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Market Update
One of the biggest wealth transfers in modern history is about to take place. Who is in line to benefit? Two words: baby boomers.
According to a recent study conducted by the Center for Retirement Research at Boston College, baby boomers are in line to inherit 8.4 trillion dollars. John W. Schoen wrote a brief and insightful piece about this projected wealth transfer. Schoen, points out that although the "median transfer amount will be $64,000 per boomer, like everything else related to wealth in America, there will be a wide range between the biggest and smallest inheritances. Boomers from the richest families are in line for as much as $1.5 million each; those at the bottom of the inheritance ladder will get just $27,000."
This wealth transfer won't happen overnight. In fact it will happen gradually right before our very eyes. The same thing happens in real estate markets. While the "doomers and gloomers" are declaring the worst, the intelligent recognize value and act on it. What camp are you a part of?
Have a wonderful week!
Mahalo Nui Loa,
The Smith Team
P.S. We we're recently contacted by a producer of the famed television show House Hunters. Are you considering buying on Maui? If so, let us know. You might be just the right fit for House Hunters Maui.
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
 
Market Watch for March 28th, 2011
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Active |
Pending |
Sold |
Change |
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Homes |
798 (315) |
261 (36) |
839 (96) |
-1 |
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Condos |
1173 (234) |
263 (19) |
1161 (138) |
-18 |
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Land |
540 (128) |
27 (6) |
122 (12) |
+3 |
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Total |
2511 (677) |
551 (61) |
2122 (236) |
-16 |
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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
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201 Plantation Club Drive
Kapalua
$4.9M (FS)
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Set in gardens of tropical flowers and fruits trees experience panoramic views of neighboring islands, sunset scenes and seasonal whales watching from every vantage. This 6,000 sq.ft. home sleeps up to 8 with 4 elegant bedroom suites, 5 1/2 baths, Media room with 65" HDTV and surround sound, private gum with ocean view, two cascading infinity-edge swimming pools, Italian glass-tiled 10 ft. poolside Jacuzzi, gourmet kitchen and central A/C.
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Homes Under $1M
960 Ehoeho Street
Haliimaile
$179.9K (FS) |
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Bank Owned. Located in the heart of Haliimaile, the value is in the land with this older home built in 1939 and a garage in 1926 which has had some improvement.
Customer Listing Synopsis
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2732 Aina Lani Drive
Pukalani
$349.9K (FS) |
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Bank Owned. Quiet neighborhood which shows pride of ownership. Expansive home with "family" room at the back has been divided into 2 rooms. New carpet, paint, stove and dishwasher a few months ago.
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241 Oluea Circle
Kihei
$390K (FS)
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Bank Owned. Well maintained Plantation style home in Kihei. You will love this house, the prior owners were meticulous! Nice open floor plan with the Master Bedroom on the main level with a large bathroom and a soaking tub! Kitchen has upgraded Cherry Cabinets and corian counter tops.
Customer Listing Synopsis
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81 Laukahi Street
Kihei
$740K (FS)
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Bank Owned. This is the home you have been waiting for, located just a few blocks from Kamalii School, 3 blocks to the beach, large corner Lot with fantastic Ocean views.
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Vacation Condo Over $1M
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Wailea Beach Villas PH306
Wailea
$3.299M (FS)
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Wailea Beach Villas 306 is located overlooking the ocean above one of Wailea's most famous beaches. Featuring 2 comfortable master suites plus a den which can be used as a 3rd bedroom. Exquisitely furnished, comes complete with a full inventory.
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Vacation Condos Under $1M
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Waiohuli Beach Hale #116
Kihei
$250K (FS)
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Sunsets galore at this waterfront complex with expansive grounds, large pool and barbecue area and gorgeous gardens. This is an upgraded Waiohuli Beach Hale ground floor unit with bamboo laminate flooring throughout, new kitchen cabinetry and tile countertops. Ocean views from lanai and plenty of open space to enjoy the Maui breezes.
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Kihei Akahi D-315
Kihei
$450K (FS)
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Rarely available 2 bedroom 2 bath condo at Kihei Akahi on the 4th floor Level of the D building. Fabulous ocean, Sunset & pool views from nicely upgraded beautiful turnkey vacation rental.
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Maui Sunset A-408
Kihei
$497K (FS)
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Wonderful 2 bedroom 2 bath beach front opportunity. Enjoy ocean views and sunsets from your lanai.
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Grand Champions #109
Wailea
$530K (FS)
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Nicely upgraded ground Floor 2 bedroom / 2 bathroom vacation rental condominium. Enjoy the privacy and ocean views from your large lanai. The kitchen has been upgraded with granite counter tops, beautiful kitchen cabinets, and new appliances. The unit has tile flooring throughout the living room, kitchen and bathroom.
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Residential Condos
Haleakala Gardens 4B
Kihei
$109.9K (FS) |
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Bank Owned 2 bedroom 2 bath. Special financing is available. Purchase this property for as little as 3% down.
Customer Listing Synopsis
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Ho'onanae at Lahaina #112
Lahaina
$369K (FS)
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Short Sale. Luxurious and beautiful 2-story, 3 bedroom, 2.5 bath home offers wonderful ocean views from the kitchen, living room, master bedroom and master bath. This gorgeous home is large and spacious with lots of additional storage.
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Vacant Land
5000 Makena Road Lot 4
Makena
$5.24M (FS) |
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On the most sought after Maui coast line, this unique property consists of 4 parcels totaling nearly two acres. All lots have underground utilities and water meters. Sunsets all year with outer islands in the distance. Stroll to a white sand beach.
Customer Listing Synopsis
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