November 2013 Sales Statistics - Source: Realtors Association Maui

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November 2013 Sales Statistics - Source: Realtors Association Maui

Residential sales declined to 74 homes sold while Condominium sales declined slightly to 96 units sold. Land sales came in at 22 lots sold.

The Residential home median price declined slightly to$522,500 while the Condo median price was $350,000. Land median price came in at $538,686.

Days on Market, Residential homes = 112, Condos = 128 DOM, Land = 273 DOM.

Year to Date:

Residential unit sales increased (903 homes sold / +49 units / +6% change YTD), average sold price =$771,028 (+14%YTD), median price = $530,250 (+14%YTD) and total dollar volume sold = $696,238,285(+20%YTD).

Condo unit sales increased (1,218 units / +107 units / +10%YTD), average sold price = $567,827 (+22%YTD),median price = $375,000 (+6%YTD). Total Condo dollar volume sold = $691,613,102 (+34% YTD).

Land lot sales increased (196 lots / +49 units / +33% YTD), average soldprice = $667,203 (+13%), median price = $400,000 (+14%), Total dollar volume = $130,771,747 (+51% YTD).

Total sales for immediate past 12 months: Residential = 987 (with 19.5% being REO or ShortSale), Condo = 1,360 (10.1% REO or SS), Land = 226 (11.5% REO or SS).

Current Absorption Rate base on this month’s Active/Pending-Continue to Show/Contingentstatus inventory divided by November Sales is:
Residential = 7.6 months, Condo = 7.6 months, Land = 17.6 months of inventory.

Healthiest State Rankings: Hawaii Tops 2013 List - Huffington Post Hawaii

Where you live could say a lot about your health habits -- and a new ranking reveals which states have it the best and worst.

On a whole, Americans are adopting healthier behaviors, such as stopping smoking and increasing physical activity, according to the report, published by the United Health Foundation, American Public Health Association and the Partnership for Prevention.

The report also shows that the percentage of smokers has dropped to 19.6 percent in the U.S. from 21.2 percent in the last year. And physical inactivity has dropped on a whole to 22.9 percent in the last year, down from 26.2 percent.

The findings are based on multiple sources of data, including the FBI, the American Medical Association, the Centers for Disease Control and Prevention, the U.S. Department of Education and the Census Bureau. Rankings are based on a number of criteria, including premature death, infant mortality, preventable hospitalizations, high school graduation rate, violent crime, health insurance, child poverty, obesity, diabetes, physical activity and immunizations.

Among other general findings:

- While 27.6 percent of adults are obese in the U.S., the percentage has not increased from the last year (it was 27.8 percent in 2012). The report also showed that 9.7 percent of adults have diabetes. 
- The infant mortality rate has decreased 39 percent since 1990.
- Fewer people are dying from heart-related disease; cardiovascular deaths decreased 36 percent since 1990. 
- Fewer people are also dying from cancer: Deaths from the disease decreased 3 percent since 1990.

Take a look at the list below to see the top 10 states and the bottom 10 states in the 2013 ranking:

Top 10:
1. Hawaii

- Fewer people in Hawaii are lighting up, with smoking prevalence decreasing to 14.6 percent of adults from 16.8 percent a year ago.
- Violent crime decreased from 287 offenses per 100,000 people, to 239 offenses per 100,000 people in the past year. 
- The state boasts the country's lowest rate of preventable hospitalizations.
-Infant mortality decreased in the last year to 6.9 deaths for every 1,000 live births, from 7.7 deaths for every 1,000 live births. 
- However, the state does have a high prevalence of binge drinking, as well as a low high school graduation rate. 
- Hawaii also ranked first in the healthiest state ranking last year.

For the full list, visit: http://www.huffingtonpost.com/2013/12/11/healthiest-state-rankings_n_4412574.html?ncid=edlinkusaolp00000009&ir=Hawaii

5 Hawaiian Words To Redefine Health, Happiness And Power In Your Life - huffingtonpost.com

http://www.huffingtonpost.com/2013/09/03/hawaiian-health-and-happiness_n_3854391.html?ir=Healthy+Living

For many first-time visitors, Hawaii is a place where perfect weather and pristine beaches make for good vacationing and pretty postcards.

But Hawaii is much more than its idyllic setting. For native Hawaiians and those lucky enough to call the islands home, Hawaii is a way of life and a way of thinking. The native Hawaiian concepts of pono, aloha, aina, ohana and mana are crucial to understanding how Hawaii has consistently ranked as the least stressed and happiest state in America.

Apply these concepts to your own life and you may begin to understand what all the fuss is about.

1. Pono generally translates to righteousness. According to actor Jason Scott Lee, who grew up in Hawaii, living pono means living "with a conscious decision to do the right thing in terms of self, others, and the environment." The idea that moral character leads to happiness has been around since Aristotle, but few places incorporate the idea into everyday life as much as Hawaii. The importance of pono, or doing what is morally right and selfless, is even found in the state's motto: "Ua Mau ke Ea o ka Aina i ka Pono," or "The life of the land is perpetuated in righteousness."

2. Aloha: When you look up "aloha" in the Hawaiian dictionary, every warm and fuzzy word in the English language pops up: love, affection, compassion, mercy, sympathy, pity, kindness, sentiment, grace, charity. Aloha is most often used as a greeting or parting phrase to create an atmosphere of friendliness and love, but the aloha spirit is a part of everything in Hawaii: people surf with aloha, cook with aloha, and even write work emails with aloha. It's as if people in Hawaii are constantly surrounded by an affirmation or mantra to live life with love.

3. Aina means land. Life in Hawaii is lived outdoors -- malls, homes, offices, and even the airport are built with open-air walkways, large windows, or lanais (balconies or patios) so you're never fully indoors. Native Hawaiians see their identities and wellbeing entwined with the land, and so respecting it and living in it are of the utmost importance. You don't have to live in a tropical paradise to be connected to nature, however. A recent Canadian program initiated by the David Suzuki Foundation challenged participants to get out into nature for 30 minutes a day for 30 consecutive days. According to Dr. Elizabeth Nisbet who conducted the research, participants reported "significant increases in their sense of well-being, feeling more vitality and energy, while feelings of stress, negativity, and sleep disturbances were all reduced." Simply having lunch outside or taking a stroll through a park can help reconnect you to the aina.

4. Ohana, as the movie Lilo & Stitch taught us, means family. The word comes from oha, which is the highly revered taro plant, and it signifies that all ohana come from the same root. No matter how distantly ancient Hawaiians were related, they recognized that they all came from the same root and thus were all part of the same family. Ohana is more generally used to describe any group of people with a common bond; people in Hawaii have a community ohana, a friends ohana, even a work ohana. One of the clearest findings from happiness research is that humans are social creatures -- we need to feel like we're part of a group and that we have support and security. Imagine how differently you would feel if you approached your work colleagues like they were your family.

5. Mana translates to mean power, but the native Hawaiian concept of power doesn't equate to material possessions or what floor your office is on. Mana is a life energy that flows through all things and is highly individual: you have a chance to gain or lose mana in everything you do. In Fundamentals of Hawaiian Mysticism, Charlotte Berney explains that, "Having meaningful work to do, enjoying harmonious relationships with those around you, and being of service in some way all help to gather mana."

Perhaps one of the best examples of mana can be seen in the late Hawaii Senator Daniel K. Inouye's life and career. The beloved Inouye was often described as soft-spoken, modest, and a man of integrity, and his mana led him to be the second longest-serving senator in U.S. history. His last word was "aloha."

What Hawaiians Can Teach The Rest Of America About Living Better - Huffington Post

http://www.huffingtonpost.com/2013/08/04/hawaii-life-expectancy_n_3682588.html

Hawaii’s tropical island paradise isn’t the fountain of youth, but it’s close. Hawaiians not only live longer -- they’re less stressed and happier than residents of any other state.

Just how much longer are Hawaiians living? A 65-year-old in Hawaii will live another 16.2 years on average, as compared to another 10.6 years in Mississippi, according to recent data from the Centers for Disease Control and Prevention. And in addition to living longer lives, Hawaiians are getting happier as time goes on. For the past four years, Hawaii has taken the top spot in Gallup-Healthways' statewide well-being poll.

So what are the Aloha State’s secrets to happiness and longevity?

Hawaiian Time

The slowed-down, low-stress island lifestyle gives Hawaiians a major health advantage. Less than one-third of Hawaiian residents say they're stressed out on any given day, making them the least-stressed state population in the country.

What does that slowed-down life look like? “It's what we call 'Hawaiian time and Hawaiian style,'" Rochelle Ballard, a Kauai surfer and founder of Surf Into Yoga retreats, tells the Huffington Post. "It's just enjoying time with friends and family stopping by, and taking that time to laugh and tell a story, even if you have a busy day. I think the reason we have that healthier, longer life in the islands is because of that laid-back lifestyle."

Sunshine and Fresh Air

Hawaii has pristine beaches, lush tropical greenery, and average temperatures in the 70s in Honolulu, so Hawaiians soak up plenty of sun -– and health benefits –- by spending so much of their lives outside.

"You get vitamin D from the sun when you're out, and it's easier to be physically active here -- you're not dealing with two feet of snow for a good chunk of the year," says Dr. Bradley Willcox, a longevity expert and professor in the John A. Burns School of Medicine at the University of Hawaii.

Fresh Food and Exercise

"People tend to eat better here and exercise more,” says Willcox. More than 60 percent of Hawaiians exercise – second only to Alaska. And the Hawaiian diet, which is heavy on fresh fish, legumes, vegetables and fruits, also helps protect the body against diseases. "In Hawaii, you tend to have an east-west blend of eating habits," says Willcox, who adds that the Hawaiian diet has many of the benefits of the Japanese diet, in addition to being lower in salt.

Looking on the Bright Side

The optimism that is central to the Aloha spirit has proven health benefits. Hawaiians are optimistic that their cities are getting better, according to Gallup data.

A growing body of research is linking happiness with good health and longevity. People with a positive life outlook may enjoy better sleep quality, and Harvard researchers have found that happiness may boost immune system functioning and decrease the risk of heart disease.

Exemplary Health Care

Not all states are created equal when it comes to health and happiness, and Hawaii sets a high bar for the rest of the country. Hawaii's exemplary health care system mandates that employers provide care for any employees who work more than 20 hours a week. As a result, says Willcox, “people get good health care here.”

Strong Communities

Hawaiians are particularly good at prioritizing spending time with family and friends –- activities that affect stress levels, well-being and longevity. The community spirit has a way of rubbing off on individuals, creating a uniquely Hawaiian perspective on life. “You see more stress-resistant personalities,” says Willcox. "Every weekend, everyone's out on the beach for a cookout with family members all around.”

Like people in any state, Hawaiians have to deal with the reality of work and financial obligations. But the true secret to the Hawaiian lifestyle may be something that can’t be measured in any poll or study: perspective. Hawaiians are experts at living lives that are more about personal relationships and rich experiences and “less about money,” according to Ballard: "Even though people have to work, they make more time for things that have value to them -- that's family time. Whatever island you live on, it's a joyful experience to live the Hawaiian lifestyle."

Did You Miss the Best Real Estate Buying Bonanza in Decades?

http://www.foxbusiness.com/personal-finance/2013/07/08/did-miss-best-real-estate-buying-bonanza-in-decades/

Has your best chance at getting a great deal on your dream home or investment property passed you by?

The answer is no. But you certainly did miss the bottom — the intersection of low home prices and rock-bottom mortgage rates.

But it’s still a bonanza out there for prudent buyers! Real estate is still incredibly low priced, mortgage rates are still reasonably low and great wealth still can be earned from owning quality properties for the long term.

Long-term ownership

The most likely scenario where a real estate buyer increases his or her wealth — and “increasing wealth” is the reason most people desire to own real estate — is by holding property for the long term. When you own long term, you pay down your mortgage along the way, the property’s value hopefully will increase over the years and you skip the exorbitant transaction costs that go along with buying and selling real estate over and over again. So don’t buy a home or investment property unless you are virtually positive you will own it for years. You generally have to own a property for around 7 years to start earning any equity.

And keep this in mind: If you have that long-term ownership goal, the recent uptick in property prices shouldn’t be big a deal for you, because in 10, 15 or 20 years, the values should be much higher. In fact, in 15 years you’ll hardly remember what you paid today; you’ll just be bragging about how it was the best investment you ever made.

Buy good quality real estate

Beware: You can’t just buy any property and expect it will add wealth to your financial picture. You have to buy nice properties that are affordable to you — no get-rich quick schemes.

Many properties are wealth-draining, not wealth building. It’s usually the ones that sound like incredible deals, but they end up being too good to be true. A few types of properties that usually diminish your wealth are fixer-uppers, fancy prize properties, second homes, vacation rentals, land, properties in mismanaged homeowners associations, rent-to-own deals, and properties in bad areas. Most of those are going to be wealth-destroying for a variety of reasons.

To sum it up

The bottom has passed — a perfect storm of low prices and low interest rates is gone, gone, gone — but it’s still a buying bonanza out there for savvy buyers.

If you are buying a personal residence, buy a home you can afford. If you are buying rental properties, buy properties that pay for themselves.

Interest rates and home prices are still very reasonable — as long as you have a long-term ownership perspective.

Most importantly, don’t worry about what the news says and all the negative or positive commentary on the airwaves. Buy a great property for yourself, and you will hopefully enjoy the rewards down the road.

Read more: http://www.foxbusiness.com/personal-finance/2013/07/08/did-miss-best-real-estate-buying-bonanza-in-decades/#ixzz2YgimRKcm

Rising Mortgage Rates May be Forcing Home Buyers off the Fence: NAR

http://www.mortgagenewsdaily.com/06272013_pending_home_sales.asp

June 27, 2013. The National Association of Realtors® (NAR) said today that rising interest rates may finally be forcing many hesitant buyers into the market. NAR's Pending Home Sales Index (PHSI) which is based on home purchase contracts, reached the highest in May that it has achieved since late 2006. NAR also announced it was upgrading its price forecast for 2013.

The PHSI increased 6.7 percent to 112.3 in May from April's level of 105.2 (revised down from an original estimate of 106.0.) The May number was 12.1 percent above the PHSI in May 2012 when it was 100.2 The index has been higher than in the corresponding month a year earlier for each of the last 25 months and the May number was the highest for the Index since December 2006 when it was 112.8.

The Index is a forward looking indicator based which has proven to be predictive of home sales. Transactions under contract are generally expected to close within 60 days. An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined. 

NAR's chief economist Lawrence Yun said the recent rising interest rates may be creating a fence-jumping effect. "Even with limited choices, it appears some of the rise in contract signings could be from buyers wanting to take advantage of current affordability conditions before mortgage interest rates move higher," he said.

"This implies a continuation of double-digit price increases from a year earlier, with a strong push from pent-up demand."

Yun said he expected the national median existing-home price to rise more than 10 percent to nearly $195,000 by year end.  This would be the strongest increase since 2005 when the median increased 12.4 percent.
Existing-home sales are projected to increase 8.5 to 9.0 percent, reaching about 5.07 million in 2013, the highest in seven years; it would be slightly above the 5.03 million total recorded in 2007.

The PHSI in the Northeast was unchanged at 92.3 in May but is 14.3 percent above a year ago.  In the Midwest the index jumped 10.2 percent to 115.5 in May and is 22.2 percent higher than May 2012.  Pending home sales in the South rose 2.8 percent to an index of 121.8 in May and are 12.3 percent above a year ago.  The index in the West jumped 16.0 percent in May to 109.7, but with limited inventory is only 1.1 percent above May 2012.

Housing Starts Probably Rose in May as U.S. Expansion Gets Boost

http://www.bloomberg.com/news/2013-06-18/housing-starts-probably-rose-in-may-as-u-s-expansion-gets-boost.html

Housing starts probably rose in May, extending a rebound that is helping shore up the U.S. expansion, economists said before a report today.

Builders broke ground on 950,000 houses at an annualized rate, up 11.4 percent from April’s 853,000 pace, according to the median estimate of 82 economists surveyed by Bloomberg. Another report may show the cost of living increased in May for the first time in three months.

5:24

June 17 (Bloomberg) -- Jerry Howard, chief executive officer of the National Association of Home Builders, talks about the U.S. housing and mortgage markets. He speaks with Sara Eisen and Erik Schatzker on Bloomberg Television's "Market Makers." (Source: Bloomberg)

Historically low mortgage rates, improvement in the labor market and pent-up demand are spurring optimism among builders such as Hovnanian Enterprises Inc. (HOV) The recovery in residential real estate shows how record monetary stimulus from Federal Reserve policy makers, who meet today and tomorrow, is bolstering economic growth.

“The underlying demand is improving on strength in the job market and stronger consumer confidence,” said Mark Vitner, an economist at Wells Fargo Securities LLC in Charlotte, North Carolina. “The key for the Fed is seeing a sustainable recovery. As far as housing goes, I think they’re feeling pretty good about that.”

The Commerce Department will issue its housing starts data at 8:30 a.m. in Washington. Estimates in the Bloomberg survey ranged from rates of 875,000 to 1.02 million.

The number of building permits, a proxy for future construction, fell to 975,000 last month from an almost five-year high of 1.01 million in April, according to the median estimate in the Bloomberg survey. The pace of applications exceeds projected starts and points to further gains in homebuilding.

Mortgage Rates

Improving property values and cheaper borrowing costs have encouraged some Americans to buy homes before mortgage rates head even higher. The average rate on a 30-year fixed loan jumped to a 14-month high of almost 4 percent last week from a four-month low of 3.35 percent in early May, according to Freddie Mac data.

Mortgage rates are climbing because of heightened consumer demand for loans, Neil Dutta, an economist at Renaissance Macro Research LLC in New York, said in a note to clients yesterday.

“Interest rates have risen, but they’re still at historic lows,” Robert Niblock, chief executive officer of Lowe’s Cos., the second-largest U.S. home improvement retailer, said yesterday in an interview. The Mooresville, North Carolina-based company’s sales in the second quarter have recovered from March and April when rainy, colder-than-normal weather limited demand, he said.

Builder Optimism

Builders are also gaining confidence. A measure of builder sentiment climbed in June to its highest level since March 2006, according to a report yesterday. The National Association of Home Builders/Wells Fargo’ gauge rose to 52 from 44 in May, according to the Washington-based group.

“A lot of us are expecting that we need 1.6 million to 1.9 million housing starts to keep up withpopulation growth,” Brad G. O’Connor, chief accounting officer at Red Bank, New Jersey-based builder Hovnanian Enterprises, said in a June 13 presentation. “Housing creation shows that we should still have a fair amount of pent-up demand and an ongoing recovery to the housing market, that we’re just in the beginning of that recovery.”

Homebuilder shares have outperformed the broader market. The Standard & Poor’s Supercomposite Homebuilding Index has surged 62 percent in the past 12 months, compared with a 22.1 percent gain in the S&P 500.

The improvement in housing is extending beyond builders, to companies such as Lumber Liquidators Holdings Inc. (LL), a hardwood floor retailer based in Toano, Virginia.

‘Nice Growth’

“We’ve seen some nice growth in our comp stores sales and there is no question that a more positive backdrop is in place,” Daniel E. Terrell, chief financial officer, said in a June 12 presentation. “I think we’re only beginning to see a recovery now.”

Another report today will show the consumer-price index rose 0.2 percent in May after a 0.4 percent decline a month earlier, according the median estimate in a Bloomberg survey. The Labor Department will also release figures at 8:30 a.m. in Washington.

Compared with May 2012, consumer prices may have climbed 1.4 percent after a 1.1 percent year-over-year gain in April that was the smallest since November 2010.