The monthly mortgage payment for the median-priced home on Oahu rose 68.6% since January 2021.
This is due to the price of homes increasing significantly along with a higher interest rate on loans.
The Fed says inflation is up 4.7% in 2021. I guess the cost of a mortgage payment is not included in their numbers.
Our buyer was one of 38 offers this property received.
It seems the market is still hot for homes priced right.
Here is the home.
For the first time ever we closed today on a $2,400,000 Kailua home that was offering only $1, yes ONE DOLLAR commission.
The MLS does not allow a seller to negotiate the commission down, but they do allow the seller to pay Realtors more commission (isn’t that nice of them LOL), so putting in $1 essentially made the commission negotiable, and a deal was reached that everyone was happy with.
So now if your Realtor tells you commission is not negotiable you can let them know it can be negotiated up, just not down, and it is possible to sell a home offering $1 commission, which essentially sends a message that commission is negotiable.
This market has to slow down. It can’t sustain a 19.1% increase every year like it had this year for April.
