Blog Detail
The Tide is Turning
The tide is turning. You know the market is shifting in to a higher gear when you receive 10 offers on one listing and 5 offers on another one within days of listing the property.
This was the case with two of our bank owned properties that we listed last week. Unfortunately, the bank jumped the gun on one of the Listings and we had to cancel it, due to the fact that the sale had not yet been confirmed by the courts.
If you think it is only REO properties that are garnering attention, think again. Our new luxury property listing at 120 Manalo Street (see Featured Property above) is also attracting considerable attention.
Our real estate market on Maui is cyclical. Remember 1980 to 1985, we were in a downward trend as a result of high interest rates.
1985 to 1991, we had a booming market with Japanese investors pushing values to unprecedented heights.
1997 to 2006, we experienced our last big boom in real estate prices which was partially due to the availability of money and easy financing qualifications.
If we could project ourselves ahead to 2015, and look backwards, we believe that the period between now, and then will mark the next big wave in our periodic cycles.
Do you want to take advantage of this next upswing in the Maui Real Estate market? Whether you want to buy a luxury multi-million dollar estate, or your first affordable home or condo, we are ready to help you.
Have a wonderful week!
Mahalo Nui Loa,
The Smith Team
P.S. One of the key factors in any sustainable recovery in our Maui real estate market will be how tourism is faring. It is the driving force of our economy. We are happy to report that occupancies are way up again for the first quarter of 2010.