MORTGAGE REFINANCING GETS TOUGHER
February 8th, 2007In today's Wall Street Journal, a story outlines how the combination of declining prices, prepayment penalties and tighter credit standards are catching some owners in a trap:
JANUARY NUMBERS FOR OAHU AND MAUI
February 6th, 2007In today's Honolulu Advertiser, the story reads that Oahu's single family home median sale price in January was down 2.4% from January 2006. By comparison, Maui's single family home numbers, according to the Realtors Association of Maui, were down 9% from January a year ago. This data can only be seen to be the roughest sort of approximation. Sales in Wailuku and Kahului represented 43% of all home sales this January, where they represented only 37% last January. More expensive locations like Maui Meadows had no sales this January and five last January. Finally, Wailea's numbers would claim that median sale price is down 74% from a year ago. 74%!!! Of course it isn't true. Those statistics represent the closing of pre-construction sales on Residential Condominiums like Kai Malu and Kanani Wailea at prices set two years ago. They aren't even single family homes for crying out loud! One must really scrub the data to get the true story and understanding the mix of sales is essential to the analysis.
HAWAII ECONOMIC TRENDS 2007
February 5th, 2007Bank of Hawaii Chief Economist Paul Brewbaker has issued the first of his quarterly reports on the Hawaiian economy. Here are his key findings:
HONUAULA RECEIVES PRELIMINARY APPROVAL
February 2nd, 2007Honua'ula, the former Wailea 670, has received the recommendation of the Maui County Council Land Use Committee .
NEW HIGH SCHOOL NEXT TO MAUI MEADOWS?
February 1st, 2007Perhaps. Japanese billionaire Gensiro Kawamoto, who owns 147 acres adjoining the northern border of Maui Meadows has made such a proposal.
