Aloha! ? (ah…those Mai-Tais!)
Sorry 49’er fans (me included) but it was a great run. Congratulations to the Kansas City Chiefs (from Missouri!), and let’s move on to Real Estate.
Year-end statistics for 2019 are in so here’s a quick overview:
The quick read shows median Home prices up 4% year over year from 2018, Condos up 3%, and Vacant Land up 4%. Numbers of sales were down an insignificant 2% and 3% in Homes and Condos, while dollar volume was actually up—reflecting the rise in prices across the year. For those who would like a much more in-depth report, click here. All in all, 2019 was a good, solid year for Maui Real Estate sales, with more of the same expected for 2020.
While we’re on the subject of statistics, I also receive financial market updates from a local Mortgage Broker, Kathy Rosales, twice monthly. I have been working with Kathy for some time now and find her to be astute and responsive, offering a complete portfolio of loan options from jumbo loans to no down-payment first-time homebuyer programs and everything in between. Here is a link to her most recent report. Some of the highlights include:
In a unanimous decision, the Fed left rates unchanged. They noted that the labor market remains strong, economic activity is rising at a moderate pace, job gains are solid, and unemployment remains low.
It seems like the Fed will be purchasing Treasury Bills for quite some time.
Inflation does remain muted in the reports the Fed follows closely, which is good news for fixed investments like Mortgage Bonds and the home loan rates tied to them.
As you know, I often include articles I receive from various online resources as they relate to Real Estate. One of particular interest to me crossed my desk a couple of days ago. Although it was directed to the Realtor community, it certainly has a much broader application in the everyday lives of many. Numerous studies have shown that people of all ages and all walks of life can benefit from the companionship and emotional support derived from pets.
Feeling a little burned out? Stop what you’re doing and go pet a dog or a cat.
Here are just a few ways that pets are beneficial to our lives:
Pets are good for your health. According to The Human Animal Bond Research Institute, pets are responsible for saving their owners $11.37 billion on doctor visits. From walking pets alone five times per week, owners have saved $419 million in healthcare costs, and often have lower obesity levels…Pets make you more social…A pet can bring out your personality…and more! Click here to read the full article.
So, I have had pets most of my life—dogs mostly until I reached mid-life, and cats since then. They’ve always been there, I’ve always loved and cared for them, I’ve always mourned their passing. I’m pleased to say that our Maui Humane Society is a “no kill” facility, meaning that no animal that is not a danger to the community is euthanized.
Of course, this requires much support from the community, providing homes for the animals and financial assistance to help support the non-profit. It all started for me some years ago when I began making an annual donation. Then I made donations on behalf of my children’s and grandchildren’s birthdays instead of giving them gifts, which they all greatly appreciated. Then MHS became my designated non-profit for my Amazon Prime smile.amazon donations. Recently I became a monthly donor, and now I’m working on a whole new branding for my business as the “Pet Friendly” Realtor. I’m very excited about this and hope to be able to introduce my plan to the marketplace within the next 30-60 days. This will be a significant benefit to the Maui Humane Society and give me a great deal of personal satisfaction.
Here’s a look at some great homes and condos for all of you out there who are still “Maui Dreamin’”:
Condo’s Under $1,000,000
|MLS #385327 $469,000, 1BR/1BA; OV (Ocean View)|
Condos Over $1,000,000
|MLS #384817 $1,225,000, 2BR/2BA; OV|
Homes Under $1,000,000
|MLS #385230 $698,000, 3BR/2BA|
Homes Over $1,000,000
|MLS #383119 $2,099,000 4BR/4.5BA OV|
OV* This one is really special; be sure to take a look!
Here’s some important information for those of you with short-term rental (less than six months) properties on Maui:
New vacation rental fines for unpermitted transient vacation rentals on Maui took effect on Dec. 27, 2019.
Section 13-10 of the County Charter was updated after the 2018 election, to specifically state, “the penalty for the operation of a transient accommodation without a necessary permit shall not exceed a civil fine of $20,000 plus $10,000 per day for each day the unlawful operation persists, unless a higher fine is authorized by State law.”
The prior version of the Charter limited penalties to $1,000 initial and $1,000 per day.
These new fines are primarily directed at residential properties that do not have B & B permits or zoning for short-term rentals. If you have questions regarding compliance for these or any other vacation rental properties on Maui, feel free to give me a call.
As always, mahalo for following my Monthly Newsletter. I look forward to the day the rubber actually hits the road and I can take you out in my swanky Subaru Outback to find the perfect Maui property for you. And Realtors—let’s kick the year off with a nice Referral Fee, yes?
Until next month, a hui hou!
Mahalo Nui Loa!