luva real estate: A Recession Doesn’t Equal A Housing Crisis
- 05/02/23 11:21 AM
Everywhere you look, people are talking about a potential recession. And if you’re planning to buy or sell a house, this may leave you wondering if your plans are still a wise move. To help ease your mind, experts are saying that if we do officially enter a recession, it’ll be mild and short. As the Federal Reserve explained in their March meeting:
“. . . the staff’s projection at the time of the March meeting included a mild recession starting later this year, with a recovery over the subsequent two years.” While a recession may be on the horizon, it won’t be one for the … (2 comments)
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luva real estate: Why You May Want an Energy-Efficient Home [INFOGRAPHIC]
- 04/21/23 11:54 AM
Some Highlights Since inflation is increasing the cost of goods and services, it may make sense to look for an energy-efficient home. Energy prices have increased over the last year, so look for energy-efficient features in your home search. If you’re looking to buy a home this year, let’s connect so you have a partner to help you consider which features are most important to you. … (3 comments)
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luva real estate: What Are Mortgage Rates Doing to Buyers - Its Not What You Think
- 10/04/22 12:06 PM
Aloha, Lance Owens (RS) with LUVA Real Estate bringing you the latest in real estate news and trends. Some days you just wake up screaming (lol) at all the misinformation about the housing market, the news, the internet, the paper, instagram...... so I did a DEEP DIVE into the effect that "double the interest rates" from a year ago, is having on the housing market.
Take a look at my vlog - because its not what you think!
Aloha and Mahalo, reach out if you have any real estate needs on the Big Island
… (2 comments)
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luva real estate: What Sellers Need To Know In Today's Housing Market
- 08/23/22 12:24 PM
If you’re thinking about selling your house, you may have heard about the housing market slowing down in recent months.
Aloha, Lance Owens (RS) with LUVA Real Estate and our partners at KCM here, and while it’s still a sellers’ market, the peak frenzy the market saw over the past two years has cooled some. If you’re asking yourself if you’ve missed your chance to sell your house and make a move, the good news is you haven’t – motivated buyers are still out there. But you do need to price your house right for today’s market. Here’s why.
As Lawrence Yun, Chief … (5 comments)
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luva real estate: Is It Enough To Offer Asking Price in Today’s Housing Market? West Hawaii and National
- 04/27/22 11:02 AM
Is It Enough To Offer Asking Price in Today’s Housing Market? West Hawaii and National Numbers. Lance Owens Lance Owens Your 2022 go to real estate expert for the Big Island of Hawaii -37 years in Hawaii, the last 22 in Kona. Local Expertise you can count on. Published Apr 27, 2022 + Follow Aloha, Lance Owens (RS) with LUVA Real Estate and our Partners at KCM bringing you the latest in real estate news and trends.
If you’re planning to buy a home this season, you’re probably thinking about what you’ll need to do to get your offer accepted. (Read my article on … (2 comments)
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luva real estate: June Market Report - North Kona, Hawaii
- 07/08/21 10:24 AM
Aloha, Lance Owens (RS) here with LUVA Real Estate bringing you our monthly sales report. Talk about some crazy numbers, let's start with......
"Absorption Rate": The term absorption rate refers to a metric used in the real estate market to evaluate the rate at which available homes are sold in a specific market during a given time period. It is calculated by dividing the number of homes sold in the allotted time period by the total number of available homes
With that said, it is generally understood that anything under 15% is a buyers market, anything above 20% is a sellers market. Lets roll back a few years, and we … (2 comments)
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luva real estate: Why Escalation Clauses Are a Bad Idea
- 06/21/21 10:46 AM
Aloha, Lance Owens (RS) here with KonaHomeTeam (luva llc). I go over this topic when training agents, or educating my clients, (both buyers and sellers) - some get it, some don't, and let's face it, if there was one perfect way to negotiate, we would all be doing it!
What is an escalation clause you ask?
Escalation clauses: This is a clause in the offer that states if a competing bona fide offer is made on the property, the buyer’s offer will automatically increase by a certain dollar amount over the competing offer up to a maximum
Reason #1: You just tipped your hat as … (0 comments)
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luva real estate: Why Escalation Clauses Are a Bad Idea in Today's Real Estate Market
- 05/19/21 04:46 PM
Aloha, Lance Owens (RS) here with KonaHomeTeam (luva llc). I go over this topic when training agents, or educating my clients, (both buyers and sellers) - some get it, some don't, and let's face it, if there was one perfect way to negotiate, we would all be doing it!
What is an escalation clause you ask?
Escalation clauses: This is a clause in the offer that states if a competing bona fide offer is made on the property, the buyer’s offer will automatically increase by a certain dollar amount over the competing offer up to a maximum
Reason #1: You just tipped your hat as … (1 comments)
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luva real estate: WHERE IS THE HOUSING MARKET HEADED IN 2020? [INFOGRAPHIC]
- 12/20/19 11:14 AM
Aloha, Lance Owens (RS) with LUVA Real Estate bringing you the latest in real estate news.
Below are what the experts are predicting, but what does Lance Predict? You will have to watch our video for that prediction.
Sign up below, no spam, no sales, just a link to the video. - in the notes, just put "Video", and if you want a list of homes in Hawaii, you can fill in the rest
https://www.konahometeam.com/search-hawaii-mls-homes-land-condos
For past monthly written reports follow this link
https://www.konahometeam.com/housing-statistics-for-hawaii-island
SOME HIGHLIGHTS: Interest rates will be lower than they have been since before 1980 at 3.8% and are projected to remain steady throughout 2020! … (0 comments)
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luva real estate: The Biggest Issue Facing Housing Next Year
- 12/18/19 11:02 AM
This coming year the housing market will be defined by 3 things- inventory, interest rates, and appreciation. But the biggest issue the housing market will face in 2020 is an inventory shortage. There aren’t enough homes on the market for buyers, especially on the lower end of the market. This is a topic that has come up frequently within the past several months.
Based on what is forecasted, we know that interest rates are projected to remain low and that appreciation is expected to continue as we move into 2020. Additionally, the upcoming election will provoke many unique perspectives on the health of the US housing … (0 comments)
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luva real estate: West Hawaii Home Sales UP 88%
- 08/22/19 11:50 AM
Aloha, Lance Owens (RS) with LUVA Real Estate bringing you the monthly market reports and, No that's not a typo, in fact to be exact West Hawaii home sales are up 88.46% , and island wide home sales show an increase of 17% . Crazy numbers... right?
This is exactly why you need a "feet on the ground" Realtor to help navigate you through numbers that don't make since..... I am sitting here laughing, Zillow must be losing their mind right now looking at these numbers.
Anybody that has followed me and my market reports for the past 15 years know how "seasonally" … (0 comments)
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luva real estate: Housing Supply Not Keeping Up with Population
- 08/20/19 11:49 AM
Many buyers are wondering where to find houses for sale in today’s market. It’s a true dilemma. We see an increase in buyer demand, but the supply available for purchase isn’t keeping up.
Aloha, Lance Owens here with LUVA Real Estate bringing you our Real Estate Minute report.
The number of new housing permits issued prior to the great recession increased for 15 years until 2005 (from 1.12 million in 1990 to a pre-recession peak of 2.16 million in 2005). According to Apartment List,
“From 1990 to 2005, the number of single-family permits issued more than doubled, while the number of multi-family permits grew by … (0 comments)
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luva real estate: Hawaii's New Short Term Rental Ordinance - News and Updates July, 2019
- 07/11/19 02:32 PM
I wanted to share a few takeaways from yesterday's meeting with the planning department. First, a Bill becomes an ordinance once it goes into law - prior to, they are always bills - that’s the reason for the change from Bill 108 to the Ordinance 18-114 .
Big Mahalos to the West Hawaii Association of Realtors (WHAR) for being at the forefront of this, and the Planning Department (PD) for their participation, Thank you WHAR members, Mike Drutar, Marissa Ashley, Brian McCourt, Karin Shaw, Linda Swanson and from the planning department, thank you Libby Gillis and Michael Yee.
Disclaimer, this is NOT A LEGAL Opinion, do not base … (0 comments)
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luva real estate: 3 Things To Know In The Housing Market Today
- 06/12/19 11:36 AM
A lot is happening in the world, and it’s having a direct impact on the housing market. The reality is this: some of it is positive and some of it may be negative. Some we just don’t know yet.
Aloha, Lance Owens (RS) with LUVA Real Estate bringing the latest news in Real Estate.
The following three areas of the housing market are critical to understand: interest rates, building materials, and the outlook for an economic slowdown.
1. Interest RatesOne of the most important things to consider when buying a home is the interest rate you will be charged to borrow the money. In … (2 comments)
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luva real estate: Starting The Search For Your Dream Home? Here Are 6 Tips!
- 05/20/19 12:46 PM
In today’s real estate market, low inventory dominates the conversation in many areas of the country. It can often be frustrating to be a first-time homebuyer if you aren’t prepared.
Aloha, Lance Owens (RS) with LUVA Real Estate , bringing you the latest in Real Estate News!
In a new realtor.com article entitled, “How to Find Your Dream Home—Without Losing Your Mind,” the author highlights some steps that first-time homebuyers can take to help carry their excitement of buying a home throughout the whole process.
1. Get Pre-Approved for a Mortgage Before You Start Your Search One way to show you are serious about buying your dream … (1 comments)
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luva real estate: A Tale of Two Markets [INFOGRAPHIC] And Local Insight !
- 05/14/19 12:45 PM
Aloha, Lance Owens (RS) here with LUVA Real Estate, bringing you the latest in real estate news.
Before I jump into the mainland numbers, I wanted to bring you a little local insight.
Short story, you never know what's at the other end of that phone call when you answer it.
One month its buyers wanting condos, next month its land, next week its houses..... tomorrow it’s a new listing!
This month it’s Luxury/Premium home “buyers”, (2 different couples) looking at $800,000 to $1,500,000.
In the past 10 days showing these couples, I have shown 20+ Premium/Luxury homes, and of those 20+, 2 … (0 comments)
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luva real estate: April Housing Minute [Video]
- 04/30/19 01:59 PM
Your April Real Estate Minute with Lance Owens (RS) of LUVA Real Estate
and the National Association of Realtors (NAR) . Good information here and
it only cost you a minute of your time - enjoy
For all your market updates and reports visit our website KonaHomeTeam
#LanceOwens #Realtor #Sales #Reports #SFH #LUVArealEstate #KonaHomeTeam.com #Realtor
… (1 comments)
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luva real estate: Mainland VS Hawaii - Existing Home Sales Slow To Start Spring
- 04/26/19 02:26 PM
It has always intrigued me to look at mainland trends vs Hawaii trends.
Aloha, Lance Owens (RS) here, with LUVA Real Estate and as most of you know, Kona is a sleepy little fishing village, known for its world class Marlin fishing, Golf Courses and the BEST weather in the State, yes I said the best weather in the State of Hawaii. In fact Kona is the only district in Hawaii, whose climate is drier in the winter, than it is in the summer, I wont do any name dropping, but there is a reason our little airport has over 60 private jets parked … (1 comments)
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luva real estate: Hawaii's Bill 108 Becomes Ordinance 18-114 Short Term Vacation Rentals
- 01/03/19 02:52 PM
Aloha, Lance Owens (RS) LUVA Real Estate here, bringing you the latest real estate news. Hawaii's controversial Bill 108 (draft 7) has now been made into “Ordinance 18-114” (see below) putting heavy regulation on Short Term Vacation Rentals in Hawaii, specifically Hawaii Island.
West Hawaii Association of Realtors (WHAR) put a tremendous amount of effort into trying to protect homeowners’ rights as the county moved forward with this “less than perfect” new Bill 108.
It was important to us ALL that homeowner rights were being protected….. we had some partial success on this.
Quick note, as a Realtor, I am neither … (1 comments)
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luva real estate: Buyers: Don't Be Surprised by Closing Cost!
- 11/26/18 11:25 AM
Aloha, Lance Owens (RS) with LUVA Real Estate here, just bringing you our "Real Estate Minute"
Many homebuyers think that saving for their down payment is enough to buy the house of their dreams, but what about the closing costs that are required to obtain a mortgage?
By law, a homebuyer will receive a loan estimate from their lender 3 days after submitting their loan application and they should receive a closing disclosure 3 days before the scheduled closing on their home. The closing disclosure includes final details about the loan and the closing costs.
But what are closing costs anyway?According to Trulia:
“Closing costs are lender and third-party fees … (0 comments)
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Everywhere you look, people are talking about a potential recession. And if you’re planning to buy or sell a house, this may leave you wondering if your plans are still a wise move. To help ease your mind, experts are saying that if we do officially enter a recession, it’ll be mild and short. As the Federal Reserve explained in their March meeting:
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