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Market Update
We are now going to further our discussion from last week and see how Maui County did in short sales for 2011. For single family home sales, 133 units were sold in 2011 compared to 111 units in 2010 with a 16.5 % increase. For condo sales, there was a 9.9% decrease in sales with 127 units sold versus 141 units in 2010.
In the past, banks used to delay the short sale process in which the seller needs to get their Lienholder’s approval since they are selling their property for less than what they owe. Some buyers couldn’t wait 6 months to hear back from the bank and would just move on to the next property.
According to Bloomberg, banks are accelerating their efforts to move troubled mortgages off their books and are offering as much as $35,000 or more in cash to delinquent homeowners to sell their properties for less than they owe. See article.
It is a good opportunity to consider short sales for now banks are pre-approving the sales price and are making the process a lot easier than before. Check out our updated list of short sales and let us know if you are interested in any of the listings. If you are a seller that needs to do a short sale, we would be happy to assist you as well.
Mahalo Nui Loa,
Greg, Melissa, Ken, and Jeremy
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
 
Market Watch for February 13th, 2011
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Active |
Pending |
Sold |
Change |
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Homes |
623 (263) |
242 (29) |
904 (116) |
-14 |
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Condos |
1029 (194) |
253 (10) |
1148 (90) |
+10 |
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Land |
501 (113) |
30 (5) |
132 (20) |
+2 |
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Total |
2153 (570) |
525 (44) |
2184 (226) |
-2 |
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1. The numbers in parentheses reflect the number of listings over $1M
2. Sold listings are for the previous 12 months.
3. Change is the increase or decrease in number of active listings from the previous week.
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Homes Over $1M
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480 Hoolawa Road
Haiku
$1.25M (FS)
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Super Luxury Off The Grid. Custom 2,264 sq. ft. home on 5 manicured North Shore acres. This estate is in perfect condition. Meticulous maintenance standards. Electric power is generated on property; full communications center, gourmet chef's kitchen, private owners suite, outstanding inventory and landscaping. So near yet so far removed. Prime horse country.
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3171 S Noho Loihi Way
Wailea
$1.35M (FS)
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Quality custom home on a cul-de-sac offered in gated Wailea Pualani Estates. This two story home is oriented with a spacious wrap around upstairs lanai facing a nice view of the ocean.
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197 Plantation Club Drive
Kapalua
$3.5M (FS) |
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Bankruptcy Sale. Lowest priced home by far in the exclusive Plantation Estates. This elegant home with gated entry is situated on 2 acres within the prestigious Plantation Estates at Kapalua Resort, Maui Hawaii. Enjoy wonderful views of the ocean and the island of Molokai from the interior of this home, or from the gorgeous infinity pool with waterfall and spa.
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Homes Under $1M
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25 Alohi Place
Pukalani
$289.9K (FS)
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Bank Owned. It is rare to find a property with a lot this large in an established residential setting. Room to expand house and still have a cottage, or scale back the house and build your dream home behind it.
Customer Listing Synopsis
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360 Kuualoha Street
Kahului
$388.7K (FS) |
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Bank Owned. Fantastic 4 bedroom, 3 bath home in The Greens at Maui Lani. Large, two story floor plan with high ceilings, bedrooms both upstairs and down, and a nice backyard. Haleakala and West Maui Mountain views. Close to schools, shopping, golf, and all the community conveniences of Central Maui living.
Customer Listing Synopsis
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7 Lanipo Place
Kahului
$549.9K (FS) |
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Bank Owned. Great opportunity for first time buyer or investor. Own a spectacular home in the islands. Pool was replastered and ready to go. Property needs a very little work.
Customer Listing Synopsis
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Vacation Condo Over $1M
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Whaler #1201
Ka'anapali
$3.295M (FS)
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The Penthouse" refers to the best of the rest and #1201 is exactly that. This elegantly appointed private residence offers the most commanding ocean and sunset views 365 days a year. Nestled high a top tower I at the Whaler on Kaanapali, this magnificent condominium is designed to meet every expectation of luxury and style.
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Vacation Condos Under $1M
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Royal Kahana #904
Kahana
$249.5K (FS)
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Royal Kahana Resort is a AAA oceanfront condominium situated right on the sandy beach of Kahana Bay. Studio Unit #904 is turnkey "A" rated furnished vacation rental with fully equipped kitchen, washer/dryer and air-conditioning. The "04" stack at Royal Kahana is the most desirable studio location on the North facing side. Trade winds ,views of Molokai, and down the northern coastline towards Kapalua.
Customer Listing Synopsis
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International Colony Club 31
Ka'anapali
$315K (FS)
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This cottage almost 1500 sq. ft. with a very open floor plan and lots of windows for views and lighting. It sets back from the road and the road noise. The project also offers two in-ground pools and sits on almost ten acres with 44 separate cottages, each one different.
Customer Listing Synopsis
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Sugar Beach Resort #501
Kihei
$319K (FS)
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Short Sale. Fully Furnished end unit with Nice ocean and mountain views. Priced very well compared to other similar units. Great opportunity for the right Buyer to own a nice unit in a beautiful oceanfront complex at an affordable price. Sugar Beach is adjacent to a lovely five mile stretch of five oceanfront and the Kealia National Wildlife Refuge.
Customer Listing Synopsis
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Kapalua Golf Villas 24P5,6
Kapalua
$568.5K (FS)
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Bank Owned. A spacious two bedroom, two bath villa with ocean and island views, 24P5,6 is oriented to the West to take advantage of Maui’s spectacular sunsets. The Golf Villas are located in the heart of the Kapalua Resort and are close to golf, tennis, walking trails, restaurants, and beaches.
Customer Listing Synopsis
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Residential Condos
Maui Lani Terraces D204
Honokowai
$124.9K (FS) |
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Bank Owned. This 1 bedroom 1 bath condo is ready for immediate occupancy. Located near shopping, dinning and the ocean, this unit offers a lot of opportunities for it's next owner.
Customer Listing Synopsis
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Kanani Wailea #22
Wailea
$699K (FS)
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Best value at Kanani Wailea, an exclusive community of luxury residential condos in resort town of Wailea, Maui. Enjoy the pool, spa, fitness center, and enclosed two-car garages. Superior quality of construction includes steel framing, Monier tile roof, dual-glazed windows, 9 ft ceilings, ceramic tile, Wolf stainless appliances, granite countertops, tray ceilings and bullnose corners. Upstairs master suite offers dual vanities, huge soaking tub and shower, pocket doors, walk-in closet, and private lanai with partial oceanview.
Customer Listing Synopsis
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Vacant Land
10 Kai Ala Drive
Ka'anapali
$6.5M (FS) |
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Less than half the price per square foot of the other beachfront parcels available today. Compare and grab this great value for over an acre on Ka’anapali North Beach.
Customer Listing Synopsis
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