Are the Good Times Back?

Are the good times back? Well, we are not quite prepared to say that; however, we do feel that things are definitely improving.

We are getting multiple offers over list price on many of our bank owned listings lately. Within the last 2 weeks, 5 homes in the $3 to 8.5 Million range went under contract. Also, according to several vacation rental companies, they are seeing bookings running way ahead of last year. Approximately 80% of the bookings during the busy Winter Season which runs through April 15th, are from Canadian visitors.

Not surprisingly, these same visitors have been a prime source for purchases especially for South Maui condos and homes. The fact that real estate prices here have dropped 30 to 50%, while at the same time their currency has gained strength against the U.S. Dollar, should only add to their desire to acquire more properties in the upcoming Winter season.

Have a wonderful week,

Mahalo Nui Loa,

The Smith Team