A GREAT SYNOPSIS
August 15th, 2007Of what is transpiring in the financial markets can be read here. 10 questions answered.
SO WHAT DOES IT ALL MEAN?
August 15th, 2007Another difficult week in the financial and mortgage markets and the housing sector. The credit markets remain in a bad way as illustrated by KKR's losing $40 million in mortgage-backed securities, the complete lack of new issues in the high yield market, the Federal Reserve injecting $38 billion into the banking system and Goldman Sachs announcing significant losses in its Global Alpha investment fund. The most recent news today is that Countrywide Financial, the country's largest mortgage lender, is facing financial distress. While home prices were flat, unit sales continue to show weakness according to the latest NAR release. The index of homebuilder confidence plummetted again in August and is now near it all-time low.
Wailea Gateway Breaks Ground
August 13th, 2007The latest commercial space in Wailea, Wailea Gateway Center has broken ground. This 30,000 square foot space is located at the corner of the Piilani Highway and Wailea Ike at the entrance top the Wailea Resort. There will be a restaurant and office/retail space. From the brochure it looks as though they are accepting rental reservations.
ANOTHER TOM AND SEAN LISTING
August 10th, 2007We are pleased to announce the listing of Na Hale O Makena unit B-302. This wonderful two bedroom unit boasts over 2100 square feet of living space in one of the quietest and most luxurious complexes in South Maui. The property has been listed for 2.19 million.
HONUAULA UPDATE
August 9th, 2007Honua'ula, formerly Wailea 670 is still making concessions to attempt to get the project approved by the County Council. Here is there latest proposal:
LATEST NAR REVISION
August 8th, 2007Well the National Association of Realtors has made another downward revision to their expected home sales for 2007. This one is due to the fallout from the subprime lending problems and the subsequent turmoil in the credit markets.
FED LEAVES RATE UNCHANGED
August 7th, 2007In a meeting today the Federal Open Market Committee maintained the Federal Funds Rate at 5.25%.
JUMBO MORTGAGE ISSUES
August 6th, 2007According to today's Wall Street Journal, even well-heeled, high-end buyers are starting to see access to mortgage credit become more difficult.
THE WEEK AT WAILEA FAIRWAY VILLAS
August 6th, 2007It was a very busy week at Wailea Fairway Villas. Unit D-102, listed for $709,000 (down from $859,000) and D-201, listed for $850,000 (down from $975,000) have both gone into escrow. Unit P-102 has been listed for $729,000. At that price that unit is a real value.
JULY WAILEA CONDOMINIUMS SALES
August 4th, 2007In July, condominium unit sales in Wailea/Makena were approximately flat to 2006. Median sales price at $968,000 was down compared to both July 2006 and the first six months of 2007. The per square foot average of $1,014 also declined . Oceanfront complexes saw a median sale price of $1.395 million and a per square foot average of $1,117, both down, primarily due t sales mix. Half the oceanfront sales were in Wailea Ekahi. Mountainside complexes obtained a median sale price of $905,000 and a per square foot average of $963. These solid numbers were due to the sale of several premier units which had excellent views and had been remodeled.
