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| Issue 329 | June 23rd, 2009 |
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| Aloha ,
In this newsletter:
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Luxury Home Close to Wailea
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Market Update
Where will housing be in 2012? According to this well-written and researched article that appeared in Business Week, the overall market will drop further before bottoming out and returning to normal in 2012.
Of course, as the writer so aptly states, markets are localized. What may be true of Southern California real estate may not apply to the Salt Lake City market, where real estate prices are still 50% higher than they were in 2003.
We agree with this forecast. How will Maui fare in comparison to the overall expectations portrayed in this
article?
Hopefully, we will do better. If past history is any indication, the down cycle may last longer, but when the recovery occurs, it will be quicker and more pronounced.
Have a wonderful week.
Mahalo Nui Loa, The Smith Team P.S. Looking for a super deal on a Luxury Home? This may be the ideal time to make offers. You might be surprised by the kind of deal you can negotiate. Check out this fabulous home on Keawakapu Beach that just sold for $11.25M....well under market value and almost 40% below its asking price.
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
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Market Watch for June 22th, 2009
| Active | Pending | Sold | Change | |
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| Homes | 1000 (412) | 155 (18) | 726 (118) | -12 |
| Condos | 1551 (290) | 146 (11) | 559 (121) | +3 |
| Land | 622 (184) | 45 (19) | 78 (29) | -6 |
| Total | 3173 (886) | 346 (48) | 1363 (268) | -15 |
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1. The numbers in parentheses reflect the number of listings over $1M |
 30 Kui Place Ka'anapali $1M (FS) |
Short sale. "E Komo Mai", welcome to this beautiful Hawaiian style plantation home nestled within the heart of Ka'anapali Hillside. Given our excellent lot location, at the end of a quiet cul de sac, you will enjoy living in this very spacious home with beautiful bamboo flooring and excellent ocean views. Whether it is day or night you will enjoy lounging or entertaining on a huge covered lanai while watching majestic and serene sunsets over Lanai and Molokai. |
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Direct oceanfront home. Lot over 1/4-acre in size. Built with the highest quality materials. This three-bedroom, two-story single family residence also includes a one-bedroom guest suite. Built in late 2007, this is the second spectacular Hawaiian plantation-style residence located on Baby Beach. |
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 1189 Halepaka Place Lahaina $6.95M (FS) |
Spectacular Hawaiian plantation style residence located on Baby Beach in Lahaina. A short walk to Front Street for excellent dining, shopping and activities. Direct beachfront lot over one-third acre in size. Built with highest quality materials including a roof of 20 gauge copper. This 3 bedroom, 3.5 bath single family residence also includes a 1 bedroom, 1 bath guest suite. |
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Short sale. Elegant detail throughout with open kitchen for entertaining, beautiful master suite, plus two bedrooms, three full baths, and a beautiful manicured lawn with rock wall for privacy. Luxury features include split A/C system, granite counters, travertine flooring, tropical lighting package, and much more. Honu Alahele is a clean, quiet new neighborhood just a short walk to Sugar Beach, Maui's longest walking beach. There is also a very nice cottage with granite and travertine, A/C, cathedral ceilings, and an open kitchen. |
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 95 Alekanekelo Place Haiku $999.5K (FS) |
Understated elegance in a private country setting. Attention to detail shows throughout this home from the beautifully remodeled kitchen to the high ceilings and the generous use of windows to bring the outdoors inside. The cottage and house are so well separated that one hardly knows the other is there. In addition, there is a permitted storage area attached to the garage that looks amazingly like a studio apt.
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Ho'olei K-5
Wailea $2.5M (FS) |
One of 7 units at Ho'olei that are not Actively Listed, but are available for purchase. Owner will do seller financing or enter in to partnership with new buyer(s). Compare this to other units at Ho'olei, and you will quickly realise why this is the best buy dollar for dolar. Exquisitely furnished and in vacation rental program. |
 Kauhale Makai #127 Kihei $218K (FS) |
Short sale. Oceanfront completely renovated, easy access ground floor unit, perfect for the kite boarders that love this area: with a peek a boo ocean view, laminated wood floors and drywall throughout, tile in bathroom, spa bathroom tub, new kitchen cabinets, large owners closet.
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 Kihei Resort #108 Kihei $234.7K (FS) |
Short sale. Fantastic one bedroom, one bath ground floor condo. Bright, clean, and comfortable. Kihei Resort is beautifully landscaped with lush, tropical gardens and a great swimming pool. |
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 Aina Nalu K-203 Lahaina $350.1K (FS) |
Bank owned. In the heart of Lahaina town. 2 bedroom 2 bath upstairs unit. Granite kitchen counter tops, slate tile in the bathrooms, all appliances included, very nicely done.
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 Luana Kai B-303 Kihei $399.9K (FS) |
Don't miss your opportunity to buy this incredible 2 bedroom 2 bath vacation rental condo with amazing ocean views in an oceanfront complex. Enjoy watching the glorious Maui sunsets or the whales breeching in front of you. Relax in your well-appointed accomodations that include new upscale furnishings, new appliances and ductless split system air conditioning.
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 Paki Maui #423 Honokowai $734.9K (FS) |
Bank owned. Clean ocean view 2 bedroom 2 bath unit in Paki Maui
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 Royal Mauian #419 Kihei $859K (FS) |
In 2005 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. There is a slight ocean view from the lanai and master bedroom.
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 Kihei Shores E-102 Kihei $195K (FS) |
Short sale. Inner unit nearer to the pool/spa area of Kihei Shores. Priced right for a 3 bd. 1.5 bath unit with just over 1000 sq. ft. of living area. Perfect for first time buyer. Can't beat the location of this complex. Just steps across the street from Kamaole Beach III which is an excellent swimming and snorkeling spot in South Kihei. |
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 Iao Parkside 45-204 Wailuku $225K (FS) |
Short sale. Great shape all upgraded appliances, microwave, stove, fridge, dishwasher, and A/C. This is one of the last units built. 2 parking spaces right outside your door with great neighbors, great breezes and an even greater price. |
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 Haleakala Gardens 10E Kihei $235K (FS) |
Bank owned. 3 bedroom 2 bath upstairs corner unit, clean and ready to move in. All appliances are in: stacked washer/dryer, refrigerator, dishwasher, range. |
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 Wailea Palms #2503 Wailea $725K (FS) |
Wailea Palms best priced 2 bd. 2 bath fully furnished upgraded condo with partial oceanview. Check out this value which includes a VW convertible car. New appliances, remodeled kitchen and all new tiled floors. Beautiful leather living room furniture. Very private & quiet location with wrap around lanai and tropical flowers and lawn. |
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 Masters #3201 Ka'anapali $875K (FS) |
Short sale. This is a great opportunity to purchase a rare “D” floor plan overlooking the 9th fairway on the Kaanapali Royal Golf Course. The Masters is a one-of-a-kind gated condominium community with less than six units per acre of lush tropical landscaping. Luxury amenities include tennis courts, swimming pools, hot tubs and large park areas. |
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