|
||||||
|
||||||
|
||||||
In the last week unit E-303 has come on the market for $2.595 million. This unit is a recent remodel and is being sold furnished. Unit B-302, another top floor unit has reduced its listing price $75,000 to $2.595 million after over a year on the market.
The Department of Commerce announced today that in the fourth quarter of 2006, Gross Domestic Product, the broadest gauge of economic activity, grew at a remarkable 3.5%.
It has been months since Makena Surf has seen a sale and one might ask why? Here is a theory that it is to early to prove. In 2006, 46 oceanfront condominiums sold in Wailea, almost flat to 2005's 44 units. Of the 46 2006 sales, 15 were resales at Wailea Beach Villas. In other words, unit sales at the older complexes fell over 30%. Given the lack of action at Makena Surf and the recent substantial price reductions offered at premier units in Elua and Ekahi, one wonders if the presence of the newer product is having an impact.
250 acres of the Poli Poli forest on Haleakala continue to burn and this morning we could see flames leaping above the treeline for the whole story click here.
In today's Honolulu Advertiser, the headline reads "Tourism Remaining Steady."
A colleague sent us a fascinating article from New West today. In it the author cites a number of major trends that make Aspen real estate expensive today and likely more so tomorrow. Here's a snippet:
KEALI`I REICHEL , singer, songwriter and keeper of Maui's cultural flame returns to the Maui Arts and Cultural Center on February 9th and 1oth. Reichel will be leading his halau in traditional chants and hula in addition to his warm and uplifting music. His enthusiasm, passion and committment to his heritage and his home comes through in his lyrics and his voice. His shows the last few years have been nothing short of sensational. Don't miss this.
There have been no new listings or sales thus far this year at Makena Surf.
Just prior to Christmas, Wailea condominium inventory for sale stood at just below 85 units for sale. As of today, there are 107 units for sale, a more than 25% increase in a month. That does not include the resales now available in complexes like Kai Malu and Kanani Wailea. If one includes those, inventory is more like 112-115 units for sale. At 2006 absorption rates, that represents almost exactly one year's worth of inventory. Since January 1, only two Wailea condominiums have gone into escrow, compared to thirteen a year ago in the same period.
2010 Makena Surf Real Estate Report Now Available!
| Featured Properties |
C-106 Makena Surf - Reduced $2,449,000 Learn More |
 |
|
|
