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Aloha ,
Market Update
The Wall Street Journal cites 5 significant factors to rising home prices in the market.
1) Housing affordability is attractive: Since both housing prices are interest rates are still low, the monthly payment of a mortgage is looking
very appealing to buyers.
2) Household formation is revving up: Economists from Bank of America indicate that U.S. is on track to add 1 million new households this
year, up from 630,000 last year.
3) Rents are rising: This is prompting more investors to purchase properties to rent out and giving buyers a reason to get off the fence.
4) Share of distress sales are down: Mortgage delinquencies peaked 2 1/2 years ago. Banks have stepped up foreclosure alternatives like
short sales. One of our sellers is doing a pre-approved short sale through Bank of America and is receiving a relocation assistance credit
when her property records.
5) Inventories of homes for sale have plunged: Inventories of existing homes for sale are near a 10-year low and down by one third over the
past 2 years. We have one buyer that we are actively looking for a 2 bedroom unit in the Kihei area up to $250,000. There are currently
only 3 active listings that match his criteria. We ended up making an offer on an unlisted unit for a premium due to the low inventory.
Mahalo Nui Loa,
Greg, Melissa, Ken, and Jeremy
P.S. – We are one step closer to eliminating the water meter waiting list Upcountry. According to the Maui News, the Committee on Water Resources voted 4-1 in favor of a bill that would authorize the director of the Department of Water Supply to declare periods of water shortages countywide that would trigger higher water rates to encourage conservation. Any declaration would require approval from the mayor. Read more.
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
Market Watch for November 26th, 2012
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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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497 (259)
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251 (20)
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926 (121)
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+5
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Condos
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740 (162)
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282 (13)
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1184 (76)
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+1 |
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Land
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405 (108)
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40 (9)
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158 (16)
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+6
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Total
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1642 (529)
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573 (42)
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2268 (213)
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+12
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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
10877 Kula Highway
Keokea
$1.075M (FS)
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Located just a few miles down the road from Grandma's Coffee and Ching's and Fong's Stores, in a beautiful area known for its beautiful scenery, soft warm breezes and wonderful climate. Land area of 1.49 acres, the property has lots of character and "Old Hawaii" charm with vintage rock walls and a few dozen mature avocado trees. The magnificent 4 bedroom, 3.5 bath residence boasts 4,317 square feet of richly appointed living space with several covered lanais to catch all the views in comfort and style.
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50 Apuwai Street
Haiku
$2.49M (FS)
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You pass through the gated, curved, lava rock entrance & immediately sense 'balance' & the attention to detail evident in this N. Shore ocean view estate. Three swaying palms adorn the motor court's raised, moss rock island, while a sonorous stream runs 150 ft. along the house front & under the cedar-ceilinged entrance. Double entry doors with circular glass open to 180 degree ocean views framed by expansive lawns & verdant green fallow fields.
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127 Aleiki Place
Kuau
$3.295M (FS)
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Dramatic oceanfront location on Kuau Point overlooking world famous Hookipa beach where big wave surfing is a regular occurance. This home, built by a master boat craftsman consists of extensive use of the finest grade koa wood honed into intricate wood working detail, it is literally a residential art piece. The property sits high on a bluff with a commanding 180 degree view of the ocean completely secured by a rock wall and a 100 ft. seawall. Extensive use of glass provides a visual effect like you are sailing on the high seas.
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Homes Under $1M
66 Ihea Place
Pukalani
$274K (FS)
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Short Sale. Pukalani is known for perfect weather great community activities including the swimming pool, golf course, and community center area. This home is right in the heart of it all. Quaint cedar home features large yard and a huge workshop carport.
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536 Lahainaluna Road #B
Lahaina
$300K (FS)
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Great starter home. Maintenance fee of $110 includes water, trash, and insurance. Convenient location in small complex.
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340 Kulalani Drive
Kula
$386.9K (FS)
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Bank Owned. House and cottage near the Kula Lodge. Contractor / handyman special. Cash buyer's preferred since financing probably is not available unless its an 401K rehab loan.
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15 Molehulehu Loop
Kahului
$400K (FS)
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Short Sale. Single story home with vaulted ceilings. Light bright and clean. Kitchen with island, family and dining area and built-in cabinetry.
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42 N. Laelua Place
Paia
$550K (FS)
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Short Sale. Great opportunity! Well maintained single story home with vaulted ceilings, large kitchen and more. In a highly sought after North Short neighborhood, close to the best windsurfing, beaches and Paia.
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3356 Kehala Drive
Kihei
$995K (FS)
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Large split level Maui Meadows home and cottage on a 1/2 acre mostly level lot. This home with over 2700 sf has an open and spacious floor plan which includes three bedrooms, 2.5 baths, a great room with vaulted ceilings and a basement bonus room. Flowing from the great room is a large covered deck which offers some ocean views while you enjoy the tropical yard and pool.
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Vacation Condos Over $1M
Wailea Beach Villas #207
Wailea
$2.299M (FS)
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Fully furnished and ready for move-in or vacation rental. Current owners do not vacation rental so everything is in pristine condition. Leave your car in the garage, with a central location it is a simple walk to Wailea Beach, the Shops at Wailea and all the hotels in Wailea.
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Vacation Condos Under $1M
Maui Banyan P-406
Kihei
$370K (FS)
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Clean and tidy 1 bedroom, 2 bath fully furnished turn-key unit at this South Kihei vacation rental hot spot. Unit has excellent rental history in Aston Rental Program.
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Kahana Villa E-702
Kahana
$399K (FS)
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Enjoy spacious loft style living in this ocean view 2 bedroom / 2 bath condo. Beautifully remodeled, this 1268 sq ft condo will please with custom tile work in the kitchen and baths, as well as new laminate flooring. Soaring ceilings and a huge windowed wall offer vistas of whales and sail boats in the glistening water.
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Kihei Beach #406
Kihei
$399K (FS)
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Spectacular Ocean views from this beachfront condo. Enjoy views of Kahoolawe, Molokini, Lanai and the West Maui Mountains and end the day with spectacular sunsets. Great Location to capture whales breaching in season with windsurfers add to the viewing excitement from this condo. The electric and Central air-conditioning are included in the maintenance fees.
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Wailea Ekolu #1003
Wailea
$625K (FS)
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If you are looking to own a lovely upgraded Wailea Condo within a lush tropical setting, you will want to highly consider this one. Relax inside or out, with ocean, mountain and garden views from your living room, kitchen, bedroom, and outside covered lanai.
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Residential Condos
Kihei Shores C-304
Kihei
$180K (FS)
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Recently updated Kihei Shores condo. Enjoy preparing meals and eating them on your lanai or taking it down to Kamaole Beach 3. Spacious floor plan that includes 2 bedrooms and 2 bathrooms.
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Wailea Point #2003
Wailea
$1.575M (FS)
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Fantastic value located in Wailea’s sought after exclusive community with direct access to the Wailea promenade & beaches. This lovely single level ocean view villa has been adorned by luxury furniture throughout. The master suite enjoys his and hers bathrooms. The second bedroom has the ability to be a private suite as well.
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Vacant Land
393 Kualono Place
Wailea
$415K (FS)
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Exceptional vacant lot located at the end of a cul-de-sac in the premiere gated community of Wailea Pualani Estates. Build your dream home with potential ocean views from the second level.
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