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Issue 312 |
Feb 24th, 2009
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Market Update
This is the perfect economic storm, but at the same time this is the perfect buyer's market for real estate.
For example, my parents bought their first house on Maui in 1972 for $36,500. They had a 30 year fixed mortgage with an interest rate of 11.25%. In comparison, today's rates are at historic lows with rates in the low 5% range.
In addition, people are fearful of what is going on in the economy, not knowing if the stimulus plan will work. With many buyers on the fence, we are seeing some sellers doing fire sales and listing their homes at very low prices. We are also seeing more bank owned properties and short sales on the market.
Low interest rates and low home prices make it the perfect time to buy a home.
If you are looking to take advantage of our buyer's market, feel free to email us your property criteria and we'll be glad to send you some great deals.
Have a great week!
Mahalo Nui Loa,
The Smith Team
P.S. E-mail us if you would like to receive a list of our preferred lenders on Maui.
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
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Market Watch for February 23rd, 2009
| Active | Pending | Sold | Change |
Homes | 1063 (466) | 122 (19) | 853 (155) | 0
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Condos | 1717 (361) | 106 (4) | 717 (195) | +3 |
Land | 638 (194) | 40 (18) | 91 (33) | 0
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Total | 3418(1021) | 268 (31) | 1661 (384) | +3 |
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
4445 Une Place
Haiku
$1.2M (FS) |
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Outstanding view home of 3,307 sq. ft. with 4 bedrooms, 4 baths, porte-cochere entry, stucco finish, open beam ceilings, granite counters, gourmet kitchen, tiled throughout and covered entertainment deck. Two additional rooms include a 360 sq. ft. tutu’s quarters and 400 sq. ft. yoga/ entertainment area.
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584 Kulaiwi Drive
Wailuku
$1.592M (FS)
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4 bd. 4 bath Waterfall House captures the dream of island living with cascading waterfall gardens, bubbling streams, lotus ponds, pool, spa, expansive 180 degree ocean & Haleakala views. The epitome of timeless, classic, enduring architecture, this Farrington rendered design offers seamless indoor/outdoor living thru sliding walls of glass opening to a private paradise.
Customer Listing Synopsis
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38 N Iwa Place
Ka'anapali
$1.975M (FS)
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New home in Ka'anapali Hillside. Beautiful views, lovely design, and great location. The home has Brazilian cherry hardwood, imperial plaster, mahogany doors and trim, travertine flooring, Dura Supreme kitchen cabinets, Wolf appliances, etc. Plus a saline pool and hot tub with a large lanai and bar area for entertaining.
Customer Listing Synopsis
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480 Hulopoe Drive
Lanai
$3.995M (FS)
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This custom home offers island style living at its best with elegant furnishings, a blend of granite countertops, travertine flooring, carpet, African mahogany trim and cabinetry throughout. Sliding glass pocket doors that offer indoor/outdoor living opens to beautiful landscaping and a 65' infinity edge lap pool and spa that overlooks breathtaking views of Hulopoe Bay and Pu'upehe.
Customer Listing Synopsis
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Homes Under $1M
126 Luakaha Circle
Kihei
$419.9K (FS) |
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Bank owned. Great opportunity for first time home buyer. Property is in good shape and to be sold strictly as is.
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43 E Makahehi Place
Kahului
$499K (FS)
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Short sale. Beautiful 4 bedroom, 2.5 bath home in The Legends at Maui Lani. This virtually new home is sure to impress. Luxury features include vaulted ceilings, decorator lighting, walk-in shower, solar water heater, and tile roof. The easy-to-care-for yard has sprinklers and is fenced.
Customer Listing Synopsis
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25 Kamakoi Place
Kihei
$699K (FS) |
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Short sale. Let the ocean waves lull you to sleep. You can see it all from this house - from the fireworks in Wailea, to Kahoolawe, to Lanai, to the West Maui Mountains and Haleakala. Views from every room in the house. Ocean views from the first floor too. Beautiful, mature tropical landscaping that is fully enclosed makes this the best yard in Kihei.
Customer Listing Synopsis
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157 Keonekai Road
Kihei
$789K (FS) |
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4 bedroom 3 bath home with ocean, island, and mountain views from almost every room of house. Furnished, all appliances new and some electronics included also. Watch sunsets in summer and whales jumping in winter.
Customer Listing Synopsis
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Residential Condos Over $1M
Wailea Town Center D-203
Wailea
$1.25M (FS)
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Spectacular ocean views from arguably the most private unit at The Residences of Wailea Town Center. Well appointed condominium in the heart of Wailea. Walking distance to shops, restaurants, beaches and Wailea Tennis Club. Unit comes with private garage and reserved parking space. One of only three units in the D building.
Customer Listing Synopsis
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Vacation Condos Under $1M
Spinnaker A-202
Kihei
$299K (FS) |
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Conveniently located within walking distance to Lahaina Town. Close to the shops, markets, beaches, restaurants, movies and night life of Lahaina. Newly renovated, this unit is ready to move into. Large pool and spa on property, laundry facilities , BBQ area and assigned parking.
Customer Listing Synopsis
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Kihei Alii Kai B-202
Kihei
$320K (FS)
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Lowest priced unit in Kihei Alii Kai. Convenient, quiet, location-walk to beach, restaurants, shopping and more. Unit includes refrigerator, stacked washer/dryer, and new a/c. This complex is loaded with amenities: pool, sauna, Jacuzzi, bbq's, tennis courts and covered parking available.
Customer Listing Synopsis
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Kihei Bay Vista A-201
Kihei
$335K (FS) |
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End unit with ocean view from living room/ lanai. Small density (60 units) complex across the street from a white sandy beach. Complex has pool, spa & putting green. Good vacation rental history.
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Luana Kai D-302
Kihei
$425K (FS) |
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Short sale. Best deal in North Kihei. 2 Bedroom oceanfront-remodeled. The views don't get better than this. At this price, this won't be available long! Tile floors, granite countertops & new furniture.
Customer Listing Synopsis
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Maui Kamaole C-201
Kihei
$700K (FS) |
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2 bed 2 bath condo in very good condition. Garden view and slight ocean view from large lanai with retractable awning as protection against the sun. Energy efficient A/C in master bedroom. New kitchen counter tops, floor tiles and appliances - ceramic top stove with built in microwave oven/fan all installed in 2005.
Customer Listing Synopsis
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Ka'anapali Shores #603
Ka'anapali
$799K (FS) |
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Fabulous sixth floor 2 bedroom, 2 bath unit with incredible oceans views. Ka'anapali Shores is a direct beach front property with year round sunset views. Tropical lush landscaping, two swimming pools, health club, retail shops and a beach front restaurant.
Customer Listing Synopsis
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Residential Condos Under $1M
Kihei Villages 32-204
Kihei
$190K (FS) |
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Charming Kihei Villages second floor unit and priced to sell. This corner unit is surrounded by palm and flowering trees that provide virtually complete privacy. It’s like living in a tree house that picks up the island breezes. Newly painted and well maintained, this unit comes fully furnished and ready to move in, down to your eating utensils.
Customer Listing Synopsis
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Boardwalk F
Kihei
$244K (FS) |
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Bank owned. This quaint two bedroom, two bath, upstairs, end unit offers a large floor plan. This complex is beside million dollar + homes and beach access. This small, charming, residential complex (only 10 units) is very conveniently located within walking distance to restaurants, church, shopping and the beach.
Customer Listing Synopsis
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Vacant Land
353 A'ali'i
Ka'anapali
$449K (FS) |
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Motivated bank seller. Bring in any reasonable offer. Great ocean views and prime location. Low maintenance fees in this section of the Ka'anapali Golf Estates.
Customer Listing Synopsis
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Papa'anui Lot 2
Makena
$1.35M (FS) |
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Lot #2 sits high on top of a ridge and delivers beautiful panoramic ocean views. These Papa'anui lots are directly across the street from Makena Landing.
Customer Listing Synopsis
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