IF YOU'RE LOOKING TO BUY A HOME OR MAYBE SELL YOUR HOUSE THEM? WE KNOW THE PERFECT PERSON TO PROVIDE YOU WITH SOME GREAT TIPS. WE BRING IN HOW WILKERSON OF WHY PROPERTY ADVISORS. THANKS FOR HERE. WE APPRECIATE IT. ABSOLUTELY. JUST GREAT BE HERE TODAY. I'M DOING GOOD. THANK YOU. IT'S ALWAYS NICE TO CATCH UP. AND IT'S ALWAYS GREAT TO GET SOME GOOD INFORMATION.
SO WHAT DO YOU HAVE FOR US? GET TO GET US UP TO DATE? WELL, FIRST OF ALL, THE JOHN LEGEND, BUT YOU JUST SAID, YEAH, I GOT TO SAY YOU'RE KARAOKE SKILLS. I THINK I'M PROBABLY ON POINT. THANK YOU. APPRECIATE I DON'T KNOW THAT I HAVE THE COURAGE TO GET UP ON STAGE LIKE A LIKE HALEY OR OR I CAN'T DO WE'LL GET WILL THIS AND IT IS EARLY OCTOBER. YOUR CHRISTMAS LIGHTS OUT. YEAH, NO, NOT YET. I CAME HALLOWEEN. LIGHTS ARE GOING OUT. TRUE. THEY ARE. THEY ARE. BUT YOU KNOW, IT'S SEASONS DETERMINED. QUICK, BUT WE'RE LOOKING AT THE NUMBERS FROM LAST MONTH. NOW, OF COURSE, SEPTEMBER JUST FINISHED. SO WE DON'T HAVE THE SEPTEMBER NUMBERS YET KNOW, OF COURSE WHAT EVERYBODY WANTS TO KNOW WHAT'S GOING ON, WHAT IS GOING ON IN THE REAL ESTATE MARKET. THIS WILL GIVE US A GOOD IDEA. THIS IS GOING TO GIVE US AN IDEA. 2 THINGS WE'VE GOT SOME BAD NEWS. WE'VE GOT SOME GOOD NEWS WANT TO START WITH FIRST ALL-STAR, THE BAD PASS OWNERS. THAT NEWS IS WE'RE SEEING A CONTRACTION IN THE OAHU AND THE OVERALL HAWAII REAL ESTATE MARKET HERE.
YOU CAN SEE IN AUGUST OF 2022, WE DID OVER 314 SINGLE-FAMILY HOME TRANSACTIONS. OKAY. THE ECONOMY WAS STARTING TO SLOW DOWN AT THAT POINT. HERE WE ARE. A YEAR LATER WE ARE DOWN 19 POINTS AND ALMOST 20% DOWN ON ACTUAL VOLUME. INTEREST RATES AFFECTING THAT MORE THAN LIKELY. THEY BOTH ARE HIGH RIGHT NOW. THEY ARE HIGH. THEY'RE VERY HIGH THERE AT THE HIGHEST 33 YEARS WERE AT THE HIGHEST. AND I THINK PERSONALLY, IT'S GOING TO CONTINUE TO GO UP. I REALLY DO. MEDIAN SALES HAS RETRACTED A LITTLE BIT, BUT NOT AS MUCH. SO THAT'S GOOD NEWS FOR THOSE SELLERS, EVEN THOUGH WE'RE SEEING A LITTLE CONTRACTION VOLUME, WE'RE STILL SEEING YOU KNOW, THE PRICES ARE HANGING UP THERE NOW DOWN IN THE CONDOMINIUM RESELLS ARE YOU CAN SEE IN THE BOTTOM A YEAR AGO IN AUGUST, WE DID 508.
THIS BLAST MOST RECORD NUMBERS IN AUGUST OF 2023 DOWN 17%, ALMOST 422. BUT AS YOU CAN SEE, THE PRICING IS STILL HOLDING INC, ACTUALLY SEEN A LITTLE BIT OF AN I THINK IT'S JUST A FUNCTION OF INTEREST. RATES IS REDUCING THAT PIE OR BUYING POWER. PEOPLE ARE STARTING TO LOOK ELSEWHERE. NOW, HERE'S THE THING.F YOU ARE SELLING, IF YOU'VE BEEN THINKING ABOUT SELLING, HERE'S WHAT I AM. WE ARE SEEING DAYS ON MARKETS ARE STILL LESS THAN 20 DAYS. WE'RE STILL IN THE TEENS. 18 DAYS FOR SINGLE FAMILY HOMES. 16 DAYS FOR FOR CONDOS. OKAY. THAT'S A BIG INDICATOR OF WHAT THE MARKET IS LOOKING LIKE.
SO WE'RE STILL SEEING, IN FACT, ONE OUT OF 4 IN AUGUST, ONE OUT OF 4 CONDOS WERE BIT UP AND ONE OUT OF 4 SINGLE-FAMILY HOMES WERE BUILT UP. SO THERE'S STILL A LOT OF ACTIVITY IN THE MARKET. STILL A LOT OF ACTION. IF YOU'RE THINKING ABOUT SELLING, YOU'RE GOING TO FIND THAT THE BUYERS IN THIS MARKET, IF YOU'RE IN 900 A MILLION pt1.2 RANGE, YOU'RE GOING TO SEE A LOT MORE CASH OFFERS.
OKAY. SO THAT'S WHAT WE'RE SEEING NOW. A LOT OF CASH ACTIVITY. A LOT OF THE LOCAL COME I A THAT ARE KIND OF BEEN ON. THE FENCES ARE COMING IN AND TAKING ADVANTAGE OF THIS ENVIRONMENT AND MAKING SOME ACQUISITIONS. AND SO YOU'RE THINKING ABOUT SELLING ITS STILL A GREAT TIME TO THEIR INVENTORY? WELL, THAT'SHAT WE NEED. WE NEED INVENTORY. I THINK THAT IS A FUNCTION OF INVENTORY IS THAT WE HAVEN'T HAD ENOUGH.
AND SO BECAUSE OF THAT, THAT IS WHY WE STILL HAVE THOSE SLOW DAYS ON MARKET BECAUSE WE JUST DON'T HAVE ENOUGH FOR PEOPLE TO TO BUY. HERE'S MY QUESTION TO YOU, YES OR MY PAL? HOW HAHA. AT IS WHY PROPERTY ADVISORS DOING TO HELP HOMEOWNERS? THAT IS A GREAT QUESTION. WE ARE DOING THE ON THE SPOT HERE BUDDY CAME AND WE HAVE US. WE HAVE A SERVICE CALLED HPA HOME VALUE DOT COM. PEOPLE THAT ARE THINKING ABOUT BOTS SELLING EXCUSE YOU OBVIOUSLY WANT TO KNOW WHAT'S MY HOME GOING TO GET ME IN THIS MARKET TODAY. HPA HOME VALUE DOT COM OR USING BIG DATA. USING ARTIFICIAL INTELLIGENCE WERE USING THE. ABSOLUTE BEST IN TECH TOOLS THAT ARE AVAILABLE ON THE REAL ESTATE SPACE TODAY TO HELP YOU DETERMINE WHAT YOUR HOME IS WORTH.
IF YOU SCAN THIS QR CODE ON THE SCREEN RIGHT NOW, YOU'RE GOING TO SEE IF I SOLD TODAY. HOW MUCH MONEY AM I GOING TO RECEIVE AT THE CLOSING TABLE? HOW MUCH AM I GOING TO EARN? IF IT'S nA RENTAL, ONE OF MY CLOSING COSTS CAN LOOK LIKE WHAT ARE MY TAXES CAPITAL GAINS? IF I HAVE THE OPPORTUNITY TO PUT ON AN AIR BNB, WHAT WOULD IT BRING AND HERE'S THE MOST IMPORTANT THING.
HOW MUCH COULD YOU BUY IN THE CURRENT INTEREST RATE ENVIRONMENT? SO TAKING THAT EQUITY OUT OF THAT HOME THAT YOU'RE SELLING AND PUTTING IT INTO A NEW ONE, WHAT'S IT GOG TO LOOK LIKE? THAT'S WHAT WE'RE GOING TO TELL SO coIF YOU GO TO HPA HOME VALUES DOT COM OR SCAN THIS QR CODE, THAT'S WHAT YOU'RE GOING TO GET. WE STEP ASIDE REAL QUICK. SO, YES, THERE'S A WEB SITE OF THE BOTTOM OF YOUR SCREEN. THERE'S A QR CODE WANT TO SCAM. THANK YOU SO MUCH FO.
