ranking real estate

Trying to Exchange property for property is no easy task, but in a downward trending market such as the current market we are in, it is another way to move your property.

There are many reasons to consider exchanging property.

1) Potential Tax benefits (check with your CPA or Tax Attorney)
2) Another alternative to a cash sale in tight credit market
3) move from non-income producing to income producing.
4) etc.

An Exchange is not for everybody as there are many considerations, but with a little research and discussions with your Real Estate Broker and CPA you should be able to figure out if exchanging your property is a good alternative to a cash sale.

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Over the past few years on the Big Island the raw land market has taken quite a hit.

For the 1st half of 2009 raw land transactions have dropped Island wide by 32.08%. We had 664 transactions at this time in 2008 and only 451 in 2009. Median pricing for the Island has dropped 30.23% from 2008 to 2009.

A variety of reasons have contributed to the decline in land transactions and subsequently land values. The obvious is the lack of funding. Lending standards have become extemely tight in the construction and land loan markets. Loan To Value requirements have risen along with Underwriting standards. Along with job losses, the collapse of the stock market, 401K, IRA’s, etc. Most people do not have the savings necessary to fund these sort of purchases.

Residential lending has tightened, but Lender’s are far more willing to invest in an existing home then to contribute to adding more inventory to the market.

This all leads back to the title of this Post “Raw Land has the potential for value on the Big Island”. With the scarcity of money in the market those with cash will be in dominating positions to move on “raw land”. With an ever shrinking pool of Buyer’s and an increasing need for Seller’s to liquidate non-income generating properties there will continue to be the potential for “value” purchases in the market.

There is a lot of inventory on the market at this time. Not all properties are the same, but with good research and a lot of data, there are opportunities

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I just linked www.rankingrealestate.com to my linkedin account. now I really have starting to come up with interesting things to say.

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Hilo to Kona and back to Hilo. Looked at homes from Kona Palisades to Keauhou. What stands out about the Single Family Home market there is that… If you are willing to sift through the glut of inventory there are definitely interesting properties on the market.

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Big Island Median home prices are down YOY according to statistics from Hawaii Information Services (MLS for the Big Island and Kauai).

As an Island, Hawaii Residential Median Home Prices fell 25.85% YOY from $379,053 in 2008 to $281,050 in 2009.

Puna down 21.79% to a Median price of $179,875 (based on 198 transactions)
South Hilo down 24.41% to Median price of $256,250 (based on 70 transactions)
North Hilo up 18.73% to Median price of $444,000 (based on 5 transactions)
Hamakua down 22.50% to Median price of $310,000 (based on 10 transactions)
North Kohala up 43.70% to Median price $970,000 (based on 10 transactions)
South Kohala down 20.30% to Median price of $394,500 (based on 72 transactions)
North Kona down 20.84% to Median price of $435,000 (based on 119 transactions)
South Kona down 36.32% to Median price of $320,000 (based on 12 transactions)
Kau down 23.80% to Median price of $151,250 (based on 30 transactions)

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See

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My first blog post for my new real estate journal. I wonder if the professional bloggers find it easy with that first initial post? How do you define your blog? Do you need to define your blog? Do you just continue to write and hope that someone is reading? Do I want people to read this? (of course I do otherwise why put it online?).

Probably the thoughts of many…

What do I want this to be?

I want this site to catalog my day to day thoughts and activities as I navigate through the world of Real Estate. I have only recently become the Broker in Charge of a family business that spans three generations and as the market changes and the business changes so to must an Agency adapt.

If all you are looking for a sales pitch on my newest listing then you can stop reading now. I am sure that properties that I have for sale will be included in various posts, but I want to chronicle more then that, I want to follow the daily ins and outs of trying to run a business.

So with that said… here we go.

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