Aloha & Good Morning!
Maui's forecast for today will include rain, rain and some more rain but we need it to help keep our island green and supply us with the water we all need.
Year End Sales Stats
The Realtor's Association of Maui recently released the sales statistics for 2013. The numbers are comparing the 12 months of 2013 with the 12 months of 2012. 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. The first data table shows the total number of units sold for the months from January through December for 2012 and 2013. The second grid of numbers shows the median sales price for the same time frame.
2013 was a good year for steady growth. From the numbers below you can see that both the number of units sold and the median price were up in all three categories. This coupled with the news below about Maui's decrease in unemployment have set us up for a great 2014.
Over the last year we have seen a steady rise in prices which has brought inventories up. 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. My business for both buyers and sellers has grown tremendously over the last few months and I expect 2014 to be a great year for all.
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
VIDEO: Maui Unemployment Rate Lowest Since 2008- Watch this quick video given from the Mayor of Maui on the state of our lowest unemployment rate since 2008.
Maui Panoramic Photos- This has little to do with Maui real estate and is all about the beautiful photos that have been taken on this island. Just simply stunning!
NEW LISTING
Gorgeous, completely remodeled condo, currently being used as a thriving vacation rental! New EVERYTHING! Kitchen countertops were moved back 10 inches, allowing for much more space in that area. New granite countertops and stainless steel appliances. Bamboo hardwood flooring and travertine throughout. New beds with high end bedding. Both rooms a/c's were replaced in 2013 with high efficiency models. There was nothing untouched in this unit and it awaits a new owner. Beautiful complex with lava rock water fountains boasts a little "Asian flare". The grounds are quite lush and beautifully kept. Located across the street from the Whale Sanctuary and the Kolepolepo Ancient Fish Pond. Don't miss this opportunity to won a gorgeous renovated unit in a fantastic complex! **A couple of original paintings are not included with the sale**
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
Looking for the current Bank Owned Foreclosures on Maui? Click HERE.
Lender Corner by Craig Haueisen
Last Week In The News
Existing home sales rose 1% in December to a seasonally adjusted annual rate of 4.87 million units. Existing home sales for all of 2013 were 5.09 million, 9.1% above 2012 and the highest rate since 2006, when sales reached 6.48 million. The inventory of unsold existing homes on the market fell 9.3% to 1.86 million in December, a 4.6-month supply at the current sales pace.
The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending January 17 rose 4.7% from the previous week. Purchase volume fell 4%. Refinancing applications increased 10%.
The index of leading economic indicators — designed to forecast economic activity in the next three to six months — rose 0.1% in December, following a 1% increase in November.
Consumer prices increased 0.3% in December, following a flat reading in November. Compared to a year ago, December consumer prices have risen 1.5%. Consumer prices at the core rate — excluding volatile food and energy prices — were up 0.1% in December.
Industrial production at the nation's factories, mines and utilities rose 0.3% in November after a 1% increase in October. Compared to a year ago, industrial production in November increased 3.7%. Capacity utilization rose to 79.2% in November from 79.1% in October. Industrial production is now 0.9% above its pre-recession peak in December 2007.
Retail sales fell 1.9% for the week ending January 18, according to the ICSC-Goldman Sachs index. On a year-over-year basis, retailers saw sales increase 0.9%.
Initial claims for unemployment benefits for the week ending January 18 rose by 1,000 to 326,000. Continuing claims for the week ending January 11 rose by 34,000 to 3.056 million. The less volatile four-week average of claims for unemployment benefits was 331,500.
Upcoming on the economic calendar are reports on new home sales on January 27, the housing price index on January 28 and pending home sales on January 30.
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
