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| Issue 363 | February 16th, 2010 |
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| Aloha ,
In this newsletter:
REO Properties
Short Sales |
Makena on My Mind
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Market Update
There has been a lot of talk about "Shadow Inventory" recently. This refers to properties with delinquent mortgage loans.
It is currently estimated that there are 7.7 million properties with delinquent mortgages, and that over half of these, approximately 5.5 million will end up being foreclosed on in the next two years.
According to a new study by John Burns Real Estate Consulting, the "Shadow Inventory" will not hurt the market because there is strong investor demand.
This has certainly been the case here on Maui, where well priced REO or short sale listings are receiving multiple offers.
An example of that was a 3 bedroom 2 bath 3 year old starter home in Wailuku where the price was reduced to $299,999. Within only a few days there were 14 offers, most of which were above the asking price.
Have a wonderful week!
Mahalo Nui Loa,
The Smith Team P.S. Tired of the snow. Come warm up in beautiful, warm, sunny Maui. It's a great day to be living in Paradise.
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 15th, 2010
| Active | Pending | Sold | Change | |
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| Homes | 900 (399) | 237 (23) | 720 (96) | +2 |
| Condos | 1401 (261) | 226 (12) | 802 (113) | +4 |
| Land | 543 (160) | 41 (11) | 118 (31) | +3 |
| Total | 2844 (820) | 504 (46) | 1640 (240) | +9 |
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1. The numbers in parentheses reflect the number of listings over $1M |
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A Tim Farrington designed classic Hawaiian style home in the gated community of Wailea Kai, a short walk to wonderful Keawakapu Beach. Quiet cul-d-sac setting with lush tropical landscape, this is one of the largest homes in the area at 3,923 sq. feet.This elegant residence has vaulted cedar ceilings & gleaming natural marble floors which reflect the quality of construction found throughout the home. |
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This custom home completed in 2006 has it all! Perfectly located within the prestigious summit Estate high about the world famous Ka'anapali Beach Resort. The spacious floor plan of 3564 sq. ft. is designed to capture full island, ocean and sunset views. Flowing travertine floors and custom tile work finish the home with distinctive island flair. |
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This beautiful custom built home is located on the 13th tee box of the world renowned Kapalua Bay Golf Course. Home has 3 private suites and a huge family room that opens to spacious deck, pool and spa with Kapalua Rock waterfall. |
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This stunning, sprawling single-story, new 4-bedroom home is located on an almost 8-acre front-row estate on the edge of a deep ravine for total privacy. Finished with uncompromising quality, this home has African Wenge wood floors and multiple pocket and bi-fold doors to bring the pristine outdoors in. The homes distinguishing feature is the spectacular, panoramic oceanviews of Lanai, Molokai and the incredible Kapalua sunsets in between. |
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Bank Owned. Open and spacious 4 bedroom / 2 bath single level home in Kahana Ridge. Upgrades include laminate flooring and new paint in the interior and garage. |
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 19 Kahana Place Kahana $619.9K (FS) |
Bank Owned. Large 3,405 sq. ft. home permitted for 5 bedrooms and 3 baths, many interior improvements have been added without a permit.
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Short Sale. A total of 4,144 sq. ft. including 5 bd. 4.5 baths plus a study/office and family room are included in this home which is one of the largest in Kahana Ridge. Enjoy ocean views from the mega sized first floor greatroom as well as extended views of Molokai from the second floor. |
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 3894 Mahinahina Street Kahana $949K (FS) |
Magnificent ocean views, spectacular Maui sunsets and a spacious open living area accent this tastefully upgraded Mahinahina pool home. There are numerous upgrades, which include solar water heating, granite counter tops, cherry wood cabinets. The home is is offered fully furnished. This property is located just minutes from historic Lahaina Town, and walking distance to one of Maui's best surfing beaches (S-Turns).
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Kapalua Bay Villas 30G3-5
Kapalua $1.995M (FS) |
You'll love the stunning ocean views from this great Kapalua oceanfront 2 bedroom, 3 bathroom condominium. Location, location, location. This precious single level property has arguably the best location at the Kapalua Bay Villas. Extremely popular vacation rental unit. |
 Kahana Villa F-401 Kahana $475K (FS) |
Corner unit with extra windows and light. Nice ocean view from the living room and master bedroom suite. Upgrades to kitchen and baths. This unit is completely furnished and rental ready or great for owner occupancy. Property has all the resort amenities including pool, Jacuzzi, bar-b-que area and cabana, tennis courts and across the street from Kahana Beach.
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Penthouse, 12th floor studio, located at the beautiful Whaler on Kaanapali Beach now available at an affordable price. Enjoy beautiful views of the Pacific Ocean and Lanai. The Whaler on Kaanapali Beach offers amenities that include an ocean view pool along the famed Kaanapali Beach walk, spa, sauna, workout gym, salon, underground parking, and a business hub center. |
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 Wailea Ekolu #407 Wailea $599.9K (FS) |
Short Sale. Great views, excellent rental potential in this 1 bedroom 2 bath Wailea Condo in one of Wailea's most desired complexes.
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 Lokelani A-205 Wailea $675K (FS) |
Incredible oceanfront location. 2 large lanais: one lanai accesses from the living area and the second full size lanai off of the master bedroom. A large owners storage closet, a wet bar and beach access make this a great second home or vacation rental property. Year around sunsets with views of both Molokai and Lanai.
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 Mount Thomas #204 Wailuku $135K (FS) |
Bank Owned. Ocean, harbor and mountain views. 2 bd. 1.5 baths remodeled inside. Super clean. |
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 Wailea Fairway Villas N102 Wailea $499.9K (FS) |
Pet friendly complex. This 2 bedroom, 2 bath unit offers excellent ocean & golf course views. Wailea Fairway Villas offers great amenities including a pool, fitness facility and owners pavilion with BBQ/ kitchen. |
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 Ke Alii Ocean Villas F-102 Kihei $510K (FS) |
Enjoy living in this spacious luxury condominium, just across the street from the beautiful Kamaole 1 Beach Park. Amenities include an enclosed garage, central air, granite counter tops, GE Profile stainless steel appliances and many more. A fully equipped fitness center and a saline infinity edge pool also included. |
 68 Keoneloa Street Wailuku $124K (FS) |
Bank Owned. Large vacant lot in Sandhills Estates. |
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