Potential homebuyers are growing frustrated as prices continue to rise

HONOLULU (HawaiiNewsNow) – House prices continued to rise steadily in September.

According to Locations, a leading Hawaiian real estate company, the average price for a single family home in Oahu is now $ 1,050,000. Condominiums are also on the rise, with an average price of $ 480,000.

In the past month, 63% of the single-family homes and 40% of the condominiums were sold above the asking price.

The broker Maila Gibson-Bandmann helped her customers to find their way around the market, but recently got on board as a buyer herself. She and her family found the perfect home in Hawaii Kai for $ 965,000.

They had a strong down payment, and the day before the sellers were supposed to pick an offer, their agent called and asked them to do a few things to strengthen their offer.

“We did everything she asked us to do and ended up in second place in the backup,” said Gibson tape man. called.

“I followed this house to the end just in the hope that we would be the right people in the end. It closed a lot more than asking for the same price we had, but what broke my heart even more was that I saw it for rent three days after it closed. “

She was chasing one more house, but an inspection revealed structural damage and she and her family left.

Finally, on the third try – after kissing two frogs, Maila says – they found their prince.

The house they found still needs work, but they are happy and finally in trust. Your message to potential homebuyers: Don’t give up.

“So, you know, I couldn’t help but feel the hint of frustration the buyers are feeling right now – the feeling that investors are praising them out of paradise, and I’ve seen it myself,” Gibson-Bandmann added.

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