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Market Update
In October the number of Hawaii foreclosures plummeted 66% compared to October 2010. This according to Pacific Business News.
Hawaii foreclosures have been in free fall during the past several months since Act 48 (the new state law which changes the non-judicial foreclosure process) was passed in May 2011.
Meanwhile Hawaii's real estate high season is just around the corner. It will be interesting to see what effect the decrease in inventory combined with the demand of the high season has on the market.
One final point of interest: Interest rates fell to below 4% last week. It's starting to look a lot like the perfect storm, isn't it?
Have a wonderful week,
Greg, Melissa, Ken, and Jeremy
P.S. Take a look at the market watch below. See the -14 in the bottom right corner of the graph? A negative number marks a decrease in housing supply from the previous week. The market watch is a great tool to pay attention to each week. It is one of many tools we offer to help you to track movements in Maui's real estate market.
P.P.S. As promised last week, here's more information about the revised Government Mortgage Refinancing Program.
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
 
Market Watch for November 14th, 2011
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Active |
Pending |
Sold |
Change |
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Homes |
667 (265) |
218 (21) |
872 (114) |
+8 |
|
Condos |
980 (169) |
227 (8) |
1145 (104) |
-22 |
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Land |
511 (112) |
26 (7) |
132 (17) |
NC |
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Total |
2158 (546) |
471 (36) |
2149 (235) |
-14 |
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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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3124 Kihihi Street
Wailea
$1.649M (FS)
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Home has barely been lived in. Shows like new. Huge oversized garage that currently houses a 26 ft. SeaRay boat and a Dodge Durango. The boat and car comes with house.
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4366 Waiola Street Street
Wailea
$3.5M (FS)
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Panoramic ocean views from this beautiful Wailea Golf Vistas home. Sitting atop the 1st fairway of the Wailea Blue Golf Course. Molokini invites you to enjoy the islands beauty as you take in the dramatic & sweeping views throughout this home. The main level hosts over 3,000 sq. ft. of luxurious living to include a waterfall feature as you enter the home.
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Homes Under $1M
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111 Waiapo Place
Kihei
$379.9K (FS)
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Bank Owned. Home is set back towards the back of the project. Walking distance to the park for the complex. Nice dark wood floors for easy care. Granite countertops. Central AC and Solar.
Customer Listing Synopsis
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7 Lanipo Place
Kihei
$612.5K (FS) |
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Bank Owned. Great opportunity for first time buyer or investor. Own a spectacular home in the islands. Pool was re-plastered and ready to go. Property needs very little work.
Customer Listing Synopsis
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105 Kahana Nui Road
Kahana
$612.5K (FS) |
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Bank Owned. Come and see what the seller has done. The home has had major improvements and a price reduction. Custom built home has an open floor plan.
Customer Listing Synopsis
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170 Ponana Street
Kihei
$674.9K (FS)
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Bank Owned. Well kept home in one of the most desirable neighborhoods in South Maui right next to Wailea without Wailea pricing. Don't miss this opportunity to own this beautiful custom home that is walking distance to world famous Keawakapu Beach.
Customer Listing Synopsis
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Vacation Condo Over $1M
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Wailea Beach Villas PH207
Wailea
$2.395M (FS)
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A beautifully furnished 2 bedroom, 2 bath condominium with an office/den area. Kept in pristine condition, not in the rental program and very easy to show. Located above the main pool, with a vista view out to the ocean. Wailea Beach is a short walk down the path. The Shops at Wailea are just minutes away or walk next door to the Grand Wailea, or Four Seasons Resorts.
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Vacation Condos Under $1M
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Polynesian Shores #116
Honokowai
$324.5K (FS)
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Bank Owned. Ocean view, in an oceanfront complex makes this unit highly desirable. Top that off with vacation rental usage, and you have the perfect home away from home.
Customer Listing Synopsis
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Kapalua Golf Villas 23V1
Kapalua
$485K (FS)
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Stunning panoramic ocean and golf course views from this world class Kapalua resort villa situated at the highest point of the Kapalua Golf Villas. This corner veranda unit is easily accessible and guest car parks are available right at the bottom of the steps. Located in the heart of the Kapalua Resort and just minutes to the Kapalua Bay Course, the world-class golf course, beautiful beaches, spa, and epic surf spots, this condominium is perfect for vacationing and relaxing.
Customer Listing Synopsis
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Kihei Sands B5
Kihei
$499K (FS) |
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Maui's best kept secret, Kihei Sands. This tastefully remodeled and decorated 2 bed / 2 bath vacation condo will not disappoint you. Beautifully furnished, with vaulted ceiling allowing plenty of sunshine throughout, fully equipped kitchen & baths.
Customer Listing Synopsis
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Residential Condos
Haleakala Gardens 14H
Kihei
$149K (FS) |
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Short Sale. Spacious 3 bedroom walking distance to the beach. Recent renovations include laminate floors & kitchen. Abundant storage and high cathedral ceilings in kitchen, living rm & bedrooms. Two assigned parking stalls are just down the steps of this 2nd floor apt.
Customer Listing Synopsis
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Hokulani Golf Villas #16
Kihei
$899K (FS)
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The best of it all, single level living with the best in finishes and location. This brand new gated Hokulani Golf Villas Home offers all the benefits of a condominium but has the privacy of a single family home. Situated within the Elleair Golf Course on the majestic slopes of Haleakala, this 2 bedroom & den home has an incredible spacious plan with volume ceilings a huge lanai and 2 car garage.
Customer Listing Synopsis
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Wailea Point #3103
Wailea
$2.5M (FS) |
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A wonderfully spacious home - Wailea Point’s largest single-level floor plan (except "double" units) - with a level, no stair entry. Fabulous ocean & Polo Beach views. Lovely, open interior with the much preferred open kitchen.
Customer Listing Synopsis
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Vacant Land
56 E. Mahi Pua Place
Ka'anapali
$584K (FS) |
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This offering is the absolute best opportunity to purchase the largest half acre home site at nearly half the price as the other 6 lots that are currently available for sale in “The Pinnacle”, a gated community within the Ka'anapali Golf Estates Subdivision. There are only 33 home sites generously sized from 18,500 sq. ft. to 28,000 sq. ft. This is by far one of the nicest home sites in the Pinnacle.
Customer Listing Synopsis
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