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 … (0 comments)
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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 … (5 comments)
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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 … (0 comments)
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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 … (0 comments)
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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, … (0 comments)
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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 … (0 comments)
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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 … (0 comments)
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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 … (0 comments)
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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% … (0 comments)
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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 … (0 comments)
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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 … (3 comments)
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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. … (0 comments)
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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 … (0 comments)
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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 … (0 comments)
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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 … (0 comments)
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HAPPY BIRTHDAY! - 07/05/08 01:50 AM
The Great Experiment continues! Now 232 years and counting!
… (0 comments)
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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 … (0 comments)
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