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LUVA Real Estate Blog

As we enter the second full month of the stay-at-home order here in Hawaii, we continue to adapt to the changes happening around our local Big Island and Oahu community. At the same time that we are staying physically distant, we feel the need and have a desire to support the businesses that keep our local economy moving along.    

SHOP LOCALLY / Hawaii has a talented pool of local artisans and small-business owners who rely heavily on tourism to keep their businesses afloat. Our ohana at LUVA Real Estate recognizes the importance of small-businesses and feel that the locally made and carefully curated products that they sell are part of what makes our community unique. We don’t want to see them go away! Our agents are supporting our Hawaii economy by

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Amber is a native of New Smyrna Beach, Florida and attended Flagler College where she received a bachelor’s degree in business administration. After graduation, her travels took her further and further West. When she landed on Big Island in 2009, she knew she had found her home. For the first two years she lived on the East side of the island, before planting roots in West Hawaii. She is an avid nature lover and adventure seeker and has explored some of the most remote places on Big Island. She knows the island well and has a deep affinity for Hawaiian history and culture. Amber prides herself in building long lasting relationships and her involvement in the West Hawaii community is a testament to this. She has a natural ability to connect with others,

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We are all undoubtably spending a lot more time at home than usual during the mandated stay-at-home order. If you normally spend a lot of time outside of your house then the last month has probably been a bit different actually living at home. 

 With so much extra time at home, we are spending much more time in the kitchen, at our home computers, using more air conditioning (or heat depending on where you are), using more water, etc. All of these things use energy and are all contributing to your home’s energy consumption. With such an increase in energy consumption, you can expect your utility bills to jump over the next few months. My energy consumption is something I have always been concerned with and I am always trying to find new ways to reduce

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As we look at the Oahu market over the past month, real estate activity and numbers have been remained steady and comparable to 2019. In March, single-family home sales were up, while condo sales and new listings were down. With the stay at-home-order going into effect in Hawaii on March 23, by the end of the month most brokerages had adapted drastic measures to take their businesses virtual in order to keep the housing market moving forward. LUVA Broker Kimi Correa and her team on Oahu mentioned that they have been busy, and while some buyers that were newer to the market have pushed pause, they have had lots of buyers who are pushing forward with properties and buyers that have been in the market for a while who are seeing a potential opportunity,

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As with industries across the globe, the real estate market is experiencing a great deal of uncertainty and change. While experts agree that it is still too early to see the overall impacts that the pandemic will have on the housing market, on a local level we are beginning to see some signs of changes that are already taking place. Our Broker-in-Charge Sara Layne Pedro commented that “it’s a split between those wanting to push forward quickly and those wanting to push pause to see what happens.” LUVA Real Estate Agents are busy working from their homes to help clients who are ready to push forward and with 43 new listings in West Hawaii in the last 7 days and 16 properties going into escrow, the housing market is moving forward!west hawaii real estate market april 2020

March started out

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 Marty has been in real estate for 19 years, attaining his license in 2001 and his broker’s license in 2004. He joined LUVA Real Estate five years ago after spending seven years working as the Broker-in-Charge for a large brokerage on island. He has been a Big Island resident for 40 years and lived in the state of Hawaii for almost 50 years. Marty is an active member in the West Hawaii Realtor community and has served as a Director on the Association board.

Marty’s career began not in real estate but in the technology industry where he worked for 25 years as a software engineer. During his career in the tech industry he mostly worked as an independent contractor and would often teach software and computer courses at the University of Hawaii. Also, he

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As you may have guessed, our monthly guide to West Hawaii Events will look a little different this month. Here at LUVA Real Estate we felt that it is a a good time to share some of the virtual happenings that are keeping us connected and entertained during the COVID-19 pandemic. While we are being called to stay home and stay physically distanced, community connection is still as essential as ever! Here are a few of our favorite ways to keep busy and stay connected during this stay-at-home mandate.

computer on couch with blankets and pillow

Online Cooking Classes | Online cooking classes are popping up all over the world, no matter what cuisine you are inspired to cook, there is a cooking class available for you. Locally, Papa Kona Restaurant, has launched an online Facebook series

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Congress passed a $2 trillion COVID-19 economic relief package on March 27, 2020 with overwhelming bipartisan support. The bill contains numerous benefits for REALTORS® that NAR fought hard for during the past three weeks, including unemployment eligibility for the self-employed and independent contractors; unprecedented aid for small businesses; and a delay in business payroll tax payments.

As more guidance is released by the Administration to the real estate industry on how these new programs will be implemented, LUVA Real Estate will provide updates as possible. 

These provisions apply from January 30, 2020 to 120 days after enactment of this bill or the end of the national emergency.

STUDENT LOANS

Suspends all payment due on federal

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LUVA Real Estate has taken the recent pandemic of COVID-19 very seriously and have been working with our agents to create a plan that keeps our clients, our vendors and our agents as safe as possible. Here is what we are currently doing:

- We have increased the amount of virtual tours we are offering buyer clients. We often work with clients located on the mainland, so virtual tours are nothing new to us. Now, we are encouraging agents to rely on virtual tours as a way to “show” property to our on-island clients to avoid unnecessary physical interaction.

- Hosting virtual open houses by utilizing Matterport. Matterport is a great tool that allows people to virtually walk through properties, at their own pace, from the comfort of their own homes.

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As you know, there has been a flurry of economic upheaval affecting the economy recently. The good news in all of this for buyers is the drop in interest rates, which is giving home buyers more purchasing power and is great news for those of you who have been on the fence waiting for a market shift.

The first two months of 2020 have seen prices and sales with double digit increases year over year, according to statistics from Hawaii Information Services. In February, the median price for a single family home in North Kona was $770,000, an increase of 17.56% from $655,000 year over year. Single family homes sales jumped 19.44% from 36 homes sold in February 2019 to 43 in 2020. For condos in North Kona, sales were up 9.68% from 31 in 2019 to 34 in 2020.

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