Kona Kohala Blog

This is one good deal, over 1,700 square feet of living space, 3 bedrooms and 3 baths with spectacular views of the blue Pacific.  It even has it's own garage and is near the pool.

This will not last long, it's pristine and located well above the noise of Alii Drive.  The complex is low density so you're not packed in among a dozen other buildings.  There's lots of lanai space to enjoy the perfect weather of the Kona coast.

The project is about a mile or so south of Kailua Kona town and at about the 200' elevation level.  You can see it on line by typing in MLS # 236816 in the Search Hawaii MLS section.

I'll have photos and videos loaded soon.  Call for more information or to set up a showing.  The list price is $415,000 for this fee simple beauty.  Don't wait.

I've been researching in the Villages at Mauna Lani and what a great condo complex that is.  I have one closing next week and am working with another client right now who's interested in the Villages and why not?

There are 10 units for sale right now ranging in price from $770K to $1.795M.  These are large, up to 2,752 square feet, quality units with all the interior finishes anyone could hope for in such a peerless complex of condos.

If you want the best for the rest of your life, the Villages are the place to be.  They're located in the Mauna Lani complex on the west Hawaii Gold Coast in South Kohala.  You never have to leave the property if you don't want to.  Everything is available from white, white sand beaches to world class tennis and world class golf, to shopping and dining.

The two Francis H. I'i Brown golf courses, North and South courses, were once home to the senior skins games.  You can tee off where Arnold Palmer, Chi Chi Rodriguez, Gary Player, Lee Trevino and the rest stood playing for $25,000 a hole. 

You can swim in the crystal clear warm waters of the deep blue Pacific Ocean or smash tennis balls until all you can think of is a cool drink and a warm meal, all available to you at any one of numerous great bars and restaurants, all nearby.

Go to the MLS page and look at the Villages at Mauna Lani and prepare to be awed.  Then call me or email Robert@FerrariPacifiRealty.com for more information about this incredible complex.  aloha

Our market, like our economy, has had some false starts then abrupt stops then little burps along the way but no real direction for some time.  Right now it seems that we're experiencing what may be our normal market for the time being.

After the "crash" of '06 we were on a pretty steady down hill spiral in market activity and median prices.  We watched helplessly as prices in North Kona and South Kohala as well as most of the rest of Hawaii island, dropped value at about 20% per year until last July.  At that time, something magic happened.  Buyer's finally made a move back into real estate in Hawaii.

I believe it was a combination of things; prices had finally reached a point where they were again attractive, people in general hit "frugality fatigue" and those with money felt the need to invest it, and foreclosures were in the news and on the market which psychologically means, good deals.

Once those things took place we saw sales activity suddenly begin to pick up.  Mostly it was the lower end of the price range that saw buyers coming back in to grab what they felt were under priced properties.  Both Single Family Residences (SFR's) and condos were suddenly selling with market price being set by short sales and foreclosures.

Prices continued to drop but the rate at which they were dropping was lessening.  We're still seeing some large annual declines in South Kohala condos but not much in their SFR's.  In North Kona the decline slowed to about 10% to 12% per year decline in median price.

Activity levels remain high and will as long as there are relatively speaking, low priced properties out there.  For more details, email me and I'll put you on the Aloha Friday newsletter list.  Here I go into more detail on what's happening not only in the real estate market but all things pertaining to real estate and other tid bits about west Hawaii.  You can sign up by emailing me at Robert@FerrariPacificRealty.com.  You will not receive any spam and your address is not shared or sold.  You can cancel any time you wish.

It appears that prices may be stabilizing on Hawaii's west coast, at least in North Kona and South Kohala.  Sales activity is continuing to climb but median prices are slowing their decline.

We've been seeing, on average, 20% per year median price declines but for the last two months that percentage has slowed.  We're now seeing closer to 10% and it seems to be moving even closer to zero as many of the really good deals have been purchased by eager bargain shoppers.

The number of sales is still rising rapidly which only reinforces a seller's belief that the market is turning around and they can raise prices.  The reality check comes when the next foreclosure pops up and it's 10% under the price set by the person who doesn't have to sell but is testing the waters.

The real estate market is not yet in recover.  Nationally, sales are down by 30% in May and we're not that far off that market.  One big difference for us right now is that many people who've held onto their money over the past 5 years are now popping in to pick off the under priced homes and condos on the market.

Don't look for any big or sustainable change until the employment figures head for positive territory.