|
Aloha ,
Market Update
During the last 12 to 24 months, investors have been buying almost every low end listing of homes and condos that hit the market. Prices in some cases have moved up by 100% on some of the most distressed condo properties.
Do you feel like you missed the boat? We don't believe so; although, certainly prices will not continue to rise as swiftly for this particular class of assets in the next few years.
There is, however, one group of properties that is now catching the attention of investors because of the huge upside potential. Luxury homes and condos are not typically sold on the basis of affordability, but rather on the basis of supply and demand.
I believe the best returns in the next several years will come from buying distressed luxury properties that need renovation or completion. You can also build a new luxury home, and assuming you have the right builder, there should be plenty of equity left when you are done.
Apparently, I am not the only one who feels this way. Read "Investors Place Their Bets on Luxury Homes". Send me an email if you are interested in finding out how you can profit by building or buying luxury homes.
Have a wonderful week.
Mahalo Nui Loa,
Ken for The Smith Team
P.S. If you are here on Maui, I highly recommend seeing one of the performances of Les Miserables at the MACC. We have so much great talent here on Maui!
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
Market Watch for August 12th , 2013
|
|
Active
|
Pending
|
Sold
|
Change
|
|
Homes
|
479 (259)
|
244 (38)
|
1006 (135)
|
-2
|
|
Condos
|
639 (158)
|
282 (22)
|
1282 (135)
|
-10 |
|
Land
|
345 (110)
|
65 (6)
|
199 (28)
|
-3
|
|
Total
|
1463 (527)
|
591 (66)
|
2487 (298)
|
-15
|
|
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.
|
|
Homes Over $1M
69 Pukolu Way
Wailea
$1.12M (FS)
|
Wonderful 4 bedroom, 2.5 bath home nestled at the top of the private and gated, Wailea Kai subdivision. This lovely home remodeled in 2004, is situated on a small cul-de-sac, where the trade winds gently flow through the indoor/outdoor living space. Views of plumeria, hibiscus and other tropical flora greet you as you enter the home, you truly get a sense of space as you enter.
|
100 Oheala Place
Makawao
$1.695M (FS)
|
This family home is in a gated community was designed around a very private yard which flows into a park like setting adjoining A&B property with a tree house for the kids. Water fall with many fruit trees and palms and a great place for the veggies, animals, pets or in laws. Check out the awesome video and make your family memories here.
|
|
Homes Under $1M
|
244 Nakila Place
Wailuku
$185K (FS)
|
Bank Owned. 2 bd. 1.5 bath cottage conveniently located in Wailuku close to hospital, clinics, harbor, airport, shopping, etc. Nice level lot with fruit trees and ample parking.
|
1148 Aala Place
Makawao
$540K (FS)
|
House and Cottage in desirable Makawao neighborhood with just a short walk to Makawao Town. This 3-bedroom, 2-bath home has granite counters, tile floors, stainless steel appliances with a master bedroom that has a large walk-in closet and bath. Yard is fenced and plenty of parking and storage with a 2-car garage and a covered carport.
|
430 Kukuna Road
Haiku
$550K (FS)
|
Bank Owned. Located at the very end of Kukuna Rd. Ocean views and plenty of room.
|
120 & 118 Waipalani Road
Haiku
$729.5K (FS)
|
Beautiful tropical park-like 2.46 acres sets the stage for this private, quiet, charming 2-story Cedar/Redwood home in Maui Ranch Estates. Large wood windows throughout brings the outside in making this home bright and airy. The main house has recently been remodeled with a chic new kitchen and esthetically pleasing baths. Large bonus room on main floor is perfect for family entertaining. Move right in, enjoy the yard and plant your garden! The newly painted 2-bedroom, 2-full bath detached cottage has it's own palm lined driveway making it feel like it is on a separate property.
|
1242 Ehu Road
Olinda
$895K (FS)
|
Equestrian’s country ranch estate. Fabulous almost totally level acreage is nicely fenced with several pastures and easy access to a large barn in Olinda secluded countryside. This beautiful home has been renovated with tender loving care. The wood floors throughout most of this home enhance the impressions as you enter a huge living room with fireplace.
|
Vacation Condos Over $1M
Polo Beach Club #708
Makena
$2.38M (FS)
|
Polo offers so much that is unique and incomparable. Here stands a sturdy, enduring building, mere steps from the sandy shore. Every one of the two bedroom, two bath units features lovely ocean views and lanais you can live on.
|
Vacation Condos Under $1M
Kihei Garden Estates A103
Kihei
$289K (FS)
|
A rare offering at Kihei Garden Estates. This ground floor unit is located close to the swimming pool and across the street from the beach. Very nicely remodeled including bamboo and tile flooring, granite counter tops, built in cabinets for additional storage and LG stainless steel appliances.
|
Kamaole Sands 8-306
Kihei
$359K (FS)
|
Gaze at the mighty blue Pacific from your third story lanai. Mirrored living room wall brings in plenty of light and spacious feel. 100% tiled throughout! Enjoy this popular air conditioned vacation rental which sleeps 4 adults. Unit exudes the tropical beach feel and complex boasts such amenities as pool, hot tub, fitness center, tennis courts all while being directly across the street from the beach.
|
Hana Kai Maui #206
Hana
$475K (FS)
|
Come drench your senses amidst stunning views of gorgeous Hana Bay and relax to the constant sounds of lapping waves in lovely Hana Kai 206. This unique lofted romantic suite has stunning panoramic views overlooking beautiful Hana Bay. Hana Kai 206 is gorgeously appointed with sapphire blue granite, local art work, natural 18 inch Travertine floors and shower, natural stone sink, glass top stove, dishwasher, high quality small appliances, solid bamboo floors, comfortable furniture and a king sized select comfort bed.
|
Residential Condos
Kihei Villages 60-106
Kihei
$209K (FS)
|
Preferred ground floor corner unit with large grassy back yard. Great view of open field across the street plus West Maui Mountains view. Perfect north-facing orientation to enjoy cool trade winds. Convenient beach access via a sidewalk next to the entry gate to your private yard.
|
|
Napilihau Villages 7-101
Napili
$310K (FS)
|
Kapalua & Wailea Style & Decor at an attainable price. This owner/interior designer would not settle for less & thus pulled out all the stops. Gorgeous engineered cherry wood floors, smooth ceilings throughout, recessed halogen custom art lighting, updated electric & plumbing, & woven raffia blinds plus silk drapes are just the tip of the iceberg.
|
Vacant Land
29 Papuhau Place
Wailuku
$245K (FS)
|
Fantastic Koa at Kehalani neighborhood. Gated subdivision of custom homes with amazing views. Great climate. Convenient location.
|
|
