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Market Update
Banked owned properties (REO's) make up a substantial part of Maui's real estate market. One need not look too far to come to the same conclusion. Just take a peak at a few of the listings below. Within the next few weeks we'll publish February's official sales numbers. Our preliminary figures show that 24.5% of all February closings on Maui were bank owned sales.
Last week we commented on how we believe we are at or near the bottom. This week we'd like to pose the million dollar question: What happens when the bank owned inventory on Maui begins to dry up? Maui's real estate market will come roaring back. How far into the future will this be? Nobody knows for sure.
In the meantime there's no denying there are some wonderful opportunities to get in while prices are still low. If history tells us anything, this window won't last forever.
Have a wonderful week!
Mahalo Nui Loa,
The Smith Team
P.S. Know of anyone looking for a spectacular home in Las Vegas? Check out 30 Eagles Landing, an absolutely fabulous home located at the Estates at Southern Highlands.
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
 
Market Watch for February 28th, 2011
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Active |
Pending |
Sold |
Change |
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Homes |
797 (317) |
260 (30) |
816 (94) |
-11 |
|
Condos |
1211 (232) |
263 (14) |
1157 (155) |
-4 |
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Land |
536 (124) |
31 (12) |
124 (15) |
-5 |
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Total |
2544 (673) |
554 (56) |
2097 (254) |
-20 |
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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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166 Apuwai Place
Haiku
$1.199M (FS)
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Bank Owned. Here is your opportunity to own a home with one of the largest square footages on Maui at over 7,000 sq. ft. on just over 2 acres with expansive ocean views as well as the North Shore and West Maui mountains.
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1742 Omaopio Road
Kula
$1.7M (FS |
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Bank Owned. Calling all Equestrians. Here is your dream home and equestrian facility in one of the most beautiful places on earth. Bi-coastal ocean views and dual mountain views make this amazing 20 acres parcel with two big houses one of the best deals on Maui.
Customer Listing Synopsis
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99-101 Oheala Place
Makawao
$2.495M (FS |
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Stunning, Inviting, Warm, Rich & Stimulating are a few words that describe this Gem of a property. Yes, A Feast for sore eyes and ‘a noticeable feeling of relaxation & contentment’ upon entering this Bali inspired owner-builder creation.
Customer Listing Synopsis
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Homes Under $1M
960 Ehoeho Street
Haliimaile
$195K (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 improvements.
Customer Listing Synopsis
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2732 Aina Lani Drive
Pukalani
$364K (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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40 Pulehuiki Road
Kula
$364.9K (FS)
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Bank Owned. Live in the country, yet be an easy drive to town. Tiled floors for easy care. Pot belly stove to help keep the cool air at night at bay. Large decks in the front and back.
Customer Listing Synopsis
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2779 Ohina Street
Kihei
$439.5K (FS)
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Bank Owned. This big home offers peek-a-boo ocean views from the upstairs bedroom. It is situated in a beautiful neighborhood, on the southern end of Kihei.
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Vacation Condos Over $1M
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Ho'olei R-4
Wailea
$2.225M (FS)
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The Ho'olei community is located directly across the street from the Grand Wailea Resort and Spa. Relax with the ability to "lock and go" while at the same time enjoy the comforts of a condominium designed to feel like a stand-alone home. Residence 55-4 is the last available Plumeria floor plan offered in the highly sought after second row of the neighborhood.
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Wailea Beach Villas PH503
Wailea
$4.2M (FS)
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Upon entering the oversized mahogany wood entry door to this top floor penthouse unit, you can already see the expansive ocean views. This elite “A” floor plan features 3 bds. 3 baths with the Master bedroom upfront to command the beautiful views. The gourmet kitchen has cherry cabinetry from Snaidero, granite counter tops, Sub-zero refrigerator and Gaggenau cook-top.
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Vacation Condos Under $1M
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Paki Maui #217
Honokowai
$239K (FS)
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Make the 1st short sale offer on this newly remodeled, fully furnished, 2nd floor 1 bd. 1 bath to be 1st in line for a best buy. Features include granite counters, wood floors, stainless appliances, oceanfront pool/spa/BBQ, meeting room, etc.
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Papakea K-102
Honokowai
$510K (FS)
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This ground floor 2/2 unit at Papakea Resort, a very popular low rise garden paradise situated on 13 tropical landscaped acres, freshwater lagoons, expansive lawns and coconut palms.
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Residential Condos
Kehalani Gardens #104
Wailuku
$179.9K (FS) |
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Bank Owned. Comfortable townhouse style apartment with a large open floor plan. Private fenced yard also has large deck.
Customer Listing Synopsis
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Hale Kanani 3-302
Kihei
$299.9M (FS) |
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Bank Owned. Great location on the top floor of this newer complex. Check the surf at Cove Park or the sun setting on the West Maui mountains from your private lanai.
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Vacant Land
0 Kamehameiki Road
Kula
$450K (FS) |
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Agricultural zoned lot with three (3) levels. Section A abuts road, Section B has various trees, plums, persimmons, loquats, cherimoyas. Section C has flowers, agapanthus, azaleas, proteas, and cherry tree.
Customer Listing Synopsis
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