July 1st, 2008 admin
This letter along with a copy of Residence International Magazine was distributed to over 800 of our clients and friends earlier this summer.
From the desk of:
Putman D. (Putty) Clark, R - President and Principal Broker
Clark Realty Corporation
Aloha,
The summer issue of Residence International Magazine brings with it several exceptional properties here in the Islands and elsewhere. Because of your interest in Hawaii real estate, we are taking this opportunity to provide a brief Big Island market update. For more detailed information, please give us a call.
While controversy in the lending, banking, and securities markets dominates the news, it is worth noting the following:
- During the first quarter of 2008, each successive month produced an ever-larger number of properties going into escrow. Historically low interest rates, modest price decreases and a superior selection of properties may partially explain the increased sales.
- We are seeing a resurgence of foreign buyers, especially from Canada. With most foreign currencies now worth 20% to 30% more than in 2005, the resulting currency exchange “bargains” are approaching irresistible levels as people from other countries visit the Islands.
- In the first three months of 2008, requests for information and showing appointments from our website (www.clarkhawaii.com) have surged by more than 70%. Last year, we responded to over 1,000 specific inquiries.
- The most egregious mortgage lending practices have been halted. With new lending standards in place along with new guidelines and expanded limits for FHA loans, quality loans are more available than ever.
- Major infrastructure projects are underway which will provide relief for Big Island residents, especially commuters. In addition, several new commercial developments are nearing completion which will provide new jobs and an increased demand for housing.
- Finally, Hilo is continuing to see its University of Hawaii campus expand, and a new permanent West Hawaii campus is taking root on land just north and mauka of the Airport.
Clearly, we face challenges in the year ahead. However, the facts listed above suggest that the impact of the national economy should be substantially moderated here in the islands, providing enticing opportunities for serious investors and first time buyers throughout 2008. In the meantime, if you see a property you like, the old adage, “buy low, sell high,” still applies. We encourage you to contact us as the year progresses to stay abreast of current market trends.
Sincerely,
Putman D. Clark
President and Principal Broker
Posted in Corporate, Economy/Market | Comments »
June 30th, 2008 admin
The ReStore, operated in Kona by Habitat for Humanity – West Hawaii, opened in September 2007 and sells new and gently used building materials, home improvement products and furniture, all at deeply discounted prices! The inventory is constantly changing, with products generously donated from contractors, building supply houses, developers, businesses and the community in general. The Habitat ReStore will also accept your qualified donations, which are tax deductible, and pickup of large items can be arranged. All proceeds from the ReStore are used to fund the home building projects of Habitat – West Hawaii. The ReStore has been a resounding success since opening last fall, and offers quality products at discounted prices while keeping reusable items out of the landfill. Since their inventory changes frequently, it’s fun to check and see what’s new each week!
The ReStore is located at 73-5576 Kauhola Street in the Kaloko Industrial Park near Costco, and they are open Monday to Friday from 10 a.m. to 4 p.m., as well as the 2nd Saturday of every month, 8 a.m. - noon.
Please visit their website for additional information and a map to the ReStore location, or call 808-331-8010.
www.habitatwesthawaii.org
Article contributed by Cindy Whittemore, R(S), ABR
Clark Realty Corporation Keauhou Office
Posted in Community | Comments »
June 26th, 2008 admin
Our annual photo contest has once again produced some amazing photos of our beautiful Big Island. Winners have been selected and you can preview them at http://www.clarkhawaii.com/slideshow/.
Prints of the winning photos are being readied now and will be displayed in Clark Realty offices in Kona, Keauhou, Waimea and Hilo until next year at this time. We hope you enjoy them!
Posted in Photo Contest | Comments »
June 18th, 2008 admin
Pukana St. Home in Hilo, HI
Good news! There really are successes in the current real estate market. The following story will give you insight into what can happen with a well-priced, well-staged home in Hilo today.
We met with our prospect who wished to sell her Hilo home early in April, 2008. As we discussed price, she asked what she could do to make her home more saleable in the current market. Our first task was to create a prioritized “To-Do” list. She had already completely painted the interior and exterior of the house, removed old red carpeting and installed laminate floors in the living area and new carpet in the bedrooms. She agreed to replace rusty interior lighting fixtures, old cracked sinks in the bathrooms, old mirrors, old window coverings and to plant the front exterior area with colorful flowers.
Once our seller was finished with home improvements, the house looked great and most objections from potential buyers had been removed. We listed the house at a price consistent with recent sales on May 13, 2008.
We held an open house on May 18. Over 30 people came! We received 5 offers on the house by Tuesday. The house sold for over asking price and escrow was opened on Wednesday.
Obviously, there are still many buyers wishing to purchase a home on the Big Island. The key is having a seller willing to put their home in good condition before it is listed and to list at a price consistent with today’s market. Overpricing in today’s market just does not work.
Listors: Linda West, R, GRI and Christine Makaweo, R
Article contributed by Linda West, R, GRI
Clark Realty Corporation Hilo Office
Posted in Sales | Comments »
June 12th, 2008 admin
DAYNA ODA-KELL, R(S)
Clark Realty Corporation Hilo Office
“I am writing this letter after recently closing a property using Dayna Oda-Kell as my Realtor. I have dealt with many realtors over the years and this was some of the best service I have ever had. Dayna was helpful, always returned calls and went out of her way to be helpful. I have told many friends of my experience and I think one will soon be buying property through Dayna. Please give her our compliments and know that with agents like her you will be successful.”
Bob Stere
Oregon
Posted in Agent Spotlight, Corporate | Comments »
