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2014 Newsletter May

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Testimonial

 

“My wife and I are so thrilled with our recent house sale. We got a full price offer on the first day and closed the following month! This happened because Gretchen guided us through the process of what it takes to prepare for the sale. So much of the upfront work like cleaning and painting where needed, making sure everything presents well. All the hard work paid off! I highly recommend Gretchen!”

Alister & Jade

Read more great testimonials on my website!

West Hawaii Real Estate Update

May, 2014: Volume 11, Issue 5

 

Kona had a stellar month in sales… 96 overall in land, houses and condos… great news it would seem. However, buried in the statistics is how buyers are more and more frequently turning to land purchases when they can’t find what they want in the already built inventory. And the reason they are doing that instead of waiting for the right house to come along is shown in the pricing graph below… prices are rising quickly these days!

The house market recorded 43 sales which is the highest since last summer and the 39 condos sold was also the high since last summer. Pending house and condo sales don’t look especially exciting at 77 and 67 respectively.

Land sales were average at 14 but I think that is growing quickly with 40 pending transactions as of the end of April for land. We haven’t seen this type of activity in pending land sales for many, many years. Next month will be interesting!

Notes From Gretchen

We celebrated my 55th birthday this weekend at the Hualalai Four Seasons… if we had been any closer to the water we would have been in the sand… what a fabulous location! You really must try either the Beach Tree or their fine dining restaurant, Ulu’s… worth the bucks to have a special dinner there.

Looks like Habanero’s Grill will open soon on Alii Drive, I hear the grand opening is planned in the next few weeks. They are in the old Tres Hombres location… can’t wait!

My Soapbox Forum

Last in the series in the 5 Traits to Look for in Your Agent written by Tara-Nicholle Nelson.

(Part 5 of 5)

Bandwidth. This one might sound strange, but the fact is that it can be difficult to get the advantages of having the best agent in the world if the agent is wildly over-subscribed and so busy they struggle to respond to calls and emails. This is why I don’t always say a great agent will necessarily have years and years of expertise. Some agents who have wonderful experience and wisdom are simply too busy to do the time-intensive guidance your situation may require. And some agents who are new to real estate bring highly relevant expertise and skills they’ve developed in other careers, have ample time to devote to your transaction and can enlist the real estate-specific insights of an experienced team leader, manager or broker.

If you know you’re going to want to meet up weekly for house hunting or debrief with your agent, tell them this up front and ask them how much time they can devote to your process. Make sure you’re comfortable with their response or solution (example – their listing specialist or partner can meet with you when they can’t) before you make your pick.

Kona Residential Sales Listed Under $1 Million

 

 

The prices the last few years have been rising steadily and now we get to see how buyers tolerate a market that has basically nothing under $400,00… stay tuned!

Out on the Town

My Birthday Dinner at Ulu’s at Hualalai Resorts Four Season

 Economic News:

  • USA Today has named Kailua-Kona among the top ten destinations around the world where the weather is just right… boy, I couldn’t agree with that more!
  • Mauna Kea Beach Hotel’s Seaside Tennis Club was ranked No. 6 among the Top 25 tennis resorts in the world according to Tennis Resorts Online.
  • Following two record breaking years, 2014 is seeing a drop in visitor spending by 3.5% and 5.2% fewer guests in March. This may affect our market at some point.
  • The Keauhou Store on Mamalahoa Highway is an amazing surprise! Stop by one day for a real treat and a travel back in time.

Market Snapshot

 

 

Closed in

April, 2014

 

 

For Sale in

May, 2014

Kailua-Kona:

43 Homes

39 Condos

13 Land

Sold

 Kohala:

17 Homes

18 Condos

5 Land

Kailua-Kona:

228  Homes

148  Condos

198  Land

For Sale

Kohala:

117  Homes

146  Condos

81  Land

Gretchen L. LambethHawaiian Isle Real Estate, LLCRealtor(B)

Principal Broker/ OwnerDirect (808) 329-5667

 

WHAR Creative Advertising Award –  2012

Broker of the Year – 2010

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