Gary's Blog

The employment data that was released Friday had a cut of only 36,000 jobs, fewer than predicted. Many economists are saying the jobless rate may have peaked (again 9.7% last month), and predict the employment report for March will kick off a string of monthly job gains. Wall Street responded positively with a 122 point (1.2%) surge in the DJIA on Friday.

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Continental said Friday that it would add a daily red-eye from Maui to Los Angeles, and a return afternoon flight from L.A. It will also begin a four-times-a-week afternoon flight from Maui to Orange County, CA, and a return flight leaving in the late afternoon.

Allegiant announced it will soon purchase two Boeing 757s to launch service to Hawaii later this year and will buy four more in late 2010 and next year. The airline now serves California, Oregon, Washington, Arizona, and Las Vegas.

Labels: Makena Real Estate, Maui Meadows, maui real estate, maui realtor, property in Maui, vacation property in Maui, wailea real estate

A very strong report for the U.S. economy. Retail sales just experienced the largest gains since 2007, before the recession began. The 3.7% February rise surprised economists who expected closer to a 2% gain.

What a time to buy Maui real estate! Sellers are anxious to sell, and so many signs are pointing toward good times ahead!!

Labels: Hawaii real estate, Makena Real Estate, Maui Meadows, maui real estate, maui realtor, property in Maui, vacation property in Maui, wailea real estate

Manufacturing, construction and personal income, and spending are enjoying modest growth. Mfg output expanded in January for the seventh straight month. The manufacturing index read 56.5 for February. Anything above 50 indicates growth.

Personal spending rose more than expected, with a 0.5% increase in January..

The Institute for Supply Management said its employment measure grew for the fourth time in five months in January.

Housing construction rose 1.3% in January.

The Federal Reserve's survey of the nations 12 regions showed improvement in nine of the twelve regions. Bad weather set back the Richmond district. The Fed says that the record low interest rates are still needed to sustain the recovery. Good news for Maui real estate investors!

While recent recessions in the past have been revived by consumer spending, so far the strength this time actually comes from the manufacturing sector. For example, businesses boosted spending on equipment and software in the most recent quarter by 18.2%. And foreigners snapped up U.S. goods, which propelled U.S. exports by 22.4%, the biggest increase in 13 years.

Economists are predicting continued growth in this quarter, of about 3%. That compares to a phenomenal 5.7% growth rate in the 4th quarter of '09.

Labels: Hawaii real estate, Makena Real Estate, Maui Meadows, maui real estate, maui realtor, property in Maui, vacation property in Maui, wailea real estate

Tourism numbers are all up! Visitor count for January is up 2.4%. Visitor spending is up 5.7%. Visitor spending per person per day is up 3.2%. Further evidence that America is feeling better this year than last. And we all know that consumer sentiment drives consumer spending. And consumer spending drives 70% of the U.S. economy.

Airlines are increasing their numbers of seats coming to the State this spring. Continental and Alaska Airlines are planning a 5.1% increase in the number of seats from California. Air seats from the eastern U.S. will be increasing by 6.3%, and international flights are forecast to rise 6.7%

This is already helping Coldwell Banker Island Properties sales. We have been putting about two new homes in escrow every day for about the past six months. This month, the numbers are approaching three new escrows per day.

What a time to buy Maui real estate! If you are a buyer, what a great time, as the sellers are still very motivated to bargain. They will soon realize, however, that the worst is behind us.

Labels: beach front real estate, Hawaii real estate, Makena Real Estate, Maui Meadows, maui real estate, maui realtor, property in Maui, vacation property in Maui, wailea real estate

Now for seven successive months we have watched home prices rise across America. The Standard and Poor's/Case-Shiller 20-city home price index released Tuesday rose 0.3% from November to December. Only five of the 20 cities in the index showed declines from November to December. Los Angeles and Phoenix posted the largest increases. In Denver, prices rose for the 10th month in a row while San Francisco saw its eight monthly-gain. More listings are receiving multiple offers above the asking price.

People are realizing the bottom is creeping away.

When to buy Maui real estate? Looks like the time is now!

In other news, the state Department of Business Economic Development and Tourism says it continues to expect a gradual recovery in Hawaii's economy beginning this year. Total visitor days and expenditures are projected to increase this year by 2.1% and 2.3%, respectively.

Labels: Makena Real Estate, maui real estate, maui realtor, ocean front real estate, property in Maui, vacation property in Maui, wailea real estate