Second month in a row that homes sales met or exceeded last years numbers - is this the sign? These numbers are reported by the Hawaii MLS and your favorite Realtors.
I dont know - do you ever know? Anyway - take a look at the numbers and decide for yourself - its your money - not mine :)
Its actually easier to download and read from my webpage - click on - Market Reports - on the left side of the page!
Never thought I would see the day, that beautiful condo complex in Waikoloa Beach Resort, known as Kolea, has 3 active foreclosure listings, at unbelievable prices. Were talking Oceanside swimming pool and Jacuzzi, work out room, owners club that includes use of the Oceanfront Hales, were talking luxury at its finest - this place even out classes Mauna Lani Resort !
Unit 16G - ground floor unit, listed at $499,000 - Developer sold this unit for $890,000 in 2006
Unit 9F - 3rd floor, with shoreline views down into the beach at A-bay! not huge views - but views - great vacation rental potential - listed at $510,000 - developer sold for $1,049,000. back in 2006
Unit 16M - 3rd floor end unit, extra windows, skylights, - some views - listed at $537,900 - sold by developer for $1,195,000 back in 2006
If I only had 16M, located where 9F is, at 16G's price - I can dream cant I - I mean at less than 50 cents on the dollar - how can you beat it?
Here is an active list as of July 1, 2009
Copyright 7/1/2009 by Hawaii Information Service
Search criteria: TMK Project Kolea Condo Villas. MLS Status Active
This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.
Hawaii Real Estate Market - a spike or are we are on our way to recovery?
With less than a week left in the month, Kona is still tracking just one shy of last years home sales. I think that is pretty good - considering that we were off by <65%> in January. I pulled out my crystal ball and cleaned it up a bit - and it told me that we would match last years sales, if not beat it by one.
Is this a trend? or just a spike ?
Well - last months sales were dead even with May 2008 numbers, so I would say that we may be recovering? I think a lot of it has to do with the prices - we now have 16 homes listed as active for under $300,000 !!!
Here is a list of those homes
Copyright 6/24/2009 by Hawaii Information Service
Search criteria: TMK Taxkey 3-7. MLS Status Active. MLS Form Residential. MLS Price to 300,000
MLS DATA
MLS #
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This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.
I know, your probably thinking it must be sitting on the edge of the current Lava flow, but NO - this is actually in the center of Kailua Kona, about 1,500 feet from the beach you see below.
Yes it is a handyman special, and yes it is a Short Sale - but - 1,500 feet from that beach - under $200,000?
I have one, 5 houses away from there - for $249,000 - and I bet the bank would accept $225,000 - So what are you waiting for. Interest Rates to go up?
Its really hard to concentrate on work - when all you hear is the surf slamming in the background - here is the surf report
3-4 ft. waist to chest high with occasional 5 ft. and fair-good conditions.
New SSW swell looks like it is trying to fill in along the coast this morning. Waves are in the waist to chest high range with some near head high sets. Winds light in the morning with onshore sea breezes in the afternoon.
WEATHER: Mostly sunny in the morning, then mostly cloudy with scattered showers in the afternoon. Haze through the day. Highs around 86 at the shore to around 71 at 5000 feet. Light winds becoming west around 10 mph in the late morning and afternoon. Chance of rain 40 percent. BIG ISLAND HAWAII SOUTH'S REGIONAL OVERVIEW: Another day of solid waves for southern exposures as that new SSW swell looks to be filling in this morning. Waves along the Kona coast and southern shorelines are in the solid waist to chest high range with an inconsistent near head/overhead high set. Windswell has disappeared so mostly flat conditions for the north and east exposures. Trade winds are decreasing so get on it early for glassy morning conditions. Is there more surf on the horizon? Check our extended forecast for all the details.
Not a bad day at the beach
So why I am here I might as well plug a couple of my listings - all within a couple of miles of the these surf spots.
Kona Pacific -4th floor - ocean views - 1 bed 2 bath unit- vacation rental approved $229,000. 300 feet from the ocean
Kona Alii - peek a boo ocean view - located on Alii Drive - 1 bedroom, 2 bath - vacatoin rental approved $199,000. - 150 feet from the ocean
Kahaluu Bay VIllas - Ocean Views - Ocean Views - 2 bed , 2 bath - vacation rental approved $330,000 - across the street from Kahaluu Beach
Kailua Kona, Foreclosure and Short Sale Specialist
Lance Owens | Aloha Kona Realty Inc | 808-936-8383
73-1048 AHULANI ST, Kailua Kona, Hi, HI
Kailua Kona Pre Foreclosure, Short Sales, and REO Bank Owned Property.
4BR/3BA Single Family House
offered at $449,000
Year Built
2003
Sq Footage
2,000
Bedrooms
4
Bathrooms
3 full, 0 partial
Floors
2
Parking
Unspecified
Lot Size
15,000 sqft
HOA/Maint
$0 per month
DESCRIPTION
The pride the owner has taken in this home is evident throughout. You get a good feeling just pulling onto the wide driveway. A wide (almost grand) staircase ascends to the main living area where you have 3 bedrooms, 2 baths and great coastline views. You can tell nothing was spared in the building of this home. Take a look at the upper-end appliances, granite counters, quartzite tiled floors, quality carpeting and commanding ocean view from the entire makai side of the home. The photos show its current status. Furnishings will be available by a separate Bill of Sale outside of escrow. The many windows provide lots of light and natural air circulation even in the upper-level bathrooms! Huge bonus room downstairs with its own entry, 3/4 bath, mini-fridge, granite counters and wood cabinets. This room was very tastefully done, but without permits. It could be used as a separate ohana or family space. The yard is nicely landscaped and has been well maintained. Additional catchment water tank tucked away behind the house. This is still a quiet neighborhood location, but its convenience has been enhanced by its connection via Nana and Holoholo Streets to Kaiminani Drive.
Approximatly $8,500.00 left on water assesment to be passed on to Buyer - payment plan currently at $65.00 a month.
This is to be a Short Sale subject to lender's approval.
Dont be confused by all the rumors - 9 short sales have closed in the last 90 days - according to the Hawaii MLS system
see additional photos below
PROPERTY FEATURES
High/Vaulted ceiling
Walk-in closet
Hardwood floor
Tile floor
Living room
Dishwasher
Refrigerator
Stove/Oven
Microwave
Granite countertop
Stainless steel appliances
Washer
Dryer
Laundry area - inside
Balcony, Deck, or Patio
Yard
OTHER SPECIAL FEATURES
Foreclosure Specialist dealing in Short Sales, and REO Property
Lance Owens | Aloha Kona Realty Inc | 808-936-8383
75-6152 HAKU MELE PL, Kailua Kona, Hi, HI
As of this moment - this is the absolute best and lowest price in this subdivision - per square foot!
Short Sale Subject to Lenders Approval
4BR/3BA Single Family House
offered at $399,000
Year Built
2007
Sq Footage
1,680
Bedrooms
4
Bathrooms
3 full, 0 partial
Floors
2
Parking
2 Car garage
Lot Size
5,998 sqft
HOA/Maint
$17 per month
DESCRIPTION
* Premium View Lot (6,000 sqft)
* 1,680 sqft Home - 4 Bedroom 3 bath
* Holualoa School District (according to DOE)
* Central A/C
* 4 Bedrooms
* 3 Full Baths
* 2 Car Garage
* Laundry area inside home (not garage)
* Fenced Back Yard
* Landscaped
* Rock walls built in back yard – expanding usable lot area
* I know I already told you this was a view lot – BUT THE VIEWS ARE AWESOME – White water, shoreline, City lights, straight out into the deep blue sea.
* Underground utilities, sidewalks, street lights, (don’t laugh – that’s a big plus in Kona)
* Community park in Subdivision – Baseball and Soccer fields
This is a short sale - but don't Be afraid of a Short Sale !
Its easy, and in this case it can be fast, its better than buying a foreclosure - you get Disclosures, you get a homeowner that still has pride in their home, not someone that is bitter and has walked away - stripping the home of anything valuable - this home is in great shape.
Aloha and have a great day!
Lance Owens (RS)
(808) 936-8383
Lance Owens | Aloha Kona Realty Inc | 808-936-8383
75-6101 KAANEE PL, Kailua Kona, Hi, HI
Pre Foreclosure - short sale - foreclosure - Please READ
3BR/2BA Single Family House
offered at $339,000
Year Built
2005
Sq Footage
1,092
Bedrooms
3
Bathrooms
2 full, 0 partial
Floors
1
Parking
2 Car garage
Lot Size
7,000 sqft
HOA/Maint
$17 per month
DESCRIPTION
$339,000 says it all – This is a short sale, and final sales price is subject to Banks approval.
DON’T be afraid of a short sale – I get paid to perform BPOs for the banks (Broker Price Opinion) – the banks use these to base the list price of a Foreclosure Property. They usually want a price that the property will sell within 60 days – so this price is not just some teaser price – something I just pulled out of a hat – this is a realistic price! This home needs a little TLC, maybe $10,000 to make it like a brand new home. So I took comps for the area, took into consideration some of the developers perks and arrived at this price. Comp 1 being a brand new home the developer sold for $395,000 – they set the new bar for prices with this sale, they don’t disclose on the MLS what incentives they gave the buyer at time of sale – but they are offering a lot.
So why not wait until it is a foreclosure – I will get it cheaper? The answer is not usually – first of all there is the hidden cost that you never think about. The homeowner that is selling a property in a short sale process, they still have pride of ownership – they are willing to do whatever it takes to save their home from going back to the bank, They have to disclose any defects in the property – by law, you have legal remedies if something was not disclosed, any warranties that may be left on the home/roofing/air conditioning/appliances/termite treatment are all transferable and title insurance is easy to obtain.
The foreclosure home comes with no warranties! Comes with no disclosures, comes with no legal remedies to defects in the property, and many times the homeowners are bitter and take anything of value, and I have even heard of owners sabotaging the properties as the leave, and at certain dollar levels – title insurance becomes harder to obtain. Don’t get me wrong – there are deals to be had with both Short Sales and Foreclosures – just don’t believe everything you hear on late night TV – they are in it for the buck – they are there to sell you their program – and believe me – if worked as good as they say it does – they wouldn’t be on TV sharing it with the World!
Hey can we talk about the HOME now
* Located in Pualani Estates Subdivision – where pride in ownership is evident anywhere you go.
* 7,000 sqft Lot
* 1,146 sqft Home (built in 2005)
* Central A/C
* 3 Bedrooms
* 2 Full Baths
* 2 Car Garage
* Landscaped
* Rock walls
* Holualoa School District (according to DOE)
* Underground utilities, sidewalks, street lights, (don’t laugh – that’s a big plus in Kona)
* Community park in Subdivision – Baseball and Soccer fields
Best thing of all – You’re not going to find a better Value in Pualani Estates
Disclaimer: I am a Licensed Realtor - not a licensed Contractor - please hire one to give you an estimate on any repairs this home may need! Always protect yourself.
Aloha and have a great day!
Lance Owens (RS)
(808) 936-8383
This is a fine, clean and attractive condominium in the esteemed Kona Pacific complex close to the blue ocean. Notable renovations include large ceramic floor tile throughout, newer kitchen cabinets and bath vanities, good quality ceiling fans with lights ... and more. Other amenities include owner's closet, lots of storage, stacked washer and dryer, mirrored closet doors and mirrored wall to visually expand the unit. Separate AC units allow you to zone your use and contain your utility charges. Sunsets and a nearby ocean view can be seen from your spacious lanai; a distant shoreline view also enhances the interior. Furnishings available on a separate Bill of Sale outside of escrow. Convenient location just off an elevator lobby (but NOT next to the elevator shaft) and not far from the pool and recreation deck. This complex is constructed in masonry with parking on its ground level. Several elevators, interconnecting interior corridors and sidewalk ramps make access easy throughout Kona Pacific. Pool has just been renovated. Complex is on south edge of Kailua-Kona town's central area; easy walk to many restaurants and shops. Monthly association dues are approximately $485.00.
This is a Short Sale, which may entail a distinct approach by all parties to achieve a successful transaction.
Dont be confused by all the misconceptions about Short Sales - according to the Hawaii MLS - 10 short sales have closed in the last 90 days - this could be number 11
Seller holds an active real estate license in the State of California.
Everybody said watch out - when it turns - its going to take off - Is this the turn? All I do is report the facts - you tell me if this is the turn.
So watching the numbers, this year has been pretty bad, started out in January down <65%> from 2008 - WOW.
Then February was off by <31%> - pretty bad - but twice as good as January.
March came a long with only <25%> decrease - slowly moving up.
April - back off by <30%> - Still far better than Januarys numbers!
May - now that's what this Blog is about - we matched our sales for 2008 - at least in home sales, which I feel is better Gage for the economy versus Condo sales. Of the 28 reported sales on the MLS, 18 of them were under $500,000 - and 2 of them were over $1,000,000 (one was actually $5,850,000.00 - where was I for that one) .
The good news for Sellers - things are starting to sell again
The good news for Buyers - there are still at a bargain - down <22.99%> from last year - for now at least!
So was May just a blip on the map - well looking at Junes numbers so far - we are tracking 1 shy of what we did last year - so MY initial reaction is - this may start to be a trend here on the Big Island. I know the other Islands are not as fortunate as the Big Island, but the Big Island has always been different the the rest of the Island chain. According to studies (and my own personal experience) You Kona home buyer is someone that has been to the Islands many times, has spent the past few trips on the big island, and has fallen in love with the spirit of the Big Island. I dont know how many people know this - but you can take all the other islands combined, double them in size, and put them on the Big Island, and you would still have room left over - that along with the fact that we have 11 of the worlds 13 climate zones, and the most perfect weather zone of the Islands right here in Kona, and what we call - Lake Pacific - right out your front door. I can go on for hours - just take a look at my my webpage - look under personal photos tab to your left and you will see what I am talking about!
Enough for now - Aloha
Visit my webpage below for all the market reports.
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High/Vaulted ceiling
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