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Market Update
"Help! Help! The sky is falling. I have to go tell the king!" "Do you know where the king lives?" asks the fox. "Come with me and I can show you the way." You've heard the story of Chicken Little, haven't you? The story ends with the fox leading the chicken into her den. The chicken never comes out of the den.
Lately it seems that mainstream media is out to say that the real estate markets are about to go in free fall. But is this really the case? Coldwell Banker's CEO, Jim Gillespie, presents a compelling counter-argument to the Case-Shiller publication. In his article Hey Case-Shiller, It's Not the End of the Real Estate World, Gillespie reminds us that all real estate is local. He also suggests that the Case-Shiller housing index is not the "be all and end all" economic indicator that defines our entire national housing indicator. Why? Because Case-Shiller covers 20 markets. Not 50. Not 100. Not 50. Case-Shiller covers 20 markets. Is Maui or Hawaii, for that matter, one of the markets? No.
On Maui, sales and prices are up from last year. What is going on in your local housing market? Is it different than what the mainstream media is projecting? Is the sky actually falling? Or is the fox just around the corner saying "come with me and I can show you the way?"
As always, thank you for reading The Maui Real Estate Newsletter. We appreciate our readership!
Have a wonderful week,
The Smith Team
P.S. 3248 Akala Drive in Maui Meadows is one of our featured properties this week, and for good reason. This multi-unit property on over a half acre with extraordinary South Maui ocean views is going to auction on June 22nd. It's not too late to submit a pre-auction offer. The bank is still looking at offers. Let us know if interested.
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
 
Market Watch for June 13th, 2011
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|
Active |
Pending |
Sold |
Change |
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Homes |
763 (276) |
248 (29) |
817 (98) |
-6 |
|
Condos |
1043 (201) |
246 (12) |
1108 (106) |
-2 |
|
Land |
512 (118) |
32 (8) |
116 (13) |
-1 |
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Total |
2318 (595) |
526 (49) |
2041 (217) |
-9 |
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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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333 Manawai Place
Haiku
$1.495M (FS)
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Panoramic ocean views and first class quality are everywhere on this beautiful 4.85 acre estate located just over 1,000 ft from the Pacific Ocean, and overlooking the cliffs of Uaoa Bay.
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384 Wekiu Place
Ka'anapali
$2.195M (FS)
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Stunning ocean views. This spectacular 3 bd. 3.5 bath custom home sits in the enviable front line position within the exclusive double gated community known as The Summit Estates.
Customer Listing Synopsis
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Homes Under $1M
187 Ikea Place
Pukalani
$319K (FS) |
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Bank Owned. Vintage, plantation style home in Pukalani on over half an acre.
Customer Listing Synopsis
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57 Loa Place
Napili
$349.9K (FS)
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Bank Owned. Charming 2 bedroom home nestled on the start of the cul-de-sac. Freshly painted with a newer kitchen. Fenced yard for privacy with large lanai area off the living room & one bedroom.
Customer Listing Synopsis
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3248 Akala Drive
Kihei
$504.9K (FS) |
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Bank Owned Auction. This property is scheduled to auction on Wednesday, June 22. Features ocean views with 2 bedrooms / 2 baths upstairs and 2 ohana units downstairs. There is also a separate office area downstairs by the garage. In the front of the property, there is a 2 bedroom / 1 bath cottage.
Agent Listing Synopsis
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Vacation Condo Over $1M
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Ho'olei R-4
Wailea
$2.225M (FS)
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The Ho'olei community is located directly across the street from the Grand Wailea Resort and Spa. Relax with the ability to "lock and go" while at the same time enjoy the comforts of a condominium designed to feel like a stand-alone home. Residence 55-4 is the last available Plumeria floor plan offered in the highly sought after second row of the neighborhood.
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Vacation Condos Under $1M
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Aina Nalu J-205
Lahaina
$199.9K (FS)
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Bank Owned. This comfortable 1 bedroom unit is offering wonderful amenities for you or your guests. Two large pools, BBQ areas, hot tub & great pavilion for gatherings. Walking distance to Lahaina town.
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Palms at Wailea #603
Wailea
$641.4K (FS)
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Short Sale. This beautiful unit is located a short walk from lovely Keawekapu beach and the Shops at Wailea. Enjoy this spacious layout with large sunken living room, and exceptional kitchen with nice stainless steel appliances. Huge double lanai with expansive greenbelt and garden area.
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Residential Condos
Iliahi at Kehalani 22A
Wailuku
$214.9K (FS) |
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Bank Owned. Enjoy cool Wailuku breezes in this large townhouse with ocean and mountain views in Iliahi at Kehalani. Large floor plan makes this feel more like a home rather than a condo.
Customer Listing Synopsis
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Kanani Wailea #3
Wailea
$749.9K (FS)
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Bank Owned. This is an excellent opportunity to own in prestigious Kanani Wailea. This home features a front row location with views of Molokini to West Maui, a gourmet kitchen with hardwood flooring, granite counter tops and top of the line appliances.
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Wailea Point #1903
Wailea
$1.695M (FS) |
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Beautiful unit on expansive green belt with ocean & West Maui views. Exotic Hawaiian foliage and landscape wrapped around the large lanai provides privacy while enjoying the cool ocean breeze. Lovely and updated interior shows pride of ownership.
Customer Listing Synopsis
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Vacant Land
306 Aalii Way
Ka'anapali
$295K (FS) |
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Great location with beautiful views on a quiet cul-de-sac. 22 foot height allowance on your home allows for beautiful ocean views. Owner will trade for a property in Venice Beach, California.
Customer Listing Synopsis
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