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.

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