The bottom of the market is behind us. But the curve of the increase is slow and gradual, and national predictions are suggesting a 4%-6% gain this year. That is a reasonable pace and Maui seems to be matching it.
It's that time again, July Hot Picks have been chosen and I want to share them today,
Please click to check out our latest newsletter with a variety of good deals.
My favorite is this lovely quality home on two acres of a park like setting of a highly desireable area of Lower Kula. Real Estate in Upcountry Maui is some of the finest on the island. This unique property has the possibility to sell the cottage with a smaller section of the parcel.
Now, as far as views go...wow, check out this one from the Door of Faith Rd. property. It is so dramatic, and in an off the beaten path area, yet close to Paia on the North Shore.
something from lower and mid range as well.
If you have any questions or interest in Maui Real Estate, please contact me. I'd be happy to help.
With so many *headlines* concerning Real Estate changes lately,this should clarify the Maui News reporting a few days ago. Record low interest rates and the lowest Median price on Maui in 5 years, makes it a great time to hop off the fence and think more seriously about a Maui Real Estate purchase. This year, your Maui ownership dream can become a reality.
*"Housing Indicators are Up!"
On May 24th several housing indicators came out: apps, prices, sales. And all were up! - Reuters
*"The national median home price rose for the third straight month in April" - HG Housingwire
*"Hawaii ranks #1 in House Price Appreciation"
Federal Housing Finance Administration’s Purchase-Only House Price Index
*"Oahu Home prices near 5-year high!"
Honolulu Star Advertiser 6/8/2012
And yet on June 11, 2012 the Maui News wrote…
*"Single-family homes at ‘sale’ prices on Maui"
Median price hits 5-year low in May
The median price of single-family homes in Maui County dropped last month to its lowest level in at least five years. Coupled with record-low interest rates, real estate professionals say the Maui home market is at one of its most affordable levels in nearly
"It sounds cliche, but Maui's on sale right now," says the president of the Realtors Association of Maui.... Maui's May numbers are the reverse of what the Honolulu market experienced last month. Those in the industry say because Maui has a much smaller inventory of properties than Oahu, a handful of low-priced homes can skew Maui's averages downward and vice versa.
Why are prices going up on Oahu but Maui is 'on sale'? Just a few months ago we wrote that Maui’s real estate market was starting to turn. The above headlines make it clear that this is a fact in Honolulu as well as in other parts of the country. While Maui tends to lag behind Oahu and the mainland, sometimes numbers can be deceiving.
The real estate market on Maui is turning, with different parts of the market behaving differently. In May, 36% of the closings on Maui were short sale or bank owned, and 25% sold for under $299,999. Also, 13 of these lower priced homes went into escrow more than 4 months ago. So the numbers would indeed be skewed to reflect this brisk activity in the lower end of the market and cause statistics of the overall median price to decline. But, this end of the market is seeing multiple offers and increasing prices, so don't be deceived by the statistics. When inventory is low and multiple buyers vie for the same properties, prices go up.
An important secondary factor in the market picture on Maui is the low inventory. The number of units on the market is down almost 40% from a "normal" market, and this will impact prices.
Conventional wisdom says.... You will not see a market like this again for at least 12 to 15 years. Maui is indeed “on sale”. And it won't be long before Maui's market catches up to Oahu and the rest of the country.
I look forward to helping you with your Real Estate needs.
Cherie Attix R(S)
Windermere Valley Isle Properties
April Showers have brought out the May flowers..... The trade winds are scattering blossoms of the beautiful purple Jacaranda trees and mango flowers are preparing for their winter fruit.
This is the time of year people visit Maui and fall in love. The air is perfumed with Jasmine and Mock Orange flowers, the skies are brilliant blue, and great entertainment abounds with music and plays island wide. Folks come to experience island life and want to stay.
I'd be more than happy to answer questions, or make arrangements to visit properties during your next visist to Maui. Cruise Maui listings on my real estate site http://www.homesalesmaui.com/ to see what's new .Let's find the perfect fit for your lifestyle.
It's almost Mother's Day, a special time of year. To all the mothers and aunties out there, may this coming week be a week filled with the love of your family.
Sending Aloha, far and wide. A hui hou, until later.
Being able to call Maui "Home" is a dream come true. Every day I get to experience my guest's excitment and awe of our island's natural beauty. Honestly, I have seen more amazing photos than most folks. Evenings and early mornings often find guests pouring over their shots at the table.
The visitor industry in Hawaii has been my focus for 25 years, and now this focus has progressed it's natural course to helping folks find their new homes on Maui. I am now a licensed Realtor (S) in the state of Hawaii. I am a member of RAM, the Real Estate Association of Maui, and NAR, the National Association of Reators.
I spend time at breakfast with guests setting out for their day's adventures, be it a trip up the spectacular Haleakala Crater, a road trip out to Hana, or a snorkel or golf adventure.
Having owned a number of properties on Maui and the Big Island , my focus has been on restoration of heritage homes. Two of my homes were built in 1924, and 1939, and have been a rewarding challenge to restore them to their former charm. The complex history of the islands fascinates me, and restoring an older homes opens a window to this rich history.
The quality of light in the islands is so special, many artists reside here with inspiration all around. Maui has a growing reputation as an international art mecca. My own art forms are watercolor and woodblock. I always look to enhance the light and allow ways for the outdoors to flow inside.
Hawaii has been my home for over thirty-five years, Upcountry Maui is where I live, garden, work and play.....with regular walks and swims along the beautiful, windswept North Shore. The rolling pasture lands, and breath taking vistas from the slopes of Haleakala are awe inspiring.. Maui is a place of spectacular views, lush gardens, friendly people, great resturaunts, organic gardens, cultural events, art galas, walks on the beach, swims, surfs, and paddles in the ocean.
Maui truly is "no ka oi", the best.....and I am so very pleased to share my home with you, and to help you find yours.
With warmest Aloha,