Aloha & Good Morning!
Today Maui will be mostly sunny with highs in the upper 80’s!
I love real estate data as it helps me have a better view of the current market and the historic market trends. That allows me to see the big picture of where the market is going. I hope you all enjoy the monthly sales stats that I report from the Realtors Association of Maui (RAM). I find that having a month-to-month overview along with the quick comparison to last year really helps.
In addition to the RAM monthly reports, I also like Zillow. What I really like on Zillow is the way they present the gathered data. They collect info from the multiple listing service on Maui and are in-line with the reports from RAM. Zillow has simple visual charts to give a view to the data. I’ve listed some of the charts I found really interesting below. Also of interest, Zillow reports a 14.3% increase in home values over the past year. They also report the median list price per square foot on Maui is $517.
ZILLOW HOME VALUE INDEX 2005-2014
AVERAGE DAYS ON ZILLOW 2011-2014
MEDIAN ZILLOW HOME VALUE INDEX - PER CITY
I also wanted to share an article from CNN Money. This article is about the way mortgage lenders are changing requirements for high dollar value home loans. In particular, lenders are now requiring smaller down payments and in some cases waiving the mortgage insurance. Additionally, the Mortgage Bankers Association jumbo loan rates (mortgages over $417,000 or over $625,500 in high priced markets) was 4.24% earlier this month. That is compared to 4.36% for a conventional 30-year, fixed-rate mortgage.
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