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West Hawaii Real Estate Update: October 2013

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Testimonial

“Thank you for your support during the short sale of our condo. Your professionalism and commitment went above and beyond our expectations. We received our foreclosure letters and panicked not knowing what was next, but you kept us calm and reassured us that it was moving in the right direction. You came highly recommended for a reason… we trusted you a 100% of the way!” J & J

Read more of this great testimonial on my website!

West Hawaii Real Estate Update

 October, 2013: Volume 10, Issue 10

Sales in Kona slowed for September to 75 houses, condos, and land closings. However, many factors played into that including higher interest rates, low inventory and at that time, a looming budget fight. The amazing part of that story is that it was the highest September we had had in years… so it isn’t all bad news! See the graph below.

Pending sales are at 209, off their high of 250 in May at the end of high season. Normally I would say look to see this rise in the next few months but with the lingering budget issues and tight inventory possibly not. Although the silver lining to the budget issue is that interest rates dropped back down so you might want to take advantage of that opportunity.

I don’t think they will be this low again for a very long time, if ever. Expect to see them back up at sustainable levels of around 6% in a few years.

Call or email me today to discuss Kona real estate!

Economic News

  • Hawaiian Airlines will offer a first ever non-stop Kona to LA flight here three times a week but only for part of the year. Those wanting to travel June 26 thru Sept. 19th should check out these new options!
  • Pacific Business News reported possibly why Hawaiian is adding the new Kona flight and others like it, the number one market for visitors arrivals is… the U.S. West coast!
  • The visitor count from the U.S. West in August was 301,323. That was just one month!
  • Ever wonder how median prices compare with other islands? Take a look!

Oahu Houses $675,000
Oahu Condos $248,000

Maui Houses $470,000
Maui Condos $350,000

Kauai Houses $490,000
Kauai Condos $207,500

Big Island Houses $280,000
Big Island Condos $315,000

Remember luxury sales will drive some of these numbers artificially high.

Notes From Gretchen

This past summer I was interviewed by a national real estate magazine, The Residential Specialist, and the article was recently published, click here to read it. Even though I am regularly used by the local paper as their expert, it is very fun to see my views in a national magazine!

Recently I have been helping clients looking for agents in other locations. This works out great since I have an extensive network of agents all over the USA thru different organizations I belong to, so let me know if you need an expert REALTOR and I’ll find you one!

Kona September Sales—2005 to 2013 …

My website has the companion graphs to this one for inventory levels and pending sales … very interesting to see just how much progress our market has made!

Cool Stuff

Watch Ironman live on your computer next year at www.Ironman.com

Ultimate Beach Guide with GPS Locations, Amazon carries it for almost nothing and it has those hard to find places on it!

A new lava map of the Big Island is out and it’s a very cool color visual and you can see how Hualalai protects Kailua Village, click here to see it!

If you had to short sale your home a few years ago, FHA now has a new loan program for you if you want to repurchase, click here to read more.

Out On The Town

Congrats to Dick LaBar for correctly guessing Atlantis Submarine! Even though he and his wife Linda had me sell their home in Kona Vistas years ago, they are still avid newsletter readers and Kona real estate watchers.

This month we kept the adventure local again and it ties into my Cool Tips section of remote beaches… this black sand beach is in Kohala, can you guess the name of it? Quite the hike to get to it since it has a locked gate at the highway; there were just a handful of people who braved the trek in that day. This photo is only half the beach, huge crescent coarse black sand… and very windy!

So the first correct answer from someone who hasn’t won this year and isn’t a Realtor will win my Starbucks gift card. Hopefully this will encourage all of you that don’t usually play to take a try at it this month… good luck!

Market Snapshot

Closed in
September, 2013

For Sale in
October, 2013

Kailua-Kona:

46 Homes
33 Condos
17 Land

Sold

Kohala:

20 Homes
23 Condos
4 Land

Kailua-Kona:

194 Homes
124 Condos
191 Land

For Sale

Kohala:

107 Homes
112 Condos
77 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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