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| Issue 330 | June 30th, 2009 |
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| Aloha ,
In this newsletter:
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Country Charmer
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Market Update
The market is definitely heating up over the last two months. As of last Friday, our company had 50 new escrows, which was 4 more than the previous month, and 20 more than in June 2008. A significant number of these new escrows are for properties in the $1 Million plus range.
It is still a Buyer's market, and the increase in sales, in our opinion, is due primarily to the following three factors: sellers are becoming more realistic with their pricing; there has been an increase in the number of Short Sales and Bank Owned properties listed for sale; and concern from buyers about future increases in interest rates.
Last Thursday, we listed an REO condo at Southpointe for $144,900. We were deluged with calls for showings, and before the dust settled, we had 3 offers, one of which the bank has tentatively accepted.
Our newest REO listing will be going in to the MLS in the next day or two. This 5 bedroom 3 bath home at 1361 Kilou Street in Ocean View Estates previously sold for $800,000 in 2006. It will be listed for $537,900. At this price, we expect to have multiple offers within days of listing the property. Please contact us immediately if you have an interest in this home.
Mahalo Nui Loa,
The Smith Team P.S. Some good friends of ours are selling their beautiful oceanfront vacation rental, Hale Kakahi, on the Big Island with asking price of $1.5 Million. If you have an interest, please let us know, and we will put you in touch with someone who can help you. If you prefer, you may contact the Listing Agent directly and mention you heard about it on the Smith Team's Newsletter.
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 29th, 2009
| Active | Pending | Sold | Change | |
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| Homes | 1017 (417) | 151 (18) | 716 (116) | +17 |
| Condos | 1547 (294) | 148 (11) | 554 (119) | -4 |
| Land | 620 (181) | 43 (19) | 80 (31) | -2 |
| Total | 3184 (892) | 342 (48) | 1350 (266) | +11 |
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1. The numbers in parentheses reflect the number of listings over $1M |
 3390 E Lani Ikena Way Wailea $1.264M (FS) |
Gorgeous ocean and Molokini views crown this home as the best ocean view deal in Wailea, in the prestigious gated community of Wailea Pualani. High ceilings and open living areas welcome you as you enter this lovely home. The sounds of a cascading waterfall in the swimming pool invite you out of doors to your large tiled lanai and grassy back yard. |
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Bank owned! Outstanding beachfront home. Located in Central Kihei, this world class architectural property has a lot to offer. Featuring four bedrooms, four and-a-half baths, over three thousand square feet of living area, this is your piece of paradise. Beach frontage right outside your back door. Views from every room. |
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Bank owned. Two story home in Meadowlands, fenced property. Walking distance to all your amenities. |
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 2841 Pu'u Ho'olai Street Kihei $659K (FS) |
Pristine house and cottage on a cul-de-sac. Nicely upgraded since last sale including granite, tile, carpets and a new den/office w/ full bath. Could be used as three rentals with a non conforming configuration.
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Short sale. The bank has approved price and must move forward. This house is a must see, vacant and easy to show. Come home to this fabulous 4 + bedroom 2.5 bath home in the gated community on The Dunes Golf Course. Enjoy the amenities of the private golf course and the luxury of The Bluffs at Maui Lani. |
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Bank owned. Here's the deal you were waiting for. Great price for this neighborhood. Ocean views from the front of the house, and ocean views from the back of the house. Nice floor plan, walk in closet off the master bedroom. Located at the end of a cul-de-sac. Catches the trade winds just perfectly. |
Ho'olei T6
Wailea $1.8M (FS) |
Relax and enjoy the privacy that the location provides of this 3076 square feet 3 bedroom, 3.5 bath Ho'olei condominium. Ho'olei offers a unique fusion of tropical beauty and luxury lifestyle awaiting you in the heart of Maui's most sought after resort area, Wailea. For those seeking the privacy of an upscale residence with the ease of a condominium, the exclusive Ho'olei in Wailea, Maui offers the utmost in modern luxuries, a stunning, natural backdrop and lavish resort amenities. |
 Napili Ridge I-14 Napili $69.9K (LH) |
Bank owned. 1 bedroom 1 bath. Forget the short sales. vacant and on lock box. Property needs a TLC.
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 Kamaole Sands 8-105 Kihei $550K (FS) |
Great opportunity to own a 2 bedroom 2 bath single level condo at one of the most desirable vacation rental complexes in South Maui. Located across from Kamaole 3 beach, walking distance to popular restaurants and shopping, and within 2 miles of the Shops of Wailea. The community has pools, spas, tennis courts, BBQ areas, workout room and much more. Seller will also consider a 50% ownership in this property. |
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 Grand Champions #165 Wailea $565K (FS) |
Outstanding location on the Wailea Blue golf course and ocean views. This is a highly sought after condominium. Great lanai for enjoying your morning coffee or toasting the sunset. Pool, hot tub, & BBQ's are just a short walk away and you are located close to all of the beautiful beaches and amenities of Wailea. A well maintained, very popular vacation rental unit.
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 Wailea Ekolu #307 Wailea $779K (FS) |
Excellent ocean views from this first level, 2 bedroom, 2 bath Wailea Ekolu condo. Enjoy beautiful sunset views over Molokini from this upgraded residence situated on the 15th green of Wailea's "Old Blue" golf course. Upgrades include granite kitchen counters, tiled floors, and a remodeled bath. Wailea Golf membership is available with ownership. Sold furnished.
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 Southpointe 10-103 Kihei $144.9K (FS) |
Bank owned. 2 bedroom 1.5 bath gound floor unit with private side yard. Condo to be professionally painted and recarpeted within the next few weeks. |
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 Napili Villas 10-1 Napili $424K (FS) |
Bank owned. Clean and ready to move in. Ground floor spacious corner unit with private yard. 3 bedroom 2 bath 1,094 sq. ft. of living area. Walking distance to Napili Market and close to all other amenities. |
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 Villas at Kahana Ridge #234 Kahana $438.9K (FS) |
Bank owned. 3 bedroom 2 bath 1,327 sq. ft. of living area. Great opportunity for first time buyer or investor. Property needs a little work |
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 Wailea Fairway Villas Y-103 Wailea $899K (FS) |
Short sale. Ocean View on Wailea Blue golf course. Wonderful 3 bedroom 3 bath townhome. Great value plus prime location within complex. |
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