In this newsletter:
Market Update
Market Watch
Homes Over $1 Million
Homes Under $1 Million
Vacation Condo Over $1M
Vacation Condos Under $1M
Residential Condos
Vacant Land

  REO

All Properties
New  Properties
Price Reductions

Short Sales

Homes
Condos
Land
New Properties
Price Reductions

Market Update

Last week we reminded you to put your focus on the things you want.  How did that exercise work for you?

This week we'd like to draw your attention to a principle known as the tipping point.  If you've read Malcolm Gladwell's New York Times Best Seller, The Tipping Point, then you are familiar with the principle.  If you haven't read the book, here's a short explanation   taken from Gladwell's website: " is a book about change. In particular, it's a book that presents a new way of understanding why change so often happens as quickly and as unexpectedly as it does.  The Tipping Point is an examination of the social epidemics that surround us."

How is this relevant?  In short, we believe a tipping point is silently taking place in Maui's Real Estate Market.  Why would we say such a thing?  After all, the counter argument is pretty strong, isn't it?  Foreclosures, an economy on the brink, unemployment numbers up—the list goes on and on, right? 

Behind the veil Maui is being bought by those who recognize a bargain.  Let's take Southpointe for example.  Southpointe is a residential condo complex in North Kihei that five years ago was selling for up to $300k.  Today condos at Southpointe are selling for $115k to $150k.  Nine months ago there were over 20 units for sale.  Today there are three condos showing active (available) and another seven pending.  Southpointe is not the exception.  We're seeing inventory levels continually decrease.  And when inventory decreases enough, prices go up.

One last thing to note is the low end of the market is not the only segment of the market where inventory levels are decreasing.  The high end is selling too. Last month this home sold for 27 million dollars—the highest priced home sale ever recorded on Maui.

As a reminder: Focus on what you want.  It might be a lot closer than you think.  It might even be a phone call away.  We're here to help.

Have a wonderful week,

The Smith Team

P.S. Act 48, Hawaii's newest foreclosure law, has certainly had an impact on decreasing home and condo inventory.  Bank-owned properties being added to the market are slowing considerably and we believe will continue to do so over the next 6 to 12 months.

Market Watch for August 29th, 2011

Homes Over $1M

Homes Under $1M

1667 S Kihei Road C Kihei $240K (FS)		Short Sale. Rarely available. Sleepy Hollow is a quaint community of 11 like homes set in a secluded area behind the New Baptist Church. A one way lane goes to this very quiet community where you will find this lovely 3 bedroom home. There is a large enclosed lanai where you can enjoy your meals or just a great place to sit and read. Customer Listing Synopsis
40 Pulehuiki Road Kula $309.9K (FS)		Bank Owned. 3 bedroom 1.5 bath home with ocean views. Un-permitted additions cited by the County for removal. Customer Listing Synopsis
24 Apaa Place Kahului $426.8K (FS)		Bank Owned. Small ocean views, spacious 4 bedroom home. Close to Maui Waena school and Maui Memorial Medical Center. Customer Listing Synopsis
161 Uakoko Place Haiku $554.4K (FS)		Bank Owned. Spacious home with large wraparound lanai, located on two acres of prime property in Haiku. Many possibilities with this two story including adding your own flavor and finishing touches to what is already near completion. Customer Listing Synopsis
8061 Hana Highway Haiku $669.9K (FS)		Bank Owned. This home plus 2 cottages are located pass Twin Falls at the 5 1/2 mile marker, on the corner of Hana Hwy and Haunaunu Rd. Beautiful ocean views from this 1.74 acre property. Zoned agriculture. Main house needs some work to restore it to its original form. Cottages have a rustic charm to them and are scattered throughout the tropical vegetation. Customer Listing Synopsis

Vacation Condo Over $1M

Polo Beach Club #109 Wailea $1.695M (FS)

Short Sale. Wailea's best opportunity. Best priced ocean front condo in Wailea. It offers the Wailea lifestyle at its absolute best on one of the worlds best beaches. This is an upgraded direct ocean view unit with the best floor plan that offers a 2nd lanai. Customer Listing Synopsis

Vacation Condos Under $1M

Residential Condos

Kihei Shores H-101 Kihei $187.7K (FS)		For the buyer who wants move-in ready and luxury style at an affordable budget. This 2 bd. 1 bath unit is the ONE. We all know how much effort, patience, time and money it takes to renovate a dated property, so save yourself the frustration and check this condo out. Customer Listing Synopsis
Villas at Kahana Ridge #221 Kahana $209.4K (FS)		Bank Owned. Clean unit with ocean views at Villas at Kahana Ridge. This end unit gives extra windows and light. Villas at Kahana Ridge is centrally located in Kahana; walking distance to beaches, shops and restaurants. Customer Listing Synopsis
Kai Malu 60A Wailea $1.1M (FS)		Bank Owned. Property is located in the Wailea Resort gated community of Mai Malu and is situated in the uppersoutheast portion of the project. This townhome has oceanview and sits along a Wailea Blue Golf Course fairway. This unit is a 3 bedroom 2.5 bath unit with the master bedroom on the first level with a deep jaccuzzi in the master bath. Customer Listing Synopsis

Vacant Land

29 Papuhau Place Wailuku $220K (FS)

Bank Owned. Koa at Kehalani is a new subdivision of custom homes located above Wailuku below Wailuku Heights on the prestigious hillside. Stunning dramatic mountain views and cool breezes are enjoyed from this ready to build lot. There may be ocean views possible from a second story home. Customer Listing Synopsis