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Issue 365 |
March 2nd, 2010
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Market Update
Market is definitely heating up. February was the strongest month for our Company in 3 years. We opened 74 new Escrows. In fact, this is the first month since 2007 that we have exceeded 70 new Escrows in a single month.
The drop in inventories over the last 6 months coupled with increases in the number of sales is a precursor towards market appreciation. We haven't seen that happen yet, but mark our words, it is around the corner.
Smart investors realise that it is impossible to time market bottoms exactly; and if you try, you often end up missing a significant rise in prices. The time to act is now while interest rates are still low, and inventory is still available at bargain basement prices.
Have a wonderful week!
Mahalo Nui Loa,
The Smith Team
P.S. Are you looking for a great deal on Kauai? A magnificent 5.79 Acre Ocean Bluff-Front Estate with home and guest house will be auctioned off next Monday. Previously offered for $9.95 Million, the reserve price is only $2 Million. Call or e-mail us for more details.
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
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Market Watch for March 1st, 2010
| Active | Pending | Sold | Change |
Homes | 896 (395) | 229 (27) | 732 (96) | -1
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Condos | 1400 (260) | 251 (13) | 803 (113) | -1
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Land | 536 (153) | 43 (12) | 119 (32) | -5
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Total | 2832 (808) | 523 (52) | 1654 (241) | -7
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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
75 Ikena Kai Place
Kula
$1.999M (FS)
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Old Hawaii style home in the Kula's most prestigious gated neighborhood of Omaopio Ridge.
Separate guest quarters. Commercial quality greenhouse. Great bi-coastal view.
Customer Listing Synopsis
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404 Wekiu Place
Ka'anapali
$2.39M (FS)
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Magnificent views from this front line Summit location. This residence has been
maintained impeccably and is being offered turnkey. A unique floor plan offers
great privacy. The Master Suite is located on the main level. A second suite is
located above. Two additional guest suites are located on the lower level, which
opens to a large heated swimming pool and spa.
Customer Listing Synopsis
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127 Aleiki Place
Kuau
$4.5M (FS)
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Located on Kuau Point overlooking Kuau Bay and the world famous windsurfing
beach, Ho’okipa, this private oceanfront estate is truly the most unique
property on the North Shore of Maui. This house is hexagonal in shape with 180
degree ocean views from the northeast to the West Maui Mountains. Virtual Tour.
Agent Listing Synopsis
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Homes Under $1M
952 Kahealani Street
Haiku
$285K (FS) |
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Short Sale. This is a 3 bd. 2 bath home is located within walking distance to Haiku town.
It is currently used as two 1 bedroom units and a studio. There is a brand new 3
panel solar water system and a metal roof that is less than 5 years old.
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40 Puia Place
Makawao
$590K (FS) |
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Short Sale. Fantastic rental potential. Convenient location in desirable neighborhood w pool
and tennis court in Maui Uplands. Main house has 4 bedrooms 2 baths upstairs,
with a separate 1 bedroom,1 bath downstairs with a full kitchen and separate
attached mother-in-law studio/office with private bath.
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93 Moana Avenue
Kihei
$769K (FS)
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Short Sale. Experience the premiere neighborhood of Moana Estates. This upgraded home
features 5 ample bedrooms and 4 full baths. Upgrades include new carpeting, new
window coverings throughout, maple cabinets, solar panels, central A/C and beautiful landscaped yard with 6 foot retaining wall.
Customer Listing Synopsis
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2850 Omaopio Road
Kula
$850K (FS)
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Short Sale. One of the best pieces of Upcountry property. On Omaopio Rd. at 1400 ft
elevation. A beautiful estate with Hawaiian koa wood cabinets and floors
throughout, private tennis court, huge 2,400 sq. ft. warehouse, organic garden, all
overlooking bi-coastal ocean and mountain views. Slate Clad walkways on patios
and driveway. Specimen Canary Island Date Palms, avocado, Breadfruit and
Starfruit trees.
Customer Listing Synopsis
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Vacation Condos Over $1M
Makena Surf B-303
Makena
$2.345M (FS)
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Fantastic Beachfront 2 bedroom 2 bathroom top floor unit in the “B” building at
Makena Surf. This renovated unit offers wonderful ocean, beach and outer island
views from the living room, dining room, kitchen and lanai. Makena Surf offers 4
tennis courts, 2 pools and BBQ areas.
Customer Listing Synopsis
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Vacation Condos Under $1M
Kihei Gardens Estates C-207
Kihei
$265K (FS) |
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Bank Owned. 2 bd. 2 bath across the street from the beach. Kihei Garden Estates is walking distance
to many amenities including all major banks, fine dining, Safeway and Star
Market, Borders Express, Starbucks and more.
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Lauloa #410
Ma'alaea
$324.9K (LH)
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Bank Owned. Direct oceanfront 2 bd 2 bath. Come and enjoy the sunsets and ocean breezes. Walking distance to restuarants, shopping, and Maui Ocean Center for
entertainment.
Customer Listing Synopsis
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Ka'anapali Royal D-102
Ka'anapali
$514.8K (FS) |
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Bank Owned. Here is your chance to buy in the heart of world famous Ka'anapali resort, but
tucked away in a quiet, private location. Kaa'napali Royal is a wonderful, well
maintained property. This unit situated on the golf course with no road or pool
noise.
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Kapalua Golf Villas 14P 3,4
Kapalua
$639K (FS) |
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This 2 bedroom, 2 bath unit is located on the 10th Fairway of The Bay Course.
You can enjoy the breathtaking sunsets all year 'round. The unit is walking
distance to the beautiful beach at Kapalua Bay, restaurants and the spa.
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Royal Mauian #419
Kihei
$759K (FS) |
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In 2004 this unit went through a wonderful renovation that includes new kitchen
cabinets, granite countertops, tile floors, appliances and dropped ceiling with
soffits with perimeter lighting. Bathrooms have new vanities, granite
countertops, toilets, etc. Ocean views
from the lanai and master bedroom.
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Residential Condos
Kanoe Apartments #204
Kihei
$135K (FS) |
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Bank Owned. Second floor unit at Kanoe Apartments. A two story building with only 18 units.
1 bd. 1 bath corner unit, walking distance to Cove Park for great surfing and
bbq-ing.
Customer Listing Synopsis
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Southpointe 7-104
Kihei
$145K (FS) |
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Short Sale. Excellent opportunity on 2 bd. 2 bath downstairs Unit with tandem parking spaces
directly in front. Unit has been upgraded with pergo flooring throughout and
tiled entry & kitchen. Nice size fenced yard, great for gardening &
pets.
Customer Listing Synopsis
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Haleakala Gardens 19A
Kihei
$149.2K (FS) |
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Bank Owned. Quiet location at the back of the building. This 3 bedroom 2 bath unit has
a nice grassy are off your front door, plus storage area.
Customer Listing Synopsis
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Vacant Land
65 Hulumanu Place
Wailiku
$349K (FS) |
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Take one of Maui's most scenic drives up to this gated, & private community.
This 3.16 acre lot is situated at the top of the subdivision, bordering conservation land
and featuring unobstructed, ocean and mountain views.
Customer Listing Synopsis
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