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Wrong Bernie Tong?

Bernie Tong

Partner

Prudential Locations LLC

HQ Phone:  (808) 735-4200

Direct Phone: (808) ***-****direct phone

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I agree to the Terms of Service and Privacy Policy. I understand that I will receive a subscription to ZoomInfo Community Edition at no charge in exchange for downloading and installing the ZoomInfo Contact Contributor utility which, among other features, involves sharing my business contacts as well as headers and signature blocks from emails that I receive.

Prudential Locations LLC

614 Kapahulu Ave Suite 200

Honolulu, Hawaii,96815

United States

Company Description

Prudential Locations has been helping kama'aina make wise real estate decisions since 1969, and we've grown to become the largest locally owned and operated real estate company in the state. Built on a foundation of integrity and forward vision, our ability to... more

Find other employees at this company (173)

Web References(9 Total References)


www.sandislehawaii.com

"Low inventory in real estate is a good indicator that the market is stabilizing," says Bernie Tong, Realtor and partner at Prudential Locations.
"Our inventory levels are so low, we're seen multiple offers on existing listings, sometimes for a higher than asking price," says Tong. "The tax credit means more buyers are out there right now, and low inventory means less competition for sellers for all these buyers." Historically, inventory drops can be an indicator that prices are ready to rise. While it's anyone's guess as to whether that will happen or not this time, this unique market does has an upside for some buyers. "This is a great market for move-up buyers," says Tong. Downsizing is also a trend that Tong is seeing more often as a way to reduce expenses or to move into something smaller and reduce maintenance and lowering utility costs. She recently helped a couple sell their 40-year old 3,400-square-foot home to buy a brand new 1,600-square-foot home in Ka Makana, in Ewa. They now have half the square footage and very little maintenance, since the house is newly built. "The low inventory means it's fairly easy to sell a home right now," says Tong. "I was recently trying to schedule a showing of a short sale in Ewa Beach and the listing agent told me she'd already received six offers in one week on the property and has stopped showing it." Tong attributes the drop in inventory to several factors including the tax credit, an increase in consumer confidence, and the time of year. "Sellers historically will pull off listings around the holidays," she says. Tong says it's simple: To get the tax credit, a buyer needs to be in escrow by April. "I've been advising my clients with entry level properties to list now because there are more buyers out," she says.


www.hawaiihomelistings.com [cached]

Listed By Bernie Tong of Prudential Locations LLC.


realestate-oahu.com

An overpriced property will take longer to sell, and in today's market, the longer you're on the market, the less money you'll get, according to Bernie Tong, Realtor and partner at Prudential Locations LLC.


www.realestate-oahu.com [cached]

An overpriced property will take longer to sell, and in today's market, the longer you're on the market, the less money you'll get, according to Bernie Tong, Realtor and partner at Prudential Locations LLC.


www.prudentiallocations.com [cached]

An overpriced property will take longer to sell, and in today's market, the longer you're on the market, the less money you'll get, according to Bernie Tong, Realtor and partner at Prudential Locations LLC.
"Asking a higher price does not always get a higher price," she says. "When a listing is stale, there are fewer showings," says Tong. "Sometimes even a price reduction does little to spur more interest in the property. And the longer a property has been on the market, the more a buyer feels they can negotiate — since they feel they have no competition." Tong emphasizes that just because listing prices have dropped doesn't necessarily correspond to a like drop in sales prices. "When inventory was tighter, sellers consistently priced their properties above the most recent sales to see if they can push the market even higher," remembers Tong. "Sellers, even investors, are emotional about the real estate they own," warns Tong. "They feel that their property is special compared to the competition or the recent closed sales." In determining a price tag, real estate agents offer a comparative market analysis in which they look at similar homes in similar neighborhoods to analyze what has recently sold. The CMA will also consider active listings and pending sales. "Pending sales will give you the most current indication of activity in a neighborhood or building," says Tong. She even recommends sellers go out and visit competitive properties in the neighborhood to see their condition and how they compare. "Seeing the competition helps a seller to price their property to be competitive," she says.


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