Who is Buying What? Kailua Kona Condo Sales 2011 - Posted January 2012

January 3, 2012 - Interview with Kailua Kona Realtor Lance Owens (RS) Aloha Kona Realty Inc.

Ok we all know 2011 was a good year for Real Estate Recovery in Hawaii, but every now and then I like to break it down and see who is buying - what? And it always surprises me, along with many of my readers.

So I took November 2011 Condo sales, 17 sales, to see who is paying the taxes on it - basically the new owner. (December wouldn't be updated yet)

Sales Ranged from -

$53,500 for a 372 sqft studio - leasehold property

To a $1,175,000.00 for 2/2 1,800 sqft, Fee Simple property

How many guessed Foreign investors?

How many guessed Mainland Investors?

How many guessed Owner occupied?

Well if you guessed Mainland investors - you win!

California leads the pack with 4 buyers listing a California address.

Hawaii comes in 2nd, with 3 buyers.

Washington State comes in 3rd, with 2 buyers.

Alaska, Montana, Oregon, Nevada, Texas, Kansas and Minnesota, each brought in 1 buyer.

And we had 1 Foreign buyer - Canada.

Anybody want to guess how many of these sales were cash? ....................... 11 of the 17 were cash sales.

If you get a chance take a look at "Home Sales - who is buying what for November 2011"

Be sure to look for the upcoming forecast for 2012, and a look back at 2011 sales.