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| Issue 339 | September 1st, 2009 |
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| Aloha ,
In this newsletter:
REO Properties
Short Sales |
Fit for a King!
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Market Update
There is no question that this has been a tough year for real estate on Maui. Here are some of the more relevant statistics.
For the period through the end of July, home sales declined 40% while the median price dropped by 13%. Condos sales were off by 32% and the median price was down 16%.
Click here for a thorough report and commentary by Real Estate Association of Maui Chief Executive Officer, Terry Tolman. There is also a link to a talk given to RAM members by Paul Brewbaker, former chief economist for Bank of Hawaii, about the Economic Aspects of the Great Recession.
During the last 2 months, we have definitely seen an increase in activity....especially in the low end of the market. If the trend continues, it will hopefully translate in to more sales in the middle and upper end of the market which is still rather stagnant.
Have a wonderful week!
Mahalo Nui Loa,
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
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Market Watch for August 31st, 2009
| Active | Pending | Sold | Change | |
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| Homes | 987 (403) | 154 (15) | 658 (92) | +7 |
| Condos | 1529 (277) | 146 (9) | 687 (148) | +13 |
| Land | 589 (177) | 42 (13) | 80 (29) | +1 |
| Total | 3105 (857) | 342 (37) | 1425 (269) | +21 |
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1. The numbers in parentheses reflect the number of listings over $1M |
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This immaculate home has wonderful ocean, island and mountain views. Every room boasts access to either the beautiful views or has it's own lanai. The custom floor plan maximizes the use of space and privacy with granite and travertine finishes used extensively throughout the home. The nicely landscaped back yard offers a secluded peaceful feel, with a pool, spa, and fountain. Virtual Tour |
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Large tropical 2 story ocean view plantation home and 35' breezeway to a one bedroom cottage amongst a very private and lush 2 acre estate with 5 car garages. Wrap around deck, gourmet kitchen with newer Jenn-Air stainless steel appliances, Corian counters, breakfast bar and cook top island, and master suite and deluxe master bath with double sinks and huge walk-in fit for a queen and a lanai overlooking Uaoa Bay. |
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Bank Owned. Handyman special single level home. Lowest priced home in West Maui. Located near the park, West Maui Youth Center, and the Aquatic Center. Minutes away from school, beach, Front Street, and Lahaina Town. |
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 70 Kamaiki Circle Kahului $675K (FS) |
Bank Owned. Large home in the gated community of The Bluffs at Maui Lani. 5 bd. 2.5 bath, 3000+ square foot interior, no major appliances. Centrally located, close to many amenities.
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Located in the highly desirable neighborhood of Ke Alii Kai, this 5 bedroom 3 bath home offers beautiful ocean and mountain views. Vaulted ceilings in the living room and kitchen, large lanai, granite countertops, maple cabinets, Pergo flooring, central A/C, and solar are just a few of the many wonderful features. Tropical backyard surrounded by a 6ft rock wall for privacy. |
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 800 Kekaulike Hwy Kula $939K (FS) |
Circa 1930 Classic Plantation home has been lovingly restored in keeping with the era. You won't find any granite or marble or plastic windows here. Instead, original Fir floors, divided light and leaded glass windows are complimented by Maple counter tops and traditional black and white tiles. Two field stone fireplaces, one in the master bedroom and one in the living room, warm the home (there's central heat also) at the 3,500 ft. elevation.
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Palms at Wailea #1201
Wailea $1.075M (FS) |
Occupying the ideal location in the Palms at Wailea, this spacious ground floor unit offers exceptionally wide ocean views from the living room, lanai and master suite, a rare feature at the Palms! With a desirable “inner circle” location, this unit also looks down an expanse of manicured lawn to the central “creek” and pond directly below the unit. |
 Aina Nalu K-203 Lahaina $316.15K (FS) |
Bank Owned. Bank wants this gone! In the heart of Lahaina town, upstairs unit, granite kitchen counter tops, slate tile in the bathrooms, all appliances, very nicely done.
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Bank Owned. Gorgeous views of the ocean from this unit, enjoy sunsets every evening. Lahaina Roads complex has in ground pool and a fantastic ocean view. Building has one elevator and conveniently located on the less congested side of Front Street. |
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 Menehune Shores #426 Kihei $499K (FS) |
Seller Financing. Great value for an oceanfront Menehune unit w/fabulous south facing ocean views. Marble bath, built in cabinets, and more. Incredible roof top barbecue & party area w/Maui 360 degrees views. Near end unit away from pool noise and walking traffic.
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 Wailea Ekolu #703 Waiklea $649.9K (FS) |
Short Sale. Great income potential in this 2 bedroom 2 bath Wailea Condo located in one of Wailea's most desired complexes.
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 Kihei Vilages 5--202 Kihei $138.9K (FS) |
Bank Owned. Upstairs unit in building 50, overlooking Uwapo Road. 2BD/1.5BA, carpet and linoleum flooring, clean unit. |
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 Waipuilani #206 Kihei $214.6K (FS) |
Bank Owned. Waipuilani Condominiums are the best kept secret in S. Maui. This oceanfront 42 unit complex has a pool, BBQ area, and public tennis courts. Grab your windsurfing gear and head for the white sandy beach out front. This 1.22 acre property has a green belt where you can relax and enjoy a picnic lunch with friends and family while you watch the whales in season. |
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 Hale Kanani 4-202 Kihei $324.5K (FS) |
This condo shows attention to detail with quality materials and workmanship. Unit has central air conditioning, roomy bedrooms and bathrooms, interior stacked washer/dryer, and large lanai w/ storage area. Great central Kihei location with short walk to shops & restaurants. Right across the street from Cove Beach Park and the famous Charley Young Beach. |
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 Villas at Kahana Ridge #234 Kihei $398.9K (FS) |
Bank Owned. 3 bedroom 2 bath with fabulous ocean views. Great opportunity for first time buyer or investor. Property needs a little work. |
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