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April 2019

Found 4 blog entries for April 2019.

Did you know that there are some important changes taking place starting on May 1st to the purchase agreement contract for the state of Hawaii?

There are some small changes that make it easier to understand the contract for the buyers and sellers, but there are a few that are important to bring attention to such as when the seller is leasing solar panels, the buyer needs to be aware that they need approval to transfer the lease from the photovoltaic provider. Left unnoticed, that could cause a huge headache during escrow!

These are just a few of the issues that have come up over the last few years when the Hawaii Association of Realtors last updated the purchase agreement. The agreement is used in all transactions when a Realtor is involved and is

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Home Buyer and Seller Trends 2019Can you imagine within ten years that new homebuyers won’t be looking at homes on golf courses, nor will they be here in Hawaii buying a second home?

According to Paul H. Brewbaker, Principal of TZ Economics, a Hawaii economics consultant who gave a thought provoking presentation to local Realtors this past week, it will happen, thanks to the homebuying habits of the Millenials, who will be in their mid to late forties in 2029, prime wage earning years when people start considering real estate investments. According to Brewbecker, Millennials don’t play golf. (Although they would gladly put on a GoPro and take off on a golf cart adventure!) Why would they spend the extra money in order to live on a golf course? So, how will that impact the value of

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The West Hawaii housing market is showing ups and downs in sales prices, but with an overall drop of sales year over year in both the single family and condo market.

LUVA Real Estate agents are generally happy to see that there is more inventory on the market, so buyers have more to choose from than in the recent past. For North Kona, the median sales price is $669,500 a 14.17 price decrease from the median price last year at this time of $780,000 according to statistics from the Hawaii Information Service. Past West Hawaii Association of Realtors President, Lance Owens, stated that the $780k amount could have been posted as a result of a few multi-million dollar sales, as the median price was not that high at this time last year across the board

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The Short Term Vacation Rental issue is still winding its way to final completion and on the day it was set to go into effect, April 1, 2019, the county was still working to create the final rules. LUVA Real Estate agents have attended recent meetings on this issue, so we are up to date with the latest information for potential investors and also for our homeowner clients.

Not sure what the new ordinance is or why the County decided to curtail the proliferation of short term rentals on Hawaii Island? The West Hawaii Association of Realtors put together a quick guide to the issue.

The latest aspect of the ordinance is the drafting of Rule 23, (download and read here) which is was still getting a few tweaks as of last week. The Planning Department,

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