Na Hale O Makena Real Estate News

We will be updating this site frequently to keep you up to date on all matters which might impact Na Hale O Makena Real Estate. To look at recent posts that are no longer on the frontpage, please click on the appropriate category in the right hand column.

Please let us know if there is something specific you'd like us to keep you apprised of! Mahalo.

- Tom & Sean
Real Estate's Leading Edge

NO CHANGE IN TAX RATES

May 16th, 2008
At a meeting on Wednesday, the Maui County Council set the property tax rates for Maui real estate for the 2008-2009 fiscal year. The rates are as follows:

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O CANADA

May 15th, 2008
A phenomenon regarding Maui real estate we have been describing over the past several months, the prominence of the Canadian buyer was a lead story in today's International Herald Tribune. While the article doesn't really add anything new, it does make a couple of points that are worth restating:

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THE WISDOM OF REMODELEING

May 15th, 2008
In today's Wall Street Journal there is a story on how the returns on remodeling have changed. Some snippets and their implications for Maui real estate below:

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HANNIBAL THE MASTIFF

May 14th, 2008

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MAUI REAL ESTATE BARGAIN

May 11th, 2008

We usually don't highlight specific properties here, but this one is too good not to talk about. In the entire Wailea real estate market there are two bargains that just jump out. The most recent is a one-bedroom unit in Grand Champions that is listed for $499,000! That is the same price the seller paid in 2004. It simply won't last. The other bargain? Contact us and we'll tell you about it.

ONLY HALFWAY THROUGH?

May 11th, 2008
In the Economist magazine, a short article argues that the housing issues on the mainland are only half over:

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CALLING THE BOTTOM

May 7th, 2008

In today’s Wall Street Journal, an article cites Wellesley College Professor Karl Case calling the bottom of the national housing market:

But new housing starts have at last slumped below the seemingly magical one million mark. That happened in March. Every time that has happened in the last 50 years, it proved to be the bottom of a recession.”It is really remarkable how much where we are today looks like the bottom we’ve had in the last three cycles,” Mr. Case says. “Every time we’ve gone below a million starts, the market has cleared at that moment.”

Is he right?

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TIGHTENING LENDING STANDARDS

May 5th, 2008

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APRIL WAILEA MAKENA RESULTS

May 5th, 2008
In April there were eleven re-sales of  in Wailea condominiums and Makena condominiums. The median sale price of $1.875 million was dramatically higher than both 2007 numbers and the first quarter of 2008 results. That is a reflection of tow Ho'olei resales being added to the mix for the first time and three other oceanfront closings. The per sqaure foot average price, the better measure in our opinion, of $1194 was up 3% over 2007 and 8% over the first quarter 2008. The most telling characteristic of the sales was that of the 11 nine were either new or heavily remodeled. Exceptional condition continues to be a key attribute buyers are seeking. For sale inventory has declined under the 180 unit level for the first time in months.

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NEW CONSTRUCTION ENVY

May 4th, 2008
A few days ago, while discussing values for Maui real estate we tried to quantify the value of newer condominiums on Maui to older, otherwise comparable ones. In today's New York Times, an article describes how buyers in NYC are thinking about new versus older condominiums. Here are some snippets and then we'll discuss how this applies to Maui real estate:

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