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Honua Kai Resort & Spa Sells $56 Million in 75 Homes

Posted on January 27, 2012 by

MAUI, Hawaii–(BUSINESS WIRE)–Honua Kai Resort & Spa, the only new, whole ownership opportunity on Kaanapali Beach in more than 25 years, has closed more than $54 million in real estate sales with 75 new home transactions in 2011. The property, located on 38 acres of West Maui shoreline, has quickly become a popular destination for both leisure travelers and potential homeowners alike.

“We are very pleased with the number of real estate sales at Honua Kai this past year”
Since opening in 2009, Honua Kai Resort & Spa has sold and closed more than 410 units resulting in more than $518 million in real estate sales. Playground Destination Properties Inc., Real Estate Broker for Honua Kai Resort & Spa has noted recent purchasing trends from residents hailing from the Canadian provinces of British Columbia and Alberta, in addition to the western United States cities of Seattle, San Francisco, Los Angeles and San Diego.

“We are very pleased with the number of real estate sales at Honua Kai this past year,” said Susan Jackson, director of sales for Playground Destination Properties Inc. (Playground). “Those who decide to purchase a luxury condo at Honua Kai recognize the exceptional value they are receiving, incredible amenities and outstanding location on the Kaanapali Beach front.”

Building on Honua Kai’s recent sales success, the property recently engaged Beth Ann Shepherd of DRESSED, Inc., to furnish six of the luxury three-bedroom residences in three stylish themes: Ocean, Beach and Tropical. Two residences are decorated with each of the three themes and one of each will be used for a real estate showroom and the other for vacation rentals. The three custom-designed residences are prominently located and feature spectacular ocean views of the islands of Molokai and Lanai.

The Ocean theme offers the most contemporary, luxurious design of the Honua Kai suites. The colors of the deepest ocean – teal and sea green – were combined with lighter updated Honua Kai custom wood finishes to highlight the size and luxury of the residence. The Beach theme uses the neutral colors of the sand and the lightest blue of the sky, as well as a custom designed layout, to maximize the use of the Honua Kai suites. The third designer option, the Tropical theme, features more traditional wicker, raffia and vintage Hawaii decor, as well as warm-tone wood finishes to enhance the vibrancy of the orange and green palette traditionally found in the tropics.

The property’s studio, one-, two-, and three-bedroom suites provide all of the comforts one would expect from a four-star resort; perfect for entertaining, reconnecting with family and friends or relaxing in privacy. Resort homes range from 580-square-foot studios to 2,230-square-foot three bedroom residences and feature open floor plans, beautiful ocean and/or mountain views, premium interior appointments and custom Nana Wall doors that open fully to an outdoor lanai. The 2,650-square-feet Specialty Suites are the largest on property and boast 3,200-square-feet lanais.

The family friendly atmosphere at Honua Kai Resort & Spa is setting a new standard for luxury resort living in Maui, and is also becoming one of the best vacation destinations in the world for leisure guests with its outstanding amenities and quick and easy access to all that Maui has to offer. In addition, Maui was recently named “Best Island in the World” by Condé Nast Traveller for an unprecedented seventeenth time.

Expedia, the world’s largest online travel company, recently named the resort number 39 on its global 2011 Insider’s Select List. The list is comprised by industry experts who examine properties that consistently deliver quality, value and a great guest experience. The full list represents 500 of Expedia’s top-ranked hotels selected from more than 130,000 properties offered by Expedia. Honua Kai is also ranked number one of the 30 hotels in Lahaina on TripAdvisor, the world’s largest travel review website.

For real estate information, visit www.honuakai.com or call Playground Destination Properties Inc., Real Estate Broker at 866-967-2228.

About Honua Kai Resort & Spa

Honua Kai Resort & Spa offers a uniquely contemporary Maui experience. Located on Kaanapali’s pristine North Beach, the resort is designed as two U-shaped buildings with ocean and mountain views, lush landscaping and expansive open spaces. This openness is mirrored in each of the 628 guest suites (studio, one-, two-, and three-bedroom) with professionally equipped kitchens, spacious and homelike floor plans, and luxury resort services. An imaginative aqua network of pools, hot tubs, natural pond bridges, waterslide, waterfalls and fountains allows for privacy and play. The Hokulani building houses 318 guest suites, `Aina Gourmet Market, pool, fitness center, concierge desk and Family Fun Club. The Konea building has 310 guest suites and two pools. Duke’s Beach House is located oceanfront, and the pool & beach activities operate poolside.

About Playground Destination Properties Inc.

Playground Destination Properties Inc. is the licensed real estate broker for Honua Kai Resort & Spa. Playground Destination Properties Inc. is part of the Playground group of companies. This group of companies (“Playground”) is a premier provider of real estate sales and marketing services for destinations world-wide. Playground is dedicated to fulfilling a mission of “connecting people with the ultimate places to play.” Playground represents a unique breadth of properties from beach and mountain destinations, to golf and urban locations. In addition to Honua Kai Resort & Spa, Playground is currently offering ownership opportunities in a number of world-renowned locations including: Mont Tremblant Ski Resort, Stratton Mountain, Winter Park Resort and Four Seasons Residence Club Vail. To learn more about Playground, visit www.playground.com.

© 2012 Playground Destination Properties Inc., Real Estate Broker. The information contained herein shall not be construed as an offer in jurisdictions where the seller is not in compliance with applicable law. VOID WHERE PROHIBITED BY LAW. The information provided herein is solely for informational purposes, and is subject to change without notice. No representation, warranty or guarantee is made with respect to views. Refer to the governing documents and sales materials for the full details of the offering. Obtain the Property Report, or its equivalent under applicable State or Provincial law, and read it before signing anything. WARNING: THE CALIFORNIA DEPARTMENT OF REAL ESTATE HAS NOT INSPECTED, EXAMINED, OR QUALIFIED THIS OFFERING. The listing broker is Playground Destination Properties Inc., 130 Kai Malina Parkway, Lahaina, HI, license number RB’17829.

Contacts

Media Contacts:
Richmond Public Relations
Lori Meyers / Sarah Ducharme, 206-682-6979
lorim@richmondpr.com / sarahd@richmondpr.com
or
Travel Media Contact:
Biegel Communications
Yvonne Biegel, 808-276-6452
yvonnebiegel@hawaii.rr.com

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National Association of Home Builders Commends Obama

Posted on January 27, 2012 by

WASHINGTON–(BUSINESS WIRE)–The National Association of Home Builders (NAHB) commends President Obama for offering proposals in last night’s State of the Union address to help families stay in their homes and stanch foreclosures, and is urging policymakers to take additional actions to mend the housing market and boost the economy.

“We look forward to working with the White House and Congress to tackle this issue and continue to make progress on foreclosures that are hampering the housing market.”
“President Obama’s refinancing plan offers an opportunity for continued exploration of ways to aid struggling home owners and tackle the foreclosure crisis,” said NAHB Chairman Bob Nielsen, a home builder from Reno, Nev. “We look forward to working with the White House and Congress to tackle this issue and continue to make progress on foreclosures that are hampering the housing market.”

In order to create jobs and further stabilize housing and the economy, Nielsen added that the Administration, Congress and federal regulators need to reopen the lines of credit for builders ready to embark upon viable projects in markets where new housing stock is needed and to ease overly restrictive mortgage lending requirements for qualified home buyers.

The NAHB/First American Improving Markets Index shows that scores of metro areas across the nation are beginning to see signs of recovery, but in order to meet this emerging housing demand, builders need access to credit to break ground on sound projects and generate new jobs and sorely needed tax revenues in these communities.

“President Obama was absolutely right when he said that ‘there has never been a better time to build,’ and the nation’s home builders are eager to do their part to contribute to economic growth and job creation,” said Nielsen, who noted that housing normally accounts for more than 17 percent of the nation’s gross domestic product.

Building 100 single-family homes creates more than 300 full-time jobs and $8.9 million in federal, state and local tax revenues that help fund local schools, police and firefighters in markets across the land.

Sixty percent of voters say that resolving the foreclosure mess is essential to get the economy back on track and there is broad support for government policies that encourage homeownership, according to a new nationwide survey on housing commissioned by NAHB from the Republican and Democratic polling firms of Public Opinion Strategies and Lake Research Partners.

More than seven in 10 voters representing all political parties believe that tax incentives to promote homeownership are reasonable and appropriate and nearly six in 10 voters say the federal government should make it a high priority to restore the nation’s housing market.

Even more telling, the majority of voters believe neither party is doing a good job on housing.

“In this election year, voters will be looking closely at President Obama, the GOP presidential contenders and congressional candidates from both political parties to determine how they plan to put housing and the economy back on track,” said Nielsen. “How the candidates respond will decide not only their political fate but the economic prospects of most Americans.”

ABOUT NAHB: The National Association of Home Builders is a Washington-based trade association representing more than 160,000 members involved in home building, remodeling, multifamily construction, property management, subcontracting, design, housing finance, building product manufacturing and other aspects of residential and light commercial construction. NAHB is affiliated with 800 state and local home builders associations around the country. NAHB’s builder members will construct about 80 percent of the new housing units projected for this year.

Contacts

National Association of Home Builders (NAHB)
Liz Thompson, 202-266-8495
ethompson@nahb.org
www.nahb.org

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Integra Group Real Estate Sold 400 Distressed Homes in 2011

Posted on January 24, 2012 by

TUCSON, Ariz.–(BUSINESS WIRE)–Integra Group Real Estate LLC, a brokerage firm specializing in the marketing and sale of REO, HUD and distressed properties in Southern Arizona, reported the company sold nearly 400 distressed homes in 2011, a four fold increase from the year before.

“Integra Group’s success in getting the maximum value for quality homes, working with under-served market segments and supporting local neighborhood stabilization efforts has laid the groundwork for a successful year in 2012”
In 2011, Integra Group increased sales volume by 278 percent as the housing market experienced a surge of REO properties created by the increase in foreclosures. The company also increased its staff by 60 percent to accommodate this growth and better serve clients. Integra Group is now currently staffed with 14 full time buyers’ agents in order to more thoroughly and quickly assist homebuyers. The additional personnel enables the company to enhance its proprietary Integra Process, which increases asset values and decreases the time a property is on the market, demonstrating their dedication and commitment to excellence and homeownership.

“Integra Group’s success in getting the maximum value for quality homes, working with under-served market segments and supporting local neighborhood stabilization efforts has laid the groundwork for a successful year in 2012,” said Eric Lichtenheld, president of Integra Group. “We strive to provide servicers support ensuring properties are thoroughly inspected and can sell as FHA financeable homes to improve homeownership possibilities to those in need.”

Additionally in 2011, Lichtenheld was recognized as a Certified Commercial Investment Member (CCIM) Candidate Member to provide clients with specialized expertise in the commercial and investment real estate industry. Ofelia Lichtenheld, founder and designated broker of Integra Group, also received her certification as a National Association of Hispanic Real Estate Professionals (NAHREP) instructor to further educate local real estate professionals in improving the homebuyer’s experience and better serve clients. She was also elected as a board member of the Arizona NAHREP chapter.

About Integra Group Real Estate

Founded in 2005, Tucson, Ariz.-based Integra Group Real Estate LLC is a brokerage firm specializing in the management, preservation and marketing of REO, HUD and distressed properties in Southern Arizona. Through its proprietary Integra Process, the broker provides strategic property evaluation, counseling, preservation and property marketing assistance to four of the top 10 U.S. mortgage lenders. For more information, visit www.IntegraTucson.com.

Contacts

For Integra Group Real Estate
Sarah Lewis, 678-781-7209

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California Pending Home Sales Lower in December; Distressed Sales Rise as Lenders Push Through More REOs, Short Sales, C.A.R. Reports

Posted on January 24, 2012 by

California Pending Home Sales Lower in December; Distressed Sales Rise as Lenders Push Through More REOs, Short Sales, C.A.R. Reports

LOS ANGELES–(BUSINESS WIRE)–The CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) Pending Home Sales Index dropped as expected between November and December, tracking the annual seasonal slowdown. However, the index was higher than a year ago for the eighth straight month, a trend that bodes well for the start of the spring home-buying season. C.A.R. also reported that sales of distressed properties increased in December, as lenders pushed to close REOs and short sales to move them off their balance sheets before the end of the year.

Pending home sales:

C.A.R.’s Pending Home Sales Index (PHSI)* fell from a revised 108.7 in November to 91.6 in December, based on signed contracts. The index was up from the revised 82.5 recorded in December 2010, marking the eighth consecutive month that pending sales rose from the previous year. The decline follows a normal seasonal drop that usually occurs in November and December. Pending home sales are forward-looking indicators of future home sales activity, providing information on the future direction of the market.

Distressed housing market data:

Equity sales made up 52.7 percent of home sales in December, down up from 55.1 percent in November but up from 51.7 percent in December 2010.
The total share of all distressed property types sold statewide rose to 47.3 percent in December, up from November’s 44.9 percent but down from 48.3 percent in December 2010.
Of the distressed properties sold statewide in December, 22.2 percent were short sales, up from the previous month’s share of 21 percent and up from last December’s share of 19.6 percent.
The share of REO sales rose in December to 24.6 percent, up from November’s 23.5 percent but down from the 28.3 percent recorded in December 2010.
Multimedia:

View a video of C.A.R. Chief Economist Leslie Appleton-Young discussing highlights of the December existing home sales and price report, which was released Jan. 17.
View a chart of closed housing sales by sales type.
View a chart of pending sales compared with closed sales.
View a chart of the historical trend in the share of equity sales compared with distressed sales.
View a chart of housing supply for REOs, short sales, and equity sales.

Share of Distressed Sales to Total Sales
(Single-family)

Type of Sale
Dec.
2010

Nov.
2011

Dec.
2011
REOs 28.3 % 23.5 % 24.6 %
Short Sales 19.6 % 21.0 % 22.2 %
Other Distressed Sales (Not Specified) 0.4 % 0.5 % 0.5 %
Total Distressed Sales 48.3 % 44.9 % 47.3 %

Single-family Distressed Home Sales by Select Counties
(Percent of total sales)

County
Dec.
2010

Nov.
2011

Dec.
2011
Amador 71 % 44 % 48 %
Butte 39 % 36 % 51 %
Humboldt 27 % 28 % 29 %
Kern 71 % 60 % 64 %
Lake 81 % 58 % 63 %
Los Angeles 48 % 46 % 49 %
Madera 60 % 88 % 80 %
Marin 34 % 30 % 37 %
Mendocino 57 % 52 % 45 %
Merced 60 % 64 % 64 %
Monterey 65 % 59 % 56 %
Napa 54 % 53 % 49 %
Orange 38 % 36 % 42 %
Riverside 67 % 61 % 63 %
Sacramento 66 % 63 % 63 %
San Benito 66 % 65 % 75 %
San Bernardino 72 % 64 % 67 %
San Diego 28 % 27 % 28 %
San Luis Obispo 46 % 44 % 48 %
San Mateo 28 % 28 % 28 %
Santa Clara 39 % 32 % 37 %
Santa Cruz 40 % 46 % 41 %
Siskiyou 44 % 33 % 54 %
Solano 74 % 72 % 70 %
Sonoma 55 % 51 % 51 %
Tehama 84 % 54 % 54 %
California 48 % 45 % 47 %

*Note: C.A.R.’s pending sales information is generated from a survey of more than 70 associations of REALTORS® and MLSs throughout the state. Pending home sales are forward-looking indicators of future home sales activity, offering solid information on future changes in the direction of the market. A sale is listed as pending after a seller has accepted a sales contract on a property. The majority of pending home sales usually becomes closed sales transactions one to two months later. The year 2008 was used as the benchmark for the Pending Homes Sales Index. An index of 100 is equal to the average level of contract activity during 2008.

Leading the way…® in California real estate for more than 100 years, the CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States, with 155,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50143002&lang=en

Contacts

CALIFORNIA ASSOCIATION OF REALTORS®
Lotus Lou, (213) 739-8304
lotusl@car.org

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Pergo North America Restructures for Long Term

Posted on January 24, 2012 by

RALEIGH, N.C.–(BUSINESS WIRE)–Pergo North America (Pergo LLC) today announced it has successfully emerged from a corporate turnaround program that involved making significant capital and structural investments in order to ensure long-term financial stability.

“At this time, our biggest challenge is keeping up with extremely robust product demand, and we are taking the necessary steps to upgrade our production capacity accordingly”
Over the past year, Pergo has re-evaluated and restructured its business model, product lines and customer service methods, resulting in stronger than anticipated 2011 sales. Pergo North America continues to successfully operate independently and is delivering positive financial results.

“We’re very pleased with the multifaceted restructuring efforts and fully expect Pergo to prosper in the future,” said a Pergo spokesperson. “All our employees have demonstrated their commitment to the long-term success and growth of the company and have contributed to the smooth and successful turnaround process.”

With the introduction of well-received new products and flooring sales trending toward premium offerings, Pergo has a stable product mix that provides customers and consumers with exclusive design innovations and manufacturing technologies.

“At this time, our biggest challenge is keeping up with extremely robust product demand, and we are taking the necessary steps to upgrade our production capacity accordingly,” said the spokesperson. “Throughout 2012, we plan to continue investing in both the strength of the Pergo brand and relevant new product introductions in order to support our position as the industry leader.”

About Pergo

Pergo is widely regarded as the inventor of HPL laminate flooring, and is an industry leader in both the North American and European markets. The company develops, produces and markets premium laminate flooring that combines innovative designs with exclusive product technologies for residential and commercial use. For more information, visit www.pergo.com.

Contacts

L.C. Williams & Associates
Samantha Frost or Alyssa Templeton
(312) 565-4624 or (312) 565-4610
sfrost@lcwa.com or atempleton@lcwa.com
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Honua Kai Resort & Spa Sells $56 Million in 75 Homes

National Association of Home Builders Commends Obama

Integra Group Real Estate Sold 400 Distressed Homes in 2011

California Pending Home Sales Lower in December; Distressed Sales Rise as Lenders Push Through More REOs, Short Sales, C.A.R. Reports

Pergo North America Restructures for Long Term

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