Kona Kohala Blog

What?  Okay, may be it's not a word but it does describe a situation occurring in prices in various subdivisions.  We're seeing prices of similar properties in varied locations coming closer together. 

It used to be that an area like Alii Heights had a corner on the $600K to $700K range but now, prices in Alii Heights and Alii Heights Mauka are inching upwards into the low to mid $700's.  Hualalai Colony, a beautiful stately subdivision with a gated entrance is slowly creeping downward from the $1M range to the low to mid $700K range.  While the location is different the homes are similar; pricing is more a reflection of the design and style of the house now rather than location and amenities.

This may be because of the stricter rules placed on appraisers by the feds and the banks.  Now, appraisals may focus more on structure and less on the surroundings.