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| Issue 378 | June 1st, 2010 |
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| Aloha ,
In this newsletter:
REO Properties
Short Sales |
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Market Update
The ultra luxury market is heating up. There have been 4 closed sales over $8 Million, and there is 1 Pending Sale at $11 Million so far this year. This equals all of the sales for 2009.
Furthermore, the average sales price in 2010 has been $15 Million; whereas it was $9.4 Million in 2009. Is this the harbinger of a new bull market in real estate? Hard to say from only a few sales; however, it certainly is one more indication that our market is in the early stages of a recovery.
The last upward cycle in real estate prices on Maui began in 1997 and peaked in May 2006. At that time, it was the return of confidence by wealthy investors that pulled the market out of the doldrums.
You can wait a year or two for confirmation of the new bull market in real estate; however, in our opinion, prices may be substantially higher at that time.
If you are you ready to buy now, please allow us to help you find the perfect property to meet your needs and suit your budget.
Have a wonderful week!
Mahalo Nui Loa,
The Smith Team
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
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Market Watch for May 31st, 2010
| Active | Pending | Sold | Change | |
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| Homes | 846 (346) | 240 (40) | 803 (105) | -12 |
| Condos | 1264 (222) | 267 (17) | 1029 (162) | +5 |
| Land | 564 (158) | 33 (7) | 131 (22) | -7 |
| Total | 2674 (726) | 540 (64) | 1963 (289) | -14 |
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1. The numbers in parentheses reflect the number of listings over $1M |
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Large Launiopoko residence with even larger views. Spectacular panorama of the islands of Lanai and Molokai and our famous West Maui sunsets. This 5 bedroom, 6 bath residence is situated on 2+ acres of land. Home design allows for residents to enjoy privacy of their quarters as well as gather on the lanais for morning sunrises and evening sunsets. |
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Enjoy the wonderful Wailea life style in the 4,000 sq. ft. Wailea Golf Vistas custom home. You will immediately feel at home as you enter the beautiful foyer with its 20 foot ceiling. Curved stairway and tiled floor. The main floor is ideal for entertainment and extremely flexible to meet your lifestyle. |
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This custom, Jeffrey Long designed Pineapple Hill Estates home, has maximum privacy due to it's location bordering a deep ravine, is one of the few that does not overlook rooftops and has a terrific ocean view. Huge corner pocket doors encourage the outdoors in and the open, spacious interior is ideal for entertaining. |
 117 Ani Street Kahului $350K (FS) |
Bank Owned. Improvements on the property are under renovation and new extension under construction and are in an incomplete status. Must see to see the potentials of the property. Property is centrally located in Kahului and in close proximity to health and medical facilities, shopping centers, schools, and dining facilities.
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Short Sale. Immense value in this Kula view home with an attached ohana to assist with affordability. This comfortable home has an expansive view of the North Shore and the West Maui Mountains. The living area and one bedroom are located upstairs while 2 ensuite bedrooms are downstairs with access to a large entertainment deck. |
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 610 S Alu Road Wailuku $602K (FS) |
Bank Owned. Single family home in Wailuku Heights. Main living area upstairs and bedrooms are downstairs. Great views of the ocean/ Kahului Harbor & Mount Haleakala.
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Private setting and great ocean-views from this gorgeous home with an incredibly flexible floor-plan and small separate studio on the golf course in a nice, quiet and established neighborhood. Artistically crafted with a master designer touch. This property feels like a breath of fresh air and offers warmth of character, rich colors and woodwork, charm, privacy and cool comfort. |
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Tucked away in its own private nook of Napili, Maluna Kai Estates is a peaceful and comfortable gated community of 10 free standing homes on 2 acres. Home #4 has beautiful ocean views and a wide open living space. From the upper lanai you can see it all. The residence has been extensively remodeled concluding in 2005. The kitchen is highly functional with European cabinetry and Gaggenau appliances. |
Ho'olei G-6
Wailea $2.495M (FS) |
Ho'olei G-6 is one of two very unique Hibiscus villas positioned directly over the pool area. This is the largest, and most highly sought after floor plan in the entire neighborhood, consisting of an expansive 3,076 feet of interior footage. With the covered lanai areas and attached garage, this villa is over 4,300 sq. ft. 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 home. |
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Bank Owned opportunity at Kihei Bay Surf. Features a nice view of tennis courts and the location at the back of the resort is more private. Kihei Bay Surf amenities include pool, spa, BBQ area, tennis, and laundry room. The monthly HOA fee includes electricity and water.
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Bank Owned. Direct oceanfront / ocean view unit in Kahana Reef.
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 Hale Hui Kai #205 Kihei $795K (FS) |
Hale Hui Kai is all about location, location, location. Situated on the renowned mile- long white, sandy beach of Keawakapu, you can enjoy swimming, snorkeling, paddle boarding, surfing and whale watching. This lovely 2bed/2bath updated unit is located on the 2nd floor, north side.
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 Walaka Maui #304 Kihei $240K (FS) |
Short Sale. Great View from this third floor condo. Includes granite countertop, nine foot ceilings and stainless appliances. Quick walk to Charlie Young beach and Cove beach park. |
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 Wailea Palms #3202 Wailea $1.05M (FS) |
Over 1,500 sq. ft. of luxury nestled in the exclusive residential complex Wailea Palms. This 2 bd. 3 bath unit offers great ocean views from the living room as well as both bedrooms. This wonderful condo offers a beautiful marble entry, full air conditioning throughout the entire unit, spacious living room with dining area, granite and stone countertops, a huge lanai off the living room plus each bedroom has its own private lanai. |
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Papali Wailea is a truly unique 24 single family home community of exceptional construction quality. This is a low density enclave situated on a terraced 10.466 acre site providing expansive views. The single-story, copper-roofed homes with attached private garages and storage rooms feature a spacious 3 bedroom, 3.5 bath floor plan, high volume ceilings, custom cabinetry, premium finishes, fixtures/hardware, and appliances. |
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