Aloha & Good Morning!
The current Maui temperature today will include a sunny sky and a high of 86 degrees!
This second set of numbers shows the average sales price for the three key areas. Residential and Condo Sales Price was down while Vacant Land Sales Price was up slightly.
According to the Realtors Association of Maui, inventory on Maui has declined by 18-21% over the past 12 months in Residential and Condo classes.
NEWS FROM THE NATIONAL ASSOCIATION OF REALTORS
Below is a link to a great document by the National Association of Realtors. In
this link you will find information about a new 3.8 percent tax that
will apply to some (but not all) investment income and this will include
some real estate business. This new tax will take effect on January 1, 2013. Please contact me by email, phone or text if you have any questions.
Applies to: Individuals with an adjusted gross income (AGI) above $200,000 or Couples filing a joint return with more than $250,000 AGI
Types of Income: Interest, dividents, rents (less expenses), capital gains (less capital losses)
Formula: The new tax applies to the LESSER of investment income amount and Excess of AGI over the $200,000 or $250,000 amount
New listings have been added to the Windermere Valley Isle Properties YouTube Channel. If you want to keep up-to-date with the newest listings you can follow them by clicking HERE!
Don't forget to get your name in for this year's exciting i-Pad giveaway!
Looking for more great articles, videos and advice? Check out the Real Estate Sales Maui Team on FACEBOOK, TWITTER and BLOGGER.
Last Week In The News
Retail sales rose 0.2% for the week ending October 6, according to
the ICSC-Goldman Sachs index. On a year-over-year basis, retailers saw
sales increase 2.8%.The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending October 5 fell 1.2%. Refinancing applications decreased 2%. Purchase volume rose 2%.
Wholesalers increased their inventories 0.5% to $487.5 billion in August. Sales at the wholesale level fell 0.9% to $405.4 billion in August. On a year-over-year basis, sales were 2.1% higher since August 2011.
Import prices rose 1.1% in September, following a 1.1% increase in August. On a year-over-year basis, import prices were down 0.6% in September. Export prices rose 0.8% in September after advancing 1% in August. Compared to a year ago, export prices were down 0.5% in September.
The producer price index, which tracks wholesale price inflation, rose 1.1% in September, following a 1.7% increase in August. On a year-over-year basis, wholesale prices were up 2.2% in September. Core prices — excluding food and fuel — were unchanged in September.
The Reuters/University of Michigan consumer sentiment index for October's preliminary reading rose to 83.1 from 78.3 in September.
Initial claims for unemployment benefits for the week ending October 6 fell by 30,000 to 339,000. Continuing claims for the week ending September 29 fell by 15,000 to 3.273 million.
Upcoming on the economic calendar are reports on the housing market index on October 16, housing starts on October 17 and existing home sales on October 19.
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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