Presented by Aloha Potts
Issue 29 – Q1, 2013
Aloha from your resident experts!
Of the 13 listings in the 1st quarter of 2013, 7 were pending and 2 were sold at the end of the quarter. Two listings were canceled, and another went into escrow today, so there is now only one active listing!
There are three short sales in escrow at this time, and currently no active listings that are distressed properties.
With only 1 active listing and no 2 bedroom listings at this time, we have buyers waiting for listings, especially upstairs listings.
Current listing inventory consists of 1 one bedroom downstairs unit; the one 2/1 downstairs unit went into escrow today (4/17).
We are experiencing stronger demand for aina nalu condos as occupancy seems to be strong and inventory levels decrease, resulting in increasing prices in general.
The market in general is still very active —rates are great and prices are still good. Our ongoing challenge is finding properties for our buyers who want to buy at market prices. Appraisals are coming in higher than in the past—good news for aina nalu owners!
We invite everyone to our fundraiser at aina nalu on May 25 from 6 to 9 pm, the day after the annual AOAO meeting, for the West Maui Tutoring Program. We hope you can attend, and we are looking for wine and silent auction donations. Please contact Barbara for more information.
By the way, the buildings are in the process of being power washed and painted. It’s going to look like new and we are already getting lots of compliments from prospective buyers on how great the grounds look.
From January 1 to March 31, there were 13 listings (3 were short sale and none were REO/bank owned). Seven listings were pending at the end of the quarter. At the quarter’s end, one of the 1 BD/ 1 BA and one of the 2 BD/ 1 BA listings were canceled, leaving only TWO active listings.