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| Issue 306 | Jan 13th, 2009 |
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| Aloha ,
In this newsletter:
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Market UpdateAre you looking to buy Distressed Properties? During the past months, we have written about many properties facing foreclosure such as Short Sales or those that had already been foreclosed on, i.e. Bank owned properties, or R.E.O's as they are commonly referred to. We commend those of you who have had the courage to buy real estate during these tumultuous times. We know there are many naysayers and doomsayers out there who might think you are crazy, but we are not one of those. We feel that in the long run, you will be well rewarded for your actions. Most of the Distressed Properties we have reported on have been in the low to middle end of the market, i.e. under $1 million. Recently, it has come to our attention that some Sellers are now walking away from very expensive luxury properties. Here is an example of a home in Makena that is over 90% complete with over $4.7 Million owing on it, yet the owner is willing to lose all of his equity to ease his cash flow burdens. Another very wealthy investor is willing to take 50 cents on the dollar on projects from a few million up to sixty million. If you would like more details about some of the higher end distress sales, please let us know. Have a great week! Mahalo Nui Loa, The Smith Team P.S. Interest rates have never been better. Today, 30 year fixed rate loans for purchases are at 4 5/8% with 1 point based on FICO score of 740 or higher, LTV 80% or less, and 45 day lock. For refinances, add 1/8% to the interest rate and the lock is for 60 days. Contact us to be put in touch with a Nationwide lender who offers the best service and pricing available. 
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
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Market Watch for January 12th, 2009
| Active | Pending | Sold | Change | |
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| Homes | 1066 (467) | 82 (11) | 897 (161) | -4 |
| Condos | 1684 (372) | 97 (14) | 764 (209) | +17 |
| Land | 570 (180) | 17 (6) | 96 (34) | +4 |
| Total | 3303 (1014) | 192 (33) | 1771 (403) | -48 |
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1. The numbers in parentheses reflect the number of listings over $1M |
 2146 Polipoli Road Kula $1.275M (FS) |
Privacy and tranquility with unobstructed panoramic bi-coastal views in upcountry Maui. 5+ acres with house and brand new cottage surrounded by pastures and wooded land with no other houses in sight. Located near the end of a charming country road above Wailea resort at approx. 3,500 ft. elevation.
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Spectacular new executive home perched high above the world-famous Ka'anapali Beach Resort. Great ocean views, high ceilings, completely furnished with high end decorator touches and art. African mahogany doors and accents throughout the spacious open floor plan of over 3,000 sq. ft.
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Incredible opportunity to purchase estate property in Napili. Less than 300 feet from the ocean, this property is set up as a three unit compound with top of the line amenities and views. An extensive remodel has been completed. This property has the capacity to sleep 18 with gated parking for six large vehicles.
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Oceanfront house on desireable Halama Street, with covered lanai for entertaining and watching the spectacular sunsets. Two guest quarters, each with seperate entry. Strong and legal sea wall with no state land issues.
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Largest lot in the Ka'anapali Golf Estates commanding more than 300 linear feet of ocean view frontage. Indoor-outdoor living at its best. Four suites all open up to the sprawling ocean views. Gourmet kitchen, dining room, great room, huge outdoor lanai and swimming pool all have panoramic ocean views. Sourrounded by lush tropical foliage, this single-level estate offers the utmost in privacy indoors and out.
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A magnificent estate of unparalled beauty situated in an unsurpassed location just minutes north of Ka'anapali resort and just south of Kapalua resort. "Hale Malia" is West Maui's most secluded gated oceanfront community offering true Hawaiian ambience. One of only six exquisite oceanfront sites set in a bed of lava rock just above a lovely sandy beach.
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 861 Mahealani Street Kihei $379.9K (FS) |
Bank owned. Excellent buy in well kept subdivision. House has been spruced up recently. Granite counter tops. Tiled kitchen/dining area. Wood floors in living room. AC units in each room. Solar hot water heater.
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Bank owned home is desirable Upcountry subdivision. Great opportunity for first time home buyer. Property is in good shape and to be sold strictly as is. |
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 3031 Kauhale Street Kihei $589K (FS) |
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.. The kitchen has been completely remodeled in 2007 w/ granite counter, travertine floors, upgraded cabinets, and track lighting.
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 2516 Omiko Place Kihei $644.9K (FS) |
Bank owned. Large 2-story home. 3 bd. 2 bath upstairs with large deck and partial ocean view. 2 bd. 1 bath downstairs adjacent to the saline pool and spa. There is also an unpermitted studio apartment of approx. 477 sq. ft..
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 60 Hua Nui Way Kahana $895K (FS) |
This home is virtually brand new. While completed in 2004, the owners only occupied the home for a short time. Custom designed featuring a gourmet kitchen, granite countertops, hardwood floors, stone and tiled baths and crown molding. This home is in a very private gated community just steps from the ocean.
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Ho'olei S-2
Wailea $1.695M (FS) |
Ho'olei is Wailea's new luxury planned community, located directly across from the Grand Wailea Hotel Resort and Spa. This exclusive neighborhood is comprised of 120 town homes. This 3 bedroom, 3.5 bath home offers a private entry and attached garage. You will feel right at home with features such as a private elevator, a gourmet kitchen with Wolf and Sub Zero appliances, and Snaidero cabinets. |
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Puamana 240-4
Lahaina $2.395M (FS) |
Rare 4 bedroom 3.5 bath tri-level oceanfront Puamana home with stunning ocean view. |
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bank owned. Beautiful oceanfront complex with small sandy beach, pool, and tennis court. Relax and enjoy this one bedroom one bathroom ground floor condominium overlooking the pool and out to a side ocean view. Nice and clean and ready to move in or put into vacation rental pool. |
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 Maui Vista #2420 Kihei $321.1K (FS) |
Bank owned. Best 2 bd. deal in the entire complex. Great rental potential. Unit features, ceramic tiles, berber carpet and granite counters! Maui Vista has terrific amenities including 3 pools, BBQ area and 6 tennis courts!
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 Haleakala Shores B-202 Kihei $350K (FS) |
Great Location across from the Kamaole beaches. Great unit on the quiet side of the building. Large covered patio, 2nd floor, and just steps from the parking area. |
 Southpointe 6-202 Kihei $279K (FS) |
Absolutely stunning 2 bedroom / 1.5 bath condo w / amazing details and materials. Hands down one of the nicest units in entire complex. Features include:Gourmet kitchen with custom built African Mahogany cabinets which are accented with copper panel inlays, mirrored walls, built in desk, built in wine chiller, water filtration system, upgraded appliances, hidden storage areas throughout and so much more. |
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 Iao Parkside 30-201 Wailuku $289.9K (FS) |
Bank owned. Clean 3 bd. 2 bath upstairs corner unit with views of West Maui Mountains. Wood floors, ceiling fans, and window a/c unit. All appliances are there, refrigerator, range, dishwasher and microwave. |
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 Pacific Shores A-313 Kihei $299K (FS) |
Top floor unit with two parking stalls and a bit of an ocean view. Across the street from Charlie Young and Kamaole Beach One and only minutes away from shopping, restaurants, grocery stores and boutiques. Remodeled kitchen with granite counters, new cabinets and appliances. |
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 Leinani Apts #108 Kihei $355K (FS) |
Beautifully remodeled 2 bedroom 2 bath condo. New Brazillian kitchen cabinets, a/c, etc. |
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