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![The Smith Team - Two Generations of Satisfied Customers](https://www.mauisales.com/newsletter/images/header.jpg) |
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Issue 317 |
April 7th, 2009
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Market Update
Are you wondering whether it is a good time to buy real estate on Maui? If you are, we are sure you are not alone.
As one person so aptly stated, it takes guts to buy at the bottom of the market. Given all the bad news, it is no wonder why many people are so fearful of buying at this time, but it is precisely for that reason, that there has not been a better time to buy Maui real estate in many years.
Of course, prices could go lower in the next 12 months, but if you are thinking of buying and holding for at least 5 years, then chances are you'll be glad you bought today.
For example, look at our Featured Property above.....a brand new home in Wailea for $850K or less. Who would have thought that would be possible 2.5 years ago when the owner paid $1.197 million? And this is not a Short Sale.
Bottom line, we can't say prices won't decline further. What we can say though is that sales are increasing, and if this last week's drop in inventories is any indication of things to come, the future is definitely looking much brighter.
Have a wonderful week.
Mahalo Nui Loa,
The Smith Team
P.S. Would you like to own a 1 month fractional interest in June for a 1 bedroom Wailea Ekahi condo for only $33,900? That is an unheard of low price! Or, how about the same period for a 2 bedroom condo at Maalaea Kai for $43,000? If you'd like more details, we will put you in direct contact with the owners.
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
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Market Watch for April 6th, 2009
| Active | Pending | Sold | Change |
Homes | 1084 (465) | 131 (17) | 785 (140) | -20 |
Condos | 1742 (337) | 90 (7) | 654 (165) | -24 |
Land | 633 (188) | 42 (18) | 71 (21) | -5 |
Total | 3459 (990) | 263 (42) | 1530 (326) | -49 |
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
![347 Holopuni Road.jpg](https://29814431cf-custmedia.vresp.com/library/1493152562/2fee32d11d/347%20Holopuni%20Road.jpg)
347 Holopuni Road
Kula
$1.093M (FS) |
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Kula Glen Chalet has stunning Valley Isle views. This home has a panoramic Bi-coastal vista that will have you pinching yourself, and friends and guests jealous of your good fortune. Cool 2,300 foot elevation gives you a bird's eye view from Wailuku's harbor lights to the rolling green valley filled with sugarcane, to the majestic West Maui Mountains, and the Ma'alaea coastline with Lanai in the distance.
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![321 Pualoa Nani Place.jpg](https://29814431cf-custmedia.vresp.com/library/1493152562/963db8189c/321%20Pualoa%20Nani%20Place.jpg)
321 Pualoa Nani Place
Wailea
$1.875M(FS)
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This home offers exceptional unobstructed ocean views from the upstairs living area, kitchen and dining area. Two large separate lanais enhance the spacious and open floor plan on the 2nd level. Oriented south, the views of Haleakala and the outer islands are beautiful.
Customer Listing Synopsis
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Homes Under $1M
![321 Ala Malama.jpg](https://29814431cf-custmedia.vresp.com/library/1493152562/fe6261337c/321%20Ala%20Malama.jpg)
321 Ala Malama Avenue
Molokai
$329.9K (FS) |
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Bank owned. Great opportunity for first time home buyer or handyman. Property needs work.
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![669 Hilinai Street.jpg](https://29814431cf-custmedia.vresp.com/library/1493152562/6e0c6a0781/669%20Hilinai%20Street.jpg)
669 Hilinai Street
Wailuku
$350K (FS)
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Short sale. Extended family opportunity in this four bedroom home with many exterior options including the enclosed carport that can function as added entertainment space, and a large enclosed back yard with a stairway to a deck that provides ocean views and a great gathering area for barbeques.
Customer Listing Synopsis
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![193 Oluea Circle.jpg](https://29814431cf-custmedia.vresp.com/library/1493152562/27d83fcdd2/193%20Oluea%20Circle.jpg)
40 Waiolani Place
Wailuku
$399K (FS) |
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Short sale. This 3 bd. 2 bath home is located in Wailuku Parkside and is convenient to shopping, schools and restaurants. It has a great layout. One of the features to this home is the large living room. The large back yard has gazebo that offers comfort and relaxation.
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![26 Munoz.jpg](https://29814431cf-custmedia.vresp.com/library/1493152562/8df4387a7e/26%20Munoz.jpg)
26 Munoz Street
Pukalani
$650K (FS) |
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Spacious, two story, family home has a flexible floor plan. 2 bd. / 2 ba upstairs, high vaulted ceilings with an open, airy floor plan including two large covered lanais. Downstairs are another 2 bd. 1ba with high, 10 foot ceilings, plenty of light and a family room with refrigerator, cabinets and wet bar for maximum flexibility. Detached ohana is very nice with custom painted tiles in kitchen and lots of storage.
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![415 Kamalei.jpg](https://29814431cf-custmedia.vresp.com/library/1493152562/f9673158a8/415%20Kamalei.jpg)
415 Kamalei Circle
Kahului
$705K (FS) |
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Lovely 3 bdr. with a spiral staircase that leads up to a 243 sq. ft. loft area. High vaulted ceilings. Split system A/C. Landscaped lot that borders golf course, quiet and serene surroundings and spectacular views of the West Maui Mountains.
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![70 Kamaiki Circle.jpg](https://29814431cf-custmedia.vresp.com/library/1493152562/17a01035f1/70%20Kamaiki%20Circle.jpg)
70 Kamaiki Circle
Kahului
$799.9K (FS) |
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Short sale. Located in the prestigious gated community of The Bluffs at Maui Lani. This two story home has a large master on the second level with walk in closet, huge master bathroom, and private balcony lanai with views of Haleakala and Maui Lani Golf Course. Covered lanai in the backyard with stamped concrete is the perfect setting for entertaining guests.
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![212 E Ikea Kai Place.jpg](https://29814431cf-custmedia.vresp.com/library/1493152562/1e0e51f05a/212%20E%20Ikea%20Kai%20Place.jpg)
215 E Ikea Kai Place
Wailea
$899K (FS) |
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Can't believe this is still available! Major price reduction makes this the best value in Wailea Kialoa. This prestigious gated community usually sees prices in the $2 million + range. This spacious, well-built home boasts both ocean and mountain views with an open floor plan and lush tropical landscaping. The flexible floor plan allows for an attached ohana/ in-laws quarters downstairs.
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![3309 Keha.jpg](https://29814431cf-custmedia.vresp.com/library/1493152562/8e1dfa020e/3309%20Keha.jpg)
3309 Keha Drive
Kihei
$999K (FS) |
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Beautiful ocean views from the top of Maui Meadows. This A framed cedar home has been tastefully remodeled with new appliances, flooring, bathrooms, interior siding and much, much more. 3 bd. 2 baths upstairs and a studio/bathroom downstairs. The cottage was also redone in late 2003. 1 bedroom plus loft and 1.5 baths.
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Vacation Condos Over $1M
Ho'olei B4
Wailea
$2.95M (FS)
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Fabulous views, gorgeous designer furnishings, custom and brand new Ho'olei unit. Located in the "B" building, one of the best for ocean views from Molokini to Maalaea. Unit is being sold completely furnished and turn key. One of the best buys in Ho'olei, this unit is priced to sell.
Customer Listing Synopsis
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Vacation Condos Under $1M
![Kamaole Sands 4 213.jpg](https://29814431cf-custmedia.vresp.com/library/1493152562/7329c76fe1/Kamaole%20Sands%204%20213.jpg)
Kamaole Sand 4-213
Kihei
$358K (FS) |
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End unit on second floor of building 4 with tiled lanai and a large living room window for extra light. Beautifully upgraded bathrooms and kitchen including professionally interior designed breakfast bar. Upgraded appliances and ceiling fans.
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![Grand Champions 49.jpg](https://29814431cf-custmedia.vresp.com/library/1493152562/08901d2424/Grand%20Champions%2049.jpg)
Grand Champions #49
Wailea
$379.9K (FS) |
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Bank owned. Drastic price reduction. No steps to this 2 bedroom 2 bath ground level corner unit condominium with large lanai and pool views. Also has lock out feature with 2 entries. This unit needs mold remediation, but price has been discounted over $100K from the very lowest recent sales and next lowest Active listing.
Customer Listing Synopsis
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![Honokeana Cove 117.jpg](https://29814431cf-custmedia.vresp.com/library/1493152562/6c4758bff8/Honokeana%20Cove%20117.jpg)
Honokeana Cove #117
Napili
$800K (FS) |
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Finally, a rare opportunity to own at one of the highest occupancy rate rental associations in popular West Maui. Honokeana Cove. Known for its crystal clear blue-green cove full of turtles, Honokeana Cove is truly a hidden jewel of Maui.
Customer Listing Synopsis
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Residential Condos
![Southpointe 5 105.jpg](https://29814431cf-custmedia.vresp.com/library/1493152562/62b72af09a/Southpointe%205%20105.jpg)
Southpointe 5-105
Kihei
$161.5K (FS) |
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Bank owned. Ground floor corner unit with private yard. 2 bd. 1 bath 650 sq. ft. Unit is close to complex clubhouse. Southpointe is located in North Kihei, close to beaches, shopping, restaurants and schools. Minutes drive to resort area of Kihei and Elleair golf course.
Customer Listing Synopsis
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![Ke Alii Ocean Villas N102.jpg](https://29814431cf-custmedia.vresp.com/library/1493152562/116a8c94e9/Ke%20Alii%20Ocean%20Villas%20N102.jpg)
Ke Alii Ocean Villas N102
Kihei
$799K (FS) |
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This 3 bd. 3 bath townhouse is the largest in the complex, with 1,906 sq. ft. of interior living space. Tastefully furnished, it features top quality "black galaxy" granite counter tops in both the kitchen and bathrooms. A large kitchen pantry and upgraded fridge are featured as well. This is a turn key home, with everything supplied: from beach towels to large HD TV's. Can sleep 8 people comfortably.
Customer Listing Synopsis
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![Kai Malu 51B.jpg](https://29814431cf-custmedia.vresp.com/library/1493152562/9fee329d02/Kai%20Malu%2051B.jpg)
Kai Malu 51B
Wailea
$899K (FS) |
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Short sale. Ever popular "Honua" floorplan, located on the greenbelt. Gorgeous Haleakala views and an added bonus is the spectacular view of the ocean from the second floor. Immaculate condition. Upgraded refrigerator, extended lanais, and kitchen window were added for additional comfort.
Customer Listing Synopsis
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![Kapalua Ironwoods 14.jpg](https://29814431cf-custmedia.vresp.com/library/1493152562/54c072ab10/Kapalua%20Ironwoods%2014.jpg)
Kapalua Ironwoods #14
Kapalua
$2.995M (FS) |
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Quite possibly the best beachfront location of any condominium within Kapalua Resort. This top floor 2 bedroom unit with study in Building 1 sits just a stones throw away from the sandy beach of Oneloa Bay with panoramic ocean views from Molokai , looking down over the signature 5th hole of the Kapalua Bay golf course and out to Honolua Bay. The entry hallway has been extended and widened with large picture windows allowing plenty of light upon arrival.
Customer Listing Synopsis
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Vacant Land
![321 Puumakani St.jpg](https://29814431cf-custmedia.vresp.com/library/1493152562/8402701cec/321%20Puumakani%20St.jpg)
321 Puumakani Street
Kahului
$250K (FS) |
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Great lot in Grand Fairways North with beautiful rock wall surrounding the property in quiet cul-de-sac. Many lovely neighboring homes in this subdivision. Listor is part owner. Owner open to financing.
Customer Listing Synopsis
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