Gary's Blog

Wednesday, December 23, 2009

US House Prices UP!

Washington, DC – U.S. house prices rose 0.6 percent on a seasonally adjusted basis
from September to October, according to the Federal Housing Finance Agency’s monthly
House Price Index. The previously reported 0.0 (zero) percent change in September was
revised to a 0.4 percent decline. For the 12 months ending in October, U.S. prices fell 1.9
percent. The U.S. index is 10.8 percent below its April 2007 peak.

Shoot me an e-mail for the whole article.

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US House Prices UP!

Washington, DC – U.S. house prices rose 0.6 percent on a seasonally adjusted basis
from September to October, according to the Federal Housing Finance Agency’s monthly
House Price Index. The previously reported 0.0 (zero) percent change in September was
revised to a 0.4 percent decline. For the 12 months ending in October, U.S. prices fell 1.9
percent. The U.S. index is 10.8 percent below its April 2007 peak.

Shoot me an e-mail for the whole article.

Friday, December 18, 2009

Layoffs on Decline

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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Hawaii is the 2nd Happiest State!

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?!

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Thursday, December 17, 2009

Fed Keeps Rates Low

The Federal Reserve decided yesterday to maintain the 0-.25% interest rate range for the federal funds rate for an "extended period". Great news for Maui real estate investors!

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Silicon Valley house prices

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

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Saturday, December 12, 2009

More Signs of Recovery

Retail sales grew in November by 1.3%, the healthiest increase since August and more than double the increased economists had predicted. Companies are rebuilding inventory also, the first increase after 13 consecutive declines. Chinese exports are mounting a comeback, as the U.S. dollar weakens against most foreign currencies.

Looking forward to Chinese buyers this winter coming to buy Maui real estate!

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Friday, December 11, 2009

Exports UP for 6th Straight Month!

The economic recovery is likely to draw strength from exports such as farm products, autos, aircraft and industrial machinery - all of which helped lower the nation's trade deficit in October.
Increased exports and a fall in oil imports combined to improve our trade deficit.

As a real estate broker, we are seeing Canadians, Japanese, and Chinese coming to Maui real estate with their strong currencies. We're looking forward to a strong winter season here in the Maui real estate business!

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Tuesday, December 8, 2009

Consumer Debt Down

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.

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HUGE Waves

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!

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Saturday, December 5, 2009

Good News Abounds!

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!

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Wednesday, December 2, 2009

More Airline Seats for Hawaii

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!

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More Economic Good News

Three positive reports came out yesterday.

1. The institute for Supply Management said its manufacturing index showed growth in November for a fourth straight month. Of the 17 industries surveyed, 13 reported higher orders.
2. The Commerce Department signaled growth with the report on construction spending, the first increase in six months.

3. The number of homebuyers who signed contracts to buy previously occupied homes rose for the ninth straight month in October.

Ok, Maui real estate, we're ready for a great high season!

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