Prices of luxury real estate are finally starting to rise, as bargain hunters swoop in. Some of the best deals are in second homes with pricesoff as much as 40%.

AT LONG LAST, THE MARKET FOR LUXURY REAL estate is coming back to life.

Prices for primary residences, which plunged at least 20% from the peak in 2007, appear to have bottomed. In some of the snappiest locations, scattered bidding wars are breaking out and prices are turning upward.

There’s nothing like a stabilized economy and a huge rebound in stocks to send folks looking for the perfect manse. The return of hefty Wall Street bonuses hasn’t hurt, either.

With all that in mind, and with summer just around the corner, Barron’s sized up the market for upscale second homes, one of the greatest luxuries of all. We scoped out dozens of deluxe enclaves across the country, speaking with brokers, homeowners and others. Our conclusion: Now could be an excellent time to buy.

Prices are way down — 40% off the peak in some locations. Seemingly at or near bottom, they are starting to attract the first wave of bargain hunters — and not just families in need of R&R. Hard-nosed investors also are on the prowl, says Jan Reuter, head of residential real estate at U.S. Trust Bank of America Private Wealth Management: “We’ve seen an uptick in buying in just the last couple of months.”

1. Maui Consistently rated the “Best Island in the World” by travel experts, this Hawaiian beauty underwent a growth spurt during the past decade that some critics bemoaned as excessive. But the southern coast, anchored by the hamlet of Wailea, has weathered it all well. One of the first master-planned resort communities in the nation, it’s a balanced blend of understated gated communities, luxury resort hotels, three excellent golf courses, a tennis center and, of course, several crescent sandy beaches. Wailea has 500 single-family homes, and their views are stunning: lush, verdant hills, brilliantly blue ocean and, after the steamy sun showers, rainbows over the horizon.

Median Price: $1.5 million
Drop From Peak: 27%
Neighbor: Oprah Winfrey

Visit www.LuxuryGreenRealEstateMaui.com to see ALL Wailea/Makena Property for Sale

The state’s resort real estate market is not out of the woods yet, but Honolulu analyst Ricky Cassiday said he believes he has detected signs that it finally touched bottom in the last quarter of 2009.

Cassiday, whose consultancy, Data@Work, sees signs of a turnaround in the price slump. Average prices fell 20 percent in 2009. Despite the crash in the number of transactions, which dropped by more than half, Hawaii resort real estate prices kept going up.

Ariel View of Wailea, Maui Resorts

That tells a much different tale. Prices peaked in the second quarter of 2007 at $1.5 million and fell steeply to $1 million by the middle of 2009. Since then, they have stabilized…As prices have stabilized, transactions have soared, from about 125 per quarter to about 200 in the last quarter of last year.

Another sign that the market may be getting ready to turn is the appearance of bargain hunters. Whether you characterize them as thrifty shoppers, bottom feeders or vultures, Cassiday said he sees people with money looking around for deals.

The Ho‘olei condominium project in Wailea came on line after the resort real estate peaked in the second quarter of 2007. Now, it appears prices may have bottomed out, according to Honolulu real estate analyst Ricky Cassiday.

LINK TO BARGIN DEALS ON FULLY FURNISHED HO’OLEI UNITS

Link to Maui News Article in Full

CONTACT MEGHAN CLAIR REALTOR (S),ECOBROKER TO LEARN ABOUT THE BEST OPPORTUNITIES TO PURCHASE IN THE WAILEA/MAKENA RESORT MARKET

MauiGreenRealtor@Gmail.com

Amazing views, Great location, EcoFriendly features, Upgrades Throughout, Golf membership benefits,Infinity Pool Pavilion, New construction!

WWW.HOKULANIHOMES.COM

Please call or email me to learn more about the Hokulani Golf Villas! I am happy to represent you in your Home Sale or Maui Property Search!

Aloha,

Meghan Clair
Realtor (S), EcoBroker
(808) 874-8668
MauiGreenRealtor@gmail.com

LINK TO ENERGY EFFICIENT HOME MODEL

Out of the recession is emerging a positive outlook for growth in energy efficient products and services for homes, according to a new report from Pike Research. This sector, which comprises energy efficient home improvements, high-efficiency appliances, and home energy auditing services, holds the potential to generate significant new revenue opportunities as well as creating a large number of new green collar jobs.

“Energy efficiency is stepping into the light after a long period of obscurity,” says managing director Clint Wheelock. “A number of factors are converging to make energy efficient residential products and services a hot sector over the next several years. These drivers include increased environmental awareness among consumers, government incentives, utility energy efficiency programs, and new offerings and rebates from product manufacturers.”

LINK TO MAUI ECO-FRIENDLY DEVELOPMENT: KAI ANI VILLAGE

— The home energy auditing business is a strong indicator of the coming of age for energy efficient homes. Pike Research forecasts that this market will nearly triple in size, from $8.1 billion in 2009 to $23.4 billion by 2014.

— The energy efficient home improvement market is forecast to increase from $38.3 billion in 2009 to $50.2 billion by 2014. This category includes upgraded electrical systems, appliances and major equipment, HVAC systems, roofing replacements, and window/door replacements.

— Energy Star certified refrigerators and clothes washers will generate revenues of $21.9 billion during the period from 2009 to 2014, under a business-as-usual scenario. In a scenario that includes increased penetration of these high-efficiency appliances, Pike Research estimates that another $11.3 billion could be added to this total.

CONTACT MAUI’S ECOBROKER MEGHAN CLAIR FOR MORE INFORMATION ON KAI ANI VILLAGE AND OTHER HAWAIIAN ECO-FRIENDLY REAL ESTATE: MAUIGREENREALTOR@GMAIL.COM

Maui’s housing market experienced dramatic swings in sales of single-family homes and condominiums in January compared with the same month a year earlier.

There were 46 single-family home sales on the Valley Isle last month, a 48 percent rise over 31 in the same month a year before, according to the Realtors Association of Maui.

The strong gain coincided with big jumps in January sales reported earlier on O’ahu, Kaua’i and the Big Island. But for Maui the jump came off a dramatic year-ago low.

Sales in January 2009 marked a low for any month since February 1997, according to trade association data.

Also lackluster was the median sale price that was down 16 percent to $469,000 last month from $558,000 a year earlier.

The number of Maui condo sales was down 31 percent to 71 last month, from 108 a year earlier. Again, the year-ago figure was somewhat of an anomaly as the most for any month since 2007 when Hawai’i’s housing market was still hot.

The median price for Maui condos was down 47 percent to $424,000 last month from $805,000 a year earlier. Again, the swing was influenced by the Honua Kai project. In Ka’anapali, there were eight condo sales last month for a median $722,500. A year earlier, there were 69 sales for a median $1.17 million.

The median is a point at which half the sales were for a higher price and half for a lower price, so a large number of new luxury condos will push the median higher.

Link to full Article

Interest rates are at historic lows but cyclical trends suggest they will soon rise. Home buyers may never see such a chance again, writes Marc Roth

Well, you may not be stupid or broke. Maybe you already have a house and you don’t want to move. Or maybe you’re a Trappist monk and have forsworn all earthly possessions. Or whatever. But if you want to buy a house, now is the time, and if you don’t act soon, you will regret it. Here’s why: historically low interest rates.

As of today, the average 30-year fixed-rate loan with no points or fees is around 5%. That is the lowest the rate has been in nearly 40 years. In fact, rates are so well below historic averages that it should make all current and prospective homeowners take notice of this once-in-a-lifetime opportunity.

From 1977 to 1981, a period of only 60 months, the 30-year fixed rate climbed to 18%.They hit 9% for a brief time in 1986 and bounced around 10% to 11% until 1990. For the next 11 years through 2001, the rates slowly ebbed and flowed downward, ranging from 7% to 9%. We’ve since spent the last nine years, until very recently, at 6% to 7%. So you can see why 5% is so remarkable.

So, what can we learn from the historical trends and numbers?

If you are someone who is looking to buy or upgrade in the $350,000-to-$800,000 home price range, and many people out there are, then you’re borrowing $300,000 to $600,000. At 7%, the $300,000 loan will cost just under $150,000 more over the lifetime, and the $600,000 loan an additional $300,000, if rates move up just 2% before you pull the trigger

CLICK HERE TO SEE INTEREST RATES GRAPH IN FULL

What I’m trying to impress upon everyone is that if you are planning on being a homeowner now and/or in the foreseeable future, or if you are looking to move your family into a bigger home, then pay more attention to the interest rates than the price of the home. If you have a steady job, good credit, and the down payment, then you really are being offered the gift of a lifetime.

CLICK HERE TO READ THE BUSINESS WEEK ARTICLE IN FULL

Contact Maui’s EcoBroker Meghan Clair of Coldwell Banker Island Properties Wailea to learn more about the once in a life time Real Estate Opportunities in South Maui! MauiGreenRealtor@Gmail.com

Graph is Copyright © 2009 Mortgage-X.com
Source: www.mortgage-x.com
Reprinted with permission

NUMBERS SHOW SALES ARE UP & HEADED IN THE RIGHT DIRECTION

Pending home sales in July reached their highest mark in two years, and closed sales also continued on an upward path. As a result, inventories are tightening; in June there were 3.8 million properties for sale nationally, compared with 4.5 million at the same time last year.

More broadly, there are other indications the economy is heading up. Durable goods orders have risen for three straight months because business inventories have been depleted. The stock market has also made a nice comeback, and exports have been rising faster than imports.

Thanks to these promising signs, we forecast higher home sales and stabilizing prices in the year ahead…

Click here to view the full article in Realtor Magazine October 2009

Here on Maui we have seen a huge increase in inventory sold over the past few months.

The low end of the market is being purchased quickly and prices are correcting themselves upward.

In the high end market, large estates, luxury vacation rental opportunities, and luxury homes have also seen a lot of movement, and infact selling at significantly lower than list prices.

To view Maui Listings visit: www.LuxuryGreenRealEstateMaui.com

View Green Building Articles, EcoFriendly Listings, & Meghan’s Newsest Ads
Maui A Property Portfolio
2009-2010
Recent Article: Maui Going Green by Meghan Clair Realtor (S), EcoBroker page 64 of MAPP

Maui County Energy Expo 2009
Maui’s Energy Future-Concept to Reality

September 10-11th, 2009
Grand Wailea Resort Hotel and Spa

*Article Below Featured in Real Estate Maui Style Magazine

This educational forum will bring together business, government, and community members to showcase current and emerging technologies in renewable energy. It will feature presenters and panels from a variety of disciplines and the lastest products and innovations in an exhibit area.

One of the primary goals of the 2009 Energy Expo is outreach to the community. The purose of the conference is to open iup a diald with the public about renewable enerfy an dobtain their feedback.

How can we best proceed in shaping a more secure and sustainable energy future for Maui County?

Protect Maui’s Future

Maui County Energy Expo Weblink

Link to PDF version of Expo Adgenda

MAUI CAN LEAD THE WORLD IN BEING THE 1ST 100% OIL FREE ECONOMY!

With abundant natural energies, a small island topography that includes almost all of the world’s climate zones and an outdated oil-based electricity system that has become the nation’s most expensive, Maui is the ideal place in the world for developing and showcasing the clean energy future. By presenting our solutions to almost 2.3 million affluent visitors, we can inspire and change people all over the world.

By declaring it a county and state policy to make Maui oil-free by 2020, government can set the stage for a surge of innovation at the private and public level. Maui can be the center of the world for clean energy technologies, attracting visitors from all over the planet to study our model economy and bring technologies and investments with them.

No place on earth has a policy to become oil-free by 2020. Iceland with its leading hydrogen economy plans to be off oil in 2050. Sweden with its unique zeal for independence has a plan for 2020 to reduce oil use by 70%. In the U.S. the states of Hawaii and California are leading with their planned emission reductions.

Let’s go 100%! Maui can be the first oil-free economy in the world and benefit from the enormous publicity and worldwide attention that comes with it. We need to act now, before someone else has the same idea.