LUNAR ECLIPSE OVER MAUI
August 30th, 2007
ECONOMIC AND HOUSING NEWS
August 30th, 2007We received a mixed-bag today. First the good news. GDP for the second quarter (ended June) was revised upwards to 4%, an outstanding number.
UGLY SHILLER REPORT
August 28th, 2007Standard and Poor's Case-Shiller Index is a composite of single-family home sales results in the 20 largest US cities. They reported their second quarter numbers today and the news was not good.
MAUI VACATION RENTALS
August 27th, 2007As you probably know, there is a controversy going on regarding the future of transient accommodations (vacation rentals) in non-hotel zoned properties. In the past, the County has tended to look the other way except in the cases of ongoing complaints. We are sympathetic to the views that zoning regulations should be followed, period. However, after so many years of active non-enforcement, we believe the impact of shutting down bed and breakfasts would cause economic hardship for owners, damage the visitor industry on Maui and drive potential visitors to other destinations. Rather than shut-down, the County should force all such existing businesses to register and be subject to good conduct provisions.
JULY EXISTING SALES REPORT
August 27th, 2007The National Association of Realtors has released their July existing homes sales data.
STRONGER JULY HOUSING SALES
August 27th, 2007The US Census Bureau released the national sales figures for existing homes for July today and the numbers were better than expected.
BANK OF AMERICA AND COUNTRYWIDE
August 22nd, 2007Bank of America has taken what is the equivalent of a 16% stake in Countrywide Financial, the nation's largest mortgage lender. The size of the investment is $2 billion.
NOT GOOD
August 22nd, 2007Home foreclosures in Hawai'i continued growing last month over a year ago, though the local foreclosure rate was sixth-lowest among states, according to a report from RealtyTrac. The Irvine, Calif.-based real-estate research firm said there were 85 Hawai'i foreclosure filings in July, up 60 percent from 53 in the same month last year
BACCARAT WAILEA UPDATE
August 21st, 2007The new Baccarat Wailea project, on the site of the Renaissance Wailea Hotel has released more units. These units are scattered throughout the complex and range from $1.8 million for a one-bedroom in the central part of the resort, to $8.5 million for a gigantic three-bedroom unit on the beach. For more information contact us!
MORGAN STANLEY SPEAKS ON ECONOMY
August 20th, 2007
We are all aware of the dislocation in the mortgage and financial markets. The question for Maui property owners is "what doe sit all mean?" Here is Morgan Stanley's take on what will take place. Some snippets:
