Gary's Blog

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

Total sales of previously occupied homes closed the year at 5.16 million units, up about 5% from 2008! That was the first a nnual sales gain since 2005. Granted, we all know prices dropped for the year. The average was 12.4% for 2009 vs. 2008. We actually did see home prices on a nationwide basis rise last summer.

In another report, inventory of unsold homes on the market fell about 7% to 3.3 million units. That's a 7.2 month supply at the current sales pace, close to a healthy level of about six months.

This is great news for owners and sellers of Maui real estate. For prospective Maui real estate buyers, it appears there will be no better time than now. Sellers are still anxious, and discounting dramatically. Inventory is still high enough that there is a good selection. Interest rates are at the lowest level on record. The Canadian dollar is stronger than it has been in decades.

I see the perfect storm, and I am ready to help all those who want help!

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

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.

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

Wells Fargo sees signs of life in lending, but they are way ahead of their competition. Wells said it earned $394 million, or 8 cents per share, in the 4th quarter of '09, which surprised analysts who were expecting a loss of 1 cent per share. This is partly because Wells has already aggressively written down bad loans made before the downturn.

Banking analysts say that losses from failed loans historically peak six months after the end of a recession. That could mean lending will pick up again in the second quarter of this year.

Great news for Maui real estate buyers!

On the national real estate front, housing construction may be making a comeback as well. We have seen two consecutive months of growth in applications for new building permits. December saw an 11% increase to an annual rate of 653,000, a far stronger showing than economists had predicted.

If these economists would just get out of the way with their dire predictions, I think our economy could rebound even faster!

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

That is the title of the top of the business section of today's Maui News. The article explains how the Asian economies are near pre-crisis growth. Great news for the U.S., as we export to those booming economies.

We all know everything moves in cycles, and thanks to God that you and I have survived this one!

Ok Maui, I am ready for a great 2010 in real estate!

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

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.

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

Published in today's edition of Science, a four-year study shows that Hawaii is the second happiest state in America, behind Louisiana. Least happy - New York. This survey is based on studies comparing things like climate, crime rates, air quality, and schools.

And where better than Maui in Hawaii?!

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

Silicon Valley house prices rise 13.9% in Nov. from a year earlier!

Click this link for the full article:


Silicon Valley house prices rise 13.9% in Nov. from a year earlier -

OR

http://www.mercurynews.com/bay-area-news/ci_14018242?source=email&nclick_check=1

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

Yes, consumers are tightening up their belts on credit cards. That is a good thing. The nay-sayers will have us believe that that is bad for our economy. Since when is debt good? Sorry, it might be good, like you feel good the first few days you drive your new car. Then the bill comes in. I like the idea of reducing debt, so our kids and their kids don't have to bow down to China!

Read the last paragraph of the articles in the paper and on the web, and you see that this has been happening for nine months in a row. Lenders have tightened their belts, and are letting less money out, cutting credit lines, etc. They are finally doing what they should have been doing all along - lending responsibly.

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

Check out the link on Maui News:
http://www.mauinews.com/page/content.detail/id/526514.html?nav=10

Up to 45' waves! And the crazy people riding those waves really make it interesting!

Why do people like Maui so much? Well, the natural wonders never cease!

Call me today and get your piece of Maui real estate. Some opportunities in Wailea and Makena real estate that look like 2001 prices!

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

Existing Housing Sales Way Up! November saw existing single-family homes and condos rise sharply compared with November 2008. The Honolulu Board of Realtors reported the 46.5% increase in sfr sales, and a 102.5% explosion in condos. Median sales prices remained flat. Economist Paul Brewbaker projects sometime between 2012 and 2014 the local housing market will meet the last price peak. Maui real estate buyers- now is the time!

The most recent assessment by the Federal Reserve marked its most upbeat view since the recession began two years ago. Retail sales and factory orders and production are both up. Still, the Fed is expected to keep the key lending rate down to near zero through the en of the year and well into next year.

The United Nations forecast that the world economy will bounce back in 2010, with a global growth rate of 2.4%.

Layoffs in November were almost non-existent! Only 11,000 job losses last month, compared to 111,000 in October, and over 500,000 per month at the peak of the recession. Unemployment rate nationwide went down also, to 10%.

And to further help Maui's economy, check this out! Continental Airlines just announce four flights direct to and from Orange County, starting March 7. That is in addition to its daily flights to and from LAX.

Maui real estate is the place to be this winter. Don't expect the same values in six months!

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

State officials estimate airlines will provide nearly 2.2 million seats on flights to Hawaii from December through February. That would represent a 1.8% increase over the same three-month period a year earlier. Good for business, more people coming to Maui!

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

Beginning Monday, November 9, 2009, Alaska
Airlines will fly between Maui and Oakland
California, four times a week. On Tuesday
November 10, Alaska will begin three times a
week service between Oakland and the Big
Island. The new flights are operated with Boeing
737 aircraft that accommodate 16 passengers in
first class and 141 in the main cabin.
Travel

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

3rd drop in foreclosures hints at recovery; state-by-state chart
By Paul Wiseman, USA TODAY

Foreclosures fell for the third-consecutive month in October, another sign the worst of the housing crisis may be past.
RealtyTrac, an Irvine, Calif., real estate firm, reports Thursday that foreclosure filings totaled 332,292 last month, down 3% from September but up 19% from a year earlier. The figure means that one of every 385 homes received a foreclosure notice in October.
"It looks like it's leveling out," says Bernard Baumohl, chief global economist at the Economic Outlook Group in Princeton, N.J. "We're not seeing further deterioration in the housing market."
RealtyTrac CEO James Saccacio said that the third-straight monthly drop was unprecedented and perhaps a sign "that the foreclosure tide may be turning" but warned that "the fundamental forces driving foreclosure activity in this housing downturn – high-risk mortgages, negative equity and unemployment – continue to loom over any nascent recovery."
Four states – California, Florida, Illinois and Michigan – accounted for 52% of last month's foreclosures.
Seven of the 10 U.S. metropolitan areas with the worst foreclosure rates were in California: Vallejo-Fairfield; Modesto; San Bernardino ; Bakersfield ; Merced; Stockton; and Sacramento.
Nevada continued to have the nation's worst foreclosure rate: One in 80 Nevada homes got foreclosure notices in October. In Las Vegas, the figure was even worse: one in 68.
But foreclosures were down 4% in Nevada from a year earlier – the first year-over-year drop in the state since RealtyTrac started monitoring the figure in January 2006. RealtyTrac said a state foreclosure mediation program "may be slowing the inflow of distressed properties into the foreclosure pipeline."
Foreclosures shot up 56% in Illinois last month from September.
RECOVERY WATCH:Tracking the economy; see VIDEO
"Despite all the efforts and resources directed at helping homeowners avoid foreclosure, we continue to see foreclosure activity levels that are substantially higher than a year ago in most states," Saccacio said.
Baumohl says vulnerable homeowners with adjustable-rate mortgages are benefiting from low interest rates that keep a lid on monthly payments. But he's worried that rates will rise – and hurt homeowners struggling to make their payments – as the economy improves and businesses start competing for credit with a deficit-ridden federal government.

If you would like to see the chart, state by state stats, shoot me an e-mail.

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

Productivity - output per hour of work - jumped at the fastest pace (9.5%) in six years, in the July - September quarter, the Labor Department said Thursday.

Also, the number of newly laid-off workers filing claims for unemployment benefits last week fell to the lowest level in 10 months.

GDP growth was reported at 3.5% for that quarter as well. The recession will be "officially" over if we see one more quarter of growth.

Good news for the near future real estate sales on Maui!

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

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

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

The Index of Leading Indicators is up for the fifth month in a row. This is the most recent sign that the recession has ended. The report points to an economy on solid ground early next year, as this indicator is designed to project economic activity in the next three to six months. The Index was up 0.6% in August, following a 0.9% increase in July!

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

The best showing in more than three years in August!

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

Good times ahead!

Labels: beach front real estate, Hawaii real estate, Keawakapu, Makena, Maui Meadows, maui realtor, Wailea

There is so much more evidence, just in the past two days:

1. Factory Orders up 1.3% in July, after a 0.9% increase in June.

2. Productivity of U.S. factories rose 6.6% in the April-June quarter, the largest advance since the summer of 2003.

3. Hawaii state bankruptsy filings increased at their slowest pace in 15 months in August. The state of Hawaii had the second-lowest bankruptcy filings per 1000 in the country, only behind Alaska. Between the start of July 2008 and the end of June 2009, there were 2.07 bankruptcies per 1000 population.

4. Oahu hotel occupancy ranked first among competitive international island destinations through the first half of the year, and fifth in major country and regional destinations around the world.

5. Home sales nationwide rose 12% compared to a year ago.

6. The manufacturing index reported by the Institute for Supply Management showed the highest number for its manufacturing index since June 2007. New customer orders jumped to a level not seen since late 2004!

7. U.S. residential construction spending just had the best showing for home builders in 10 months.

8. The National Association of Realtors said the index of sales contracts signed in July for previously occupied homes rose 3.2%. Coldwell Banker Island Properties just had our best month since 2007, with 66 new escrows opened in the month of August!

9. Wall Street seems to agree with the title of this Blog, as we just had a month-long rally in the stock market.

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

Up 9.6% in July, new home sales are rising in all parts of the U.S. and Hawaii, including Maui. This is the fourth month in a row that new home sales have risen. Sales haven't risen so dramatically since February 2005. Maui real estate buyers should not hesitate, Maui sellers are sure to start realizing the bottom has been realized, and it will only get better from here.

Economists are almost unanimous in their projects that we can stop worrying about the housing market, and start paying closer attention to other issues, such as when credit will start flowing more freely.

The Dow Jones Industrial average just had it's seventh record high for the year in a row yesterday.

Durable goods orders also surged last month, home, car and equipment sales soared by the largest amount in years in July.

Economists are predicting that the economy in the July-to-September quarter is poised to grow strongly.

Today the Labor Department will release it's jobless claims report. That report will likely determine if we see the Dow reach it's eight high for the year in a row!

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

Consumer confidence index rose to 73.5 in August, from 63.4 in July. That's a 16% increase in just one month!

With home prices at 2003 levels, what a great time to buy. Such as Wailea Elua #2110. Gorgeous ocean views, for $1,590,000. Just two years ago, the identical unit next door sold for $2.1 million!

Labels: beach front real estate, Hawaii real estate, Makena Real Estate, maui real estate, maui realtor, ocean front real estate, 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

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

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, vacation property in Maui

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...

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

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

An associate was recently showing her prospective buyer properties here in Wailea. The prospect owns a newspaper in the Midwest. The Realtor suggested to her client that he start a newspaper her on Maui called "Maui's Good News", since we are so much lacking any good news in our existing publications. Her client said "Good news doesn't sell newspapers. It would never fly!"

Do you wonder why the Maui News has such a hard time talking about the good news?

Why not talk about the fact that real estate values went up year after year from the mid 90's through 2007, before we had some correction. No, the newspapers must have huge headlines about how we are in a depression!

How about the fact that since the early 90's through 2007, Maui tourism increased every year, except for a short downturn after the 9/11/01 terrorist attack. No, it is more important that we know that last year saw 12% decline.

How about the fact that the median sale price for a residential home on Maui ROSE from $487,500 in May, to $499,053 in June '09. No, instead, the news is that the number of residential homes sales declined in the first six months of '09, compared to the same period the year before.

Ever heard that numbers don't lie? Well, that's a lie! Numbers can say whatever you want them to say, if you look hard enough. The Maui media looks long and hard for the negative angle whenever possible.

How about that the Department of Labor and Industrial Relations Director just noted that the construction industry actually showed a modest move to positive territory, with 100 new jobs across the state in June? No, let's talk about UNemployment, not employment! Hawaii's unemployment rate is still 2 percentage points lower than the national average. But let's not mention that, that is the GOOD side of the news.

And GOOD news doesn't sell newspapers!

Well folks, I choose to believe that we are in GOOD times. And I also choose to believe that what we expect is what we get. As a result, and for the grace of God, I am having a great year!

I see that I am not the only one with a positive attitude. According to a new Associated Press-GfK poll, debt-related stress was 12 percent lower this year than in 2008. "People now have some optimism that the worst is behind them", according to Paul J. Lavrakas, a research psychologist and AP consultant who analyzed the results of the survey.

So when someone in your family wants to turn on Constant Negative News - CNN - turn it off!

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