Kona Kohala Blog

One day you hear about a recovery then unemployment unexpectedly spikes or the bond market reacts negatively or the GDP isn't what it was supposed to be and we're back in the toilet.  So goes the economy, so goes West Hawaii real estate . . . totally unpredictable.

Sales activity was picking up but now are dropping off with the exception of condo sales in North Kona which are up this month by 27.27% over last April.  Median price, however, is still in a downward spiral as sellers look for the number pleasing to buyers who walk around kicking tires on the multitude of properties just sitting there waiting.

The median price for Single Family Residences in North Kona has dropped <25.39%>, condos down <7.99%> as we see the activity pick up in this one category.  In South Kohala both SFR's and condos are down <16.56%> and <29.02%> respectively.

All we're seeing are the buyers with money picking over the carcases of the foreclosure and short sale market.  As prices settle lower and lower on continued bad news more and more people step up and take the best of breed for a fraction of what they would have paid last year.  It's a great time to have some money put away and a secure job.

Speaking of jobs, why hasn't our administration begun looking into creating some through small business?  I know the government has expanded dramatically.  Just the number of people keeping obama in the air should have boosted the employment numbers but so far, not.  Do you realize how much money he's spending flying all over the world?  He just got back from his gazillionth trip to Europe, doesn't even stop at the White House for a change of clothes and he's off cross country to pitch his new jobs program . . . no wait, that's wrong.  He's off to pitch more control, this time of the financial sector.

You'd think the SEC with nearly a trillion dollar budget could take care of that without the president having to step in and offer more hands on control.  Has this guy ever been to the White House?  How about the capital?  Word has it he's got a really nice office without any corners where people could come to him.  People we tax payers are giving lots of money to, to be advisors. 

There is no recovery coming, at least not in the next 3 years.  We're going to see some change come November but until obama's back in Chicago with the rest of the thugs he's brought to Washington we won't be on any kind of path towards economic health.  Anyone have any idea how far in debt we've gone in the last year all because he feels the government should fix everything rather than letting entrepreneurs do it?  Reagan had it all worked out, a perfect blue print after the mess carter left us in.  It worked beautifully but instead of adopting that plan, obama has turned it 180 degrees and done just the opposite and look at the results, just the opposite of what we saw under Reagan.  Nope, no recovery during this reign folks, just more debt for future generations to work through.  I wish he'd read and understood the basis of Ayn Rand's book "Atlas Shrugged", maybe that would have made a difference.  Oh well, nothing wrong with starting over.