July 20th, 2010
We are pleased to announce the listing of 3190 South Kihei Road. This 31,000 square foot vacant lot sits on the finest part of world-famous Keawakapu Beach. It has been thoroughly prepared and approvals are in place for a 7300 square foot home. This lot truly is the last of its kind and is the finest beachfront lot available on Maui. http://www.mauibeachfrontlot.com/
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July 20th, 2010
In a confirmation hearing held last week in Wailuku the first mortgage holders, led by Wells Fargo as trustee, won fee simple ownership of the Makena Resort. In effect the group agreed to pay itself $95 million. What this really does is simplify the entire situation surrounding the Resort. Either the owners can sell it, sell pieces or develop it themselves. This is the beginning, not the end of the story.
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July 19th, 2010
U.S. mortgage rates dropped in the past week, with 30-year fixed-rate loans tumbling to their lowest level in 39 years, according to a survey released on Thursday by Freddie Mac, the second-largest U.S. mortgage finance company…Interest rates on U.S. 30-year fixed-rate mortgages, the most widely used loan, averaged 4.69 percent for the week ended June 24.
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June 21st, 2010
A recent decision by the State Supreme Court has blocked the proposed Kuilima Resort Turtle Bay expansion project until an updated Environmental Impact Study has been completed. The decision ruled that given the age of the EIS (25 years old) that the development was now "essentially a different action." Â The impact of this decision ranges far beyond just that particular resort. On Maui, both Honua'ula and Makena have older EIS's. As these studies can easily take a year to complete, it seems likely that any actual development on either of those sites has just been delayed.
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June 21st, 2010
According to CoreLogic
National home prices increased in April, the second consecutive monthly increase. According to the CoreLogic HPI, national home prices, including distressed sales, increased by 2.6 percent in April 2010 compared to April 2009. This was an improvement over March’s year-over-year price increase of 2.3 percent. Excluding distressed sales, year-over-year prices increased in April by 2.2 percent; an improvement over the March non-distressed HPI which increased by 1.0 percent year-over-year. On a month-over-month basis, the national average home price index increased by 0.8 percent in April 2010 compared to March 2010, which was stronger than the previous one-month increase of 0.1 percent from February to March….“The monthly increase in the HPI shows the lingering effects of the homebuyer tax credit,” said Mark Fleming, chief economist for CoreLogic. “We expect that we will see home prices remain strong through early summer, but in the second half of the year we expect price growth to soften and possibly decline moderately.”
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June 1st, 2010
You may continue to hear a great deal of kvetching about the Maui real estate market. Don't believe it. The Leading Edge continues to perform!
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