Judy's July Newsletter

Judy's July Newsletter

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Happy July!

 

The Parker Ranch Rodeo and Horse Races are back! This is, by far, my favorite rodeo, and the horse races are SOOO exciting!

Local Happenings

Hawaii Performing Arts Festival Summer Season

 

 

Runs through July 24th, and includes opera, concerts, theater camps, and more! Click here for more information.

 

 

Kona Mele music video

 

Free, from 4 - 8 pm on July3 at the Makaeo Pavilion, Old Kona Airport. Contact [email protected] for more information

Red White and Brew, Pukulani Stables, Waimea, 

July 3, 4-7 p.m. For more information

Oban Dance and Festival

 

Honoka'a Hongwanji, July 16. Free admission. Call 775-7232

Kokua Kailua Village Stroll in Downtown Kona July 17. For more information 

West Hawaii County Band 

 

Free concert 

4-5 pm July 22, Hale Halawai, 75-5760 Alii Drive. [email protected]

Volcano Festival 

 

Hilo Orchid Society show and sale

 

July 29-31, Edith Kanakaole Stadium, Hilo. Hours are 9-6 on the 29th, 9-5 on the 30th, and 10-2 on Sunday, July 31 Tickets for adults are $5, kids free. More information

 

July giveaway

A box of delicious shortbread cookies from Big Island Candies to the first three people who get back to me with their mailing addresses. If you haven't tried these, you really should!

 

Local businesses

Big Island Tea

 

Eliah and Cam have succeeded in making the most divine tea imaginable! And they're having a tea-making workshop in August! Learn more

Kona Stories

 

I love to read, and I always try to order my books through this independent book seller. Support local! More information

Honoka'a People's Theater

 

Check out their schedule here: 

 

Lifestyle Tips & Tricks

 
Slate Blue Doors bring higher sale price!

 

Zillow may not be great at valuing homes, but they have an excellent research department. They found that while black doors brought the highest boost in buyer opinions of value, not everyone liked them. Slate blue was more popular and brought higher valuations, compared to many other colors. Colors to avoid: pale pink and concrete gray!

 

 
 

Did you know?

* Where are all the pilots? About 33% of the airline-qualified pilots in the U.S. are age 51 - 59. 13% of the US’s airline pilots will reach retirement age within 5 years. While many pilots retired in the past 2 years, many also were lured into the private aviation field.....when one pilot transports just 6 people instead of 60, you do the math! 

 

 

* If $2.2 million is the new net worth for you to be considered 'wealthy', to achieve this you should invest $12,861/month for 10 years to reach $2.2 million, $4,335/month for 20 years, $1,881/month for 30 years, $890 each month for 40 years and $437/month for 50 years. (CNBC) 

 

* The reality is that on average most Americans leave their parents home around the age of 19 years old ....and live to be around 79 years old on average. That equates to a need for housing/shelter for SIXTY years - not 30 - about DOUBLE of what many commonly perceive. That's a huge mistake. (Yes, 60 is the new 30 in more ways than just age! 😉)

 

The average US renter pays about $1,325/month, much more in larger towns and cities. That $1,325/month escalating at a 2% inflation rate over 60 years equals over $1.8 MILLION paid in rent.....to a landlord. That 'rent money' paid to a bank - instead of a landlord - is a payment that builds equity and ownership. The mortgage interest tax deduction is one of the very few substantive deductions most people have. While every buyer wishes to time markets perfectly - and yes markets and home prices do go up and down - focusing more on the long term may deliver much, much larger savings ....and gains.

 

* As of 2011, no single investor in the U.S. owned more than 1,000 homes. Just five companies own a collective 280,637 homes as of October 2021, adding 76,325 homes to their portfolios between March 2018 and October 2021.

- Invitation Homes: 83,512

- Progress Residential: 71,930

- American Homes for Rent: 56,077

- FirstKey Homes: 35,899

- Amherst Residential: 33,219

 

When/if institutional investors stop buying single family homes, we could see a spike in more affordable home options for first time home buyers.....

 

Affordable Housing

Affordable Housing in Hawaii County

 

 

We have a huge problem here with affordable housing. A new County law allocates revenue from a surcharge on expensive second homes to an affordable housing fund. That is expected to generate about $5M in the fiscal year starting July 1.

 

 

 

 

 

 

 

 

 

The County Council recently passed a bill that would allow the administration more flexibility in how those funds were used to promote affordable housing. For instance, the funds could be used to acquire distressed properties, and make them habitable, or as grants for essentials like roof repairs to keep people in their homes. 

 

The Mayor vetoed it! Go figure!

 

 

 

Affordable Housing in LA County

 

 

The Los Angeles city council last week unanimously approved returning a proposal to increase the transfer-tax rate on the sale of LA residential and commercial properties of $5 - $10 million to 4%, while those valued at $10 million or more would be charged a 5.5% rate, both up from the current 0.45% rate. The money would go toward new housing units and services like down-payment assistance and eviction prevention.

Are 3D printed homes part of the solution?

 

The first community of 3D printed, recycled plastic homes' will be built in California. 

 

Featured Listing

28-241 Stable Camp Road
Honomu
3 Bed | 2.5 Bath

Close to Hilo and tucked away in a quiet and friendly neighborhood! View the livestream open house on July 9th from 11AM-1PM! Go to the link on the listing to register, or call me for more information.

Market Reports

The market here is definitely shifting. There are more price drops, and properties are sitting on the market a little longer. Nothing dramatic, but noticeable. Here are the latest stats:

 

 

Just for fun!

If you'd like to drool a bit, take a look at these luxury properties!