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Issue 398 |
October 19th, 2010
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Market Update
Beacon Economics analyzed home affordability and came away feeling
optimistic.
Beacon Economics founding principal
Christopher Thornberg, whose firm advises a variety of business clients, says
the high level of affordability is likely to drive demand and reduce the stock
of excess inventory, ultimately resulting in the need for new housing, a rise in
prices, and a pickup in new construction.
"While
prices may fluctuate modestly over the next several months, we believe the worst
of the housing crisis is behind us," says Beacon Economics Research Manager
Jordan G. Levine. "We expect prices to stabilize around current levels and
likely be higher in the next 12 months."
Have a wonderful week!
Mahalo Nui Loa,
The Smith Team
P.S. Interest rates still at record low levels. Conforming loans are still in the low 4's with no points. Let us know if you'd like to be pre-approved for a loan, so you can be ready to jump when the right property comes along. Sometimes, it is all about timing...especially with REO listings.
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
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Market Watch for October 18th, 2010
| Active | Pending | Sold | Change |
Homes | 848 (317) | 221 (26) | 836 (107) | -2
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Condos | 1231 (217) | 247 (9) | 1127 (170) | -14
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Land | 577 (150) | 26 (7) | 131 (13) | -1 |
Total | 2656 (684) | 494 (42) | 2094 (290) | -17
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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
500 Aulii Drive
Pukalani
$1.499M (FS)
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Fabulous remodel of this cozy country home's great room with kitchen, dining
& fireplace sitting area. Granite & stainless steel accentuate rock
& wood finishes. Master suite w/his & hers bathrooms plus yoga/fitness
area. 3 additional bedrooms with spacious bathroom and built in wooden closets
upstairs. Gorgeous almost
4 acres of rolling meadows with mature trees complete the park like setting. Can
add 1,000 sq. ft. cottage with separate access from 295 Ho'opalua.
Customer Listing Synopsis
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39 Lahaole Place
Wailuku
$1.6M (FS)
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This spacious and elegant mansion sits on 2.25 acres of verdant meadow lands, at
1,100 ft above seal level and dominates 180 degree ocean and mountain views.
Enjoy the outdoor Jacuzzi, 25 meter solar heated lap pool and several picture
perfect lanais.
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Homes Under $1M
1801 Piihana Road
Wailuku
$190K (FS) |
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Short Sale. Single family home with detached ohana. Excellent rental potential for investor.
Plenty of off street parking.
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393 Kaiolohia Street
Kihei
$301.8K (FS) |
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Bank Owned. Nicely updated 3 bedroom / 2 bath home at Hale Piilani. It has a large deck out
back and mountain views.
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2715 L. Kula Road
Kula
$466.9K (FS)
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Bank Owned. Beautiful ocean views from this 4 bedroom / 2.5 bath home in lower Kula. The
upstairs level consists of 3 bedroom / 1.5 bath and the downstairs level has a 1
bedroom / 1 bath ohana. The open kitchen and living room lead out to a deck area
to enjoy the view.
Agent Listing Synopsis
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51 Ululani Road
Kula
$549K (FS)
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Seller financing available. Tucked up at the top of the long curving concrete driveway, this neat and clean
home is privately situated on two pastoral acres and backs up to large parcels
of grazing land. The first floor is comprised of the kitchen and primary living
space along with two bedrooms and a bath. A wood burning stove sufficiently
warms the room. Privately located on the upper level is the master bedroom with
bath and the office loft overlooking the great room.
Customer Listing Synopsis
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325 Kaupea Street
Makawao
$729K (FS)
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This house and cottage in Maui Uplands are both in excellent ready to move in
condition. Sitting on a hillside, it also offers unobstructed ocean and
Haleakala Crater views. An short walk takes you to the association pool and
tennis courts.
Customer Listing Synopsis
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Vacation Condo Over $1M
Makena Surf B-206
Makena
$2.485M (FS)
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Unmatched luxury beach front complex. "B" building commands highest rental
incomes, since it sits directly on the sand. The Beautiful low density complex
is gated, with tennis courts, 2 pools with spa's, and, of course, spectacular
year-round sunsets and spectacular whale watching.
Customer Listing Synopsis
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Vacation Condos Under $1M
Maui Banyan Q-106
Kihei
$234.5K (FS)
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Bank Owned. Lowest price unit at popular Maui Banyan. Located across from Kamaole Beach
Park. Walk to pristine sandy beaches, restaurants, and shopping. Ground floor
unit located near the back away from busy check-in and parking garage.
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Lahaina Road #209
Lahaina
$335K (FS)
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Bank Owned. Fabulous views of Lanai & Molokai. Sunsets & Sunrises at a great price.
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Kapalua Bay Villas 20G4
Kapalaua
$675K (FS)
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Wonderful oceanfront ground floor unit. Steps to beach close by. A/C included.
Tile floor, and in private rental program. This is above Oneloa Bay so very nice
north east views. Light and bright in the morning.
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Residential Condos
Kihei Villages
Kihei
$119K (FS) |
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Bank Owned. Great opportunity to own a 2 bedroom / 1.5 bath ground floor unit with a yard
for such a great value. Interior to be repainted and car will replaced before closing.
Agent Listing Synopsis
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Vacant Land
26 Lahaole Place
Wailuku
$295K (FS) |
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Priced for immediate sale, this is the best priced lot in this premier
agricultural subdivision. Owner financing possible with $125,000 down payment.
Gently sloping with commanding ocean and mountain views. This is an unmatched
opportunity to create your country estate or as an investment.
Customer Listing Synopsis
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