Aloha & Good Morning!
Today's forecast for Maui will be sunny with
highs in the 80's.
November Sales Stats
The Realtors Association of Maui recently released the November Sales Statistics. I've made a comparison chart for the data below that looks at the same time period for both 2012 and 2013.
In the data tables below
you will find two sets of numbers for residential, condo and land sales. The first data table shows the total number
of units sold for the months from January through November for 2012 and
2013. The second grid of numbers shows
the median sales price for the same time frame.
For ten months of this
year we've seen positive gains in all three categories for both the number of
units sold and the median sales price.
With prices rising we have seen inventories rise as we see owners who are ready to list their properties. This is good for both buyers and sellers. For buyers it means there is more inventory on the market to look at. For sellers it means that a well-priced property will sell within a reasonable amount of time.
I am looking forward to
next month's report from RAM where we can see the entire year as a whole and we
can consider the market trends for 2014.
I see a very busy year for both buyers and sellers as this market
continues to grow and both sides are able to benefit from the prosperity.
Please contact me today
to find out if your property is ready to sell.
I have great tools at my fingertips to help you know what the comparable
sales have been in your neighborhood.
There are several new articles on the Real Estate Sales Maui website for both active buyers and motivated sellers. Please check them out below for more details. As always you can find more great articles on the RESM website in the Sellers News Section and the Buyers News Section. New articles are posted several times a week to keep you up-to-date and informed. We also post current real estate news on the RESM FB page and the RESM Twitter page. Please join us there and be a part of this great team!
ARTICLES
Expected Price Growth Strongest in West and South - This is a nice graphic from the National Realtors Association that shows the expected price increases for 2014. Hawaii is among the high end.
Why It Might Be Cheaper To Buy Now - Mortgage rates are nearing the 5 percent mark, prompting many home buyers to rush to take advantage of rates while they're still low.
Lenders Loosen Down Payment Requirements - Lenders' tight underwriting standards have been blamed for sidelining many potential home buyers the last few years. But lenders may be showing signs of loosening up a bit.
Glamping In Hawaii: Your Answer To The Stereotypical Resort Vacation - I loved these great ideas! The resorts are nice but the real Hawaii is in the land, in the jungles, along the beaches and up the mountains. Interested in more... give me a call. I know of some amazing places to camp.
Don't forget to get your name in for this
year's exciting iPad 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
New home sales rose 25.4% in October to a seasonally adjusted annual rate of 444,000 units. On a year-over-year basis, new home sales were 21.6% higher than October 2012. At the current sales pace, there is a 4.9-month supply of new homes on the market.
Total construction spending rose 0.8% to $908.4 billion in October. Compared
to October 2012, construction spending has risen 5.3% on a year-over-year
basis.
The Mortgage Bankers Association said its seasonally adjusted composite
index of mortgage applications for the week ending November 29 fell 12.8%.
Purchase volume fell 4%. Refinancing applications decreased 18%.
Manufacturing activity rose to 57.3 in November after a reading of 56.4 in
October. A reading above 50 signals expansion. It was the sixth consecutive
month of expansion and the strongest reading since April 2011.
The trade deficit decreased from $43 billion in September to $40.6 billion
in October. Exports rose $3.4 billion to $192.7 billion. Imports increased $1
billion to $233.3 billion.
Non-manufacturing activity fell to 53.9 in November from 55.4 in October. A
reading above 50 signals expansion. It was the 47th straight month of expansion
in the services sector.
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 3.6% in the third quarter of 2013. This follows a 2.5% pace of growth in the
second quarter of 2013.
Initial claims for unemployment benefits for the week ending November 30
fell by 23,000 to 298,000. Continuing claims for the week ending November 23
fell by 21,000 to 2.744 million, a new recovery low. The less volatile
four-week average of claims for unemployment benefits was 322,250. The
unemployment rate fell from 7.3% in October to 7% in November, the lowest it
has been since November 2008. Employers added 203,000 jobs in November.
Upcoming on the economic calendar are reports on wholesale trade on December
10 and retail sales on December 12.
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/
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