Upon first glance at last year’s residential sales in Kohala Ranch real estate, things look a little, well… messy. Prices all over the place, no “sense” to be made of price versus time of year, a “mixed plate” at best. But when compared to 2008 residential sales in the Ranch, it’s tempting to say what a difference 365 days make!
Jan Nores, R(S), sold this luxury Meadows estate for $1,500,000 in December 2009
Only four homes sold in Kohala Ranch in 2008, with a steady downward pricing trend, and no sales at all between a house in the Heathers that sold for $1,175,000 July 7th, 2008 with a conventional bank loan until a house in the Meadows sold for $639,000 with seller financing on February 18th, 2009. Gulp. Perhaps in greater detail, a story for the history books about how the worldwide economic crisis of 2008 affected Big Island real estate.
2009 saw 9 houses sell in Kohala Ranch, only 3 of which were purchased with conventional financing (a mortgage loan). The final sale of 2009 was a gorgeous home in the Meadows that was listed by Hawaii Life’s Jan Nores, R,(S), and sold for $1,500,000 with seller financing. Currently, there are 23 residences for sale in Kohala Ranch, from a lot with plans and a contractor including the building of the house for a low, low price: $745,000 to a Heather’s estate listed for $2.9M and a Summit “Epic” estate also listed for $2.9M. Love the summit, but looking for something a little more “hidden?” in the $1,795,000 range?.
Or perhaps you want to see the sun set over the ocean 365 days this year for $1,399,00?
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Beth Thoma Robinson | Jan 18th, 2010
I am not surprised that buyers are waking up to the values to be found at Kohala Ranch. Looking through 2009’s residential sales, it strikes me that buyers are also very discerning. There are some bargain-basement deals, and also some fair prices paid for beautiful properties, like Jan’s listing that sold at the end of 2009. That’s why the input of an agent like Jan, who really knows the inventory inside and out, is so valuable to the prospective buyer looking at photos on our website and dreaming!
Aloha
Beth
Justin - Head Web Head | Jan 18th, 2010
That last photo is stunning. If I looked out my window and saw that I’d think I was living in heaven.
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