Aloha,

We hope that you and your families find health, happiness and prosperity in 2007.

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This article details the increasing focus on trophy properties in the real estate world, in this cast the $5.4 billion purchase of New York City's Stuyvesant Town and Peter Cooper Village.  Hmmm, trophy properties, maybe it has something to do with Maui after all. For example, the Makena Resort is still in the midst of its bidding process. News should be forthcoming on that over the next several weeks.

Tiger Woods apparently prefers skiing to Maui. Kind of makes one wonder, huh? Tiger will not be playing in the upcoming Mercedes Championship  next week. Oh well, I suppose we'll, have to get along with only Vijay Singh, three time defending Champion Stuart Appleby and Kapalua's own Jim Furyk. These guys are good!

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A very quiet week in Maui Meadows. No new listings or sales. The twenty two residential listings are averaging over five months on the market and are asking an average of $815 per square foot. In contrast, the three listings now in escrow were listed for an average of $676. For more information, click on Current Listings above.The season has begun, the island is packed with visitors, but that has not yet translated to an surge in sales. We will keep you apprised.

The National Association of Realtors reported that the number of existing home sales in November rose modestly from October while the median price was 3% lower than last November. For the Western part of the US, sales rose faster than the average and the median price fell less than 1%. What does this mean? Here are some opinions.

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Yes, it's only a single month's data, yes, these are imperfect statistics…BUT

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On December 30, the Wailea Tennis Club will be hosting the Number One Men's Doubles Team in the world! The Bryan Brothers will host a clinic, play in  pro-am and exhibition matches and sign autographs. Luke Jensen will also be making an appearance. Click here for details.

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645 Laniolu, a two thousand square foot pole house and cottage with magnificent views has gone into escrow after nine months on the market. The house had originally been listed for $1.55 million and was most recently listed for $1.195 million.

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Today we are featuring one of our own listings, 701 Kupulau. This owner built Mediterranean-style home presents panoramic ocean views, granite counters, marble bathrooms and a lush, heavily landscaped lot. The primary residence is 2000 square feet upstairs with three bedrooms and a great room feel, while the downstairs is divided into two residences, a two-bedroom ohana and a one-bedroom caretakers unit. This lovely home is listed for $1.8 million.

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In today's New York Times, the answer seems to depend greatly on who one talks to. The entire article is here. Some economists are forecast 3% GDP growth, others are arguing  that a recession may appear in the second half of 2007, others are calling for slower growth, but not a recession. The big issue seems to be how one views the housing slowdown.

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