Kauai Real Estate News and Views Newsletter

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Kauai Real Estate News and Views ~

January, 2012

2011 Stats....Pretty Darn Flat and Sleepy

On first glance, the 2011 sales figures are slightly encouraging....modest gains in condo sales and sales volume up about 16% islandwide.  But if you take a closer look at the numbers, you'll find that 2011 was almost exactly level with 2010.
There are a few 2011 statistics worth mentioning (all figures compared to 2010 numbers):
   1) Sales for single family homes under $300,000 rose 41%
   2) Condo sales under $300,000 rose 28%
   3) Waimea District (west side) is the only part of the island showing a higher percentage in number of single family home sales...up 66% (from 18 to 30)
   4) Due to a higher number of foreclosure and short sales, the Lihue and Kapaa Districts show the largest drop is sales dollar volume (34 and 19% respectively).
All in all, if you take out the three large sales from the north shore (totaling $45.5 million), the numbers for 2011 are stagnant, or even slightly down from 2010. We have to always keep in mind that because the number of sales on Kauai is relatively small, our statistics move rapidly, up and down, with a very small number of transactions. But I think the evidence is clear - 2011 was a year that saw us levelling out from the steep drops of the previous 4 years.  There were some great deals to be had if you were a buyer and it was not a year to sell unless you had to.

OCEAN SCENES FROM AROUND THE ISLAND

Whatzup for 2012??

So, what's in store for us in 2012? Will we continue to bounce around at the bottom or will we begin to see real gains in value? No one has a crystal ball but my prediction is that 2012 will be a year of modest increases. There will still be some fantastic foreclosure and short sale deals but I believe they will be a smaller percentage of the market than they were in 2011.
And I'm not alone. According to the IMI (Improving Markets Index), the list of improving markets nationwide nearly doubled this month. And Clear Capital, an asset evaluation and risk assessment provider, states that 2012 is expected to play out much like the last half of 2011. Minimal declines in the beginning of the year turn to modest gains by year end. With mortgage interest rates still at all time lows, it is still a great time to buy.

HAPPY NEW YEAR EVERYONE!

McCartney Propeties
4-976 Kuhio Hwy.
Kapaa, HI 96746
808-635-6095
darcy.mccartney@gmail.com
http://www.mccartneyproperties.net

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Archives:

January 2011 Newsletter
Take a look at the real estate sales statistics from the past year via information and a graph. You can also compare these statistics to the past 10 years performance - interesting data.

February 2011 Newsletter
It's all about banking this month. Plus an interview with a local mortgage broker about the current lack of credit available. Are the banks going to step up any time soon? Find out here...

March 2011 Newsletter
Sales statistics for the first two months of the year and some examples of those super "deals" everyone is talking about.

April 2011 Newsletter
Some condominium statistics for 2011 plus some good information regarding credit scores...including a link to get a free copy of your current FICO scores.

May 2011 Newsletter
New legislation. Will it help or hurt the struggling real estate industry? Find out more....

June 2011 Newsletter
Some smokin' hot deals to check out along with a review of sales statistics for the year.

July 2011 Newsletter
Foreclosures down in June...could it be because of the new foreclosure law, Act 48? Great condo deals.

Aug/Sept 2011 Newsletter
Noted Hawaii economist, Paul Brewbaker, gives his take on the Hawaii/Kauai market and what to expect in the future. Always an interesting and accurate assessment.

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