Top Menu

West Hawaii Real Estate Update: January 2014

To receive our monthly newsletter, please Click Here to enter your mailing address.

View our Archived Articles Here

header

Testimonial

“Angela and I were very happy to use your services. You really helped us find what we needed and make the process simple. We definitely plan on keeping up with the market and using your advice. Thanks for everything!”  Fletcher/Burke

 Read more of this great testimonial on my website!

West Hawaii Real Estate Update

January, 2014: Volume 11, Issue 1

Kona had a great year in real estate sales! We were up almost 20% in transactions over 2012, ending at a total of houses, condos, and land of 1,049. The breakdown was as follows:

Total Transactions 2013
2013UP
Houses48912%
Condos3749%
Land18339%

 

Average Sales Price Listed under $1M 2013
2013UP
Houses$475,22712%
Condos$240,8498%
Land$206,5953%

 

Days on the market continues to fall and the average is now under 100 for residential. Cash sales for all types of property combined is still 49% of the Kona market, although it is dropping for residential. Land sales that typically have to be all cash are carrying this number.

There has been a big uptick in land sales as buyers can’t find what they want already built or it has become cheaper to build than to buy in the area they want. Call me today for more!

My Soapbox Forum

Got this off a fabulous Trulia blog thanks to an eagle-eyed client… best one I’ve ever seen… read on for the installment version but here is a link to the entire article:

5 Traits to Look for in Your Agent
written by Tara-Nicholle Nelson
(Part 1 of 5)

Creativity—Some transactions go precisely as planned, others get messy.

  • The loan underwriter issues bizzaro, last-minute document demands
  • The appraisal comes in low
  • The buyer backs out
  • You see 50 homes without any winners, or
  • The inspection reports reveal issues that make you wonder whether the home is a diamond in the rough or a money pit.

Whether your transaction will be easy-peasy or uber-messy, you cannot know until you’re in it. When agent-hunting, it behooves you to look for someone who has the experience and creative problem-solving skill to help you methodically think through the facts, surface alternatives, propose solutions and engineer obstacle workarounds—just in case the going gets tough.


Stay tuned for next month’s installment!

 

Notes From Gretchen

We are moved! It wore us out but we are happily ensconced in our new digs and loving every minute of it! What a great Christmas present!

As for the end of the year stats… I’m number one in transaction volume in the area of Kona/Kohala, thanks to the help of you, my loyal clients… yeah! This sure helps me understand all types of transactions since I do so many of them each year. The office is ranked 11th out of 154… way to go team!

Be sure to call me if you have any real estate questions!

Kona Sales Houses/Condos For 2013

2006 was the last time we had this amount of sales volume, which is now 7 years ago… wow!

Economic News

  • Mortgage delinquency rates in 2013 in the US dropped 23.3% over 2012… wow!

  • The total number of US bankruptcy filings in 2013 were down 13%.
  • Hawaii County’s construction industry expects to grow 29.7% from 2010 to 2020.
  • The Fairmont Orchid at the Mauna Lani was awarded the prestigious Platinum Circle which recognizes consistency in excellence for properties that make the Gold List 5 years in a row.
  • Hawaii is again the healthiest state in the nation according to the United Health Foundation.

Out On The Town

Well as a fun ending to the year we flew to Oahu and met friends for a great concert! Jimmy Buffett likes to end his annual tours in Hawaii since his birthday is Christmas day… and he likes to spend his birthday on Oahu. He and his band treated us to an evening of fun songs and crowds of people singing and dancing in their seats at the Shell in Waikiki… would recommend going next year if he comes, you can bet I’ll be there!

Market Snapshot

Closed in
December, 2013

For Sale in
January, 2014

Kailua-Kona:

37 Homes
31 Condos
13 Land

Sold

Kohala:

15 Homes
10 Condos
11 Land

Kailua-Kona:

216 Homes
146 Condos
196 Land

For Sale

Kohala:

133 Homes
133 Condos
78 Land

Gretchen L. Lambeth

Hawaiian Isle Real Estate, LLC
Realtor(B)
Principal Broker/ Owner

Direct (808) 329-5667

WHAR Creative Advertising Award 2012
Broker of the Year – 2010

This newsletter is available via monthly email. Visit my website to subscribe.Search all available Big Island homes online at http://www.hawaiirealestatedreams.com/