Luxury Beachfront Properties Still Seen as Prime Long-term Opportunities for Prospective Homeowners, Passive Income-seekers, and Investors
HONOLULU, HI, March 28, 2023 /24-7PressRelease/ — Hawaii-based luxury beach front real estate broker, Hawaiian Beach Front, held a scheduled “Hawaiian Real Estate State of the Union” event in early February. Focused on providing a realistic outlook on the Island States’ property market, the online event was hosted by Mr. Ralph Gray, one of the most discriminating Hawaii luxury real estate expert; and livestreamed to an audience of media analysts, real estate industry specialists, and prospective buyers and sellers.
Welcoming participants to the session, in his keynote address, Mr. Gray noted that: “Hawaii luxury housing is in the state of a tectonic shift. With median sales prices down approximately 3.2% Y/Y in February, the market saw a significant drop – 45.7% – in units sold. This offers a great opportunity, for instance, for buyers, renters, and investors of luxury real estate in Oahu – a sector of the Island that’s highly sought after.”
In his detailed presentation on the real estate State of the Union, Mr. Gray provided compelling facts and statistics to dispel any inclination that the Island was amid a real estate crisis. With mortgage rates at a 20-year high – touching 7.08% – luxury property sellers are eager to off-load their homes. Many sellers have drastically reduced prices of their homes, which changes the dynamics to a buyer-power one.
“As fears of a recession fade away into the background, and interest rates start to normalize, it’s likely that pricing across the broad housing market, including Honolulu luxury homes, will start to rebound. If buyers and prospective home owners and investors wait until then to make their move, some of the great deals available today may no longer be available!”
In his 2-hour long presentation, Mr. Gray, who for more than 7-years has unswervingly made it into Hawaii’s TOP 100 realtor list, and consistently ranked in the top 20% of the profession, stressed the need to act quickly and decisively to make the best of current market conditions.
“These are once-in-a-lifetime opportunities!! Whether it’s Oahu beachfront homes that you are interested in; or whether you are in search for unbelievably priced luxury real estate in Lanikai, our Hawaiian Beach Front team has a wide range of offerings in inventory. Reach out to us today, and get your dream property before it’s gone.”
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