Aloha to All!  

 

Have you ever heard yourself saying something like this when it comes to Real Estate:  "If I had only bought one of these four years ago (or five, or six)..."  Point being, that everyone wishes they could have gotten in on what seemed like the "ground floor" of opportunity, so they could be the ones benefitting from market upswings and the tremendous appreciation that goes along with "hot" Real Estate markets.  Well, this may be that time again--at least here in Maui! 

 

Several factors contribute to my thinking here.  First of all, interest rates continue to float at or around historic lows, with 30-year fixed at 6.14% as of today.  What better time to invest in Real Estate than when interest rates are low?  Will they stay that way forever?  Probably not, so why not take advantage while you can?  Secondly, we are beginning to see more and more "Cancelled" listings here in Maui, as Sellers (who are not that motivated to sell), take their properties off the market, waiting for "greener" pastures (for Sellers).  You see, many property owners have 2nd, 3rd, and 4th homes here, and their motivation to sell is not driven by typical conditions on the mainland (i.e., job changes, downsizing, etc), so they can afford to wait until the time is right for them to sell.  For this reason, it is very likely that our prices have hit their "bottom", with most predictions suggesting that values will begin to rise again next winter season here in Maui.  

 

As it is, many of our most popular complexes have seen prices drop as much as 20% from our peak of 18 months ago.  Grand Champions in Wailea is a good example of that, where prices on 2BR units have gone from the high $900,000's to high $700,000's (Click Here to View Listings), and I'm seeing offers being accepted for 10-15% under asking price!!

 

The old adage "The Best Time to Buy is Always Now" may never have been truer.  Whether it's 1BR vacation rental units priced from the low $300,000's, to exclusive single-family homes in gated communities, there are some great buys in every segment of our market.  Just let me know where your comfort level is and what you're looking for, and I will personally research the very Best Buys for you!!! 

 

Best regards,

 

Michael Blaz

(808) 283-9093