Are We at the Bottom?

Many see the housing market as the key to economic recovery but acknowledge that until its pereceived that the market has hit bottom, many would-be buyers will sit on the sidelines. A March 24 Good Morning America (GMA) segment suggests that maybe we're there. GMA reported on a influx of foreign and domestic "professional buyers" (investors who buy homes--sometimes in bulk and sight unseen--at bargain prices to later sell at a profit). Their presence typically signals the market bottom, or near to it, and thus the beginning of a recovery. 
(From the National Association of Realtors April news update)

And in Hawaii we are starting to see the number of sales (mainly on Oahu)  start to pick up, which is our first indicator of the market.  Short sales have slowed and most foreclosures appear complete (now are bank owned)  – but there is still lingering pressures due to unemployment and softness in the tourism and other business markets.  The military, as always, is a strong presence in Hawaii; and with the current prices and rates (prices are flat and rates are low), providing many opportunities for our military to buy homes in Hawaii that even six months ago were out of reach.  Talk to our military lender, retired Chief Allen Blackard or one of our excellent, experienced agents so we can help you buy your piece of paradise!!  Or search the Oahu MLS, all  properties listed  by Oahu’s real estate companies.