Allure Waikiki

Here's the excerpt from Sales Office of Allure Waikiki (ground breaking January 2008):
"... 35-story upscale community with 1, 2 & 3 bedroom residences featuring gourmet kitchens with all Viking appliances, master suites, generous walk-in closets, floor to ceiling windows & much more. A grand lanai with 18' ceilings & a lush park will be major focal points in Allure Waikiki along with a spacious recreation terrace with pool & spa and 24 hr security access..."

909 Kapiolani completed late August still has remaining inventory from the developer, as well as 10+ resale units on MLS. Keola La'i in Kakaako, Watermark in Waikiki, Capitol Place and Pinnacle in Downtown... The success is depend on the timeline against this uncertain market into 2008.

Market analysis is everywhere, but one thing to keep it mind: Real estate is Local.
Just as national weather forecast has nothing to do with our local weather, we have to keep our eyes to specific local market to learn where it goes...

Where the market go in 2008?

Mystery photo answer: Hokua at 1288 at Ala Moana (gym shown below)

As it was built and sold by the developer beginning part of 2006, 2-year mark to qualify for home exemption status may prompt many owners to take advantage of this highly appreciated property.


Many of us are wondering where this crazy real estate market will go and when is a good time to buy and/or sell... I don't have a crystal ball nor dare to tell you my speculation.

Only I can see from what I know or able to observe every day is that market is correcting itself to the healthy stage, no matter how long it takes or some surgery needed. It is a detox session that we all need to take its course to absorb and swallow.

For some, it is a harsh reality by facing adjustable interest rate to reset, short sale and possibly foreclosure. Others face selling at a loss, but able to secure the replacement property taking advantage of buyer's market to make it reasonable or wash (against those loss suffered by sale), but I believe many many homeowners are just holding its own roof nice and sound.

I do believe even homeowners who bought at the peak of the market will be handsomely rewarded if only they are seeing your home as "home", not as investment or equity drainage.
All fads has its own time, they all come and gone. They may call this "bubble", but you don't need to "pop" your property if you have a good down payment, good low interest rate on mortgage (historically low), good job and income, and good and realistic approach to real estate.

Some analyst says this market will have "U" shape recovery, rather than "V", it will take a few year to get the toxic (lending industry included) out, getting lean and healthy. Some said even "L" shape, rather longer recovery period. So, for those who are wondering, my advise is to think long term and treat with any financial decision you would make... don't gamble more than you can afford to lose, and have either exit plan or cash reserve, or both.

Have a wonderful Holiday season and wishing 2008 will be a great year to you all!

Check my website: http://www.gothawaiihome.com/ I have a link for Inman News for daily news.