Archive for September 2016

Kona Coffee Living History Farm’s Open House   Leave a comment

Big Island EventsDon’t miss great food, fun activities and entertainment at the Kona Coffee Living History Farm Open House this Saturday, Oct. 1. The celebration honors Kona’s heritage and the theme is “Made In Kona”. Products made in Kona that will be featured include coffee, produce, baked goods, crafts and music. In addition to traditional foods and local music, there will weaving, gardening, Japanese calligraphy, and more. Read more here…

Kona Coffee Living History Farm
Captain Cook, HI

October 1, 2016 from 10 AM – 2 PM

Article courtesy of KonaWeb.com

Image courtesy of Jennifer/Flickr.com

Karen E. Bail, REALTOR (B), CIPS, TRC, ePro
Elite Pacific Properties
Call: 808-936-4640
kebail@aloha.net
www.karenbail.com

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Hawai’i Island Festival of Birds   Leave a comment

Big Island EventsCelebrate the first annual Hawai’i Island Festival of Birds, Sept 24-25, 2016. “The event is a program of PATH-Peoples Advocacy for Trails in Hawaii and will signal the official opening of the Hawai’i Island Coast to Coast Birding Trail.” This is a great opportunity to explore the diversity of birdlife and habitats of Hawai’i. Read more here…

Article courtesy of HawaiiBirdingTrails.com

Image courtesy of Ludovic Hirlimann/Wikimedia Commons

September 24-25, 2016
Various Kailua-Kona locations

Karen E. Bail, REALTOR (B), CIPS, TRC, ePro
Elite Pacific Properties
Call: 808-936-4640
kebail@aloha.net
www.karenbail.com

Puako for Buyers   Leave a comment

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Aloha.  It is starting off to be another beautiful week in Hawaii with the return of the cool stirrings of the Tradewinds.   Clear skies, fresh air…..Hawaii!

The time has never been better to be a buyer for Puako property.  While much of the Island’s most desirable areas have limited inventory, there has never been more properties for sale in Puako in my entire career (selling here since 1989).   By clicking on this market report covering sales over the last 3-months (wait…what sales?!?) you can see that there are 17 homes* and lots for sale with three properties in escrow

The last quarter of 2015 and early first quarter of 2016 saw fourteen properties come to market.  All but four are still on the market. Two of the three in escrow were listed then, all priced at the lower end of the price range.  (Two of the three are our Elite Pacific Properties listings) Two sold although one that sold was actually on the market nearly two years priced 17% higher, then given a “rest” from Multiple Listing Service, a refreshing practice to make it appear as a new listing. Understand the buyer had looked at it earlier and made the offer soon after the price was reduced. The best Puako value, Puako #80, was listed only a few weeks ago and in escrow within days because of its location, charm and excellent pricing.  Word on the streets is it was purchased by one of its regular vacation rental guests.  The other oceanfront home in escrow has been in escrow for months but is another example of a well-priced, well located property considered to be a good value given its extra-large, deep set lot with a classic beach house.   The lot next door to this home, another great value is still for sale, click here to see.  Although there have not been any sales over the last 3-months, there was total of 8-sales between August of 2015 and March of this year.  You can see what sold by clicking here for that report.

At least three of the oceanfront properties on the market have been trying to sell for literally years.  We can suspect that this is mostly due to their prices.  I have shown them to several clients who felt their perception of value was not equal to the sellers perception of value.   Limited inventory in the past gave sellers the luxury of pricing to meet their needs.  Add to that that sellers are not always educated as to how the differences between homes affects their values. Puako is a community without CC&Rs which is very attractive to most of those who call Puako home.  This leads to a mixed basket of homes; from rustic beach cottages to grand oceanfront estates.  It is difficult to determine values since we really have to compare mangoes to bananas.  Harder still for a seller to price to sell if he doesn’t understand how these differences affect their value in the marketplace of today.  That is the job we agents have to do!  But right now, my job is to educate you so you make the right choice as a buyer.  Having all these choices now at this time of year makes it an awesome time for us to find your perfect Puako home.  Or if not Puako, we will find you one somewhere else on this beautiful Island!

Give me a call or shoot me an email and let’s jump on this opportunity now.

 

*Puako Kai is 2-CPR homes on one lot listed separately (2X) and together (1X).  It has been on the market 18-months, listed with three different Brokerages. Now at 20% off the original list price of $2,350,000.

Waimea Paniolo Parade   Leave a comment

Big Island EventsSee paniolo and pau riders, princesses on horseback with attendees, the Royal Court, local hula halau and more at the Waimea Paniolo Parade this Saturday. There will be a craft show with island foods, games, arts & crafts, live music and Hawaiian products following the parade. Read more here…

The Parade will start at “Church Row” and proceeds to Waimea Park.

September 17, 2016 at 10 AM

Article courtesy of KonaWeb.com

Image courtesy of Gabi L/Flickr.com

Karen E. Bail, REALTOR (B), CIPS, TRC, ePro
Elite Pacific Properties
Call: 808-936-4640
kebail@aloha.net
www.karenbail.com

100 Who Care Alliance growing on the Big Island   Leave a comment

We have a 100 Women Who care Group in Waimea on the Big Island for North and South Kohala. Women come from Waikoloa, Waimea, Hawi, Honoka’a and beyond or between. We meet at Paniolo Country Inn Restaurant 4- Saturdays a YEAR!! Each participant comes prepared to write a check for $100 (works out to $33/month) to the non-profit presented at the meeting who garners the most votes. Three members per meeting present their favorite non-profit and then a vote is taken, Each presentation is limited to 5 minutes or so, we are in and out of there in 1-hour. Please join us at our next meeting at 2:00 on Saturday, October 22nd. Last meeting the Waimea Emergency Food Pantry was the winner and the 20-women in attendance gave them a $2000 donation. Would love to grow to 100 women or more…just think how much good could happen. Would be cool to see Kona women step up and form a group. You be amazed at what sort of non-profits are out there that need donations, Maybe you have one you would like to see benefit; come join us and see how you can help your favorite group.
http://100whocarealliance.org/

Building Without a Permit can be very expensive   Leave a comment

Lots of people want to avoid the hassle of the permitting process, thinking it will save them time and money.  Every day we Realtors see the costly aftermath of this when the banks won’t loan…

Source: Building Without a Permit can be very expensive

Building Without a Permit can be very expensive   Leave a comment

Lots of people want to avoid the hassle of the permitting process, thinking it will save them time and money.  Every day we Realtors see the costly aftermath of this when the banks won’t loan on homes with unpermitted additions or lacking final permits….My Grandmother had a saying “Penney wise, pound foolish”  You might save a few dollars in the beginning, but if you ever want to sell your home, after the fact permitting can cost you a lot!  My friend Alan Van Zee at Hawaii Mortgage said I could share his article about the implications of building without a permit in today’s lending climate, thanks again Alan for these very wise words!

Building Without a Permit

The percentage of single family homes for sale that have unpermitted improvements is staggering.  As lending regulations have tightened over the past 8 years, sellers and homeowners are learning the harsh reality of not playing by the rules.

 

It really makes no sense to do work without a permit.  While permits may take some time getting through the building department, the cost for one is relatively low.  I’ll just be bold and say – If you proceed with building anything without a required permit, you are dumb.

 

Sorry to be harsh, but what time and money you may save going the “cheap and dirty” route, will not only cause problems for you in any future financing, but you may never really reap the reward of added value.

 

Appraisers have a tough job when valuing a home with unpermitted improvements.  No matter how nice, an enclosed lanai or transformed garage can never be counted in the calculations of living space square footage.  That could change your 3 bedroom 2 bath home into a 2-1.  The value placed on living space is significantly higher than non-living space.  If someone is trying to buy your listed home for sale, the appraisal may not support the sales price.  SO unless the buyer is putting a substantial amount down, it could cause the transaction to collapse.

 

While this phenomenon of unpermitted improvements occurs on every island, what’s up with Maui and Hawaii Island?  The incidence of unpermitted improvements is almost like a contagion.  Recently I had a client wishing to buy a beautiful ranch property on Maui for $1,300,000.  The owner/seller constructed a 1,700 square-foot shed/barn/garage on the property without a permit.  Why?  The permit was not that expensive.  They obviously had a contractor build it, as it was not some piece of junk.  Now the seller has to go and obtain an after-the-fact building permit.  Not only does it slow down the transaction process, it could derail it if the county comes back and doesn’t approve what was built.  If you are selling something valued at almost 1½ million dollars, are you nuts to think you can build an illegal structure larger than many people’s home, and it won’t cause any problems?  Maybe the thought of selling was not on their radar when they built it.  But selling or not, here’s a fact – rarely does a property stay in one’s family without the need for financing.

 

I get the idea that you may work in the trade and have friends that can help on the side, but get a permit.  Maybe you don’t want to get a permit because certain specialty areas need a licensed contractor to perform that work?  For the specialty areas like electrical and plumbing, get a licensed contractor to do the work.  If I were buying a home and found that someone other than a licensed contractor did the electrical or plumbing, it would not sit well with me.  After all, what could happen?  The place flood or go up in flames?

 

The bottom line is that lending and unpermitted improvements don’t mix.  If you want to see your “investment” reap the greatest reward from the time, money, and effort you put into a renovation or expansion, do it right, and get it permitted.”

for-blogReprinted courtesy of Alan Van Zee, Hawaii Mortgage Company, Phone: 808.988.6622