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The Smith Team - Two Generations of Satisfied Customers

  Issue 355 December, 22th, 2009 
     
Aloha ,

In this newsletter:
Market Update
Market Watch
Homes Over $1 Million
Homes Under $1 Million
Vacation
Condos Over $1M
Vacation Condos Under $1M
Residential Condos
Vacant Land

  REO Properties
All  Properties

New Properties
Price Reductions

 Short Sales
All Properties
New Properties
Price Reductions

 

   

Market Update 

Looking at overall market statistics for either the U.S. as a whole or for individual states, it is becoming increasingly evident that the market has found its bottom, and is in the very early stages of recovery.

Take a look at the Federal Housing Finance Agency website where they compare Hawaii, California, and Washington prices on a quarter by quarter basis with previous year's figures.  You can see that prices showed a dramatic improvement in the latest quarter.

In fact, California, which was hit the hardest actually bottomed out in the 3rd quarter of 2008, whereas Hawaii, reached bottom in the 2nd quarter of 2009.  This is the normal pattern where Hawaii lags about 6 months behind California.

An additional impetus to price stabilization and improvement has been the extremely low interest rates.  One of the reasons why interest rates have been so low is due to the Feds purchase of Mortgage Backed Securities.  This program is ending in March 2010, so we expect that interest rates will most likely climb to the 6 to 7% range. 

We want to wish you all a very Merry Christmas and a Happy Chanukah.

Have a wonderful week!

Mahalo Nui Loa,

The Smith Team
 
P.S. Are you looking for development opportunities?  We have projects where we are looking for investors in the $3 to 100 Million range.  Contact us if you are interested in learning more about some of the incredible opportunities available on Maui today.  Five years from now, you'll be very happy if you act now.  This goes for any purchases that are made today.  We are in the very early stages of a bull market for Maui real estate.

Smith Team Photo on Website.jpg

Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)

 

Market Watch for December, 21st, 2009

 Active Pending Sold Change
Homes  880   (372)  226  (25)  650  (91) -2
Condos 1367  (249) 218 (9)
 801  (150) -3
Land  535  (160)  43 (9)   103  (29)   -17
Total 2782 (781)  487  (43)  1554  (270) -22

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

8 Hui Road E.jpg
8 Hui Road E
  Napili

$5.2M (FS)

 

Hale Anuenue, “House of Rainbows” is the ultimate in elegant oceanfront lifestyle. This newly finished masterpiece is literally one of a kind. The timeless architecture and meticulous attention to detail envelope this secluded slice of Hawaiiana.

Customer Listing Synopsis

Homes Under $1M

320 Kulalani Drive.jpg
  320 Kulalani Drive
Kula

$319.9K (FS)
 

Bank Owned. Upper Kula home with ocean views and decks for entertaining. Two story home features 2 bd. 2 baths and 1 car garage.

 

503 Kekoanui Place.jpg
  503 Kekoanui place
Haiku

$399.9K (FS)
 

Bank Owned. Roomy Balinese style home with squash court and ag office. Lots of windows plus skylight. Many custom features.

 

5 Iris Place.jpg
  5 Iris Place
Kahana

$651.8K (FS)
 

Bank Owned. Open and spacious 4 bd. 2 bath single level home in Kahana Ridge. Upgrades include laminate flooring and new paint in the interior and garage.

 

Vacation Condos Over $1M

Puamana 160 4.jpg
Puamana 160-4
Lahaina
$2.595M (FS)
 

Spectacular oceanfront 2 bd. 2 baths at Puamana. Large great room (living room, dining area, kitchen, & bar counter). 28' wide covered oceanfront lanai with views of Lanai' and Kaho'olawe.

Customer Listing Synopsis

Vacation Condos Under $1M

Maalaea Yacht Marina 205.jpg
Maalaea Yacht Marina #205
Maalaea
$174.9K (LH)

 

Short Sale. Terrific deal for ocean front (LH) condo. Great location in complex with excellent ocean views.

  Agent Listing Synopsis

Lauloa 202.jpg
Lauloa #202
Maalaea
$220K (LH)

 

Short Sale. Bank approved at list price. Lauloa is an ocean front heaven watch the whales frolic and play after a hard day at work.

  Customer Listing Synopsis

Genric Pic.jpg
Maui Vista #1104
Kihei
$225K (FS)

 

Short Sale. Great location for this 1 bd.  1 bath ground floor unit at Maui Vista. It is located at the quiet end of Building 1 and within walking distance to Charley Young Beach.

Agent Listing Synopsis

Mana Kai 204.jpg
Mana Kai #204
Kihei
$997K (FS)

 

The Mana Kai is one of the best ocean and beach front complexes in South Kihei. By taking just a few steps away from your condo, you will be on a 1 mile stretch of warm sandy beach...one of Maui's most beautiful swimming areas. This unit offers exceptional ocean views from both bedrooms.

  Customer Listing Synopsis

Residential Condos

Puuone Terrace 408.jpg
Puuone Terrace #408
Wailuku
$129K (FS)
 

1 bedroom, 1 bath unit in Wailuku, Maui. In the heart of town close to shopping, schools, government offices, Wailuku businesses and North Shore beaches.

  Customer Listing Synopsis

Kai Makani 34 203.jpg
  Kai Makani 34-203
Kihei

$344.5K (FS)
 

Bank Owned. Lovely 2 bd. 2 bath unit across the road from "Mai Poina" (Windsurf Beach). Barely lived-in.

  Customer Listing Synopsis

Kai Malu 18A.jpg
  Kai Malu 18A
Wailea

$783.9K (FS)
 

Bank Owned. Great value for this 3 bd. 2.5 bath 1,796 sq. ft. unit at Kai Malu.

Customer Listing Synopsis




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Coldwell Banker Island Properties
3750 Wailea Alanui Drive Suite B-35
Wailea, Hawaii 96753
US

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