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May is a month of growth and celebration. As we head into the fifth month of the year, real estate a picking up a bit on the Big Island, but it's still pretty subdued. Sellers are in no hurry to move if it means taking on much higher interest rates, and because inventory is still low, prices have not fallen as much as you might have expected.
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Inside a Dreamy Oasis in Mexico That Was Once the Sanctuary of an Italian Duchess
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Escape the breezy tradewinds and sporadic showers of the islands to this meticulously designed Mexican oasis with a storied history.
Once the sanctuary of an Italian duchess, the sprawling abode was swooped up in 2014 by the producer and media entrepreneur Kevin Wendle, who transformed it into a chic, intimate Riviera Maya retreat where weary VIPs discreetly decamp to for a luxurious jolt of R&R.
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MAY DAY IS STILL LEI DAY IN HAWAII!
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Almost all schools have May Day programs, although many will be on days other than May 1. And the Hilo Lei Day Festival is scheduled from 10 am to 2 pm on May 1 at Kalakaua Park. Music, hula, lei contest!
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Cowboy movies, line dancing, parade, block party and more!
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west hawaii mediation center pau hana fundraiser and silent auction
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Lifestyle Tips and Tricks
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Ready to Remodel? Here Are The Home Projects That Will Get You The Best Return On Your Investment
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Even when they don’t buy a fixer-upper, most people will end up doing some amount of repairs on a new home. About 95% of homeowners said they plan to take on a major home improvement project in the next five years, according to a recent report by Real Estate Witch. However, only 50% said they can afford it at the moment.
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Backyards Are The Must-Have Home Feature for 2023
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A new report from Zillow names the backyard a must-have feature i the eyes of home-buyers.
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25 Top Interior Design Trends for 2023
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If you've been searching for the right opportunity to add more style, vigor and comfort to your space, you'll appreciate this list.
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For many buyers, that first home—the starter home—marks a turning point in their lives where they stop paying rent and start investing in a property that can help build generational wealth over time.
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It's been a while since I've included this section, but here goes!
An estimated 1.1 million–1.3 million people subscribed to the DVD service last year, generating $145.7 million in revenue for Netflix (not the worst biz). The first DVD Netflix ever sent was Beetlejuice in 1998.
The most frequently requested DVD was The Blind Side.
A new report from Redfin found that 30% of Gen Zers age 19–25 owned their own homes as of
last year—which is higher than the 27% of Gen Xers and 28% of millennials that did at the same
Stat: There are as many millionaires in New York City as there are people living in Anaheim, California. According to a report from investment migration firm Henley & Partners, the Big Apple is home to 340,000 millionaires and has retained its title of the wealthiest city in the world, boasting ~50,000 more millionaires than second-place Tokyo. The Bay Area has more billionaires than NYC, though, with 63 to NYC’s 58.
So you're getting a pretty clear idea of what I read first thing in the morning. This next, and last, one really surprised me. I keep on reading about how dire the commercial real estate market is, but it turns out that's only the office building sector, which I believe is about 19% of the entire sector. Instead, some parts are booming:
There’s a big-box space shortage: Vacancy rates for existing retail space hit 4.9% at the end of last year, which is the lowest rate since 2005, when commercial real estate firm CBRE started tracking it. This and the meager new construction since 2008 means there’s simply not enough space for companies like HomeGoods to chaotically display ceramic dog statues and gaudy throw pillows.
With large retail spaces in short supply, discount outlets like TJ Maxx, Nordstrom Rack, Five Below, and even budget gym Planet Fitness are plotting to snatch up old BB&B locations, some even before the last toaster is sold.
Bottom line: The BB&B closures are a welcome influx of space. According to Coresight, retailers opened more stores than they closed in 2022 for the first time since 2016.—MM
OK, that's enough of that. On to the market reports, with links this time!
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Thanks for reading! Ready to achieve your next real estate goal?
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Realtor Broker | RB-23241
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Compass is a licensed real estate broker and abides by Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.
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