Aloha, Lance Owens (RS) with LUVA Real Estate and our partners at KCM are bringing you the latest in real estate trends - after seeing the national number, scroll down to the bottom as I touch on a few local numbers.Some Local Highlights In North Kona, we have seen inventory almost double in some cases, but we are still only at about 65% of where we should be in a normal market Although inventory has increased, sales have slowed significantly Slower sales has not hurt the median price, SFH median price so far in July, is up 42% over last July, and up 18% YTD. (remember we still have 9 days left in the month to report sales - this could dramatically change these numbers still) Nationally below: Experts say the number of homes for sale is growing this year, and that can have a big impact ... 07/22/2022

I get asked a lot about the market recently, so just think of it like this:Imagine you are driving down the highway. The speed limit is 65 mph, but you and the many other cars on the road are humming along at 85-90 mph. You’ve been traveling this speed for well over an hour. You are making great time. You feel great. But then you notice that cars coming toward you are flashing their headlights. You know what that means: an upcoming speed trap. Lo and behold, in the distance you spot a car on the side of the road. You slow down to 65 mph, just in case, and as you approach the car you see it’s a police vehicle with an office pointing a radar detector at the traffic. Because you slowed down, you don’t get pulled over for speeding, but now you and the cars around you are all traveling at th... 06/03/2022

On the Big Island of Hawaii Ainamalu was the first development to promote Tesla products to all their homeowners.  Just about all the people that purchased added solar panels as well as batteries in the garages.  Within the first six months of installation close to 50% of the homeowners reported problems with the Tesla systems.  Most issues related to the interaction between the panels and the batteries.  Most owners that had pools installed had problems with the operation of the Tesla system.The greater issue was that the follow up support from Tesla was next to non existent.  Almost all homeowners reported being able to get a hold of Tesla support on the mainland, but although appointments would get scheduled no one would show up to them.  Ainamalu is over three years since the homes ... 04/29/2022

Is It Enough To Offer Asking Price in Today’s Housing Market? West Hawaii and National Numbers.  Lance Owens Lance Owens Your 2022 go to real estate expert for the Big Island of Hawaii -37 years in Hawaii, the last 22 in Kona. Local Expertise you can count on. Published Apr 27, 2022 + Follow Aloha, Lance Owens (RS) with LUVA Real Estate and our Partners at KCM bringing you the latest in real estate news and trends. If you’re planning to buy a home this season, you’re probably thinking about what you’ll need to do to get your offer accepted. (Read my article on How to Win ) In previous years, it was common for buyers to try and determine how much less than the asking price they could offer to still get the home. The buyer and seller would then negotiate and typically agree on a revised p... 04/27/2022

Things You Need to Know Before Buying Land in Kona, HawaiiIf you're in the market to buy your own piece of paradise in Kona, Hawaii, you should know a few things first and this is a good place to start. Zoning laws, climate zones, building restrictions, use restrictions, cultural considerations, access to utilities, you name it! Every state, county and neighborhood across the country is different and you need to know the things that may affect your use and enjoyment after you purchase land in Kona, Hawaii.Now, the easiest way to handle this is to, of course, call me. I will answer your questions, find out what you are looking for and help you find a great property in Kona. I have been selling real estate in Kona for over 20 years and I can honestly say experience is not expensive, it's ... 01/21/2022

If you've decided to make the big move to Kona, Hawaii, congratulations, it's a great place to live. Now, it's time to figure out some of the logistics. Hopefully, I can help.Pets? If you have a dog or cat, you can bring them home from the airport shortly after you arrive. That's a big change from the 30 day quarantine on Oahu that was required when I moved to Kona. You do however, need to follow a strict protocol on the rabies antibody test timeline. Here is a link to the State of Hawaii Animal Industry Division . They have everything you need, including applications, forms and check lists.Transferring your out of state drivers license for a Hawaii license, is a good idea. Having a Hawaii drivers license can get you Kamaiiana rates on hotel stays, golf and other fun stuff. At the Count... 11/23/2021

Hawaii Island has three active volcanos. While the risk of having a lava flow inundate any individual property on the island is low, the hazard is not the same in all areas. The USGS geologists and volcanologists put together a series of Lava-Flow Hazard Maps over the years, most recently in 1992. This map has 9 hazard zones with lava zone 1 being the most hazardous and 9 considered to have the least hazard of lava flow inundation. In developing these maps, they took into consideration topography and rift zones around the active and dormant volcanos on the island.Lava-flow hazard zones are intended by the USGS to be used by the public to determine general lava hazards over an extended period of time. However, mortgage lenders and insurance companies use these maps to set premiums, rates... 11/22/2021

Hawaii Island has seen its population grow about 8% over the last decade. In the 2020 census the population of the Big Island reached 200,000. The Kona District has been growing too but it still has the small town charm and laid back lifestyle that people love. So, why are people moving to Kona, Hawaii?~ Everyone loves the weather. Kailua-Kona is on the dry side of the island but don't let that fool you. It may be all sunshine at the beach but drive a few miles up the mountain and you could be enjoying a rain shower in a tropical forest. Living on a mountainous island gives you lots of climate zones to choose from.~ More and more people have the opportunity to work remotely. I have met many new residents of the Big Island who said they're here because their company lets work from home. ... 11/19/2021

  Cottages on Alii Drive - New Housing Development on Alii DriveThere is a new housing development getting ready to break ground in Kailua-Kona. Cottages on Alii Drive will consist of 58 single family homes and a neighborhood park on a 10 acre parcel. Soon there will be more information about floor plans but at first glance, it looks like there will be both single story and two story homes with lot sizes ranging from 5,000 to 13,000 square feet, with most in the 5,000 range. The developer is Stanford Carr, he has built quite a few, well received condominium and single family developments in West Hawaii and on Oahu. The location for these plantation and craftsman style homes is fronting Alii Drive, across the street from the ocean and about a mile south of historic Kailua Village. Hawaii... 11/16/2021

8 Things to Know Before Buying a Vacation Rental Condo in Kailua-Kona, HIKailua-Kona has become a very popular place for second home/ vacation rental condo purchases. The weather is perfect year round so there really isn't an off season. The right condo will have very high occupancy rates all year. Buyers should know a few things before starting their search. 1. On the Big island, condominiums rented for less than a 30 day period need to have an STVR (short term vacation rental) permit. The application can be found at the Hawaii County Planning Department web site .2. The condo has to have the proper zoning and CC&R's that do not restrict rentals for a period of less than 30 days.3. Location matters. The condo will have higher occupancy rates if it's in a location that offers ocean view... 09/30/2021

Aloha, Lance Owens (RS) here with LUVA Real Estate bringing you our monthly sales report. Talk about some crazy numbers, let's start with......"Absorption Rate": The term absorption rate refers to a metric used in the real estate market to evaluate the rate at which available homes are sold in a specific market during a given time period. It is calculated by dividing the number of homes sold in the allotted time period by the total number of available homesWith that said, it is generally understood that anything under 15% is a buyers market, anything above 20% is a sellers market. Lets roll back a few years, and we are going to skip 2020. Back in 2018 our absorption rate was 14%, so it slightly favored buyers, FF to 2019 and it hovered around 20%, so it was slightly leaning towards bein... 07/08/2021

When we think of Hawaii, we often associate it with the beach, the sun, and a relaxing vibe that come with living life in a tropical paradise. It’s the place that comes to mind when we think of getting away from our everyday responsibilities and the hustle and bustle of city life. It’s also where we feel we can be free to not just relax but to simply exist.Indeed, isn’t it pleasant to think that there’s always that one place we can retreat to when we want to slow down, disconnect, and recharge? Well, you can stop dreaming and start living your vision by buying a property on Maui; enjoying every minute as you spend your waking hours mesmerized by the island scenery at your doorstep in beautiful Lanikeha.Full Article Here: Build Your Dream Hawaii Home in Kaanapali’s Lanikeha 07/02/2021

Aloha, Lance Owens (RS) here with KonaHomeTeam (luva llc). I go over this topic when training agents, or educating my clients, (both buyers and sellers) - some get it, some don't, and let's face it, if there was one perfect way to negotiate, we would all be doing it!What is an escalation clause you ask?Escalation clauses: This is a clause in the offer that states if a competing bona fide offer is made on the property, the buyer’s offer will automatically increase by a certain dollar amount over the competing offer up to a maximumReason #1: You just tipped your hat as to how high you are willing to go in a negotiation - that's not a very good start. I liken it to playing a game of poker, but you are the only one at the table that is placing a bet, with all your cards laid - face up! (can... 05/19/2021

Aloha, Lance Owens (RS) bringing you the latest in Real Estate News, and I can tell you first hand, ITS NOT HAPPENING! In our local market (West Hawaii), SFH sales were up 63% over last October, but more important than that, 36% of them sold for cash (see below about walking away from equity) but lets go ahead and take a look at what the "Experts" are also saying: There seems to be some concern that the 2020 economic downturn will lead to another foreclosure crisis like the one we experienced after the housing crash a little over a decade ago. However, there’s one major difference this time: a robust forbearance program.During the housing crash of 2006-2008, many felt homeowners should be forced to pay their mortgages despite the economic hardships they were experiencing. There was no e... 11/18/2020

We are excited to announce the Fall release of our valuable "Buyers Guide" ! Like we even have a "Fall" in Hawaii ! Just know that this new guide is up to date with current market conditions, how covid is affecting things like mortgage rates, home prices, and so much more. Also see what the experts are forecasting for the future. Just click the guide below, you don't have to register or give any personal information, but we do encourage you to sign up for our MLS Concierge Service and get Listing Updates sent to you instantly.  09/22/2020

I keep hearing from buyers on the fence….. “Its 2005 all over again” or “this bubble is ready to BURST !"  even better "I'm waiting for the rush of foreclosures in 2021 …  Aloha, Lance Owens (RS) with LUVA Real Estate bringing you the latest in real estate news and I wanted to point out a few differences. Those of you that have been following my blog over my 16 year career know that I have been a full time Realtor here in Kailua-Kona Hawaii since 2004, the 2018 President of West Hawaii Realtor Association of Realtors , I currently serve on the Hawaii State Board of Realtors, and the 2020/21 RPAC Trustee for WHAR, so when I reference what happened in 05,06,07….. this is not something I read on the Internet, found in a book, or heard at the water cooler. I lived it, I worked it, and I ca... 09/18/2020

 Aloha , this Lance Owens (RS) with LUVA Real Estate bringing you the latest in real estate news .For months now the vast majority of Americans have been asking the same question: When will the economy turn around? Many experts have been saying the housing market will lead the way to a recovery, and today we’re seeing signs of that coming to light. With record-low mortgage rates driving high demand from potential buyers, homes are being purchased at an accelerating pace, and it’s keeping the housing market and the economy moving.Here’s a look at what a few of the experts have to say about today’s astonishing recovery. In more than one instance, it’s being noted as truly remarkable.Ali Wolf, Chief Economist, Meyers Research"The housing recovery has been nothing short of remarkable...The ... 07/21/2020

Serenity awaits you on this lush 22.13 acre lot with breathtaking sunrises above the quaint town of Wailea. Gently sloping pastures with forested areas await the gentleman rancher or farmer or a family ready to enjoy a self-sustaining life on the Hamakua Coast. The North West boundary of the property is defined by the year round flowing Ka'ahakini Stream.A rock wall, with custom gate invites you to a circular driveway and ready to build on house pad. A 2000 sq ft warehouse with high ceilings is accessed via 2 garage doors or man door and accented with native Ohia posts and decorative rock walls. The warehouse has county water and plumbed for a shower, water closet, lavatory and utility sink. Cesspool inspection forms are attached. An exterior carport is deep enough to house a 27' traile... 06/22/2020

 SOME HIGHLIGHTS Taking a moment to reflect upon what we’ve heard from historical leaders can teach us a lot about getting through the many challenges we face today. We're all eager for the day when every American can safely return to work. That day is coming. Timing is everything. Patience is essential. Our courage, strength, and unparalleled resilience will get us there. “America was not built on fear. America was built on courage, on imagination, and unbeatable determination to do the job at hand.” – Harry S. TrumanDM me if you have questions about how everything happening right now impacts our local housing market and your position within it. #covid19 #wordstoliveby #inspiration #mindovermatter #motivation #mindset #inspiredaily #dreamhome #homesweethome #realestatetips #realestates... 05/08/2020

Just about a year ago we saw the County of Hawaii implement a vacation rental bill to attempt to address many of the growing issues the vacation rental industry on the Big Island of Hawaii has seen.  Through the first few months it was a learning process for everyone.  Glitches had to be worked out in the application process while thousands of applications were coming in.  Within that process we also found out that many of the "zones" were becoming an issue.  A portion of Waikoloa Beach Rosort was actually not zoned a part of  Waikoloa Beach Resort and a part of Mauna Kea Resort was actually not zoned to be a part of Mauna Kea Resort.After close to a year I am wondering if more issues got made than what existed prior or if things are getting addressed.  I still see home being built in n... 03/31/2020