May 12

DECLINING NATIONAL INVENTORY

In today's Wall Street Journal the following
 

The number of homes listed for sale in many U.S. cities continued to fall in April in what some analysts see as a sign that the market may be nearing a bottom…The supply of homes for sale in 29 major metropolitan areas at the end of April was down 3.6% from a month earlier, according to figures compiled by ZipRealty Inc., a real-estate brokerage firm based in Emeryville, Calif.

This is excellent news although the period being examined is relatively short.

In some of the markets most affecting Maui real estate Bakersfield inventory was down 14%, Orange County was down 8%, San Diego and Sacramento 5%, Las Vegas down 11%, Los Angeles down 14%.

This is GREAT news.

May 11

INCREDIBLE FINANCING AT KAI ANI VILLAGE

Victory Development Hawaii in conjunction with Wells Fargo Bank is offering an extraordinary financing opportunity at Kai Ani Village. Today, qualified buyers in buildings 1,2 and 3 can obtain financing a full percentage point below that available in the marketplace generally for a 30 year fixed rate mortgage. Today those rates would be in the 4.25% range. That savings translates to approximately $300 per month and $100,000 over the life of the loan. For details contact us at Coldwell Banker Island Properties.

Apr 13

MAUI SUNRISE

Apr 13

THE CASE FOR BUYING NOW

From the Wall Street Journal's Bret Arends
 
Maybe the moment of maximum pessimism is at hand after all…So let me play devil's advocate and consider the positive case for buying a home right now. The key factor: Interest rates. If you can borrow at 4.5% or 5% over 30 years, many purchases start to look appealing. Especially if we get a hefty dose of inflation down the line. If that happens, your monthly payments will be low and you'd get to repay the principal over time with devalued dollars. That's a double win.
 
The entire article is worth a read.

Apr 13

FEBRUARY SALES RESULTS

The national February sales figures show that
  • Existing sales rose 5% from January to a 4.72 million annual rate
  • Months of supply increased slightly to 9.7 months
How does that affect Maui real estate? Directly it doesn't at all. But both of these data points seem to indicate that we are at or near a bottom.

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Apr 05

FIRST QUARTER MAUI REAL ESTATE RESULTS

Condominium sales across Maui fell 49% in the first quarter of 2009 compared to the same period a year ago. Median sale price declined 27% and the average per square foot value was 29% lower. Single family homes saw similar trends with unit sales falling 34%, median sale price falling 22% and average value per square foot down 27%.
 
Now obviously none of this is good news but we are now weeing prices at 2004-type levels and that makes it a heck of an opportunity.

Apr 05

KEY FEATURES OF KAI ANI VILLAGE

What are some of the construction reasons to own in Kai Ani Village? Here are a few on the interior:
  • Private finished garages (selected units – attached & detached) with electric openers and direct access (where available)
  • Brushed nickel door hardware
  • Low energy windows
  • Radiant barrier roof/attic energy saving system
  • Decora lighting package (paddle switches)
  • Ceiling fans in master bedroom & family room
  • Air conditioning
  • Category 5 wiring in master bedroom and family area for phone and computer – Network Ready
  • Premium baseboards and trim
  • Fire sprinklers
  • Insulated walls between units to reduce noise
  • Lightweight concrete floors between 1st & 2nd floors reduces sound transmission
    • You get a lot for your money at Kai Ani Village.

    Apr 05

    LIGHT AT THE END OF THE TUNNEL?

    We are finally seeing some reasonable economic data:
    • New home sales rose 4.7% in February to a 337,000 unit annual rate, rebounding from the all-time low hit in January… Around 5-6 months of supply would be consistent with a balanced market;
    • Meanwhile, existing home sales gained 5.1% in February to 4.72 million after hitting a 12-year low, but inventories were unchanged, remaining badly elevated at 9.7 months.
    • Similarly, durable goods orders at first glance looked much better than expected,Against the expected bigger negatives from investment and inventories, the consumption picture at least looks a bit better.
    • Real consumer spending fell 0.2% in February, as expected, but January was revised up to +0.7% from +0.4%. As a result, we now see 1Q consumption rising 1.3% instead of +0.9%. While the swing into positive territory would be a positive development, the upside we’re forecasting would mark a meager rebound
    Don’t get us wrong, none of this is good news, but it is better than things have been recently. While there is no direct impact on Maui Real Estate directly, over time an economic improvement will help us.

    Apr 05

    EXCELLENT HOUSING AFFORDABILITY

    According to a recent report by the National Association of Realtors
    Also in February, NAR’s Housing Affordability Index rose to a new high…NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth, said home buyers are in an excellent position. “The drop in mortgage interest rates and home prices mean the buying power of a typical family has never been better,” he said. “If you have a good job and long-term plans, it’s unlikely that you’ll find a much better time to buy a home. This is especially true for first-time buyers who can qualify for an $8,000 tax credit this year, have a great selection of homes to choose from, and are in a favorable negotiating position.”
    Unabashed good news.

    Mar 26

    THE GREEN FEATURES OF KAI ANI VILLAGE

    Kai Ani Village gives recognition to those that care for the environment by using ecologically friendly products and environmentally friendly construction practices to help combat global warming. The design of Kai Ani Village has been focused around the preservation of native wetlands and the integral use of green building, earth-friendly strategies. Here are some FAQ's regarding the Green Features
     
    Q: Do green built homes cost more to build?
    A: Typically Yes – but with our expertise with Green construction, we have incorporated all the benefits of owning a green built home at no extra cost to you.

    Q: Are all new homes green built?
    A: No. Many projects are still being built using yesterday's construction practices.

    Q: What improvements will I receive as compared to a condominium built in the 1980s, or even 1990s?
    A: A highly energy and water efficient, quiet home that will save you money on your monthly utility bills. By owning a home in Kai Ani Village, you will be playing a key preserving the Hawaiian Islands for future generations.

    Q: Isn't "Green" building more complicated?

    A: Yes. By the use of many superior products and construction practices, a green home inherently builds in value that does not exist in many other projects.

    Contact us for a private showing!

     

     

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