ranking real estate

Waipio

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created a slide show for Yamanaka Enterprises Inc., but I couldn’t get it to load.

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Source of data is from Hawaii Information Systems. 3rd Quarter 2009 Stats as of 10/2/2009

YOY – Residential Sales  for the Entire Island rose 25.27% from 273 (2008) to 342 (2009)

Increase in Residential Sales by District:

Puna sales rose 23.23% from 99 sales (2008) to 122 Sales (2009)
Kau sales rose 108.33% from 12 sales (2008) to 25 sales (2009)
South Kona sales rose 25% from 8 sales (2008) to 10 sales (2009)
North Kona sales rose 67.44% from 43 sales (2008) to 72 sales (2009)
South Kohala sales rose 13.33% from 45 sales (2008) to 51 sales (2009)
North Kohala sales rose 150% from 4 sales (2008) to 10 sales (2009)

Decrease in Residential Sales by District:

South Hilo sales decreased 11.11% from 54 sales (2008) to 48 sales (2009)
North Hilo sales decreased 66.67% from 3 sales (2008) to 1 sales (2009)
Hamakua sales decreased 40% from 5 sales (2008) to 3 sales (2009)

YOY – Residential Median Price for the Entire Island was down 18.75% from $320,000 (2008) to $260,000 (2009)

Increase in Median Sales Price by District:

North Hilo median price rose by 204.49% from $156,000 (2008) to $475,000 (2009)
South Kona median price rose by 20.58% from $311,000 (2008) to $375,000 (2009)

Decrease in Median Sales Price by District:

Puna median price decreased by 19.35% from $215,000 (2008) to $173,400 (2009)
South Hilo median price decreased by 13.78% from $333,450 (2008) to $287,500 (2009)
Hamakua median price decreased by 60.00% from $400,000 (2008) to $160,000 (2009)
North Kohala median price decreased by 30.77% from $827,000 (2008) to $572,550 (2009)
South Kohala median price decreased by 19.33% from $445,000 (2008) to $359,000 (2009)
North Kona median price decreased by 24.41% from $549,000 (2008) to $415,000 (2009)
Kau median price decreased by 34.50% from $229,000 (2008) to $150,000 (2009)

* all increases and decreases need to take into account overall activity. less actual sales will allows for dramatic shifts in percentage of increase/decrease in data.

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some market data to look at from Zillow on 96720 zipcode (Hilo, HI)

Kamehameha Ave., Hilo HI 96720

© Zillow, Inc., 2009. Use is subject to Terms of Use.
See Hilo Home Values at Zillow.com

Median Condo Value

Median Home Value

Dollars Per Square Feet

Zillow Home Value Index Distribution

Home Type

Owners vs. Renters

Home Size in Square Feet

Year Built

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So now you have a blog on Active Rain or you Tweet all your listings (cough, cough) and you have 20,000 Followers. Does that improve your business?

What does all this connectivity provide? Should I create a fan page for my Company on Facebook? I am already interconnected to 3,000,000 people on LinkedIn. Every time I write a blog post, a blast goes out on Twitter and it posts on LinkedIn… I’m keeping Facebook to my self. I have millions (well maybe hundreds) of people getting some glimpse of my job, my profession and me, but what does that really equate to in dollars and sense? Will it ever equate to anything in dollars and sense?

Is it possible that the concept of social media as it equates to real quantifiable dollars for some industries just… hope? I mean if I have some Twitter special for Happy Hour, I can see that being of value, as a customer might be moved by that Tweet to visit your establishment for some libations and to get a cheap drink, but I do not see anybody dropping their IPhone to write a contract when I drop a listing $10K, but its still gonna cost you $120K for a house. Maybe this is short sighted, but I don’t see the masses looking for real estate advice on Twitter, maybe on a blog… but who chooses their Agent based on a blog post?

Any comments? I do not see the top earners in my market taking the time to write a blog post… So I guess the question remains does Social Media help your Real Estate Business or is it just the HOPE that it will someday help?

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Zillow Home Value Index for the past 10 years of the following Metro Areas – Honolulu, Las Vegas, Los Angeles and San Francisco.

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What is going on with the Hilo residential market? From June to August we have seen the year to date number of sales continue to drop, but at a slower rate, while the actual year to date median home price has shown a slight uptick.

June YTD – Sales Activity <17.65%> Median Home Price $256,250
July YTD – Sales Activity <14.42%> Median Home Price $257,500
August YTD – Sales Activity <16.39%> Median Home Price $263,750

Summer months tend to be months with higher activity and the added sales will always have an effect on the overall median price. While it is far to early to call a bottom in price drops, it is interesting to see a 3 month period in which median prices did not fall sharply.

The next 3 month period leading up to December should be extremely interesting to see how the Hilo market reacts. Will we begin to see any effects from job cuts by the State, as well as the constant talk of a foreclosure wave due to Alt-A loans coming due, as well as the effect/non-effect of Government Stimulus money on our local economy and will our jobless rate continue to hover around 10%?

Some of these questions should be answered over the next few months…

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Round and round we go. The first time I’ve been able to get on my laptop since last Thursday. Pleasure and Play in Vegas and a lot of posts to write, but no time now. For now, I am in Orange County and have only a few minutes.

Quick thoughts…

1) The Mandarin Hotel on the Strip is amazing. It is something different… more Wynn then Bellagio.
2) Planet Hollywood selling Fractionals… That really makes sense and I wonder if we will start to see a lot more Fractional properties on the Strip. It really makes sense.
3) A lot of Vacancy in the Commercial market, although it looks more like a Tenant issue rather then anything such as location or property condition. If one Anchor goes, so does the rest of the property, especially in this market. I could be wrong, but really there seemed to be no reason why some properties seemed healthy and vibrant while other’s were virtual ghost towns.
4) There is a lot of activity in the Residential market, especailly in the Under $200k range.

So much more to comment on, but I am in the OC now and its been awhile since I’ve been here. Will be meeting with a few acquaintances over the next few days… very excited to see what might be happening here…

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