What's the RE market doing these days?

[Amrita]

quote:

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Originally posted by Oneself

OLE = Old Leilani Estates ?

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No Orchid Land Estates

[Guest]

Thats where I am renting when I first arrive.

[opihikao]

FYI: Updated Statistics - (*Snipped more at link)

Real estate sales are increasing in the Puna district and decreasing in South Hilo for the first quarter of 2014. That’s according to a recent press release issued by the Hussey Appraisal Group Hawaii Inc., which collected the data from Hawaii Information Systems.

The statistics show residential sales in Puna increased by 27.5 percent in the first three months of 2014 when compared with sales during the same period last year, and the number of vacant land purchases in the district rose 46.1 percent during that same time period.

The increase in activity pushed Puna home prices up 21.2 percent and prices for vacant land remained unchanged, with parcels in the district averaging $20,000 each. The South Hilo residential housing market, by contrast, saw a 14.8 percent drop in the number of homes sold in the first quarter of 2014, while the number of vacant land sales remained mostly unchanged.

Susan E. Lee Loy, president of Hawaii Island Realtors, said overall, the market is “stabilizing.” “There’s stabilization going on. In 2013 in South Hilo, it was still fluctuating and trying to straighten out from years previous. What we’re basically seeing is sign of stabilization,” she said. Lee Loy also said the drop in the number of homes sold in South Hilo from the same quarter last year is not significant. “For first quarter 2013, there were 54 homes sold. In 2014, we have 46. That’s only eight less than the last quarter,” she said.

Stewart Hussey, president of Hussey Appraisal Group, agreed the real estate market is improving. “There’s more light at the end of the tunnel. Definitely the market is getting stronger,” he said. “Most of the charts about the Big Island show we reached the bottom and are experiencing a general movement upward in volume and price levels.”

See more at: http://hawaiitribune-herald.com/news/loc...fR9ZH.dpuf

[Bullwinkle]

I read from the stats almost twice as many are building than buying used ... land still cheap (ish)

backs up what Im seeing in the hood

bulldozers, bulldozing and the rat tat tat of septic being jack hammered .....

1 repo still empty - 3 new going in within a mile or so