NATIONAL HOME SALES REPORT
February 25th, 2008The National Association of Realtors released January numbers today, here are some snippets:
OUR INCREDIBLE TREASURE
February 22nd, 2008
PROPOSED NEW TVR RULES
February 22nd, 2008One of the big debates on the island with regard to Maui real estate is what to do with transient vacation rentals. It looks as though the planning staff is trying to come up with some solutions.
NEW IRS GUIDELINES FOR VACATION HOMES
February 22nd, 2008One question we frequently get is how does the IRS treats the sales of second homes and rule 1031. The IRS has just issued Revenue Procedure 2008-16 . It can be summarized as follows. A vacation home qualifies if the following are true:
ARCHITECTS BUSINESS SLOWING
February 22nd, 2008This may not reflect directly on Maui real estate, but across the nation, architects are seeing a decline in business.
TOM AND SEAN OCEANFRONT CLOSING
February 15th, 2008We are pleased to announce the sale of Hale Ilima, located at 3060 South Kihei Road. This Keawakapu beachfront home of five bedrooms, a swimming pool and spa and a caretakers' cottage sold for $10 million which represents a per square foot value in excess of $1750. In this difficult market, this extraordinary sale was made possible by our Leading Edge Marketing Sysytem. The market for Maui real estate is facing challenging times. The Leading Edge Marketing System provides the optimal tools to a seller today.
BREWBAKER SPEAKS!
February 7th, 2008As you know bank of Hawaii Chief Economist Paul Brewbaker is one of our favorite sources of information. He has just released his January Hawaii Economic Trends. Here are some high points:
WAILEA MAKENA JANUARY RESULTS
February 6th, 2008In the Maui real estate market, January was not kind to Wailea and Makena. Eleven condominiums sold in January 2008 compared to sixteen in 2007. They obtained an average per square foot price of $1,011, compared to the 2007 average of $1,236. Only four of those were in oceanfront complexes which explains some of that value decline. Eight condominiums went into escrow in January, compared to thirteen a year ago. Of the units in escrow, seven are located in oceanfront complexes. Over 180 units remain for sale. At the current seasonally adjusted sales pace, that is over two years of inventory.These numbers exclude pre-construction sales of new projects.
2008 RESEARCH BOOKS ARE HERE!
February 6th, 2008Tom and Sean's third annual research reports are in the mail! As always there are separate books for the Maui Oceanfront, Wailea/Makena and Maui Meadows. These studies are the finest research available on the Maui real estate market. For your copy, go to the right side of this page.
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