Despite the continuing decline in sales activity, the market on the Big Island is still moving with some areas experiencing more sales than others. This is a good time to buy as there are many motivated Sellers, some of whom are looking at foreclosure. Short sales seem to be more common than foreclosed properties at this point but we are seeing more and more bank owned REOs just in the last few months.
There is still quite a lot of inventory for Buyers to choose from, especially in the resort condominium market and we have been seeing an increase in single-family home sales under $500,000 in both East and West Hawaii.
With interest rates still at all-time lows, it is a very favorable situation for those ready, willing and able to purchase a property now.
If you are looking for land, prices are down and as a result, there are some great bargains for acreage in Hamakua. However, down payments on land as well as certain condominium properties are higher, i.e. 20-35%, which is restricting many possible buyers from getting into the market at this time.
Wehilani @ Waikoloa has sold out with the last remaining 3 bedroom/2.5 bath condo under contract (in escrow). The final list price was at $229,000 when it was purchased by a local buyer.
First-time home buyers are still being offered the tax credit by the government of up to $8,000 which we, as realtors, have been lobbying to have extended beyond November 30, 2009. Hopefully, this will get extended so many more buyers can get in on the great buys at present.
If you wish specific data regarding real estate activity in your area, give me a call or email me and I will be happy to give you further information. My cell phone is: 808-936-7719 and my email is: jm@AlohaJuanita.com.
If you are calling from the mainland or another Island, my toll-free number is: 1-888-412-2233.
Aloha, juanita
ZIP Code: 96740 Approximate Location Boundaries: from Kealakekua to Kohala
Location Characteristics: Up-country coffee farms and ranches to oceanfront, tropical subdivsions and resort properties.
About Juanita Montgomery:
Having lived in Hawaii for 35 years, I know the Big Island intimately. Even if you never buy or sell a property here, you can always call on me to answer a question or give you the information you need or wish to know about the Island. Service with aloha and attention to any and all details of a clients needs and wants is my goal. If I can't help you, I will find someone that will. Aloha,
juanita
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
