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Another Housing Bubble?

With rapidly rising home prices in many markets across the country, some people are claiming that we are heading for another real estate bubble.

According to Rick Sharga, executive vice president with Carrington Mortgage Holdings, “This is not the 2005 market. We are not creating a bubble.”

It is the shortage of inventory that is causing prices to rise. As prices rise, more sellers will be induced to sell, and more foreclosures are expected to hit the market within the next 12 months. Additionally, home builders are adding inventory as quickly as they can build. All of these factors will take some of the pressure off the market.

We don’t expect, though, that an increase in inventory will completely stop prices from going up….simply slow the rate of increase. As we have commented in previous newsletters, the record low interest rates and rising rental rates makes a compelling argument for buying vs. renting.

The Maui market is unique in many respects. As a world class resort destination, we benefit from a large percentage of off Island buyers looking for second homes, vacation properties, as well as those looking for a great place to retire or live part-time.

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About The Smith Team

Ken Smith, a Maui resident for 45 years, brings his extensive local knowledge and passion for the island to his successful real estate career. Alongside his daughter-in-law, Melissa Smith, and Greg Smith, the Smith Team provides a wealth of experience and dedication to clients seeking to buy or sell property in Maui.

Melissa Smith, a third-generation Maui native, combines her deep understanding of the island's growth with a commitment to exceptional service. She empowers clients with knowledge to make informed decisions in finding their dream homes. With a background as a top agent and a Broker's license, Melissa's expertise is invaluable.

Gregory P. Smith, a lifelong Maui surfer, channels his passion for the island and its natural beauty into his real estate profession. His enthusiasm, deep market knowledge, and dedication to exceeding client expectations make him an exceptional agent.

The Smith Team's combined local expertise, commitment to client service, and understanding of the unique Maui real estate market make them an ideal choice for those looking to navigate the island's property landscape. Their proven track record ensures a smooth and successful experience for both buyers and sellers.