Is a pick up in home sales bringing hope for the big majority of Waimea sellers?
This Frank Lloyd Wright Taliesin design (MLS# 233216) is in escrow listed at $999,900
September sales for the Big Island’s town of Waimea (Kamuela) showed the green side of town outselling the dry side  3 to 1.
Overall, the price of home sales continued to stay quite low for Waimea with the three green side homes closing for an average price of $228,000. Distressed properties continue to account for lower prices as two of the homes were REO’s, or bank owned properties.
An example of getting a lot of house for the money on the green side of town was a 5 bed / 3 bath home on a 19,514 sf lot that sold for $260,000. The other two homes were only on the market for about a month, showing that homes priced around $200,000 are in demand with Waimea buyers.
On the dry side of Waimea, the only sale was a resale in Luala’i — the area of town that is consistently delivering the sales for dry side Waimea. The property closed at $395,000 with a VA loan for one of the larger 4 bedroom models on a 10,000 sf lot.
Upcoming months look to have a pick up in sales for Waimea as there are currently 16 homes in escrow. Not only is there a promise of an increase in sales numbers, the prices also show a big increase with only five homes priced below $300,000. That leaves five homes in the $300k’s, four in the $400k & $500k’s, one in the $600k’s, and one in the $900k range.
So, where are sellers pricing their homes? Again, I’m using the $300,000 mark as a reference point and find that, out of 83 homes on the market, only 14 are priced below $300,000. That leaves 83% of Waimea’s homes priced over $300,000. And yet last month, only one out of four homes was over the $300,000 figure. That’s why it’s important to watch what’s going into escrow to see if there may be some hope for the big majority of Waimea sellers.
If you’d like more information on homes for sale in Waimea, feel free to contact me.
Tobi Fisher
October 13, 2010
Thanks Pat, great update. Tobi
Tobi Fisher
October 13, 2010
Thanks Pat, great update. Tobi
Pat Strausse, R
October 13, 2010
You’re quite welcome Tobi – I enjoy doing these monthly
updates. Check back in again next month!
Pat
Pat Strausse, R
October 13, 2010
You’re quite welcome Tobi – I enjoy doing these monthly
updates. Check back in again next month!
Pat
Diane Chavez, RS
October 14, 2010
Pat please make sure your readers know about the 8 homes the sales rep at Luala’i said they had under contract on the dry side, being built and well priced. You want to make sure those potential purchaser’s see you for buyer representation in case they are shopping for a new home. It is important they take you, Pat to the sales center first and register you as their Buyer representative. Most Buyers don’t know they can opt to have Buyer representation instead of the one sided agency a developer will offer when you walk in unescorted into to a sales center. I know you are well aware of all that but just thought I’d give those buyers the heads up to talk to you first, prior to them strolling into the sales center, without you. Aloha
Diane Chavez, RS
October 14, 2010
Pat please make sure your readers know about the 8 homes the sales rep at Luala’i said they had under contract on the dry side, being built and well priced. You want to make sure those potential purchaser’s see you for buyer representation in case they are shopping for a new home. It is important they take you, Pat to the sales center first and register you as their Buyer representative. Most Buyers don’t know they can opt to have Buyer representation instead of the one sided agency a developer will offer when you walk in unescorted into to a sales center. I know you are well aware of all that but just thought I’d give those buyers the heads up to talk to you first, prior to them strolling into the sales center, without you. Aloha
Pat Strausse, R
October 15, 2010
Good point Diane! For all you buyers out there that are thinking about a home in Waimea..or anywhere actually, as Diane just pointed out, you should know you can have your own agent represent you when you are buying in a new development. BUT,
you need to establish this relationship the first time you visit the sales office. As your representative, we can negotiate your sales contract and upgrades and help you through the whole process much the same as buying an existing home. One thing many buyers may not think to ask for on new construction is a home inspection. Just ask any realtor about the “punch list” found by the inspection on new construction! It’s a good idea to have a buyer’s agent represent you for purchasing an existing home or a new home from the developer. So, if you’re thinking of looking at a new home or condo, please contact a Hawaii Life agent before you make that first visit to the sales office.
Pat Strausse, R
October 15, 2010
Good point Diane! For all you buyers out there that are thinking about a home in Waimea..or anywhere actually, as Diane just pointed out, you should know you can have your own agent represent you when you are buying in a new development. BUT,
you need to establish this relationship the first time you visit the sales office. As your representative, we can negotiate your sales contract and upgrades and help you through the whole process much the same as buying an existing home. One thing many buyers may not think to ask for on new construction is a home inspection. Just ask any realtor about the “punch list” found by the inspection on new construction! It’s a good idea to have a buyer’s agent represent you for purchasing an existing home or a new home from the developer. So, if you’re thinking of looking at a new home or condo, please contact a Hawaii Life agent before you make that first visit to the sales office.