Hawaii Real Estate, specifically the Kailua Kona area of the Big Island, I will predict what the home sales and median price will have done for the year 2012.
Looking into my Crystal Ball, I see a bright a future, very BRIGHT, so BRIGHT, you have wear shades!
Predicting that the Median Home Price, again Kailua Kona area, will be up - approximately in the 7% range - remind you, this only a prediction, but I am feeling pretty good about it. I will even go one step further and Predict December 2012 increase over December 2011, to be in the ....... UP, ........ into the 15% increase range, just a guess, but I am betting I am pretty close.
Now predicting Condos is a little bit tricky, but I am going to give it a try here - I predict Condos to have an 11% increase in Median Pricing for the year 2012, there I did it, lets see how close I am next week :)
Bottom line, all kidding aside (the numbers above are correct and derived from today's MLS report) If your still waiting for the bottom to hit - You have already missed the boat. But the thing is, you can use these numbers to make an educated decision on whats happening in the market.
Great little story, I just listed a condo at $265,000, I get a low-ball offer from a buyer that ..... (leaving this one alone)
So I get an offer, and they use a sale I (don't think they realized it was my sale) I had earlier this year for about 40k less, same exact unit, so you would think it would be comparing apples to apples? what they didn't do their homework on, was this exact same unit was in Escrow again, but now at $269,000 - with no changes done to it.
The market has changed, not just one month, not just 1 quarter, but we are seeing a trend, that has been set all Year.
Give me a call if you're interested in making an "informed" decision about buying a home or condo, here on the Big Island of Hawaii, Specifically West Hawaii area. I would love to sit down, look at all these numbers, and go over what they really mean to you.