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West Hawaii Real Estate Update: November, 2013

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Testimonial

“Gretchen was outstanding in negotiations with multiple buyers and put together a great marketing package. I wouldn’t hesitate to recommend her knowing that she’ll approach each real estate transaction with professionalism while keeping her client’s best interests in mind.”   Che Garcia

Read more of this great testimonial on my website!

West Hawaii Real Estate Update

November, 2013: Volume 10, Issue 11

Kona sales this past month were flat against September. Not unexpected given the huge upheaval in Washington. We closed out the month with a total of 76 house, condo and land sales. House sales were half of what we had been seeing for most of the year with only 28, condo sales were about right with 27, and land sales doubled from September to 21.

Remember land sales are mostly all cash deals since it takes roughly 30% down to get a loan with a higher interest rate that probably only runs a few years… not cost effective to use most of the time.

Interest rates are cooling off of their rapid rise and are dropping back into the low 4% range… good news!

Inventories, though up this month, aren’t offering many options under $500K, leaving most buyers with little to choose from… only 33 as of today… fee simple, not a CPR… that leads to bidding wars!

My Soapbox Forum

This newsletter is typically about facts, information and current news… and rarely my opinion, however this month I will deviate.

I think every person should have an attorney who knows them, that they can call in an emergency. I think the same of an accountant, a doctor, my plumber… you get the picture.

In real estate that is not the case. They tend to be one transaction relationships and we are called in when the decision has been made to buy or sell… regardless of the fact that the timing might be bad.

I strongly believe that you need a plan for every physical asset you own and if you don’t have one you are at risk of losing its potential.

I love clients that have seen the light and are strategically planning how to maximize their holdings and time their transactions to what the market is doing and not what their life circumstances might be trying to dictate.

I enjoy doing this kind of work so please call or email me today… and the best part is it is free! My hope is you will want to stick with me and use me as your agent as time goes on and that is the best reward of all! Call me today!

Notes From Gretchen

Big news! We are moving our office in December to Pottery Terrace! We will have a much larger space and an ocean view with the convenience of still being in town. We should be in our new digs by Christmas so plan to stop by and see us.

As Thanksgiving approaches and the end of the year draws near, I think it is the rare individual who doesn’t count their blessings. Ours this year has been the return of the market so that sellers who have been wanting to sell for years can finally make that move… we look forward to the better years ahead. Mahalo and aloha!

Kona Residential Inventory Under $1 Million

We are very close to reaching the lows of 2005 when our sales were at record highs, as were our sales prices… those days appear to be headed our way again!

By the Numbers

The end of the third quarter saw our price point rise… check out the ranges below for Q3 Sales:

Kona Houses SoldKona Condos Sold
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Up to $300,000 ….. 8Up to $100,000 ….. 6
$300K to $400K ….. 30$100K to $200K ….. 25
$400K to $500K ….. 36$200K to $300K ….. 30
$500K to $600K ….. 6$300K to $400K ….. 18
$600K to $700K ….. 17$400K to $500K ….. 5
$700K to $800K ….. 6$500K and up ….. 7
$800K to $1M….. 4
$1M and up…..15
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Out On The Town

Playing tour guide to a recent guest I got to visit this wonderful and unique place on the Kona coast. The ancient game that my friend and I are playing was used to gamble with and settle disputes… not sure how you play it with so many pieces but we had a blast walking thru all the exhibits. There is a recorded program you can dial into with your cell phone that tells you all of the history… it was very fascinating!

Congrats to Andre for winning last month’s contest… turns out she went there on her first date with her now husband so it brought back great memories for her… the beach is called, Keawaiki. The rules to play this month are simple… name the location and in case we need a tie breaker, the ancient game we are playing… family and other Realtors aren’t eligible to win but you are welcome to play, love to hear from you. A hui ho!

Market Snapshot

Closed in

October, 2013

For Sale in

November, 2013

Kailua-Kona:

28 Homes

27 Condos

21 Land

Sold

Kohala:

18 Homes

25 Condos

2 Land

Kailua-Kona:

201 Homes

139 Condos

195 Land

For Sale

Kohala:

118 Homes

137 Condos

86 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

75-170 Hualalai Road, D-115

Kailua-Kona, Hawaii 96740

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