Aloha,

We hope that you and your families find health, happiness and prosperity in 2007.

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This article details the increasing focus on trophy properties in the real estate world, in this cast the $5.4 billion purchase of New York City's Stuyvesant Town and Peter Cooper Village.  Hmmm, trophy properties, maybe it has something to do with Maui after all. For example, the Makena Resort is still in the midst of its bidding process. News should be forthcoming on that over the next several weeks.

Tiger Woods apparently prefers skiing to Maui. Kind of makes one wonder, huh? Tiger will not be playing in the upcoming Mercedes Championship  next week. Oh well, I suppose we'll, have to get along with only Vijay Singh, three time defending Champion Stuart Appleby and Kapalua's own Jim Furyk. These guys are good!

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Things are quiet all over Kihei and Kamaole Sands is no exception. While the island is packed with visitors, that has not yet translated to condominium sales in Kihei. There have been no new listings or sales in the last week in Kamaole Sands. Unit 5-211 has been withdrawn from the market and units 9-107 and 10-406 have offered price reductions to $495,000 and $799,000 respectively. Fourteen units remain for sale, three two-bedroom and the rest one-bedroom units. Those units have been on the market an average of four months and are asking an average of $633 per square foot. For more detail, click on current listings above. Kihei wide over 400 condominiums remain for sale.

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The National Association of Realtors reported that the number of existing home sales in November rose modestly from October while the median price was 3% lower than last November. For the Western part of the US, sales rose faster than the average and the median price fell less than 1%. What does this mean? Here are some opinions.

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Yes, it's only a single month's data, yes, these are imperfect statistics…BUT

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On December 30, the Wailea Tennis Club will be hosting the Number One Men's Doubles Team in the world! The Bryan Brothers will host a clinic, play in  pro-am and exhibition matches and sign autographs. Luke Jensen will also be making an appearance. Click here for details.

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In today's New York Times, the answer seems to depend greatly on who one talks to. The entire article is here. Some economists are forecast 3% GDP growth, others are arguing  that a recession may appear in the second half of 2007, others are calling for slower growth, but not a recession. The big issue seems to be how one views the housing slowdown.

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We'll be light on the blogging updates over the next few days and we'll pick it up after Christmas.

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Another quiet week at Kamaole Sands. One unit, 7-409 a loft two-bedroom listed for $774,000 went into escrow after almost nine months on the market. Unit 3-207, a one bedroom, dropped its asking price from $$560,000 to $547,000 after almost 100 days on the market. We will keep you apprised of additional Kamaole Sands developments as they happen.

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