Lance Owens, Kona Real Estate (808) 936-8383

I know, its not fair, temp 81, nice southerly breeze, just a beautiful Sunday afternoon and my wife talked me into a game of golf, Mauka Course at the Kona Country Club - $25.00 each after the Kamaaina (resident) discount - how could I go wrong? I couldn't :)

A few photos from the weekend and then I will lead me into some great golf course properties at the end here.

First - the weather

Then me - I never claimed to be graceful, so don't ask me to golf with you, if you are totally serious about your game - I'm in it for the fun.

My lovely wife - who, by the way can kick my but at golf - she has a mother in the Hawaii PGA hall of fame.

And of course - she is going to kill me - but I just cant help it

My wife visiting the beach :) - I am only doing this because she kicked my butt.

OK - here is what I promised

2/2 on the golf course - Country Club Villas - priced at $318,000 with a $10,000 credit for "decorating" at closing.

Shoot me an email, there are a lot of Golf Course deals out there

Here is one we closed a few months ago

Vista Waikoloa 2/2 on the course - closed at $317,500

Note: I worked with Julie Ziemelis on this, and with her permission I posted this directly from her blog - 365Kona

Note from Julie Z: I am helping the West Hawaii Association of Realtors with information about the housing market in West Hawaii. I wrote this story for the Association and wanted to share it here for my readers. I think part of living in Hawaii is understanding the local housing market. I hope you find it useful!

The Kailua-Kona housing market showed another year of gains in 2011. After the dismal losses from 2007-2009, the market gained in 2010 and 2011 and seems to be on a slow upswing.

Lance Owens, Aloha Kona Realty, compiled the year-end statistics for Kailua-Kona, which covers Hualalai to Kainaliu. “Single family home sales were up 8.9% for the year and condo sales were up 6.21% for the year. Interesting to note, condo home sales were up 85% in 2010 up from -9.84% in 2009”, Owens noted. “The median price for a single family home in North Kona in December was $371,000, in South Kona it was $315,000, in South Kohala $335,000 and in North Kohala the median price was $497,000”, he stated.

“We have to go back to 2006 to find a better year for single family and condo sales in Kona for number of units sold.” Mr. Owens stated.

In terms of who is buying the homes right now in Kona, Mr. Owens pulled up home sales for November and found that out of 32 homes sold, 15 were Kailua Kona residents, six were from California and the remainder were mixed among the mainland residents.

Overall for 2011, the local housing market performed well, with a healthy market with an 8.9% gain in home sales, compared to national average of 12.2%.

Owens noted that we had a moderate increase in 2011 and projects the market to behave similarly in 2012. “The current affordability is at a very high level in Kona proper. I have seen newly built homes in the $370k range, which is a great deal for families looking to get into the market. This year, look for short sales to continue, so there will be deals to be found, and the foreclosure market is still tied up in the courts due to Act 48.”

Katie Minkus, Broker for Hawaii Life Real Estate and 2012 President of the West Hawaii Association of Realtors, said, “I know for certain we’ve passed the bottom of the market in places such as the resorts, especially in projects with limited inventory such as Hali’i Kai, the Villages at Mauna Lani, etc.”

Speaking on the foreclosure market, Minkus said, “Act 48, which is holding up all the foreclosures in court, has contributed to a huge increase in short sales over the past six months, and an equal decline in REO sales. In the areas with decreased inventory, we have already seen prices rise especially as the distressed property is being sold through. Sellers have no need to sell at “distressed property prices.”

Personally, at Hawaii Life, we’ve put 24 transaction sides into escrow since Thanksgiving, which is by far the most I’ve seen this time of year in forever. Last year it was less than 10 in the same time frame”, she stated. Asked about the near future of the local housing market, Minkus said, “I’m feeling VERY bullish about the 1st half of 2012.”

Altos Research, a real estate data company, shows the median price trend of homes in the Kona area declined in July and have trended back up to $556,300 as of January 3, 2012.

Fannie Mae has a great program out there help homeowners get into investment properties at investment prices.

Note: I represent buyers for these properties and this is not my listing

My pick - for the Deal of the Day is this one: Located about 30 miles from downtown Kailua Kona, sits on an acre+ of land, is this 2 bedroom 2 bath home built in 2004 - get this - Listed at $129,900 - not a typo, 2/2 on an acre for $129,900 - and its not in Ocean View or Hilo - this is in South Kona, just about 30 miles from town!

Here is the description:

Wonderful newer home in Lani-Kona subdivision. Built in 2004, this nicely constructed 2 bedroom, 2 bath home is on an oversized lot 1.10 acres. Affordable country living is still a reality in South Kona. Has all the conveniences, even high speed internet through DSL here. The yard is partially fenced and cleared - ready for gardening or family farm._ _ _ This is a Fannie Mae Home Path property_ _ Purchase this property for as little as 3c down!_ _ This property is approved for HomePath Mortgage Financing_ _ This property is approved for HomePath Renovation Mortgage Financing_ _

Let me know if you want to get into this home: Lance Owens (RS) 808-936-8383

FYI - January 13, 2012 - live snapshot of the temp

If thats not enough - take a look at this Christmas Day photo, taken in Kona on Alii Drive

Deal of the day - Bank approved at $618,000 - Hualalai Colony

With the new law that took effect last May, there has never been a better time in history to do a short sale on your home. (read below)

You know what, let me backtrack a little here,

There has never been - a better time in history - to actually SAVE your home.

If you are "Owner Occupied", have the means to make payments, and are behind in payments, or in foreclosure, this new law puts teeth in keeping - YOU - in your home.

Act 48 Hawaii, and Know Your Options website from Fannie Mae are great tools for you. PLEASE visit these websites and get the counselors working on your file - NOW (I have said this 100 times before, but, if you were denied before - TRY AGAIN - the rules change constantly. You know what, I am going to offer my hand here, you have a quick question about staying in your home - call me, I have personal experience on this matter, I will try to give you some guidance.

Ok, so if saving your home is not an option - you need to call me, whether your an investor, or a homeowner, it doesn't matter, Foreclosure sale date already set - CALL US. With more short sale experience on the Big Island, and a network set up between the islands, your not going to find anyone with more experience. We have more Hands on Training, and real life success stories than most people even read about.

Doesn't matter which Bank, Bank of America, Chase, Wells Fargo, Bank of Hawaii, RoundPoint Mortgage - INDYMAC (personal favorite)............. We love them all.

1 loan, 2 loans, 3 loans - we love them all

2 people on title, 3?, 4? 5? 6? - We have even closed short sales with 6 investors on title - SIX.

PMI - We love Private Mortgage Insurance

Here - take a look at our SOLD short sales,

Bottom line guys - I am asking for more short sales - I need more homes to add to this list!

215678CNDS1093-6-8-22-4-107FS$875,000Villages At Mauna Lani #5122,174 #512 3/3.01

SOLD 4/22/2009 for $800,000 (FHA) DOM 109

219866RESS3433-7-6-23-67FS$412,00076-6302 Kaheiau St16,717 sqft1,526 2/2.00

SOLD 4/21/2010 for $410,000 (CNV) DOM 343

210714RESS3883-7-5-42-100FS$399,00075-6152 Haku Mele Pl6,000 sqft1,680 4/3.00

SOLD 11/9/2009 for $385,000 (CNV) DOM 388

232444CNDS03-7-5-18-8-52FS$389,000Alii Cove #I41,815 #I4 3/3.00

SOLD 7/23/2010 for $380,000 (CASH) DOM 0

239239RESS333-7-6-27-42-2FS$385,000Terrace At Kona Vistas #216,601 sqft1,950 #2 3/2.00

SOLD 1/20/2011 for $385,000 (CNV) DOM 33

238117CNDS633-7-5-18-8-149FS$379,000Alii Cove #CC11,815 #CC1 3/3.00

SOLD 3/10/2011 for $380,000 (CASH) DOM 63

233506RESS53-7-6-20-19FS$369,00076-6291 Kupuna St7,506 sqft1,664 3/2.00

SOLD 7/17/2010 for $380,000 (CNV) DOM 5

217820RESS703-7-7-25-8FS$359,00077-6542 Hoolaupai St7,500 sqft1,092 3/2.00

SOLD 4/20/2009 for $339,000 (CNV) DOM 70

219868RESS53-7-3-53-5FS$349,00073-4157 Kaala Pl10,140 sqft1,226 3/2.00

SOLD 7/13/2009 for $333,000 (CASH) DOM 5

239633CNDS753-7-8-13-3-69FS$299,000Keauhou Kona Surf & Racquet Club #182921 #182 2/2.00

SOLD 9/13/2011 for $307,000 (CNV) DOM 75

222585RESS93-6-8-26-20FS$299,00068-3513 Malina St12,286 sqft1,500 3/2.00

SOLD 8/5/2009 for $310,000 (FHA) DOM 9

218719RESS593-7-6-25-35-2FS$299,00076-366 Kanaka St #35B5,115 sqft1,029 3/2.00

SOLD 4/2/2009 for $290,000 (CNV) DOM 59

238696RESS133-7-5-41-35FS$275,00075-6101 Kaanee Pl7,000 sqft1,146 3/2.00

SOLD 4/1/2011 for $275,000 (CASH) DOM 13

222214RESS993-6-8-18-25FS$262,00068-1752 Hooko St10,500 sqft1,400 3/2.00

SOLD 11/13/2009 for $260,000 (MISC) DOM 99

236937CNDS673-6-9-8-3-110FS$258,000Fairway Villas At Waikoloa Beach Resort #J21,033 #J2 2/2.00

SOLD 3/29/2011 for $268,000 (CNV, MISC, Other) DOM 67

224955RESS1313-7-6-19-62FS$249,99976-6187 Plumeria Rd8,760 sqft1,048 2/2.00

SOLD 4/9/2010 for $182,000 (CNV) DOM 131

225539RESS2813-6-8-7-41FS$249,00068-1946 Puu Nui St #1-B11,458 sqft1,296 3/2.00

SOLD 6/16/2010 for $253,000 (CNV) DOM 281

225430CNDS163-7-5-9-3-88FS$239,000Kona Pacific #D6221,194 #D622 2/3.00

SOLD 1/6/2010 for $250,000 (CNV) DOM 16

236935CNDS3003-7-5-19-44-45FS$220,000Kona Sea Ridge # I11,086 #I1 3/2.00

SOLD 8/16/2011 for $220,000 (CNV) DOM 300

224740CNDS433-7-5-9-3-38FS$219,000Kona Pacific #B412829 #B412 1/2.00

SOLD 2/18/2010 for $210,000 (CNV) DOM 43

219115CNDS493-7-5-21-7-67FS$219,000Alii Villas #223635 #223 1/1.00

SOLD 6/5/2009 for $195,000 (CASH) DOM 49

215115RESS2173-1-6-53-71FS$199,00016-1206 Moho Rd3.00 ac1,056 3/2.00

SOLD 4/29/2009 for $195,000 (FMHA) DOM 217

232216CNDS1073-7-5-20-73-198FS$175,000Alii Lani #X106966 #X106 3/2.00

SOLD 3/9/2011 for $155,000 (CASH) DOM 107

229688CNDS2103-7-8-10-33-45FS$169,000Keauhou Resort #75752 #75 1/1.00

SOLD 12/23/2010 for $163,500 (CASH) DOM 210

226940CNDS2513-7-5-20-73-347FS$159,000Alii Lani #NN104976 #NN104 3/2.00

SOLD 7/20/2010 for $163,000 (CASH) DOM 251

239597CNDS3663-7-5-20-73-247FS$139,000Alii Lani #CC203797 #CC203 2/2.00

SOLD 10/28/2011 for $140,000 (CNV) DOM 366

228592RESS1623-1-6-92-93FS$83,50016-2041 Lilikoi Dr12,000 sqft1,032 3/2.00

SOLD 4/21/2010 for $83,500 (CASH) DOM 162

218841CNDS1953-7-4-10-36-39LH$59,000Kona Kai #E7616 #E7 2/1.00

SOLD 7/17/2009 for $45,000 (CASH) DOM 195

221401CNDS3493-7-4-10-36-65LH$58,000Kona Kai #I10624 #I10 2/1.00

SOLD 9/29/2010 for $46,500 (CASH) DOM 349

This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed. Copyright ©11/19/2011

Do you ever wonder who is buying what, and with what? CASH? FHA? CONVENTIONAL? USDA? VA?

Well - I do, so I took a look at recent sales in Kailua Kona, Hawaii, just to see what the reports say.

You have to wonder, with all this bailout money going to the banks - there's got to be tons of buyer's - getting great loans - RIGHT?

THINK AGAIN - The bailout money is going to pay down the banks bad debts, pay off the bonuses, but they sure aren't loaning money like they should be. I can name several recent deals where the buyers had excellent credit - high 700s, low 800s, 30% cash down, and they were put through the wringer - 70, 80 + days to "close" - come on? I know the banks are doing lots of refi's, but thats not getting the economy moving? Dont get me wrong, I'm all for the refi's - but lets give loans to well deserving buyers also , ------- ok, ok, before I go on, let me put my facts where my mouth is.

I just pulled 1 month of recent sales - NOVEMBER 2011 - 49 sales

Out of the 49 sales

VA Loans = 1

USDA Loans = 1

FHA Loans = 1

Conventional Loans = 22

CASH = 24

Does this look right, do the numbers seem like they are distributed fairly?

Is this just the "New Economy" ?

I'll just let you "Think about it"

FYI - I looked at the exact same month 5 years ago

VA Loans = 0

USDA Loans = 0

FHA Loans = 0

Conventional Loans = 32

CASH = 7

Think about it