This New York Times article discusses the phenomenon of potential buyers bringing friends or relatives back for help with second showings.

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The University of Hawaii Economic Research Organization (UHERO) has released its latest economic research. Here arer some key snippets:

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Honua'ula, formerly Wailea 670, received zoning approval from the Maui County Council early this morning in a 5-4 vote.

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We are pleased to announce the listing of Hale Lae at 7640 Makena Road.. Few places on earth can match the splendor of the Makena coastline. The waves lapping against the lava rock, the ever-shifting colors of the Pacific and Makena's natural solitude combine to create an extraordinary opportunity for relaxation and reflection. Within Makena, the Ahihi-Kinau Nature Reserve encompasses all the shoreline from Ahihi Bay to La Perouse Bay and is home to dolphins, turtles, whales and numerous hiking trails and fishing spots.Hale Lae sits on a private promontory within the reserve, behind a lava rock wall and security gates  and is surrounded on three sides by the Pacific Ocean which colors bursts upon one when entering the front door.. By opening the sliding doors on both the upper and lower floors, one brings the outside inside and creates a dramatic 270 degree vista that includes Kao'holawe, Molikini, Lanai and yet no other homes. Hale Lae in this configuration provides the feeling of a return to the Polynesia of yesteryear when things were simpler and mankind closer to nature. Yet from that peaceful feeling arises a hideaway built of luxury materials including Redwood, Ipe, Mahogany and limestone which is full of current conveniences. The granite and marble counters compliment the state of the art appliances including a La Cornue Gas Range and Sub Zero refrigeration. High speed Internet access, satellite television and a full security system provide a complete twenty-first century experience. More details and a virtual tour is available at www.7640makenaroad.com.  

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The Federal Reserve Board of Governors has announced a reduction of 75 basis points in the overnight lending rate.

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We have been getting lots of questions regarding the sale of investment bank Bear Stearns and what it may mean for the mortgage market and Maui Real Estate. Our judgement is that it doesn't mean much. Since 1987, EF Hutton, Drexel Burnham Lambert, First Boston, Salomon Brothers and Kidder Peabody have all disappeared and the lasting impact has been nil. What happened to Bear is directly analagous to a "run on a bank." Their counterparties simply lost confidence in them and they could not survive. While their initial problems were mortgage backed securities related, ultimately that is NOT  what did them in.

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Maui real estate's newest offering is Nu'u Aina Estates, a new development set along the fairways of the Elleair Golf Course. The complex will consist of thirty-four single-family homes in a condominium format and thirty-four townhouses. The ocean views will be very strong and the complex will offer a pool, spa and clubhouse. The construction will include Brazilian granite, Italian Marble, Balinese tiles, African Mahogany and Imperial plaster. This "smart home" development will maximize green space and view corridors. Pricing will be released shortly and we will keep you apprised.

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Researchers on the Big Island have drilled and found an enormous unexpected supply of fresh water. Why does this matter for Maui real estate? Because water limitations are frequently cited as a reason for stopping development and because the same researches believe Maui may have a similar geologic formation:

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We will be announcing in the next few days the listing of another oceanfront property. This remarkable home will take your breath away. Check back for pictures and more details.

Global Insight and National City Group have released their latest piece of research on the national housing market. Some key snippets follow:

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