73-4366 Hulilau St., Kailua Kona, HI 96740 Live up to your expectations. Upscale 4 bedroom, 3.5 bathroom with elegant appointments throughout. Nestled on a terraced / gently sloping 1 acre lot to take advantage of panoramic / sweeping coastline views from Keahole Airport to Honokohau Harbor MLS #296866 Offered at $1,150,000 75-5905 Walua Road, Ste. 9 Kailua-Kona, HI 96740 Dayna V. Apilado RS-68070 895-6389 Perfectly Situated Condo has it All Gorgeous ocean & golf course frontage views from this two bedroom, two bath unit located in Keauhou area. Completely remodeled and comes turnkey furnished! Also includes an On-Demand hot water system. This is a vacation rental, so call today to schedule an appointment to see this beautiful unit. $489,950 BROKERS Linda Johnson R, GRI, SFR Specializing in You & Kona Real Estate Cell: 808.989.6155 pprrooppeerrttyy@@hhaawwaaiiii..rrrr..ccoomm •• wwwwww..pprrooppeerrttyyiinnkkoonnaa..ccoomm OPEN HOUSE Saturday Sept. 17, 10-1 Country Club Villas #105 12 West Hawaii Real Estate | September 14, 2016 Buoyed by a steadily improving labor market and strong demand for multifamily housing, commercial real estate activity should remain on an upward trajectory, with a growing share of it is expected to be in smaller markets, according to the National Association of Realtors quarterly commercial real estate forecast. National office vacancy rates are forecast by Realtors to fall 1.5 percent to 10.4 percent over the coming year as employment gains boost demand for office space. The vacancy rate for industrial space is expected to decline 0.7 percent to 8.7 percent, and retail availability to decrease 1.0 percent to 10.5 percent. Only vacancies in the multifamily sector are expected to edge higher over the next year, from 5.9 percent to 6.1 percent, as new apartment construction comes onto the market. Lawrence Yun, NAR chief economist, says the commercial real estate sector is on firm ground in spite of the numerous global and domestic headwinds that continue to keep U.S. economic growth in a headlock. “Ongoing overseas weakness and the slowdown in business investment despite historically low interest rates held second quarter growth at a tepid and disappointing pace,” he said. “Only steady job creation, solid consumer spending and residential construction – albeit not enough of it – kept the economy afloat during the first half of the year.” Adds Yun, “Tightening vacancy rates and rising rents are clear positive fundamentals, but commercial real estate property prices have been bid up too high and look to weaken in the upcoming months .” Strengthening local job markets has fueled sustained demand for commercial space and has pushed vacancy rates down in all commercial sectors. However, a growing concern from Realtors, who mostly have clients that rely on financing to secure deals, is that underwriting standards have stiffened in light of increased regulatory scrutiny. “Any further tightening in credit standards, which never fully normalized after the recession, would inflict the most pressure on the small and mid-sized businesses that mostly look to community banks and credit unions for commercial property financing,” adds Yun. “Not having the necessary access to capital could keep a lid on building and leasing activity and in turn keep the economy from getting closer to its long-term average of 3 percent growth.” With new construction outside of the multifamily sector taking a breather during the first half of the year, overall demand outpaced supply and suppressed inventory levels in many areas. This was evident in the latest Realtors Commercial Real Estate Market Survey, which measures quarterly activity from NAR’s commercial members. The survey revealed that inventory shortages are the number one concern for Realtors, which is in turn pushing price growth upward. Prices for commercial properties increased 5.3 percent in the second quarter compared to a year ago, with the average transaction cost at $1.4 million. “While inventory constraints and strong appreciation in apartment and retail properties pushed up prices in large commercial markets last quarter, overall sales volume was still down as investors looked for better deals Commercial real estate expansion foreseen “While inventory constraints and strong appreciation in apartment and retail properties pushed up prices in large commercial markets last quarter, overall sales volume was still down as investors looked for better deals and higher yields in smaller cities,” says Yun. “As a result, investments and leasing activity in middle-tier and smaller markets led the way and are expected to maintain their momentum in coming months.” and higher investments led in Given and the end approach in commercial larger markets.continue supply According to drive moderate added nudge “The slow-growth “However,and U.stable investment rates move
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