All Forum Posts by: Gary F.

Great to see this thread still alive.

@Sam Shueh  Thanks for those graphs. If Im reading it right, it seems prices have not gone below asking but just not 15% over asking list price as in Spring this year. 

Forecasts:

My take: It might not be the best time for flips being that prices may decrease and building materials and labor are very high. The tariffs certainly didn't help either.  Interest rates continue to rise as they are now at 5%.  DOM are increasing along with the inventory:demand ratio.  A couple of property mgrs I talked to said rents are also going down about 5%. However, late Fall/Winter is also the slow sales and rental season.  When spring comes we'll be able to see a better picture of the market when sales and rentals are high season.

There's always the possible wholesale deal. Its challenging because it seems many people are either an investor or REA. And everyone has some app to find foreclosures and distressed properties. Definitely a competitive market out there. 

I'd like to hear others take on this....  

That's so inspiring. I used to live on Oahu and hope to someday move back.  Maybe you could share your strategies? The market in Hawaii is not as volatile as say, the Bay Area.  They dont have the wide swings like the mainland, so does that help in that the risk is lower? 

I was thinking of getting a SFR with an ohana unit (ADU) and house hacking, then go from there.

You're doing flipping.  You must have some great contractors and contacts. Things move slower there and building materials more expensive since most items have to shipped over.  The Building Dept on Honolulu is notoriously slow too. Obviously you're doing something right!  Awesome!

Are you flipping SFRs, MFs, or ?

No replies here.  Anyone!!??

Nice. Honolulu is a saturated market. Sucess isnt easy I hope to invest there and move back.

Originally posted by @Vinay H.:

Originally posted by @Gary F.:

1) Inventory catching up to demand. On any given weekend, there's now 7-8 "Open House" signs on the local intersection vs 1-2 during early Spring

2) Interest rates are creeping up

3) Typical lower sales season of the year

As I've heard others say, 2 months does not a trend make.  The higher sales season of Spring will reveal more of the current RE market and economy. 

These are all contributing factors but I think the market is just taking a breather. Now would be a good time to secure a nice flip for next spring....

 YEs, exactly. Now if I could just find that all-elusive deal!!!  So many of them have been fished out, but theres still some out there

1) Inventory catching up to demand. On any given weekend, there's now 7-8 "Open House" signs on the local intersection vs 1-2 during early Spring

2) Interest rates are creeping up

3) Typical lower sales season of the year

As I've heard others say, 2 months does not a trend make.  The higher sales season of Spring will reveal more of the current RE market and economy. 

So, they all sign one lease, but pay separately? How does this work exactly? 

Yes, and what of the common areas?  If everyone is only responsible for their own rooms, then no one is held accountable for the common areas. Is that "Joint and several liability" something on legal rental form documents?

Hmm. A crap shot here. No one can say for sure about a year in the future. But currently yes the markets have started to soften. But if you need the time to prepare anyway would the added stress be worth the rush of trying to sell now? Then it’s more of personal feeling vs a financial decision.

Well of course there’s pockets that don’t follow the market necessarily. But in San Jose it’s “softening”. Increased DOM, increased inventory, less multiple bids, some price reductions. BUT the interesting part is the long term. As the tech companies start growing so does the local area. I’m curious to see if the prices near Diridon Station where Google is coming are still increasing.