July 28th, 2008
For an extended period of time Maui real estate seemed to avoid the slowdown in the national market, but now it has undeniably arrived. Island wide, and in South Maui, we are seeing increased inventory, extended days on market, the occasional short-sale and wary buyers.
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July 17th, 2008
In the first six months of 2008, activity along the Maui oceanfront declined significantly. Only five sales were completed compared to 19 in all of 2007. The median sale price of $8.7 million reflects the fact that of the homes sold, four were in tiptop condition and they averaged over 5000 square feet. The per square foot average of approximately $1500 is 15% below the 2007 level. However, with so few data points, only tentative conclusions can be drawn. At this sales pace, the over 50 oceanfront homes for sale represent several years of inventory, a stunning number. For details, contact us!
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May 19th, 2008
Today we are announcing a huge price reduction of one of our Makena oceanfront home listings. 6980 Makena road has been reduced to $4.75 million from $6.385 million.
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April 1st, 2008
For the most recent issue of Coldwell Banker's proprietary magazine Maui, a Property Portfolio, we were asked to write an article on South Maui new developments. It appears on page 82 of the magazine. In the article are brief descriptions of Houna'ula, Maluaka, The Bluffs at Wailea and several other new developments. When considering Maui real estate, one should always be cognizant of upcoming projects. For more details on new projects across Maui, please contact us.
March 18th, 2008
The Federal Reserve Board of Governors has announced a reduction of 75 basis points in the overnight lending rate.
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March 17th, 2008
Researchers on the Big Island have drilled and found an enormous unexpected supply of fresh water. Why does this matter for Maui real estate? Because water limitations are frequently cited as a reason for stopping development and because the same researches believe Maui may have a similar geologic formation:
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March 12th, 2008
Global Insight and National City Group have released their latest piece of research on the national housing market. Some key snippets follow:
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March 3rd, 2008
In an interview today on CNBC legendary investor Warren Buffet stated the following:
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