Market Stats November 2023

The Year-To-Date Market Stats for residential and land sales on the Hamakua Coast continues to stall with the addition of November’s stats. There ARE plenty of buyers, primarily from the mainland, but also from our state, yet the number of properties available for purchase are few and far between. Interest rates continue to play a part in this scenario, as sellers are hesitant to commit to a higher rate for a new home. So, we continue in a unique situation of being in a very strong seller’s market, with minimal choices for buyers, many of whom have cash for their purchase. But, sellers do have options:

  1. Sell and then rent until interest rates adjust.
  2. Sell and rent back for six to twelve months.
  3. Sell, then purchase with the intent to re-finance when interest rates adjust.
  4. Sell and move in with the kids!!!

For sellers, here are my suggestions for positioning their properties to sell at peak prices:

  1. Price your property correctly, using current comps plus adjustments for unique features such as a waterfall, spectacular ocean view, new build, mature orchards, easy access, etc.
  2. Prepare your property to make a great first impression. Flip to Page 3 for Curb Appeal On The Hamakua? Clean out the clutter. Freshen up the paint where needed. Look at your yard from a buyer’s perspective.
  3. Consider a PMM – Purchase Money Mortgage whereby you are the bank. This pulls in buyers who don’t want to work with a lending institution, and you make interest that is higher than what a bank or credit union offers.

Feel free to contact me for a complimentary
Current Market Analysis related to your specific property and location!

Big Island Market Update November 2024

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Jen McGeehan, RS-80881

JEN MCGEEHAN, RS-80881
Phone: 808.747.2365
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I am an adventurer by heart, never letting too much dust settle under my feet. My latest adventure began in 2018, successfully merging over 46 years of varied work and life experience into a real estate career that focuses on the goals and dreams of my clients. Now, as a top 5% Coldwell Banker Realtor®, and two-time recipient of the coveted International President’s Circle award, I am so grateful I took that leap of faith!

LIVING THE HAWAII LIFESTYLE is living the dream! How can I help you purchase (or sell) a little slice of our heaven?

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