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Sales Agents Realty Executives Oahu Honolulu, HI |
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Condotels in Honolulu More Days on Market
10/5/2008 at 8:07 PM - Other - Honolulu, HI
With the more strict underwriting of loans comes higher downs for condotel's , try 30% or more depending . So many more factors involved to factor in approval , percentage of homeowner's to renter's , full kitchen , etc. On top of that the City and County of Honolulu have hit the condotel owner's with an extremely high assesed value , doesn't seem to justify what your buying. However , with so many snowbirds and visitors , including higher hotel rates contels seem to still sell ....just not so easily . I have seen prices come way down on them due to the fact that they are more days on the market and underwriting.
Caveat Emptor.
Robert Huber RA Price Realty Goup
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