Aloha & Good Morning!
The current Maui temperature today will be a
high near 79 degrees with partly cloudy skies and a chance of a shower.
We saw the fiscal cliff deal play out on our news channels last week and they have come to an agreement in congress... but what does that mean for real estate?
Real Estate Tax
Extenders:
- Mortgage Cancellation Relief is extended for one year to January 1, 2014
- Deduction for Mortgage Insurance Premiums for filers making below $110,000 is extended through 2013 and made retroactive to cover 2012
- Leasehold Improvements: 15 year straight-line cost recovery for qualified leasehold improvements on commercial properties is extended through 2013 and made retroactive to cover 2012
- Energy Efficiency Tax Credit: The 10% tax credit (up to $500) for homeowners for energy improvements to existing homes is extended through 2013 and made retroactive to cover 2012.
KIHEI HOT BUY
Check out
this Maui HOT BUY! This 1bd/1ba is located in the popular Maui Vista
community. The unit is located in the
1st building, closest to World Class Kamaole I Beach. This unit is also offers the privacy of the
3rd floor and the sunset views out the lanai.
View the
full listing - HERE!
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
Retail sales rose 0.6% for the week ending December 29, according to the
ICSC-Goldman Sachs index. On a year-over-year basis, retailers saw sales
increase 2.7%.Manufacturing activity rose to 50.7 in December after a reading of 49.5 in November. A reading above 50 signals expansion.
Total construction spending fell 0.3% to $866 billion in November, following a downwardly revised 0.7% increase in October. Compared to November 2011, construction spending has risen 7.7%.
The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending December 28 fell 21.6%. Purchase volume fell 14.8%. Refinancing applications decreased 23.3%.
Factory orders rose $200 million in November to a seasonally adjusted $477.6 billion. This follows a 0.8% increase in October. Excluding the volatile transportation sector, orders increased 0.2% in November.
Non-manufacturing activity rose to 56.1 in December from 54.7 in November. A reading above 50 signals expansion. It was the 36th straight month of expansion in the services sector.
Initial claims for unemployment benefits for the week ending December 29 rose by 10,000 to 372,000. Continuing claims for the week ending December 22 rose by 44,000 to 3.245 million. The less volatile four-week average of claims for unemployment benefits was 360,000. The unemployment rate remained unchanged at 7.8% in December. Employers added 155,000 jobs in December.
Upcoming on the economic calendar are reports on wholesale trade on January 10 and international trade on January 11.
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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