|Aloha! Spring has sprung and the first quarter of 2013 is complete. We’ve had a very busy first quarter experiencing the real estate upsurge so widely discussed. As a participant in the Sales end of the real estate market it is clear that there are increased showings, properties going under contract and sales including multiple offers on “well priced” listings. Hesitant buyers are now becoming Purchasers as they learn of the “hot” markets on the Mainland and see how quickly our local Maui market is changing. Traditionally Maui follows shortly after California and most of California has recovered.Maui’s well priced properties are attracting multiple offers with very few days on market, often resulting in quick closings. Inventories have declined 14-16% over the past 12 months in Residential and Condo classes. REO (Foreclosures) and Short Sales are dwindling, with any “hidden inventory” (or overhang) backlog slowly trickling onto the market. Mortgage Interest Rates are still near historic record lows which may help motivate would-be Buyers to go ahead and buy IF they can qualify for a loan. Stringent lender underwriting has softened somewhat and many lenders are offering more new loan programs which also helps. Although we are seeing increased financing as buyers take advantage of the current low interest rates, there continues to be more than 50% cash buyers.MAUI’S FIRST QUARTER REAL ESTATE STATISICS ARE IN:
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Our Android App is now available for those who utilize an Android:
MORE REAL ESTATE INFO:
New Pricing Introduced at Honua Kai:
Call for Details.
Andaz Hotel Update:
Published in the Maui News April 18th in the Maui Scene section, Andaz is targeting June 28th to open.
Wailea Suites Update:
The maintenance fees have been lowered from $2,100 to $1,192 for a one bedroom one bath suite. The first closing just occurred at $749,000.
Other new projects coming:
There are several condominium projects coming on line. If you would like to be placed on the interest lists, please email dad@MauiRealEstate.NET or call us at 808-283-9456.
Our featured listings for this week are:
Wailea Ekahi 18D is a phenomenal value with great views of Keawakapu Beach with sounds of the ocean. Turnkey: http://www.mauirealestate.net/GetSearch.php?WhatMLS=354738
The ground floor Wailea Beach Villas Penthouse with ocean views is outstanding with fabulous furnishings: http://www.mauirealestate.net/GetSearch.php?WhatMLS=354259
If you need a large Villa, G101 has the private splash pool and additional square footage: http://www.mauirealestate.net/GetSearch.php?WhatMLS=354390
We also have some Wailea Kai home values:
The Hansens are now accepting new listings. If you or someone you know has been considering selling property on Maui please contact us for a no obligation consultation. We have been involved in over 650 successful transactions on Maui and currently have many of our listings under contract. We utilize cutting edge technology with an extensive internet presence as well as regular print media including glossy magazine ads in Canada, Maui and to the Christie’s International Real Estate extensive worldwide base.
Please visit us on our top ranked website www.MauiRealEstate.NET for regular market updates as well as other helpful information and statistics. We are constantly enhancing the features of our website and welcome your feedback and suggestions.
With Warmest of Aloha,
Bob, Clint and Donna
The Hansen Ohana Real Estate Group
Maui Estates International LLC