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Aloha ,
Market Update
According to an article from The Washington Post, the Obama administration is pushing banks to making more home loans available to people with weaker credit to help with the economic recovery. They want to help first time home buyers and individuals with weaker credit due to the recession. The Obama administration wants the banks to take advantage of taxpayer-backed programs like the Federal Housing Administration.
The administration is also seeking to make it easier for people who owe more than what their properties are worth to refinance at today's low interest rates.
Interestingly, I received a letter from my bank stating that I qualify for an interest rate reduction due to the help of the government. I always pay my mortgage on time and although we are in a transitional market, my house is still worth a little less than what I owe.
I foresee that it will be worth more within the next year or so. Right now my loan is being reviewed by my bank's underwriting department and I'll let you know how it goes. If your mortgage is at a higher interest rate than today's rates, I would encourage you to contact your bank directly and see if you qualify for an interest rate reduction.
Have a wonderful week.
Mahalo Nui Loa,
Melissa for The Smith Team
P.S. - Although sales were down in most areas across the country last month; prices are still trending higher. The slowdown in sales is not due to lack of demand, but rather because of limited supply. Read More.
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
Market Watch for April 22nd , 2013
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Active
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Pending
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Sold
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Change
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Homes
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485 (283)
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252 (35)
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936 (125)
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-20
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Condos
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727 (185)
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331 (23)
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1222 (112)
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-8 |
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Land
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380 (104)
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41 (5)
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181 (22)
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-2
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Total
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1592 (572)
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624 (63)
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2349 (259)
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-30
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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
3403 Hookipa Place
Kihei
$1.998M (FS)
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Impeccable down to the last detail. The owner’s vision & execution in the design, construction, & interior materials of this residence leave little left to be desired. This is a Maui Meadows Eco-Sensitive Dream Home. This end of the cul-de sac setting offers solitude & Panoramic Ocean, Outer Island, & West Maui views second to few, if any.
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75 Opalipali Place
Kula
$3M (FS)
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Trophy home in Kula Meadows gated community on 5.4 Acres. This is a brand new construction never before occupied absolutely stunning in a ridiculously amazing setting and awesome weather location. Bi-Coastal ocean views, maximum quality of construction in a make sense indoor/ outdoor island layout.
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122 Pua Niu Way
Launiupoko
$3.195M (FS)
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Bankruptcy Sale. Fabulous three island views from this top quality custom home right out side of Lahaina town on the island of Maui. This large home features unobstructed ocean views with perfect sunsets, whale watching and surfing views right out front. A large pool and waterfall grace the out door entertainment area with wonderful tiki style bar and torches. Extensive landscaping with many types of fruit trees enhance the beauty and tropical feel of this property.
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Homes Under $1M
148 Hoomoku Street
Kahului
$229.9K (FS)
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Short Sale. Perfect starter home located near schools and public transportation. The home offers flexible living options, private lanai and requires no yard maintenance.
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901 Kaili Place
Lahaina
$250K (FS)
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Plantation house above the former Pioneer Mill site in walking distance to Lahaina town.
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3584 Kalua Place
Makawao
$275K (FS)
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Short Sale. Great location for a single family home, "fixer-upper". Located in Makawao town within walking distance to schools, shops, and restaurants. This home is located on a corner lot. There is two bedrooms and one bathroom on one side of the house and one bedroom and one bathroom on the other side of the house.
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811 Upper Ulumalu Road
Haiku
$598K (FS)
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Short Sale. Outstanding value opportunity. Two properties being sold together. One consists of approximately 2.7 acres of land and a 2 bedroom, 1 bath home. The second property consists of approximately 2.49 acres of land with a 3/4" water meter. Beautiful, lush properties with privacy, peace and quite.
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3526 Akala Drive
Kihei
$750K (FS)
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Don't miss your opportunity to add your finishing touches to this large 5720 sf home on the quiet end of Akala Drive. The home has many large lanais to entertain and/or get away to enjoy your own quiet area and the spectaculur views. Enjoy breakfast on the lanai as you watch the whales perform for you or let the sun setting into the ocean captivate you as you barbecue dinner.
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75 Kahana Nui Road
Kahana
$799K (FS)
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Highly upgraded, ocean view home in Kahana Ridge. Meticulously maintained with many custom touches including exceptional granite countertops, bamboo/tile flooring and top of the line appliances. Reverse floor plan with plenty of room for your family and guests. Great corner location across the street from the park with easy access to the highway. Minutes to shopping, beaches, golf and all West Maui resorts. Panoramic ocean vistas to Molokai with year round sunsets.
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Vacation Condos Over $1M
Kapalua Bay Villas 34B1,2
Kapalua
$1.299M (FS)
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Bank Owned. One of the best locations at Kapalua Bay Villas. Bridge level loft with two enclosed lanais. Panoramic ocean views from this spectacular villa. Complex amenities include 3 pools, tennis courts, walking trails and much much more.
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Vacation Condos Under $1M
Kihei Bay Surf #112
Kihei
$169K (FS)
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Check out this great beach town location. Unit is furnished, and right across the street from the ocean. There is even a peekaboo ocean view from the covered Lanai. Kihei Bay Surf sits on approx. 2.84 acres, and features 118 studio units. Amenities include a beautiful pool and Jacuzzi, BBQ area with tables, tennis courts, and a community laundry room. Electric is included in the monthly HOA dues.
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Kihei Akahi D-204
Kihei
$369K (FS)
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Top to bottom remodel, gorgeous Wailea remodel - bamboo floors, granite counter tops, top of the line appliances with gas cooktop, new cabinets, new bathroom with a stunning efficient layout. You won't see anything like this in Kihei Akahi that can compare. Located in quiet "D" Building with good ocean views.
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Paki Maui #426
Honokowai
$397.9K (FS)
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Remodeled to floor two bedroom unit with a partial ocean view. Paki Maui is a direct ocean front condominium community located between Ka'anapali and Napili. Upgrades include granite counter tops, slate tile floor and stainless steel appliances.
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Residential Condos
Maui Gardens A-207
Kihei
$169.9K (FS)
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Bank Owned. The covered lanai has been enclosed to add additional living space. Very easy to show on short notice. This complex offets an in ground pool, tennis courts and recreation features.
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Gardens Upcountry #16
Pukalani
$410K (FS)
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Estate Sale. The Gardens Upcountry is a small, well maintained, development tucked away in Upcountry Maui. It is conveniently located within walking distance to the bank, restaurants and shopping. This luxury townhouse feels like a home with its soaring ceilings and open, spacious, floor plan with many windows and skylights offering lots of natural light.
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Kanani Wailea #3
Wailea
$845.9K (FS)
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Bank Owned. This is an excellent opportunity to own in prestigious Kanani Wailea. This home features a front row location with views of Molokini to West Maui. Superior design and construction including steel framing, Monier tile roofing, dual-glazed windows, 9 ft ceilings, ceramic tile, Wolf stainless appliances, granite countertops and coffered ceilings.
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Vacant Land
0 E Huapala Place
Launiupoko
$895K (FS)
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Sitting high on the West Maui Mountains, the views from this property are unparalleled. Enjoy panoramic ocean and island views of Lana'i, Kaho'olawe and Moloka'i and look down over historic Lahaina town. This private lot is partially bordered by a gulch and stretches up the West Maui Mountains all the way to the forest reserve.
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