Aloha & Good Morning!
As we round the last week of 2011 and get ready to start with 2012 there are so many things to be positive for! I like a new article that I recently read by Jed Kolko for Turlia. His crystal ball is predicting a gradual economic recovery for 2012. Though he points out that it will be slow he references the Wall Street Journal's expectations that over fifty economic forecasters who were recently surveyed expects the economy to grow throughout 2012. Of course there are so many factors that are unseen that could change any current predictions. However, as I am the forever optimist I will be holding on to this prediction and will look forward to the future of 2012!You can read the entire article HERE.
To get ready for the first week of 2012 I want to share with you my updated list of BEST BUYS for Maui. These BEST BUYS are sure to get you ready to make the first offer of 2012!
Maui's North Shore
Kahakaloa
South Maui - Wailea
This luxury condo in Wailea is located at the Palms of Wailea. Currently there is only one other unit that is priced lower and it can't compare to the location that this one is at. MLS#350183
South Maui - Kihei
West Maui - Kahana
Looking for more great articles, videos and advice? Check out the Real Estate Sales Maui Team on FACEBOOK, TWITTER and BLOGGER.
Looking for the current Bank Owned Foreclosures on Maui? Click HERE.
Last Week In The News
The combined construction of new single-family homes and apartments in November rose 9.3% to a seasonally adjusted annual rate of 685,000 units. Single-family starts increased 2.3%. Multifamily starts rose 25.3%. Applications for new building permits, seen as an indicator of future activity, rose 5.7% to an annual rate of 681,000 units. Existing home sales rose 4% in November to a seasonally adjusted annual rate of 4.42 million units from 4.25 million units in October. The inventory of unsold homes on the market decreased to 2.58 million, a 7-month supply at the current sales pace, down from a 7.7-month supply in October.
The Commerce Department announced that gross domestic product — the total output of goods and services produced in the U.S. — increased at a revised annual rate of 1.8% in the third quarter of 2011.
New home sales rose 1.6% in November to a seasonally adjusted annual rate of 315,000 units from a revised rate of 310,000 units in October. Compared to a year ago, new home sales were up 9.8%.
The index of leading economic indicators — designed to forecast economic activity in the next three to six months — rose a strong 0.5% in November, following a 0.9% increase in October.
Orders for durable goods — items expected to last three or more years — rose $7.5 billion or 3.8% to $207 billion in November. Excluding volatile transportation-related goods, orders posted a monthly increase of 0.3%.
Initial claims for unemployment benefits fell by 4,000 to 364,000 for the week ending December 17. Continuing claims for the week ending December 10 fell by 79,000 to 3.546 million.
Upcoming on the economic calendar are reports on the housing price index on December 27 and pending home sales on December 29.
PS – The Federal Housing Administration (FHA) has extended the temporary waiver of anti-flipping regulations through December 31, 2012.
Craig Haueisen is a Loan Officer with Prospect Mortgage. Please feel free to email him or call him for any of your Mortgage needs.
Office: 808-298-7549 or Email: craig.haueisen@prospectmtg.comClick here to visit Craig's website and apply online: http://myprospectmortgage.com/CHaueisen
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