This morning I was looking for a condo for sale in Mauna Lani Resort. I stumbled upon something very interesting in the beautiful Ka Milo neighborhood: a one quarter share ownership opportunity for only $175,000 plus one quarter of the monthly dues. Increasingly popular on the mainland, fractional ownership listings began to appear on the Big Island when the prices were going through the roof in 2006.
Archive for the ‘Big Island Hawaii Real Estate’ Category
Fractional Condo at Mauna Lani Resort
Wednesday, November 10th, 2010South Kohala Condo Sales
Wednesday, October 27th, 2010I was listening to a news story that Oahu brokers are confident their market has stabilized, and appears to be appreciating again, finally. What’s happening in our market? I took a look at the data, by quarter, for condo sales here in South Kohala, Hawaii Island. This area includes the tennis and golf Mauna Kea Resort, Mauna Lani Resort, Waikoloa Beach Resort, and affordable Waikoloa Village.
Hawaii’s winter selling season is fast approaching. If you would like more specific information about a particular neighborhood, or if you would like to see new listings as they come on the market, please ask for my new listing subscription service. You’ll have your finger on our local market pulse!
Pending Recovery
Friday, September 3rd, 2010Part 4 of 4
Investors are entering deeply discounted real estate markets. According to Dr Yun, Las Vegas is experiencing an influx of investors. Since Las Vegas is the nadir of the US housing market drop, this is good news. Refreshingly deep pink firewood blosooms are first to return to a blackened northern forest after a devastating fire. While investors better resemble civil war carpet baggers more than fireweed, their effect is the same. They are the first to venture in, and they provide foundation for future growth.
A Nationwide Perspective
Wednesday, September 1st, 2010Part 3 of 4
Though Dr Yun agreed that real estate is local, especially when it comes to vacation home sales, he provided current statistics for nationwide second home sales. While these national figures do not in any way represent the median statistics for West Hawaii vacation home property sales, they are interesting.
Median sales price – $679,000
Median number of miles from primary residence – 348
Percentage of buyers who purchase with financing – 70%
Median buyer income – $87,500
The Lack of Loans for Vacation Rental Properties
Tuesday, August 31st, 2010Part 2 of 4
Dr Yun commented on our frustration with the lack of loan products to finance second homes which will be used occasionally as short term vacation rentals. Currently only portfolio loans are available for these properties, as the government is not backing second home purchases, regardless of the excellent qualifications of ready buyers or the subject property.
Economist Dr Lawrence Yun: the US Vacation Home Market
Saturday, June 19th, 2010Part 1 of 4
I just returned from the National Association of Realtor’s (NAR) Resort and Second Home Symposium, held this year at Incline Village, Lake Tahoe, Nevada. As a certified Resort and Second Home Property Specialist (RSPS), the Resort Symposium is an opportunity to meet with other brokers who specialize in resort and vacation home properties. We gather to share ideas and solutions, and to hear the latest from industry experts. The headline speaker June 13 was Dr Lawrence Yun, NAR’s chief economist. For the purpose of this discussion, vacation homes and second homes are defined as distinct from investment properties. The later are not intended for use by the owner, and are purchased specifically for return on investment rather than for enjoyment by the owner.
Leisure Travel to Hawaii May Soon Increase
Thursday, June 3rd, 2010A U.S. Travel Association poll taken in April shows a significant increase in perceived “money available for travel.” In October 2008 the Traveler Sentiment Index bottomed below 80, and in April 2010 it was measured at 90. This brighter number suggests consumers may be more confident about their finances, and may be more inclined to travel to Hawaii.
“Interest in travel,” “time available to travel,” and “money available for travel,” variables from which the index is derived, have risen. Unfortunately, the increased cost to travel, and lingering concern about job loss may keep people at home. However, financial factors that influence near-term leisure travel are mostly positive. For example, the percentage of U.S. adults citing a “high level of personal credit card debt” fell from 56% in April 2009 to 46% in April 2010.
Maintaining Distance When Selling Your HI Home
Monday, May 10th, 2010Selling a home in Kona or Kohala can be a very personal experience. After all, this is the place you’ve lived for years. Maybe you renovated the interior with your own two hands. Maybe you got married here. Maybe this is even where you raised your kids. No matter what it is that makes your home, well, home, the decision to sell isn’t one that comes lightly to everyone.
The personal attachment we all have to our homes is part of the reason it can be difficult to sell a Hawaii home.
Your Dream Home: Why Neighborhoods and Communities Matter
Wednesday, April 7th, 2010Finding the right home in Kona isn’t always as easy as relying on a checklist of square footage, number of bathrooms, and the upkeep of the yard. Although these types of features are important when determining where you want to live and raise a family, another important consideration is the neighborhood where your dream house is situated.
Kona and Kohala homes for sale are noted for their family-friendly communities and idyllic backdrop, but that doesn’t mean that every home is ideally placed. Before you purchase a home in any Hawaii city, it’s important to research what the rest of the neighborhood has to offer.
Selling a Home: Why You Have to Engage all Five Senses
Saturday, March 13th, 2010If you’re getting ready to sell a home in Kona, you probably have a checklist of ideas for making your home more marketable. HI homes tend to sell better when they have more immediate appeal; for example, well-tended yards, impeccable siding, and a welcoming kitchen can go a long way in enticing homebuyers in the area. There are a number of ways you and your real estate agent can work together to make these things happen, and one of the best ideas is to ensure that you’re engaging all of the senses.
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