There are incredible deals available.Every day, I receive calls from sellers and buyers asking what they should do right now in real estate. Although we knew the real estate bubble would burst eventually, I don’t know of too many people that expected the financial crisis in which we currently find ourselves today. People that have lived on Maui for decades are moving off island, the tourist industry has been very slow so far this year, and buyers are waiting to see how low the market will go before they buy. Unfortunately, if buyers wait too long, it may be very difficult to obtain a loan since many banks are freezing credit lines.
Is there a bright side? Yes, because there are incredible deals to be had. As the stock market falls I know of people who are investing and betting they will make a profit. Just like the stock market, there are also incredible real estate deals right now.
A year ago, people would tell me they would buy if they could find a place for under $500,000. There are many available now! Currently, I have a multi-family home (three units) for sale in Makawao for $499,000. I have a turnkey home only five years old in Pi‘ilani Villages III with three bedrooms, two baths, a fully fenced large yard for $499,000 (and it’s not a short sale). In downtown Pa‘ia there is a three-bedroom, two-bath for $499,000.
There is also an abundance of two-bedroom condos for under $300,000. And of course, my precious plantation home with unobstructed views, detached garage, new septic systems and ready to build main house on two acres in Kula is now only $699,000.
Remember, you can always see what is available on the Multiple Listing Service at www.chrisbakeman.com. Just enter your criteria and it will show you everything that is listed. Then give me a call and I can assist you in purchasing the home.
Chris Bakeman, broker, has been a realtor since 1997, selling in both buyers’ and sellers’ markets. Now with her own company, she offers an affordable way to sell your home starting as low as $4,000 full service on the MLS. Contact Chris Bakeman Realty LLC at 283-6126 or www.chrisbakeman.com.