Kailua-Kona, HI Real Estate News

By Kona Home Team (luva llc) Lance Owens (RS), Getting transactions done, when nobody else can!
(Kona Home Team (luva llc))
Not to waste to much of your time, just ran some quick figures for a client, and was a little surprised by the outcome!Currently we have 394 Condos for sale in North Kona (mostly Kailua Kona) - and for the month of December - as of today 12/31/07 - only 14 have sold!  With that I will leave you with a photo of Mauna Kea yesterday - what a treat living here, We left our 80 degree weather, took a 2 hour car ride, and played in the snow Aloha and have a great day   Lance Owens (RS)(808) 936-8383Lance@KonaHomeTeam.comhttp://www.konahometeam.com/Aloha Kona Realty Inc. 78-6740 Alii Drive
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By Kona Home Team (luva llc) Lance Owens (RS), Getting transactions done, when nobody else can!
(Kona Home Team (luva llc))
Even in Hawaii it snows, its funny how many people don't realize that we have snow her on the Big Island, every year. Some years are better than others, but it always happens. I have even seen it snow low enough to cover 3 mountain tops here - what a beautiful scene that is, Mauna Kea, Mauna Loa, Hualalai, that happened my first year here - didn't realize how special that was, and didn't take the time to photograph it.But this is why I love the Big island so much, we have rain forest, deserts, Lava fields, and of course the snow - if you want it. I have watched my outside temp gauge on my truck, go from 85 degrees when I leave my house, until 2 hours later at the top of Mauna Kea, being down in the 20s, always nice to thaw out at the beach afterwards though.I didn't get a chance to go u...
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By Kona Home Team (luva llc) Lance Owens (RS), Getting transactions done, when nobody else can!
(Kona Home Team (luva llc))
The 2007 Ford Ironman has come and gone, and according to most - Kona is the most prestigious race of the year, with its sometimes very hot weather, its sometimes rough seas, and the high winds of Waikoloa, it tends to take the best of the best to win at this race. In fact quite a few favorites were eliminated early in the race this year. (for more on the race follow this link)   http://www.konahometeam.com/bin/web/real_estate?acnt=AR153261&ZKEY=&action=ACTIVATE_FRAMES&button=+West+Hawaii+Today+-+%28Local+Newspaper+%29&linkout_sourcepage=LOCAL_INFO&tm=&linkout=http%3A%2F%2Fwww.westhawaiitoday.com%2F (let me know if this linkl does not work - I tried under my login - so you dont have to register)There is plenty of articles to read about that - but what about the real estate effects, the ...
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By Kona Home Team (luva llc) Lance Owens (RS), Getting transactions done, when nobody else can!
(Kona Home Team (luva llc))
The Condo market Certainly taking a lot harder hit than housing market, but still not to bad. You figure we usually follow Oahu's trend, and looking at the newspaper reporting of Condo sales in Honolulu - Overall, O'ahu's median condo price is up 4.8 percent to $325,000. Ours is not as Rosy as that - but here are the numbers! These are just for the month of September.North Kona Condo's - Number of sales  2006 = 28,     2007 = 18   <-35.71%> North Kona Condo's - Sales Volume in Dollars 2006 = $10,673,522       2007 = $7,026,513  <-34.17%> North Kona Condo  - Median Sales Price 2006 = $355,472        2007 = $332,500    <-6.46%>So, even though we are not as low as Honolulu yet, we are pretty close. But believe me, if you see what you get here for $350,000 vs Honolulu, No comparison - Kona ...
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By Kona Home Team (luva llc) Lance Owens (RS), Getting transactions done, when nobody else can!
(Kona Home Team (luva llc))
Its that time of year again, people from all over the world, Swimming, Biking, Running around Kona ! Its been a great boost for the economy every year - especially after 9-11, there was just a handful of people that didn't make it that year, mostly because they were called to duty. So THANK YOU Ironman. Enough said about that, the reality of living here, and having to deal with - basically shutting down Kona on race day - Well its just easier to get out of town - EARLY that day!So I just wanted to pass on a really cool thing to do that day - Hakalau Forest National Wildlife Refugeopen House. They only open the gates to the public once a year, and believe me - I went last year - I questioned my wife on her sanity - the last thing I wanted to do, was to drive up that mountain and spend th...
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By Kona Home Team (luva llc) Lance Owens (RS), Getting transactions done, when nobody else can!
(Kona Home Team (luva llc))
Her we are in October already, another month under our belts! Well the Sept figures are in , and not bad at all, actually pretty good. Considering what the Newspapers try to portray??? Yesterday's front page newspaper - BIG ISLAND ECONOMY SLOWING - !!! You know, if I were a tourist here on vacation - I would think it is a lot worse than it really is. I mean - SLOWING - what exactly does that mean? Does it mean we are only flying in 200 people a day instead of 300  from Oahu to help fill positions. Does it mean that maybe we can open up Wendy's Keauhou - because their is finally someone to staff it, or maybe - well I could on and on - I will save that for another day. OK Number of North Kona Residential Sales = 2006 (36)  2007 (32) - <11.11%> Sales Volume North Kona Residential Sales = 2...
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By Kona Home Team (luva llc) Lance Owens (RS), Getting transactions done, when nobody else can!
(Kona Home Team (luva llc))
Just a few interesting numbers I put together, when presenting an offer on a house, was priced at $525,000, and just had a price reduction down to $485,000, and my offer was for $440,000 + seller pays all closing costs. here are the numbers61 homes in Kailua Kona, under $500,000 , (north Kona) area currently listed as active13 new listings in the last 30 days9 sales reported in the last 30 days24 price reductions7%  drop on median Home prices from Jan - July (-$5,000. a month drop) When I presented this and a few more facts (just cant remember right now). The sellers had a change in heart and agreed to sell it at  $450,000 + seller pays $5,000 towards closing cost. Every-time I look at the Numbers, you see it in a different way, just depends what side your on. If your looking for a buye...
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By John Petrella
(Local Hawaii Real Estate)
Below is a graph of the number of homes that sold in our North Kona Real Estate District (or District #7) of the Big Island of Hawaii.  The data are over the last 5 years, starting with July 2002 and ending with July 2007.  (Source:  Big Island MLS) John Petrella, REALTOR®ABR®, GRI, Principal BrokerDirect: 808.640.3953Toll Free:  888.935.4633Local Hawaii Real EstateHonesty Integrity Committment159 Keawe St., Suite 1Hilo, HI 96720REALTOR® is a federally registered collective membership mark which identifies a real estate professional who is Member of the NATIONAL ASSOCIATION OF REALTORS® and subscribes to its strict Code of Ethics.
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By Kona Home Team (luva llc) Lance Owens (RS), Getting transactions done, when nobody else can!
(Kona Home Team (luva llc))
Sometimes we get caught up in the day to day routines of our jobs, that we forget to slow down , take a deep breath, and appreciate what we have. Well this just happened to me! But I have had so many comments on my 2 newest listings, that it made me sit back and smell the roses. I re-looked at my strategies, looked at my listings, took the comments to heart, and realized that I am really lucky. One of my listings is $60,000 less than a unit right next door, I happened to ask the Realtor that was showing my unit, if she had seen the one next door yet, she looked back at her listing sheet, and said it wasn't on there, I took a look at it and said, OH you stopped your search at $500,000. - thats why. The Realtor and her clients questioned me as to why mine was so much less than the one nex...
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By John Petrella
(Local Hawaii Real Estate)
Below is a graph of the number of parcels which were sold in our North Kona Real Estate District (or District #7) of the Big Island of Hawaii.  The data are over the last 5 years, starting with July 2002 and ending with July 2007.  (Source:  Big Island MLS) John Petrella, REALTOR®ABR®, GRI, Principal Broker Direct: 808.640.3953Toll Free:  888.935.4633Local Hawaii Real EstateHonesty Integrity Committment159 Keawe St., Suite 1Hilo, HI 96720REALTOR® is a federally registered collective membership mark which identifies a real estate professional who is Member of the NATIONAL ASSOCIATION OF REALTORS® and subscribes to its strict Code of Ethics.
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By Kona Home Team (luva llc) Lance Owens (RS), Getting transactions done, when nobody else can!
(Kona Home Team (luva llc))
AlohaJust a mid month Update on Kailua Kona, Housing market, homes up to $25,000,000 Current single family Homes for sale Priced from $1. - $500,000 There are 55 active listings Priced from $501,000 - $600,000 = 58 active listingsPriced from $601,000 - $700,000 = 54 active listingsPriced from $701,000 - $800,000 = 39 active listingsPriced from $801,000 - $900,000 = 31 active listingsPriced from $901,000 - 1,000,000 = 18 active listings Priced From $1,000,000 - $1,250,000 = 19 active listings Priced from $1,251,000 - $1,500,000 = 29 active listings Priced from $1,501,000 - $2,000,000 = 37 active listingsPriced from $2,000,000 - $3,000,000 = 30 active listingsPriced from $3,000,000 - $5,000,000 = 14 active listings Priced from $5,000,000 - $10,000,000 = 6 active listingsPriced from $10,00...
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By Kona Home Team (luva llc) Lance Owens (RS), Getting transactions done, when nobody else can!
(Kona Home Team (luva llc))
While the rest of the state is in a drought, and under water restrictions - Kona just keeps the rain coming, it has been an unbelievable summer here in Kona, I have not turned on my sprinklers for months, and I can't keep up with the lawn, everywhere you look - grass grows 6 feet tall, trees are green, I can't even take my little path down to Banyans surf spot - the weeds are so TALL! In the 8 years that I have lived here, I used to typically run my A/C from Easter to Halloween; it's only been on 3 times this year.When I speak to the Kona old timers - I mean really old timers, they tell me that this is way Kona used to be, all the time! They talk about how they used to run around as kids, playing in the tall fields of grass, and how the cows would graze all the way down into Kona, thing...
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By Kona Home Team (luva llc) Lance Owens (RS), Getting transactions done, when nobody else can!
(Kona Home Team (luva llc))
Aloha, OK, I am going to upload a copy of the Hawaii MLS statistics for July 2007. There is a lot more to this picture than meets the eyes, so please if your not a licensed agent, or Real Estate Professional, please sit down with someone that is. If your looking for really good agent - I have one you for you - hope your wearing a smile about now, anyways I would love to help you with all your Hawaii Real Estate needs, whether it's buying or selling. So please give me a call or drop me an Email.For now, Aloha and have a great day!Lance Owens (RS)Lance@KonaHomeTeam.comhttp://www.konahometeam.com/Aloha Kona Realty Inc. MLS Sales StatisticsNumber of Sales  422324<98><23.22%> 34702596<874><25.19%>  MONTH OF#% YEAR#%Big JulyIncrease /Increase / TO DATEIncrease /Increase /Island 2006200708/08/2007
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By Kona Home Team (luva llc) Lance Owens (RS), Getting transactions done, when nobody else can!
(Kona Home Team (luva llc))
AlohaToday we are going to go over Condo sales for North Kona, which includes Kailua Kona, Hualalai, Keauhou, and Honalo. The Hawaii MLS groups them all together - so if you would like a more detailed report, just drop me an E-mail, or call me and I can break down your area better. Okay Number of sales - July 2006= 27 & July 2007= 14 , That is a <48.15%> drop in sales. Thats a pretty significant number, especially if you look at, year to date 2006, = 261 & 2007 = 155 , thats a drop of <40.61>, so last months sales are off by another <7.5%> . And to be honest with you last year was no banner year. Hold on a minute - I will go pull the numbers >>>>>>>>OK - I went back through my records and found 2006 vs 2005 2006 we already know was @ 261, but 2005 was @ 396 (put down the calculator) tha...
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By Kona Home Team (luva llc) Lance Owens (RS), Getting transactions done, when nobody else can!
(Kona Home Team (luva llc))
AlohaYesterday we went over the MLS statistics for - Number of Sales - for North Kona - Homes only! Today will be the same, but only in - Total Sales Volume - in dollar amounts.OK total dollar amount is only off by -<6.00%> comparing July 2006 with July 2007 , Not bad, considering year to date was off by -<18.05%> , and if you look back at yesterdays blog - sales were only off by <9.09%>. So we are selling a few less homes, but making a few more dollars on there sale, we will see more of this in tomorrow's blog, I will be going over the July figures for - the Median sales price - its down over last year, but up over last months numbers, By how much? if you cant wait for the numbers, just email or call and I can get you the numbers you need.Thinking about selling your home - Please give ...
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By Kona Home Team (luva llc) Lance Owens (RS), Getting transactions done, when nobody else can!
(Kona Home Team (luva llc))
Aloha and welcome back This week we have discussed - Kailua Kona - Number of homes sold & Sales Volume in $Dollar amount , today we are going to talk about the Median Home Price. Again this is for the district identified by the TMK# as 3-7, (North Kona) which includes Kailua Kona, Keauhou, Honalo and Hualalai. obviously these areas differ tremendously, so if you are looking for a break down in a specific area - please email me personally for more information. Overall though I would say these numbers reflect Kailua Kona the most.OK, according to the statistics we have seen a drop in the median price from $650,000 down to $601,000, (year to date) Thats a <7.54%> decrease, which by all means, in an area that has seen double digit increases for many of the last 5 years, a 7% drop is more li...
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By Kona Home Team (luva llc) Lance Owens (RS), Getting transactions done, when nobody else can!
(Kona Home Team (luva llc))
If you look at the official numbers in the MLS, it shows things slowing down - quite a bit! But I did some of my own research - using my own twisted way - no really I just pulled up - HOMES- listings for the last 30 days, versus the 30 days preceding that, That had gone contingent during that 30 days, and added/multiplied/divided and came up with the figure that - Kona - Home - Contingent - (in escrow) are up over 50% in the last 30 days. SO it  Looks like business is picking up some in Kailua Kona, phones seem to be ringing more, showings are up and best of all - sales appear to be up. Just send me an email if you want me to send you the actual figures I used.If you are thinking about selling soon, let me know - I HAVE SOLD ALL MY HOME LISTINGS AND I NEED MORE!!! I like to specialize i...
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By Kona Home Team (luva llc) Lance Owens (RS), Getting transactions done, when nobody else can!
(Kona Home Team (luva llc))
Latest figures for North Kona Condo Sales are off by more than <39%> (year to date - over last year to date), according to the latest figures. Worse yet is that it shows the market is down over <53%> (June 06 compared to June 07). These areas include Hualalai, Kailua Kona, Keauhou areas - unfortunately it does not actually break it down to the exact area. For a more personalized list - please email me and I can target just your area, I will give you a list of - Active, Contingent, Under Contract, and Sold for the last yearLance@KonaHomeTeam.comwww.KonaHomeTeam.com Lance Owens (RS) Aloha Kona Realty Inc. (808) 936-8383  
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By Kona Home Team (luva llc) Lance Owens (RS), Getting transactions done, when nobody else can!
(Kona Home Team (luva llc))
Whats your Home worth?This is a hard question in todays market, according to the June 2007 MLS statistics home values in West Hawaii (Kailua Kona) have been on the decline for at least the past year and half, Year to date shows that the number of sales for North Kona (also known as West Hawaii???) has declined 18.48%, . So did the gold rush come to halt - NO, has it taken a healthy adjustment - I think so. But there is more to this story - $ volume amounts have also decreased by 18.69% , and the Median home price has dropped 7.54% (from $650,000 - $601,000). But its not as simple as just crunching these numbers, there are so many other factors to consider - one explanation could be that a lot more truly median homes have sold, more so than the $800,000 - $1.2 million that used to take u...
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By Kona Home Team (luva llc) Lance Owens (RS), Getting transactions done, when nobody else can!
(Kona Home Team (luva llc))
Updated 7/5/2007 www.KonaHomeTeam.com  After living in hawaii for more than 20 years, I finally found the most perfect place in the Hawaiian chain.  In ancient time this was considered the premier place to live, due to the excellennt weather and good water. Many Kings made their homes here. Later Missionaries built churches and residences hear, turning this tiny village into a small seaport. Now its home to the, Ford Ironman Triathlalon, the International Billfishing Tournament, and of course that world famous Kona Coffee . I am still working on this, so there will more to come, but please feel to visit my website where I already have a lot of this information. www.KonaHomeTeam.com AlohaLance Owens
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