Ewa Beach on Oahu is one of the busiest areas for purchasing a home. As a potential buyer who will be looking in Ewa Beach homes for sale, you will need to be prepared for what could be a competitive process. Homes come and go on the market quickly. Offers are placed quickly, and often with multiple buyers submitting offers at the same time for the same home. Having everything ready ahead of your search and knowing what to expect are key to successfully purchasing a home in Ewa Beach. Let's take a look at the Ewa Beach real estate market and how to get your dream home in a competitive real estate environment.
New homes in Ewa Beach
Types of Ewa Beach Homes for Sale
The majority of Ewa Beach real estate falls into the townhome and single family category. There are no high-rise condominium buildings in the area, but there are a few condos in low-rise condo buildings. The community is popular for its suburban feel and layout, the location to military bases, the newer age of the homes and townhomes, and its favorable pricing that is in comparison to many other areas of Oahu. There are even new Ewa Beach homes for sale, but due to demand, are often sold by lottery to winning participants.
What may be surprising to some people moving to Ewa Beach is the existence of CPR (Condominium Property Regime) single family homes. While this set up is very popular on Oahu, it can be rare on the mainland. Essentially, some single family homes have a CPR style, which means that they are part of a condominium. Residents, upon receiving an accepted offer, receive a condominium documents package for review/acceptance of the community rules, association documents, financials, etc.
Tropical backyards at Ewa Beach
Stay Ahead Of The Competition
If you are going to be moving and searching for Ewa Beach homes for sale, you will need to be prepared.
- Have a solid pre-qualification letter ready where your credit and documentation has been pre-screened. This will make you more competitive over another buyer who may be making an offer on the same home who hasn't gone through this process. Sellers choose the most qualified offers, and this includes solid proof of financing.
- Be prepared to act quickly. In a busy and competitive market, it's important to be ready to make an offer on a home of your choice quickly. In many instances, offers on Ewa Beach homes for sale are accepted right after the first open house (Sunday 2-5). This means that the Seller typically will accept offers up to Monday and will review on Tuesday. Homes that stay on the market a little longer, don't stay there for long either. So when you find one, act quickly to get the offer to the seller, or someone else will beat you to it.
- Homes in Ewa Beach in the current market, for the most part, sell at or a little over asking price. If they sell below asking, it's definitely not by much. The market is too busy and too competitive for major price negotiations.
- Make your offer strong on the first try, especially when other offers are on the table. Sellers will select the strongest offer based on price, earnest money deposit, loan terms, contractual terms, cash down payment, and appraisal clauses. Since you may only get one opportunity to make the offer before the seller makes their selection, make it the best that you can.
- If you are going to be offering over asking, if you have the ability to do so, secure that amount with cash. This will indicate to the seller that if the home does not appraise at the offer that you made, you are still going to be purchasing the home at that price, and you are willing to make up the difference in cash. There are of course ways to protect you from having to bring in too much. It's important to work with a Realtor who is familiar with the Ewa Beach real estate market and a competitive offer environment to structure your offer so that it's appealing to the Seller, yet, protects you as the Buyer.
- Understand that you may need to make a few offers before the Seller will select your offer. In any market, there is always the possibility that someone else will bring in a "better" offer. This may not mean that the price was higher, but maybe the timing was better for the seller, the loan type was different, it was a cash offer, or that simply the seller selected the offer based on the order they came in. In situations where 4-6 similar offers are received, sellers can simply only select one. If you are not lucky that time around, you will get the next one. Stay focused and you will end up with a home in the end.
The Hawaii Life Military Specialized Team
In addition to assisting the civilian population, the Hawaii Life Military Specialized Team and I, are dedicated to assisting Military BUYER and SELLERS, who are PCSing to and from Oahu. We are part of this special team because of our extensive experience in helping military individuals and families with their real estate needs over the years. We get it! We understand the process, VA financing, and the challenges that come from moving from place to place.
Hawaii Life Military Specialized Team. From Left to Right: Joe Sillaman, Monica Schaefer, Kinga Mills, Cathy Possedi, and David Lundstrom
If you are currently on Oahu looking to purchase a home in Ewa Beach or to sell your Ewa Beach home, or if you scheduled to arrive here in the next few months, please don't hesitate to reach out to me for assistance. I will I make sure that your home buying/selling process is enjoyable and successful, and that you are well informed throughout the entire process. If you would like to appear on our popular “Hawai Life” TV show on HGTV as you are purchasing your new home or condo, check out the casting opportunity.