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“We had a wonderful experience selling our house with Gretchen. She was very professional and well prepared for the presentation of our property to the public. All behind the scenes activities were taken care of very swiftly and with such care. Although our house was empty, her crew and inventory of staging items made the house warm and inviting to all who entered. We closed in 40 days with a cash offer!”
Andrew & Leslie
Read more great testimonials on my website!
West Hawaii Real Estate Update
January, 2015: Volume 12, Issue 1
Kona saw house, condo, and land overall sales of 975 for the close of 2014. That is shy 74 units from 2013 and it is mostly attributable to the change in prices.
Price appreciation was substantial in 2014. In the under-a-million category, houses saw 64 fewer sales from the 13% increase. Condos saw the same 13% increase but sales were the same at 350. Land knocked one out of the proverbial ballpark with 27% increase in prices which led to only 11 fewer sales.
If you go back to 2011, we have seen a 27% increase in house prices since then and because of that we have truly priced a lot of buyers out of the market. The issue is being compounded by rents rising at the same rate and it is creating a stress in the community over housing. Lending, however, is getting more flexible so if you can buy, you should to avoid rents that would exceed what it would cost you to own.
Notes From Gretchen
The end of 2014 found me in Atlanta with my family enjoying all the usual holiday activities. What fun we had!My folks are in their 80s and going strong, having visited Russia in 2014 for some sightseeing.
My sister’s family includes four almost grown kids who have lots of stories to share, and my brother took a break from touring around the world. Even my new husband was able to join us for the first time, we all enjoyed some good old family togetherness!
Thank you to all that helped make 2014 such a great year, I finished #2 and the office was #9 in Kona residential resales!
Kona Houses Sold Under $1 Million
As the graph illustrates, sales were off this year in houses, down 57 overall from 2013. Condos were down 10 units for the year. Both can be tied back to rising prices and the lack of buyers in these new price ranges.
Featured Vacation Rental
Spacious 4 bedroom home with swimming pool, hot tub and ocean view!This beautiful island getaway is located just minutes above Kailua-Kona town.Check it out on VRBO.
Want to discuss the benefits of turning your Kona home or condo into a vacation rental?
Email me to set up a time to discuss!
A shocking story surfaced this month through the Associated Press. It seems there are scammers working the vacation rental market and leaving tourists with no place to stay!
Hard to understand how truly low one would have to stoop to advertise a for-sale property or worse, one occupied by its owners, as a vacation rental on the internet. The unsuspecting tourists pay the money for their rental and show up only to find that it isn’t a rental after all… awful!
Please be sure to always rent through a reputable agency, such as ours, to make sure you don’t get scammed.
Out on the Town
On our last day in Atlanta most of the family went to the Georgia Aquarium to see some of the most amazing exhibits. One that always makes me realize how large their tanks are is this one of a whale! This is a Beluga whale and there are three of them in this tank, just amazing what a feat of engineering this place is to hold so much water, let alone care for the thousands of marine life in the exhibits, including manta rays, penguins and all kinds of fun stuff.
If you ever are in the area, make sure you put it on your must see list! http://www.georgiaaquarium.org/
Hawaiian Isle Real Estate, LLC
Principal Broker/ Owner
Direct (808) 329-5667#1 in Kona Transactions – 2013
#16 in State of Hawaii – 2013
Creative Advertising Award – 2012
Broker of the Year – 2010