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Aloha ,
Market Update
With rapidly rising home prices in many markets across the country, some people are claiming that we are heading for another real estate bubble.
According to Rick Sharga, executive vice president with Carrington Mortgage Holdings, “This is not the 2005 market. We are not creating a bubble.”
It is the shortage of inventory that is causing prices to rise. As prices rise, more sellers will be induced to sell, and more foreclosures are expected to hit the market within the next 12 months. Additionally, home builders are adding inventory as quickly as they can build. All of these factors will take some of the pressure off the market.
We don’t expect, though, that an increase in inventory will completely stop prices from going up….simply slow the rate of increase. As we have commented in previous newsletters, the record low interest rates and rising rental rates makes a compelling argument for buying vs. renting.
The Maui market is unique in many respects. As a world class resort destination, we benefit from a large percentage of off Island buyers looking for second homes, vacation properties, as well as those looking for a great place to retire or live part-time.
Have a wonderful week.
Mahalo Nui Loa,
Greg, Melissa, Ken, and Jeremy
P.S. - State population grew by 1% from 2010 to 2012.
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
Market Watch for April 8th , 2013
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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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517 (292)
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241 (33)
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933 (122)
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+11
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Condos
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750 (191)
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329 (25)
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1217 (102)
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-1 |
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Land
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377 (106)
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42 (6)
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179 (20)
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-4
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Total
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1644 (589)
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612 (64)
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2329 (244)
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+6
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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
2075 Baldwin Avenue
Makawao
$1.75M (FS)
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Immaculate family home on two beautiful acres conveniently located between Paia and Makawao towns on Maui’s North shore / Upcountry area and within close proximity to numerous schools, dining, shopping and sandy beaches. Fenced and gated for complete privacy, lush tropical landscaping with many fruits and flowers. Beautiful panoramic bi-coastal views of the central valley and West Maui Mountains with sunsets and distant city lights of Kahului and Wailuku at night.
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14 Puu Hale Street
Ka'anapali
$1.799M (FS)
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Discriminating quality and attention to detail best describe this 4,800 square foot remodel of this Kaanapali Hillside gem. This sprawling 2-story floor plan features 3 bedroom and 3.5 baths. The marriage of exotic woods with stunning granite and travertine brings simple island elegance to this spacious retreat.
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4354 Walina Place
Wailea
$2.495M (FS)
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Enter this Wailea Golf Vistas Ocean View home and immediately you sense the grandness. Each room including the bedrooms conveys a spacious, airy and bright feeling. Whether used as a primary or second home, you will feel comfortable in this gated community just minutes from world class golfing, fine dining, and 5 star hotels and big sandy beaches.
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Homes Under $1M
2176 Mokuhau Road
Wailuku
$279.9K (FS)
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Charming remodeled home with panoramic view. This home is located on the west side of Happy Valley. Kitchen and bathrooms feature new cabinets, granite counters, stainless steel appliances, new hot water heater, new interior doors, mirror closet doors, new tiled bathroom and flooring. Bedrooms and living room feature new laminate wood flooring. New light fixtures throughout, new vinyl windows throughout the home.
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2679 Kalialani Circle
Pukalani
$399K (FS)
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Short Sale. Great location right near Pukalani Golf Course. This is a sturdily built home of concrete block walls, vaulted ceiling and Monier tile roofing with a large, detached, bonus workshop ready for the handyperson or hobbyist. Stained, polished, concrete floor in the living room and hallway. Large lot makes for a world of possibility.
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8884 Kula Highway
Keokea
$479K (FS)
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Charming rustic 3 bedroom home on 1.06 acres of land in the Keokea area. This home has fantastic ocean and mountain views. Home is priced to sell and is sold in "AS-IS" condition. Home has lots of potential and needs upgrading and TLC. Lots of mature fruit trees.
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240 Copp Road
Kula
$695K (FS)
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Located a short distance above Calasa Service Station on Copp Road you will find this beautiful bi-coastal view lot offering unobstructed views of both the Kihei to Makena and Kahului to Haiku coastlines. Also a magnificent view to the central plains and West Maui mountains. There is a long section of road frontage on one boundary of the lot and the opposite boundary is along a ravine. Surrounding the house is a variety of fruit trees including a mature avocado tree, loquat and bananas.
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16 Holomakani Place
Ka'anapali
$995K (FS)
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Fantastic location in Kaanapali, walk to Kaanapali Beach from this 4 bedroom 3 bath home. 1/3 acre corner lot with beautiful large pool and hot tub, nicely landscaped and private. 2 car garage and great ocean views from the upper deck.
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Vacation Condos Over $1M
Whaler #1201
Ka'anapali
$2.95M (FS)
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The Penthouse #1201 at The Whaler is considered by many to be the finest condominium unit in Kaanapali. This jewel of Kaanapali was designed and built as the developer's family unit. On Maui, in the heart of Kaanapali beach, golf courses, shopping, and restaurants are all just an elevator ride to the ground floor. Elegantly appointed, 2 bedroom, 2 bath plus den/office beachfront suite is approximately 1845 sq. ft, of luxury living that includes a baby grand piano, fine art, and a smart tasteful design. See additional photos from last time unit sold.
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Vacation Condos Under $1M
Paki Maui #327
Honokowai
$419K (FS)
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Beautiful unit with two lanais. Master bedroom ocean side with own lanai, one bedroom on back side and an additional lanai off the living room.
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Grand Champions #183
Wailea
$459K (FS)
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Short Sale. A large two bedroom/two bath unit with tasteful interior colors and a large master bath with double shower heads. The location is just right! A minute's walk to the pool and walking distance to the Wailea Tennis Club and Joe’s Bar and Grill. Five minute drive to the Shops at Wailea, golfing, dining and entertainment.
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Residential Condos
Kanoelani Apts B
Kihei
$225K (FS)
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There are few residential condo complexes with a pool in this price range. Located in south Kihei, this cute 2 bedroom 1 bath condo is in a quaint 6 unit complex that is just steps to Cove and Kalama Parks.
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Villas at Kehalani #1003
Wailuku
$470K (FS)
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Developer Deal. New Release at Phase II of the Villas at Kehalani is finally here!!! The Villas is a 16-acre gated community of 103 luxury town homes in 30 buildings located in the Master Planned Community of Kehalani. These elegant homes brings a taste of Wailea to Central Maui. Virtual Tour.
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Kanani Wailea #26
Wailea
$899K (FS)
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Sold Furnished. You will be surprised by the high-end furnishings and decor included with this house with blend of Hawaiian and Asian style. Interior designer was Kathy Tai. Luxurious living in this spacious Ocean View 3 bedroom 2.5 bath in a Wailea Gated Community.
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Vacant Land
5147 Makena Road
Makena
$1.788M (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. There is a 3/4 inch County water meter installed on property. Wonderful south facing ocean, Molokini Crater, lava rock coastline, & outer island views.
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