2007 Kona Real Estate Update2007 Kona real estate UPDATE First of all, I'm not a real estate agent, I’m just a guy that reads the Sunday paper on a regular basis and talks to a lot of people every day. Seems in the last year the housing market here in Kona has cooled. My friend Ron Ford who is a realtor said there are about 400 condos on the market as of June. Foreclosures are starting to be a regular occurrence. Prices have leveled from what I can tell from reading the paper the last year, maybe even dropped a little. But not much. In my day job fixing cars I talk with a lot of people and the general tone around here is nothing is selling, except for commercial property. One of my clients told me in June that his house has been on the market since February and lots of people have looked at it but no offers. He lives in the Iolani subdivision, these are million dollar homes on average. This guy is a retired realtor so I'd think he knows how to prep the place to sell. Just my guess but I think a lot of people are waiting to see if housing prices will continue to drop. I don't see that happening on the big island though. Reasons being the baby boomers are nearing retirement and a lot of them are going to want to live some place warm in their later years.
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