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Market Update
Making money in real estate is all about timing. Buy right, make money. Buy wrong, lose money. Yet how many of us are guilty of buying with our emotions rather than logic?
Boom and bust cycles have been around for longer than any of us can remember. If history tells us anything it's that real estate markets go up and down repeatedly. It's' the history of real estate markets. Is the cycle we're in right now any different? Absolutely not. Some may say that Maui's real estate market will never rebound. Nonsense.
Signs of a recovery have started to appear. Recovery won't happen overnight. But it will and is happening. So is now the time to buy? Here's some reasons why we say Yes:
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Record low interest rates won't last forever
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1990's prices in multiple segments of the market
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Extreme levels of pessimism abound
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Maui remains one of the most coveted vacation destinations in the world
Smart money continues to pour into Maui's bargain-priced real estate market. As this trend continues, our market is like a ship turning in the night. A new course is underway. But not everyone sees it. In a climate of extreme pessimism sometimes reality is confused with emotion. This is the "perfect storm," and savvy buyers are now purchasing Maui real estate at ground floor prices. Three to five years from today the fence-sitters will look back and want to kick themselves for not seizing the opportunity.
Have a wonderful week,
The Smith Team
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
 
Market Watch for September 19th, 2011
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Active |
Pending |
Sold |
Change |
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Homes |
693 (250) |
235 (29) |
865 (111) |
-6 |
|
Condos |
1005 (174) |
213 (10) |
1142 (105) |
-2 |
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Land |
517 (110) |
22 (7) |
130 (17) |
+4 |
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Total |
2215 (534) |
470 (46) |
2137 (233) |
-4 |
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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
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176 W Ikea Moku Place
Wailea
$1.395M (FS)
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Exceptional open floor plan with partial ocean views. Big back yard with private pool area and large lanais. This is an excellent opportunity to own your own home in Wailea.
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197 Plantation Club Drive
Kapalua
$4.2M (FS)
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Welcome to Plantation Estates. This elegant home with gated entry is situated on 2 acres within the prestigious Plantation Estates at Kapalua Resort, Maui Hawaii. Enjoy wonderful views of the ocean and the island of Molokai from the interior of this home, or from the gorgeous infinity pool with waterfall and spa. Modern gourmet kitchen, formal dining room, media room, great room with soaring 20 foot ceilings, beautiful spiral staircase to the upstairs master suite and additional living areas.
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Homes Under $1M
147 Eleu Place
Kihei
$368.5K (FS) |
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Bank Owned. 3 bd. 2 bath home with 1 bd. 1 bath detached ohana. Minimal repairs needed. Two minutes from the beach, two minutes from Pi’ilani Shopping Center, 15 minutes from town. Great investment property.
Agent Listing Synopsis
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20 Kai Nana Place
Kula
$375K (FS)
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Bank Owned. Nice Kula home on flag lot, close to community center. Home has been partially upgraded and is placed on large usable lot.
Customer Listing Synopsis
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232 Anamuli Street
Kahului
$377K (FS) |
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Bank Owned. The Legends at Maui Lani single story 3 bd. 2 bath home in phase II of the Legends. High ceilings, great master suite and eat-in kitchen. Backyard is completely fenced.
Customer Listing Synopsis
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12 Ualena Loop
Haiku
$400K (FS) |
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Short Sale. 2.56 Acres of botanical gardens and breathtaking ocean views. Bordered with waterfall, large natural pool & perennial stream. Two additional building sites with graded driveways.
Customer Listing Synopsis
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Vacation Condo Over $1M
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Wailea Beach Villas PH-209
Wailea
$2.895M (FS)
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Wailea Beach Villas is the oceanfront destination - walk to shops, hotels, etc. All at your immediate access. Surprisingly strong 2nd floor ocean views from this large 3 Bedroom 3 Bath plus Den. Great layout, this feels more like a home than a condominium.
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Vacation Condos Under $1M
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Pohailani Maui #212
Honokowai
$269K (FS)
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Best buy for ocean front studio on West Maui with great central location 15 feet from the water. Endless views of islands of Lana‘i and Moloka‘i watching turtles, whales and fabulous unobstructed Maui sunsets from the living room and off the private lanai.
Customer Listing Synopsis
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Sands of Kahana #318
Kahana
$399K (FS)
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Terrific beachfront location with ocean and sunset views. Unique one bedroom with two baths at the Sands of Kahana with many amenities. The Sands has an on-site restaurant, three tennis courts, beach volleyball, fitness gym, 4 BBQ stations, hot tub and more.
Customer Listing Synopsis
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Wailea Ekahi 35D
Wailea
$625K (FS) |
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Expansive ocean views and great upstairs corner location complement this tastefully upgraded turnkey unit which includes newer appliances, central A/C, slate flooring, frameless glass shower enclosure, and new fixtures. Used primarily as a personal residence, the unit feels fresh and like-new.
Customer Listing Synopsis
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Residential Condos
Mount Thomas #201
Wailuku
$178.5K (FS) |
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Bank Owned. Nestled within the sand hills of Wailuku, Mount Thomas offers much more than just panoramic views. Literally minutes away from almost every amenity the complex provides the perfect setting for any professionals, retirees and first-time homeowners alike. Tastefully remodeled and featuring 880 sq. ft. of living space the only thing left for any potential buyer to do is unpack.
Customer Listing Synopsis
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Kai Malu 49A
Wailea
$847K (FS)
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Beautiful dark wood floors downstairs. Unit has lots of improvements & upgrades. Unit is being sold as a result of a divorce settlement.
Customer Listing Synopsis
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Vacant Land
2660 Kanakanui Road
Kihei
$159.9K (FS) |
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Bank Owned. Vacant flag lot in South Maui. Gulch is part of lot, per county water meter installed.
Customer Listing Synopsis
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