HAwaii’s upscale REAL ESTATE Experts Robert Wilkinson, R(B) 808.987.6774 ROBERTWILKINSON@ELITEPACIFIC.COM ROBERT.ALLBIGISLANDPROPERTY.COM 27 YEARS OF EXPERIENCE 75-5905 WALUA RD., STE. 9 KAILUA-KONA, HI 96740 10-Acre Estate Holualoa Single level on 1.4 aces with Ocean views. All Koa interior, Guest quarters, 4 BR 3 Bath. Vintage Hawaiian home built in 1953. Great condition. 1,970 Sq.Ft. MLS# 601510 $729,000 keauhou estates SOLD Custom 4 Br 3. 5 Bath Ocean views Pool Spa, Hardwood floors, Spectacular architecture PV solar, smart house, 3 car garage. Built in 2012 Excellent condition 5-zone AC Must see! 3517 Sq. Ft. $ 1,688,000 Spectacular property with 3 separate Houses and unlimited Coastline views. Custom built with exceptional quality. 9500+ Sq.Ft. MLS# 294819 $4,295,000 iolANI Custom 4 Br 2.5 Bath Spectacular Ocean & Coastline views. Single level with pool and spa, Wood fl oors, PV Solar Perfect Tropical landscaping All wood flooring. African Mahogany accents. Excellent conditions inside and out! 2814 Sq. Ft. MLS# 298906 $1,529,000 kona nalu #105 Direct Ocean Front Luxury condo. 2 BR 2 Full Baths. Central air. Designer furnishings. End Unit! Absolute Ocean front. Beautiful! 1208 Sq. Ft .MLS# 601950 $748,888 Private ocean view gated estate with Pool. Beaut i ful usable pasture land. Guest quarters. Close to everything, yet very private. No CC&R’s. MLS #600254 Surf & Racquet 3-104 Absolute Ocean Front End unit. Ground level, remodeled top to bottom never a rental excellent move in condition! Must see! 2BR 2 Full Bath. MLS# 603892 $679,000 Kona By The Sea #312 Top floor, direct ocean front, 2-BR 2-full bath. Beautifully updated and fully furnished. Elevator, covered parking, must see! 1296 Sq Ft. MLS# 602456 $635,950 Kona By The Sea #308 Fantastic Ocean Front upper floor beautifully updated with amazing views 2BR 2 Bath 1296 Sq.Ft. Central AC, Elevator, Covered parking MLS #296216 $619,000 KEAUHOU ESTATES Value pr iced 3 BR 2Bath S i n g l e l e v e l O c e a n v iew home. Located in prestigious Keauhou Estates Subdivision. Built in 2006 2312 Sq.Ft. MLS# 600769 $839,000 Hokulia Spectacular custom 4 BR 5 Bath Over 9000 sq feet under roof. Pool and Spa 1 + Acre Superb fi nishes with Ocean views. Single Level with Guest suites. MLS# 604085 $5,999,000 Holualoa Development 4.6 acres with 4 separate lots. 1 existing home and huge ocean views. 3 BR 3 Bath gated and private with 800 Coffee trees. Excellent opportunity. MLS# 602682 $1,399,000 4-Acre Estate $1,749,950 IN ESCROW West Hawaii Real Estate | March 15, 2017 13 Pending home sales weaken in January Insufficient supply levels led to a lull in contract activity in the Midwest and West, which dragged down pending home sales in January to their lowest level in a year, according to the National Association of Realtors. The Pending home sales index, a forward-looking indicator based on contract signings, decreased 2.8 percent to 106.4 in January from an upwardly revised 109.5 in December 2016. Although last month’s index reading is 0.4 percent above last January, it is the lowest since then. Lawrence Yun, NAR chief economist, says home shoppers in January faced numerous obstacles in their quest to buy a home. “The significant shortage of listings last month along with deteriorating affordability as the result of higher home prices and mortgage rates kept many would-be buyers at bay,” he said. “Buyer traffic is easily outpacing seller traffic in several metro areas and is why homes are selling at a much faster rate than a year ago. Most notably in the West, it’s not uncommon to see a home come off the market within a month.” According to Yun, interest in buying a home is the highest it has been since the Great Recession. Households are feeling more confident about their financial situation, job growth is strong in most of the country and the stock market has seen record gains in recent months. While these factors bode favorably for increased sales in coming months, buyers are dealing with challenging supply shortages that continue to run up prices in many areas. “January’s accelerated price appreciation is concerning because it’s over double the pace of income growth and mortgage rates are up considerably from six months ago,” said Yun. “Especially in the most expensive markets, prospective buyers will feel this squeeze to their budget and will likely have to come up with additional savings or compromise on home size or location.” Existing-home sales are forecast to be around 5.57 million this year, an increase of 2.2 percent from 2016 (5.45 million). The national median existing-home price this year is expected to increase around 4 percent. In 2016, existing sales increased 3.8 percent and prices rose 5.1 percent. “Sales got off to a fantastic start in January, but last month’s retreat in contract signings indicates that activity will likely be choppy in coming months as buyers compete for the meager number of listings in their price range,” added Yun. The PHSI in the Northeast rose 2.3 percent to 98.7 in January, and is now 3.6 percent above a year ago. In the Midwest the index fell 5.0 percent to 99.5 in January, and is now 3.8 percent lower than January 2016. Pending home sales in the South inched higher (0.4 percent) to an index of 122.5 in January and are now 2.0 percent above last January. The index in the West dropped 9.8 percent in January to 94.6, and is now 0.4 percent lower than a year ago. “Buyer traffic is easily outpacing seller traffic in several metro areas and is why homes are selling at a much faster rate than a year ago. Most notably in the West, it’s not uncommon to see a home come off the market within a month.” – Lawrence Yun, NAR Chief Economist
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