Wednesday Morning Coffee on Maui, 01/25/12
Aloha & Good Morning!
The current Maui temperature today will be highs of 79 to 84 degrees with light winds.
It is going to be a beautiful day! Are you considering a move to Maui? There are so many rich and famous that are moving and visiting Maui. With our record low mortgage rates and the great steals and deals that keep coming up on the Maui Real Estate Market, your piece of the dream is within reach.
Speaking of rich and famous... are you watching American Idol this year? Did you know that Steven Tyler just bought a home on Maui? We also just learned that Brittney Spears will celebrate her wedding this Valentine's day on our beautiful island. These are just some of the many rich and famous that know how special Maui is!
What's even better is that Tyler picked up his Maui Dream Address at a discount! The deal went down for $4.8 million and was over $3 million less than the list price. But you don't have to have millions to buy a piece of the Maui Dream. There are many listings at all price points that are on the market at significant discounts. YOU CAN OWN ON MAUI TOO!
Article: Aerosmith's Steven Tyler Buys in Maui
Remember my newsletter a few weeks ago with some of the new Maui projects for 2012? Here is a great article on a new outlet center that is coming to Kihei!
Article: Maui Outlets Coming Much Sooner Than Kihei To Upcountry Road
Don't forget to get your name in for this year's exciting i-Pad giveaway! Check out the details HERE!
Looking for more great articles, videos and advice? Check out the Real Estate Sales Maui Team on FACEBOOK, TWITTER and BLOGGER.
Looking for the current Bank Owned Foreclosures on Maui? Click HERE.
Lender Corner by Craig Haueisen
Last Week In The News
The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending January 13 rose 23.1%. Refinancing applications increased 26.4%. Purchase volume rose 10.3%.
The producer price index, which tracks wholesale price inflation, fell 0.1% in December after increasing 0.3% in November. For the year, wholesale prices are up 4.8%. Core prices — which exclude food and fuel — rose 0.3% in December.
The National Association of Home Builders/Wells Fargo monthly housing market index rose four points in January to 25 from a reading of 21 in December. It was the highest level since June 2007. An index reading below 50 indicates negative sentiment about the housing market.
The combined construction of new single-family homes and apartments in December fell 4.1% to a seasonally adjusted annual rate of 657,000 units. Single-family starts increased 4.4%. Multifamily starts fell 20.4%. Applications for new building permits, seen as an indicator of future activity, fell 0.1% to an annual rate of 679,000 units. Housing starts for the year are up 24.9%.
Existing home sales rose 5% in December to a seasonally adjusted annual rate of 4.61 million units from a downwardly revised 4.39 million units in November. The inventory of unsold homes on the market decreased to 2.38 million, a 6.2-month supply at the current sales pace, down from a 7.2-month supply in November.
Initial claims for unemployment benefits fell by 50,000 to 352,000 for the week ending January 14. It was the lowest level since April 2008. Continuing claims for the week ending January 7 fell by 215,000 to 3.432 million.
Upcoming on the economic calendar are reports on pending home sales on January 25 and new home sales on January 26.
Craig Haueisen is a Loan Officer with Prospect Mortgage. Please feel free to email him or call him for any of your Mortgage needs.
Office: 808-298-7549 or Email: craig.haueisen@prospectmtg.com
Click here to visit Craig's website and apply online: http://myprospectmortgage.com/CHaueisen