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Market Poll: Where would you buy when the market changes? (This should be fun)
Okay the market is in serious trouble. The housing market is tanking in some areas of the country and not as bad in others. So as a Realtor I promote Maui because this is where I live and work. Yes I can give you all the reasons to buy here which are valid. So what I was wondering is that the U.S. and Canada represent a vast inventory of real estate you can buy. Here is my question for all the agents out there. If you were going to buy a home or rental property. Where most likely would you buy. Let's face it next year we are going to most likely see the bottom of the housing market.
So I am thinking that next year would be a good time to buy long term investment. I would like to buy a piece of property but where. We all have seen the different market cycles over the years. I remember on Maui before the market took off people were crying in their beer. It will never get better. So I am claiming it will get better. So my question for you is where do you think the best place to buy is and why.
Here are 10 reasons why you should buy in my county or state.
•1. Tax Base
•2. Jobs
•3. Property Prices
•4. Rental income
•5. Golf courses
•6. Beaches
•7. Schools
•8. Weather
•9. Raising families
10. Culturally rich communities.
So I would be real interested in your feed back and just maybe your response might turn into a sale for you? It may not be me, but you just might get lucky. By the way I think Maui is the place to buy, but that's just me.

Steven C. Nickens R(S) GRI ABR
The Wailea Group LLC.
3750 Wailea, Alanui, suite 5WE
Wailea, Maui, Hi 96753
Email: nickens@maui.net
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KULA Real Estate News |
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Volume 9 |
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Laurelee Blanchard, Realtor
(808) 298-8544 (Direct)
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REAL ESTATE MARKET REPORT
Kula Home Sales
As of September 30, 2008, there were 35 single family home sales in Kula year-to-date, compared to 57 sales this time last year.
Total dollar volume fell 23%.
The average price was $1,257,364, compared to $1,008,514 this time last year - up 25%.
The median price for a home was $1,020,000 compared with $765,000 a year earlier - an increase of 33%.
63 homes are currently listed for sale in Kula.
View the list at www.MauiResidences.com
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The following is a list of recent home sales listed in order of price. |
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Date |
Price |
Address |
Home S.F. |
Ohana S.F. |
Acres |
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8/21/08 |
$875,000 |
35 Waiakoa Place |
1,922 |
900 |
2.00 |
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7/31/08 |
$1,037,000 |
12 Kolokea Way |
2,421 |
n/a |
.51 |
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6/10/08 |
$1,049,000 |
18 Kapalulu Place |
2,550 |
n/a |
.23 |
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8/13/08 |
$1,050,000 |
1350 Naalae Road |
1,723 |
n/a |
2.07 |
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6/20/08 |
$1,075,000 |
71 Holomakani Place |
2,990 |
700 |
.74 |
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6/13/08 |
$1,150,000 |
24 Ohelo Place |
3,574 |
400 |
2.00 |
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5/23/08 |
$1,225,000 |
65 Mano Drive |
2,236 |
501 |
.36 |
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9/20/08 |
$1,301,500 |
860 Holopuni Street |
3,585 |
n/a |
2.00 |
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4/15/08 |
$1,400,000 |
3446 Omaopio Road |
6,464 |
n/a |
4.44 |
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5/21/08 |
$4,500,000 |
100 Kamaole Road |
2,785 |
700 |
9.66 |
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Food security is an important issue for the Hawaiian Islands. Maui boasts a year round growing season and has large areas of the island dedicated to sugar cane and pineapple, but it still imports over 90% of its food supply. There have been calls to expand agriculture on the island and improve self sufficiency. The challenge is that agriculture can be tough to make profitable. Land and labor are both expensive. This challenge is not unique to Maui. Smaller scale farms on the mainland have struggled to generate profits for decades. Community Supported Agriculture or CSA is one avenue that farmers have been pursuing as a means to make small scale farming ventures profitable. CSAs typically operate by having consumers become members in a farm. The members pay a fee that helps under write farming costs. The size of membership fees varies from farm to farm. The farm in turn provides weekly produce in return to its members. The weekly produce may be included in the membership fees or there may be a fee for each delivery. Again, this varies farm to farm.
I first heard about CSAs when watching the documentary The Real Dirt on Farmer John. I thought CSAs were an interesting business model and a great way to encourage local agriculture. I thought it might be a good fit for a community like Maui and wondered if and when I might see a CSA emerge on island. Today, I saw a letter to the editor in the Maui News touting a new kid on the local agriculture scene called Kula Fields. Low and behold, Maui has its very first CSA.
Kula Fields offers memberships starting at $15. From there, you can sign up for weekly home delivery of fresh produce. They offer different delivery sizes including small, medium and large deliveries. Small deliveries generally meet the needs of 1-2 people. Medium boxes are for 2-4 people and large delivieries will feed 4-6 people. Costs for the weekly deliveries are $35, $45 and $55 for the different sized boxes. You may order all fruit, all vegetables or a combination of the two. The type of produce delivered is going to be based on seasonal availability. Kula Fields is also partnering with other local companies like the Maui Cattle Company, Maui Coffee Roasters, Surfing Goat Dairy and Maui Seafoods for more comprehensive grocery delivery. Kula Fields current delivery range includes all of the North Shore, Upcountry, South Maui and Central Maui.
Kula Fields is a great opportunity for island residents to support local agriculture. It is also a great opportunity to go green in the community as it significantly reduces the carbon foot print of an island resident's eating habits. You can support local business and go green with the added convenience of having a good chunk of your weekly groceries delivered to your own home. Check out the Kula Fields Website to sign up as a member or for additional information on their products and services. I wish them the best of luck in this exciting new agricultural venture on Maui.
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September was pretty slow on Maui. This is our slowest time of year. The tourist count is down and sales have been slow from August going through September. Talking to the escrow companies escrows are starting to pick up. This is a good sign. October also will see an increase in visitor count. This is a time of year to get all our work out of the way. Once the holidays season kick in it should be a descent winter season for visitor count and sales activity.
Steven C. Nickens R(S) GRi ABR
The Wailea Group LLC.
3750 Wailea Alanui, suite 5WE
Wailea, Maui, Hawaii, 96753
Email: nickens@maui.net
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Okay I've heard this before. I am going to wait till next year when the market really tanks. I had a client from Canada come in today and say the exact same thing; I am waiting till next year. There is going to be a turning point when it is too late. Prices are down and we haven't seen opportunity like this in a while. If you have been waiting for the perfect time to buy property in Maui real estate market, this is the time!

I am no stock market expert but I do know real estate. I have seen the different cycles through the last 30 years in Maui. If you were speculating in the real estate market and got caught with a full beck in your hands you are bumming. Now if you have some cash and prices are down you are looking pretty good. So at what point do you beat the pack and start investing in real estate for down the road. Everyone involved is ready to bend over backwards to make it possible for you to buy your dream home. Most sellers are highly motivated and looking forward to serious buyers. It is important to remember that the real estate market runs in cycles, and conditions can change without a lot of warning. The market was just going through the roof and now prices have drop.

There is an old saying what goes up must come down and go up again. If you are looking for homes for sale in Kula, Haiku or Northshore Maui check these links for active Upcountry listings.

So if you are feeling like it's time to make a move to Maui. This is a great market to find your future dream home or condo.

Steven Nickens R(S) GRI, ABR
The Wailea Group LLC.
3750 Wailea Alanui, Suite 5WE
Wailea, Maui, Hi 96753
email: nickens@maui.net
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