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| Issue 338 | August 25th, 2009 |
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| Aloha ,
In this newsletter:
REO Properties
Short Sales |
Makena Beachfront
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Market Update
As we look around, there are certainly reasons why one might feel less than optimistic.
For example, the Sunday headline in the Maui News read, "Building Permits Down 38 Percent; Dollar Value Took Steeper Plummet." Read full story.
Not to diminish the stress this is causing many of our unemployed construction workers, but the slowdown is actually A Blessing in Disguise, in our opinion. As new home and condo construction dries up, the supply is lessened.
Since Maui has not lost its luster as a World Class Destination, the demand side of the equation should rebound nicely once the economy turns around. The inevitable outcome from lower supply and increasing demand will be a return to a more stable real estate market.
As an additional positive benefit, the slowdown has made Maui homes more affordable than they have been for a long time. Who would have thought two years ago that one would be able to buy a brand new home on Maui for under $400K.
Have a wonderful week!
Mahalo Nui Loa,
The Smith Team P.S. Follow Ken on Twitter. P.S.S. Hot off the presses. New Bank Owned Listing at Southpointe #11-204, 2 bedroom 1.5 bath for $147,900, will be going in to the MLS tomorrow, and should sell fast! Our last bank owned listing at Southpointe #10-103 sold within days for $151,000, about $6K over asking price, and it was on the road.
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
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Market Watch for August 24th, 2009
| Active | Pending | Sold | Change | |
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| Homes | 980 (403) | 159 (17) | 667 (99) | -17 |
| Condos | 1542 (279) | 144 (8) | 689 (152) | +12 |
| Land | 588 (179) | 40 (13) | 82 (30) | +1 |
| Total | 3110 (861) | 343 (38) | 1538 (271) | -4 |
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1. The numbers in parentheses reflect the number of listings over $1M |
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Breathtaking ocean views from this contemporary style home. This residence offers a spacious open floor plan, with high beam ceiling. Private master suite with large lanai. |
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Exquisite craftsmanship best defines this mint-condition, fully-furnished Ka'anapali Hillside retreat with excellent ocean views (which is protected by a view easement). The various wood floor and ceiling treatments and in-lays were created with extensive use of Cherry, Hard Maple, Mahogany and Walnut, with Rosewood furniture. The entry staircase is buiilt with Cherry with Maple in-lay and dark Walnut accents. |
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This tropical single level home is located in Ka'anapali's most exclusive neighborhood, Lanikeha. The clubhouse at Lanikeha provides a beautiful setting for neighbors to meet and enjoy the pool, spa, BBQ area and workout room. |
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Bank Owned. Cute little house with detached cottage off of Makani Road in Pukalani. Bank has done some rehab. Property could use some additional TLC; however, it is in above average condition as far as REO properties go. Main house has 3 bedrooms 1.5 baths with large carport and huge storage area. |
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 3031 Kauhale Street Kihei $490K (FS) |
Short Sale. 4 bedroom 2 bath home in great South Kihei location ½ block from the Wailea Fire station and just 5 minutes to Keawakapu Beach, Shops at Wailea, and Wailea Kilohana Park.
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Bank Owned. Large 4 bedroom 3.5 bath custom home in newer North Kihei subdivision, Honu Alahele. This home was built in 2004, and has granite counters in kitchen and bathrooms, maple laminate flooring, Jacuzzi Tub in Master Bath, Great Room, and many more outstanding features. |
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 1850 Kauhikoa Road Haiku $949.9K (FS) |
Bank Owned. Beautiful Haiku estate property. Large 2.10 acre lot with a magnificent 5,650 sq. ft. of living space. The 20 foot ceilings in the great room and the enclosed lanai make this home feel like it is even bigger. 3 wet bars, two 2 car garages, 1,350 sq. ft. storage/workshop, a wine cellar, this home has it all.
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 569 Kaleo Place Kihei $975K (FS) |
Motivated seller. Located near the top of Maui Meadows on a quiet and private cul-de-sac. This house along with detached cottage & ohana sits high above the houses in front of it to give you the most amazing panoramic five island views. Large in-ground heated pool with outside shower and cabana room on lower level.
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Ho'olei F-4
Wailea $2.19M (FS) |
Short Sale. Welcome to Ho'olei, Wailea's newest premier development. Enjoy amazing views from this professionally decorated 3 bedroom 3.5 bath unit. Prime location featuring Ocean, Mountain and Golf Course views. Unit is truly Turn-key, ready to live in or keep in Grand Wailea's Rental Program. |
 Koa Resort 1B Kihei $210K (FS) |
Bank Owned. Ground floor 1 bedroom 1 bath unit in Koa Resort, building 1.
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Bank Owned. If you're to get any closer to the ocean you be able to jump in from your lanai. Big ocean views from this 3rd floor studio corner oceanfront unit. This is an REO property. |
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 Kapalua Golf Villas 11T6,7 Kapalua $499K (FS) |
Private location with closest proximity to Kapalua Bay Course and Pineapple Grill. Most desirable "Trellis" one bedroom unit with easy street level access. Offering two full baths.
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 Mahana #312 Ka'anaplai $615K (FS) |
Ocean, island & West Maui coastal views await you at your newly renovated Mahana studio. Located in the southern Lanai building, this 3rd-floor , spacious, studio condominium offers direct ocean frontage. Renovated in 2008, the upgrades include new custom kitchen cabinetry, granite counters, custom island furniture, drapes, flat screen and television.
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This Stunning condo, has been completely renovated, travertine stone, mesmerizing granite slap counters, mahogany cabinetry, with accented bamboo ceilings, artistically designed with many custom features, hand crafted lighting, showers enhanced with lovely inlaid onyx hibiscus flowers and onyx whales, are just a few of the many artistic additions. |
 Kihei Shores A-002 Kihei $182.9K (FS) |
Bank Owned. Lower level upgraded bathroom & kitchen with granite counter top. Must see to appreciate. Across the street from world famous Kamaole III beach park. |
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 Iao Parkside 25-102 Wailuku $230K (FS) |
Short Sale. Ground-floor 3 bedroom, 2 bath with covered lanai and yard. Available for immediate occupancy as unit is vacant. 2 side by side parking stalls included with the sale. |
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 Kai Malu 18A Wailea $881.9K (FS) |
Bank Owned. Luxury 3 bedroom 2.5 bath townhome in Wailea. |
 Honolua Ridge Lot 18 Kapalua $1.05M (FS) |
Short Sale. Honolua Ridge Phase I Lot 18. Over five and a half acres situated above the Plantation Golf Course in the Kapalua Resort. |
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