Kona Kohala Blog

This could all change rapidly as the economy fluctuates like crazy as we see knee jerk reaction after knee jerk reaction taking place around the world right now but, this is what the past 7 months looks like.

Over all it's been pretty flat with condos in Kona seeking new lows, what a time to buy an investment property.  Homes in Waikoloa, mainly in the village, are looking attractive also.

I've tried to predict where the median price was going over the past few years and with a blanket prediction of down, I've been accurate and safe.  I even suggested that we would see a flattening out of prices through the summer and it appears that was accurate as well except, I thought we'd see some increases as the summer wore on.  Waikoloa is proving me right but the others seem to still be headed down.  With all that's going on in the world and the way people are reacting to the soap opera called Washington, I have no further predictions at this time for any kind of recovery.  I suspect things in general will be on hold until we see something stabile appear on the horizon and quite frankly, with all the infighting among our elected officials, all I see is haze on the horizon.

Interest rates can't get much better.  Late last week, just when we all thought we'd hit the bottom on Wednesday, a new bottom was hit on Thursday.  We now have 30 year fixed rate mortgages under 4% if you're willing to pay a couple of points for the loan.  Don't hold me to it since that number is bouncing around between 4% and 3.825% but where ever it ends up today, you can bet it's going to be close to a historic low.  The only problem remaining here is people going back to work  Until that happens I don't foresee anything but haze on the horizon.