April 14th, 2008
David Berson, USA Today’s Economist of the Year, at PMI has released his latest research piece on the national housing market. Here are some key snippets and how they relate to Maui real estate.
Our models indicate that the decline in house prices is only about one-third to one-half over, due primarily to the magnitude of the supply/demand imbalance in the housing market. This assumes that the current neconomic downturn is both short and modest, and that the disarray in financial markets ends soon…The key reason for these national price declines is the worsening of the supply/demand imbalance in the housing market. The average price of a house, as with all goods and services, ultimately depends on demand and supply…
While none of this necessarily applies to Maui real estate specifically, it does impact the mindset of buyers who are considering buying. Let’s find some detailed data now.
Berson projects the percentage likelihood that following markets will see lower housing prices in two years.
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April 6th, 2008
While the Maui real estate market, particularly the Maui oceanfront market and the Wailea real estate market, have largely escaped the mortgage crunch hitting the mainland, the ongoing banking crisis has nonetheless dominated the financial news. What may be less clear is just how successfully those institutions are replenishing their coffers. Many major institutions have shown the ability to raise capital quickly, if not cheaply. Already over 130 billion has been raised. The latest? WaMu who will shortly be raising $5 billion from Texas Pacific Group and other investors.
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April 6th, 2008
There have been two new Maui oceanfront listings in the past week. In Napili, a pristine 4800 sqaure foot home and cottage, on a half acre has been listed at $18.5 million or over $3500 per square foot. This Rich Young design boasts three bedrooms, a chef's kitchen and a pool in addition to its stunning oceanfront location. In Manawai, on the North Shore, an almost new 5200 square foot home set on over 5 oceanfront acres has been listed for $5.995 million or $1150 per square foot. Perched above Uaoa Bay, the dramatic views are complimented by first class materials, a state-of-the-art-kitchen and fireplaces!
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April 6th, 2008
April 15 is just around the corner and for those owners of Maui real estate still getting our tax affairs in order here are some tax tips from the IRS:
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April 6th, 2008
Maluaka is a new, under construction, condominium development located just south of the Maui Prince Hotel. It will consist of 69 condominiums and an amazing 30,000+ square foot clubhouse. This development will set a new standard for Maui real estate due to its luxury, ecologically sensitive development and unmatched amenities. The location is a private eleven acre parcel with captivating Pacific views running from Pu'u Olai to West Maui. Units are all extremely large and well appointed with garages, elevators and enormous lanais. Wailea real estate enthusiasts have been seeking the next generation in comfort, prestige, privacy, convenience and beauty. Maluaka will provide it all. Maui real estate has moved to a new standard with Maluaka. Prices begin at $4 million.
For details, contact us!
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April 5th, 2008
It has been a long time coming but the planning department has finally delivered the new Maui Island Plan regarding future Maui real estate development. Here are some key features:
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April 4th, 2008
We try not to use this space for just advertising our listings but to be more educational in nature, however we'd like to review our current oceanfront listings. Each link takes you to a dedicated website for that property: Read More »
April 3rd, 2008
A very good article in tomorrow's New York Times regarding one's first vacation home. It has some interesting implications for Maui real estate. Here are the key points and how we believe they apply to Maui.:
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April 3rd, 2008
In a recent post, Zillow.com data master Stan Humpheries argues that the median sale price is NOT an accurate reflection of housing prices. Here is Humpheries' argument:
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April 2nd, 2008
In the first quarter of 2008, two oceanfront homes sold on Maui. We sold 3060 South Kihei Road for $10 million ans 20 Hui E Road in Kahana sold for $8 million. The per square foot average price of those homes of approximately $1700 was slightly lower than the $1779 for all of 2007. Sellers accepts 91% of their asking price. Another four properties are in escrow, three on the west side and one in Makena. That leaves nearly 70 oceanfront properties for sale across the island. For more information, contact us!
