We attended a talk given today by Paul Brewbaker, Chief Economist for Bank of Hawaii. Here is a summary of the key points of his presentation and thei likely impact on Maui real estate:
The Chinese are coming, the Chinese are coming!
For details, contact us!
According to the Commerce Department:
Gross domestic product grew at a seasonally adjusted 3.3% annual rate during the second quarter, according to the Commerce Department, which originally put growth at a 1.9% pace. The revision, released Thursday, reflects new data showing that exports were even stronger than first estimated and that business inventories weren't depleted as much as thought earlier.
This is very good news. While it doesn't impact Maui real estate directly, this does disrupt the constant "sky is falling" rhetoric that comes out of the media and the national press. Anything that gets the general public to understand that for all the problem the economy faces, that the numbers say it is in reasonable shape is good news.
We are pleased to announce the sale of 3387 Kuaua in Maui Meadows. This extraordinary property sold to sophisticated buyers along Maui's oceanfront. We are also pleased to announce the sale of 50 Hoohale in Kilohana Ridge. These transactions demonstrate the power of the Leading Edge Marketing System and the value of out proprietary market research. To see how these can work for you, contact us!
This is the week of fires. After the 155 acre fire this past weekend by Maui Meadows, and a 4 acre burn off of Kulanihakoi Street in North Kihei, we now have another fire near Maui Meadows. As of this writing some Maui Meadows homes have been evacuated.
See Pics below:
A bucket Helicopter is being flown from the Wailea Fire Station to assist in fire suppression efforts.
Standard and Poor's has released their Case Shiller Index results through June. Here are their key findings:
"While there is no national turnaround in residential real estate prices, it is possible that we are seeing some regions struggling to come back, which has resulted in some moderation in price declines at the national level" says David M. Blitzer, Chairman of the Index Committee at Standard & Poor's. "Depending on where you focus on the details of the report, you can see some different stories on where home prices are headed. Record year-over-year declines were reported in both the 10-City and 20-City Composites in June; however, they are very close to the values reported for May. The rate of home price decline may be slowing. For the month, the 10-City Composite was down 0.6% and the 20-City Composite was down 0.5%. While still falling, these are far less than the 2-2.5% monthly drops seen earlier in 2008. In June, nine of the 20 cities were up month-to-month compared with seven in May. Nevertheless, not one market is showing a positive return over the past 12 months and seven of the metro areas are reporting declines in excess of 20.0%."
To that point here are the figures comparing June 2008 to May 2008 for markets relevant to Maui real estate:
The declines are clearly slowing which is good news. For details, contact us!
Maui Real Estate - The Edge. It's state-of-the-art technology and analysis at your fingertips. It's decades of experience helping the most sophisticated real estate clientele maximize their investment
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2009 ActiveRain Corp. All Rights Reserved
