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West Hawaii Real Estate Update: July, 2016

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Testimonial

“Gretchen is one Realtor that works for her clients every day. Many realtors list property and wait for a sale, and in the intervening time send you a weekly email on how many views looked at your listing. Gretchen works at creating opportunities for her clients, sellers and buyers. If you want a Realtor that works like your Realtor on the mainland, she is it.”
Brooks and Sharon

Read more great testimonials on my website!

West Hawaii Real Estate Update

July, 2016: Volume 13, Issue 5

Kona’s house sales took off this month as condo sales lost ground. House sales were 53 this month and are the highest we have seen since June of 2013, a three-year lull. Nice to see them finally picking up some steam!

The average sales prices for homes listed under $1 million is in the mid-$500’s, fluctuating from month-to-month but riding mostly in the middle numbers.

Condo sales on the other hand dropped yet again to 22 this month, a low that we also saw last October. Not sure what is driving this trend but with rocky world economics, I think our discretionary mainland buyers are staying home. On the other hand, for local buyers this is a great time to buy. With sales suppressed some sellers are willing to negotiate.

hula-girl-ivory backTo get a list of property options, email me with your price range, bedroom count, and view requirements and I’ll set you up to watch the market.

Notes from Gretchen

I went to a Veteran’s United loan presentation a few weeks ago and was blown away by the benefits that the program offers. Besides the biggie 100% financing, they offer jumbo loans (who knew!), cash out refinances, and you can use your certificate more than once or even on two properties at once.

So if you want to find out what it might be able to do for you, call or email Brooks and tell him I sent you!

Brooks Onishi
Loan Officer,
NMLS #1309321
Cell:
808-372-7092
Email:
brooks.onishi@vu.com

Kona House Sales Listed Under $1 Million

Riding in the mid $500’s price wise, sales have ticked up substantially since the beginning of the year.

 

Economic Update

  • Ali’i Palms, a 58-home subdivision that broke ground last year just north of Ali’i Garden Marketplace and south of Ali’i Lani condos has been acquired by Stanford Carr. It will be nice to have some new inventory!
  • Kona is getting a permanent Customs & Border Protection facility according to the governor in a recent town hall meeting. He believes they will have it completed in the next 5 years, meaning we won’t have to rely on using a temporary one in the future, or getting closed like we did some years ago. The new temporary is opening November 1st… yay!

King Kamehameha Day Parade

This parade brings riders from and represents every island… even Kaho’olawe amazing. Fun for everyone to watch and I think half of Kona turned out this year since it was a bright and sunny day.

 

Something To Think About

As the world seems to be in the throes of upheaval and it is unsafe to leave your house in many American and European cities, Kona is still the most peaceful place I’ve ever lived.

Do we have crime? Yes, but it is very low and related persons violence is probably the worst. And when it is stranger crime, it is theft, not murder and rape.

When we count the cost of living in paradise, sometimes the dollars mount but I think what is often left out of the equation is the quality of life. Yes, we have almost year-round warm sunny days and the great Pacific is our backyard, those are the obvious ones.

The less obvious is we don’t have to worry about car bombs or riots, road rage, or random shootings. We don’t even consider them… they just don’t exist here… and that is a much bigger plus in the world we now live in than ever before.

We don’t have so many lanes to our roads that you have to be an expert driver to navigate them… I have always joked this is like driving in the ride at Disneyland it is so easy… difficult actually to get in an accident or get a ticket because we just follow each other around with one lane on each side of the road.

So when you are counting the cost, make sure you count the pluses too! Aloha!

Market Snapshot

Closed in
June, 2016
For Sale in
July, 2016

Kailua-Kona:
53 Homes
22 Condos
11 Land

Sold

Kohala:
14 Homes
14 Condos
9 Land

Kailua-Kona:
267 Homes
240 Condos
204 Land

For Sale

Kohala:
139 Homes
224 Condos
74 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


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