Aloha Alex,

Below are a list of a few properties sold this year and one set to close escrow. There is not too much activity in there at this time, however, by pricing and marketing your property properly it can happen. I hope this is helpful.

My name is Patrick Lambert. I specialize in the Ka'u area and if I can help you any further please call my direct line at 808-937-1188. Visit my webpate http://www.patrickjlambert.com for more info on me and what I can do for you.

MLS # Tp St Taxkey Tnr Price Land Area Location Lv.Area Bd/Ba
208650 Residential C 3-9-9-3-4 Fee simple $225,000 11,200 sqft 99-259 Painiu Pl 968 2/1.5

MLS # Tp St Taxkey Tnr Price Land Area Location Lv.Area Bd/Ba
208515 Residential S 3-9-9-9-78 Fee simple $299,000 11,487 sqft 99-7723 Kalehua Pl 1,690 3/2
SOLD: 7/25/2008 for $299,000 (CNV) DOM 98

MLS # Tp St Taxkey Tnr Price Land Area Location v.Area Bd/Ba
196071 Residential S 3-9-9-2-27 Fee simple $359,000 17,859 sqft 99-193 1,190 2/2
SOLD: 1/25/2008 for $339,000 (CNV) DOM 190

MLS # Tp St Taxkey Tnr Price Land Area Location Lv.Area Bd/Ba
208372 Residential S 3-9-9-7-10 Fee simple $559,600 12,857 sqft 99-1808 Uluhe Way 2,382 3/3
SOLD: 7/31/2008 for $510,000 (CNV) DOM 112

This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.

Aloha, Alex... My first question to you would be why are you interested in selling right now? This is one of the worst environments for Sellers, with declining prices and too much competition giving downward price pressure - if you can afford to hang onto your property for the next 3-5 years, that would be my recommendation. If you are facing a financial crisis, or need to sell to get out from under a crushing mortgage, your list price will most likely depend on how long you have to wait until you must sell. Based purely on the numbers, this is what I see: There have been 5 sales of comparable sized lots and homes to your house (in TMK 3-1-1) since June, 2008, from $45k to $162k. Right now there are 11 "comparable" houses for sale from $69k to $210k. If the current trend continues, we could expect to sell through these houses in the next six months. Thus, if you need to sell yesterday (immediately) I recommend a list price under $50k. If you can wait three-six months, list from $50-$75k, if you can wait six months or more, list somewhere over $75k but under $162k, and at that point determining the "correct" price will depend on the condition of the house. You say it needs "a lot" of work, so you could expect your highest price point to be somewhere from $75-100k, in order to give buyers an incentive to purchase your home needing work, over those competitors that need less maintenance to bring it up to today's living standards.

Alex, we work as a team at Lava Rock Realty, LLC, representing buyers and sellers all over the Big Island. We do not allow Dual Agency (which most of our sellers appreciate as they're typically paying the commissions) and we have an incredible marketing program that sells our listings. So far this year we've sold 65% listings,
(representing 35% buyers) which means we know how to sell our listings in this market environment. I would be happy to share all of these things with you in further detail and answer any other questions you may have - please contact me directly at: katie@lavarockrealty.com, or 808-887-2500. Best of luck to you and warmest aloha. It Takes Courage to Live on a Rock! Katie Minkus, R(B).