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| Issue 377 | May 25th, 2010 |
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| Aloha ,
In this newsletter:
REO Properties
Short Sales |
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Market Update
Builder confidence reached its highest level since pre-recession levels in August 2007. This is no surprise since the economy is rebounding and new housing construction has not kept pace with household formation. Read more.
Other positive signs of the real estate recovery can be found in the number of closed and new escrows for existing homes. Inventories are shrinking and prices are stabilizing throughout the country.
Even hard hit areas such as Las Vegas and Phoenix are experiencing significantly increased sales. Reports from Santa Barbara are also encouraging for Maui, since our markets share many common characteristics. The $1 to 2 million price range has seen inventory shrink from 13 months at the beginning of the year down to only 7 months now.
Our market typically lags behind West Coast markets by 6 to 12 months, so we feel that now is an ideal time to buy before the market inventory shrinks. Actually, as you can see from our weekly Market Watch, the overall inventory on Maui for homes has shrunk from 18 months down to 13 months.
Have a wonderful week!
Mahalo Nui Loa,
The Smith Team P.S. Someone asked how we pick which properties to feature in our Newsletter. In some cases, it is rather obvious...great price. At other times, it may be inside knowledge, such as being privy to the owner's motivation. In the case of our Featured Listing this week, Hale O' Oloa, we decided to showcase this property because of a $2 Million price reduction. Is it a great price? No. It is still too high, but the substantial movement is an indication to us of motivated sellers.
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
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Market Watch for May 24th, 2010
| Active | Pending | Sold | Change | |
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| Homes | 858 (354) | 242 (39) | 798 (102) | -10 |
| Condos | 1259 (226) | 270 (18) | 1018 (156) | -3 |
| Land | 571 (160) | 31 (7) | 132 (23) | +8 |
| Total | 2688 (740) | 553 (54) | 1948 (281) | -5 |
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1. The numbers in parentheses reflect the number of listings over $1M |
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This lush private oasis with a fabulous plantation style home that has been remodeled offers the luxury of 4 bedrooms, each with it's own private bathroom. The master suite has a private office that is equivalent to the size of a standard bedroom and two of the guest bedrooms have "finished" lofts with easy access. Virtual Tour. |
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See Molokini and enjoy dramatic 180 degree ocean views from the expansive great room! A few features are a tongue-in groove Douglas Fir coffered ceiling, low-E double paned windows, a built-in wall unit for large screen TV and stereo,and a built-in CD/DVD storage closet. |
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Oops! This listing just went pending. This spacious, well-built 4-bedroom Pineapple Hill home features 2 generous master suites, with extensive use of marble in the bathrooms. This private location at the end of the cul-de-sac enjoys fantastic ocean views and privacy second to none. |
 246 Kawaipuna Lane Wailuku $299K (FS) |
Bank Owned. Located at the end of Kawaipuna Lane, great backyard, Iao Parkside sits behind property. Home has been upgraded and remodeled some. A must see.
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Short Sale. House and cottage in Maui Uplands. Features a community pool and tennis court. Main house has 4 bedrooms 2 baths upstairs, with a separate 1 bedroom 1 bath downstairs with a full kitchen and separate attached mother-in-law studio/office with private bath. |
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 2668 Iolani Street Pukalani $639K (FS) |
The double sliding glass doors from the wonderful living room disappear and open to a most spectacular covered deck with magnificent bi-coastal views. All in the midst of French country charm. This home offers a Wailea lifestyle right in Pukalani with cooling trade winds and easy access to great schools.
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Bank Owned. Pool and Ocean view home. Many improvements built without permit approval. |
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Bank Owned. Nice home on a cul de sac up in Kaanapali Hillside. Detached 2 car garage, in ground pool, tile flooring, large master bathroom, large living area downstairs. |
Ho'olei G-6
Wailea $2.495M (FS) |
Ho'olei G-6 is one of two very unique Hibiscus villas positioned directly over the pool area. This is the largest, and most highly sought after floor plan in the entire neighborhood, consisting of an expansive 3,076 feet of interior footage. With the covered lanai areas and attached garage, this villa is over 4,300 sq. ft. Relax with the comfort and ability to "lock and go" while at the same time enjoy the comforts of a condominium designed to feel like a stand- alone home. Virtual Tour. |
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Beachfront complex nestled on miles and miles of white sand beach at the edge of North Kihei.
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Priced to sell. 1 bd. 1.5 bath ocean and golf course view corner unit.
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 Paki Maui #102/102A Honokowai $659.9K (FS) |
Great value for this large 2 bedroom / 2 bath direct oceanfront unit at Paki Maui. It is currently used as a one bedroom unit and a studio. There are no appliances and furnishings in this unit.
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 Wailuku Townhouses #403 Wailuku $199K (FS) |
Short Sale. Outstanding Wailuku location across from One Main Plaza and the County Building, this fourth floor, 1 bedroom, 1 bath unit has been completely remodeled with new appliances, new cabinetry, granite countertops and more. |
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 Kamoa Views #305 Kihei $225K (FS) |
Central position in the building for views that extend from Kahoolawe to the West Maui mountains with the surf breaking visible from the lanai of this studio-style one bedroom, spacious and remodeled island condo. |
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This is a beautiful 2 story corner/end unit town home, perched on the side of the Mountain in Wailuku with Great Ocean Views. Features include Stainless Steel Appliances, Tiled floors, Lanai & Outside Storage. Iliahi at Kehalani is conveniently located just minutes from shopping, schools, medical facilities, county buildings, and Maui Lani Golf Course. |
 3343 Anuwanu Place Pukalani $400K (FS) |
This level large lot has been previously approved for a 9 lot subdivision. Presently it is used for grazing. Zoning does allow for residential subdivision uses. |
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