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“Aloha members of the Gretchen Lambeth Club: I hope everyone has at least an experience as rewarding as mine has been. She does not let any grass grow under her feet once she gets going. We decided on my needs and desires and went from there. In about six weeks we closed on my new home in Kona. Thank you Gretchen and all involved for your caring and expertise when I most needed it.”
Read more great testimonials on my website!
West Hawaii Real Estate Update
June, 2014: Volume 11, Issue 6
The news is mixed but consistent with the West Coast so I’m thinking it is a bigger trend but then real estate is always local. In overall sales we did okay with 92 closings, but what this hides is the fact that house sales were only 28. The balance was made up by high condo (42) and land sales (22).
The low house sales are not typical for this time of year and I’m thinking between the tough qualifying and the rising prices that there is a group of buyers that are no longer able to buy or bought a condo instead. Currently under $400,000 there are only 4 fee simple full ownership houses available… wow. Under $500,000 there are only 24, which isn’t much choice. Crossing the $500,000 threshold has historically been an issue for Kona and it might be again.
Of the 28 sales 12 of them were under $500,000, 11 were above that but still below $1 million and 5 were over a million.
Call me to talk specifics!
Notes From Gretchen
I‘m proud to announce that I made the list of Top 100 Realtors for the state of Hawaii! Wow… what great fun to have finally made the list! I’m in a 4-way tie for 16th place with 41 sales. This is a prestigious list of agents given that there are over 2,400 agents with sales just on Hawaii island… imagine how many in the state!
In addition to being published monthly in West Hawaii Today, I was recently interviewed for the Certified Residential Specialist magazine regarding the newsletters I write… click here to read the article.
My Soapbox Forum
In real estate sales we don’t do it alone. If the buyer is using lending then you are hopeful it is a well trained, knowledgeable broker. To that end, I always recommend who my clients should work with since letting them choose with no assistance could lead to a very poor outcome and experience for them, as well as for me. Please be sure to check my website for a list of lenders that are efficient and thorough.
The second component is almost never discussed… by anyone, and I find that very odd. Most buyers know that here in Hawaii we have to go through ‘escrow’ to close… it is our mechanism to get all the contract items documented and all information exchanged. It is typically also where you buy your title insurance, the main business they are in.
I think this process is highly undervalued in dollars and by those that use it. If they don’t do their job correctly, you won’t close on time or maybe ever depending on how well or poorly they do it. Personally I never leave this to chance and recommend to my sellers to always specify whom to use so that I can ensure they have a quality experience. As for buyers, that is a little trickier and depending on the negotiations we may give a little on this front… but we always discuss it.
Kona Condo Sales All Price Ranges
Condo sales are spiking as house sales are dropping… could be tied to the higher price points for houses or just our annual visitor sales as they buy before they leave…
Out on the Town
Well we did it again… we had a great time at the Big Island Jazz Festival at the Mauna Kea Hotel. A very different line-up of artists this year but wonderful music none the less. If you are in town in June, you should really consider going… make sure you buy the VIP tickets to get a table and bring cash to buy your pupus that they sell along with libations!
Life Saving Info:
A family member needed the Hawaii Life Flight (HLF) helicopter this past month and we are so grateful they are here for us! They saved hours in getting them the urgent treatment they needed on Maui.
I have a personal connection with HLF since I sold their mechanic a home last year and told him at the time that I wanted them here in case someone close to me needed speedy medical help… little did I know!
You can join as a member and they waive the members insurance deductible… wow… that is huge!