There has never been a better time to buy!
It seems that 2010 is going to be a very good year. To some, it is amazing that they are even seeing 2010. To others, it’s just like the beginning of the 1960s, ‘70s, etc.
I say this after having a rip-roaring good time on a recent Aloha Friday, Sunset (outstanding whale watch), 91st Birthday Sail with our Mother Meredith Quenon. I’m quite sure she’ll see 2020. Time is a very interesting concept… and most important when it comes to your real estate strategy. It could not be a better time.
If you are a first-time home buyer, there are great affordable properties, and with the currently available tax credit and low interest rates, I don’t think it has ever been a more opportune time. For anyone who has thought of owning on Maui, the time really could not be better. With the recent decline in property values and the amount of inventory available, it is a buyers’ market.
Nicely appointed two-bedroom/two-bath properties in Lahaina that were selling for $500,000 and $600,000 in the past three years are now selling for $255,000. These are income-producing properties if you choose to have it with a rental program. This condominium property has great amenities, including two pools with a Polynesian-style long house where you can hang loose and watch a game or go onto the Internet. There is also an area in this long house where you can share a meal in the true Hawaiian style with pupus, drinks, family and friends.
Residential homes on West Maui are now starting below $400,000. In Kaanapali — an area very near and dear to our hearts, because we have lived there for 30 years and watched it grow and change, and still know it is one of the best places in the whole world — residential homes have fallen below $700,000. The community was surprised when they fell below $1,000,000. On the golf course, this is an incredible value. In the Kaanapali Hillside area, homes are starting at just over $1,000,000. And we have not seen so much affordable inventory in the Kaanapali area since the Kaanapali Hillside and Kaanapali Golf Estates were first being built.
Land values in Kaanapali have decreased significantly over the last three years, and again, prices are truly incredible. There are approximately quarter-acre lots starting at under $400,000 in a beautiful gated neighborhood with fantastic views just waiting to be built on. It could never have been easier to build — there are many eager, qualified architects, contractors, builders and decorators to work with that can really make the whole process much easier than one might think.
Because many people on Maui have jobs that have to do with assisting out-of-state owners with their properties, it is a very common thing to have a team that assists you with your vacation or second home ownership on Maui.
Jim Harris and Mischelle Lawrence, along with Whalers Realty Inc., would like to be at the head of your team when it comes to buying or selling on Maui. We have 30 years of experience personally buying and selling real estate and helping our clients buy and sell real estate on Maui.
Ocean view, spacious, two-bedroom/two-bath condominiums in Kaanapali proper (on the golf course) are now starting at $575,000. This low-density, gated property does permit vacation rentals, but truly has the feel of residential living right within Kaanapali Resort. Amenities include pool, tennis courts and more!
Please, for all of your real estate needs, remember to “Ask for the Best of the Best” in James M. Harris Inc., Broker, and Mischelle M. Lawrence, R(S). Call us toll-free at 877-Jim-Maui (546-6284) or (808) 280-1640 (cell), or e-mail JimMaui@maui.net.