Tag Archives: economy

Intrest Rates May Rise Mid Year

Posted on by

For the first time since the economy fell 7 years ago, the Federal Reserve is considering raising interest rates.  The move to raise interest rates could come as early as June.  Those looking to borrow money for a mortgage still have the opportunity to take advantage of the extremely low rates!

Some are surprised by the June date for rate increases.  Previously the Federal Reserve had indicated rates would increase much sooner than this spring.  The Federal Reserve will remain patient when deciding to raise the rates waiting for an improvement in the labor market.  With the drop in the market today, the Federal Reserve may decide not to increase rates after all.

For more information on the Federal Reserve interest rate news, you can view the entire article via the NY Times here.

FullSizeRender-4

Pending Trends Jan. 3 to March 13

 

With the possibility of a rate increase in the near future, now is the time for those looking for property to buy so take advantage.  Pending listings are at their highest this year with 83 properties pending from March 7 – March 13!  The Hansen Ohana is a full service real estate company ready to help you reach your property dreams!  Contact us today!

Maui Real Estate Review Through February 6th

Posted on by
mauimap

Maui Map

In the last few weeks, Maui has seen lots of activity on the real estate market. In total, there are 200 homes and additionally 207 condominiums pending. 10 new listings went on the market from January 24th to January 31st.

Condos are leading the way in pending activity with 48%. Single-family homes are very close behind at 44%.   Price range has $499,000 and below with the most pending activity. Most of properties pending in this range are condominiums. Single-family homes with the most activity are in the $500,000 to $750,999.

Kihei, Wailuku and Napili/Kahana/Honokowai were the top areas properties went pending. As always, The Hansen Ohana strives to keep you up to date with the latest news and activity on real estate. Feel free to contact us today for any and all your real estate needs.

Maui Real Estate Group

Year End Deadlines

Posted on by

For Homeowners on Maui and Hawaii counties, the deadline to file for home exemption is December 31.  If you miss the deadline you will have to wait until the next fiscal year to file.  More information and forms can be found on County websites.  For Maui, Real Property Tax Division and for Hawaii, Real Property Tax Division.

With the year-end scramble upon us right after the holiday season, it’s no surprise that many people feel stressed and unorganized.  The start of a new year is a great time to get organized, tidy up paperwork, and start preparation for tax season.  Need help getting started? Trulia has a great checklist for the 12 Things You Must Do Before The Years Over.  Great ideas for both homeowners, renters, and just those looking for organizational tips.

The Hansen Ohana hopes your holiday season has been a safe and happy one!

August Stats

Posted on by

statistics

 

Condo sales had a rise not only in unit sales, but also in median price this month. 94 units were sold in August. Volume increased to $75 million compared to last year at $61 million.

For buyers making an offer, well-priced properties are drawing multiple offers. Cash still is king! Property purchasers paying with cash are able to have a stronger negotiation with a shorter close and no appraisal hassles. Don’t forget to get pre-approved! Interest rates are starting to increase. Pre-approval is recommended enabling buyers to shop with confidence.

Although residential unit sales decreased by 6%, the average selling price increased 15%. For sellers, property needs to be competitive with realistic pricing, flexible terms, and good property condition. Help prevent escrow fall out by having properties appraised, inspected, and surveyed. Realistically priced properties are selling!

The Hansen Ohana strives to keep you up to date with the latest in real estate news. If you or anyone you know is looking to buy or sell property, don’t hesitate to contact us! Thank you to Terry Tolman of the Realtors Association of Maui for the statistical compilation and market insight.

Statewide Buyer Stats For September

Posted on by

Canadians were the number one foreign purchasers of property on Maui from January 2014 to June 2014 with over $53 million.  Japan was second with over $6 million.  Within the United States, Hawaii ranked number one with purchases of over $285 million.  California was not too far behind ranked second with over $194 million.

South side of Maui had the highest number of transactions, with 368.  West side came in second with number of transactions but first in transaction amounts with over $297 million.

With an increase in travelers visiting the islands, there is an expected increase in home sales. West coast states as well as foreign buyers from Canada and Japan are the likely property buyers.  You can view more information on Buyer Stats courtesy of Title Guaranty here.  If you or anyone you know is looking to sell or purchase property on the islands, contact the Hansen Ohana today!