Hawaii County, HI Real Estate News

By Kona Home Team (luva llc) Lance Owens (RS), Getting transactions done, when nobody else can!
(Kona Home Team (luva llc))
Aloha, Lance Owens (RS) with LUVA Real Estate, along with our partners at KCM, bringing you the latest in real estate news and events.For many of us, visiting the same vacation spot every year has become a summer tradition that is fun, relaxing, and restful. If this sounds like you, now is the time to consider your plans and determine whether buying a vacation home this year makes more sense than renting one again. According to Forbes, "if the idea of vacationing at the same place every year makes you feel instantly relaxed, buying a vacation home might be a wise move."To help you decide if making a move like this is right for you, let's explore why you may want to consider purchasing a vacation home today.Benefits of Owning Your Vacation Home: No worries about finding a place to stay: ...
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By Rob Dalton, Big Island Vacation Rental Guru
(Waikoloa Vacation Rentals)
Recently Google did an update to their ads.  This has caused two primary things in searches in our market.  First, the number of ads that are showing up for any given search term has increased drastically causing the organic searches to drop almost halfway down the first page.Second, while the number of ads have increased there are also several that are irrelevant to the search term.  The method of placement seems to do more so on budget than relevance.  Has anyone else seen something similar in their market area?
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By Kona Home Team (luva llc) Lance Owens (RS), Getting transactions done, when nobody else can!
(Kona Home Team (luva llc))
Everywhere you look, people are talking about a potential recession. And if you’re planning to buy or sell a house, this may leave you wondering if your plans are still a wise move. To help ease your mind, experts are saying that if we do officially enter a recession, it’ll be mild and short. As the Federal Reserve explained in their March meeting: “. . . the staff’s projection at the time of the March meeting included a mild recession starting later this year, with a recovery over the subsequent two years.” While a recession may be on the horizon, it won’t be one for the housing market record books like the crash in 2008. What we have to remember is that a recession doesn’t always lead to a housing crisis.To prove it, let’s look at the historical data of what happened in real estate du...
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By Kona Home Team (luva llc) Lance Owens (RS), Getting transactions done, when nobody else can!
(Kona Home Team (luva llc))
Aloha and welcome to the latest in real estate news and trends. I'm Lance Owens (RS) of LUVA Real Estate, and I'm excited to share insights from our partners at KCM. We're dedicated to keeping you informed about the ever-changing real estate market so that you can make informed decisions. Let's dive into the latest updates. (the chart above is local numbers)The current state of the housing market is uncertain and constantly evolving. As we head into the spring months, you may have questions about what to expect in terms of inventory, pricing, and mortgage rates. Here’s what industry experts have to say:According to Selma Hepp, Chief Economist at CoreLogic, competition among buyers is increasing, and housing supply typically grows during the spring. This is also a time when many people a...
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By Kona Home Team (luva llc) Lance Owens (RS), Getting transactions done, when nobody else can!
(Kona Home Team (luva llc))
Some Highlights Since inflation is increasing the cost of goods and services, it may make sense to look for an energy-efficient home. Energy prices have increased over the last year, so look for energy-efficient features in your home search. If you’re looking to buy a home this year, let’s connect so you have a partner to help you consider which features are most important to you.
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By Kona Home Team (luva llc) Lance Owens (RS), Getting transactions done, when nobody else can!
(Kona Home Team (luva llc))
Aloha, Lance Owens (RS) with LUVA Real Estate and our partners at KCM, there have been a lot of shifts in the housing market recently. Mortgage rates rose dramatically last year, impacting many people’s ability to buy a home. And after several years of rapid price appreciation, home prices finally peaked last summer (not in Kona median price last year $985k, today $1.277m ) . These changes led to a rise in headlines saying prices would end up crashing.Even though we’re no longer seeing the buyer frenzy that drove home values up during the pandemic, prices have been relatively flat at the national level. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), doesn’t expect that to change: “[H]ome prices will be steady in most parts of the country with a minor change...
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By Kona Home Team (luva llc) Lance Owens (RS), Getting transactions done, when nobody else can!
(Kona Home Team (luva llc))
Casa De Emdeko has that charming, old Hawaii feel - oceanfront complex located in Kailua Kona, on the Big Island of Hawaii. Welcome to another complex in our series of Condos' on the Big Island of Hawaii that make for a great second home/vacation rental. This complex features two beautiful swimming pools, one of which is a saltwater pool situated right next to the ocean, offering guests a truly unique swimming experience. Ocean Front pool Casa De Emdeko One of the best things about Casa De Emdeko is that they allow short-term vacation rentals, making it the perfect place for those looking for a comfortable and convenient home away from home on their Hawaiian vacation, and for guests when you are renting it out. The complex features a couple of different units, one-bedroom, and two-bedro...
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By Kona Home Team (luva llc) Lance Owens (RS), Getting transactions done, when nobody else can!
(Kona Home Team (luva llc))
 If you’ve been considering selling your home, you may be wondering which home improvements you should tackle to increase your home’s value before it goes on the market. While there are many home renovations that can add appeal to your home, it’s important to know which projects will increase your property value and which won’t.That’s why Redfin has reached out to real estate professionals like me to help you determine which home improvement projects are worth your investment. Check out my insight on 12 Home Renovations That Don’t Add Value (and What to Do Instead).
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By Kona Home Team (luva llc) Lance Owens (RS), Getting transactions done, when nobody else can!
(Kona Home Team (luva llc))
Hey, forget about picturing yourself lounging on a Hawaiian beach - we're talking "Vacation NODE" here (not MODE). You know, that thing that nobody seems to be able to explain. Well, it's the latest proposal from the Hawaii County Council Members and honestly, it's got me shaking in my slippahs (flip-flops) .I mean, have you ever been to a parade and seen the clowns throwing candy to the kids? That's basically what's happening as this draft gets added to the new TAR bill (which, by the way, is on its 4th draft and hasn't been released yet). They're saying not to worry about losing your "hosted rental" status - just get it designated as a "vacation node." But let's be real, rezoning your property can take years and it's not a common occurrence. Plus, you might be giving up current proper...
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By Kona Home Team (luva llc) Lance Owens (RS), Getting transactions done, when nobody else can!
(Kona Home Team (luva llc))
Selective enforcement refers to the practice of enforcing rules or laws selectively, rather than consistently applying them to everyone in a fair and equal manner. In the context of the County of Hawaii enforcing permitting rules to certain homeowners (TAR or STVR) and not others, it means that the county is choosing to enforce the rules only against certain homeowners while ignoring others who are similarly situated.This selective enforcement can be problematic because it can lead to unfair treatment of individuals or groups, depending on who is being targeted and who is being ignored. It can also create a sense of distrust and resentment among those who are being targeted.In this case, if the County of Hawaii is enforcing permitting, parking, and many more rules before allowing homeow...
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By Kona Home Team (luva llc) Lance Owens (RS), Getting transactions done, when nobody else can!
(Kona Home Team (luva llc))
I wish we did write write this one, but we didn't.With full permission from Joshua Montgomery I am reposting his letter - here: Chairwoman Heather Kimball and Council Member Ashley Kierkiewicz have published the third draft of their proposal to heavily regulate homestays and farmstays here on Hawaii. These regulations are separate from Bill 108 which passed in 2018 and addressed the issue of absentee owned vacation rentals.  Since 2018 absentee owners have been tightly regulated and remain regulated today.Their proposal is targeted at local families and farmers who rent a room or an ohana to visitors.  They are targeting Kupuna who rely on visitor rentals as part of their retirement. They are targeting young families who can only afford a home if they rent a portion to visitors.  They a...
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By Kona Home Team (luva llc) Lance Owens (RS), Getting transactions done, when nobody else can!
(Kona Home Team (luva llc))
We believe everyone should feel confident when buying and selling a home. So we have teamed with KCM and bring you a new guide every quarter.Five quick tips ( download guides for more expert advice) Get pre-approved for a mortgage: This will give you an idea of how much you can afford to spend on a home and help you narrow down your search. Hire a reputable real estate agent: A good agent can guide you through the home buying or selling process, negotiate on your behalf, and help you navigate any issues that may arise. Do your research: Before making an offer on a home, do your due diligence. Research the neighborhood, the home's history, and any potential issues that may affect its value. Be prepared to negotiate: Both buyers and sellers should be prepared to negotiate. As a buyer, yo...
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By Kona Home Team (luva llc) Lance Owens (RS), Getting transactions done, when nobody else can!
(Kona Home Team (luva llc))
Aloha, Lance Owens (RS) with LUVA Real Estate with our latest condo review.Nestled in the charming town of Kailua Kona, Na Hale O Keauhou is a beautiful condo complex that offers residents an unparalleled island living experience. With its luxurious amenities, serene environment, and convenient location, it's no wonder why this gated community is highly sought-after.Location and AmenitiesLocated in the heart of Kona, Na Hale O Keauhou is just minutes away from the Keauhou Shopping Center, where residents can find a wide variety of shops, restaurants, and services. For outdoor enthusiasts, the complex is surrounded by stunning beaches, hiking trails, and golf courses.Experience the Best of Island Living at Na Hale O Keauhou in Kailua Kona from the Kona Country Club Golf Course Na Hale O ...
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By Kona Home Team (luva llc) Lance Owens (RS), Getting transactions done, when nobody else can!
(Kona Home Team (luva llc))
A Slice of Paradise in Kona, Hawaii Aloha, Lance Owens (RS) with LUVA Real Estate bringing you the latest in real estate information. Welcome to our series of articles on different areas of West Hawaii, today we chose "Kanaloa at Kona" Located on the stunning west coast of Hawaii's Big Island, Kanaloa at Kona Condos is a premier residential community that boasts of a tropical haven for those seeking a peaceful yet luxurious lifestyle. This gated community spans over 16 acres and offers 166 spacious units that are surrounded by lush landscaping, shimmering ponds, and panoramic ocean views. The units range in size from one to three bedrooms, each with their own unique features and amenities. Units offer private lanais, perfect for taking in the gorgeous Hawaiian sunsets, while others hav...
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By Kona Home Team (luva llc) Lance Owens (RS), Getting transactions done, when nobody else can!
(Kona Home Team (luva llc))
Do you think the turtle has any foresight on what to expect.... Aloha, Lance Owens (RS) with LUVA Real Estate bringing you the latest in real estate news and now today - predictions also?I am going to start out with past performance and dismiss all the bait/click headlines out there that tell us the sky is falling, yet by the end of the article they have provided little or no proof as to what the headlines claim, just this morning I seen one that screamed it is the worst since 1990... and at the end of the article it said house prices had fallen .3% .Lets jump right in and look at December numbers as of 11:00 am HST 12/30/2022. Today being the last day of the year that a sale can be recorded, we are not going to see any big changes next week and I wanted to get the 2023 report out in 20...
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By Kona Home Team (luva llc) Lance Owens (RS), Getting transactions done, when nobody else can!
(Kona Home Team (luva llc))
 Aloha, Lance Owens (RS) with LUVA Real Estate.With all the headlines and talk in the media about the shift in the housing market, you might be thinking this is a housing bubble. It’s only natural for those thoughts to creep in that make you think it could be a repeat of what took place in 2008. But the good news is, there’s concrete data to show why this is nothing like the last time.There’s Still a Shortage of Homes on the Market Today, Not a SurplusFor historical context, there were too many homes for sale during the housing crisis (many of which were short sales and foreclosures), and that caused prices to fall dramatically. Supply has increased since the start of this year, but there’s still a shortage of inventory available overall, primarily due to almost 15 years of underbuildin...
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By Kona Home Team (luva llc) Lance Owens (RS), Getting transactions done, when nobody else can!
(Kona Home Team (luva llc))
Aloha Lance Owens here with LUVA Real Estate bringing you "the rest of the story" Sometimes I just wake up screaming when I read the headlines, they don't tell you the rest of the story, but I am here to change that!YES - Sales are off by 25% - 25% of what? 25% of the craziest year EVER in real estate, sure, its a real number, but follow along with me, because if you want to go into homeownership educated, you need to know all the numbers!NEW LISTINGS: Down by 30%, yes 30%.... so tell me, how do you sell more homes with less listing? You don't need a calculator to do the math here, you had 30% less homes on the market, and only 25% less sales? Are you starting to see the picture........Mortgage Interest Rates: Another confusing factor in the very complex housing market.... Although the ...
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By Kona Home Team (luva llc) Lance Owens (RS), Getting transactions done, when nobody else can!
(Kona Home Team (luva llc))
Aloha, Lance Owens (RS) with LUVA Real Estate bringing you the latest in real estate news and trends. Some days you just wake up screaming (lol) at all the misinformation about the housing market, the news, the internet, the paper, instagram...... so I did a DEEP DIVE into the effect that "double the interest rates" from a year ago, is having on the housing market.Take a look at my vlog - because its not what you think!Aloha and Mahalo, reach out if you have any real estate needs on the Big Island
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By Kona Home Team (luva llc) Lance Owens (RS), Getting transactions done, when nobody else can!
(Kona Home Team (luva llc))
Aloha, Lance Owens with LUVA Real Estate and our partners at KCM bringing you the latest in real estate news and trends.The real estate market is on just about everyone’s mind these days. That’s because the unsustainable market of the past two years is behind us, and the difference is being felt. The question now is, just how financially strong are homeowners throughout the country?     Mortgage debt grew beyond 10 trillion dollars over the past year, and many called that a troubling sign when it happened for the first time in history.Recently Odeta Kushi, Deputy Chief Economist at First American, answered that question when she said:“U.S. households own $41 trillion in owner-occupied real estate, just over $12 trillion in debt, and the remaining ~$29 trillion in equity. The national "L...
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By Kona Home Team (luva llc) Lance Owens (RS), Getting transactions done, when nobody else can!
(Kona Home Team (luva llc))
EXPERT FORECASTS ON MORTGAGE RATESIf you’re still sitting on the fence, thinking about buying a home, you may have been watching what’s happened with mortgage rates over the past year.Aloha, Lance Owens (RS) here with LUVA Real Estate and our partners at KCM, It’s true they’ve risen dramatically, but where will they go from here, especially as the market continues to slow?As you think about your homeownership goals and decide if now’s the time to make your move, the best place to turn to for that information is the professionals. Here’s a summary of the latest mortgage rate forecasts from housing market experts.EXPERTS PROJECT MORTGAGE RATES WILL STABILIZEWhile mortgage rates continue to fluctuate due to ongoing inflationary pressures and economic uncertainty, experts project they’ll st...
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