Aloha & Good Morning!
Today's forecast for Maui will be mostly
sunny and breezy with a high of 86 degrees!
Everywhere
we turn these days we hear that the Real Estate market is HOT. Not just on
Maui, but nationwide. We hear that properties which are priced well sell
quickly; we hear of multiple offers and bidding wars. But is this really what’s
happening? Or are Realtors exaggerating? This newsletter will provide some
actual data that shows just how HOT the market is.
Let’s
start with sales. Comparing the first 7 months this year to the same time
period last year, for sales of single family properties Island wide we see a
major increase.
This chart
clearly shows that sales are increasing and the improved market has reached
well into the over $1 million market. But is this HOT?
To best
demonstrate how hot this market is, the chart below shows how quickly the sales
went into escrow regardless of how long it took to close the sale. As you look
at these numbers, it’s fair to say that anything that goes into escrow within 2
weeks has competitive bids or at least two buyers interested. Take a look at
how the market has changed in just one year:
The column
on the far right tells it all: that’s the percentage of properties on the
market that went into escrow in less than 20 days. For Maui this is unheard of
and it indeed says our market is HOT. Buyers are experiencing stiff competition
for the properties they want, and the same picture applies to condos. They are
in demand and competition is fierce.
If you've been wanting to get into the Maui market
but you've been holding off then now is the time to get out there and
start your search! It is never too late to get a great deal and find
your Maui Dream Address! The best part
of searching just got easier if you are a mobile device user because now you
can download the Real Estate Sales Maui App on your Apple and Android mobile
devices. Click her to download the
free app!
Below are
some of the properties that were HOT in the last few months and sold quickly:
42 Kawailani Circle, Kihei
This
2 bedroom 2 bath home of 982 sqft. on 3,894 sqft. of land went into escrow in 6
days and sold at asking price of $499,000. This home is located in the
desirable subdivision of Piilani Village II.
8195 Kula Highway, Kula
This charming 80 year old well
maintained residence of 2 bedrooms and 2 baths in 1608 sqft., on 2.5 acres in
Kula with ocean and mountain views, went into escrow in 6 days and sold at
asking price of $799,000.
566 Kaleo Place, Maui Meadows, Kihei
This spectacular 4 bedroom 4 bath
home with a 2/1 ohana on .55 acres of land in Maui Meadows went into escrow in
4 days and sold just 5% under asking price at $1.5 million.
PACIFIC BUSINESS NEWS
Pacific Business News has a great section for August called Face to Face and
I am so proud to share that Windermere Valley Isle was featured! The link below takes you to the photo and you
can see us in #30 on the slide show.
This was from the work day we held at The Maui Farm and it was a great opportunity
for the Windermere family of realtors to get out of the office and work the
land while giving back to our beautiful community. 
RESM MOBILE APP
Are you looking for an
easy and smart way to start shopping?
Check out the Real Estate Sales Maui
Mobile Apps.
The app allows you to search for properties on Maui and
neighboring islands. You will be able to
quickly review property pricing, location and detailed listing
information. In the RESM app you can
scroll through photos of homes, condos, time-shares, businesses and vacant land
for sale and you can use an interactive map to find your property. You can also save your favorite properties
and have one touch access to recent property searches you've made. Check out
all that this app has to offer and download it today for FREE!!!
OPEN HOUSE
This is the best of the best in Kihei! VIEW, VIEW, VIEW!!! Ocean view from
master bedroom, ocean view from living room and kitchen & gorgeous
Haleakala view from 2nd bedroom. Watch the sunrise over Haleakala in the am
& sunset from your ocean view lanai. Watch the whales jump & Mamma
& baby swim by without leaving your condo. Continuous sheltered ocean
breezes & sheltered afternoon sun from the position of the building &
placement of palms trees, makes the location of this unit superb! A/C is rarely
needed. This condo is a rare two bed/two bath in the inner circle & all on
one level. Completely remodeled in 2006. Cabinets are African mahogany with a
bamboo pattern carved into the doors. Granite countertops. Double sink in
master bath. This beautiful 15 acre complex is located directly across from
Kamaole Beach III. It boasts a large swimming pool, 3 hot tubs, 3 tennis courts
& 8 BBQ areas. Fresh water ponds & waterfalls add to the gorgeous
tropical landscaping. There is also an onsite activities desk, a gym with new
equipment & professional security. Each gate has video surveillance cameras
as well as throughout the complex. AND, to top it off...weekly Maui Tai parties
at the pool, offering professional singers, hula dancers & free drinks!!!
Unit being sold furnished. Has two parking spaces.
Unable to come?
Check out the full listing HERE!
WHEN: Thursday, August
15th from 11:00 AM to 3:00 PM
Hosted by Lisa Mascaro R(S)
~and again~
WHEN: Sunday, August
18th from 2:00 PM to 5:00 PM
Hosted by Randy Keller, R(S)
WHERE: Kamaole
Sands
2695 S Kihei Road, #5-305
Need help finding the
open house? Give me a call or text
808-298-7850
Don't forget to get your name in for this
year's exciting iPad giveaway!
New listings have been added to the Windermere Valley Isle Properties
YouTube Channel. If you want to keep
up-to-date with the newest listings you can follow them by clicking HERE! Looking for more great articles, videos and advice? Check out the Real Estate Sales Maui Team on FACEBOOK, TWITTER, BLOGGER and PINTEREST
Looking for the current Bank Owned Foreclosures on Maui? Click HERE.
Last
Week In The News
Non-manufacturing activity rose to
56 in July from 52.2 in June. A reading above 50 signals expansion. It was the
43rd straight month of expansion in the services sector.
The trade deficit decreased from
$44.1 billion in May to $34.2 billion in June. It was the lowest trade gap in
more than four years. Exports rose $4.1 billion to $191.2 billion. Imports
decreased $5.8 billion to $225.4 billion.
The Mortgage Bankers Association
said its seasonally adjusted composite index of mortgage applications for the
week ending August 2 rose 0.2%. Purchase volume rose 1%. Refinancing
applications were unchanged.
According to the Federal Reserve,
monthly consumer credit debt rose $13.8 billion in June for a total credit debt
level of $2.848 trillion. Revolving debt, which includes credit cards,
decreased $2.7 billion to $853.6 billion. Non-revolving debt, including loans
for cars, rose $16.5 billion to $1.994 trillion.
Wholesalers decreased their
inventories 0.2% to $499.7 billion in June. Sales at the wholesale level rose
0.4% to $425.9 billion in June. On a year-over-year basis, sales were 5.6%
higher than June 2012. The seasonally adjusted wholesale inventories/sales
ratio in June was 1.17, the leanest reading since April 2012.
Retail sales rose 0.3% for the week
ending August 3, according to the ICSC-Goldman Sachs index. On a year-over-year
basis, retailers saw sales increase 2.5%.
Initial claims for unemployment
benefits for the week ending August 3 rose by 5,000 to 333,000. Continuing claims
for the week ending July 27 rose by 67,000 to 3.018 million. The less volatile
four-week average of claims for unemployment benefits was 335,500.
Upcoming on the economic calendar
are reports on retail sales on August 13, the housing market index on August 15
and housing starts on August 16.
Craig Haueisen is a Loan Officer with Prospect Mortgage. Please
feel free to email him or call him for any of your Mortgage needs.
Office: 808-298-7549 or Email: craig.haueisen@prospectmtg.comClick here to visit Craig's website and apply online: http://myprospectmortgage.com/CHaueisen
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