STARTING THE YEAR WITH A BANG
January 8th, 2008The mainland real estate market may be troubled, and the situation in Maui isn't perfect, but if the first week of the new year is any indication, Maui has lost none of her allure. Here is some of what we have seen so far:
- A Keawakapu Beachfront home, listed for over $10 million has gone into escrow and a Kuau oceanfront home has closed for $6 million;
- A breathtaking Wailea Point unit, remodeled and views to forever has gone into escrow and closed in ten days for $5.25 million;
- Two Wailea homes, one in Wailea Fairway Estates and another in Wailea Golf Vistas have both gone into escrow;
- Two Kai Malu units being resold have gone into escrow, at least one of them at over $2 million;
- The first Kanani Wailea resale looks to be happening;
- Two Royal Mauians have gone into escrow;
- Two Palms at Wailea units have gone into escrow; and
- 171 Grand Champions has sold for $655,000.
What is driving this? We see a couple of factors. More and more, younger buyers are pre-buying their retirement places. More and more Canadians are choosing to be active in the marketplace. The very best properties in each asset class is highly, highly prized. Lastly, it our sense that sellers have become very, very realistic in their expectations.
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