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  • Ryan O.

Is it a good time to...

Since the start of the pandemic, I have been receiving calls from clients about our real estate market. Recent data has shown that prices are increasing, while closed sales have declined by double digits. There are still a lot of unknowns since COVID-19 is still a major concern in Hawaii. Every person's situation is different and unique. However, it could be a good time to...


Inventory has been low for decades. Due to COVID-19, it seems there are even less listings. If you are looking to buy, it is important your employment is steady. Lenders could be tightening up their requirements and sellers want to know if you can close the deal. In addition, there could be less competition since other buyers are staying home due to the pandemic.

I have been recently showing properties in Mililani. The homes that I have shown all have gone into escrow within a few days of listing and some might have sold above list price. If you are actively looking, it might be good to see a new listing sooner than later. Good homes sell fast, even during a pandemic. There could be deals, however, our housing market has held decently well during the pandemic. Put your best foot forward and submit a competitive offer.

As always, remember to practice social distancing. Wear a mask and gloves and be sure to frequently wash your hands.


When my wife and bought our home our rate was 4.625%. This was good since rates had jumped to 5% a few months earlier. I always told myself that I would be happy if my mortgage rate was in the 4% range.

Interestingly, we refinanced about six or sevens month later. When housing experts thought rates were going to go up, rates dropped and we refinanced down to 4%. Hindsight is twenty-twenty, but if we had waited a little longer, we could have locked a rate in the 3% range. However, a bird in the hand is better than two in the bush.

Current mortgage rates are in the low 3% to the high 2% range; this is historically low. In the past month, three of my clients refinanced to a sub 3% mortgage rate. One client is saving upwards of $500/month.

As for my family, since our current property is not our forever home, we do not plan on refinancing again. Paying the closing cost for a third time would really add to our loan amount; the breakeven point would be years away. If you are in a similar situation as me or if your current rate is in the 3-4% range, you can always make one extra payment a year to get ahead on your mortgage. This extra payment goes to principal and it can cut down on the life of your loan.



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