YUP, SNOW ON MAUI
January 30th, 2008A shot from Haleakala (from the Maui Times).
HOUSING PREDICTOR MAUI FORECAST
January 30th, 2008Consulting Firm Housing Predictor has released its Top Ten Buyers Markets for 2008. Maui is ranked third with a prediction for a 5.6% increase in values. Honolulu ranked first and Salem, Oregon second.
SNOW ON HALEAKALA!
January 29th, 2008Yup, Maui has everything! Last night it snowed on Haleakala!
ANOTHER TOM AND SEAN ESCROW
January 25th, 2008We are pleased to announce that Wailea Beach Villas Penthouse 307 has been placed under contract. This brand new and unused condominium boasts 1978 square feet of living space, two bedrooms, travertine floors, granite countertops and unobstructed views of the Pacific and Molikini. It is listed for $3.195 million.
2007 WAILEA MAKENA HOMES RESULTS
January 22nd, 2008The residential market in Wailea and Makena remained active in 2007 with the same number of property sales, 41, as in 2006 (see chart 1 below). Non-oceanfront homes saw median sale price fall to $1.9 million or 5%. Average per square foot value fell 7% to $733 9see chart 2 below). Vacant land pricing (the least reliable measures of the three in our minds) increased 9% on a per square foot basis to $88 (see chart 3 below).
EMERGENCY FED RATE CUT
January 22nd, 2008Undoubtedly concluding that the national economy is in, or near, a recession the Federal Reserve has cut the overnight lending rate to 3.5%, a 75 basis point reduction:
WAILEA MAKENA CONDOMINIUM TRENDS
January 17th, 2008Among Maui real estate, the Wailea/Makena condominium market is among the most prized. We have completed our 2007 analysis for this market and below are our key findings:
MAUI OCEANFRONT RESIDENTIAL TRENDS
January 17th, 2008We have fully analyzed the 2007 results for Maui's oceanfront residential community and here are the major trends.
THE INVENTORY GLUT
January 17th, 2008Agents in Wailea/Makena have begun focusing on the high level of for sale inventory. At the moment, there are 185 condominiums and sixty homes for sale excluding new projects. That represents about two years worth of Condominium inventory and eighteen months worth of residential inventory. It is our view that in the Maui real estate market generally, sellers are recognizing the inventory bulge, are changing their thinking and becoming more realistic. In Wailea and Makena however, most sellers are under no financial pressure to act. It is a preference, not a requirement that they sell. So buyers, while generally having the advantage in the market, do not yet dominate it in the resorts.
THEY ARE EVERYWHERE
January 12th, 2008In the last week, Maui's Humpback whales have been very active and highly entertaining. We live in a remarkable place.
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