Kauai Real Estate, Kauai and Coronavirus Update, Pili Mai Sold One Day On Market

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

Kauai Real Estate Update
First of all I truly hope that you and your family are healthy.  My husband and I are doing well, no signs of contacting the virus. I’d also like to thank all of you that reached out to offer your condolences after I posted that my sister-in-law passed away, a sincere thank you.  For a complete list of everything that Sold, was Just Listed or went in Escrow this last week on the island of Kauai click here: Kauai Real Estate March 16 to 22, 2020

Poipu Beach Real Estate Activity- Yesterday I sold Pili Mai 10C for the full list price of $995,000, this was a cash offer.  This unit was on the market for less than 24 hours before we had 3 offers.  I utilized my social media and network of local agents before we were listed to tee this up and we got our buyer!  This is the Moana floor plan located in building 10 which was the first building to be built, my Seller bought this unit when the whole area was just dirt.  If I can help you find a unit in this complex, or any other in the Poipu area please contact me.
For all the Poipu Beach Fee Simple action since January 1 of this year click here: Poipu Beach Real Estate Current Market Analysis

Kiahuna Plantation Real Estate Activity- My Kiahuna Plantation page has been updated to include all the real estate activity since January 1 of this year, click here for access:  Kiahuna Plantation Real Estate Current Market Analysis.

Kauai Coronavirus Update
I’ll give you the Kauai Boots On The Ground news which is still changing, depending on when you read this some of this might not be relevant.

Number of Cases on Kauai: 4, of those 3 are tourists.

Kauai Curfew:  We have to stay in our homes from 9 p.m. to 5 a.m. unless we are seeking medical help or going to work.  You can be fined if your out during those hours or jailed.  The Governor of Hawaii issued a Shelter In Place order that takes effect March 25 at 12:01.  We can only go out during the day for medical treatment, food, if you work in an essential industry etc.  The full order is here:  Governors Covid-19 Proclamation  

Costco: No toilet paper, no Kleenex, no paper towels, no napkins.  Sometimes there will be long lines and they are letting people in 100 at a time.  This last Sunday we were able to walk right in and there was plenty of food.

Beaches & Parks: All are closed.

Restaurants: Take out only, that started just last week.

Medical: I had a routine appointment at Wilcox and it was empty.  At this time they are fine with their medical supplies, number of beds etc.

Tourism: The pause button has been hit on this.  Governor Ige issued a 14 day quarantine for anyone, tourist or resident, coming into our state starting this Thursday.  It does not apply to anyone already here or to interisland travel.  Hawaiian Airlines is stopping all mainland flights on Thursday.

Real Estate:  We are having some cancellations with current escrows.  No Open Houses, no caravans and there is a protocol we follow when we have showings or inspections.

Should you take your property off the market:  100% up to you based on if you want people in your home or condo.  I don’t think you will get hurt taking it off the market as long as you put it back on right when this starts to turn around.  Your agent will be able to advise you on that.

Keeping you property on the market: the upside of this is think of all the people that are at home now on their computer.  Now more than ever eyes are on the internet, they might not be buying right now but they sure are looking.  If you are worried about days on market don’t be, if you take your property off the market it will still show up as being listed before.  The higher days on market will be a common denominator on all properties.
I had two showings at a listing of mine on Sunday, both of the buyers were doing 1031 exchanges and they have to buy something or they will lose their tax exemption.

There is no right or wrong answer to keeping your place on the market, it should be based solely on your comfort level.

Fed’s Lowered The Rate To Zero, Why Are Rate High?
A couple of weeks ago you could lock in a home loan at 2.8% and after the rate cut it’s over 4%.  What is happening?  I saw a Facebook posting from a trusted loan Valerie Harjo of Guardian Lending, she is the type of professional I strive to work with.  She truly cares about what is in the best interest of her clients, she picks up her phone on the weekends and keeps ahead of her loan timelines.

I asked her if I could repost so here is her posting in it’s entirety:
Friends…the recent move by the feds does not mean interest rates are zero as well..in fact, mortgage rates have been increasing over this past week and are now pushing the high 4’s. Why is this? The volatility of the stock market, the uncertainty of the economic future is worrying the mortgage industry. Those that were in the industry and impacted by the 2008 Mortgage Crises will remember. Today banks are working hard to NOT have that happen again. We are already seeing non-conventional lenders not be able to fund their loans. Larger and stronger banks, like mine are fine and will be able to get through this. Please do not panic. Focus on your health and family safety. If you are not locked in yet, while I have NO crystal ball and am not at all predicting this uncertain future, you can continue to float until this plays out. Lenders are processing and working to close your loans. Buyers and sellers, I know this is hard now for you. Keep looking at homes, carefully and thoughts of selling are still valid. My realtor partners, feel free to call me anytime!! Virtual hugs to you all!

Her company also put out an incredible video that explains why it’s not advantages right now to refinance, with her permission here it is:

Why The Rate Is So High And Why They Don’t Want You To Refi

If you have any questions please direct them to Valerie.  I have found her to be informative and never pushy, my favorite kind of people!

Valerie Harjo| Loan Officer
NMLS 418675 | CO NMLS 1850
6381 B Puupilo #2 Kapaa, HI 96746
C: 808-353-1751 | E: 971-407-4759
valerieharjo@grlpdx.com | GRLPDX.COM

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