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| Issue 355 | December, 22th, 2009 |
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| Aloha ,
In this newsletter:
REO Properties
Short Sales |
Casual Elegance |
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Market Update
Looking at overall market statistics for either the U.S. as a whole or for individual states, it is becoming increasingly evident that the market has found its bottom, and is in the very early stages of recovery.
Take a look at the Federal Housing Finance Agency website where they compare Hawaii, California, and Washington prices on a quarter by quarter basis with previous year's figures. You can see that prices showed a dramatic improvement in the latest quarter.
In fact, California, which was hit the hardest actually bottomed out in the 3rd quarter of 2008, whereas Hawaii, reached bottom in the 2nd quarter of 2009. This is the normal pattern where Hawaii lags about 6 months behind California.
An additional impetus to price stabilization and improvement has been the extremely low interest rates. One of the reasons why interest rates have been so low is due to the Feds purchase of Mortgage Backed Securities. This program is ending in March 2010, so we expect that interest rates will most likely climb to the 6 to 7% range.
We want to wish you all a very Merry Christmas and a Happy Chanukah.
Have a wonderful week!
Mahalo Nui Loa,
The Smith Team
P.S. Are you looking for development opportunities? We have projects where we are looking for investors in the $3 to 100 Million range. Contact us if you are interested in learning more about some of the incredible opportunities available on Maui today. Five years from now, you'll be very happy if you act now. This goes for any purchases that are made today. We are in the very early stages of a bull market for Maui real estate.
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
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Market Watch for December, 21st, 2009
| Active | Pending | Sold | Change | |
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| Homes | 880 (372) | 226 (25) | 650 (91) | -2 |
| Condos | 1367 (249) | 218 (9) | 801 (150) | -3 |
| Land | 535 (160) | 43 (9) | 103 (29) | -17 |
| Total | 2782 (781) | 487 (43) | 1554 (270) | -22 |
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1. The numbers in parentheses reflect the number of listings over $1M |
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Hale Anuenue, “House of Rainbows” is the ultimate in elegant oceanfront lifestyle. This newly finished masterpiece is literally one of a kind. The timeless architecture and meticulous attention to detail envelope this secluded slice of Hawaiiana. |
 320 Kulalani Drive Kula $319.9K (FS) |
Bank Owned. Upper Kula home with ocean views and decks for entertaining. Two story home features 2 bd. 2 baths and 1 car garage.
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 503 Kekoanui place Haiku $399.9K (FS) |
Bank Owned. Roomy Balinese style home with squash court and ag office. Lots of windows plus skylight. Many custom features.
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 5 Iris Place Kahana $651.8K (FS) |
Bank Owned. Open and spacious 4 bd. 2 bath single level home in Kahana Ridge. Upgrades include laminate flooring and new paint in the interior and garage.
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Puamana 160-4
Lahaina
$2.595M (FS) |
Spectacular oceanfront 2 bd. 2 baths at Puamana. Large great room (living room, dining area, kitchen, & bar counter). 28' wide covered oceanfront lanai with views of Lanai' and Kaho'olawe. |
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Short Sale. Terrific deal for ocean front (LH) condo. Great location in complex with excellent ocean views. |
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Short Sale. Bank approved at list price. Lauloa is an ocean front heaven watch the whales frolic and play after a hard day at work. |
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Short Sale. Great location for this 1 bd. 1 bath ground floor unit at Maui Vista. It is located at the quiet end of Building 1 and within walking distance to Charley Young Beach. |
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The Mana Kai is one of the best ocean and beach front complexes in South Kihei. By taking just a few steps away from your condo, you will be on a 1 mile stretch of warm sandy beach...one of Maui's most beautiful swimming areas. This unit offers exceptional ocean views from both bedrooms. |
 Puuone Terrace #408 Wailuku $129K (FS) |
1 bedroom, 1 bath unit in Wailuku, Maui. In the heart of town close to shopping, schools, government offices, Wailuku businesses and North Shore beaches. |
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 Kai Makani 34-203 Kihei $344.5K (FS) |
Bank Owned. Lovely 2 bd. 2 bath unit across the road from "Mai Poina" (Windsurf Beach). Barely lived-in. |
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 Kai Malu 18A Wailea $783.9K (FS) |
Bank Owned. Great value for this 3 bd. 2.5 bath 1,796 sq. ft. unit at Kai Malu. |
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This email was sent to |
The Smith Team - http://mauisales.com |