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Cliff and Lana Branum
Read more great testimonials on my website!
West Hawaii Real Estate Update
April, 2014: Volume 11, Issue 4
Kona real estate had a good month in March. We ended the first quarter in sales (225) exactly where were last year, and our inventory in houses and condos (230/145) is almost identical in count. Land inventory is down 50 over last March, which is a very good sign.
Where everything varies is on price… it has gone up significantly in the last 12-months. The good news, if you are a seller, is I think we have many more months ahead of us of rising prices. If you are a buyer, you are losing around 1% per month in purchasing power by waiting.
The other piece of the real estate puzzle hanging in the balance, is that interest rates are expected to rise to 5% or over this year… when is uncertain, but most likely after the summer from what I read.
Whichever piece of the real estate puzzle interests you call or email me today to discuss the market and how it impacts you!
Notes From Gretchen
Town has been very busy with cruise ships this season… the past week there was a new one every day! This type of economic improvement though great for retailers and tourism attraction providers does cut into the rental revenues. Our hope is that for their next trip they will come stay for a week.The market is doing nicely and our office is happy to be in the top 10 so far this year… go, team, go!The invite still stands to see our new digs the next time you are in town… we are above Jackie Rey’s in Pottery Terrace!
My Soapbox Forum
Continuing the series in the 5 Traits to Look for in Your Agent written by Tara-Nicholle Nelson.
(Part 4 of 5)
Frankness and optimism. You want – no – you need your agent to be frankly honest. You need them to be frankly honest with themselves and with you about all facets of the reality you’ll face as you proceed through your transaction. Sellers, you cannot afford to have an agent who will let you persist in fantasy-land beliefs about what your home is worth – contrary to all evidence as to what homes in your area are actually selling for and feedback (read: silence) from prospective buyers who have seen your home – without challenging you to look at the data and adjust your pricing strategy. Buyers, by the same token, you can’t afford to work with an agent who encourages or allows you to make 5, 10, or 15 lowball offers on a home without urging you to face the truth that you need to house hunt at lower price points or make higher offers in order to be successful.
You need an agent who is willing to tell you the truth and have these sorts of hard conversations with you even when you won’t like it.
That said, you want an agent who possesses both this frank integrity and an ultimate optimism that, with right thinking and strategic action, you can and will ultimately succeed at making a great buy or sale.
Kona House Sales by Price Range
As you can see the $400,000-$500,000 price range was the most successful last month. It also has the lowest months supply with only 2.0 months remaining available.
Out on the Town
As promised here is my big surprise this month… I got married! On April 12th I married my long time love, Randy Osgood, in a small ceremony at Fishhopper’s Restaurant downtown. They have a lovely ocean view lanai that worked just perfect for us and our 25 guests. We were the first wedding they had had and it went very smoothly… we keep telling everyone we had a party with a wedding! See more pics on my website!
If you are wondering where our outrageous (and fabulous) cake topper came from, check out Magic Mud. They were wonderful to work with through the whole process… I never dreamed when I asked Randy to find the cake topper that this would be what he had in mind… what a surprise to show up and find this one-of-a-kind work of art… it was the hit of the party!