- This is going
to be an uncommonly brief update, mainly because there is little
to catch up on. Those real estate values that have been of such
interest have stabilized in most cases. There are some real bargains
in the Puna subdivisions now, what with all those builders having
their blinders on when the market started to slow. They just
kept on building like there was no tomorrow, and now there are
lots of very nice, brand-new homes in places like Paradise Park,
Hawaiian Shores, etc., in the range of $260 - 290K. These same
houses were going for $50 - 100K more at the peak. The prices
are low now because there are more houses than buyers, but that
won't last very long. People are still moving here in droves,
no matter what the Realtors tell you, and when all this excess
inventory of new homes is gone, the prices will start up again.
- The availabiltiy
of these new homes at give-away prices has also had an effect
on the values of older homes in those areas. It's a buyer's market
- for now.
- The surprising
thing to us is that Kona prices are down and are now more on
an equal basis with Hilo and any of the more desirable areas
of the Hilo side.
- Our experience
in Hilo is that whenever a nice home is listed at a fair price,
it sells immediately. The last few we've been interested in received
multiple offers, just like in the infamous peak times.
- So much for
real estate. Let's get back to Living Aloha!
- My last few
updates have gone into this in detail and it is ever more important
as more and more people relocate to the Islands. If you would
like to read my article on Living Aloha that was recently published
in the Hawaii Island Journal, click HERE!
- And in the
meanwhile, please, please,
- Mahalo for
- Skip Thomsen