Real Estate

November 2020 Market Update

Continued Positive News For Sellers!! The Island of Hawaii real estate market continues to churn out sales in lessor numbers and volumes than 2019 but Median Sales Prices have not declined, Year over Year, for the first 11 months of 2020 despite the virus pandemic which is limiting travel by buyers and sellers to Hawaii. This is positive news for sellers!  Buyers have less to choose from and prices have firmed up. Sellers usually start listing their properties when they arrive for the winter season which is forthcoming soon in January. This could increase inventories which could quell the issue of low inventory-maybe not. There are still plenty of buyers seeking quality homes and condominiums as mainland markets have become over valued-see the Corelogic Report. Compared to the 2007 market peak on the Kohala Coast, most resort condominiums are still selling below these values. Adjusted for inflation, they are selling way below these prices. Sellers who choose to sell to the limited number of buyers in the market are not expe...

In Escrow Villages at Mauna Lani 636

In Escrow-Upper Deck Maile Floor Plan With Ocean Views and Privacy I just put into escrow this Upper Deck, Maile Plan which offers great, west facing views and large rooms that provide ample room for guests and their privacy!  The new owners will enjoy the spacious upstairs lanais with expansive views and outdoor kitchen including stainless BBQ grill. Luxury Features Quality Maryl construction throughout including solid mahogany doors and trim throughout, bronze finished hardware, cherry cabinets, granite and marble counter tops. The gourmet kitchen includes a Sub Zero refrigerator, Fisher and Paykel dishwasher, Wolf oven, microwave and glass cooktop. Luxury extras include wood ceilings in the greenroom and master bedroom, 6 speaker sound system and stone floors throughout the living room. The dual master bedroom suites include a spacious bath including a large walk in shower, separate soaking tub, double vanities and built in dresser in upper level master bath. The large rear lanai provides sunset views and dis...

In Escrow-Kulalani at Mauna Lani 1805

Kulalani at Mauna Lani 1805 68-1118 North Kaniku Dr Waimea, HI 96743 I just put into escrow one of the best values in condominium ownership within the Mauna Lani Resort at Kulalani at Mauna Lani #1805 listed for $799k. This B-2 plan was offered unfurnished with no vacation rental history. The floor plan offers over 1900 square feet of fabulous open, and private, luxury living with great garden views. This unit is located within a 6-plex building that offers spacious 1-car garages. The front entry experience includes a private courtyard which leads you through a small foyer and into the main living area. This space is filled with views to the outdoor lanai and onto a manicured green space. The ground floor master bedroom includes an on-suite bath with a jetted tub and separate tiled shower, walk-in closet and 10' ceilings. Two guest suites are located upstairs with their own private bathroom. Surfaces and kitchen features include granite countertops, tiled floors, GE built-in appliances, bar counter and formal dining ...

October 2020 Market Update

Positive News For Sellers!! The Island of Hawaii real estate market continues to churn out sales in lessor numbers and volumes than 2019 but Median Sales Prices have not declined, Year over Year, for the first 9 months of 2020 despite the virus pandemic which is limiting travel to Hawaii. This is positive news for sellers! Sellers who choose to sell to the limited number of buyers in the market are not experiencing any price declines. It is a seller’s market in the resort areas for condominiums +/-$1m. If you do not read past this point in my blog post, look at the Year over Year stats for South Kohala. All classes of Real Estate median sales prices are positive. Check out the South Kohala Land sales stats, they are extremely positive. I have always said to my clients that South and North Kohala land is a bargain and it looks like it is finally due for a positive run. Typically this signals that buyers are not finding value in already constructed residential product and they buy land in order to build and create value for the...

Nohea at Mauna Lani Homes Feature Old World Stucco

Our Nohea at Mauna Lani homes features Texston's Ortex Color Coat over three cement base layers on most of our homes' exterior surfaces. This color coat resembles old world stucco with its mottled appearance. The Ortex final coat is a decorative, integrally colored finish for hard coat stucco systems. The Ortex Color Coat can create a rigid, smooth-trowelled finish or a gritty "old-world" look that emulates antique stone's texture. We like the smooth burnished surface that gives added character by including subtle pits and fissures. The material is formulated for strength and durability; Ortex contains a unique blend of dry polymer ad-mixtures and micro-fibers, contributing to superb adhesion, flexibility, workability, and durability. Most builders use an elastomeric finish commonly used that looks like thick paint with a rough aggregate. Dryvit and Sto branded materials are typical examples of final elastomeric coatings. These coatings are hard-wearing but eventually fade and applied like paint. Not the Ortex finish! We use t...

Mattterport Videos for the newest hi-tech marketing campaigns!!

Marketing of real estate has changed in many ways since I first started in Atlanta 34 years ago. I remember the first shoebox size cell phones that replaced the pagers. I remember the rate was $1.00 a minute and the rushed conversations after answering a pager notification. It beat finding a pay phone but it made for $6-$800 monthly cost as well. Drone videos and now Matterport virtual tours are adding to our ability to promote properties like we have never been able to in the past. Matterport technology enables a series of still photos, made with a proprietary camera, to take 360 degree images and blend them into a “tour”. They are now in Beta test mode to allow iPhones to capture the images instead of the special camera and also create the tours. I downloaded the app to my iPhone and created a tour of my own property. It turned out well but also illuminated how complex the software is and how much editing the photographer needed to do post image capture to create a great tour. Go to their website to check it out if interest...

September 2020 Real Estate Update

Positive News For Sellers!! The Island of Hawaii real estate market continues to churn out sales in lessor numbers than 2019 but Median Sales Prices have not declined, Year over Year, for the first 8 months of 2020 despite the virus pandemic which is limiting travel to Hawaii. This is positive news for sellers! Sellers who choose to sell to the limited number of buyers in the market are not experiencing any price declines. It is a seller’s market in the resort areas for condominiums +/-$1m. If you are reading this and want to discuss listing your property for sale, I look forward to hearing from you!! Summary Report: Island Wide The month of August, 2020 and first 8 months of 2020, year to date median prices are generally positive for home and condo values even though unit volume and sales volume are down compared to 2019. August 2020 Condominium median sales prices for the month of August 2020 compared to August 2019 were up +46.15% and +11.35% for Homes. Vacant land was down -10.83%. These median sales prices are positi...

In Escrow-Golf Villas at Mauna Lani O-4

I just put into escrow Golf Villas at Mauna Lani unit O-4. This is a townhome style, end unit with 2-story windows on multiple sides of the home that allow plenty of SW facing light to stream into both levels. This unit features an upstairs master suite with Lanai and BBQ area, all facing Hualalai and the Mauna Lani golf course. Other features include 2-guest suites with their own bathrooms. An upstairs loft space allows an alternative to the downstairs great room and accommodates a sleeper sofa for additional guests. This particular unit includes an additional, deeded, parking space plus a one-car garage. My buyer client likes the furniture package as it’s tasteful and complete for owner occupancy or short-term vacation rental. This one got away but contact me for additional Golf Villas at Mauna Lani listing possibilities. Click here to Search Golf Villas at Mauna Lani Properties

August 2020 Market Update

The Island of Hawaii real estate market continues to churn out sales and listings overall.  Call me for a more in-depth of analysis of your particular property. Summary Report: Island Wide The month of July, 2020 and first 7 months of 2020, year to date figures were generally positive for home and condo values. Condominium median sales prices for the month of July 2020 compared to July 2019 were down just -0.76% for Condos and -5.33% for Homes. For the first 7 months of 2020, Year over year, median sales prices, island wide, were down just -4.41%, for Condos, up +2.64% for Homes and down -21.88 % for Land. North Kona The month of July, 2020 sales volume was positive 21.71% but it was a single month “bright spot” as total sales volume and units declined. The first 7 months of 2020 produced -25.64% less unit sales in all categories and -29.79% less sales volume. As in the South Kohala district reduced inventory and plenty of buyers produced higher median prices for the month of July,2020 and the first 7 months of 2020. S...

Clark Realty-Locations sells to Coldwell Banker Island Properties

The real estate world on the Big Island continues to consolidate and my firm Clark Realty is in the middle of the shuffle as well as us agents associated with the firm. Locations, who bought the firm from the founding family of Putty Clark a year or so ago was re-sold to Coldwell Banker Island Properties we were informed today. The same firm purchased Coldwell Banker Maryl Realty several years ago, so I am assuming we will consolidate with their agents. Our firm is the largest by sales volume on the island with 4 offices. I would assume little will change other than our president Frank Goodale announced he was retiring-we will all miss him! Frank is a straight up guy with business ethics at the forefront of all decisions I’ve observed. I’m a “rules” guy myself amongst a sea of shifting ethics at times that can be challenging. All the best Frank-thank you for the guidance and support over the years!! This is part of Frank’s email today to us agents and staff: It is also my privilege and pleasure to announce that Locati...