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Market Update
One thing that is clear in today's marketplace is the shifting landscape in how real estate purchases are financed. It's no secret that lending policies have tightened during the past several years. The result is an influx of all cash transactions.
So far this year on Maui: 64% of all condos, 28% of all homes, and 82% of all land transactions, have been cash transactions. That means collectively over 51% of all sales on Maui have been paid for without the use of a lending institution.
The lending industry's policies have an enormous impact on the growth and decline of real estate markets. We've witnessed this first hand during the past decade. Six years ago it seemed almost anyone could get a mortgage. Today it's a different story. The lending policy pendulum has swung in the other direction. Until we see lending policy find a "normalized" balance, we believe price growth will be somewhat limited.
That's not to say there aren't some great deals on Maui. One need not look very far to find a great opportunity. Our suggestion is that until lending policy loosens up a bit, we won't see the massive price leaps we saw during the 2000's.
Have a wonderful week!
Mahalo Nui Loa,
The Smith Team
P.S. Interested in learning more about cash buyers having the upper hand in the market place? Read the following article: Why a mortgage puts a home buyer at a disadvantage.
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
 
Market Watch for April 18th, 2011
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Active |
Pending |
Sold |
Change |
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Homes |
803 (309) |
249 (28) |
830 (94) |
-6 |
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Condos |
1143 (212) |
258 (20) |
1137 (126) |
-14 |
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Land |
526 (126) |
30 (6) |
123 (12) |
-3 |
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Total |
2472 (647) |
537 (54) |
2090 (232) |
-23 |
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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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64 W. Mahi Pua Place
Ka'anapali
$3.995M (FS)
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This superior golf-course fronting location in The Pinnacle, Ka'anapali Golf Estate's premier subdivision, offers 4,455 interior square feet of gracious living with exceptional ocean views and whale watching against a backdrop of the neighboring islands.
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40 Hale Alii Place
Wailea
$1.249M (FS) |
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Bank Owned. Extraordinary custom home with blue ocean views epitomizes the Wailea Resort life style. Just steps away from the beautiful Ulua and Mokapu Beaches, where diving and snorkeling are as bountiful as the shopping, dining and live entertainment in this remarkable community. Architectural design captures indoor and outdoor living at its best.
Customer Listing Synopsis
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Homes Under $1M
225 Hale Kai Street
Kihei
$287.3K (FS) |
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Bank Owned. Clean 3 bedroom, 1.5 bath Kihei home with very useable floor plan, and large, spacious 7000+ sq. ft. lot. A short drive to Kihei, Wailea, Wailuku, and Kahului make this home a great fit for the first time home buyer.
Agent Listing Synopsis
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241 Oluea Circle
Kihei
$390K (FS) |
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Bank Owned. Beautiful well maintained plantation style home in Kihei. You'll love this house, the prior owners were meticulous. Nice open floor plan with the master bedroom on the main level with a large bathroom and a soaking tub. Kitchen has upgraded cherry cabinets and corian counter tops.
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360 Aulike Street
Lahaina
$399.9K (FS)
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Bank Owned. Home offers creative living situations which may not be reflected on county records, so buyers must preview this asset to appreciate all that is being offered.
Customer Listing Synopsis
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3966 Mahinahina Street
Honokowai
$435K (FS)
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Bank Owned. Large ocean view 7 bedroom 4 bath home.
Customer Listing Synopsis
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Vacation Condo Over $1M
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Ho'olei D-5
Wailea
$2.75M (FS)
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Villa D-5 is located on the top row of the Ho'olei, representing one of the highest elevations on the entire property. Situated directly across from the Four Seasons and Grand Wailea Hotel Resort and Spa, Ho'olei truly represents the best Wailea has to offer! With dramatic panoramic ocean views clear out to Molokini and Lanai, Ho'olei 87-5 boasts 2426 sq. ft. of interior footage, making it one of the most spacious condominiums throughout the Wailea Resort.
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Vacation Condos Under $1M
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Kihei Alii Kai A-202
Kihei
$270K (FS)
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Beautiful unit located in the desirable "A" building of Kihei Alii Kai. Enjoy ocean views from the large lanai or take a short five minute walk to one of South Maui's best beaches, restaurants and shops. This fully remodeled, turn-key vacation rental unit includes solid hard wood floors and custom tile work throughout.
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International Colony Club 15
Ka'anapali
$360K (FS)
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Short Sale. This is the lowest priced 3 bed condo in West Maui that can be rented as a vacation rental. Large plantation style cottage with 2 baths. Washer and dryer included with the unit.
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Kapalua Bay Villas 17B4
Kapalua
$574.9K (FS)
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Bank Owned. Fabulous location and spacious floor plan. Offering wonderful ocean views.
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Residential Condos
Kihei Villages 57-101
Kihei
$118.7K (FS) |
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Bank Owned. This is a great ground floor unit with two parking stalls. Upgrades includes split system AC in living room and bedrooms, tile flooring, sprinkle system, upgraded cabinets, and new paint in living room.
Customer Listing Synopsis
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Iliahi at Kehalani 10C
Wailuku
$259.9K (FS)
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Bank Owned. This is a great opportunity to purchase a townhouse style condo in this newer complex perched on the hillside below Wailuku Heights with good ocean and mountain views from the upstairs bedrooms.
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Wailea Fairway Villas K-202
Wailea
$400K (FS)
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Bank Owned. Beautiful ocean and golf course views from this upstairs Wailea Fairway Villas unit.
Customer Listing Synopsis
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Vacant Land
627 Anapuni Loop
Ka'anapali
$345K (FS) |
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Bank Owned. Live the luxurious Lanikeha life in one of the most desirable communities in all of Maui.
Customer Listing Synopsis
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