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Market Update
The Economic Growth and Tax Relief Reconciliation Act of 2001 is set to expire at the end of this year. This was known as "The Bush Tax Cuts" that lowered the Federal capital gains tax to 15% on long term investments.
According to IPX1031, an investment properties exchange services company, the capital gains tax on investments will rise from 15% to 20%. Therefore, if you were to sell or "cash out" a property with a $1 million gain, you would be expected to pay an additional $50,000 in capital gains tax.
Additionally, in the beginning of next year, the 2010 Health Care Bill will also impose a 3.8% tax on passive investment income. This includes capital gains, rental income, interest and dividend income for individuals whose annual income exceeds $200,000 or married couples who file jointly and whose annual income exceeds $250,000.
An option to avoid paying capital gains and the 3.8% healthcare tax would be to do a 1031 exchange. For more information, visit www.ipx1031.com. Please consult with a tax and/or legal professional when inquiring about taxes and estate planning.
Mahalo Nui Loa,
Greg, Melissa, Ken, and Jeremy
P.S. - The first store, Longs Drugs opened up today in the newest master planned community of Kehalani in Wailuku. Let us know if you interested in any of the new developments in Kehalani, including the new condominium developments of Milo Court, Hoole'a at Kehalani, and Villas at Kehalani.
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
Market Watch for October 8th, 2012
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Active |
Pending |
Sold |
Change |
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Homes |
491 (238) |
251 (18) |
892 (115) |
+8 |
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Condos |
752 (161) |
250 (10)
|
1156 (71) |
-13 |
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Land |
408 (108) |
28 (5) |
141 (15) |
-4 |
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Total |
1651 (507) |
529 (33) |
2189 (201) |
-9 |
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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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78 S. Iwa Place
Ka'anapali
$1.695M (FS)
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Ideally situated between Lahaina and Kapalua this 2 story estate offers the best of everything with 5 large bedrooms and 4.5 baths sprawled over 5,921 sq. ft. you have enough room for stretching out comfortably and plenty of room for parties. The views from this Ka'anapali Hillside home are breathtaking while playing in the pool, sitting on the lanai or just having a cup of coffee from the Master Suite you can enjoy full views from Lanai to Molokai or just sit and watch the sunsets.
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Homes Under $1M
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1827 Pikale Road
Wailuku
$220K (FS)
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Very cute, very well maintained home centrally located on Pikale Road with many upgrades that you will enjoy. It was a 3 bedroom/ 1 bath home before owner converted one room into a den/study room. You must see this property to appreciate it.
Customer Listing Synopsis
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200 Luakaha Circle
Kihei
$449K (FS)
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Short Sale. Fantastic 3 bedroom, 2.5 bath home in popular Piilani Village III community. Spacious open floor plan with a completely fenced-in yard. Lots of counter space and cabinets in the kitchen, roomy master bedroom with two closets and a large 2-car garage for all your parties. Central A/C, solar hot water and space at the top of the stairs for an office or TV area are great additions.
Customer Listing Synopsis
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2370 Piliholo Road
Olinda
$675K (FS)
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Looking for peace and tranquility with a stunning ocean view, too? Drive down a little country lane that takes you to the macadamia nut orchard, then to the private home which faces the expansive, green pasture and north shore view beyond. This home recently underwent extensive remodeling which included a 500+ square foot addition, new bathroom, and new septic system; all fully permitted. Seller may consider financing with significant down payment.
Customer Listing Synopsis
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175 Keonekai Road
Kihei
$750K (FS) |
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Beautiful home in Pukalani with light, bright open floor plan, large tinted windows and bamboo / maple hardwood flooring. Kitchen has Corian island, tile floor, Whirlpool appliances and maple cabinets. The covered lanai is overlooking the tee box for the 9th hole of Pukalani Golf Course and is a great place for entertaining guests. The house has mountain views from the downstairs and partial ocean view from the upstairs bedroom.
Customer Listing Synopsis
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Vacation Condo Over $1M
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Ho'olei S-1
Wailea
$2.05M (FS)
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Sit back and relax in this spacious 3 bedroom, 3.5 bath beautiful Wailea condominium. Ho’olei S-1 is literally the closest unit to the pool area and is walking distance from the Grand Wailea Resort. The Ho’olei community represents a unique fusion of tropical beauty and island lifestyle unparalleled in South Maui. For those seeking the privacy of an upscale residence with the ease of a condominium, Ho'olei offers the ultimate opportunity. Each home within the neighborhood has a private elevator and attached garage.
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Vacation Condos Under $1M
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Kauhale Makai #109
Kihei
$329K (FS)
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The best buy At Kauhale Makai is unit 109 with an ocean view and just steps from the pool on the ground floor. This well maintained two bedroom two bath fee simple condo for sale in Maui has 799 sq. ft. of interior living area.
Customer Listing Synopsis
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Kahana Villa F-104
Kahana
$395K (FS)
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Short Sale. This is a spacious 2 bedroom 2 bath unit with better than expected Ocean views. There is over 1260 sq. ft. in this townhouse style condominium providing plenty of space and storage and ocean views from living room/lanai and master bedroom. This unit is completely furnished with some upgrades.
Customer Listing Synopsis
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Hale Kamaole #255
Kihei
$484.9K (FS)
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Bank Owned. 2 bedroom 2 bath with loft totaling 1,112 sq. ft. Walk to Kamaole Beaches and restaurants.
Customer Listing Synopsis
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Ma'alaea Kai #305
Ma'alaea
$599K (FS)
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Beautiful panoramic ocean views from this 2 bedroom / 2 bath oceanfront unit at Maalaea Kai. This unit features bamboo and tiled floors, updated kitchen, tiled bathrooms, central A/C and quality furnishings. The master bedroom is located upfront to capture the gorgeous ocean views. The 2nd bedroom has a walk-in shower that is wheelchair accessible. Virtual Tour.
Agent Listing Synopsis
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Palms at Wailea #205
Wailea
$667K (FS)
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Small ocean views from living room, kitchen, bedroom and lanai. Quiet, convenient location with close proximity to the beautiful pool. Quiet concrete building. Complex allows vacation rental as well as gas BBQ's on the Lanai.
Customer Listing Synopsis
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Residential Condos
Puuone Towers #302
Wailuku
$109K (FS) |
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Short Sale. Original condition condo with West Maui & Ocean views located in Wailuku with security entrance, On Site property manager. Lots of potential. Close to shops, restaurants, schools, and more.
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Bay Vista Aprts #11
Kihei
$150K (FS) |
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Wonderful and quaint 2nd story condo in a 3 Story building with 12 separate units. The Green, lush, tropical landscaping on the walkways welcomes you home to your unique 1 bedroom/ 1 bath garden oasis. The incredible park like common area is gorgeous, fenced in and the garden areas are lush and green with beautiful tropical flowers, barbeque area, chaise lounge chairs for visiting with friends and family in a tranquil type setting.
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Villas at Kahana Ridge #125
Kahana
$319K (FS) |
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A beautiful, move in ready 3 bedroom, 2 bath condo, with partial ocean view, located on the Kahana Ridge hillside. This is a highly desirable end unit, in which all the extra side windows face the North, capitalizing on Maui's tropical trade winds.
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Vacant Land
176 W Panana Place
Wailea
$444.9K (FS) |
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Bank Owned. Beautiful, large, 15,406 sq. ft. home site with expansive ocean and outer island views. Spectacular Sunsets too! Located in the prestigious gated community of Wailea Kialoa, the parcel is privately located at the end of a cul-de-sac. The topography is gently sloping with a tremendous amount of room to build a large home, pool, with plenty of land left over for extensive landscaping and use of walls for added privacy.
Customer Listing Synopsis
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