Is An As-Is Sale Right for You?
Many factors can influence your decision to sell including downsizing, moving closer to family, or seeking a more manageable living situation. Have you considered selling the home as-is? Selling as-is means putting the property on the market without making any major repairs or improvements—even when they are needed. This approach has both advantages and disadvantages to consider. Advantages include time and cost savings, reducing stress, attracting investors and transparency. Disadvantages include a lower sales price, fewer buyers, and potential inspection issues. Always discuss this first with your Realtor!
What’s Up for Real Estate in 2024?
By the end of 2022, Oahu real estate prices began to plateau, and the number of sales decreased. As of the end of 2023, we have seen a 5% decline in the median price of a single-family property and a very slight, .3% decrease, in condo prices.
Both higher mortgage interest rates and slim inventory impacted prices and sales. 2024 is already showing signs of change. Mortgage rates have begun to lower. Inventory has not increased very much yet, but that is typical for January. Along with many analysts, I believe that interest rates will continue to decline. Folks who have been hesitant to change properties and move from their homes with lower interest rate mortgages will now have more options. As a result, we should have more inventory.
Life Changes
In 2023, we have lost family and we have gained family. Our family reunion in Napa, California was a blast. Our Kaiser High School football team won some and lost some. Emma is thriving in her Rodan and Fields business. Antoinette starred in “Clue”, a comedy performed at Manoa Valley Theatre. And I was a part of the ensemble for “My Fair Lady” at the Diamond Head Theatre.
We are all in for a great 2024!
As always, I love to hear from you! Please don’t hesitate to call!
Thank you,
Judy
