Gary's Blog

The U.S. Conference Board announced Thursday that December's Index of Leading Economic Indicators rose 1.1%, over 50% higher than economists projected. This is the latest suggestion that growth could pick up this spring.

China declared it is over the global crisis and signaled a shift in focus to controlling inflation. Economic growth accelerated to 10.7% in the final quarter of 2009, driving the full-year expansion to 8.7%. The strong numbers keep China on a course to replace Japan sometime later this year as the world's second-largest economy after the U.S.

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The four-week average for jobless claims was an encouraging sign that the pace of layoffs continues to decline. The four-week average is now at its lowest point since last September 2008.

Separately, a forecast of economic activity rose for the eighth straight month in November, signaling the economic rebound will continue into next year. The index of leading economic indicators rose 0.9% in November.

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Maui County hotels were two-thirds occuipied in August (66.2%), an improvedment from the all-time lows of 55% in May!

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The best showing in more than three years in August!

Also,the Dow Industrial Average hit a record yesterday, again.

Good times ahead!

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U.S. businesses reduced inventories at the wholesale level for a record 11th consecutive month in July. Plus sales rose by the largest amount in more than a year.

In a separate report, global trade is increasing U.S. imports by a record amount in July and boosting foreign demand for American goods for a third straight month.

An first-time unemployment claims for unemployment benefits fell more than expected last week - cause for more optimism.

It seems the positive indicators coming out in the news, if you compare them to the negative indicators, are winning 2:1.

I'm ready!

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

Maui hotels maintained their occupancy rates in July, while visitor arrivals were up. They didn't stay as much at hotels, however: Instead, they stayed with friends and family (up 17.3%), on cruise ships (up 12.6%), and in time shares (up 12.4%). Although that may not directly be good news for the hotels, it is good news for the economy! More visitors means more visitors' dollars coming to Maui!

In a separate report, the Federal Reserve "Beige Book" study showed that 11 of the 12 Federal Reserve regions in the united states idicated economic activity was either "stable", "showed signs of stabilization" or had "firmed". Analysts predict the economy is growing in the current quarter, which ends September 30, at an annual rate of 3 to 4 percent.

Prices are down in Maui Meadows. A foreclosure at the top of Maui Meadows, on Kupulau Drive, listed at 650k, had four offers! One of those offers was my clients' offer for 700k. Our offer was the third best offer on the table!! Looks like there are buyers out there when the property is priced enough below market. Looks like the bottom to me.

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

Lots of good news today!

Federal Reserve Chairmani Ben Bernanke yesterday gave his most optimistic outlook since the financial crisis began, saying the economy is on the verge of growing again.

July home sales surge for the fourth month in a row, posting the largest monthly increase in at least ten years. Sales jumped 7.2% to an annual rate of 5.24 million units. This was the strongest month since August 2007.


Demand for entry- and mid-level houses has led to bidding wars in Southern California, as buyers are shopping for homes again, optimistic that values have been beaten down about as low as they will go and triggering the highest sales levels in more than two years. A report released Tuesday shows a sharp rise in home purchases and an increase in median prices for a third straight month -- suggesting that the two-year decline in home values may finally be over. The complete article can be viewed at:
http://www.latimes.com/business/la-fi-home-sales19-2009aug19,0,5419938.story

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Good news for Hawaii travellers. Over 170 new Hawaiian Airlines positions will be filled soon, after having hired 100 new workers in recent months.

Economists say that employment growth follows the economic growth. Could this mean...

Hawaiian is about to add a new long-range Airbus, with a range of close to 7000 miles, to its fleet. That will give Hawaiian the ability to fly nonstop to all of North America as well as points in eastern Asia.

The world is getting smaller, and Hawaii is getting closer to everyone in the process!

Labels: Keawakapu, Kihei, Lahaina, Makena, Makena Real Estate, Maui Meadows, maui real estate, maui realtor, ocean front real estate, property in Maui, South Kihei, South Maui, Wailea, wailea real estate

The first time that the jobless rated dropped in 15 months happend in July. A net total of 247,000 jobs were lost last month, while the average workweek and wages went up in the newest figures. Economists are overwhelmingly in agreement that the recession is in transition to recovery.

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For the second month in a row, we've had an uptick in single-family home resales prices. Through July, $1.5 billion in real estate transactions have closed, not bad for what Maui News likes to call "the worst recession since..."

Median prices were up from June on condos and single family residences. SFR's were up a whopping 4.6% in just one month!

The positive news just keeps rolling in...

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Well folks, I know good news doesn't sell. But if you want to find it, here it is!
U.S. Manufacturing activity is expected to actually grow next month for the first time since January 2008.
Construction spending rose for the second time in three months in June, as residential building increased. The 0.3% increase is a far cry from the expected 0.5% drop!
The S&P index is back to 4-digit territory, closing over 1000 yesterday for the first time since 11/4/08. That puts the index up over 48% since March.
The Dow Jones Industrial Average rose for the fourth day in a row today.
Real estate prices are holding steady, inventory is decreasing nationwide, and public optimism is growing.

Labels: beach front real estate, Keawakapu, Kihei, Makena, Makena Real Estate, Maui Meadows, maui real estate, maui realtor, ocean front real estate, South Kihei, South Maui

Sales of previously occupied homes rose for the third month in a row in June, the National Association of Realtors reported. That hasn't happened since early 2004, during the boom. "The turnaround in the housing market appears finally to be here and indeed may be gaining some speed," wrote Joel Naroff, president of Naroff Economic Advisors Inc.

Stocks jumped on the news, with the Dow Jones industrial average rising above 9,000 for the first time since early January.

Home sales rose 3.6 percent to a seasonally adjusted annual rate of 4.89 million last month, from a downwardly revised pace of 4.72 million in May. Sales were up in all four regions of the country. It was the highest level of sales since last October and beat economists' expectations. Sales had been expected to rise to an annual pace of 4.84 million units, according to Thomson Reuters.

In another encouraging sign, the share of foreclosures on the market is shrinking. About one out of three homes sold in June wasforeclosure-related, down from nearly half earlier this year.And the glut of homes up for sale dwindled to 3.8 million. That's a 9.4-month supply at the current sales pace and another important sign of a recovery. A bit better than the 24-month supply we were seeing not long ago!

One last exciting statistic: prices have risen for three straight months in about half of the 55 major metropolitan areas tracked by the Associated Press-Re/Max Housing Report, also released Thursday.

Labels: beach front real estate, Keawakapu, Makena, Maui Meadows, maui real estate, maui realtor, ocean front real estate, South Kihei, South Maui, Wailea, wailea real estate

Napoleon Hill in his book "Think and Grow Rich" says one of the keys to success in life is a PMA- a Positive Mental Attitude.

I realize with all the bad press out there, it is difficult to maintain a positive mental attitude. Well, my broke brother-in-law will tell me, "I'm POSITIVE that the end of the world is near!" I don't think that is what Napoleon had in mind.

I scour the media for that positive news. I don't believe in watching Constant Negative News CNN. There are sources out there with the good stuff, although those sources are few, and they are careful not to have a bent in that direction.

Here is some of that Positive News I found over the past couple of days:

1. Hawaii foreclosure rate fell in June by 13.5% from May! 706 properties in June went in foreclosure vs. 816 in May.

2. The jobless rate in Hawaii for June was 7.4%, unchanged from May.

3. Stocks ended the week with an enormous gain, about 7% for the week!

4. New Home construction across the U.S. rose in June to the highest level in SEVEN MONTHS! Up 3.6% from May! This was the second straight monthly increase.

5. Bank of America joined other major banks in reporting better-than-expected second quarter earnings on Friday.

6. Friday I saw Paul Brewbaker, chief economist for Bank of Hawaii. Paul said that the bottom of Oahu SFR sales happened in January, and inventory has been shrinking ever since. He pointed out that increased sales and decreased inventory always precede increases in prices. He also pointed out: "Wouldn't you be an idiot to miss the $8000 tax credit from the Federal Government, these historically low interest rates, combined with these phenomenal prices and still crazily negotiable sellers??!!"

We may never see an opportunity like this again in our lifetimes.

All in all, folks, the end IS near. The end of all the BAD news, that is! Hallelujah!

Labels: Keawakapu, Makena, Makena Real Estate, Maui Meadows, maui real estate, maui realtor, South Kihei, South Maui, Wailea, wailea real estate

Check out my hot picks on the home page. The newly constructed home at 111 Ponana Street is gorgeous with incredibly beautiful ocean and Haleakala views. We just reduced the price by $200,ooo! The seller is now very realistic at $1,295,000. Just one block north of Wailea, and walking distance to Keawakapu Beach, one of the best beaches in the world, you can't beat this location. If you shop in Wailea or Makena for a comparable home and view, you will have to pay upwards of double this price. Don't miss this unique opportunity. You may never see a price like this for a property of this quality again!

Labels: Keawakapu, Makena, Maui Meadows, South Kihei, South Maui, Wailea