Aloha,

Labor Day came early this year, so we were not able to pre-empt the holiday with our newsletter. Nonetheless, we hope you had a safe and pleasant 3-day weekend!

As you know, we are not big statistic buffs (you can always request stats from us, though), but we thought it might be a good time to give you a capsule snapshot of our market so far for 2008, through July, as compared to 2007.

                            2008 YTD Sales    2007 YTD Sales    2008 YTD Median    2007 YTD Median

Single-Family           574 units             736 units (-22%)         $595,000               $649,000 (-8%)

Condominiums         537 units             677 units (-21%)         $600,000               $525,000 (+14%)

Number of units sold are down over 20% for both single-family homes and condos, and the median price for homes has dropped 8%. Surprisingly, median price for condos is actually up 14%, but those numbers are somewhat skewed by new condo projects being completed and closed on this year that were actually sold three years ago, in a much more active market. Also, please note that these stats are island wide; the numbers for specific areas like Wailea and Kaanapali are a bit different. For complete and detailed stats, go to: http://www.mauiboard.com/complete_stats.mv

So what does all this mean? Well, with number of sales down significantly, it could mean that this is not a great time to be a Realtor, but it can be a great time to be a Buyer! Although asking prices may not reflect opportunity, there really are motivated sellers out there who will consider offers! Be realistic with your offers, and let TEAMWailea help you with the process.

Here are this month's Featured Properties and best buys:

MLS #328937--How about a 2BR/2BA direct oceanfront vacation rental condo with an excellent rental history and panoramic ocean views from every room, well priced at $595,000!!!

MLS #327866--Kamaole Sands continues to be one of south Maui's most sought after vacation spots, located directly across from the popular Kam III beach park. This rare 3BR/3BA, 1,484 sq. ft. unit will maximize your income potential while giving you and your guests the room they need to enjoy their Maui experience. $799,000!!!

MLS #332901--Just south of Kamaole Sands at the gateway to Wailea, this 2BR/2BA tastefully upgraded unit offers 1,244 sq. ft. of luxury, comes fully furnished and is ready for the rental pool. Your guests will love the ocean views and convenient location! $799,900!!!

MLS #327882--If owning a second home (or maybe a first home!) on Maui is your dream, look no further than this stunning, brand new Hokulani Golf Villas 3BR/2.5BA beauty. Situated overlooking the 18th fairway of the Elle Aire golf course, this 2-story, 2,380 sq. ft. home is a steal at $1,195,000!!!

Thanks, again, for visiting our Monthly Newsletter, and we hope you are enjoying the convenience of our new website. As always, we look forward to any special requests you may have, and/or your feedback on our newsletter. Hopefully, we will see you on our beautiful island soon! And Realtors--don't forget those referral fees!

Warmest alohas,

Michael and Ceci
www.TEAMWailea.com