Wednesday, June 25, 2014

Wednesday Morning Coffee on Maui - 6/25/14

Aloha & Good Morning!  
Today Maui will be sunny with highs in the upper 80's!

I love when I can help both my buyers and my sellers.  Every week there are new articles posted to the Real Estate Sales Maui website.  There are three places you can find these great articles.  The first location is on the home page on the right side under “Latest Maui Real Estate News”.  When you browse this section by clicking on the link you will be able to see several years’ worth of news articles that have been posted to the website.  

For more specific information there are two sections where you can find buyer specific news and seller specific news.  These sections of the website contain the same news articles from the main news section.  However, they have been categorized for each side of the transaction.  

This week I read two articles that I posted on the Real Estate Sales Maui website and I want to share them both with you.  The first is a great article for sellers and this topic comes up more often than anyone would like.  The question is what happens when your buyer defaults.  This can happen at any time and depending on where you are in the process there are different approaches a seller can take.  Most consequences for default are spelled out in the contract between the buyer and the seller but sometimes it requires more intervention then that.  It is always good to know what to expect before going into a contract.  If you are curious about this process I will be happy to answer your questions and go over the specifics with you even before you list your property.  What I liked about this article is that it advices that you speak with an attorney with real estate knowledge before making any decisions.  This is really key because they will know more about the specifics that will help you with a proper resolution. 

ARTICLE: If Your Buyer Defaults, What Are Your Rights?

The next article I posted was for buyers.  This article has five home buying and home owning challenges listed.  Obviously there are many (many) more items we could list but for the purpose of this article I thought it addressed some major topics that come up.  The second item in this article was of particular interest as it happens often; the appraisal comes in very low.  What do you do then?  The author of this article says you can (and should) object and ask for a copy of the appraisal (which you should always get).  This knowledge can come in handy when buying a home or refinancing an existing home.  

ARTICLE: 5 Homebuying and Homeowning Challenges and How to Deal With Them

Buying and selling real estate should be fun and give you opening to new adventures in ownership  Just be prepared for the bumps and have a good real estate agent to help bring you through the process.  Contact me to buy or sell real estate on Maui anytime. 

Lastly, I want to share an article from The Maui News.  This is just another vote for Maui and this time comes from US News and World Report.  Early this week it was announced that Maui is the best place to visit in the U.S. and the fourth best place in the world.  It is truly why we can say Maui No Ka ‘Oi and that means that Maui is the best! 

ARTICLE: Maui Voted Best Place To Visit In U.S.


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.




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Wednesday, June 18, 2014

Wednesday Morning Coffee on Maui - 6/18/14



Aloha & Good Morning!                                                  
Today Maui will be sunny with highs near 890!

You know how much I like to bring you good news as well as helpful news.  We all need to have the most up-to-date information when it comes to buying or selling our property.  This past week I’ve been reading a lot about the housing market and specific Hawaii real estate news.  I found the following articles really helpful and wanted to share them with you. 

As always, you can contact me anytime to discuss your home buying or selling needs!

NEWS

Hawaii's foreclosures fall by almost half in May, RealtyTrac says - Foreclosures in Hawaii fell 48 percent during May and the national foreclosure rate was the lowest since 2006, according to a report from real estate data service RealtyTrac.

Nearly half of Hawaii homes bought with cash in the first quarter - RealtyTrac says that 48 percent of home sales in Hawaii were made in cash during the first quarter.

Hawaii has 11 of the 20 best beach town housing markets, according to RealtyTrac – Four of these beach towns are right here on Maui!

REALTORS® Price Expectations by State in Next 12 Months Based on April 2014 REALTOR® Survey – The expected price increase in Hawaii is listed at greater than 5% to 6%

The Latest Mortgage Purchase Applications - There was a surge in the number of people filing for mortgages in the first week of June.



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
The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending June 6 rose 10.3% from the previous week. Purchase volume rose 9%. Refinancing applications increased 11%.
Retail sales rose 0.3% to $437.6 billion in May. This follows a revised 0.5% increase in April. Compared to a year ago, May retail sales have increased 4.3%.
Wholesalers increased their inventories 1.1% to $530.6 billion in April. Sales at the wholesale level rose 1.3% to $450.2 billion in April. On a year-over-year basis, sales were 7.8% higher than April 2013. The seasonally adjusted wholesale inventories/sales ratio in April 2014 was 1.18.
Import prices rose 0.1% in May, following a 0.5% decrease in April. On a year-over-year basis, import prices were up 0.4% in May. Export prices also rose 0.1% in May, following a 1% decrease in April. Compared to a year ago, export prices were up 0.5% in May.
Total business sales increased 0.7% to $1,337.4 billion in April, up 5.4% from a year ago. Total business inventories rose 0.6% to $1,728.3 billion in April, up 5% from a year ago. The total business inventories/sales ratio in April was 1.29.
The Reuters/University of Michigan consumer sentiment index for June’s initial reading fell to 81.2 from May’s final reading of 81.9. The current conditions component rose from 94.4 to 95.4. The expectations component fell from 73.7 to 72.2.
Initial claims for unemployment benefits for the week ending June 7 rose by 4,000 to 317,000. Continuing claims for the week ending May 31 rose by 11,000 to 2.614 million. The less volatile four-week average of claims for unemployment benefits was 315,250.
Upcoming on the economic calendar are reports on the housing market index on June 16 and housing starts on June 17.
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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Wednesday, June 11, 2014

Wednesday Morning Coffee on Maui - 6/11/14

Aloha & Good Morning!
   Today Maui will be sunny with highs in the upper 80’s!
The Realtor’s Association of Maui recently released the May sales statistics.  As I have done in previous months, you will see two sets of numbers.  The first set shows you how many units sold in each of the three categories: residential sales, condo sales and vacant land sales.  The second set of numbers shows you the median price for each category.  Each set of data compare the numbers for sales made from January through May and we look at 2014 vs. 2013. 
While you can see that there was a dip in the number of units that sold for both residential sales and land sales, there is a clear indication of a price increase.  The market is hot right now and I am seeing a ton of business for both myself and others on Maui.  Sellers are out there and the buyers who come in with strong offers will enter into contract.  I loved the statement made by the Realtors Association of Maui in their monthly report.  The group says that sellers need to beat competitors by offering competing property in better shape and for a realistic price. 
REPORT: May RAM Report
See the full Realtors Association of Maui report for May 2014

If you have any thought of buying a Maui vacation property or any other Maui county property this year then I highly suggest you start shopping now.  Real Estate Sales Maui makes this part fun and easy with our free mobile app.  You can download it today and start looking for your Maui dream address on your table or smart phone. 


 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
Total construction spending rose 0.2% to $953.5 billion in April. Compared to April 2013, construction spending has risen 8.6% on a year-over-year basis.
The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending May 30 fell 3.1% from the previous week. Purchase volume fell 4%. Refinancing applications decreased 3%.
Manufacturing activity rose to 55.4 in May after a reading of 54.9 in April. A reading above 50 signals expansion. It was the 12th consecutive month of expansion, and the overall economy grew for the 60th consecutive month.
Factory orders rose $3.4 billion, or 0.7%, in April to a seasonally adjusted $499.8 billion. This follows a 1.5% increase in March. Excluding the volatile transportation sector, new orders increased 0.5% in April.
The trade deficit increased from $44.2 billion in March to $47.2 billion in April. Exports fell $0.3 billion to $193.3 billion. Imports increased $2.7 billion to $240.6 billion.
Retail sales rose 2.9% for the week ending May 31, according to the ICSC-Goldman Sachs index. On a year-over-year basis, retailers saw sales increase 3.1%.
Non-manufacturing activity rose to 56.3 in May from 55.2 in April. A reading above 50 signals expansion. It was the 52nd straight month of expansion in the services sector.
Initial claims for unemployment benefits for the week ending May 31 rose by 8,000 to 312,000. Continuing claims for the week ending May 24 fell by 20,000 to 2.603 million, the lowest level since October 2007. The less volatile four-week average of claims for unemployment benefits was 310,250, the lowest level since June 2007.
The unemployment rate remained unchanged at 6.3% in May. Employers added 217,000 jobs in May and revised the April figure of jobs gained from 288,000 to 282,000.
Upcoming on the economic calendar are reports on wholesale trade on June 10 and retail sales on June 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/CHaueisen
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