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Market Update
"If we erred, we erred on the side of consumers, not the lenders." -State Representative Robert Herkes talking about Hawaii's new foreclosure law
Last week we talked about Act 48. In an attempt to further unravel the impact of Hawaii's new foreclosure law, we thought you'd appreciate the following article from Forbes.com.
What is your perspective on Hawaii's new foreclosure law? Is it a good thing? Is it a bad thing? How will it affect the market? We value your feedback and would love to hear from you.
Have a wonderful week,
The Smith Team
P.S. Everything has a flip side, doesn't it? The flip side here is there are some wonderful buying opportunities in today's market. One example is million dollar homes. Last year, by July 5th, 2010, the number of million dollar homes sold was 52. This year that number has leapt to 62—a nearly 17% increase in the number of million dollar homes sold. Is the glass half full or half empty?
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
 
Market Watch for July 4th, 2011
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Active |
Pending |
Sold |
Change |
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Homes |
737 (268) |
234 (24) |
833 (105) |
-13 |
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Condos |
1007 (191) |
232 (8) |
1128 (107) |
-38 |
|
Land |
493 (113) |
35 (9) |
125 (14) |
-15 |
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Total |
2237 (572) |
501 (41) |
2086 (226) |
-63 |
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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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726 Kumulani Drive
Kihei
$2.44M (FS)
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Privately nestled at the top of Maui Meadows next to the ranch land is this spacious, custom-designed, gated home with expansive ocean, island & Haleakala Mountain views.
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Homes Under $1M
287 Leleihoku Street
Waikuku
$384.9K (FS) |
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Bank Owned. Freddie Mac is currently offering a huge buyer's incentive through 10/31/2011. This older ocean view home offers a modest living opportunity on a large lot in Central Maui.
Customer Listing Synopsis
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356 Maka Hou Loop
Wailuku
$385K (FS)
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Short Sale. Great value for this 3 bedroom/2.5 bath two story home in The Cottages at Kehalani, which is nestled on the slopes of the West Maui Mountains. Enjoy the breathtaking views of the central valley and the mountains.
Customer Listing Synopsis
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90 Kawailani Circle
Kihei
$409K (FS) |
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Short Sale. Fantastic single level 3 bedroom, 2 bath home in popular Piilani II, Kihei. Enjoy cool A/C and the simplicity of living on one level.
Customer Listing Synopsis
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1382 Aianakea Road
Lahaina
$410K (FS) |
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Bank Owned. Spacious residential home in great location near the Cannery mall. Enjoy the panoramic ocean views from the 2nd floor. Large living area, great for large family.
Customer Listing Synopsis
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220 E Ikea Kai Place
Wailea
$997K (FS)
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Short Sale. Absolutely one of the best values in Wailea for under $1 million. Remodeled in 2006, this upgraded and single- story home offers over 2,000 sq. ft. living area with sparkling pool, outdoor shower, and ample covered lanai for outdoor living and entertaining in the private backyard area.
Customer Listing Synopsis
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Vacation Condo Over $1M
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Kapalua Bay Villas 21B4
Kapalua
$1.375M (FS)
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A magnificent second floor vantage point is only one of the breathtaking oceanfront features about the location of 21 B 4. Considered one of the finest building locations with sweeping views of the entire sandy beach of Oneloa Bay, the blue Pacific Ocean, Kapalua coastline and the rich colors reflected from the island of Molokai.
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Vacation Condos Under $1M
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Kihei Resort 116B
Kihei
$159.9K (FS)
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Bank Owned. This complex boasts beautiful, lush tropical grounds. 1 bedroom /1 bathroom ground floor unit with W/D hook-up in the unit for convenience. Very open and spacious feel.
Customer Listing Synopsis
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Ka'anapali Plantaion #35
Ka'anapali
$515K (FS)
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Bank Owned. Nestled on Ka'anapali Hillside this unit offers spectacular partial ocean views. Recently upgraded kitchen and bathrooms. Must see to appreciate. Enjoy separate front door entrances to each bedroom suite.
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Residential Condos
Kihei Shores A-107
Kihei
$134.9K (FS) |
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Bank Owned. Located in the coveted South Maui area near beaches, shopping, and fine dining. These units are in high demand and this one has a small ocean view.
Customer Listing Synopsis
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Wailea Palms #2503
Wailea
$624K (FS)
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Gorgeous unit with partial ocean view from lanai. This 2/2, is tastefully furnished, upgraded with new stainless steel appliances, granite counter tops, tile floors and very spacious tiled lanai. No steps up or down from the parking area to the front door
Customer Listing Synopsis
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Hokulani Golf Villas #132
Kihei
$880K (FS)
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Hokulani Golf Villas uniquely offers the space and privacy of a single family home with the ease and convenience of condominium association living. You need not concern yourself with taking care of the entry gate, your lovely yard, the 3.5 acre park, the sparkling infinity pool, the spa, community center or barbeque area. Surrounded by the 18 hole Elleair Golf Course and abutting the private park, this one level home captures exceptional views of the West Maui Mountains and the Pacific.
Customer Listing Synopsis
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Vacant Land
2660 Kanakanui Road
Kihei
$256.5K (FS) |
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Bank Owned. This property will be Going to Auction onsite on July 11, Thursday noon. Vacant flag lot in South Maui.
Customer Listing Synopsis
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