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Aloha ,
Market Update
In 2010, the Hawaii State Legislature amended the State's Foreclosure laws requiring attorneys representing the lender in a foreclosure case to “affirm” that their filing was accurate. This effectively ended most foreclosures.
That was probably a good thing, because it gave the inventory a chance to shrink to the point that the foreclosures which have once again started hitting the market are easily absorbed by the pent up demand.
If you were fearful that a slew of foreclosures was going to cause the market to tank, you should get that thought out of your head. The 300 or so estimated properties that are still to be foreclosed on will easily be absorbed over the next 2 years as they work their way through the courts and on to the market.
With interest rates rising, it is time to act now, before prices and interest rates both go higher.
Have a wonderful week.
Mahalo Nui Loa,
The Smith Team
P.S. - For those of you who do long term rentals, you should be aware that you can now charge a pet deposit. Read more.
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
Market Watch for July 1st , 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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467 (258)
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249 (35)
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981 (136)
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+3
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Condos
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633 (161)
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280 (19)
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1262 (125)
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-7 |
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Land
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367 (104)
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46 (5)
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193 (28)
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+6
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Total
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1467 (521)
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575 (59)
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2436 (289)
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+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
29 Hoawaa Way
Wailea
$1.1M (FS)
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Come and see this great Wailea Kai Original! This was one of renowned architect Tim Farrington's first Wailea homes. The very unique and creative design will leave your imagination wondering about the endless possibilities of upgrading and modernizing the overall home.
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120 Ulupua Place
Speckelsville
$1.975M (FS)
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Exquisite jewel box on the 5th green at the Maui Country Club. 4,471 sq. ft of gracious and private living with entry gates onto grass blocks with a four car garage. Professionally landscaped with two water falls, hot tub, and lava rock walls. Gorgeous Tiger wood floors, Wolf range, dual ovens, gourmet kitchen, speakers throughout home, soffit ceilings, and copper gutters. Mother-in-law quarters above the garage.
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38 Uweloa Place
Makena
$7.9M (FS)
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This newly constructed Hawaiian Estate is located on a private road nestled above Makena Landing with a stairway meandering down to the beach. It was designed by acclaimed architect Greg Bayless. The single level floor plan features three separate pods with walls of glass connecting each pod. The home features a master suite with his and her bathrooms, closets and exercise room, a full chef's kitchen, separate ohana with additional kitchen- office and private entry.
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Homes Under $1M
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23 Aiai Street
Kahului
$365K (FS)
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Short Sale. Great value for this 3 bedroom 1 bath single family home with approximately 8,400 sq. ft. level lot in Kahului.
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33 Kakuhea Place
Haiku
$525K (FS)
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Country charm in beautiful Haiku. Stair case in the kitchen that leads to the basement. Large sliding and picture windows in the living room with pastoral views and wide open ocean views. Basement is beautifully remodeled with new electrical & plumbing. Perfect for a mother in laws quarters. Excellent property with fenced pasture for all the farm animals, goats already grazing there. Fruit bearing orchard with banana, orange, macadamia nuts, avocado, fig, mt. apple, lychee, to name a few.
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52 Kawehi Place
Kula
$594K (FS)
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Bank Owned. Country living in 1973 cedar main house and newer 2005 cottage with separate Olu’Olu Place entrance.
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78 Honuea Place
Kihei
$650K (FS)
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This well designed 2-story 5 bedroom 4 bath home is designed for multiple living arrangements; downstairs 1 bedroom 1 bath can be used as a separate rental, in addition to the other 4 bedrooms and 3 baths. The 1 bedroom 1 bath detached cottage is tucked away in the landscaped back yard offers additional income.
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88 Alaluana Road
Olinda
$750K (FS)
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Victorian inspired architecture perched on a knoll at the top of Olinda. Very private: one can barely see a neighbor. Serenity and peace are the key words for the property.
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Vacation Condos Over $1M
Ho'olei R-2
Wailea
$2.195M (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 comfort and ability to "lock and go" while at the same time enjoy the comforts of a condominium designed to feel like a stand alone residence. Villa R-2 has a very convenient location on the property, located with a close proximity to the pool and pavilion area. Interior appointments include a private elevator, a gourmet Studio Snaidero kitchen with Wolf and Sub Zero appliances abundant.
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Vacation Condos Under $1M
Kamaole Sands 4-106
Kihei
$349K (FS)
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Lowest priced 1 bedroom unit in the complex at time of listing. Unit has some updates, including granite counters. Large lanai area with pretty views.
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Maui Banyan H-502
Kihei
$435K (FS)
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Feel like you're on top of the world at this rarely offered top floor, corner unit on the cool trade wind side with wonderful ocean views, never miss a sunset. This beautiful 1 bedroom 2 full bath condo, partially remodeled 2010 w/new appliances, granite counters, and tiled floor.
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Grand Champions #45
Wailea
$675K (FS)
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Enjoy spectacular year round sunsets and impressive ocean views from this tastefully remodeled 2 bedroom, 2 bathroom Grand Champions property. This top floor, furnished unit has vaulted ceilings, newer appliances, granite countertops and new carpet in the living area and bedrooms.
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Residential Condos
85 Walaka Street #9
Kihei
$112K (FS)
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Bank Owned. 1 bedroom 1 bath condo near Cove Park.
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Napilihau Villages 6-204
Napili
$225K (FS)
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Short Sale. Upgraded 2 bedroom second story unit.
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Na Hale O Makena C-302
Makena
$1.875M (FS)
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This complex boasts a fabulous saline pool and gymnasium shared by only forty units. Because Na Hale O Makena is 100% residential it is among the areas most quiet and peaceful complexes. Gated entry, and on-site manager and concrete construction assures maximum security, quiet and privacy. The spacious and open floor plan is created by world class materials including slab granite countertops, travertine floors, European cabinetry, nine foot ceilings and oversized sliding glass doors leading to a large lanai with built in grill.
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Vacant Land
53 Kama Street
Waikapu
$185K (FS)
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This is the last vacant lot on lower Kama Street in Waiolani with very nice mountain views. The new Long's Drugs is open nearby, with other businesses moving in that will make shopping really convenient. Construction of the new elementary school is also underway. Build your dream home here.
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