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Aloha ,
Market Update
On March 1st, President Obama signed into law a bipartisan bill that will delay the flood insurance premium rate hikes on property owners nationwide.
The Homeowner Flood Insurance Affordability Act repeals and modifies the Biggert-Waters Flood Insurance Reform Act of 2012. Rate hikes were a key part of Biggert-Waters Act since the National Flood Insurance Program has around $24 billion in debt.
This act repeals FEMA's (Federal Emergency Management Agency) authority to increase premium rates when a property is sold. It also refunds the excessive premium to those who bought a property before FEMA warned them of the rate increase. Furthermore, it limits the premium increase to 18 % annually on newer properties and 25 % on some older ones. Read more.
Have a wonderful week.
Mahalo Nui Loa,
Melissa for The Smith Team
Ken, Melissa, Greg, and Jeremy
P.S. - Our state holiday, Prince Kuhio Day is tomorrow. All state and county offices, public schools, and public libraries will be closed.
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
Market Watch for March 25th, 2014
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Active
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Pending
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Sold
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Change
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Homes
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569 (291)
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234 (33)
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968 (182)
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-6
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Condos
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760 (181)
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259 (27)
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1373 (184)
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+24
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Land
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368 (124)
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50 (7)
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217 (28)
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+7
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Total
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1697 (596)
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543 (67)
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2558 (394)
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-5
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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
338 Cook Pine Drive
Kapalua
$2.395M (FS)
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This two story, 4,088 sq ft peaceful, elegant, fully furnished home boasts unrivaled privacy. Situated at the end of a cul-de-sac nestled amongst the cook pines featuring amazing sunsets. Four en suite bedrooms with an additional ½ guest bath. Two of the master bedrooms are facing the Pacific Ocean.
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168 W Ikea Moku Place
Wailea
$2.65M (FS)
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Beyond the dramatic entryway of this Wailea Kialoa residence you are immediately awestruck by the vast living areas of this substantially magnificent home.
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13352 Haleakala Highway
Kula
$5.5M (FS)
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This completely self-contained 52 acre property features two parcels, 38 + acres and 14 acres; a massive well / water system that includes water from the top of the property to the bottom; a 6 kilowatt photo-voltaic system (solar) with battery and generator back-up; a first class custom cottage and the infrastructure in place (septic and graded pad) for the main home. Further subdivide, share the water, develop your favorite crop or just complete what will become one of Maui’s most private and beautiful estates.
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Homes Under $1M
39 E Waiko Road
Waikapu
$319K (FS)
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Fixer upper in Waikapu. Great location and great price. Old 3 bedroom / 1 bath plantation home.
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645 Komo Ohia Street
Wailuku
$530K (FS)
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Largest 1 story floor plan in subdivision. Fenced yard for children or pets. Solar water heater. Low maintenance yard with sprinkler system.
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104-A L. Waiehu Beach Road
Wailuku
$617K (FS)
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Short Sale. This property sits along the shores of a highly desired Kite surfer's destination. The gusty trades are ideal for such exciting water activity. The ground floor offers a spacious kitchen, dining area with a large bedroom and a smaller bedroom that could be utilized as a home office. The 2nd floor hosts 3 bedroom, a balcony on looking the ocean and full bath.
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302 Pukalani Street
Pukalani
$699.9K (FS)
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Breathtaking bi-coastal ocean views from this custom built 3 bd. 2.5 bath 2,500+ sq. ft. home.
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35 N Iwa Place
Ka'anapali
$975K (FS)
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Bank Owned. Located in a cul-de-sac within a subdivision with nearby shops, restaurants, resorts and the golf course. Value added touches were done throughout the home and recent renovations, such as flooring and paint.
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Vacation Condos Over $1M
Makena Surf F-203
Makena
$2.358M (FS)
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Enjoy spectacular and unobstructed south facing ocean and outer island views from this 2 bd. 2 bath Makena Surf residence.
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Vacation Condos Under $1M
Kihei Akahi C-306
Kihei
$309K (FS)
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This unit is nicely upgraded with a great location for ocean and mountain views, and a quick stroll to the barbecue, pool, and ocean.
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Grand Champions #37
Wailea
$589K (FS)
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One of Wailea's best values for a turnkey ready 2 bd. 2 bath condo.
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Napili Point A23
Napili
$625K (FS)
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Situated on a cove with one of the best oceanfront locations on Maui. This one bd condo is located in the Napili Point Resort, a low-rise condo community consisting of 115 apartments in ten 1-story, 2-story and 3-story buildings on 3.39 acres of prime West Maui ocean frontage.
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Residential Condos
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Iao Parkside 44-105
Wailuku
$232.9K (FS)
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Bank Owned. Located in Central Wailuku, this ground floor unit offers 3 bedrooms and 2 full baths. Located near a community recreation center, parks, shopping, dining, schools and churches
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Haleakala Gardens 8E
Kihei
$289.5K (FS)
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Fantastic opportunity for this nicely remodeled kitchen with custom cabinetry and newer appliances.
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Vacant Land
5147 Makena Road
Makena
$1.624M (FS)
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Ready to build your Makena, Maui dream home? Papaanui, Lot 5, is incomparable in its unique location in Makena, Maui, Hawaii.
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