Pricing your property correctly - MY PHONE IS RINGING AGAIN - ocean front for $699,000

In this ever falling real estate market, its always difficult to make your sellers understand that their home - just isnt worth what they believe it is. (in reality - it was never worth that anyway). But I have some sellers that took my advice - and priced it correctly. Lucky I had 2 comps, one right above them that just closed 2 weeks ago at $685,000 - and another one 4 weeks ago also at $685,000. The problem is that they were both listed in the mid to high $750s and another one is listed in the low $800s - so every one was telling them to list it in the mid $750s also.
I explained to them, that made no sense at all - with $860.00 a month maintenance fees, and a market here that is still falling (<5.14%> drop in median condo prices this year) I mean thats - $7,500. a month on a $750,000 condo. So bottom line is - they took my advice - we have it listed at $699,000 and it should sell at near that price. The good news is that ocean front properties are not falling near as much as other properties - and this is ocean front.

But still in a market where, for the month of June we are sitting at 9 condos being sold (2 years ago we were averaging 50+ a month)- I am happy with 3 showings today!
I expect an offer within a week on the property - I will keep you updated.
By the way - here is the VIEW from the Living room lanai

If you look close - you can seee all the fishing boats out by the bouy - I heard big Ahi were going off!

I think I forgot to Mention - the back of the condo is Golf Course Frontage !!!

Aloha, and have a great day

Lance Owens (RS)

(808) 936-8383

Lance@KonaHomeTeam.com

www.KonaHomeTeam.com

Aloha Kona Realty Inc.

78-6740 Alii Drive