Wednesday, April 24, 2013

Wednesday Morning Coffee on Maui - 04/24/13



Aloha & Good Morning!

Today Maui will have abundant sunshine and a high 84 degrees!    

Real Estate is hot right now!  From statistics on the mainland to our own little island gem the buzz is out there.  I've been reading a lot of great articles that support this and I wanted to pass this along to you.  If you have been sitting on the "fence" and waiting for the right time to buy then you should know that this is the time.  The inventory on the market is tight and that is leading to the demand and the resurgence of multiple offers on properties.  By knowing what you want, what you can afford and coming into the market with a preapproval you will most likely find the property you are looking for.  Just be aware that the current market condition won't last for long.  Interest rates are still low so get in while you can and forgo the regret of waiting too long to buy something.

Desire To Buy Increasing As Confidence Returns - We are at a three-year high where 79% of Americans say that owning a home is essential to the American-Dream.
Target to open first Maui store in 2014 - The long awaited Target on Maui is set to open next year. This is sure to bring more jobs to Maui and increase the overall economic health of our island.
Homebuilding Soars to Highest Level in Four Years
Zillow: Home Values to Grow 22% Through 2017

SOUTH MAUI BACK ON THE MARKET!
HALEAKALA GARDENS  #11G - BANK ACCEPTED SHORT SALE FOR ONLY $195,000!!!! Nice location in this residential condo complex in Kihei, the sunny side of Maui! This unit was completely remodeled in 2005 and has been very well cared for since. Beautiful view of Keawe trees through the large picture window in living room. Solar exhaust fans installed and air vents installed (and approved by AOAO) at the roof peak of the interior walls, to help keep the unit cool!



SOUTH MAUI HOT BUY!
WAILEA EKAHI VILLAGE #1C - NEW PRICE!!! MOTIVATED SELLER!! One of the most sought after BEACH front complex in beautiful Wailea. The serene location of this 1st floor unit provides ocean views from the kitchen and patio area. This private 1br/1ba unit is great for a second home or vacation rental property. Wall-to-wall mirrors in the living and dining area create a large inviting space. The freshly painted kitchen includes stainless steel appliances which opens to the living & dining room...great for entertaining. The unit offers tiled flooring, new carpeting in the bedroom, several spacious closets, 2 large private patios, stackable washer/dryer, split a/c systems & so much more! Condo is fully furnished and ready to move in. Within close proximity to one of four pools that are offered at Ekahi Village. Paddle board great for game play. Nice stroll through the property's greenbelt, down towards the beach pavilion, pass the enclosed beach pool area, you will find one of Maui's best beaches ...Keawakapu Beach....approximately 1200 yards of white soft sand to play, relax, and enjoy. The complex itself is surrounded by multimillion dollar homes and minutes from world-class resorts, golf courses, restaurants, and so much more! Feel the magic of Maui breezing through you as you enjoy the island lifestyle that this unit has to offer.


KIHEI ALII KAI #D106 - Fantastic South Kihei location, behind the Denny's shopping center, across the street from Kamaole I Beach. Complex allows for short term and long term rentals. Large lanai in this beautiful resort complex. Tennis courts on roof top over covered parking. One of the few condos in Kihei with covered parking! It also boasts tropical foliage throughout, giving a fabulous outdoor feel while walking/strolling to your unit. Large swimming pool directly in the center, sauna, hot tub and BBQ's. The swimming pool has been recently re-tiled, and brand new BBQ's. Small ocean view on lanai. Kitchen remodeled in 2008 and bathroom vanity replaced. Tile throughout to keep it cool and clean. The unit itself is in a very convenient location in the complex and it matters where you are when you walk up and down the stairs. This unit is also positioned well, typically having a great cross breeze through the unit. Tenant states he didn't turn the ac on at all in this really hot summer Kihei just had. This unit is very close to the covered parking. It is ground floor and positioned near the beginning of the building, where there is a rare person that might walk by. Typically there is no one going past this lanai and it feels very private! Fabulous location for the entire complex as well; minutes to Kamaole I Beach, restaurants, shopping and many activities. Tenant occupied and would love to stay. Unit being sold fully furnished. Pictures of Kamaole I Beach were taken across the street at the beach, not from the unit.



UPCOUNTRY HOT BUY!
1630 OLINDA ROAD - Magnificent Southside to North shore Ocean, Pasture and West Maui Views from this exquisite, Olinda custom home. Full attention to detail and fine craftsmanship throughout. Attached guest quarters and 3 car garage, plus separate office and workshop building. Waterfall cascades into beautiful pool and spa just a few steps off of the lanai. Beautiful grounds with organic gardens and abundant fruit trees. Ideal temperate year-round climate and just minutes to Seabury Hall and charming Makawao town. Main home features an ultimate kitchen fit for a king-queen-chef with an large island, commercial grade wolf range, 2 dishwashers, 2 sinks, built in full refrigerator and separate freezer, exquisite custom Koa cabinets, built in desks & Mango floors. Living area, which opens off of kitchen, features beautiful rock fireplace, 100” retractable drop screen for TV, HD projector, beautiful soffit and lighting. Master Suite downstairs with three full bedrooms and two baths upstairs. Specialized sauna, steam shower, exercise room with huge double laundry room/workshop. Steps away and separate, but under the same roof, enjoy the large, spacious and open upstairs guest quarters. Central heat throughout although rarely necessary in this ideal climate zone. Security system, Sound system, Water Filtration, Photovoltaic system, Passive Solar for pool, Heated floors in office and master bedroom. Trees include Koa, Norfolk pine, avocado, cherimoya, oranges, lemon, lime, grapefruit, kefir limes and bananas.




   
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Lender Corner by Craig Haueisen                                                                                         
Last Week In The News
The combined construction of new single-family homes and apartments in March rose 7% to a seasonally adjusted annual rate of 1,036,000 units. Single-family starts decreased 4.8%. Volatile multifamily starts rose 31.1%. Compared to the previous year, housing starts were up 46.7% in March. Applications for new building permits, seen as an indicator of future activity, fell 3.9% to an annual rate of 902,000 units.
The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending April 12 rose 4.8%. Refinancing applications increased 5%. Purchase volume rose 4%, the highest level since May 2010.
The National Association of Home Builders/Wells Fargo monthly housing market index fell two points in April to 42. An index reading below 50 indicates negative sentiment about the housing market.
Consumer prices fell 0.2% in March, following a 0.7% increase in February. Compared to March 2012, consumer prices have risen 1.5%. Consumer prices at the core rate — excluding volatile food and energy prices — were up 0.1% in March.
Industrial production at the nation's factories, mines and utilities rose 0.4% in March after a 1.1% increase in February. Compared to March 2012, industrial production has increased 1.9%. Capacity utilization rose to 78.5% in March from 78.3% in February.
Initial claims for unemployment benefits for the week ending April 13 rose by 4,000 to 352,000. Continuing claims for the week ending April 6 fell by 35,000 to 3.06 million. The less volatile four-week average of claims for unemployment benefits was 361,250.
Upcoming on the economic calendar are reports on existing home sales on April 22, new home sales on April 23 and gross domestic product on April 26.
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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