Now is the time to buy in Maui
Why is it the time to buy? Because people with money are doing it. They aren’t
smarter than the rest of us but they do recognize when the time is right. And
now the time is right. In 2012 72% of Maui land sales have been cash. Add to
that 60% of all condo sales are cash this year. Even home sales are 33% cash.
Why is that? Number one is that loans are still incredibly hard to obtain. Although the best in UK are avaialbe for short term loans there are still much aspects to be looked at. After that it is the credit consumer who is still afraid of the market. It’s not
that the consumer can’t qualify it’s that he won’t take the risk.
This will prove to be a big mistake. When the consumer finally decides the time
is okay he will be buying at inflated prices from the people that are buying up
the market now with cash. Don’t get left behind wondering how the the rich get rich.
Take a risk today. Is it a risk? Not if you believe the real estate economists who clearly state that the US real estate market bottomed out 6 to 8 months ago and will begin to rise over the next several years. Do you like those one percent returns from the banks? Across the US it is now cheaper to buy than to rent. Get that 30 year home loan today for less than 4% interest from a place like Investors Choice Lending (information and more from Investors Choice Lending for anyone interested – it’s who we used) and your heirs will be happy.Today in Maui if a home is well priced it gets multiple offers. Delmore Realty found that out a number of times this month and lost several offers over full price to other companies offering more. The lesson is don’t bargain hunt if it’s priced right.
Tom Delmore, Realtor 808-283-2438
October 8, 2012