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We all knew it was coming and now it is here. A Canadian condominium developer seeking to build two projects in the Kamaole area has filed a suit in Federal Court challenging Maui's "Workforce Residential Housing Policy."
We are pleased to announce the listing of Na Hale O Makena Unit B-302. This immaculate 2200 square foot jewel boasts two large bedrooms, a gourmet kitchen with granite counters, Gaggenau appliances and designer cabinets, travertine flooring and a condominium-wide stereo set-up. The enormous lanai features a lovely view of the Pacific and a built-in outdoor kitchen. Na Hale O Makena is a very low density, luxury complex with gated entries, elevators, extraordinary lobbies, an on-site manager and a gorgeous pool and exercise area. At an asking price of $2.19 million, this unit represents a wonderful value!
We received a mixed-bag today. First the good news. GDP for the second quarter (ended June) was revised upwards to 4%, an outstanding number.
Standard and Poor's Case-Shiller Index is a composite of single-family home sales results in the 20 largest US cities. They reported their second quarter numbers today and the news was not good.
As you probably know, there is a controversy going on regarding the future of transient accommodations (vacation rentals) in non-hotel zoned properties. In the past, the County has tended to look the other way except in the cases of ongoing complaints. We are sympathetic to the views that zoning regulations should be followed, period. However, after so many years of active non-enforcement, we believe the impact of shutting down bed and breakfasts would cause economic hardship for owners, damage the visitor industry on Maui and drive potential visitors to other destinations. Rather than shut-down, the County should force all such existing businesses to register and be subject to good conduct provisions.
The National Association of Realtors has released their July existing homes sales data.
The US Census Bureau released the national sales figures for new homes for July today and the numbers were better than expected. Read More »
Bank of America has taken what is the equivalent of a 16% stake in Countrywide Financial, the nation's largest mortgage lender. The size of the investment is $2 billion.
Home foreclosures in Hawai'i continued growing last month over a year ago, though the local foreclosure rate was sixth-lowest among states, according to a report from RealtyTrac. The Irvine, Calif.-based real-estate research firm said there were 85 Hawai'i foreclosure filings in July, up 60 percent from 53 in the same month last year
2008 Maui Meadows Real Estate Report Now Available!
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