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Market Update
In last week's newsletter, we spoke about the housing market recovery with the increase in building permits, home sales, and low mortgage rates. To further elaborate, a recent article from Barron's stated "After falling 34 % over the past six years, U.S. home prices will soon bottom. They could turn back up by Spring 2013." I do not have a crystal ball about the future of our real estate market here on Maui, but this article spoke of several factors that show that the market may bottom out in the near future. Two of the factors that I will touch upon are about the shadow inventory and the home builder's stock market index.
According to Moody's Zandi, the shadow inventory of foreclosed homes has been steadily shrinking since its peak of 4.53 million homes in the 1st quarter of 2010. Also, due to the tightened mortgage underwriting guidelines, the early stage delinquency rate has dropped as well. This will lead to less foreclosed homes in the future.
The National Association of Home Builders/Wells Fargo Housing Market Index has an increase in the confidence index with Home builder stocks like Beazer Homes up 167 % and Toll Brothers up 81 % since October 2011. This is a good indicator that the housing market is making a turn for the better.
Mahalo Nui Loa,
Greg, Melissa, Ken, and Jeremy
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
 
Market Watch for March 26th, 2011
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Active |
Pending |
Sold |
Change |
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Homes |
625 (279) |
247 (30) |
905 (124) |
+4 |
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Condos |
973 (177) |
292 (14) |
1132 (84) |
-6 |
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Land |
518 (117) |
24 (5) |
144 (17) |
+1 |
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Total |
2116 (563) |
563 (49) |
2181 (225) |
-1 |
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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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408 Monarch Place
Kapalua
$2.295M (FS)
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408 Monarch is located in the prestigious Pineapple Hill community on the Kapalua resort. Its end of cul-de-sac location provides additional privacy and the benefit of a larger parcel. Pride of ownership is evident in this meticulously maintained home.
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69 W Kapu Place A B
Kihei
$2.875M (FS)
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Kapu Place presents a unique lifestyle that only a privileged few have come to appreciate. This property is perfectly positioned on a gated, privately-owned street, offering it's residents the ultimate Maui getaway. The home consists of two separate 3 bedroom, 3 bath, 2-story townhouses. Interior finishes and amenities include the widespread use of stone flooring and counter tops, etched glass French entry doorways, as well as central air and central vacuum throughout.
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Homes Under $1M
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10 Ololi Street
Waikapu
$250K (FS)
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Short Sale. Mountain and ocean views from this large fixer-upper. Sought after Waikapu. The 2 story home has an unfinished basement for additional living area and large fenced yard.
Customer Listing Synopsis
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543 Lono Avenue
Kahului
$264.5K (FS)
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Bank Owned. Great location near commerce, shopping, and schools. In the center of Maui with easy access to highway and all parts of the island. Plenty of private space, large lot. Massive possibilities, and a cottage 57% completed (per building department).
Customer Listing Synopsis
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190 Malamahale Place
Kula
$529K (FS)
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Kula's best buy. Your own piece of heaven. Come take a look at this unique and beautiful property. The real gem is the 3 acres that the multiple structures sit upon and the amazing view.
Customer Listing Synopsis
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250 Puumakani Street
Kahului
$549.9K (FS) |
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Short Sale. Custom built mini mansion with many special design features, perfectly executed. From the koi pond that greets you on arrival - to the pool, shaped like the Island of Maui, and everything in-between … nothing spared in the design, details and love put into this exquisite home.
Customer Listing Synopsis
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1011 Upper Ulumalu Road
Haiku
$895K (FS) |
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Comfortable is the best way to describe this property. It is wide open and airy with lots of natural light from every room, taking advantage of bringing the fabulous natural surroundings and views inside the home. Every inch of the home and property speaks " pride of ownership " with a spotlessly clean home and manicured palm and ornamental orchard covering over 4 acres. Included is a huge barn/workshop that has a farm office with a complete bathroom.
Customer Listing Synopsis
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Vacation Condo Over $1M
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Ho'olei D-5
Wailea
$2.65M (FS)
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Villa D-5 is located on the top row of the Ho'olei, representing one of the highest elevations on the entire property. Situated directly across from the Four Seasons and Grand Wailea Hotel Resort and Spa, Ho'olei truly represents the best Wailea has to offer! With dramatic panoramic ocean views clear out to Molokini and Lanai, Ho'olei 87-5 boasts 2426 sq. ft. of interior footage, making it one of the most spacious condominiums throughout the Wailea Resort.
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Vacation Condos Under $1M
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Pohailani Maui #244
Kahana
$220K (FS)
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Short Sale. Now is your chance of getting a great 2 bedroom condo in West Maui, approved for vacation rentals. Beautiful, remodeled upstairs unit with bonus sleeping loft, stack washer/dryer, stainless appliances, granite kitchen counter, tiled shower, slate lanai, etc.
Customer Listing Synopsis
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Kahana Villa F-404
Kahana
$350K (FS)
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Short Sale. This is a spacious 2 bedroom 2 bath unit with better than expected ocean views. There is over 1260 sq. ft. in this townhouse style condominium providing plenty of space and storage and ocean views from living room, lanai, and master bedroom.
Customer Listing Synopsis
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Kapalua Golf Villas 20T5,6
Kapalua
$419K (FS)
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Golf Villa # 20 T 5,6 is an extremely clean and well maintained one bedroom / two bath condominium with large "lanai" deck capturing ocean and sunset views. Mature trees adds to the green landscape and view from this location.
Customer Listing Synopsis
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Kapalua Ridge #2712
Kapalua
$514.9K (FS)
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Bank Owned. 1 Bedroom 2 Bath turnkey unit at Kapalua Ridge. Panoramic Ocean Views with private lanai and large open living space.
Customer Listing Synopsis
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Residential Condos
Maui Lani Terrace F206
Honokowai
$109K (FS) |
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Bank Owned. Maui Lanai Terraces in conveniently located to near by shopping and restaurants, a five minute drive to Ka’anapali beaches.
Customer Listing Synopsis
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Hoolea Terrace #1006
Wailuku
$199K (FS) |
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Come visit our new multiple family neighborhood! Hoolea Terrace is located on the slopes of the West Maui Mountains in Wailuku with beautiful ocean and mountain views. We offer a 2 bed/1.5 bath floor plan or a 3 bed/2 bath floor plan. Each building has Six 1-story units. There will be 29 buildings with a total of 174 units. Many of our units will have amazing ocean and harbor views.
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Vacant Land
0 Pulehu Road
Kula
$1.8M (FS) |
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Property is mostly usable with ocean & mountain views. Presently being used for grazing purposes. Ideal elevation for farming and creating a family homestead. Easily accessible from Kahului.
Customer Listing Synopsis
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