I canâ€™t say how many times in a week I am asked this question; too many to remember, but enough to know the answer without a lot of thought.
The resort market here on the Big Island from Hualalai and Kukio up to Mauna Kea and including Waikoloa Resort and the Mauna Lani started showing signs of sales as early as October this year, where the average market can almost be charted; a flurry in December and the bulk of the sales taking place from December 30th thru April 15th.
This year sales have actually been robust and as far as hitting bottomâ€¦are we there yet, are we there yetâ€¦I for one would have to say WE ARE THERE!
Buyers and Sellers, along with every Realtor in the world, have been watching the MLS (multiple listing service) stats like a bad stock reportâ€¦. Price drops daily and new listings slashing each other to drop to the lowest price over the past 3 years. With the glut of the short sales and foreclosures having hit the market and been gobbled up, often seeing multiple offers, the bargain shoppers are no longer waiting for the market to drop!
Halii Kai now has properties less than $400,000 and ocean view at 50% of original developer costs. Waikoloa Colony Villas are a bargain at less than $300,000; and the best buy of all right now is a 1466 sq. ft. double master suite in the Shores at Waikoloa on the golf course fully furnished for $420,000.
This is the best buyerâ€™s market in 20 years! Let us not forget the perfect market is one where there is plenty of inventory, great pricing and motivated sellers, along with the best interest rates we have seen in a â€œnormalâ€ (HA) mortgage market in 20 years. I doubt it will get any better for another 20 years! If it does, you can call me then. Those wanting to invest in reality, call me now!