NATIONAL HOUSING REPORT
November 30th, 2006The Office of Federal Housing Oversight’s third quarter report is out. Home prices appreciated at the slowest price in almost a decade in the third quarter, an annualized rate of only 3.45%.
NATIONAL ECONOMIC AND HOUSING UPDATE
November 29th, 2006Third quarter GDP, the broadest gauge of economic activity, was revised upward to 2.2% today from the initial estimate of 1.6%. That is unambiguously good news for the US economy. New Home sales in October fell but prices jumped in comparison to September. That may well indicate that the record drop in prices in September was an anomaly. Fed Chairman Bernanke spoke encouragingly about the next several quarters though the tight labor market is of concern.
HUMPBACKS HAVE HUMAN BRAIN CELLS?
November 27th, 2006Of course, we here on Maui cherish our humpback whales and look forward to their annual migration. They are majestic creature and display behaviors that even naturalists struggle to explain. Could this be part of the reason?
FASCINATING OCEANFRONT OPPORTUNITY IN OLAWALU
November 27th, 2006Located just north of the Chez Paul restaurant, sixteen agriculturally zoned acres are on the market. For more information, click on Current Lisitngs above. What is possible? Contact us.
OUTGOING MAYOR VETOES AFFORDABLE HOUSING BILL
November 25th, 2006THE MAUI OCEANFRONT WAVE RESUMES!
November 24th, 2006Two Maui oceanfront properties went into escrow recently. An apartment zoned beachfront lot on Kapu St. in Kihei had been on the market for almost five months and listed for $2.85 million. One of the premier oceanfront properties in all of Hawaii, a 1.69 acre estate with a 4800 square foot home on it, all behind a lovely stone wall in Makena, lasted only a few days before going into escrow. The asking price was $20 million. New listings include 1544 Halama Street in Kihei, a well kept 3000 square foot home listed for $4.95 million and one of the few homes on Maalea Harbor, 990 square feet for $2.8 million!
THE SEASON BEGINS!
November 24th, 2006Over the past week in Maui the activity level has really accelerated. An oceanfront estate in Makena listed for $20 million has gone into escrow after less than two weeks on the market, as have a $7 million dollar listing in Wailea Highlands, and a $4.95 million condominium in Wailea Point. Kai Malu units have had their initial eleven closings this week. Thirteen Kihei and Wailea properties have gone into escrow in the past seven days. We are also seeing the beginnings of current owners of Maui properties listing properties for sale in the present selling season.
HAPPY THANKSGIVING!
November 22nd, 2006Tom, Sean and Dan would like to thank you all for your business this past year and to wish you and yours the Happiest of Thanksgivings. We’ll be back when we have recovered from our excessive turkey consumption.
WORST OVER FOR U.S. HOUSING?
November 21st, 2006According to a Wall Street Journal survey of forty nine economists, the worst of the housing downturn is over. The article is here.
MAUI OCEANFRONT REAL ESTATE UPDATE
November 16th, 2006459 Front Street in Lahaina has closed for $3.775 million. This home is small at 1140 square feet but sits on a very large 16,000 square foot lot. Oceanfront inventory across Maui County stands at 69 properties, with approximately 25 of those being vacant lots. Several new listings have appeared in the last week. 7640 Makena Road, a spectacular retreat in Makena has been listed for $6.495 million, 1433 Front Street in Lahaina, an older home, is asking $2.9 million and 263 Kalua Koi Road on Molokai, a beachfront lot of almost six acres is listed for $2.5 million.
