|
Market Update
"It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity..."
Can you identify where the above quote originated? If you said Charles Dickens' A Tale of Two Cities, then you are correct.
We thought of this quote because it seems to reflect the times we are in. History is a great teacher. If it teaches us anything it should be that patterns repeat themselves. The economic environment we are in is nothing new. We've been here before. Yes, it might seem different this time. But rest assured, this is nothing new. The mainstream media tries to feed our minds with messages of fear of the unknown and uncertainty, because that's what sells. But do the messages being put out about the economy, have to determine the reality you and I live in? Of course not.
"It was the best of times, it was the worst of times..." Isn't it true that focus grows wherever you put it. So what are focusing on? Fear and uncertainty? Or the search for opportunity? Don't always believe everything you hear. What you consistently listen to, you will begin to believe.
Remember to guard the door of your mind. Feed your mind messages of opportunity and hope. Things are never as bad as they seem... or as good as they seem. We thought we'd depart from our usual market update to share this message on keeping perspective with you. We're drinking our own medicine.
And finally what would be a Maui Real Estate newsletter without a bit of perspective on the market? Inventory levels have been consistently falling this year. A year ago tomorrow, there were 2794 units for sale on Maui. Today, there are 2219 active units for sale. That's a 20% plus decrease in inventory during the past 12 months. As inventory continues to fall, will we begin seeing some price gains? Time will tell. One thing we are certain of is it's going to be a great fall, winter, and spring!
Remember: Focus on what you want this week, and off the things you don't want.
Have a wonderful week,
The Smith Team
P.S. The featured property is our new bank owned listing. We feel this is an extraordinary opportunity to buy a lovely oceanfront home on Maui at substantially below market value. Please call us for more details or to set up a showing.
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
 
Market Watch for August 22nd, 2011
|
|
Active |
Pending |
Sold |
Change |
|
Homes |
712 (257) |
256 (26) |
838 (108) |
-20 |
|
Condos |
1013 (178) |
211 (10) |
1152 (107) |
-3 |
|
Land |
512 (110) |
27 (7) |
128 (15) |
-2 |
|
Total |
2237 (545) |
494 (43) |
2118 (230) |
-25 |
|
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.
|
Homes Over $1M
|
1411 L. Kula Road
Kula
$1.7998M (FS)
|
|
Sweeping bicoastal ocean views and surrounded by pristine undeveloped pastures at the most sought-after upcountry elevation. This 3,982 sq. ft. executive home features an open flowing floor plan, quality materials and construction throughout, monier tile roofing, stucco exterior, 10' ceilings, solid mahogany interior doors, cherry cabinets, solid Brazilian cherry flooring, granite counters and extensive use of travertine. Kitchen has commercial range and refrigerator, walk in pantry, wine room grotto.
|
Homes Under $1M
360 Aulike Street
Lahaina
$329.9K (FS) |
|
Bank Owned. This asset offers creative living situations which may not be reflected on county records, so buyers must preview this asset to appreciate all that is being offered.
Customer Listing Synopsis
|
|
268 Maka Hou Loop
Wailuku
$414.9K (FS)
|
|
Bank Owned. Quality newer home in highly desirable subdivision. Tucked back at the rear of a shared driveway, this home offers privacy, however limited parking for visitors.
Customer Listing Synopsis
|
105 Kahana Nui Road
Kahana
$749.9K (FS) |
|
Bank Owned. Don't miss this opportunity to purchase a large home with great ocean views in Kahana Ridge. Home is in good shape and you can't beat the price for this large floor plan with lots of extras.
Customer Listing Synopsis
|
170 Alaula Place
Wailea
$899.9K (FS) |
|
Bank Owned. Four separate uniquely styled suites all under one roof. Each entered from their own private exterior door off the patio. There is an infrastructure in place that allows for living "indoors and out" at the same time, through a private courtyard and two patios adding an extended living area. Panoramic ocean and sunset views from the first and second floors provide an amazing backdrop during special parties or everyday living.
Customer Listing Synopsis
|
39 Lahaole Place
Wailuku
$949.9K (FS) |
|
Bank Owned. This spacious and elegant mansion sits on 2.25 acres of verdant meadowlands, at 1100 ft above sea level and dominates 180 degree ocean and mountain views. 5 bedrooms, all with ocean views, master bedroom has a vast walk-in closet and office area. The great room features 24 ft high ceilings and a floor to ceiling 60+ foot wall of glass facing the stunning views.
Customer Listing Synopsis
|
Vacation Condo Over $1M
|
Ho'olei R-4
Wailea
$2.195M (FS)
|
|
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.
|
Vacation Condos Under $1M
|
Kahana Sunset E1E
Kahana
$200.85K (FS)
|
|
Short Sale. Tastefully remodeled one bedroom/one bath condo with 700 square feet of living space. Open floor plan, new kitchen, new windows for great lighting and tile floors in living area. Unit is nestled in the corner of the property for maximum privacy. From E1E's lanai, you catch small ocean view. Kahana Sunset and is set on a secluded white sand beach overlooking Keonenui Bay. The 4 1/2 acre property includes lovely gardens, swimming pool and bbq areas.
Customer Listing Synopsis
|
|
Koa Resort 4-I
Kihei
$264.9K (FS)
|
|
Bank Owned. Tropically landscaped, this condo complex is located across the street from the ocean. 3 bd. 2 bath unit features travertine flooring, and carpeted bedrooms.
Customer Listing Synopsis
|
Residential Condos
Haleakala Gardens 10F
Kihei
$119.9K (FS) |
|
Bank Owned. Great opportunity for first time buyer or investor. Property needs a very little work.
Customer Listing Synopsis
|
|
Iao Parkside 39-103
Wailuku
$127.5K (FS)
|
|
Bank Owned. This unit is ready for immediate occupancy. It shows well and offers a private back yard with a covered lanai. There are 2 assigned parking stalls 320 and 345.
Customer Listing Synopsis
|
|
Milo Court #77
Wailuku
$347.99K (FS)
|
|
Special choose 1 of 3 Incentives (Appliance Package /$5000.00 Closing Credit /Landscaping) Outstanding Value for a brand new duplex style townhome here in Wailuku Town, provides you with an open floor plan which includes 3 bedrooms and 2.5 baths, 2 car garage, and privately fenced backyard.
Customer Listing Synopsis
|
Vacant Land
66 Lahaole Place
Wailuku
$250K (FS) |
|
Bank Owned. Enjoy spectacular ocean views from this magnificent setting in the gated Maluhia Country Ranches community. Just a short drive from Wailuku, Maluhia Country Ranches provides a lovely rural setting and a country feel.
Customer Listing Synopsis
|
|
