WHERE’S THE RECESSION? - 07/31/08 01:27 PM
In the second quarter the US economy grew at a slow, but positive rate of 1.9%.
 An emergency dose of government stimulus helped the U.S. economy grow at a 1.9 percent annual rate in the second quarter, a soft pace but enough to take it off a path perilously close to recession.
 This is unambiguously good news for Maui real estate. Any press reports other than doom and gloom are helpful.
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PRESIDENT SIGNS HOUSING BILL: This is good - 07/31/08 01:25 PM
The long talked about housing rescue bill has become law. The key features include: 
$300 billion for new cheaper loans for troubled borrowers; $3.9 billion for fixing vacant properties; $15 billion in tax cuts; and Permanently increases to $625,000 the conforming loan limit This legislation will likely help the lower end of Maui real estate stabilize, particularly Up Country, north Maui and the Kapalua area. The increase in the conformal loan limit could be a benefit to those purchasing Kamaole Sands units.
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A sliver of good News: NATIONAL HOUSING INVENTORY DECLINES - 07/29/08 07:36 PM
After the Case Shiller Report, its nice to have something good to leave ya with for the day. Well, a tiny piece of good news amongst the carnage. The national housing inventory has declined...a little.
  The Wall Street Journal's quarterly survey of housing data in 28 major metropolitan areas showed that the supply of homes listed for sale declined from a year earlier in 19 of them. The decline is at least partly due to people taking their homes off the market after concluding that they can't get anything near the prices they desired. If the decline continues, it will signal … (0 comments)

LOUSY CASE SHILLER NUMBERS: And what they Mean to Maui - 07/29/08 07:32 PM
Standard and Poor's Case Shiller Index released it's data through May today and the news is not good:
Data through May 2008, released today by Standard & Poor's for its S&P/Case-Shiller
1: Home Price Indices, the leading measure of U.S. home prices, show annual declines in the prices of existing single family homes across the United States generally continued to worsen in May 2008. For the second straight month, all 20 MSAs posted annual declines, nine of which are posting record lows and 10 of which are in double-digits. Both the 10-City Composite and the 20-City  Composite are reporting record low annual … (0 comments)

SELLING ON MAUI IN TODAY’S MARKET - 07/29/08 12:09 AM
For an extended period of time Maui real estate seemed to avoid the slowdown in the national market, but now it has undeniably arrived. Island wide, and in South Maui, we are seeing increased inventory, extended days on market, the occasional short-sale and wary buyers.
At present, in each property class, only two kinds of for sale properties exist, the very best values and everything else. The very best values receive regular showings and most of the attention from local Realtors. Other properties get largely ignored.
Understanding how the buying dynamic works is critical for sellers. Buyers have limited time and … (0 comments)

Lousy National Sales Figures - Bad for Maui? - 07/24/08 06:40 PM
The NAR has reported that existing home sales fell in June on a seasonally adjusted basis.
 Existing-home sales ? including single-family, townhomes, condominiums and co-ops ? fell 2.6 percent to a seasonally adjusted annual rate1 of 4.86 million units in June from a pace of 4.99 million in May, and are 15.5 percent lower than the 5.75 million-unit rate in June 2007.Existing-home sales ? including single-family, townhomes, condominiums and co-ops ? fell 2.6 percent to a seasonally adjusted annual rate1 of 4.86 million units in June from a pace of 4.99 million in May, and are 15.5 percent lower than the 5.75 … (0 comments)

A DEAL IN WAILEA - 07/24/08 06:38 PM
We are pleased to join the listing for Wailea Fairway Villas Q-103. This townhouse style three-bedroom, 1500+ square foot unit boasts lovely ocean views, is in excellent condition and a list price under $1.1 million. There is a deal to be had here! For a private showing please contact us!

Wailea Fairway Villas offers great views, modern condos, and on the green golfing.
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NATIONAL SALES DATA - 07/22/08 04:59 PM

 

From our friends at Calculated Risk comes some telling national data. The top chart shows the absolute amount of for sale inventory nationally. At approximately 4.5 million existing homes for sale we seem to have reached a peak. That is good news. The second chart shows, at the current absorbtion rates how long it will take to sell the current inventory. At 11 months it is the highest level in 25 years. That is depressing news. What does this mean for Maui real estate? Well, the months of inventory on Maui is even higher than these national numbers, … (0 comments)

FIRST HALF WAILEA RESULTS - 07/17/08 07:27 PM
In the first six months of 2008, the Wailea-Makena real estate market like the larger Maui real estate market remained sluggish. 50 Wailea condominium resales were completed, which is down from the same period in 2007. Oceanfront complexes saw 19 sales while the average sales price per square foot declined 13% from the full year 2007 levels. There were 31 mauka complex sales where per square foot sales prices were flat. The change in sales mix which saw resales at Ho'olei made the mauka numbers as a group look stronger than they truly were. With over 180 units for sale in … (0 comments)

BERNANKE IN FRONT OF CONGRESS - 07/16/08 02:01 AM
In testimony today in front of Congress, Fed Chairman Ben Bernanke said he sees threats to both economic growth and inflation.
 There are "significant downside risks to the outlook for growth," and "upside risks to the inflation outlook have intensified," Bernanke said in semiannual testimony on the economy to the Senate Banking Committee in Washington.
What does this mean for Maui real estate? It means that Bernanke sees a possible near-term recession, ongoing liquidity issues in the mortgage market and pressure on inflation due to commodity prices. None of this is good news. It would all impact consumer spending and … (0 comments)

INDYMAC AND WHAT IT MEANS - 07/13/08 02:53 PM
As you may know, mortgage lender Indymac has been seized by banking regulators. This is the latest and most visible of the woes facing the mortgage market.
  IndyMac Bank, a prolific mortgage specialist that helped fuel the housing boom, was seized Friday by federal regulators, in the third-largest bank failure in U.S. history. IndyMac is the biggest mortgage lender to go under since a fall in housing prices and surge in defaults began rippling through the economy last year - and it likely won't be the last. Banking regulators are bracing for a slew of failures over the next year as … (3 comments)

ANSWERS FOR CANADIANS - 07/13/08 02:49 PM
Many Canadians are considering buying real estate on Maui and, as such, have a series of questions we thought we'd address up from. In no particular order, here we go!
Q: What is the difference between fee simple and leasehold ownership? A: Fee simple is straightforward ordinary ownership of real estate. Nothing to worry about there. Leasehold means that the condominium complex leases the underlying land that complex is located upon from a third party. The risk of that is that one's economics can change when the underlying lease is renegotiated upon expiration. Be very careful with this type of ownership … (0 comments)

ANOTHER TOM AND SEAN CLOSING - 07/11/08 09:05 PM
We are pleased to announce the sale of Wailea Fairway Villas unit X-103. This three-bedroom townhouse is in immaculate condition with an upgraded kitchen. Current sales continue to show that in this market, condition and updated look and feel, continue to dominate over view and other factors. To discuss how the Leading Edge Marketing System can help sell your Maui real estate in this most difficult of markets, contact us! 

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JUNE WAILEA RESULTS - 07/09/08 04:17 PM
In June Wailea saw only five condominium closings. The surprisingly high median sale price of $1.75 million is a function of two of the five sales being in Wailea Beach Villas. The per square foot average, the better measure in our view, fell 13% from the 2007 average to $1,075. With nearly 180 condominiums for sale, inventory remains very high. Two homes sold in June for a median price of $1.3 million and a per square foot average of $602. Neither of those homes offered an ocean view. While it is always difficult to draw conclusions from only a few data … (0 comments)

PARADISE REMAINS QUIET - 07/07/08 03:45 PM
The island of Maui remains quieter than usual at this time. There seem to be fewer tourists than is usual for early July and therefore the market for Maui real estate is similarly quiet. It isn't yet clear whether this is entirely a function of the airline bankruptcies and commensurate loss of lift or other factors. For details, contact us!
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HAPPY BIRTHDAY! - 07/05/08 01:50 AM

 The Great Experiment continues! Now 232 years and counting!
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WAILEA CONSTRUCTION UPDATE - 07/02/08 04:42 PM
The Wailea Community Association has released its latest construction update and here are the key items: 
Renaissance Wailea demolition may begin  in early 2009; Mass excavation, including blasting may begin in early 2009 and would last 10 months; Ulua/Mokapu Beach improvements, 22 parking spaces and resurfacing driveway will occur in early 2009; and Vertical Construction at Wailea gateway will begin in July; For details contact us!
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Sean Crowley

Wailea, HI

More about me…

Tom and Sean Maui Real Estate

Address: 161 Wailea Ike Place, Suite A-104 , Wailea, HI, 96753

Office Phone: (866) 476-6284

Cell Phone: (808) 281-8706

Email Me

Maui Real Estate News We will be updating this site frequently to keep you up to date on all matters which might impact Kamaole Sands Real Estate. To look at recent posts that are no longer on the frontpage, please click on the appropriate category in the right hand column. Please let us know if there is something specific you'd like us to keep you apprised of! Mahalo. - Tom & Sean Real Estate's Leading Edge


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