We usually don't highlight specific properties here, but this one is too good not to talk about. In the entire Wailea real estate market there are two bargains that just jump out. The most recent is a one-bedroom unit in Grand Champions that is listed for $499,000! That is the same price the seller paid in 2004. It simply won't last. The other bargain? Contact us and we'll tell you about it.

Read More »

In today’s Wall Street Journal, an article cites Wellesley College Professor Karl Case calling the bottom of the national housing market:

But new housing starts have at last slumped below the seemingly magical one million mark. That happened in March. Every time that has happened in the last 50 years, it proved to be the bottom of a recession.”It is really remarkable how much where we are today looks like the bottom we’ve had in the last three cycles,” Mr. Case says. “Every time we’ve gone below a million starts, the market has cleared at that moment.”

Is he right?

Read More »

Read More »

Read More »

Read More »

Read More »

Read More »

Read More »

In our analysis of 2007 Wailea and Makena sales results, one of the characteristics that struck us was the widening valuation gap between properties in up-to-date condition and those not in up-to-date condition. For example in 2006, on a per square foot basis, there was no appreciable per-square-foot valuation difference between oceanfront condominiums that had been recently upgraded, and those that has been upgraded in the past. Properties in need of an upgrade obtained per square foot prices 42% lower. In 2007 however that dynamic changed and oceanfront condominiums up to 2007 luxury standards obtained per square foot prices 21% higher than those that had been remodeled but less recently. In 2007, there was no appreciable per-square-foot difference between units needing upgrades and units with older upgrades. This dynamic was similar for non-oceanfront condominiums and for single family homes in Wailea and Makena as well.

Read More »