Market Watch

The following information was obtained from the Kauai Board of REALTOR'S Multiple Listing Service and although deemed reliable, it is not guaranteed. Information may be outdated in some instances, please contact us via email for up to the minute/current MLS information. We are not responsible for errors or omissions. Further/current information can be made available upon your request by contacting us at the locations provided at the bottom of this page. In this site not only might you see properties represented by Blue Hawaii Properties, you will also see properties represented by other members of the Kauai Board of REALTOR'S Multiple Listing Service/HIS. As members of the KBR/MLS, we can assist you with any of these properties.

TEMPORARY HALT IN FLOOD INSURANCE AVAILABILITY
The U.S. House adjourned for the year without reauthorizing the National
Flood Insurance Program, which will expire Dec. 31, 2002. The earliest the
program can be reauthorized is Jan. 7, 2003, when the 108th Congress
convenes. This lapse in authority for the insurance program will impact
REALTORS in one major way: If the purchase of a new flood insurance policy
for a property is required, coverage will not be issued until Congress
acts to extend the program in January. Without access to federal flood
insurance policies, some homebuyers may see a delay in their mortgage
approval. The Federal Emergency Management Agency has indicated that
existing policies will still be effective and new policies will be issued
if applications and premium payments are received on or before Dec. 31,
2002. NAR has brought together a coalition of interested stakeholders to
ensure that Congress reauthorizes NFIP as quickly as possible. For more
info, CONTACT: Russell Riggs, rriggs@realtors.org, 202/383-1259.

NEAR-RECORD HOME SALES PROJECTED FOR 2003
After setting records in 2001 and 2002, home sales are projected to slip
but remain historically strong next year, according to NAR. David Lereah,
NAR's chief economist, said that even with the bulk of home sales taking
place during the first half of this year, the forecast for total annual
housing activity has been trending upward. "In 2003, sales should ease off
to 5.29 million from a projected 5.52 million for 2002, but that would be
just shy of the 2001 record ? and it'll be the fifth year that
existing-home sales exceed the 5.0-million benchmark," Lereah said. For
more info, Go To:
http://www.realtor.org/publicaffairsweb.nsf/Pages/DecemberOutlook03

AUDIO, WEB CONFERENCING COMPANY PARTNERS WITH NAR
Conference Plus Inc., a provider of audio, video, and Web conferencing, is
the latest REALTOR VIP(R) Alliance Program partner. Discounts on
Conference Plus Inc. services, which also include broadcast fax,
fax-on-demand, digital tape playback, live Web Q&A, conference recording,
and transcription, are available to all NAR members and national, state,
and local association staff. For more info, Go To:
http://www.cpiconf.com/nar or call 800/549-8227.

SURVEY ESTABLISHES BENCHMARK ON SECOND-HOME MARKET
Most second homes are purchased primarily for recreational use, while a
minority of buyers are motivated strictly by investment considerations,
according to a new NAR survey, which is one of the largest, most complete
surveys of second-home owners ever conducted. The survey also indicates
that the potential of the vacation-home sector appears to be much larger
than most analysts believed. The typical second-home owner is 61 years
old, has owned the property for nine years, earns a household income of
$76,900, is married, and bought the property for recreational use. For an
executive summary, Go To:
http://www.realtor.org/PublicAffairsWeb.nsf/Pages/2ndHomeSurvey02. To
purchase the entire survey for the member price of $50, call NAR's
Information Central at 800-874-6500, order item No. 186-55-02.

Report compiled by Carolyn Schwaar, cschwaar@realtors.org, 312/329-8874