These two charts really point to stagflation, where inflation goes up while the GDP declines. The Atlanta Fed slashed GDP growth to just .2% down from 14% back in May. So as the expected GDP drops, the Citi Inflation Surprise Index is going up. This points to stagflation in my opinion.
A Realtor was so upset that I displayed one photo for expired listings that they reported my website yesterday to the Honolulu Board of Realtors. Per their rules, I have to hide expired and withdrawn listing data from the public unless they sign up with me to see it. I was hiding the detail page … Read more
I posted the local market statistics. Mililani and Aina Haina went up the most at a 36% increase since last year, but 5 other areas also were up over 30%. As long as your salary has increased around 40% since last year you are staying ahead of inflation on homes. I see a local bank … Read more
Sellers ask me all the time is it possible to sell without a buyer’s agent and thereby pay no 2.5% buyer’s agent commission. The answer is YES. We have sold 43 homes with no buyer’s agent, which saved those sellers $667,737 in buyer’s agent’s commissions. You can read more about this option from our website.
I read an article in a Real Estate publication that was titled “6 reasons NAR’s commission rules work”. It was an article that backs up why commissions should stay the same. There is a lawsuit that contends that buyers should pay their own agent commission. Currently, buyer’s agents are paid a fixed commission from the … Read more
2 Out of Every 3 Single-Family Homes Sell for Over the Asking Price in SeptemberYear-over-year market activity continues to mark gains, but month-to-month closed sales dip Closed sales of single-family homes and condos in September continued to outpace sales activity from the same time last year, recording 8.4% and 34.9% increases, respectively. However, sales dropped … Read more
Conforming loan limits are about to be raised by the largest dollar amount ever. The last time a big increase happened was prior to the 2008 Housing Crisis. After that, the limit stayed at the same amount for 10 years, as it took that long before homes went up enough in price to need another … Read more
Asking $885,000 in Pearl City. Sold for $295,000 over asking. Realtor comments say there may be settlement issues. The value is in the land because the lot is 11,250 square feet with R-5 zoning so it could be subdivided and two new homes built. See this link for all the photos and details.
The Fed will start tapering mortgage purchases this year. The chart below shows what happened the last time they did this. Rates should start going up which will help to cool this overheated seller’s market. January 2021 mortgage rates hit an all-time low. A more balanced Real Estate market would be nice, but if rates … Read more
The way I see this chart is 1955-1998 homes prices increased just .1% over inflation. Then you have a nice increase from 1998 to 2006, but then it is offset by the decline from 2006 to 2012. Since 2012 it has been rising, and especially this last year. Over time, home prices can’t grow much … Read more