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Market Update
There is hope out there for those of you trying to refinance your mortgage to lower your interest rate and are unable to do so because it is not guaranteed by the federal government.
According to Inman News, Senator Jeff Merkley of Oregon has proposed a plan for underwater borrowers who owe more on their mortgages than their homes are worth to either lower their monthly payments or allow them to regain equity at a faster pace.
Borrowers would have to be current on their payments and meet basic underwriting criteria. This plan calls for establishing a Rebuilding American Homeownership Trust that is government backed to buy mortgages that meet the plan's standards from private lenders with revenue from government bonds sold to investors.
Treasury Security Timothy Geithner likes the design of this plan and has agreed to look into launching pilot programs to implement it. The National Association of Realtors show strong support for this plan as well. See article.
This refinance plan would target 8 million underwater borrowers. I personally know of several people that would be relieved if this plan could help them.
Mahalo Nui Loa,
Greg, Melissa, Ken, and Jeremy
P.S. – We had a great day at the beach this past Saturday celebrating my daughter, Kailani's 1st birthday. Below is a picture of Greg, Kailani, and myself at Launiopoko Beach Park in Lahaina.
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
Market Watch for July 30th, 2012
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Active |
Pending |
Sold |
Change |
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Homes |
526 (247) |
257 (21) |
894 (122) |
-5 |
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Condos |
795 (160) |
232 (10) |
1145 (73) |
-4 |
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Land |
427 (102) |
31 (4) |
139 (17) |
+5 |
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Total |
1748 (489) |
520 (35) |
2178 (212) |
-4 |
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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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212 Hakui Place
Ka'anapali
$1.89M (FS)
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Spectacular ocean / island views and quality defines this steel frame home. Large pocketing sliders open to spacious lanais enhancing the beautiful indoor / outdoor island lifestyle. The kitchen has rain forest granite counters and Wenge wood cabinetry. The home has a crisp contemporary design with exceptional attention to detail and clean lines. This canter levered structure has a monolithic concrete second floor with no exterior columns to impair the panoramic ocean view.
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1563 Kekaulike Avenue
Kula
$3.495M (FS)
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Private, executive, luxury home located on a private road enjoys sweeping bi-coastal views. The 2.7 acre parcel provides plenty of room for a guest cottage, art studio or barn building. The home features quality construction from the exterior to the dramatic interior; glaze tile roof, stucco over 2x6 construction, dual paned windows, 14’ ceilings, custom cabinetry, extensive use of stone work (granite, marble and travertine) and glass tiles, 2 fireplaces and radiant heat.
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Homes Under $1M
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17 Maha Road #10
Makawao
$183K (FS)
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Short Sale. One of the newer homes in Na Hale O Kilinahe built in 2008. It's a 2 bedroom, 1 bath floor plan with a 2-car carport and underground utilities.
Customer Listing Synopsis
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637 Ukali Street
Wailuku
$259K (FS)
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Bank Owned. Large hallow tile home with separate cottage located in Pakakalo.
Customer Listing Synopsis
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138 E. Lipoa Street
Kihei
$339K (FS)
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This cute house sits adjacent to a lovely park area in Central Kihei. The house has three bedrooms and lots of living space inside. Many upgrades have been done by the current owner, too many to list.
Customer Listing Synopsis
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332 Hiolani Street
Pukalani
$419K (FS) |
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Short Sale. Dynamic rental property on a large, nicely landscaped lot with a spacious backyard. The main house has 4 bedrooms and 3 baths, along with an additional 2 bedroom, 1 bath attached ohana. The home is on the "view" side of Hiolani Street, with bi-coastal ocean views.
Customer Listing Synopsis
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19 Kenoeloa Street
Wailuku
$574.9K (FS) |
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Bank Owned. This custom bank owned home borders the golf course in a recently established gated community within Maui Lani. Many value added touches were put into this property, such as granite countertops, central vac system, soft close drawers, gas range, double pane tinted windows and much more.
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11 Ka Drive
Kula
$599K (FS) |
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Located at the entrance to Kula Kai subdivision this 2-Story home has 5 bedrooms and 3.5 bathrooms. The layout features a living room kitchen, family room, 3 bedrooms with 2 full bathrooms downstairs and 2 bedrooms and 1.5 bathrooms upstairs. It has ocean and mountain views with bright and vaulted ceilings. The home features bamboo flooring, granite countertops in the kitchen and a fireplace in the living area.
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Vacation Condo Over $1M
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Ho'olei T-3
Wailea
$2.275M (FS)
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Relax with the comfort and ability to "lock and go" while at the same time enjoy the comforts of a condominium designed to feel like a stand alone residence. Villa T-3 has a very convenient location on the property, located with a very close proximity to the pool and pavilion area. Interior appointments include a private elevator, a gourmet Studio Snaidero kitchen with Wolf and Sub Zero appliances abundant.
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Vacation Condos Under $1M
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Kihei Sands A-4
Kihei
$224.9K (FS)
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Bank Owned. Complex is direct oceanfront on Sugar Beach, a beautiful white sandy beach, great swimming, amenities, pool, BBQ's and many other amenities on site. Unit A4 is tastefully upgraded, granite counter tops in kitchen, and tiled bathroom.
Customer Listing Synopsis
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Kapalua Ridge #1812
Kapalua
$499.9K (FS)
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Bank Owned. 1 bedroom 2 bath, 1,125 sq. ft. condo is sold fully furnished for you to move in or rent out as a vacation rental. It sits next to the seventh hole on the eighth fairway of the famous Kapalua Bay Golf Course. From the 229 square foot lanai you can watch golfers play and be part of the gallery, or just soak in mountain and ocean views.
Customer Listing Synopsis
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Wailea Ekolu #1003
Wailea
$625K (FS)
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This wonderful 1 bedroom unit has a great ocean view and is wonderfully upgraded. Kitchen features beautiful upgrades and both baths have all new tile and fixtures. Well situated in the complex between both pools and just a short walk to shopping and restaurants.
Customer Listing Synopsis
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Residential Condos
Kihei Shores D-101
Kihei
$135K (FS) |
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Short Sale. Ground Floor 2 bedroom, 2 bath at Kihei Shores situated across the road from Kamaole Beach Park III. Corner unit on the green belt!. Wood laminate flooring, Complex has a pool and spa, on site security great location in South Maui, minutes to Wailea Resort and in walking distance to shops, dining, parks, and more.
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Boardwalk G
Kihei
$259K (FS) |
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Stylish, contemporary condo shows pride of ownership in tasteful remodel. Boutique property, 10 total units, on wonderful Halama Street. Beach access 50 feet from the property. Desirable second story unit with massive deck off bedroom. Two-story floor plan with extremely efficient use of interior space and an incredible amount of storage.
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Wailea Point #204
Wailea
$4.6M (FS) |
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Oceanfront 3 bedroom upstairs unit exquisitely located on the front row of Wailea Point in Phase I. Walk to the Four Seasons for breakfast, lunch or dinner. This unit only had one owner! It's extremely private. Landscaping on the south side of the lanai makes you feel like you're alone with the ocean - just like being on a ship.
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Vacant Land
93 Laha'ole Place
Wailuku
$224.9K (FS) |
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Superior views loot 21 is a 2.751 acre parcel located near the top of Laha'ole Place with magnificent ocean, harbor, North Shore and Haleakala views. Since this lot is not condominiumized, you have the right to build a main house (minimum 1750 sq. ft.), an ohana (between 500 and 1000 sq ft), a barn and a detached garage if you so desire. No water meter installation fees. Seller financing is available to qualified Buyers.
Customer Listing Synopsis
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