With the summer comes a hot real estate market and Locations Realtor Christina Davis has tips for prospective buyers and sellers.
Davis explains that a “Buyers Market” is when you have 6 months or more of inventory, and during that time, that’s how long it will take to deplete that inventory.
Currently, months of remaining inventory for single family homes (SFH) on Oahu are taking 3.5 months to sell out and Condos are taking 4 months to sell out the active inventory.
Davis adds as of 2019 at the end of the first quarter, available inventory for SFH was 1,082 and Condos were 1,836, which is a more than it was in the past.
Inventory is starting to go up, which gives more opportunities for Buyers to see more inventory and shop around.
For homeowners & investors, it’s a great time for transition to do a 1031 exchange to optimize their holdings.
It’s a good time to do so because there’s more inventory and Buyers can take advantage of the lower rates and buy and to sell and “move up.”
Davis cites one recent case. “We prepped and got my Seller’s home ready to go on the market, and on day 4 we had a full priced offer and closed a week early,” says Davis. “I was so excited for them because I got to help them transition from condo living to a Single Family Home. They even came in 10k under list price and got their offer accepted. The home needed some TLC, that 10k they saved really helped them out! They were able to put that money towards landscaping and painting their new home.”
If you’re looking to get into the market, Davis recommends you come up with a game plan and make sure finances are in order.
You will also want to work with a full time realtor who you trust and has your best interest at heart. T
here’s a lot to Buying and Selling property and things can go bad quickly if you don’t have a professional realtor in your corner.
Lastly, Buyers and Sellers both need to understand and be knowledgeable about the neighborhood they’re buying into or selling.
Neighborhoods and its sub markets differ from each other and each market is its own market.
“I make sure to let my clients know I am always available for them” adds Davis. “A couple weeks ago, my client purchased his first home! At closing we met at the property, made sure all the keys worked and looked around the unit to make sure everything was as it should be, I handed my client the keys and then my client said, “That’s it? Awe I’m going to miss you, thank you for all your help.” When my clients are happy and appreciative it makes me happy. Real estate is one of the biggest purchases in a persons life and I’m grateful for my clients allowing me to assist them.”
As a mahalo for clients, Davis is teaming up with Midnight Tinting, a high infrared rejecting film to reduce heat in your car.
Through the end of this year, upon closing, Davis will gift clients with a ceramic windshield tint job from Midnight Tinting.
To contact Christina Davis for your real estate needs.
Phone number: (808)341-3653
Social Media Handles:@Christinadavisrealtor