Aloha Everyone:

 

I'm a little down today. It's one of those unglamorous type of days that we realtors have once in a while.   I'm sitting here at my open house in Kaiulani of Princeville and  I haven't had anyone come by all afternoon.  It's so gorgeous outside, the sun is shining, the clouds are all white and puffy and I want to be at the beach so bad.  But here I sit with my lonely little computer all by my little sad self and no one comes by to even look at my beautiful listing..  Boo hoo hoo.. If someone would just come by they could see how absolutely fabulous this home is, never lived in, perfectly located, a real gem of a property.  The views are simply amazing and it sits in the most prestigious project on the island:  Kaiulani of Princeville.  The pricing is $300K less than anything else out there and yet here we both are.. a gorgeous lonely condo needing a new owner and a sad lonely realtor needing a buyer.  I think this condo and I should write a sad country song together.  Something like.. "Stuck flat in Kai'u'lani,...wait'in on some Buyers - no one to keep us company, 'cept my pretty flyers"... (sniffle, sniffle)

 

While I'm at it, let me tell you about another listing I have that's a super deal.  It's an amazing Alii Kai condo I have listed that is a top floor corner end unit and is priced at least a $160K less than the next top floor corner unit on the market.   This unit has the best water views of any property in Princeville currently on the market and I'm not exaggerating.. look at the video below (little hubcap looking icon next to the listing)  and it's only priced at $660K, which includes huge rental bookings, furniture, appliances, the works.  It's remodeled and really lovely.  It is not a short sale but he needs to sell.  

 

The deals I have right now are just staggering ..so where is everyone?  I guess everyone is at the beach... everyone except me, that is.  Grrr!  

 

Well if you haven't seen them yet  here they are:  The two absolutely best deals of gorgeous view property  in Princeville.. (yes, this is a shameless property plug - but I'm just trying to show you what great deals are out there are so you can buy them, enjoy them and make money on them when the market goes back up - so don't think of it as a "plug", think of it as

an .."opportunity":

 

 

Well, on a sunnier, more happy note if the statistics are any indication these both should sell VERY SOON because our monthly sales numbers are looking better and better and better!  Yippeee!!  Take a look:

 

Total Sales Volume for January 2010 was down on the island only 8% from the year prior.  And althought we ended 2009 27% below 2008 numbers, overall it looks like we are climbing ourselves out of this hole a little more each month.  Condo volume and vacant land volumes showed real strength in January.  North shore condo volume looked very healthy with 115% increase over Jan 09 volume numbers.  North shore Homes sales volume was wacky and unusable probably do to a McMansion selling January 09 which made the home sales this year look artificially low.  Residential volume in all areas (Waimea, Koloa, Lihue and Kawaihau) were all up over January 2009 numbers.

 

Number of Sales we showed a tremendous increase over January 2009: 54 total sales vs 20 total sales... Whoopeee!  That's a huge 170% increase!  31 Homes sold in January 2010 compared to only 10 homes January 2009.  9 Vacant lots sold vs 3 the year prior, and 14 condos sold vs 7 the year prior.  On the north shore we sold 6 homes vs 2 in Jan. 09.  Vacant land still very slow on north shore with only 1 lot sold, but up from zero sold last year.  3 condos sold vs 2 the year prior.  All other areas showed stong growth in units sold (Koloa 7 more houses sold than last year, Lihue 7 more houses sold, Kawaihau 3 more houses and North shore 4 more houses than last year).  Vacant Land although improving slightly is still very slow sales.  Now would be the time to buy some vacant land if you've been considering it.  You would be the only guy or gal in the race so you would be sure to win!  Condos although improving still very slow sales..  It's the residential market  that is off the starting line pulling this recovery to the finish.   Buy a cheap house now while you still can.

 

Looking at Median Sales prices for homes we had another big decrease in January from $520K in December to $375K in January.  Errr.. that looks like condo pricing not home pricing.  Hmmm?  Wow.  Maybe that's why so many homes are selling: the prices are so low (Like Tony Soprano says)  it's a deal you can't refuse.  Our median price is almost $100K less than the median price a year prior of $466K.  Vacant Land is very low at $250K but higher than last year when it was $200K.  Cheap Kauai land anyone?  The median price of a condo is also very low at $204K down from $254K the year prior and a little lower than the month prior at $313K.   The median price for a north shore home was $627,500 on 6 homes sold.  Currently we are 20% below last year's median home price, and also 20% below last year's condo prices.  Our median prices have been in the $400K's and $500's since May of last year until we slipped down into the $300's this month.  With sales increasing and a new low in pricing.... could we call January 2010 the "bottom"...  Only if we start to see steadily increasing prices will we know for sure.

 

Okay, it looks like a car just pulled up... Could it be??  Yes.. Yes!  Someone is coming to look at my open house.  I'm so happy, I'm delirious with joy, everything is again perfect in my world.... Okay, gotta dash now!  It could be a SALE!  Whoopee!

 

Warmest Aloha from your Island Realtor, AnnMarie Hamilton, BIC, Princeville Realty in the insanely gorgeous St. Regis Hotel in Princeville - 808 652 3511