Top Menu

West Hawaii Real Estate Update: January, 2016

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

View our Archived Articles Here

header

Testimonial

It is no wonder that Gretchen has been ranked as one of the best Realtors in Kona and in the State of Hawaii. We found out firsthand how her full service business and personal attention to her clients can make the onerous task of buying a new home less stressful. And she continues to assist us long-range in questions we have & resources we need. Her services and attention to us as clients did not end with the closing of the house. Thank you for letting us be your clients!
The Padgetts

Read more great testimonials on my website!

West Hawaii Real Estate Update

January, 2016: Volume 13, Issue 1

 In looking back at 2015 in Kona, April had the highest volume of closings, which is indicative of a strong winter buyer’s market. It would appear that a 16% drop in land sales is what held us back in overall sales. Houses and condos were both up slightly at 4% in overall sales, however, this fall condo sales fell off after the four hurricane near misses.

This January is off to a good start with lots of activity but only time will tell if that holds through to closings.

Kohala had a solid year, up almost 10% in volume and its highest closing volume for any month in 9 years with 74 in April.

Kona house price averages listed under $1 million increased to $551,523 up 1.3% from 2014. Condo prices increased by the same exact percentage to $279,346.

With interest rates having dropped in the last month, yes, you read that correctly, it might be a great time to buy!

Notes from Gretchen

The time has just flown by! Even if the market did take a small pause over the fall my business didn’t. There are so many new people moving to Kona it is really amazing. I get one to two calls daily asking for rentals for these new arrivals.

The sales business is busy too… seems everything I put on the market sells so it is turning into a good high season so far.

If you are in town, stop by and meet my newest agent, Kamalani. She is indispensable these days and catching on very quickly to the sales side after coming out of association management. Aloha!

 

Soapbox Forum

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

Frankness and Optimism – You want – no – you need your agent to be frankly honest. You need them to be frankly honest with themselves and with you about all facets of the reality you’ll face as you proceed through your transaction. You need an agent who is willing to tell you the truth and have these sorts of hard conversations with you even when you won’t like it.

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 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.

hula-girl-ivory backIf you know you’re going to want to meet up weekly for house hunting 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.

Just Listed!


Fabulous Ocean View Condo with Garage!

Move right in and start enjoying island life in this furnished and beautifully maintained condominium at Kona Sea Villas. Convenience defines this residence that’s set all on one level with no stairs from the nearby parking and garage to the door. It offers the advantage of a ground floor unit, but also provides drop away ocean views normally found in an upstairs home.

Kona Sea Villas is a quiet condo community with a pool, workout facilities and great location near all the amenities and beaches of Kailua-Kona.

2 BD/ 2 BA • 981 SF of living area • Garage
Maintenance Fee: $578/mo
Offered at $360,000
MLS 292291
For more information or to arrange a showing, give me a call or email me.

The Future

Here is something we haven’t seen much of in recent years – new luxury oceanfront in Kona!

Brookfield Residential is taking over a parcel in Keauhou that wasn’t completed during the downturn. The 40 single family houses slated to be built will probably be the last oceanfront development we will have since there aren’t any more parcels available in town.

Prices will range from $800,000 to $1.7 million, and the subdivision adjoins the Kona Country Club golf course that recently reopened. Homes will vary in size from 1,800 square feet to 2,700. Hurry!

Market Snapshot

Closed in
December
, 2015
For Sale in
January
, 2016

Kailua-Kona:
37 Homes
26 Condos
8 Land

Sold

Kohala:
28 Homes
22 Condos
5 Land

Kailua-Kona:
266 Homes
211 Condos
179 Land

For Sale

Kohala:
159 Homes
231 Condos
87 Land

Gretchen Osgood
Hawaiian Isle Real Estate, LLC
Realtor(B)
Principal Broker/ Owner
Direct (808) 329-5667

Top 100 Agents in Hawaii – 2013 & 2014
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/