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Market Update
According to Wall Street Journal, the Federal Housing Finance Agency announced on Tuesday that they will make "short sales" of underwater homes easier for homeowners, including helping people who have financial difficulties but haven't missed a mortgage payment.
As a real estate agent, I have dreaded short sales that have a 1st and 2nd mortgage for it takes much longer to get an approval than when dealing with just one lien holder. A majority of the time, the mortgage holders are haggling over the amount that they will get from the home-sale proceeds.
One part of the plan from Fannie and Freddie is to place a $6,000 cap on the amount of money that the 2nd mortgage holder receives when the sale is complete to prevent this from happening. This plan goes into effect on November 1st.
Mahalo Nui Loa,
Greg, Melissa, Ken, and Jeremy
P.S. - Tickets for the Maui Invitational in Lahaina will go on sale starting tomorrow. Visit www.mauiinvitational.com. The NCAA basketball teams playing this year include host Chaminade, USC, Illinois, Butler, North Carolina, Texas, Mississippi State and etc.
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
Market Watch for August 20th, 2012
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Active |
Pending |
Sold |
Change |
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Homes |
510 (237) |
261 (21) |
901 (126) |
-4 |
|
Condos |
804 (159) |
222 (9) |
1171 (71) |
+10 |
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Land |
411 (99) |
31 (4) |
140 (17) |
-8 |
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Total |
1725 (495) |
514 (34) |
2212 (214) |
-2 |
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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
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4366 W. Waiola Street
Wailea
$2.95M (FS)
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Fantastic location perched above the first fairway of the Old Wailea Blue Course. This custom residence exemplifies the Wailea lifestyle at its finest. Gorgeous mountain and ocean views clear out to the Molokini crater and island of Lanai. Recently completed in 2010, this home consists of over 6000 interior sq. ft. thoughtfully designed for entertaining friends and family. The Wailea Golf Vistas community is walking distance from Polo Beach, Fairmont Kea Lani, and the Four Seasons Wailea.
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665 Hana Highway
Kuau
$6.45M (FS)
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Highly individual, understated elegance and masterful craftsmanship in every detail describe this stylish residence. You feel immediately welcomed by the warmth of the sophisticated interiors accented by the most exquisite tropical wood features. Privacy protecting lush vegetation frames some of the most intimate and beautiful ocean views found on Maui. The salt water infinity pool seemingly flowing into the seascape, indoor flowing into the outdoors... easy living realized gently cooled by the Tavares Bay sea breeze.
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Homes Under $1M
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752 Noholani Street
Haiku
$245K (FS)
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Charming 1930's era plantation house. Second bedroom has been separated into 2 rooms. Detached laundry room and detached bonus room. Attached carport. Spacious kitchen and large bathroom.
Customer Listing Synopsis
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715 Kilihau Street
Wailuku
$310K (FS)
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Short Sale. 3 bedroom 2 bath home located in a peaceful and family oriented neighborhood. Custom rock retaining wall in the front of the house with ocean views from the living room.
Customer Listing Synopsis
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263 Ilikai Street
Kihei
$385K (FS)
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Located in the first subdivision on the north end of Kihei offering convenient access to Kahului and Wailuku is this charming 2-story single family home. The Seller recently painted the exterior, interior and added wood laminate flooring upstairs; some other updates would be required to make this house sparkle once again.
Customer Listing Synopsis
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12 Upper Kimo Drive
Kula
$725K (FS) |
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Short Sale. Massive Kula house and cottage with ocean and mountain views! Creative floor plan with lots of options. Rarely does a property with this much rental potential become available. Features include cathedral ceilings, granite counter tops, and gorgeous hardwood floors with native Hawaiian hardwood. Beautiful fireplace with wood mantle. Huge tatami room with ocean views - perfect for yoga/meditation/martial arts.
Customer Listing Synopsis
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262 Kulipu'u Place
Kihei
$749K (FS) |
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House and Cottage in a great Kihei location within the Ke Alii Kai subdivision of quality homes. This property is close to schools, shopping and just up the street from Kamaole III beach park.
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Vacation Condo Over $1M
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Polo Beach Club #208
Wailea
$1.975M (FS)
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This is a true gem - beautifully remodeled, nestled amid lush tropical landscaping, with a gorgeous view of the white sand beach and the island of Lanai beyond. You know all the superb Polo Beach attributes: Incomparable beachfront location, superior concrete construction, underground parking, central air, beach side pool and spa, and especially, enduring value.
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Vacation Condos Under $1M
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Kihei Holiday #117
Kihei
$215K (FS)
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Footsteps from the Sea! Long walks on the sand and breathtaking sunsets are only a crosswalk away. Located across the street from the ocean and minutes away from almost everything, Kihei Holiday is perfect for that laid back beach style living. The home offers two bedrooms and one bathroom as well as a spacious covered lanai.
Customer Listing Synopsis
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Kauhale Makai #329
Kihei
$265K (FS)
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Beautifully remodeled, ocean view condo. This 712 sq. ft. 1 bd. 1 bath unit comes fully furnished with quality furniture, high-end appliances, including Fisher, Paykel, and Whirlpool Gold.
Customer Listing Synopsis
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Kapalua Ridge #1812
Kapalua
$489.9K (FS)
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Bank Owned. 1 bd. 2 bath, 1,125 sq. ft. condo is sold fully furnished for you to move in or rent out as a vacation rental. It sits next to the 7th hole on the 8th fairway of the famous Kapalua Bay Golf Course. From the 229 square foot lanai you can watch golfers play and be part of the gallery, or just soak in mountain and ocean views. Virtual Tour.
Customer Listing Synopsis
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Residential Condos
Puuone Towers #412
Wailuku
$135K (FS) |
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Beautiful apartment at the Puuone Towers and Plaza, Apt. #412 has 2 bedrooms & 1.5 baths & has been lovingly cared for. It's spacious, fresh, clean, & has new kitchen cabinets, carpet, paint, & jalousies. Covered lanai has new floor covering & is a great place to sit and enjoy the fabulous Ocean and Waihee Valley Mountain views.
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Hoonanea at Lahaina #417
Lahaina
$364.2K (FS) |
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Developer Deal. Brand new construction. In the heart of Lahaina. Walking distance to the Beach, Shopping Centers, and Historic Front St. Community is Pet Friendly. This townhome has a single car garage and an additional assigned parking stall.
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Wailea Fairway Villas X-202
Wailea
$539K (FS) |
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Located on the Wailea Blue Course, this second floor unit boasts beautiful Pacific ocean and golf course views. Luxurious features include granite countertops, vaulted ceilings, and French doors into the master bedroom.
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Hokulani Golf Villas #48
Kihei
$1.0389M (FS) |
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Developer Deal. Sit back and enjoy the expansive green fairways and water features from your private upstairs lanai with panoramic views of the West Maui Mts and Maalaea Bay. Where can you find a two-story home encompassed by unparalleled natural beauty at Hokulani Golf Villas Phase II. Surrounded by the beautiful Elleair Golf Course this GATED community offers the best of both worlds, single-family residential homes with the carefree ease of a condominium lifestyle. Perfect for that second home or year round living as some owners have made it.
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Vacant Land
521 Kualau Street
Wailuku
$290K (FS) |
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Beautiful vacant lot located in Wailuku Heights with Haleakala, ocean, and mountain views. Seller has topo map and preliminary specs with schematic floor plan available for Buyer.
Customer Listing Synopsis
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