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January, 2008 - Newsletter for the Maui Market
Happy New Year! Here is your eNewsletter for the Maui Market from Jim Foster
You are receiving this email because you subscribed to our e-newsletter email list. If you change your mind and wish to unsubscribe, please send an email to Won@JamesBFoster.com and request to be removed with the subject line, “Unsubscribe from Newsletter.”
Make sure you check out the Useful Internet Sites at the end of this newsletter which includes some valuable information.
Don't forget! We provide a free Automatic E-mail Notification Service that goes out to recipients whenever a new listing becomes available for a particular condominium complex. Each of these notifications includes a link to view the details of the brand new listing in the MLS. We DO NOT SHARE YOUR EMAIL ADDRESS or your contact information with anyone. To subscribe to our Automatic E-mail Notification Service, please send Won an email at Won@JamesBFoster.com with your first and last name, your email address, and the condominium property you wish to be notified of.
Another service we provide is the Condominium Real Estate Market eUpdates which is sent out periodically to inform potential buyers and owners of specific condominium properties about the real estate market activities at those properties. This service is provided exclusively for those who own a condominium property or who are interested in a particular condominium complex on West Maui. If you would like to subscribe to the Condominium Real Estate Market eUpdates for a particular complex or to get a list of all condominium properties that are included in the eUpdates, email Won at Won@JamesBFoster.com.
Maui Real Estate - The year 2007 Maui sales results, as provided by the Realtors Association of Maui (RAM), showed a rebound vs. 2006 in single family home sales with condominiums and land showing continued declines in closed transactions. Maui single family home sales through totaled 1,138 transactions, and were up 5% vs.2006, with Average and Median sale prices declining by 1% and 9% respectively. The bulk of this sales increase occurred in the Central Maui areas with the Kihei, Upcountry and Lahaina areas showing declines in transactions. The median sales price of single family homes, now approximately $630,000, took a 9% hit caused by the release of many homes in Central Maui deemed affordable. The inventory levels are high by Maui standards but everything is still selling.
2007 Maui condominium sales showed 1,179 closings, down -5% vs. same period last year. Average and Median sale prices Island-wide were up 4% and up 6% respectively vs. 2006 with the decline in closings being particularly apparent Napili, Honokowai, Kahana, Kaanapali and Central Maui areas. The Kihei, Wailea and Makena condominium 2007 closed transactions were well ahead of 2006 actuals. 2007 Maui land sales totaled 226 transactions and closings, down 11% vs. 2006, with Average and Median sale prices both declining by 20% and 18% respectively. A strong increase in Central Maui land sales was more than offset by land sales declines throughout the rest of the County.
The statistics provided by RAM is convincing data that Maui is more durable and sustaining than the US market as a whole. Asian interest appears to be increasing also with more interest from Japan, Korea and even China. Tourism data collected by the State of Hawaii also supports this view.
To view the 2007 Year End Statistics go to www.JamesBFoster.com and click on the tab Condo sales, then scroll down to Maui MLS Statistics 2007
The West Maui real estate market continues to favor Buyers with Sellers willing to negotiate their prices. The current inventory of West Maui condominiums for sale is now at 511. Properties are requiring more time to sell such as five to six months and Buyers have a much larger inventory of properties for sale to choose from. If you’re curious about current trends in Maui real estate and where the market is headed, the answer is - it depends on Location - it depends on if it is condominium or single-family residential - it depends on whether you look at volume, average or median prices. The current Maui real estate market looks steady with minor variations.
Condominiums for Sale - In the West Maui real estate market, at the beginning of January, 2006 - 226 condominiums with the total value of $226,520,200.00; February, 2006 - 280 condominiums with the total value of $281,793,835.00; March, 2006 - 297 condominiums with the total value of $286,082,559.00; April, 2006 - 350 condominiums with the total value of $317,599,199.00; May, 2006 - 354 condominiums with the total value of $321,932,077.00; June, 2006 - 362 condominiums with the total value of $333,616,070.00; July, 2006 - 392 condominiums with the total value of $346,937,598.00; August, 2006 - 393 condominiums with the total value of $344,119,142.00; September, 2006 - 413 condominiums with the total value of $369,322,455.00; October, 2006 - 408 condominiums with the total value of $366,608,574.00; November, 2006 - 407 condominiums with the total value of $357,086,324,00; December, 2006 - 428 condominiums with the total value of $361,399,109.00; January, 2007 - 410 condominiums with the total value of $372,238,031.00; February, 2007 - 431 condominiums with the total value of $393,681,669.00; March, 2007 - 458 condominiums with the total value of $420,941,268.00; April, 2007 - 479 condominiums with the total value of $429,708,159.00; May, 2007 - 472 condominiums with the total value of $424,095,260.00; June, 2007 - 455 condominiums with the total value of $415,187,129.00; July, 2007 - 475 condominiums with the total value of $432,797,008.00; August, 2007 - 469 condominiums with the total value of $420,479,301.00; September, 2007 - 474 condominiums with the total value of $430,914,408.00; October, 2007 there were 471 condominiums with the total value of $423,631,002.00; November, 2007 there were 466 Condominiums with the total value of $416,008,907.00; December, 2007 there were 485 condominiums with the total value of $421,080,117.00; and at the beginning of January, 2008 there are 511 condominiums for sale in the West Maui area with the total value of $445,656,447.00. The condominium for sale inventory since July, 2005 has been as low as 165 and is up to 511 for January 1, 2008. The “for sale” inventory on West Maui continues to increase.
Condominium Sales in 2006 - The total condominium sales for West Maui during the month of January, 2006 there were 42 sales and the total value was $28,574,643.00; for February, 2006 there were 48 sales and the total value was $32,995,078.00; for March, 2006 there were 40 sales and the total value was $32,199,584.00; for April, 2006 there were 43 sales and the total value was $41,898,525.00; for May, 2006 there were 51 sales and the total value was $39,644,886.00; for June, 2006 there were 40 sales and the total value was $32,533,500.00; for July, 2006 there were 30 sales and total value was $26,212,000.00; for August, 2006 there were 28 sales and the total value was $31,885,500.00; for September, 2006 there were 30 sales and the total value was $24,770,000.00; for October, 2006 there were 29 sales and the total value was $23,359,299.00; for November, 2006 there were 22 sales and the total value was $13,414,600.00; for December, 2006 there were 30 sales and the total value was $23,169,999.00. For 2006, the monthly average sales were 36 sales per month with the average sales value of $29,221,468.00 per month.
Condominium Sales in 2007 - The total condominium sales for West Maui during the month of January, 2007 there were 37 sales and the total value was $33,091,000.00; for February, 2007 there were 26 sales and the total value was $16,330,000.00; for March, 2007 there were 32 sales and the total value was $24,121,000.00; for April, 2007 there were 27 sales and the total value was $16,766,000.00; for May, 2007 there were 28 sales and the total value was $30,774,929.00; for June, 2007 there were 28 sales and the total value was $18,917,000.00; for July, 2007 there were 21 sales and the total value was $13,314,200.00; for August, 2007 there were 32 sales and the total value was $33,258,999.00; for September, 2007 there were 23 sales and the total value was $24,701,900.00; for October, 2007 there were 42 sales and the total value was $28,159,900.00, however this included a packaged sale of 19 units at Aina Nalu in Lahaina; for November, 2007 there were 15 sales and the total value was $15,930,000.00; and for the month of December, 2007 as of 1/1/08 in the MLS data, there were 13 sales and the total value was $13,335,500.00. So far, the Month of November has seen the lowest number of sales in 2007. The monthly average sales were 27 sales per month with the average sales value of $22,391,702.33 per month.
The total condominium sales for August, 2005 was 52; September, 2005 - 58; October, 2005 - 38; November, 2005 - 48; December, 2005 - 47; January, 2006 - 42; February, 2006 - 48; March, 2006 - 40; April, 2006 - 43; May, 2006 - 51; June, 2006 - 40; July, 2006 - 30; August, 2006 - 28; September, 2006 - 30; October, 2006 - 29; November, 2006 - 20; December, 2006 - 30; January, 2007 - 37; February, 2007 - 26; March, 2007 - 32; April, 2007 - 27; May, 2007 - 28; June, 2007 - 28; July, 2007 - 21; August, 2007 - 32; September, 2007 - 23; October, 2007 - 42; November, 2007 – 15; and December, 2007 was 13.
For previous condo sale details, go to our web site, www.JamesBFoster.com/CondoSales.php. For the time period of 1/1/2007 to 11/30/2007 the average price for a home on Maui was $921,746 which is down 4% for the time period of 1/1/06 to 11/30/06 when the average price was $963,495. For the same time period the average price for a Fee Simple condo on Maui was $818,950 which is up 2% for the same time period when the average price was $806.160 according to the RAM (Realtor Assoc. of Maui) statistics. Condo sales in Wailea, Makena, Kapalua and Kaanapali are having an impact on the Fee Simple Condo average price by increasing it.
We have gone in to the MLS database and pulled information for 2000 through 2007. In 2000 - 654 condominium units sold in the West Maui area for a total value of $209,064,010; in 2001 - 605 condominium units sold for a total value of $271,681,337; in 2002 - 730 condominiums sold for a total value of $240,178,915; in 2003 - 737 condominiums sold for a total value of $319,748,466; In 2004 - 700 condominiums sold for a total value of $375,033,467; in 2005 - 682 condominiums for a total value of $408,582,315; in 2006 - 435 condominiums for a total value of $351,782,614. In 2007, from 1/1/07 to 12/31/07 - 327 condominium units sold in the West Maui area for a total value of $271,290,428.00
Mortgage Rates for week of December 17, 2007 - from Town Island Mortgage, LLC -
Rates: Houses & Condos Full docs: 5.75% 30yr fixed 2.0 pts (5.98 APR) 6.00% 30yr fixed 1.0 pt (6.13 APR) 6.25% 30yr fixed No Points (6.34 APR) No Docs: 6.125% 30yr fixed 1.0 pt (6.25 APR) 5.75% 15yr fixed 1.0 pt (5.96 APR) Interest Only: 6.375% 7/1 ARM 1.0 pt (6.50 APR) To $1M: 6.375% 30yr fixed No Points (6.47 APR) $$ for condotels. (Points include origination fee) These rates were as of 12/17/07 and not as of 1/1/08.
If you would like to view the most current sales statistics for Maui or West Maui Condominiums, you can go to my web site www.JamesBFoster.com and click on Condo Sales in the upper left corner of the home page or go to www.JamesBFoster.com/condosales.php.
Some recent and past news about what is going on in Maui.
Weather – As I am writing this newsletter today, January 5, 2008, it is partly cloudy but nice sunshine here in Lahaina and around 78 degrees, tomorrow it is suppose to be sunny and 79 degrees. After the weather during the first three weeks of December, no one is complaining and when you watch the nation’s weather report, well this is not bad at all!
Kona storms Big New in Maui County – The first one in late January and the other in early December – causing massive power outages, park and school closures, and substantial damage. Many longtime residents said the storm experienced between December 3rd and the 7th was the strongest and most damaging one they had ever seen on Maui. One home in the Waiohuli Hawaiian Homesteads neighborhood was washed off its foundation; and the Hawaii Superferry had to cancel its December 6th plans to re-launch service because of the storm. It took longer than a week for officials to restore water, electricity and telephone service to the areas hardest hit by the storm, upper Kula, Kihei and Wailea, and parts of Lahaina and Honokohau. Evidence of high winds could be seen along the West Maui coast where three boats were driven off their moorings and run aground. At least two cruise ships had to cancel plans to ferry passengers to Lahaina Harbor because of the high winds.
Superferry in Hawaii – Service was to return to Maui today but was disrupted on several occasions due to rough seas and people were stranded on Maui or other locations and unable to return to Oahu or their original destinations. Oahu won out last year over the resistance of many Maui residents who opposed the controversial Hawaii Superferry service. Despite setbacks including rough weather that has canceled at least four voyages, the 350-foot Alakai is operating a daily trip from Honolulu to Kahului and back. Mauians were opposed to the potential of more cars to Maui as well as people, invasive species, drugs and the possibility of injuring or killing endangered humpback whales. 2nd Circuit Court Judge Joseph Cardoza ruled in favor of the plaintiffs in a law suit and issued a temporary restraining order, with the Judge insisting that an environmental impact statement was required by Hawaii state law before the Superferry could operate. In October, Governor Lingle called a special session to override the rulings and allow the Superferry to continue while the environmental review was done.
Nearly all of the votes in favor of the ferry came from Oahu state lawmakers, who have most of the seats in both the Hawaii Senate and House. Then in early November, Lingle signed into law the bill that overrode Cardoza as well as the state Supreme Court.
Maui Tomorrow leaders have pledged an appeal, and its members are now raising funds to cover the legal costs.
Mercedes-Benz Championship – Dates for the Championship play is December 31, 2007, through January 6, 2008 at the Kapalua Resort. On January 4th Nick Watney held a one-shot advantage over Daniel Chopra, both Kapalua first-timers. On January 5th Ontario, Canada native Mike Weir took the 36-hole lead with Georgia resident Jonathan Byrd just one shot back.
Hawaii Warriors football team at University of Hawaii – This year with Colt Brennan as their quarterback the Hawaii Warriors were 12 – 0 with their last two games with Boise State and the University of Washington being won in the last part of the fourth quarter. They then went to the Sugar Bowl and played Georgia. A large percentage of the Hawaii population was glued to their TV for the game but Hawaii was defeated by Georgia 41 - Hawaii 10. Now the U of H coach, June Jones, is reportedly being considered as the new coach for SMU in Texas. If June Jones were to leave it would be a great disappointment for the University of Hawaii football fans but at this point it does not look encouraging for his continuing as coach of the U of H team.
The Pali Man – If you have been coming to Maui for vacations for a long time you may have noticed a man walking along the Honoapiilani Highway, often wearing only shorts, no shirt, a beard and who appeared to be sad or disconnected. In our local newspapers a story appeared entitled “A Christmas Miracle – It happened on the Pali, Part II”, that really lifts your spirit. It is a story about a man who came to Maui with a round trip ticket and cash to vacation, then was beaten and experienced a memory loss. He was homeless and walked the Honoapiilani Highway for thirteen years, spending most of those years without human companionship or interaction. During that period of time he did not know his own name and was devoid of hope. During the latter part of 2007 through the kindness of some special people he received help and was then reunited with his family in Oregon. This is a great feel good story and you can find it on the web site www.LahainaNews.com or email me and I will send you a copy.
Maui Pine Cannery – Nine Million dollars was reported as a loss in March, 2007 for Maui Pine Cannery. At the end of August, Maui Pine auctioned off most of its canning equipment generating about $3 million, with a third of that coming from unused tinplate.
Pineapple canning was born in the islands, and by the 1940s, more than four out of every five cans of pineapple in the world came from Hawaii. Sugar cane covered more acres, but for Mainlanders, pineapple and not sugar, was the food they associated with Hawaii. An end of an era but the profitable fresh fruit sales will continue, and possibly expand but time will tell.
Wildfires on Maui – There were several wildfires that created numerous problems around Maui County in 2007. Some of the larger fires were around Olowalu and Launiupoko, along with several in Polipoli. The fires scorched thousands of acres, destroyed and damaged property as well as disrupted lives. Early in the year a wildfire spread across 2,300 acres of the Kula Forest Reserve, burning for nearly a week after a careless smoker threw away a lit cigarette. This made the reserve unsafe and shut down the reserve and camping area and trails for several months. The Olowalu and Launiupoko fire broke out on June 27, 2007 and June 28, 2007. On July 3, 2007 a youngster playing with fireworks caused a brush fire near the Lahaina Aquatic Center that burned 180 acres. Around July 4, 2007 several fires started in West Maui creating more disruptions.
Vacation Rentals - Hundreds of unpermitted transient vacation rental businesses may have to close their doors. After ten years of unclear regulations, a new mayor and a new County Council decided against passing a comprehensive ordinance to allow the popular businesses to get legal in the areas where they are most popular – in rural and agricultural zones in early in 2007. In February, the council tossed a bill it had been reviewing for years that would have made it easier for some (not all) operators to get legal. There was then only an expensive conditional permit process open to would-be legitimate businesses. Mayor Charmaine Tavares set a deadline to be legal or be gone, expected to doom about 99 percent of existing operations. The estimate is that there are about 800 unpermitted operators and only about half a dozen of these had permits. Since the council has to review each conditional permit individually, there was no way any operation not already well along the path could have gotten a permit by the end of 2007. A few operators formed the Maui Vacation Rental Association and sued to prevent the Planning Department from enforcing the January 1 deadline. The administration has submitted a new version of a transient vacation rental bill, which has recently passed. The council may or may not act on it in 2008. So, the transient vacation rental business is still undecided and up in the air.
Barnes & Noble - The world’s largest bookseller opened their new store in Lahaina Gateway in time for the Christmas shoppers. The store will stock close to 200,000 book, music, DVD and magazine titles and include a cafe serving Starbucks coffee. It will be open from 9 a.m. to 11 p.m. every day and employ 60 people from the community.
Lahainaluna High School Stadium – Plans are moving forward to bring a state-of-the-art athletic stadium to Lahainaluna High School. A preliminary set of plans were provided to the committee for review. The committee discussed water drainage concerns, parking, delineation of building uses, accessibility, security, seating capacity and the number of lanes for the proposed all-weather track. The question with the track concerns the need to increase planned space to accommodate the eight-lane, 400-meter oval required for meets. The space in the preliminary plans would allow for only six lanes, but that proposal was quickly nullified by the committee. The architects are expected to make the recommended changes in the plans and prepare them for presentation to contractors for cost review estimates. Now a focused fund-raising effort needs to begin. The rough estimated cost for the project is around $16 million. The committee plans to send members to Oregon in the spring to meet with the Nike Corporation. For more information, contact www.lahainalunahighschoolfoundation.com, or call Tillman at (808) 667-0770.
Ritz Carlton Scheduled to Reopen - The Ritz-Carlton, Kapalua opened its doors for the PGA Mercedes-Benz Championship but plans to open for the general public January 7, 2008. This was a $160 million makeover. The renovation that started in July with a an update of the 15-year-old resort’s 445 guest rooms, lobby, fitness center, restaurants and public areas. A temporary spa will be in use until the remodeled spa reopens in May. One wing of rooms was converted in to 107 “residential suites”. Guests will now have the option of buying a one- or two-bedroom suite – with full access to hotel services at a price tag ranging from $895,000 to $6 million. Nightly rates for the hotel’s newly retooled guest rooms will range from $599 to $8,000, a full $200 increase over old
rates. That’s substantially above the average rate of $210 for a room on Maui, and $186 statewide.
Dante’s Italian Eatery - Enjoy traditional Italian cuisine at the Food Court in the Cannery Mall with the newest restaurant, Dante’s Italian Eatery. The Chef and owner Mauro Gramuglia was born and raised in Milan, Italy and his family owned a restaurant in the quaint Milan countryside. Mauro said the idea is to have five-star restaurant food without the tag of a five-star restaurant. They have brick oven pizzas, homemade lasagna, spinach lasagna, traditional sandwiches (paninis) and Daily Specials featuring fresh fish and meat and all prices are under $16. The food is prepared with all natural, fresh ingredients using Maui grown produce. I have ordered take out and it is excellent with wonderful seasonings!!! The phone number is 661-3838.
Medical Facilities on Maui - The Association for Improved Healthcare on Maui (AIHM) http://www.aihm-maui.org whose mission is to serve as an advocate for the creation of a system that will provide improved healthcare services to all of the citizens and visitors of Maui County has been making some excellent progress. For more information on making a contribution to this great cause, please visit www.aihm-maui.org/ourfriends.htm. To stay informed of what is transpiring with future approvals of either the Kihei or West Maui hospital, you can send me an email and request a subscription to the “Coconut Wireless” to either my email at Jim@JameBFoster.com or Jan@SunshineRainbows.com AIHM supporters will be attending the opening day of the legislature in Honolulu on January 16, 2008 to investigate the elimination of the Certificate of Need process required now for medical facilities in Hawaii.
Medical Task force backs West Maui hospital plan - The Maui Health Care Initiative Task Force endorsed a hospital for West Maui in a draft report issued last month. The next step is to try and get through the Certificate of Need Process which was turned down previously when the Malulani Certificate of Need hearings were being held. The CON process for Malulani consisted of three panel hearings, one on Maui and two in Honolulu. At the hearing on Maui the CON was approved and was turned down at both panel hearings in Honolulu.
Real Estate & Financial Planning Tips
If you are contemplating selling real estate and anticipate having a tax liability (Hawaii HARPTA and Federal Capital Gains Tax) on sale you basically have four choices: 1) Do not sell the property; 2) Sell subject to an IRC Section 1031 Tax Deferred Exchange; 3) Use a Deferred Sales Trust (DST); 4) Pay the Tax. If you would like information on the Tax Deferred Exchange or the Deferred Sales Trust send me an email or call to have the details sent to you. We can work with you, your accountant and attorney to determine what your approximate tax liability is and structure the transaction to minimize your tax liability.
Need to get clear Social Security Information and Answers? Here is a way to get individualized advice on Social Security options or help with strategies or questions. Generally the SSA is so slammed with inquiries; no one can get in to get this type of information, especially more than just general information. A client which recently purchased a condominium and moved to Maui after retiring from the SSA and now provides consulting. He charges $30 per hour for consulting. (1/4 hour = $7.50 which is the minimum). His name is Steve Potter and his email is blueskysteve@earthlink.net
After he responds to your questions he will let you know how long it took and will give you his PO Box to send a check. Steve was with the Social Security for 29 years. He spent 4 years as a Claims Representative in Illinois, taking claims for benefits. The next 10 years he was a supervisor, and then spent the next 15years as the Public Affairs Specialist for the Denver metro area. In that job he did over 1800 presentations and training in all aspects of Social Security, Supplemental Security Income (SSI) and Medicare.
Whether you are young, middle age, or approaching the later years you need to focus on your financial and estate planning. Don’t put it off; decide to do something about it now! Get organized and on an annually value your assets, update your wills and try and anticipate what the New Year will bring and be proactive.
We receive calls on a regular basis and provide letters of Market Value at the time of death to assist in the Probate process for owners of Hawaii real estate. It is always unfortunate when estate planning has not been done and the tax liability has to be dealt with in a short period of time.
Take the time to review with your accountant, financial planner and attorney in the matters of current financial plans and also estate plans. If you do not have trusted advisors in these areas ask friends and business associates for recommendations because in the long run it may be the best investment you will make.
In past newsletters, I have mentioned that the easiest way to minimize the tax impact when selling is to do a tax deferred exchange. If you have questions about tax deferred exchanges give us a call. If you are considering selling your property in Hawaii, a tax deferred exchange will exempt you from the 5% HARPTA withholding and also the Federal Capital Gains Tax. Planning in advance for the disposition or acquisition of assets is always a wise decision. Another invaluable tool for sellers in doing a tax deferred exchange is having the option of using tenant-in-common (TICs) for qualifying for replacement properties. Many property owners who currently own underperforming assets can sell those assets, taking advantage of tax deferred exchanges, and turn an underperforming asset such as land into an income producing asset. Call me or send me an email if you would like additional information at 808-661-7994 or email Jim@JamesBFoster.com
To facilitate the tax deferred exchange process for our clients, we have placed our securities license with Welton Street Investments, LLC. Welton Street is the leading FINRA/SIPC Member Broker/Dealer formed exclusively to work with commercial real estate professionals offering TIC (Tenant In Common) investments as 1031 exchange options and direct investments. Welton Street works with quality TIC real estate sponsors, providing access to a broad and deep array of institutional quality TIC investment properties providing due diligence, research & securities compliance. Welton Street utilizes three key areas of due diligence before real estate sponsors and TIC investment replacement properties are selected and presented for investor consideration: 1) Audit and Analysis of the Real Estate Sponsor; 2) Analysis of TIC Program Structure & Fees; and 3) Analysis & Underwriting of Replacement Properties.
If you are contemplating selling highly appreciated real estate during 2007 and would like for us to provide an analysis of how to best structure your transaction, please call us at 1-888-661-7994 or send us and email at Jim@JamesBFoster.com
Useful Internet Sites:
www.nophonetrees.com A solution to “Telephone Hell.” Just visit this great place and do a quick search for the company you'd like to call. Enter your phone # (they say they will never disclose your number to anyone -- not even your mother!). As soon as they get a human on the line your phone will ring with a living breathing person standing by.
www.ie7pro.com Here is an add-on for Internet Explorer users that adds lots of extras to make your browser easier, more useful, secure and customizable. It adds features such as tab enhancement, super drag-drop, crash recovery, mouse gestures, tab history, spell check, auto form fill, web page capturer, ad blocker and it is free.
www.costvsvalue.com Contemplating some upgrades or remodeling? Want to know what will provide the best return on your investment? Each year Remodeling Magazine releases its “Cost vs. Value Report” where you can select your region and view various remodeling projects ranging from a deck addition to bathroom remodeling. The report provides you with an estimate of the job cost along with the added value on resale and continues by calculating the percentage of the cost recouped.
www.lps.k12.co.us/schools/arapahoe/fisch/didyouknow/didyouknow.wmv The changes in our world continue to accelerate. A week’s worth of the New York Times contains more information than a person was likely to come across in a lifetime in the 18th century. By 2013 a super computer will be built that exceeds the computational capability of the human brain. By 2023 a $1000 computer will exceed the capabilities of the human brain. If you would like to view some of these changes in a mind boggling 8 minute show use this link. Take the time to download because this is fascinating and tremendous food for thought.
Kindest Regards, Jim Foster
Chase 'N Rainbows Real Estate, Inc.
P.O. Box 10398
Lahaina, HI 96761
Toll Free 888-661-7994
Direct Line 808-661-7994
Cell 808-870-5858
Fax 808-667-2957
Real Estate for Sale www.JamesBFoster.com
Vacation Rental www.ChaseNRainbows.com
Email Jim@JamesBFoster.com
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