http://www.tomandsean.com/blog A blog about Maui Real Estate Tue, 20 Jul 2010 17:03:29 +0000 http://backend.userland.com/rss092 en We are pleased to announce the listing of 3190 South Kihei Road. This 31,000 square foot vacant lot sits on the finest part of world-famous Keawakapu Beach. It has been thoroughly prepared and approvals are in place for a 7300 square foot home.  This lot truly is the last of ... http://www.tomandsean.com/blog/2010/07/20/an-extraordinary-listing/ In a confirmation hearing held last week in Wailuku the first mortgage holders, led by Wells Fargo as trustee, won fee simple ownership of the Makena Resort. In effect the group agreed to pay itself $95 million. What this really does is simplify the entire situation surrounding the Resort. Either ... http://www.tomandsean.com/blog/2010/07/20/makena-now-owned-by-lenders/ U.S. mortgage rates dropped in the past week, with 30-year fixed-rate loans tumbling to their lowest level in 39 years, according to a survey released on Thursday by Freddie Mac, the second-largest U.S. mortgage finance company...Interest rates on U.S. 30-year fixed-rate mortgages, the most widely used loan, averaged 4.69 percent ... http://www.tomandsean.com/blog/2010/06/25/mortgage-rates-at-30-year-low/ Our friends at Calculatedriskblog.com have graphed months of supply and housing prices since 2002 and the results are striking. With only a slight lag, months of supply inversely leads leads home prices. When supply rises? Prices fall. When supply falls below six months? Prices tend to rise.   For details about what ... http://www.tomandsean.com/blog/2010/06/25/a-fascinating-correlation/ The NAR reported sales figures for existing homes today. Here is a key snippet:   Existing-home sales...were at a seasonally adjusted annual rate of 5.66 million units in May, down 2.2 percent from an upwardly revised surge of 5.79 million units in April. May closings are 19.2 percent ... http://www.tomandsean.com/blog/2010/06/25/may-national-sales-figures/ The American Affluence Research Center conducts semi-annual surveys of the wealthiest 10% of US Households. Here are some interesting results from the Spring 2010 survey: Expect stock market to remain flat for the next twelve months 2.6% plan to buy a new vacation home The highest net worth sub-category ... http://www.tomandsean.com/blog/2010/06/21/the-affluent-market-2/ Hawaiian Airlines has resumed direct service between Maui and San Diego! Great news! http://www.tomandsean.com/blog/2010/06/21/san-diego-maui-direct/ A recent decision by the State Supreme Court has blocked the proposed Kuilima Resort Turtle Bay expansion project until an updated Environmental Impact Study has been completed. The decision ruled that given the age of the EIS (25 years old) that the development was now "essentially a different action."  The ... http://www.tomandsean.com/blog/2010/06/21/impact-of-turtle-bay-decision/ According to CoreLogic ? National home prices increased in April, the second consecutive monthly increase. According to the CoreLogic HPI, national home prices, including distressed sales, increased by 2.6 percent in April 2010 compared to April 2009. This was an improvement over March?s year-over-year price increase of 2.3 percent. Excluding ... http://www.tomandsean.com/blog/2010/06/21/corelogic-sees-nationa-prices-increase/ You may continue to hear a great deal of kvetching about the Maui real estate market. Don't believe it. The Leading Edge continues to perform!   We are pleased to announce the sale of Wailea Point unit 2801. This two-bedroom unit with a view to die for can be seen ... http://www.tomandsean.com/blog/2010/06/01/two-more-tom-and-sean-oceanfront-closings/