The US economy contracted
3.8% in the fourth quarter, the worst number in twenty five years. Here are some key snippets from the Bureau of Economic Analysis:
The decrease in real GDP in the fourth quarter primarily reflected negative contributions from exports, personal consumption expenditures, equipment and software, and residential fixed investment that were partly offset by positive contributions from private inventory investment and federalgovernment spending. Imports, which are a subtraction in the calculation of GDP, decreased.
So the declines were broad based and disturbing. However, results were actually better than the anticipated 5.5% decline.
So what does this mean for Maui real estate? Well, there is no way to spin this sort of economic result as good news. But it would seem that this reinforces the idea that for people considering buying
Maui real estate this may well be a once in a generation opportunity to obtain property.
For details contact us!
As the world becomes more aware of human impact on our environment, considerations like the walkability of where we live becomes more important. What exactly is walkability? Well according to
Walkscore.com it includes the following:
- A Center
- Density
- Mixed income and use
- Parks and public space
- Pedestrian-centric design
- Nearby schools and workplaces
In these times of uncertain energy prices, this matters for Maui real estate as well. So how do some Kihei condominium complexes rate according to
Walkscore?
- Hale Kanani? A mediocre score of 46.
- Ke Alii Ocean Villas? Slightly better at 51.
- Kamaole Sands? A mediocre 46.
Kai Ani Village? A stellar score of 82!
For details contact us!
More and more we are seeing people, our buying clients and others, talking about foreclosures and short sales as where they wish to focus. There seems to be a belief that foreclosures and their siblings short sales represent the best values. But it simply isn't necessarily true anywhere and it certainly isn't driving things on Maui. Here are some reasons why:
- The value proposition in a specific property is driven by the desires of the owner. Foreclosures speak to their financial condition, NOT the value proposition. It is entirely possible that the best deal is a property without a mortgage. But if you limit yourself to foreclosures? You'll never see it. Now is it possible the best value is a foreclosure? Yes. But never simply because it is a foreclosure.
- When dealing with an owner/seller one can quickly determine if a deal can be made. You can make your investment decision on your time frame, with the facts at hand now. You can drive the process. In dealing with overwhelmed large institutions? Their bureaucratic requirements drive timing etc. While you are waiting on them? A new deal could pass you by or the deal you want can be snatched away at any time.
- Unlike parts of California, in South Maui and along the Maui Oceanfront, there simply are not enough troubled situations to drive the marketplace. So by limiting one's self that way, a buyer is going to see a tiny sliver of the market when they have the ability to drive transactions much more broadly.
To discuss these issue further, contact us!
The National Association of Realtors released
December data today. Here are some key snippets and what they mean for Maui real estate.
Existing-home sales rose unexpectedly while inventory declined, led by a surge of sales in the West, according to the National Association of Realtors®. Existing-home sales
As more and more people become concerned about the environment, our impact on it and their carbon footprint, developers have responded nationwide with "live-work" architectures to facilitate less travel.
This Wall Street Journal Article summarizes a few such developments. Of course here in South Maui,
Kai Ani Village boasts twenty such opportunities. This development, at the corner of South Kihei Road and Lipoa Street in Central Kihei is currently under construction. The live-work units provide a commercial space of 500 square feet fronting a major traffic source along with a two-story, two bedroom living space of approximately 1300 square feet directly above it. The units offer two car garages and can accommodate a variety of business options. The Sales Center is open daily.
Contact us for more information and a private tour.
2 BEDROOM + LOFT / 2 BATH
1306 SQUARE FEET
116 SQ FT LANAI
14 UNITS AVAILABLE IN THIS FLOORPLAN
The Lani unit is a very large 1306 square foot, two bedroom, two bath unit located on the second floor and is crowned by a third floor loft. Entering through the kitchen hallway, one walks through the conveniently located kitchen to drop off groceries and proceeds to the approximately14×21 Great Room. This large space boasts a cathedral ceiling, extra-tall windows and opens to both the kitchen and a large lanai creating a dramatic, continuous, indoor-outdoor living space.
Lani Floorplan
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Coldwell Banker Island Properties (CBIP), Maui’s largest and most successful real estate brokerage firm is now the listing agent for Kai Ani Village. 200 agents strong, CBIP has extensive experience in marketing new condominium projects and has an eleven person team focusing on Kai Ani Village.
For more information contact Thomas D. Muldoon at Tom@KaiAni.com
The design of Kai Ani Village has been focused around sustainability with the preservation of native wetlands and the integral use of green building, earth-friendly strategies. Kai Ani Village has been designated a Hawaii BuiltGreen project. Green Construction materials and techniques within Kai Ani Village include
- Sealed roofs which reduce heat flow, mold and mildew
- Radiant barrier roof sheeting and long overhangs to help with cooling
- Ceiling fans to reduce electricity use
- Low flow toilets and fixtures
- Sound reduction insulation on both floors and interior walls
- Low Volatile Organic Compounds (VOC) paints
The framing of buildings 1, 2 and 3 are now largely complete. We are able to present each of the property’s seven floorplans to existing and prospective owners following the end of the construction day. One can now better envision how the architecture fits the building site and how the floorplans create a welcoming environment on this Kihei site, conveniently located to beaches, shopping, a gymnasium, and health care facilities. Please come and take a tour of these buildings as construction continues. The next building to commence construction will be building 15
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