Robert Myers

It seems as though we've been seeing a lot of recalls in the automotive department lately. The latest has come from what many Maui residents consider the most reliable company. That is Toyota. Their vehicles are known for lasting a very long time with little maintenance. For this reason, the recall may come as quite a surprise.

About 94,000 year 2011 Sienna vehicles (produced before November 2010) will be recalled in the next couple of months. Owners of these vehicles will be contacted, fortunately, but not until mid-January, when the first notice will arrive, and late February when the second notice will arrive. The second notice will be sent out as replacement parts arrive. Of course, dealers will replace those parts for free.

You're probably wondering what went wrong and which parts need replacing. It's not exactly a minor issue. The problem is that the brake light switch bracket is too close to the parking break. What are the possible complications? The use of the parking break could deform the bracket, causing the brake light to remain on. That's the better scenario. The worse scenario is that the deformed bracket could cause the brake to only partially engage and, given time, lose its effectiveness.

[Full Story - "Toyota Recall of Sienna Vehicles"]
Today's Maui blog brought to you by Robert R Myers.
Let Robert find your West Maui Home.

A recent study has been released by the FINRA Investor Education Foundation on the spending habits of Americans, state by state. Interestingly, this study indicated that 24% of Hawaii residents spent more than they earned over the past year, while the nation's average was 20%. That wasn't the only issue Hawaiian residents had.

The study included an analysis on "rainy day" funds that can be drawn upon in case of emergency. The goal is to set aside enough money to cover three months of expenses, but 60% of Hawaii residents had no such funds whatsoever, putting them in a very bad situation in case of an emergency. In this category, however, they were exactly on parr with the national average. The report goes on.

Another 60% of Hawaii residents didn't compare credit card information from different companies when obtaining their credit card. The national average was 62%. Whether Hawaii is above the curve a bit on that one or not, this trend isn't a great sign. What incentive do credit card companies have to keep their interest rates competitive if so few bother to compare? The study revealed an interesting tidbit of information on this particular set of statistics. Apparently, 57% of female residents did not compare credit cards, while 63% of male residents didn't compare them.

[Full Story - "Spending Habits of Hawaii Residents"]
Today's Maui blog brought to you by Robert R Myers.
Let Robert find your West Maui Home.

According to the latest set of statistics from the Realtors Association of Maui (RAM), the number of single-family homes sold in November dropped in comparison to the same month last year, and median prices fell as well. However, Maui's initial unemployment claims have been falling as well, and more than the neighboring islands. In the week ending on November 27th, those claims dropped by a full 48.5 percent in comparison with the same week last year. Foreclosure filings are also dropping.

Why bring up the reductions in unemployment and foreclosures? When foreclosure homes become few and far between, prices will begin climbing, and as unemployment is reduced, more current residents will find it easier to afford a home. So if the current trends continue, the incredible deals you'll find now will begin to grow rarer.

[Full Story - "Maui Home Sales and Prices Down in November"]
Today's Maui blog brought to you by Robert R Myers.
Let Robert find your West Maui Home.

In the past couple of years, even those who's finances were stable enough to buy a home tended to be reluctant about the process for fear of an unwise investment, considering the housing market's volatility. But things are changing. The economy is improving steadily, including here on our lovely island of Maui, and while incomes are rising, real estate prices remain low and inventory is high.

It is certainly a buyer's market at this point in time, but it will not remain that way forever. Here are some things to keep in mind if you want to make sure you are making the right decision in purchasing Maui real estate.

You will have the best chances of loan approval if you have good credit. This is always the case, and generally considered very common knowledge, but the difference now is that lending institutions are more strict in their standards of who is a good candidate for a loan. A well-documented source of income will help, along with a good amount saved up for a down payment.

[Full Story - "Buying in Maui's Current Real Estate Climate"]
Today's Maui Vacation Rentals Spotlight brought to you by Robert Myers,
Let Robert find your West Maui Home.

Maui's hotels and vacation rentals are leading the march toward financial recovery throughout the state, with consistent improvements in visitor arrivals and daily spending. Hospitality Advisors reported that statewide revenues were up 7.1 percent to $1.9 billion for the first three quarters of the year, as compared to the same period last year.

There's still quite a way to go, however, when compared to the first nine months of 2006, which was the industry's high point. Revenue was 20.6 percent higher in that period. Still, 7.1 percent is a very respectable increase.

[Full Story - "Maui Visitor's Industry Steadily Improving"]
Today's Maui Vacation Rentals Spotlight brought to you by Robert Myers,
Let Robert find your West Maui Home.