FINALLY THE NEW PARK BEGINS
June 30th, 2008Well, after years of waiting, the 40 acre regional park just north of Hope Chapel will commence construction in January:
A MIXED PICTURE
June 28th, 2008The news coming from the mainland housing market remains bleak, but there are a few causes for optimism. New home sales nationally fell in May to an annual rate of 512,000 units, down 2.5% from April. Exisitng home sales increeased 2% to just under a 5 million annual pace while median price fell 6 from a year ago. None of this is particularly good news. But there are a few bright spots. In California, declining prices led to an 18% increase in sales in May. How does this impact Maui real estate? As we have said before, this kind of data influences the willingness of mainlanders to buy real estate anywhere. Locally, the last nine homes in Moana Estates have been placed under contract in a bulk sale. For more details, contact us!
MAY TOURISM RESULTS
June 27th, 2008The Department of Business, Economic Development and Tourism has released Maui's May Tourism results. Here are the highlights:
MERRILL LYNCH WEALTH REPORT
June 24th, 2008Merrill Lynch has released their wealth report for 2008. Here are some key findings related to real estate.
HARVARD HOUSING STUDY
June 24th, 2008Harvard's Joint Center for Housing Studies has released its 2008 State of the Nation's Housing. Here is a summary of the key findings and the likely impact on Maui real estate.
THE LEADING EDGE STRIKES
June 16th, 2008We are pleased to announce that Wailea Fairway Villas X-103 is now in escrow. That three bedroom condominium is listed for $1.325 million.
A QUIET ISLAND
June 16th, 2008Even with the Maui Film Festival going on, the island remains very quiet. The impact of the two airline bankruptcies and higher ticket prices is clearly creating a decline in tourism. The question for owners and pursuers of Maui real estate is how long will this go on? Our sense is that the condition is temporary. Already airlines are beginning to fill in the gaps in out travel schedule and our friends at the major hotels tell us that the reservations for next season are already very heavy. So what does this mean? In the near term it means that areas like Kihei may come under some additional price pressure but that over time Maui will remain a destination of choice. For more details, contact us!
NATIONAL SALES RESULTS FOR MAY
June 9th, 2008Today the NAR released the national pending sales results for May. Below are some key snippets and the likely impact on Maui real estate.
MOKULELE HIGHWAY FINISHED
June 8th, 2008Yes, it is finally done. The drive from Kahului to Kihei is now two lanes in each direction and the intersection with the Piilani Highway is now much simpler. The trip has been shortened by 5-7 minutes and backups should now be rare. But we spent $87 million for six miles of road?
ANOTHER TOM AND SEAN LISTING
June 3rd, 2008We are pleased to announce the listing of Wailea Ekolu unit 1603. This en-suite, two-bedroom, 1071 square foot unit has been thoroughly remodeled and has a spectacular kitchen.
