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Please let us know if there is something specific you'd like us to keep you apprised of! Mahalo.
- Tom & Sean Maui Meadows Real Estate's Leading Edge
The distress in the jumbo mortgage world has clearly had a negative impact on Maui real estate. In Wailea in the first six months only 1/3 of all sales were financed with conventional mortgages. That is only half that of 2008. But help may be on the way.
And that includes Maui. We would expect that sales activity increases are necessary to see price stabalization. So this is good news for Maui real estate.
From the Wall Street Journal's Bret Arends
Condominium sales across Maui fell 49% in the first quarter of 2009 compared to the same period a year ago. Median sale price declined 27% and the average per square foot value was 29% lower. Single family homes saw similar trends with unit sales falling 34%, median sale price falling 22% and average value per square foot down 27%.
We are finally seeing some reasonable economic data:
According to a recent report by Citigroup's Private bank:
According to a recent report by the National Association of Realtors
2008 Maui Meadows Real Estate Report Now Available!
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