Yes, a slightly new look for the new decade. I hope the emoji doesn’t cause this to go into your spam folder!
A new year always presents with great expectations and high hopes, and a new decade even more so. Of course, few of us were around for the Roaring 20’s of the 20 th Century, but now we have the opportunity to make our own Roaring 20’s. In spite of itself at times, the economy remains strong and the stock market has embellished many a 401K or private portfolio. Whereas there were some indicators in the 4 th quarter of last year that Real Estate sales were wavering, early predictions for 2020 would have one believing otherwise.
Home-Building —Although homebuilders remain optimistic, housing starts may not keep up with demand due to shrinking inventories of existing homes. Predictions range from 4%-10.6% comparing year-over-year home starts from 2019.
Home Prices —After a brief lull, home prices are expected to increase in 2020, with predictions ranging from a high of 3.6% to a low of .8%. Zillow came in at 2.8% to 2.5%.
Home Sales —Despite continued low mortgage rates with the possibility of them dropping even lower during 2020, buyers will continue to grapple with limited options (like you really have to qualify for a loan now!). Home sales inched up by 2.7% last year with more of the same expected for this year.
Markets to Watch —“Top ten markets to watch” see Charleston, SC and Charlotte, NC topping the list of hot markets with Raleigh-Durham, NC and Tampa-St. Petersburg, FL coming in at 9 and 10.
For that and more, including Mortgage Rates, Odds of a Recession, “Takeaways”, and comments from some of the top Real Estate Economists from around the nation click here .
And as a side note, please keep in mind that these are national statistics and Hawaii/Maui don’t necessarily “run with the crowd”, so to speak. Further into the body of this Newsletter you will find statistics specific to Maui, and I will be keeping you updated on trends in Maui throughout the year.
Here are some of my top picks going into the new year with something for every budget:
Condo’s Under $1,000,000
|MLS #385553 $464,900 1BR/1BA OV (Pending)
MLS #384565 $550,000 1BR/1BA OV
MLS #385144 $589,000 1BR/2BA OV
MLS #384168 $699,000 2BR/2BA OV
MLS #385304 $879,900 1BR/1BA OV
MLS #385021 $899,000 2BR/1BA OV
OV = Ocean View
Condos Over $1,000,000
|MLS #385524 $1,174,000 1BR/1BA OV
MLS #383908 $1,475,000 3BR/2BA OV
MLS #384330 $1,595,000 2BR/2BA OV
MLS #385414 $2,488,800 2BR/2BA OV
MLS #384423 $2,900,000 3BR/3.5BA OV
MLS #380427 $3,825,000 3BR/3.5BA OV
Single-Family Homes Under $1,000,000
|MLS #385230 $698,000 3BR/2BA
MLS #384780 $700,000 3BR/2BA
MLS #385018 $875,000 4BR/2BA
MLS #385363 $875,000 2BR/3BA
Single-Family Homes Over $1,000,000
|MLS #385188 $1,378,000 4BR/4BA OV
MLS #385403 $1,898,000 4BR/3,5BA
MLS #385214 $3,650,000 3BR/3.5BA
MLS #383405 $12,900,000 3BR/3.5BA
MLS #385437 $27,498,000 4BR/5.5BA OV
As you know, I always like to close with a little Maui lifestyle. On March 29 th , the iconic duo of Daryl Hall and John Oates ( Hall and Oates ) will be performing at the Yokouchi Pavilion–our 5,000 seat outdoor stadium—in what will be a bit of a reunion show for them. In addition to numerous #1 hit records, the Record Industry Association of America recognized Daryl Hall and John Oates as the #1 selling duo in music history, a record they still hold today. There’s nothing like a concert under the stars on a balmy evening in Maui!
In parting, I would like to mention that many of you have probably heard about the spate of fires we suffered here on the island this past year. Like many places worldwide, warmer temperatures and drier weather contributed to these incidents. But due to a number of factors, damage was minimal—confined primarily to open areas with dry brush and a fire department that responded quickly.
Again, I hope 2020 is a fabulous year in every way for you and yours. Let’s all do our share to make it happen! And as always, thank you for following my Monthly Newsletter!
Mahalo Nui Loa!