June 28th, 2009
And that includes Maui. We would expect that sales activity increases are necessary to see price stabalization. So this is good news for Maui real estate.
The National Association of Realtors reported that existing home sales ticked up 2.4% last month to a seasonally adjusted annual rate of 4.77 million units compared to the downwardly-revised rate of 4.66 million in April. The sales missed expert forecasts of 4.82 million annual units, according to a consensus estimate of analysts compiled by Briefing.com, and are off 3.6% from the 4.95 million-unit pace 12 months ago.
June 28th, 2009
The distress in the jumbo mortgage world has clearly had a negative impact on Maui real estate. In Wailea in the first six months only 1/3 of all sales were financed with conventional mortgages. That is only half that of 2008. But help may be on the way.
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JP Morgan and Citigroup are expanding in ?jumbo? mortgages used to buy the most expensive homes, helping revive a market that shriveled amid a three-year jump in homeowner defaults. JPMorgan resumed buying new jumbo loans made by other lenders this month, after halting purchases in March, spokesman Tom Kelly said. Borrowers must have checking accounts with the bank, he said. Citigroup is again offering the loans through independent mortgage brokers, spokesman Mark Rodgers said. The two New York-based banks are signaling new interest in a market hobbled since 2007, when record-breaking defaults on home loans caused investors to flee securities backed by mortgages. With the recession sapping demand for new consumer and corporate loans, lenders are competing harder for creditworthy customers, said Harry Davis, banking professor at Appalachian State University in Boone, North Carolina.
June 28th, 2009
In two weeks, Kai Ani Village unit 3-102, a live work unit, will be available for public tours. Look for us!
June 28th, 2009
The distress in the jumbo mortgage world has clearly had a negative impact on Maui real estate. In Wailea in the first six months only 1/3 of all sales were financed with conventional mortgages. That is only half that of 2008. But help may be on the way.
Read More »
June 28th, 2009
And that includes Maui. We would expect that sales activity increases are necessary to see price stabalization. So this is good news for Maui real estate.
Read More »
May 11th, 2009
Victory Development Hawaii in conjunction with Wells Fargo Bank is offering an extraordinary financing opportunity at Kai Ani Village. Today, qualified buyers in buildings 1,2 and 3 can obtain financing a full percentage point below that available in the marketplace generally for a 30 year fixed rate mortgage. Today those rates would be in the 4.25% range. That savings translates to approximately $300 per month and $100,000 over the life of the loan. For details contact us at Coldwell Banker Island Properties.
