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Market Update
According to Inman News, Fannie Mae and Freddie Mac announced last week that they will be implementing a new short sale timeline in June to accelerate the short sale process. They will expect the loan servicer to make a decision within 30 days. If the loan servicer needs more than 30 days to make a decision, they must give weekly updates and approve a short sale offer no later than 60 days after receiving an offer or the completed short sale package.
In 2011, the number of short sales that Freddie Mac completed had increased by 140% when compared to 2009.
A couple of weeks ago, Bank of America decided to make changes to their short sale timeline by shortening the time to make a decision on a short sale offer from 45 days or longer to only 20 days.
This is good news for buyers that don't want to play the waiting game of 4 to 6 months before hearing back from a seller's lienholder if they approve of their offer or not. Check out our links to all of the short sales available on Maui and let us know if you are interested in any of the properties.
Mahalo Nui Loa,
Greg, Melissa, Ken, and Jeremy
P.S. - If you are looking for a rental in the Haiku area, Greg has a remodeled 3 bedroom / 2 bath house that is available for $1,900 a month. He also has a newer 3 bedroom / 2 bath house on the Big Island in the Pahoa area available for $1,250 a month as well. You can reach Greg at 808-280-1414 or email us for more information.
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
Market Watch for April 23rd, 2011
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Active |
Pending |
Sold |
Change |
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Homes |
617 (270) |
225 (27) |
905 (125) |
-23 |
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Condos |
929 (175) |
269 (13) |
1159 (83) |
-12 |
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Land |
503 (115) |
34 (6) |
144 (18) |
+7 |
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Total |
2049 (560) |
528 (46) |
2208 (226) |
-28 |
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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
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92 Keoawa Street
Kapalua
$3.995M (FS)
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Architect Steve Lloyd and Maui Development Group will deliver a beautifully laid out and crafted single family home of 4,876 square feet of living space to lot #10 in phase one of Honolua Ridge. The home features five bedrooms, four and a half baths on a single level with additional features such as a study and home theatre. Transition from the open great room to a large covered deck featuring superb living spaces and world class views.
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127 Aleiki Place
Kuau
$3.9M (FS)
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Dramatic oceanfront location on Kuau Point overlooking world famous Hookipa beach where big wave surfing is a regular occurence. 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. Virtual Tour.
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Homes Under $1M
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105 Alahele Street
Kihei
$320K (FS)
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Bank Owned. Great layout for home and separate ohana in the rear. Large carport and covered areas including a 1/2 bath in carport area. Good central location.
Customer Listing Synopsis
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87 Oluea Street
Kihei
$332.9K (FS)
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Bank Owned. If cute and cozy is what you are looking for, look NO further. Here it is. Located within a fairly new community, this 2 bedroom 1 bath offers all the comforts of single family living with very minimum maintenance. Located across the street from the neighborhood park, one can enjoy the comforts of an extended yard without the costs of maintenance.
Customer Listing Synopsis
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216 S Papa Avenue
Kahului
$339.9K (FS)
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Bank Owned. Great opportunity in a prime Central Maui location. 2 dwellings on large lot being sold in as is condition. Older main dwelling in need of repairs, cottage looks to be in great shape.
Customer Listing Synopsis
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190 Malamahale Place
Kula
$479K (FS) |
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Your own piece of heaven. Come take a look at this unique and beautiful property. The real gem is the 3 acres that the multiple structures sit upon and the amazing view.
Customer Listing Synopsis
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594 Naalae Road
Kula
$519.9K (FS) |
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Bank Owned. Beautiful bi-coastal ocean views from this 4 bedroom / 3.5 bath home in Kula. The interior was recently repainted, new carpet installed, new stove, dishwasher, and microwave. The kitchen has been updated with new granite counter tops. This property has mature landscaping with lots of foliage.
Agent Listing Synopsis
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13 Paalae Place
Wailuku
$599K (FS) |
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Short Sale. Beautiful 4 bd. 4 bath ocean view family home in Koa at Kehalani Subdivision. Enjoy views of Kahului Harbor, Paia, Haleakala and Maalaea. Conveniently located near schools, hospital, government offices and shopping. Features include a large open kitchen/living/dining room, glassed in lanai, extra family/mother-in-law room, and lots of other family-friendly improvements.
Customer Listing Synopsis
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Vacation Condo Over $1M
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Polo Beach Club #507
Wailea
$2.349M (FS)
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Stunning views of the Pacific, West Maui Mountains and the Island of Lanai, this impeccably maintained 5th floor oceanfront unit offers everything that makes Polo Beach Club world famous. Located on the highly sought after north side of the building, you can relax with cool island breezes and enjoy the panoramic ocean views.
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Vacation Condos Under $1M
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Pacific Shores B-118
Kihei
$239.9K (FS)
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Short Sale. Ground floor unit at a remarkable price. Short term rentals now allowed. Two deeded parking stalls.
Customer Listing Synopsis
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Shores of Maui #225
Kihei
$313.9K (FS)
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Short Sale. Excellent Ocean views in the larger 1 bedroom unit, long term tenant in place.
Customer Listing Synopsis
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Grand Champions #103
Wailea
$384.9K (FS)
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Bank Owned. Price adjustment. Location, location, location! Near to everything: Shops at Wailea, Wailea Gateway, resorts, fine dining, golf, tennis and beaches. Enjoy the comfort of this spacious 1 bd. ground floor unit. The beautiful golf course fairway views are so breathtaking as seen from the living room, dining area and your lanai.
Customer Listing Synopsis
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Kapalua Golf Villas 24T5,6
Kapalua
$423.2K (FS)
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Bank Owned. This serene Kapalua Golf Villa is situated on a World Class golf course at Kapalua Bay. Enjoy outdoor entertainment with your choice of four swimming pools and BBQ areas. Dazzling panoramic views of the ocean and course from your private lanai. Minutes from beautiful beaches, snorkeling, relaxing spas, fine dining, shopping, and renowned surf breaks.
Customer Listing Synopsis
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Residential Condos
Iao Parkside 7-204
Wailuku
$124.9K (FS) |
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Bank Owned. 2 bd. 2 bath corner unit in popular town home complex in Central Maui. Close to community park, post office, restaurants, and shopping.
Customer Listing Synopsis
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Villas at Kenolio 13F
Kihei
$199.4K (FS) |
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Short Sale. Ground floor unit with large shady lanai and garden view. Just steps to Kalepolepo Beach Park and a short stroll to shops and dining. Villas at Kenolio is a friendly community with wonderful amenities including a beautiful pool, recreation center, work out room, playground, picnic and BBQ area.
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Hoonanea at Lahaina #508
Lahaina
$370.5K (FS) |
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In the heart of Lahaina. Walking distance to the beach, shopping centers, and historic Front St. Community is pet friendly. This townhome has a single car attached garage and an additional assigned parking stall.
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Vacant Land
0 Mokulele Highway
Kihei
$184.9K (FS) |
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Fairly level, all usable State - Agricultural zoned lot. County zoned - Open Zone. Property has been used for agricultural purposes for over 20 years. Property has a 1-1/2" water meter and access off of the old Mokulele Highway.
Customer Listing Synopsis
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