Wednesday Morning Coffee on Maui, 02/15/12

February 15, 2012

Aloha & Good Morning!

The current Maui temperature today will be a high of 83 degrees with a mix of sun and clouds.

It probably won't be much of a surprise when I tell you that rents are moving up. While some areas may have only experienced mild increases there are some that have had a larger jump. It is important to know that Maui is not back to the levels that we saw back 5-7 years ago. However, Maui is seeing a jump in our hotel occupancy rates and we are seeing more tourist to our beautiful island. All these ideas are so good for our local Maui economy. The following two articles are important to anyone who is watching these trends and interested in the subject. The first is a national based article that could be seen here on Maui later this year. The second article includes the statistics for Maui hotel occupancy rate and the rise that it has seen through 2011.

Article: Rising Rents Make Home Buying a Better Choice

Article: Maui Making the most off hotel rooms

If buying something new on Maui is on your mind then you need to know that the new units at the Villas at Kehalani have a great deal going on right now. The developer will take a refundable $5,000.00 deposit to hold a unit till construction starts. This is great for people who do not need a unit now but can hold today's prices for the future. The developer will also guarantee if prices go down before construction, the lower price will be honored. I think this is a great opportunity. Give me a call today to get more info and get started on your new Kehalani Home!

Kehalani Communities - Home Page

Here are some Best Buys that are worth taking a look at. Please let me know if you see anything that interests you. I'll be glad to get you more information or create a personal walk-through video just for you to view! Click on the MLS # for more information on each property.

Upcountry Best Buy - just hit the market 5 days ago!

MLS # 351233 - This is a bank/corporate owned property. Great opportunity for first time buyer or investor.

Kihei Best Buy - Recently Reduced Home

MLS #350941 - Recently reduced 3 bedroom, 2 bath home in Hale Piilani in Kihei.

Kihei Best Buy - This condo just hit the market 2 days ago!

MLS #351238 - Not only did this great 2 bedroom 1.5 bath condo just hit the market but it is listed under the assessed value! The opportunity for this condo won't last long at this price!

Lahaina Best Buy - A great starter home!

MLS #350833 - It is hard to pass up this affordable home located in Lokahi Kuhua just off Lahainaluna Road. This 3 bedroom 2 bath home is the perfect Best Buy starter home in Lahaina!

Lahaina Best Buy - Reduced Bank Owned Condo!

MLS #349129 - This 1 bedroom 1 bath unit is ready for immediate occupancy and is located near shopping, dining and the ocean.

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

According to the Federal Reserve, monthly consumer credit debt rose $19.3 billion in December for a total credit debt level of $2.498 trillion. Revolving debt, which includes credit cards, increased $2.8 billion to $801 billion. Non-revolving debt, including loans for cars, rose $16.6 billion to $1.697 trillion.

Personal income increased $61.3 billion or 0.5% in December. The personal savings rate was 4% in December, compared with 3.5% in November. Compared to a year ago, personal income rose 4.7%.

The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending February 3 rose 7.5%. Refinancing applications increased 9.4%. Purchase volume rose 0.1%.

Wholesalers increased their inventories 1% to $473.2 billion in December. This followed a revised 0.1% decrease in November. Sales at the wholesale level rose 1.3% to $413.1 billion in December. On a year-over-year basis, sales were 11.8% higher since December 2010.

The trade deficit increased to $48.8 billion in December from a downwardly revised $47.1 billion in November. Exports rebounded 0.7% to $178.8 billion. Imports advanced 1.3% to $227.6 billion.

Retail sales rose 1.8% for the week ending February 4, according to the ICSC-Goldman Sachs index. On a year-over-year basis, retailers saw sales increase 3.5%.

The Labor Department reported that in the fourth quarter, productivity rose at an annual rate of 0.7% and labor costs increased at an annual rate of 1.2%.

Initial claims for unemployment benefits fell by 15,000 to 358,000 for the week ending February 4. Continuing claims for the week ending January 28 rose by 64,000 to 3.515 million.

Upcoming on the economic calendar are reports on retail sales on February 14 and housing starts on February 16.

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