Kauai Real Estate, Hanalei Vacation Rental Owner Troubles, National Real Estate Update

Kauai Real Estate SOLD and NEW listings Island Wide! Add comments

Kauai Real Estate Update  

For the latest information on everything that Sold, went into Escrow and the properties that were Just Listed on the island of Kauai for last week click here: Kauai Real Estate March 18 to 24, 2019

Poipu Beach Real Estate Update- If the Grand Hyatt Poipu was a house….Last week I was invited to attend an event at the Wall Street Journal 2018 Home of the Year located in Kukui’ula, Poipu Beach.  The views were impossible to capture but I’ll tell you it felt like Poipu Beach was sitting at my feet.  This property is on 1.5 acres of land and that was one of my favorite parts: large expanses of grassy lawn area with no neighbors in site.  Stike that…my favorite part was the closet.  It was the closet of my dreams and I got a video of it!!!
Get caught up on the Poipu Beach real estate here: Poipu Beach Real Estate Current Market Analysis

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Just Listed! Kiahuna Plantation unit #324 a 1 bed. 1 bath corner unit located in building 39. Tiled floors with carpeting in the master bedroom, completely turn-key. Priced right at $130,000 (LH). Click on photos for details.

Kiahuna Plantation Real Estate- I Just Listed…Kiahuna Plantation #324, a ground floor 1 Bed. 1 Bth. with a corner location that is ideal to catching the prevailing trade winds.  This unit is within easy walking distance to the shopping center, on site restaurant and the beach that the Kiahuna is on.  Priced at $130,000 (LH).  Call me for more information and click here to get updated on all things Kiahuna: Kiahuna Plantation Current Market Analysis.

High Profile Hanalei Property Owner Has Vacation Rental Troubles
The Kauai Planning Department filed a civil complaint again a corporation registered to the owner of Oakley Sunglasses for allegedly operating an illegal vacation rental.  The planning department has been watching this property for the last two years after the owner filed a late application for his rental but continued to operate anyways despite repeated warnings from the County.

And they are just getting warmed up.  The Planning Department has stated that they have new technology to go after the estimated 800 to 1,200 illegal vacation rentals on Kauai.

Information For Buyers/Sellers Negotiation Part II
Last week we left off at the question: How do you find and trust a person to represent you when their livelihood depends on commissions earned?  This was the exact spot my husband and I were at in 1992 when we first started looking at Kauai Real Estate.  This is how we found our agent:
I asked each agent a couple of questions that I already knew the answers to.  From 1992 to 1998 I spoke to half a dozen agents and would ask them 1) Do you think prices will go lower?  2) We come back every six months; can we wait until then to buy?

The market during that time was on a downward trend, I was following it closely. Yet every agent I spoke to said no waycould prices go down and for surethey wouldn’t wait another six months.  I knew that answer was wrong yet every agent said that…..except one that we spoke to in 1996.  He said that while he couldn’t ever predict 100% on prices he thought we would be just fine waiting another 6 months.  This Realtor was already working for us and he wasn’t thinking of just himself and we walked out the door, but we didn’t forget how direct and honest he was.  Rather than tell us something he knew was not true, and risk us walking out the door, he was honest.  So we went back to him in 1998 and bought our condo.  Several years later we sold it through him and bought another unit, which was a listing of his.

He proved himself to be a Realtor that worked for our best interests, he was honest, his paperwork was always in order and things were always done correctly with Zero Drama and No Excuses.

I hadn’t had a good opinion of Realtors before him but that’s on me, I hadn’t done research or asked any questions before I started working with the first agent we used in California.  But I only made that mistake one time.

National Real Estate Sales
The Feds met last week and they decided to leave the Rates at 2.50%. Also issued was their outlook on the housing market and they forecasted slower US growth and inflation for this year and also stated that there will be no more rate hikes for 2019, this impacted the financial markets favorably.

Nationally the housing market had good news:  February 2019 brought 5.51 million in sales and a national median sales price of $249,500.  There is 3.5 months of inventory, 6 months is considered a balanced market for both Buyers and Sellers.  The 5.51 million in sales is way up over the last 5 months.
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