Aloha & Good Morning!
The current Maui temperature today will be a high of 84 degree with sunny to party cloudy skies.This is amazing and so exciting! I have great Real Estate News this week to share with you. The Realtors Association of Maui released the October Sales Statistics and the number of units sold was up in all three categories of sales, Residential, Condo and Vacant Land. Check out all the numbers below as well as several very positive articles related specifically to Maui's Real Estate market.
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.
A brief overview from the Realtor's Association of Maui stated October's Residential sales rose to a 5-year high of 98 homes sold. Condo sales also rose to 94 units sold. Vacant Land had 8 units sold. Additionally, the Residential and Condo median prices rose to $487,000 and $351,495 respectively.
What does it all mean? If you are looking to sell property and you are able to price it to sell then you may find your property will go fast with multiple offers from buyers. One must be motivated to sell and realistic about the price they ask for their property. You can call or email me today and we can set up a meeting to look over the comparable sales in your neighborhood.
If you are a buyer and aren't already pre-approved for a mortgage then now is your time to get started. Sellers want to have qualified buyers and you will want to show your ability to buy with that pre-approval. Moreover, you do not want to miss out on the low mortgage rates that are being offered. It is only a matter of time before there is a change in the current rates. And if you are a first time home-buyer then you will want to take advantage of low rates, first time buyer incentives and a market that is on the cusp of changing.
Below are some articles to help strengthen this change in the market and get you motivated!
ARTICLE: Home Sales Quickening in County
ARTICLE: Bank Economist Forecasts Bright Future for Maui
REAL ESTATE SALES MAUI - NEW LISTINGS
District: Kihei
Building: Kihei Alii Kai Unit: D106
Address: 2387 S Kihei Road
Bed(s): 1 Bath(s): 1.00
Living Area: 700 SF
View: Mountain/Ocean
Maintenance Fee: $250
Pool: Yes
Building: Kihei Alii Kai Unit: D106
Address: 2387 S Kihei Road
Bed(s): 1 Bath(s): 1.00
Living Area: 700 SF
View: Mountain/Ocean
Maintenance Fee: $250
Pool: Yes
PRICE - - $280,000 Fee Simple
MLS: 353989
MLS: 353989
~ ~ ~ ~
District: Kihei
Building: Southpoint at Waiakoa Unit: 21-205
Address: 480 Kenolio Road
Bed(s): 2 Bath(s): 1.5
Living Area: 750 SF
View: Garden
Maintenance Fee: $393
Building: Southpoint at Waiakoa Unit: 21-205
Address: 480 Kenolio Road
Bed(s): 2 Bath(s): 1.5
Living Area: 750 SF
View: Garden
Maintenance Fee: $393
PRICE - - $150,000 Fee Simple
MLS: 354020
MLS: 354020
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!
Last Week In The News
The Standard & Poor's/Case-Shiller 20-city housing price index — on a non-seasonally adjusted basis — rose 0.9% in August, following a 1.6% increase in July. On a year-over-year basis, prices rose 2% compared with August 2011.
Retail sales rose 0.5% for the week ending October 27, according to the ICSC-Goldman Sachs index. On a year-over-year basis, retailers saw sales increase 2.7%.
Manufacturing activity rose to 51.7 in October after a reading of 51.5 in September. A reading above 50 signals expansion. This is the second uptick in manufacturing following three consecutive months of slight contraction.
The consumer confidence index rose to 72.2 in October from a revised 68.4 in September. It was the highest level since February 2008. The index was benchmarked at 100 in 1985, a year chosen because it was neither a peak nor a trough in consumer confidence.
The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending October 26 fell 4.8%. Refinancing applications decreased 6%. Purchase volume rose 1%.
Total construction spending rose 0.6% to $851.6 billion in September, following a revised 0.1% decrease in August. Compared to September 2011, construction spending has risen 7.8%.
Factory orders rose 4.8% in September to a seasonally adjusted $475.4 billion, following a 5.1% decrease in August. Excluding the volatile transportation sector, orders increased 1.4% in September.
Initial claims for unemployment benefits for the week ending October 27 fell by 9,000 to 363,000. Continuing claims for the week ending October 20 rose by 4,000 to 3.26 million. Employers added 171,000 jobs in October. However, the unemployment rate rose to 7.9% in October from 7.8% in September due to more people entering the labor force.
Upcoming on the economic calendar are reports on international trade on November 8 and wholesale trade on November 9.
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.com
Click here to visit Craig's website and apply online: http://myprospectmortgage.com/CHaueisen
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