Gary's Blog

Thursday, April 1, 2010

Wailea/Makena Real Estate Booming!

With a $27.5 million Makena home in escrow, FOUR Wailea Kialoa, a Papali, FIVE Maui Meadows homes in escrow, a Wailea Pualani, four Ho'olei units in escrow, two Kai Malu homes, a Kanani Wailea in escrow (a subdivision which has resisted buyers for almost a year!), FIVE Palms condos in escrow, two Wailea Fairway Villas, two Wailea Point units, four Wailea Ekahi, three Wailea Ekolu, a Grand Champions (multiple offers on this one, priced 60k over the last sale!), and THIRTY NINE CLOSED escrows already in Wailea, Makena, and Maui Meadows, things are looking up for South Maui real estate owners and agents.

It looks like the pent-up demand is finally releasing the breaks!

Lots of statistics this week give consumers confidence above an beyond normal. Maui visitor counts are up for the second month in a row, leading the state in growth. Over 7% increase from a year ago. For visitors who chose to visit only one island, Maui island visitor count grew by 12.4%!

Nationally, consumer spending is growing, up 0.3% in February, marking the fifth straight monthly gain. And factory orders rose again in February, the 10th increase out of the past 11 months. Meanwhile, the Federal Reserve holds it's Federal Funds rate at zero to 0.25%, until they start seeing a stronger recovery in employment.

Thank you God, for allowing us to survive that last one. With inventory still offering a good selection, sellers still offering fantastic discounts, foreign currencies at all-time highs, and interest rates at all time lows, we are looking forward to a good 2010, and an even better 2011!

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