Sept 30th in WAIMEA:

• 102 homes on the market
• 13 are less than or equal to $400,000
• The least expensive = $248,5000
• The most expensive = $5,390,000
• The highest days on market (DOM)= 952 (This Seller must be waiting for the re-opening of the Mauna Kea Beach Hotel)
• Sales in the past 90 days = 19
• Sales in the past 30 days = 6

IN WAIKOLOA:

• 89 homes on the market
• 17 are less than or equal to $400,000 (4 more than last mo)
• The least expensive = $289,800 (an REO)
• The most expensive = $875,000
• The highest days on market (DOM)= 418
• Sales in the past 90 days = 23 (30% were developer sales)
• Sales in the past 30 days = 6

IN KOHALA:

** NOTE** Kohala data pertains to the entire district of North Kohala, including the coast and resort properties 
• 87 homes on the market
• 11 are less than or equal to $400,000
• The least expensive = $259,000
• The most expensive = $15,000,000
• The highest days on market (DOM)= 645
• Sales in the past 90 days = 4
• Sales in the past 30 days = 1

IN SUMMARY:  As you can see, we’re dying here. Thirteen residential sales in West Hawaii the past month is not paying anybody’s bills. It’s a good thing we have beautiful weather and great beaches. All I can say is there are worse places to ride this out!

Aloha, “Mikie”

Mikie Likes It LLC
Realtor Referrals & Mortgage Freedom

Waikoloa, Hawaii
Phone: (808) 896-1943
eMail: Mike@MikeSells.com
website: MikeSells.com

Here’s what it looks like at the moment.

TODAY IN WAIMEA:

• 105 homes on the market
• 15 are less than or equal to $400,000
• The least expensive = $269,000
• The most expensive = $5,390,000
• The highest days on market (DOM)= 920 (I can just hear them telling the Realtor, “We don’t have to sell”)
• Sales in the past 90 days = 19
• Sales in the past 30 days = 4

IN WAIKOLOA:

• 94 homes on the market
• 13 are less than or equal to $400,000
• The least expensive = $315,000
• The most expensive = $875,000
• The highest days on market (DOM)= 542
• Sales in the past 90 days = 21 (48% were developer sales)
• Sales in the past 30 days = 12

IN KOHALA:

** NOTE** Kohala data pertains to the entire district of North Kohala, including the coast and resort properties
• 87 homes on the market
• 10 are less than or equal to $400,000
• The least expensive = $259,000
• The most expensive = $15,000,000
• The highest days on market (DOM)= 613
• Sales in the past 90 days = 4
• Sales in the past 30 days = 0

IN SUMMARY:  Recent sales (90 day and 30 day comparisons) do indicate an up-tick in activity in Waikoloa with somewhat less activity in Waimea and still very slow movement in the Kohala market.

 That’s if for now. Be sure to tune in about this time next month for the most recent listing and sales recap.

Aloha, “Mikie”

Mikie Likes It LLC
Realtor Referrals & Mortgage Freedom

Waikoloa, Hawaii
Phone: (808) 896-1943
eMail: Mike@MikeSells.com
website: MikeSells.com

TODAY IN WAIMEA:

• 114 homes on the market (inventory still climbing)
• 16 are less than or equal to $400,000 (that’s 14% of the total market)
• The least expensive = $275,000
• The most expensive = $5,390,000
• The highest days on market (DOM)= 888
• Number of homes sold in July = 7 (over 16 months worth of supply)

IN WAIKOLOA VILLAGE:

• 97 homes on the market (down from 109 last month)
• 14 are under $400,000 (14.4% of the inventory)
• The least expensive = $325,000
• The most expensive = $799,000
• The highest days on market (DOM)= 510 (a home in Kilohana Kai)
• Number of homes sold in July = 4 (Only 2 years supply)

IN KOHALA:** NOTE** Kohala data includes the entire district of North Kohala, including the coast and residential resort properties.
• 80 homes on the market (holding fairly steady)
• 3 are less than $400,000 (less than 4% of the inventory, making Kohala the least affordable area of West Hawaii)
• The least expensive = $350,000
• The most expensive = $15,000,000
• The highest days on market (DOM)= 581 (in The Heathers at Kohala Ranch
• Number of homes sold in July = 3 (a modest 26 months of inventory!)

IN SUMMARY: Inventory is holding pretty steady with only a very gradual decline in prices, though you may note I am quoting number of homes less than $400,000 in each market now (as opposed to homes under $500K which I did when I started reporting over a year ago, since that benchmark has moved down. Bottom line though, with an average of OVER 22 MONTHS OF INVENTORY AVAILABLE, there’s got to be some more aggressive pricing or we’ll be at this a long, long time!

Aloha, “Mikie”

Mikie Likes It LLC
Realtor Referrals & Mortgage Freedom

Waikoloa, Hawaii
Phone: (808) 896-1943
eMail: Mike@MikeSells.com
website: MikeSells.com

Okay back to business here, I’m playing catch up after being on the East Coast for a family reunion and some V-time. The changes you see reflected here are actually over the last 60 days since I missed the May figures. So let’s see what if anything has really happened in Waimea, Waikoloa Village and Kohala during that time.

TODAY IN WAIMEA:

• 107 homes on the market (not much change there)
• 24 are less than or equal to $500,000 (and 11 of those are under $400,000!)
• The least expensive = $275,000
• The most expensive = $5,390,000
• The highest days on market (DOM)= 857

IN WAIKOLOA VILLAGE:

• 109 homes on the market (a big jump over 60 days ago when there were only 80 homes for sale)
• 61 are under $500,000 (23 more than just sixty days ago, and 16 of those are under $400,000!)
• The least expensive = $325,000
• The most expensive = $799,000
• The highest days on market (DOM)= 479

IN KOHALA:** NOTE** Kohala data includes the entire district of North Kohala, including the coast and residential resort properties
• 79 homes on the market (pretty much status quo)
• 15 are less than $500,000, one less than 60 days ago (only four are less than $400,000)
• The least expensive = $319,000
• The most expensive = $15,000,000
• The highest days on market (DOM)= 550

IN SUMMARY:
Prices still going South and inventory numbers are holding fairly steady with the exception of Waikoloa Village which had a fairly significant increase in listings. Those of you combing the listings diligently will find some good values and you should be prepared to move on them when you do! HINT: when you see repeated price decreases every couple weeks on a property (even little ones) something is happening and the seller is signalling they are ready to get out.

That’s it for now. Have fun and good luck in your real estate endeavors!

Aloha, “Mikie”

Mikie Likes It LLC
Realtor Referrals & Mortgage Freedom

Waikoloa, Hawaii
Phone: (808) 896-1943
eMail: Mike@MikeSells.com
website: MikeSells.com

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I mean these LEI-DAY EVENTS HAVE BEEN KNOWN TO CAUSE TRAFFIC PROBLEMS AND PARKING JAM-UPS! Parents and grandparents take vacation or sick days to go watch the keiki, so to not see any was most notable. My guess is they’ve all postponed the event for tomorrow since it’s Friday and they can just adjourn classes after the Lei Day Programs instead of trying to herd the kids back into seriousness for the remainder of the day.

And upon realizing it was Lei Day, I also remembered it was time for my monthly listing update, so here are the stats for Waimea, Waikoloa Village and Kohala for the month of April.

TODAY IN WAIMEA:

• 103 homes on the market (about the same as last month!)
• 26 are less than or equal to $500,000 (and we’re seeing more and more under $400,000!)
• The least expensive = $299,000 ($11,000 less than just a month ago)
• The most expensive = $5,390,000
• The highest days on market (DOM)= 797

IN WAIKOLOA VILLAGE:

• 80 homes on the market (18 less than last month)
• 38 are less than or equal to $500,000 (6 more than last month)
• The least expensive = $379,000
• The most expensive = $1,335,000 (this is a new HIGH for the Village. It is a knock-out home with gorgeous views, but I’m glad it ain’t me! To give this home justice, I will cover it later in a blog post all its own.)
• The highest days on market (DOM)= 389

IN KOHALA:
** NOTE** Kohala data includes the entire district of North Kohala, including the coast and resort properties
• 78 homes on the market (2 more than last month)
• 16 are less than or equal to $500,000 which is 7 more than 60 days ago
• The least expensive = $319,000
• The most expensive = $15,000,000
• The highest days on market (DOM)= 929 (hello, anybody home?)

IN SUMMARY: Inventories are holding fairly steady; but as some sellers get discouraged and drop out new listings come on, but at least it’s stable. What I am noticing however, are new lower price benchmarks. Originally in one category, I started out tracking homes less than $500,000 and there weren’t that many. Now however, we are seeing more and more homes less than $400,000. All I can say is patience will be rewarded!

Aloha, Mike
RE/MAX Pacific

My “Sell” Phone: 808-896-1943
MikeSells.com
WestHawaiiBlog.com
Mike@MikeSells.com

On a more positive note, I noticed 31 DNs, that’s right, THIRTY-ONE PRICE DROPS IN ONE DAY ALONE LAST WEEK in the market areas of Waimea, Waikoloa and Kohala and some of them were fairly significant price reductions like as much as $40,000 on some I saw. But anyway, here’s a snapshot of the market right now.

TODAY IN WAIMEA:

• 102 homes on the market (about the same as last month!)
• 24 are less than or equal to $500,000
• The least expensive = $310,000
• The most expensive = $5,390,000
• The highest days on market (DOM)= 766

IN WAIKOLOA:

• 98 homes on the market (makes it 5 more than last month)
• 32 are less than or equal to $500,000 (4 more than last month so 8 more than in January)
• The least expensive = $379,000
• The most expensive = $875,000
• The highest days on market (DOM)= 399

IN KOHALA:
** NOTE** Kohala data pertains to the entire district of North Kohala, including the coast and resort properties
• 76 homes on the market (a 10% increase over last month)
• 12 are less than or equal to $500,000 which is 3 more than 30 days ago
• The least expensive = $319,000
• The most expensive = $15,000,000
• The highest days on market (DOM)= 898

IN SUMMARY: If you are a buyer who has been sitting on the fence (aren’t you tired or getting splinters or something already??) there’s lots of inventory and some major price reductions. And the developer product (new homes) sometimes offers even more opportunity because they have in-house financing specials too. So why not call your favorite Realtor and see if you’re ready to say “DEAL” or “NO DEAL”??

Aloha, Mike
RE/MAX Pacific

On Island: 885-5557
Toll Free: 800-500-4895
My “Sell” Phone: 808-896-1943
MikeSells.com
WestHawaiiBlog.com
Mike@MikeSells.com

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THIS IS CHICAGO IN FEBRUARY, AND THIS IS HAPUNA BEACH IN PEPELUALI!

Okay already, I don’t want to rub it in too much, so here are the monthly listing statistics for the 3 major market areas we service. Too keep it simple we only include residential stats here, but you will find that condos and vacant land follow a similar trend.

TODAY IN WAIMEA:

• 103 homes on the market (8 less than last month!)
• 27 are less than or equal to $500,000
• The least expensive = $297,500 (Whoa!)
• The most expensive = $5,390,000
• The highest days on market (DOM)= 735

IN WAIKOLOA:

• 99 homes on the market (makes it 5 more than last month)

• 28 are less than or equal to $500,000 (that’s 4 more than last month)
• The least expensive = $385,000
• The most expensive = $865,000
• The highest days on market (DOM)= 368

IN KOHALA:
** NOTE** Kohala data pertains to the entire district of North Kohala, including the coast and resort properties
• 69 homes on the market
• 9 are less than or equal to $500,000
• The least expensive = $329,000
• The most expensive = $15,000,000
• The highest days on market (DOM)= 867

IN SUMMARY: I used to love the new listings. It was something different to look at and it was fun to see them as soon as they came on so you could call all your “READY (when the price is right)” buyers, but lately the new listings have lost their alure. The old, I mean really old, ones are better because the longer they’ve been on the market, the more realistic the price.

Case in point, I called on a FISBO yesterday (fisbo = for sale by owner) and learned the house was going to be listed today. Coincidentally just this morning clients who’d recognized the floor plan as the same as their rental (which they love) wanted to see it right away. But like most new sellers, they have come out of the shoot priced too high. We’ll go look at it, but the seller probably won’t be too enthusiastic about their offer -it’s too new on the market and they still carry that “false hope” about the value. But with 98 other homes on the market, it’s not hard to figure where it should be priced. Oh well, it’s a process and I’ll have to be patient I guess.

We’ll talk numbers again next month!

Aloha, Mike
RE/MAX Pacific

On Island: 885-5557
Toll Free: 800-500-4895
My “Sell” Phone: 808-896-1943
MikeSells.com
WestHawaiiBlog.com
Mike@MikeSells.com

TODAY IN WAIMEA:

• 111 homes on the market (14 more than last month! HINT: this is good for buyers ;o)
• 37 are less than or equal to $500,000
• The least expensive = $318,000
• The most expensive = $5,590,000
• The highest days on market (DOM)= 698

IN WAIKOLOA:

• 94 homes on the market
• 20 are less than or equal to $500,000
• The least expensive = $409,900
• The most expensive = $894,000
• The highest days on market (DOM)= 822

IN KOHALA:

** NOTE** Kohala data pertains to the entire district of North Kohala, including the coast and resort properties
• 72 homes on the market
• 12 are less than or equal to $500,000
• The least expensive = $329,000
• The most expensive = $15,000,000
• The highest days on market (DOM)= 830

IN SUMMARY: prices are still inching down and inventories in all areas are climbing. Good pickin’ for Buyers and tough on Sellers. BUT SOME SELLERS REALLY NEED TO GET A CLUE! I mean, if your home is taking the prize for the highest days on market (we have sellers approaching or EXCEEDING 700 DAYS ON THE MARKET in the above data) it’s time to give it a rest. Get a grip already!!

Aloha, Mike
RE/MAX Pacific

On Island: 885-5557
Toll Free: 800-500-4895
My “Sell” Phone: 808-896-1943
MikeSells.com
WestHawaiiBlog.com
Mike@MikeSells.com

One nice thing about getting older (there are a few!) is you get smarter along the way. About ten years ago or maybe more, WE STOPPED DOING THE COMMERCIAL CHRISTMAS THING. Let’s face it, being in Hawaii unless all your family and friends are right here on the same Island, you’re shipping Christmas gifts here, there and everywhere at great effort and expense. We found that we’d spend almost as much to ship packages as the cost of the gifts themselves. Sure, you can do the catalog routine, but I resent even getting those cataloges in my PO Box to have them end up in the landfill! Anyway, it finally came to us that most people feel stressed and obligated with the whole shopping thing so we stopped doing it. Now I admit, we don’t have kids, so that made it easier but I don’t think the “lesser is better” proverb would do kids permanent harm, at least not past the pre-teen years.

Almost without exception, everyone we know congratulates and commends us for our honesty and bravery at WITHDRAWING FROM THE COMMERCIAL SIPHON THAT CHRISTMAS HAS BECOME. It doesn’t mean you have to be a Scrooge either. We had a Christmas Open House at our place the other night with lots of friends, food and fun. We’ll go to parties and take presents for the gift exchange and we give to the local Food Basket (and you can too-just back your cursor up and click on the red letters), and other worthy charities but we just don’t get caught up with shopping anymore. It feels so good along about November 1st to start bragging that we’re ready for Christmas!

But oh, how I digress! The point of this blog today is to give you the monthly listing statistics so you can follow the market, so here goes. And if you really want to buy that someone special a house -you can!

TODAY IN WAIMEA:

• 97 homes on the market
• 35 are less than or equal to $500,000
• The least expensive = $318,000
• The most expensive = $5,590,000
• The highest days on market (DOM)= 668

IN WAIKOLOA:

• 94 homes on the market
• 21 are less than or equal to $500,000
• The least expensive = $415,000
• The most expensive = $894,000
• The highest days on market (DOM)= 792

IN KOHALA:

** NOTE** Kohala data pertains to the entire district of North Kohala, including the coast and resort properties
• 66 homes on the market
• 10 are less than or equal to $500,000
• The least expensive = $334,000
• The most expensive = $15,000,000
• The highest days on market (DOM)= 800

For more information on any of these areas or to fill in the blanks between the least expensive and the most expensive, just call or email me. And have a wonderful Christmas!

Aloha, Mike
RE/MAX Pacific

On Island: 885-5557
Toll Free: 800-500-4895
My “Sell” Phone: 808-896-1943
MikeSells.com
WestHawaiiBlog.com
Mike@MikeSells.com

TODAY IN WAIMEA:

• 99 homes on the market
• 36 are less than or equal to $500,000
• The least expensive = $328,000
• The most expensive = $7,000,000
• The highest days on market (DOM)= 640

IN WAIKOLOA:

• 87 homes on the market (10 fewer than last month. There were 101 homes listed on Aug 22, 2007 so the inventory is slowly being absorbed)
• 24 are less than or equal to $500,000
• The least expensive = $379,900
• The most expensive = $895,000
• The highest days on market (DOM)= 615

IN KOHALA:

** NOTE** Kohala data pertains to the entire district of North Kohala, including the coast and resort properties
• 60 homes on the market
• 8 are less than or equal to $500,000
• The least expensive = $334,000
• The most expensive = $5,099,000
• The highest days on market (DOM)= 772

For more information on any of these areas or to fill in the blanks between the least expensive and the most expensive, just call or email me!

Aloha, Mike
RE/MAX Pacific

On Island: 885-5557
Toll Free: 800-500-4895
My “Sell” Phone: 808-896-1943
MikeSells.com
WestHawaiiBlog.com
Mike@MikeSells.com