There is a severe shortage of homes for sale on Oahu, Hawaii.  This is both for existing homes and new construction.  Buyers and their real estate agent need to be ON TOP OF THE MARKET or they will miss out on the homes that come on the market.  If a new property comes on the market, you MUST go out to see it as soon as possible because if you wait til the weekend or until the next week, the house will most likely be taken by someone else assuming it is priced correctly, it is in decent condition and it is in a good location.  For new home sales, developers are using the “lottery system” to sell houses.  Yes, that’s right, people are having to “win” the right to buy a home in Hawaii!

A few of the hottest markets are Ewa Beach, Kapolei, Makakilo, Koolina, Mililani and Waikele.  For more information on Hawaii real estate, Short Sales in Hawaii, VA loans in Hawaii and any other real estate information on the island of Oahu, contact David Kucic of Hawaii Military Realty, Inc.

Short sales on Oahu, Hawaii continue to be very prevalent on the island.  Each day as I read the “hot sheets” that show the newest properties that have come on the market, I notice that there are always more short sales available.  The area of the island doesn’t matter.  Each area is affected by short sales but the higher numbers of short sales are located in Mililani, Ewa Beach, Kapolei, Makakilo, Waianae and Waikele. 

Even though there are a lot of short sales in Hawaii, there are also a lot of buyers looking for properties. 

Here is what you need to do if you want to be successful at getting a Hawaii short sale offer accepted:

1.  You need to have your agent set you up on an auto notification system that will send you an email each time a new property comes on the market that meets your search parameters.

2.  You must go to see the property immediately.  If you wait, it will be gone.

3.  Make sure your agent submits all of the appropriate documents with the short sale packet which will include a loan preapproval letter from your lender. 

4.  Insure you are working with an agent that is familiar with the procedures involved in short sales.

5.  DONT THINK YOU CAN LOW BALL AN OFFER JUST BECAUSE IT IS A SHORT SALE.  YOU WILL LOSE OUT TO SOMEONE WHO IS WILLING TO PAY FAIR MARKET VALUE!

Almost all of the short sales in Hawaii will accept a VA loan from a veteran Buyer.  Need more info on VA loans in Hawaii?  Call or email me anytime.

Happy house hunting and good luck!