Aloha & Good Morning!
The current Maui temperature
today will be a high of 82 degrees. We can expect some showers in the
morning and a cloudy afternoon.
Saturday's special event for the Windermere Foundation was a
success! The 2nd Annual Sharing, Shopping and Symphony Event was really
over-the-top and I am so glad to be a part of such a great
organization. I hope to have pictures and more info to share with you
next week.
This week I want to share with you the
First Hawaiian Bank Economic Forecast.
This report is loaded with great information for the local Hawaii
economy. In the report you will see forecasts and data presented by Dr
Leroy Laney who is the Economic Advisor to First Hawaiian Bank and a
Professor of Economics and Finance at Hawaii Pacific University. He has
some great predictions for 2013 that shows gains in job growth, visitor
arrivals and more.
If you want a see Maui specific data you can skip up to page 6. Dr
Laney shows that Maui county has an uptick in construction activity and
that we are the only county to have that kind of increase. He also lays
out a nice list of current and future construction projects on Maui.
In Real Estate, Dr Laney has the same message that I have been saying...
this is the time to buy and if you wait you may not find the property
you were hoping to get. With low mortgage rates and prices at their
current levels it is a great time to get into the Maui market!
The entire report is available at the link below.
ARTICLE: Economic Forecast
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,
BLOGGER and
PINTEREST
Lender Corner by Craig Haueisen
Last Week In The News
Orders for durable goods — items expected to last three or more years
— increased slightly to $216.9 billion in October. This increase
follows a downwardly revised 9.2% increase in September. Excluding
volatile transportation-related goods, October orders posted a monthly
increase of 1.5%.
The Standard & Poor's/Case-Shiller 20-city housing price index —
on a non-seasonally adjusted basis — rose 0.3% in September, following a
0.8% increase in August. On a year-over-year basis, prices rose 3%
compared with September 2011.
The Mortgage Bankers Association said its seasonally adjusted
composite index of mortgage applications for the week ending November 23
fell 0.9%. Refinancing applications decreased 2%. Purchase volume rose
3%.
New home sales fell 0.3% in October to a seasonally adjusted annual
rate of 368,000 units from a downwardly revised rate of 369,000 units in
September. On a year-over-year basis, new home sales were up 17.2%
compared with October 2011. At the current sales pace, there's a
4.8-month supply of new homes on the market.
The Commerce Department announced that gross domestic product — the
total output of goods and services produced in the U.S. — increased at
an annual rate of 2.7% in the third quarter of 2012, compared to the
initial estimate of 2%. This follows a 1.3% pace of growth in the second
quarter of 2012.
Pending home sales, a forward-looking indicator based on signed
contracts, rose 5.2% in October after a revised 0.4% increase in
September. On a year-over-year basis, pending home sales were up 13.2%
compared with October 2011.
Initial claims for unemployment benefits for the week ending November
24 fell by 23,000 to 393,000. Continuing claims for the week ending
November 17 fell by 70,000 to 3.287 million.
Upcoming on the economic calendar are reports on construction spending on December 3 and factory orders on December 5.
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
