Local Market Update January 2022
The local market stats just came out today I see some areas having less closed sales and a lower median sale price. Perhaps that is a sign the market is cooling a bit which is really needed.
KITV Interview About Monster Homes
View the news segment on Monster Homes on KITV News. https://www.kitv.com/news/local/controversial-19-bedroom-15-bathroom-kalihi-home-up-for-sale-at-nearly-3m/article_01f1b3c8-8bad-11ec-8e2f-678e83fed1fe.htmlhttps://www.kitv.com/news/local/controversial-19-bedroom-15-bathroom-kalihi-home-up-for-sale-at-nearly-3m/article_01f1b3c8-8bad-11ec-8e2f-678e83fed1fe.html
The percentage of Americans who think it’s a good time to buy a home fell to an all-time low in January.
This survey was conducted by mortgage giant Fannie Mae. They started this survey back in 2010, after the big 2008 housing crash. We have been on a long-time upward slope of home prices as shown by the above graph of the Case-Shiller U.S. National Home Price Index.
Questions about commission!
I read these thought-provoking statements in Inman news, the leading news source for Realtors. It is good to see Realtors themselves asking these hard questions. “Why are typical commissions in Australia, Denmark and Finland 2 percent, and 1.5 percent in the U.K., yet 5.5 percent in the U.S.?” “How do you explain, to a consumer, … Read more
January Oahu Housing Report
2022 began with a sharp jump in both single-family home and condo sales – combined, O‘ahu’s housing market saw a 28.6% sales increase compared to January 2021. While the single-family home median sales price held steady for the third consecutive month at $1,050,000, the condo market set a new monthly median sales price record of $510,000, surpassing … Read more
Change does not come easily ? at the Honolulu Board of Realtors.
I have been trying since April of 2021 ?to get them to remove the rule that the buyer’s agent commission is NOT negotiable. In May 2021 they said they would reach out to the National Association of Realtors to investigate this, but I still have no resolution. ? I have not given up and will … Read more
Buyer’s Agent Commission
I am waiting on the Board of Realtors to allow me to show the buyer’s agent commission percentage on all listings. However, they continue to ignore the National Association of Realtors guidelines which say the buyer’s agent commission should be negotiable. Maybe once it is displayed consumers will start pressuring Realtors to negotiate it so … Read more
Real Estate Stats for December 2021
The O‘ahu housing market ended 2021 with a slight decline of 10.0% in single-family home sales and a healthy 15.4% increase in condo sales year-over-year. The median sales price for single-family homes tied the previously set record in August 2021 at $1,050,000, while condos saw a median sales price of $485,000, slightly up from December … Read more
Is A Flat Fee Buyer’s Agent Commission Coming Soon?
Have you ever heard of a Flat Fee Buyer’s Agent Commission? Maybe soon you will. There are at least 3 big class-action lawsuits against Realtors claiming the fixed 2.5% buyer’s agent commission should not be paid for by the seller but instead the buyer should pay their own agent. Their argument is this would allow … Read more
Condos Outpace Single-Family Homes in Sales, New Listings
Closed sales activity for single-family homes lags behind the condo market, with single-family properties marking just a 9.8% increase in sales compared to 47.7% jump for condos in November. The median prices for single-family homes and condos tied the previously set record prices at $1,050,000 and $500,000, respectively. Though single-family homes continue to move into … Read more