Articles
November 2005 Newsletter
by Bill Jardine Nov 12, 2005
November has roared into town with strong trade winds rattling screen doors and shaking the twigs and dead leaves right out of the trees. Our skies are absolutely beautiful as bright clouds sail by in the bending light. Jacket collars and scarves are everywhere as rosy-cheeked neighbors greet each other in town and grin with eyes that sparkle like cider and cinnamon. The season of joy and thankfulness is breaking like a wave of happiness over the community. It has been a year of plenty, and soon tables will groan under the weight of Thanksgiving feasts.
This year has seen an extraordinary run-up in real estate prices as we have been predicting for so long. Those of you who have bought Waimea real estate have seen their property values swell beyond their wildest dreams as the average Joe and Mary shake their heads and wonder where it will all end. It won’t end, of course, because the real demand by the Baby Boomers has just begun to get underway.
Please note that there are some very good buying opportunities coming up as the real estate cycle shifts from “drive” into neutral. Prices will flatten as speculators move into the stock market and out of condominiums and houses. Already we are seeing properties taking longer to sell and many price reductions as wishful pricing meets the reality of slackening demand. Interest rates, while they have been rising lately, will not rise much more than they have, and they are still very low. That means that the cost of owning will remain attractive even while prices soften.
We are encouraged to see so many young families moving into town to partake in the joys of small town country life, great schools and wonderful medical facilities. Even better, we are heartened to see more multi-generational homes, where families are owning real estate together to stay together. We think that the multi-generational home is one sure way to mend our often ripped and torn social fabric.
As more families begin to realize that they will need to help their children return, we see a jump in interest for rental properties. Owning a rental house is one good way to help your kids get a start on their own while protecting your estate, so we will be soon featuring various properties that have great potential as rental houses. Stay tuned.
The hunters are in the field, the fisherman are finding a golden bounty of mahimahi as the whales gradually reappear after the long summer. We are stacking firewood once more and giving thanks for our beautiful community, our wonderful friends and the fine people we have been given to raise and love.
Imua!
William N. Jardine
