MORGAN STANLEY ON THE WORLD ECONOMY
April 9th, 2007Today's research from Wall Street behemoth Morgan Stanley offered some interesting tidbits.
MAINLAND INVENTORY INCREASES
April 7th, 2007According to Ziprealty, a search of 18 major cities across the US shows a significant increase in the number of homes listed for sale.
ANOTHER TOM AND SEAN ESCROW
April 7th, 2007Palms at Wailea unit 1304 has been on the market for thirty days. It is a one bedroom in original condition with an excellent view and extra lanai. Our client listed it for $899,000 which at the time was the most that had ever been asked for a one-bedroom in this complex. We are pleased to announce that unit has gone under contract.
WATER COSTS LIKELY TO INCREASE
April 6th, 2007The Water Department is seeking to raise rates and divide consumers into three classes.
PRICE REDUCTION AT PALMS AT WAILEA
April 5th, 2007We are announcing a significant price reduction on unit 2108, to $799,000. This is a one-bedroom unit with a tiled entry, upgraded furniture, new refrigerator, very pleasant, open views and an excellent rental history.
A FASCINATING RESEARCH PIECE
April 4th, 2007The Radian Group released a report last year on Housing Trends Among Baby Boomers. Some of their findings have importance for the Maui market. Here is a quick synopsis:
PRELIMINARY MARCH WAILEA AND MAKENA CONDOMINIUM RESULTS
April 2nd, 2007In March 2007, only three Wailea/Makena Condominiums closed compared to thirteen in the same month last year. The median sale price for last months was $990,000, identical to a year ago. The average per square foot value was $887, down dramatically from last year's $1,239. In March 2006, almost 1/3 of the sales were in oceanfront properties while in March 2007, none were. The mix of sales is almost entirely responsible for the per square foot decline. Compared to February of 2007, unit sales have declined from 7 to 3, median sale price is up significantly from $815,000 while per square foot value is down considerably. The limitation on all these statistics is that so few units have sold that getting an "apples to apples" comparison is impossible. But these numbers do suggest that the stagnation in this condominium market continued in March.
MAUI ARTS AND CULTURAL CENTER UPDATE
April 1st, 2007As we have said before the MACC is one of Maui's treasures. If you haven't been, you'll find something you like. In the next few months here are some things we'll be sure to attend:
