NEWSLETTER XII

6/1/00

Here we are half way through the year 2000, and if you are like me, you wonder where the months have gone.

The first three months of this year the real estate market was sizzling, with sales exceeding the prior years sales. I subscribe to the BUSINESS JOURNAL from Silicon Valley, and I noted a similar report from Realtors in that area.

In the meantime, the Stock Market had taken a hit, and some of my High Tech clients have lowered their sites as to the amount of money they want to spend for a second home, although it has not diminished the desire to own property here on Maui.

When people who live here are asked the question "Why do you like living here on Maui"? The answer always starts with the WEATHER, and the month of May has been spectacular, although we could use a little rain.

Having said that, although the inquiries have slowed down a bit, the inventory here on Maui is still getting slimmer as the available property continues to sell off.

There is more current construction going on than we have experienced for over a decade, and many of those homes are for "spec homes".

The new 72-unit condominium project located in the Kaanapali Golf Estates called the "VINTAGE" is under way with close to 120 or so reservations.

The COCONUT GROVE located on the famous Kapalua Beach is all sold out. There are Eight two story buildings, with four, three bedrooms in each building, which are Priced in the $1,600,000 to $2,200,000 price range. At this point in time, I cannot even find anyone that will sell the prime oceanfront, center units for $3,000,000 once they close escrow.

Traditionally a portion of May and June were the slowest time of the year, but it now appears that the seasons are overlapping a bit. With the popularity of Maui increasing and the inventory of property shrinking, the prices for property are moving up. In some cases just a tad, but for homes, quite a bit, since there are so few for sale at this time.

After living here on Maui for over 31 years, we have exceptional experience in handling our clients' best interests when purchasing property on Maui. Please do not hesitate to call us regarding any questions you might have.

Aloha

Cliff and Mako Mc Queen (ra)
President of Maui Isle Realty

Copyright© 2000 Cliff McQueen