Standard NL Heading 2.3.22

~ Aloha & Welcome ~

I hope this email finds you and your loved ones well.

My February newsletter contains statistics on January 2022 home sales and other real estate news and resources. I share a palette painting of Kona Town by local artist Kira Kamamalu. You can find info here about volunteer opportunities at AdvoCATS and the Greenwell Ethnobotanical Garden. Finally, this newsletter contains a guide for composting organic waste for a more beautiful garden.

The Big Island real estate market remains extraordinarily competitive with low inventory and high demand. Desirable homes are often under contract in a matter of days. Multiple-offer scenarios and all-cash offers are common. There's no doubt it's a great time to sell if you're in the market. If you or someone you know is thinking of making a change in real estate, please get in touch.

I don't want to send you emails you don't want to receive. If you'd rather not receive this monthly newsletter please unsubscribe below.

Sending Aloha your way. Have a wonderful February!

Lisa

"K Town" by local artist Kira Kamamalu

Screen Shot 2022-02-07 at 10.15.21 AM
Kira Kamamalu is a local artist known for her classical style and Polynesian subject matter. She's talented in multiple mediums and teaches others about art and Hawaiian crafts. Find her at House of Kamamalu.

~ Real Estate & Related News ~

  • Annual Existing Home Sales Hit Highest Mark Since 2006. Lawrence Yun, NAR's chief economist says that while December 2021 saw sales retreat, this is more a sign of supply constraints than an indication of weakened demand for housing. Sales for 2021 finished strong, reaching the highest annual level since 2006. Yun forecasts existing-home sales to slow slightly in the coming months due to higher mortgage rates but notes that recent employment gains and stricter underwriting standards ensure home sales are in no danger of crashing. He forecasts rates will remain below 4% by year-end and that wages will hold firm due to a tight labor market.
  • Pending Home Sales Slip as Buyers Face All-Time Low Inventory. Contract signings declined again in December 2021, with a 4% monthly drop as buyers faced an all-time lowest inventory of unsold homes. Pending home sales were 7% below year-ago levels, with both monthly and yearly declines seen nationwide. At the close of 2021 housing remained unseasonably competitive as buyers bid for a smaller number of available properties. December’s inventory was 27% below that of the prior year. In addition, with winter holidays and colder weather encouraging people to take a break, many homeowners postponed listing their homes, leading to further declines in new listings and pushing prices 10% above December 2020.
  • Rents Surged by 10% in December 2021. Nationwide rent growth hit 19% year-over-year for 0-2 bedrooms properties and the median asking rent reached $1,781. It’s the sixth consecutive month with double-digit growth and is over six times as fast as the growth rate seen just before the pandemic hit in March 2020.
  • 40k open building permits set to expire in Hawaii county. More than 40,000 open building permits, some dating back 40 years, will be declared null and void if permit holders don’t act soon as the County continues its transition to an online permit system. Nancy Cook Lauer / West Hawaii Today / February 1, 2022
  • Hawaii Tourism Officials Seeking Mindful and Respectful Travelers. Gov. David Ige’s administration has requested tens of millions of dollars in state funding to help reshape the way visitors view Hawaii in hopes that more thoughtful tourists will boost resident sentiment about tourism. Hawaii Tourism Authority president and chief executive, John DeFries, said the overarching purpose of the campaign is to reshape the popular perception that Hawaii is merely the “Playground of the Pacific” and instead send the message that Hawaii is a unique place with a fragile ecosystem, rich culture, and a multi-ethnic population bound together by the aloha spirit.
  • Conforming loan limits increase in 2022. Fannie Mae and Freddie Mac conforming loan limits for Hawaii will be $970,800 for single family homes in 2022. The FHA loan limit ceiling for single-family properties increased to $747,500 on Oahu, $828,000 on Maui, $845,250 on Kauai, $477,250 on Hawaii Island and $828,000 in Kalawao County. Stephanie Salmons / Pacific Business News / December 17, 2021

Kailua-Kona Home Sales - JAN 2022

The Big Island real estate market remains extremely competitive. Check out recent home sales...

Read more
Congratulations on Buying or Selling Your Hawaii Home!

Prepare Your Home for a Great First Impression

Some basic ways you can prepare your home for sale...

Read more
This home has HUGE potential — You can see it right now!

Search for Homes Using My App! Click Here

Screen Shot 2022-02-03 at 11.21.27 AM

~ Other News and Information ~

Volunteer at AdvoCATS!

Untitled (700 × 788 px) (1000 × 788 px)
AdvoCATS, Inc. is an all-volunteer organization dedicated to the well-being of Hawaii Island's homeless cat population. They support the Trap-Neuter-Return program. You can help by fostering and adopting. Due to the COVID crisis they're in special need of food and supplies.

Volunteer at the Greenwell Ethnobotanical Garden

Screen Shot 2022-02-03 at 1.05.02 PM
The Amy B. H. Greenwell Ethnobotanical Garden supports Hawaiian cultural traditions of land use and plants and conserves the plant resources of traditional Hawaiian cultural activities. Join other volunteers for garden work and fun Saturday mornings from 9:00-12:30.

Composting on the Big Island

Use organic waste to enrich your soil with vital nutrients for a more beautiful garden …

Read more
Composting on the Big Island

Wishing you a lovely February in paradise!

state of grace
Hawaii is not a state of mind, but a state of grace.
- Paul Theroux

Contact Me

Lisa Kramer REALTOR

Need an estimate of your home's value? Want the scoop on available properties? I'm here to help!
McGarvey Thank You

Check out my website and blog

at biggerisland.com

This newsletter is not intended to solicit currently listed properties.
eastman cons