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Market Update
In national news, Fannie Mae expects home sales to rise 7% this year as the market recovers. According to Fannie Mae research, home prices will rise 1.3% in the next 12 months. See article.
According to Realtor Magazine, Lawrence Yun, NAR chief economist, said the housing recovery is underway. “It is no longer just the investors who are taking advantage of high affordability conditions. A return of normal home buying for occupancy is helping home sales across all price points, and now the recovery appears to be extending to home prices,” he said.
“The general downtrend in both listed and shadow inventory has shifted from a buyers’ market to one that is much more balanced, but in some areas it has become a seller’s market.” The existing home sales has increased in all regions in the U.S. In the western region alone, existing home sales increased 4.4% to an annual pace of 1.18 million in April and are 7.3% above April 2011. The median price in the West was $221,700, a surge of 15.9 percent from a year ago. See article.
In local news, the State Land Use Commission approves of a reclassification for 545 acres in Central Maui owned by A & B Properties to make way for Wai'ale Master Planned Community. This community will consist of the development of 2,250 homes, commercial areas, a middle school, public facilities and parks. The plan will set aside 33 acres for a burial and cultural preserve. See article.
Mahalo Nui Loa,
Greg, Melissa, Ken, and Jeremy
P.S. - If you are staying in Maui, visit one of our fine restaurants in Wailea for "Restaurant Week in Wailea" celebration. Sixteen of Wailea's best restaurants will have prefixed menus and prices from $29 to $49 a person. It ends on May 26th.
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
Market Watch for May 21st, 2011
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Active |
Pending |
Sold |
Change |
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Homes |
550 (248) |
267 (36) |
882 (116) |
-24 |
|
Condos |
872 (168) |
274 (9) |
1150 (77) |
-23 |
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Land |
482 (109) |
37 (5) |
142 (17) |
-14 |
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Total |
1904 (531) |
557 (53) |
2177 (210) |
-61 |
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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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322 S Ulukoa Place
Ka'anapali
$2.195M (FS)
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Located at the end of a quiet cul-de-sac within the exclusive gated community known as the Ka'anapali Golf Estates, this property is located on the 9th hole of the Kaanapali Royal Course. Year-round sunset views can be enjoyed from the spacious lanai or from the lap pool.
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40 / 60 Maud Place
Kula
$2.5M (FS)
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Peaceful and private country estate on 15.85 acres bordering 800 acres of private ranch land. Enjoy spectacular mountain and ocean views. Reminiscent of old Hawaii, this classic 1957 ranch home boasts over 3400 s.f. with formal living room, dining room, great room with vaulted ceilings & 2 fireplaces. Rolling lawns with mature trees enhance the Island Home and Cottage designed by renowned Hawaii Architect, Vladimir Ossipoff.
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Homes Under $1M
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244 Nakila Place
Wailuku
$185K (FS)
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Short Sale. This 3 bedroom 1.5 bath home in the heart of Wailuku town is perfect for a handyman looking to get a great deal. The garage was enclosed and presently used as a studio for potential rental income.
Customer Listing Synopsi
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1134 Nakui Street
Makawao
$198K (FS)
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Bank Owned. 3 bedroom 1 bath home close to Makawao town. Needs TLC. Some additions may have been done without permits.
Customer Listing Synopsis
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173 Inia Place
Kula
$543K (FS)
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Bank Owned. Incredible opportunity to own your own farm with income potential. Located in Kula and in the heart of the agricultural community this 2 acre property offers multiple homes and partial warehouse structures.
Customer Listing Synopsis
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361 Kulamanu Circle
Kula
$599K (FS) |
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Short Sale. Enjoy the beautiful bi-coastal ocean views and stunning Haleakala views from this light, bright and well maintained home. Four bedrooms with an open, spacious floor plan, this home has an elegant and cheerful feeling. A large covered deck with outside gas fireplace, covered ground level poolside patio, and beautiful bamboo flooring make this a wonderful and easy living indoor/outdoor home.
Customer Listing Synopsis
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300 Waiama Way
Haiku
$950K (FS) |
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Ideal location high on the east side of Waiama Way in Haiku Hill for a beautiful view overlooking sugar cane fields and ocean beyond. Slightly sloping all-usable fenced lot with a circular driveway. The home has stunning maple floors and gorgeous stairs and railing. Soaring vaulted ceiling in the living room. Some nice architectural details, KitchenAid appliances, attractive light fixtures and a security system are included.
Customer Listing Synopsis
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Vacation Condo Over $1M
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Makena Surf C-201
Makena
$2.349M (FS)
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Glass sliders on three sides open to 860 sq. ft. of covered lanais that wrap almost completely around this remarkably spacious apartment. With high ceilings and a dramatic floor plan, this unit is perfect for entertaining. Your door is only steps from one of Maui’s most beautiful beaches.
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Vacation Condos Under $1M
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Kihei Kai Nani #129
Kihei
$205K (FS)
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Bank Owned. This unit is steps away from the beautiful Kamaole Beach II, great shopping and fabulous restaurants. Amenities on site offer value to both homeowners and guests alike.
Customer Listing Synopsis
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Sugar Beach #504
Kihei
$299K (FS)
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Great opportunity located right on the world famous soft, warm, sandy, Sugar Beach. Tastefully decorated, fabulous views, this unit has it all. This complex offers fabulous amenities for vacationers and second home owners wanting all the comforts of home, located on the longest walking beach on Maui (4.5 miles) this beachfront resort offers heated pool, Jacuzzi, sauna, deluxe BBQ's , putting green, sandwich shop, and mini mart for spur of the moment supplies.
Customer Listing Synopsis
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Ka'anapali Shores #724
Ka'anapli
$370K (FS)
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Short Sale. Fabulous ocean and Molokai views from this beautifully remodeled unit. Granite counters in kitchen and bath, new appliances and cabinets to meet the Aston guidelines for vacation rental.
Customer Listing Synopsis
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Paki Maui #426
Honokowai
$475K (FS)
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Don't miss out on this popular 2/2 oceanfront vacation condo. Oceanfront, ocean view and right next door to the beach. Remodeled in 2008 with upscale finishes such as crown molding, granite counters, beautiful slate tiled floors, stainless steel appliances and more.
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Residential Condos
Puuone Terrace #404
Wailuku
$95K (FS) |
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Convenient Location and Fabulous Views. Puuone Terrace is a well cared for building.
Customer Listing Synopsis
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Hoolea Terrace #906
Wailuku
$203K (FS) |
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New Release. Offered to owner occupants for first 30 days from press release, until 6/12/12. Come visit our new multiple family neighborhood! Ho'ole'a Terrace is located on the slopes of the West Maui Mountains in Wailuku with beautiful ocean and mountain views. We offer a 2 bed/1.5 bath floor plan or a 3 bed/2 bath floor plan. Each building has Six 1-story units. There will be 29 buildings with a total of 174 units. Many of our units will have amazing ocean and harbor views.
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Kai Malu 2A
Wailea
$1.05M (FS) |
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Short Sale. Incredible ocean views from both levels of this immaculate home. Plus, a big greenbelt in front of the unit provides room for kids to play, and extra privacy. Unit 2A is located just steps away from Kai Malu's pool area, one of the most beautiful pools in Wailea. Kai Malu also has a great gym and hot tub overlooking the blue Pacific.
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Vacant Land
93 Keoawa Street
Kapalua
$885K (FS) |
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Amazing opportunity to own a magnificent piece of Kapalua. Lot 6 which rests in the first phase of Honolua Ridge offers commanding views of world famous Honolua Bay and the neighboring island of Molokai.
Customer Listing Synopsis
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