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Oahu Real Estate Market Recap – 2011 It's a strange world…

Oahu Real Estate Market Recap – 2011 It's a strange world…. Berton Hamamoto (B), ABR, CRB, CRS, CFP Property Profiles Inc. U.S. Housing Starts Lowest since the Second World War… in the past three years . Housing Starts in thousands. Best Affordability Conditions. Is it going to get better?.

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Oahu Real Estate Market Recap – 2011 It's a strange world…

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  1. Oahu Real Estate MarketRecap – 2011It's a strange world… Berton Hamamoto (B), ABR, CRB, CRS, CFP Property Profiles Inc.

  2. U.S. Housing Starts Lowest since the Second World War… in the past three years Housing Starts in thousands

  3. Best Affordability Conditions

  4. Is it going to get better? • Low interest rates • How low can you go? • $575,000 median price • -$115,000 down • $460,000 borrow at 4% = $2196 • 6% = $2758 • $ 562

  5. Existing Home Inventory(Elevated but Falling even as distressed and shadow inventory flows in)

  6. Florida Home Sales Rising despite/because of many distressed properties

  7. Arizona Home Sales Rising

  8. National NAR Median Price and National Case-Shiller Price Index NAR Price is the median single-family in $ thousand Case-Shiller is an index value

  9. 20-Metro Case-Shiller Price Index…Remarkable Stability from 2009

  10. Local Market Trends Prices Up • Bismarck • Boston • Buffalo • San Diego • San Francisco • Washington, DC Prices Down • Atlanta • Chicago • Las Vegas • Miami • Phoenix • Portland, OR

  11. 2011 CLOSED SALES Statistics provided by HBR, HIS & RAM

  12. 2011 MEDIAN SALES PRICE Statistics provided by HBR, HIS & RAM

  13. Oahu Inventory - Single Family Statistics provided by HBR

  14. Oahu Statistics - SF Statistics provided by HBR

  15. Oahu Statistics - Condo Statistics provided by HBR

  16. Home Price vs Rent … Price Change Potential?(index = 100 in 1980) Rent is CPI Primary Rent and Price is NAR median price

  17. Summary? • is this the perfect storm? • Historically low rates • Depleting inventory • Pent up demand • No new supply of housing • Increasing incentive to buy vs. rent…….. • Consumer confidence????

  18. Projection for 2012? • Election year means no action • Jobs, consumer confidence • “All real estate is local” • Don’t believe all the headlines More than ever….need professional help! • Great time to buy real estate! • Price going up in some areas

  19. Projection for median price on Oahu?.... • Oahu may see 2%-3% increase in prices for SF ($590k), and 0% - 3% increase Condo prices • Some neighborhoods....+? • Neighbor Islands moderate improvement…stable prices 0%

  20. North Dakota … Jobs Everywhere(Starting Wage at McDonalds … $15 to 18 /hr….$25 mgt trainee) In thousands

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