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“I am very impressed with your professionalism in every aspect of our transaction. Your communications were always prompt & articulate. You are a wealth of information & an expert on Kona real estate. Your work ethic, knowledge, skill sets and personality are outstanding. It was great having you as quarterback on our winning team! I highly recommend your services!”
Read more great testimonials on my website!
West Hawaii Real Estate Update
March, 2014: Volume 11, Issue 3
Kona real estate rebounded last month and closed with 76 overall sales—38 houses—30 condos—8 land.
A recent briefing by Paul Brewbaker, head of TZ Economics, and a wiz at Hawaii real estate info, is seeing a sluggishness in the market on the Big Island. He believes that the lack of big building projects is holding us back.
He seems to think that without construction picking up we may fall short on our market run from his previous predication of it topping out in 2020.
Now that doesn’t mean we are heading off a cliff, but there is reason to be cautious as we move forward. Prices continue to rise and inventories are staying relatively low… all good news for the long haul.
We need the growth that construction brings to every facet of our economy.
Stay tuned, March should give us some good indicators of where we are going.
Notes From Gretchen
As a reminder, we do have a property management division that handles, short and long term rentals and property oversight for those that don’t rent but want someone to care for their property while they are gone… contact Jenni at 808-769-5060.
Our new office is working out nicely! Thanks to all those that have stopped by so far to check it out. And I just love being so close to Jackie Rey’s restaurant… what a terrific spot for great fish for lunch!
Stay tuned for some big news next month!
My Soapbox Forum
Continuing the series in the 5 Traits to Look for in Your Agent written by Tara-Nicholle Nelson.
(Part 3 of 5)
Calm resilience. When you lose out on a home to other offers, it can feel like the end of the world. When you list your home, stage it to the nines, and not a single offer is forthcoming, feelings of discouragement, frustration and even depression can easily arise. In both cases, it’s easy to delve into fear (fear that you’ll never get the home you need, or will never be able to move on to the next stage of your life) or paralysis (freezing up because you just don’t know what to do – period).
A great agent – and there are thousands and thousands out there – can bring a massive, game-changing dose of calm resilience to the table. They’ve been through this before. They know that there are lots of homes and lots of buyers out there, so losing out on any one is not a death knell to your dreams. They also know how to tell the difference between a normal delay in receiving an offer or an acceptance and when your approach requires some serious course correction.
A great agent will be able to receive the news that you’ve lost out on a home or take in negative feedback from a prospective buyer, call you and deliver it calmly and right along with some smart, constructive suggestions for action items you should work on next, to keep the process moving forward.
North Kona Residential Sold Price Trend
These houses/condos were listed under $1 million and have an average sales price of $397,344… great news for Kona!
Off Island Owners
The State Real Estate Commission recently (Nov. 2013) clarified the obscure language in the rental and oversight of properties…You can NOT use someone other than a licensed agent to oversee your property UNLESS they are an employee that you issue a W-2 to each year. By state law, every off island owner who rents their property must identify an on-island representative or be fined by the Department of Taxation… read more by following this link to the Real Estate Commission’s quarterly report.
We have a special program to cover owners who don’t need any services, but want to meet the letter of the law. It is only $50 per month. Call for details!