Kona Kohala Blog

Pacific Business News yesterday reported exaggerated the median price declines for Hawaii Island.  They reported that Single Family Residence (SFR) median price had declined 22% while, in fact, our price island wide is down just -5.5%.  In North Kona, that number is +4.5%.  Our SFR median price has been on the rise for over a month now.  They also reported that condo prices had dropped 24% but in actuality, prices are down -13.8%.  Not good but not as bad as told by the press.

The best news, after having taken a real header at the end of last year, are condos in South Kohala.  Since the end of the year they've been on the rise as have their sales numbers.  North Kona SFR prices have been on the rise also and while they did drop last month, they're still at $410,000 which is well above where they have been since the mess a few years back.

North Kona condos remain low, currently a median price of $162,000, meaning many buying opportunities.  We've seen solid sales of condos especially in the under four hundred thousand dollare price point.

With the economy picking up and corporate earning continuing their positive ways we could be in a solid recovery.  It's a slow one but I've learned over the years that slow is better.  Things that move too fast, like happy dog's tails, tend to be dangerous.  A long slow recovery will be good and allow more people to get back on their feet before inflation hits.  Don't kid yourself, it's happening is subtle ways right now as reported by the CEO of Walmart where plans are already underway to accommodate higher prices this summer.  The fed is talking about raising interest rates because even Bernanke, usually slow to move on anything, sees it coming too.

Prepare yourself.  Plan on higher prices not just with food and gas as we're seeing now but with everything.  Clothing is expected to rise by 15% by summer so everything is getting more expensive.  Housing prices are still at historic lows but won't be for much longer.  If you're considering getting into real estate, there will be no better time that now, like today.

So if you're one of those people thinking about it wait no longer.  Contact me, get on my newsletter mailing list and let's see what's out there for you.  There is no cost or obligation on your part for using my services.  I am a buyer's agent and as of this Sunday, I'll be an exclusive buyer's agent meaning I don't carry listings.  I do NOT represent sellers, only buyers and since it normally doesn't cost buyers anything in a transaction, having your own representative, an experienced broker, makes lots of sense.  So email or call and let's get started before you're looking back and saying to yourself, "I should have acted sooner."  It's going to be a long time before we see this kind of recession in our country again.  Once we get out we'll be out for many years so you can say good bye to the prices you're seeing now.  Contact me, I'm working for you.  Email Robert@FerrariPacificRealty.com or call toll free 888-828-5662 or my cell, 808-896-0661.  It really is very easy.