Real Estate Sales In Mililani Seems to be Picking Up

By
Real Estate Broker/Owner with Island Style Realty Inc. RB-19250

In the last few weeks we have seen a surge in business in Mililani and the surrounding area.

Our office had two townhouses for sale.  One was on the market for a little over a year and the other nearly 6 months.  They were just sitting there with very little interest and then it happened.  At the same time they both received multiple offers and went into escrow.  Ok I know that is not scientific, but let's look at a few more.

On the first of the month 3/1/07, I listed a 3 bed/ 2.5 bath townhouse for sale in Laulea.  My clients were still moving out and we were putting in new carpet.  We did not have showings until last Wednesday starting at 10:00am.  That afternoon I already had multiple offers pushing it over asking price.  In Mililani Garden Homes 1 another agent from a neighboring Century 21 office had a listing that was the twin brother to the one I am selling in Laulea.  I checked that day to find his was scooped up also.  The beginning of the year these properties were just not moving.

In the last few weeks I have also noticed inventory in Mililani has come down some.

Mililani SignToday  3/14/07:

Townhouses Sales

  • 111      Active for Sale
  • 63        In Escrow
  • 218      Sold in last 6 months

Single Family Homes

  • 88        Active for Sale
  • 44        In Escrow
  • 142      Sold in last 6 months

We have now dropped to 2 months inventory, making it a sellers market again in Mililani.

What are some of the forces pushing this new positive movement?  Interest rates are low.  The homes construction is almost completely built out in Mililani Mauka.  We also have the Striker Brigade coming to Schofield Barracks.  The 2nd Brigade is still in Iraq.  When they return there will be another big pressure on our housing inventory.  At least for the short term things are looking up in Mililani.

 

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Randy L. Prothero, REALTOR®

Principal Broker, ABR, AHWD, CRS, e-PRO, GRI, MRP, SFR

Island Style Realty Inc.

Team Leader - "The Prothero Group"

Randy Prothero is well established as an expert in working with military / VA clients and first time home buyers.  His home seller's (listing) campaign is one of the most aggressive marketing programs in the area.

Based out of Mililani, Hawaii. Randy services the island of Oahu (Honolulu County) Performs mediations and ombudsman services for the Board of Realtors.  To improve overall professionalism in his area Randy also offers classes for real estate agents. 

www.HawaiiRandy.comOahu (Honolulu County) Property Search  Hawaii Military Relocations

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Rainer
131,651
Lysa Napolitano
Daytona Beach, FL
Great news for you Randy! Hope it keeps up for you guys over there!
Mar 14, 2007 06:40 PM #1
Rainmaker
624,735
Randy Prothero
Island Style Realty Inc. - Mililani, HI
Hawaii REALTOR, (808) 384-5645
I am mostly concerned with the lenders.  If the money gets tough it will effect everyone.
Mar 14, 2007 08:10 PM #2
Ambassador
1,983,630
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages Connecticut - Middletown, CT
Your Connecticut Mortgage Expert
Randy, that is what we like to see, houses selling fast and not sitting on the market for ever.
Mar 14, 2007 10:18 PM #3
Rainer
97,931
Danny Smith
DISCOVER TEXAS HOMES - Round Rock, TX
Good to see the up-tick in sales! A year ago you couldn't give Condos away here. Now I check the market for a potential buyer and there are hardly any left on the market!
Mar 15, 2007 03:38 AM #4
Rainmaker
624,735
Randy Prothero
Island Style Realty Inc. - Mililani, HI
Hawaii REALTOR, (808) 384-5645

George - Especially when they are my listings.  :)

Danny - We slowed for part of last year, but it seems to be moving strong again here.

Mar 15, 2007 03:52 AM #5
Rainer
188,436
Laurie Manny
Long Beach CA Real Estate - Long Beach, CA
Randy, It seems to be picking up here also.  I just put one in escrow and was in multiple offers also. 
Mar 15, 2007 04:21 AM #6
Rainmaker
624,735
Randy Prothero
Island Style Realty Inc. - Mililani, HI
Hawaii REALTOR, (808) 384-5645
Laurie - I love multiple offers.  I thought I wouldn't see those days for awhile.  I am happy to see them back.
Mar 15, 2007 04:23 AM #7
Rainmaker
158,101
1SG (Ret.) David Kucic
Hawaii Military Realty, Inc. - Ewa Beach, HI
President and Owner
Randy-Hotsheets told me today that your office put another one in escrow today.  It had been on the market for a long time. 
Mar 15, 2007 10:52 PM #8
Rainmaker
624,735
Randy Prothero
Island Style Realty Inc. - Mililani, HI
Hawaii REALTOR, (808) 384-5645
David - We had a few old listings go in the last two weeks.
Mar 16, 2007 12:04 AM #9
Rainmaker
307,627
Maggie Dokic
Special Miami Homes - Miami, FL
CDPE, SFR, Pinecrest | Palmetto Bay |
Your post has been included in the week in review.
Mar 19, 2007 09:29 AM #10
Rainmaker
624,735
Randy Prothero
Island Style Realty Inc. - Mililani, HI
Hawaii REALTOR, (808) 384-5645
Thank you Maggie, I believe this is my first time.
Mar 19, 2007 11:13 AM #11
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Rainmaker
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Randy Prothero

Hawaii REALTOR, (808) 384-5645
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