December Newsletter

//December Newsletter

December Newsletter

 

 


Fine Island Properties Monthly Newsletter

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Aloha,

Ho Ho Ho. Mele Kalikimaka and Happy Holidays!
Festivities and Real Estate are both in full swing this December in Hawaii.
37.4% of all Maui sales have been cash.  If you are looking for that perfect house or that bargain so are many other people.  It takes a Great Real Estate Team, and Patience to get across the finish line.  We are seeing delays from lenders so we know up front to negotiate these obstacles if you plan on financing.  If you are thinking of a cash purchase then there is a definite advantage.  If you have equity in another property it may be advisable to do an equity line for purchase of cash here and then immediately get the financing after closing.  Talk to your lender about these options.

We wish you and your loved ones a wonderous holiday and blessings for the new year.

At Fine Island Properties we are rooted in the culture of Aloha, our Maui community, and our professional knowledge.  We are ready to serve you and accomplish your goals, with Aloha!
Gina Duncan, R (PB)

Mortgage News

Overall, looks like the purchase market will be strong over the next two years, as even though interest rates are expected to rise moderately, wage growth should rise as well.  Bill Dallas shared some insights below:
Mortgage and lending expert, Bill Dallas, co-founder and CEO of cloudvirga, has some insights into the market outlook in 2017. “Trump’s campaign advocated the benefits of employees, he proposed to raise the federal minimum wage by $2.75 per hour. Improvement in wage growth along with a strong job market will give support to consumer spending, GDP is then expected to increase to 2.1 percent in 2017 and 2.0 percent in 2018, which in turn would cast an upward pressure on rates.
“The 30-year fixed mortgage rate is expected to remain at low 4 in early 2017, but increase to 4.2 percent for the full year 2017 and 4.6 percent in 2018.”
And Bill opined on the potential rise in purchase originations for 2017. “Economic growth and strong job market would encourage household formation, boosting household demands. Purchase originations in 2017 and 2018 are expected to grow to $1.08 trillion in 2017 and $1.14 trillion in 2018.”

I think this gives some perspective to the projected economic environment.  For any of your lending needs please contact me.

Mahalo,

Gary Rosenberg | Senior Loan Officer

4211 Waialae Ave. #8090 | Honolulu, HI 96816
tel (808) 440-0910 | mobile (808) 264-3715 | fax (808) 356-0715 

NMLS ID number: 337951
Company NMLS ID Number: 2550

Maui Real Estate Statistics

Brief Maui Statistics Overview:SPECIAL NOTE: Pages 1 & 2 – Current Month vs. Year Ago Month Numbers for Residential and Condo are somewhat skewed as November 2015 sales unit numbers were unusually low (lowest in all of 2015). This unusual quirk makes the comparison look greater than it really is. November 2016 numbers look in line with the rest of 2016. See Page 4 November 2015/2016 numbers (lower right corner) for better reference.

Page 4 – November’s Sales Unit Volume – Residential and Condominium sales increased to 91 homes and 111 units sold respectively. Land sales decreased to 10 lots sold in November.

Page 5 – November’s Median SALES prices –The Residential median price remained steady at $635,000 while the Condo median price declined to $380,000. Land median price decreased to $377,065.

Page 6 – Days on Market, Residential homes = 107, Condos = 116 DOM, Land = 152 DOM. (General DOM Note: this is the average DOM for the properties that SOLD. If predominantly OLD inventory sells,
it will move this indicator upward, and vice versa. RAM’s Days on Market are calculated from List Date to Closing Date [not contract date], including approximately 60 days of escrow time.)

Pages 10 – 14 – This month’s “Year to Date Sales” numbers compare the first eleven months, January-November 2016 to January-November 2015. Shorter timeframe (monthly) views do not necessarily reflect the longer timeframe trends.

For a more comprehensive view, see 2015’s Year-End (Dec. 2015) figures available at:
http://www.ramaui.com/UserFiles/File/Stats/All-December2015.pdf

YTD – Residential unit sales declined (979 homes sold / -18 units / -2% change YTD), average sold price = $954,728 (+10% change YTD), median price = $635,000 (+9% change YTD) and total dollar volume sold = $934,678,392 (+8%YTD). [Note: The large increase in this year’s Sprecklesville/Paia/Kuau Residential YTD Total Dollar Volume is due in part to the sale of an unlisted $18,000,000 beachfront property in July.]

YTD – Condo unit sales increased (1,187 units sold / +99 units sold/ +9% change YTD), average sold price = $619,026 (-3% change YTD), median price = $415,000 (+1%YTD). Total Condo dollar volume sold = $734,783,961 (+6% change YTD).

YTD – Land – NOTE: Land Lot sales are such a small sampling that statistics in this property class are not necessarily reliable indicators. The number of Land lot sales remained steady (141 lots / +3 lots sold / +2 % YTD change), average sold price = $663,579 (-29%), median price = $469,500 (-4% change), Total dollar volume = $93,564,606 (-28% YTD).

Total sales for immediate past 12 months: Residential = 1,072 (with 10% being REO or Short Sale), Condo = 1,289 (4.7% REO or SS), Land = 157 (2.6% REO or SS).

NOTE: 37.4% of these Sales in the last 12 months have been CASH transactions.

December 2016

In this issue…

  • Our Featured Properties
  • Mortgage News
  • Monthly RE Statistics
  • Outside of Real Estate – Calendar of Events
  • Video of the Month-

VISIT FineIslandProperties.com 
for Maui Listings Search, our Blog, and More!

If you know of anyone looking to purchase a home or sell their home please don’t keep us a secret.  We will treat your referrals with the experience & aloha they deserve.  No Pressure, just Aloha Services. 

“The Key to your Hawaii Real Estate Success”

Click Here

Our Featured Properties

1037 Ilima Avenue
Link to MLS Listing
Contact:
Gina Duncan
RB – 21124

Direct: 808-250-9858

Lanai City Charmer. Tropical cool breezes from the many newer windows make this home light and bright. The main level boasts high ceiling in the spacious open living area & kitchen areas, two bedrooms and lower level offers spacious Master Bedroom with fully bath that was remodeled in 2011 along with another full bath. Master can also be additional family room or large home office. Outside entry also to the remodeled area. Carport attached to the home for extra storage and 2 car tandem parking. Add door to convert to garage. Perfect Lanai home with low maintenance CMU fenced yard. Yard has papaya tree, small grassy area in front and patio space out back that is great for outdoor entertainment. Centrally located to the shops and restaurants, Dole Park just a few blocks away.

Unit 6 Kamaole One
Link to MLS Listing
Contact:
Dan Uhrich
R (S), RS-
75656
Direct: 808-268-3435

Stunning! Unique!! One of a kind remodeled 2 bed/2 bath corner-end unit in prestigious South Maui in a secluded small boutique complex. Located on one of the most pristine beaches in all of Maui….Charlie Young Beach!! Kamaole One has only 12 units and rarely ever come on the market. Take advantage right now of owning one of Maui’s premier properties!! This unit has been upgraded to New York standards: Top of the line Jennair appliances throughout in a copper finish, designer bathroom fixtures and faucets, designer flooring and quality designer furnishings. It has two split system A/C units, new full size washer and dryer, and a LOFT!!! which can be used as an office, art studio, or simply extra storage. Vaulted ceilings with extra windows provide those amazing ocean views and sunsets!

Calendar of Events from GOHAWAII.com

Click on Link Here for exciting upcoming activities and events on Maui.

Our Visitor activity spotlight this month is on Golf.  If you are a Golfer than Maui
is more than just paradise, it is Golfer’s Heaven.
Please see the link from our friends at GoHawaii and check out all that Maui has to offer for Golfers
novice and expert: http://www.gohawaii.com/maui/experiences/golf/

 

Click the image for the link to the events.

Our Video of the Month

 

Numbah One Day of Christmas - Hawaiian Christmas Song (HD)

Numbah One Day of Christmas – Hawaiian Christmas Song

Our Team

 Gina Duncan
Principal Broker
RB-21124
Direct: 808-250-9858
 Marion Haller
Broker-in-Charge RB-18060
Direct: 808-250-8553

 Christina “Chris” M Bakeman
R (B), RB-19188
Direct: 808-283-6126


Rhonda J Faleafine

R (S), RS-65614
Direct: 808-250-1463


Matt Daniells

R (B), RB-19622
Direct: 808-281-7175


Alicia Souza

R (S), RS-69029
Direct: 808-284-0049

Melissa Nakagawa
R (S), RS-77950

Dan Uhrich
R (S), RS-

75656
Direct: 808-268-3435

Fine Island Properties LLC
RB-21750
“The Key to Your Hawaii Real Estate Success”
275 W. Kaahumanu Ave 2CA1
Kahului HI 96732
Located in the Queen Kaahumanu Center
Next to the Armed Forces Recruiters Offices

Copyright © Fine Island Properties, LLC, All rights reserved.

Our mailing address is:
275 W Kaahumanu Ave 2CA1  Kahului HI 96732


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