Barbara Potts

Kaanapali Shores Q3 2009 Sales Statistics

10-23-09

Quarter 3 - 2009

Kaanapali Shores Sales Statistics

Below are the sales statistics for Kaanapali Shores for the 3rd quarter of 2009. There were two sales during the quarter:

•· A one bedroom ocean view (#548 - 717 sq.ft.) that closed for $320,000 (not remodeled)

•· A two bedroom ocean view (#603 - 988 sq. ft) that closed for $670,000 (not remodeled).

Prices continue to be influenced by distressed properties on the market. Maui is considered a declining market on appraisal reports. Even though overall activity levels are picking up, there is still no sign that Maui condo prices will increase in the near term.

	Studio	1 Bedroom	2 Bedroom
Third Quarter Listings:
Units for Sale	8	25	11
Units Sold	0	1	1
Sold Price Asking Price High	n/a $399,000	$320,000 $649,500	$670,000 $1,950,000
Asking Price Low	$259,000*	$330,000	$299,000*

Short Sale/REO listings in Q3	0	3	1


Active as of 10/23/09:
Median Asking Price	$329,000	$459,000	$1,250,000
Low Asking Price	$285,000*	$379,000	$299,000*

Pending units as of 10/23/09	0	1	0

Active listings as of 10/23/09	5	15	7

Average Days on Market - 10/23/09	197

*Leasehold property

Lee and Barbara of Aloha Realty Group are proud owners at Kaanapali Shores. If you would like more information about buying or selling at K. Shores, call us and find out what makes the Aloha Potts Team different.

The Aloha Potts Team at Aloha Realty Group is certified to list and sell distressed properties.

For more details, contact us at 808-344-5008 (Barbara) or 808-276-8776 (Lee) or email lee@alohapotts.com or barb@alohapotts.com.

0 Comments

aina nalu Sales Statistics for Q3 2009

10-23-09

Barbara Potts

aina nalu Sales Statistics

Quarter 3 2009

July - Sept 2009	Studio	1/1 Upstairs	1/1 Downstairs	2/1 Up & Down	2/2 Upstairs	2/2 Downstairs
For Sale	1	2	2	2	11	11
Sold	1	0	0	0	0	0
Asking Price High	$239,000	$329,000	$465,000	$589,000	$549,000	$589,000
Asking Price Low	$239,000	$275,000	$349,000	$300,000	$298,000	$299,000
Median Asking Price	$239,000	$302,000	$375,000	$444,500	$399,000	$397,000
Average Asking Price	$239,000	$302,000	$396,333	$444,500	$418,136	$407,364
Median Sold	$195,000	n/a	n/a	n/a	n/a	n/a
Average Sold	$195,000	n/a	n/a	n/a	n/a	n/a
Median for Sale 9/30	n/a	$302,000	$362,000	$444,500	$399,250	$350,000
Average for Sale 9/30	n/a	$302,000	$362,000	$444,500	$412,937	$379,667

As of 10/19/09 there are 25 active listings, 11 of which are short sales or REO's (lender-owned) units. During the third quarter, 6 listings were canceled or expired and 10 new listings were added. There is one active listing for 50% ownership of a 2 bedroom, 1 bath unit priced at $225,000. The fractional listings are no longer active on the MLS.

Days on market as of 10/19/09 average 199.

We are aware of more foreclosures in process in Q3 and Q4. The combination of delinquencies, ratio of non-resident to resident owners, the ownership of more than 10% of units by one owner, and other current factors make obtaining financing to purchase at aina nalu challenging.

The Aloha Potts Team at Aloha Realty Group is certified to list and sell distressed properties.

For any aina nalu sales that are closed by the Aloha Potts Team, $100 will be donated to the aina nalu Charitable Fund, which is dedicated to local community assistance. We would be honored to represent you with a purchase or sale of Maui real estate.

Call 808.344.5008 or 808.276.8776

lee@alohapotts.com or barb@alohapotts.com

0 Comments

Distressed Properties in Maui

09-09-09

Barbara Potts

I attended a Brokers Forum today with the Realtors Association of Maui where John Anderson from Na Hale O'Maui (a community land trust) presented the following information about the growing foreclosure problem on Maui.

According to John, Maui's foreclosure rates are now equal to those of CA, NV, AZ, and FL - the states with disproportionately high foreclosure rates - and pending foreclosures here are increasing by 16% per month. Maui now ranks 9^th in the nation for foreclosure rates.

At the time he prepared his presentation, there were 338 active short sale listings on Maui's MLS and 72 REO's listed. Only 15% of the shorts sales are pending (60), while 36% of the REO's (41) are pending. This makes sense, since even though REO buyers are buying ‘as-is' with no inspections paid for by the lenders, they can get answers from lenders on REO's without having to wait for many months for answers as they do on short sales - especially since some buyers are trying to take advantage of the soon-to-expire 1^st Time Homebuyers' Credit.

As of today, Maui has 494 pending foreclosures, compared to 297 in April, 389 in June and 483 in August. John stated that 60% of the foreclosures on Maui are single family residences, the majority of which are owner occupied. The areas that are experiencing the most foreclosures are Wailuku, Kahului, North Kihei and Lahaina. This is primarily work force housing, and it's a real shame in a county where affordable housing has been such a problem for so long. The next problem Maui County will face is that August 2009 REO closings are priced at an average of 41% of the current assessed value, so our tax base is seriously eroding.

The silver lining is that for buyers with cash or the ability to obtain financing, prices are lower than they have been in years, and with all the foreclosures pending it will take a while to work through this much inventory -so prices should stay low for quite some time.

3 Comments

Kaanapali Shores Q2 2009 Sales Statistics

08-05-09

Barbara Potts

Quarter 2 - 2009

Kaanapali Shores Sales Statistics

Below are the sales statistics for Kaanapali Shores for the 2nd quarter of 2009. There were two sales during the quarter:

•· A one bedroom ocean view (#750 - 717 sq.ft.) that closed for $410,000 (not remodeled)

•· A two bedroom ocean view (#161 - 1078 sq. ft) that closed for $970,000 (not remodeled).

Prices continue to be influenced by the distressed properties on the market and the urgency to complete upgrades required to remain in the Aston rental program. Some appraisers are noting that Maui is a declining market on their appraisal reports. Even though overall activity levels are picking up, there is no sign that Maui condo prices will increase in the near term.
.

	Studio	1 Bedroom	2 Bedroom
Second Quarter Listings:
Units for Sale	7	24	14
Units Sold	0	1	1
Sold Price Asking Price High	n/a $449,000	$410,000 $649,500	$970,000 $1,950,000
Asking Price Low	$277,000*	$335,000	$545,000

Short Sale/REO listings in Q2	0	2	1


Active as of 6/30/09:
Median Asking Price	$309,500	$454,500	$1,250,000
Low Asking Price	$277,000*	$379,000	$545,000

Pending units as of 7/29/09	0	2	1


Active listings as of 7/29/09	6	15	8


Average Days on Market - 7/29/09	207

*Leasehold property

Lee and Barbara of Aloha Realty Group are proud owners at Kaanapali Shores. If you would like more information about buying or selling at K. Shores, you owe it to yourself to find out what makes the Aloha Potts Team different.

The Aloha Potts Team at Aloha Realty Group is certified to list and sell distressed properties.
For more details or to request your free property analysis, contact us at 808-344-5008 (Barbara) or 808-276-8776 (Lee) or email lee@alohapotts.com or barb@alohapotts.com.

0 Comments

aina nalu Sales Statistics for Q2 2009

07-27-09

Barbara Potts

aina nalu Sales Statistics

Quarter 2 2009

Apr - Jun 2009	Studio Upstairs	1 BD Upstairs	1 BD Downstairs	2BD/1BA Up & Downstairs	2BD/2BA Upstairs	2BD/2BA Downstairs
For Sale	1	3	3	3	9	7
Sold	0	0	0	0	0	0
Asking Price High	$239,000	$428,000	$465,000	$589,000	$545,000	$475,000
Asking Price Low	$212,000	$275,000	$360,000	$400,000	$350,000	$330,000
Median Asking Price	$225,500	$329,000	$399,000	$489,000	$399,000	$399,000
Average Asking Price	$225,500	$344,000	$408,000	$492,667	$412,794	$402,000
Median Sold	n/a	n/a	n/a	n/a	n/a	n/a
Average Sold	n/a	n/a	n/a	n/a	n/a	n/a
Median for Sale 6/30/09	$239,000	$302,000	$465,000	$494,500	$398,500	$405,000
Average for Sale 6/30/09	$239,000	$302,000	$465,000	$494,500	$407,025	$413,167

As of 7/25/09 there are 19 active listings, 6 of which are short sales or REO's (lender-owned) units.

During the second quarter, 10 listings were canceled or expired and 5 new listings were added.

We know of at least 3 foreclosures that have taken place in Q2.

Days on market as of 7/25/09 average 259.

The Aloha Potts Team at Aloha Realty Group is certified to list and sell distressed properties.

Call 808.344.5008 or 808-276-8776

lee@alohapotts.com or barb@alohapotts.com

0 Comments

« Previous 1 2 Next »

Barbara Potts
Aloha REalty Group

Barbara Potts: Real Estate Agent in Lahaina, HI

Office: (808) 344-5008

Mobile: (808) 344-5008

Barb and the Aloha Potts Team are experts in luxury and investment properties, including 1031 exchanges and self-directed IRA investments in condominiums, homes and fractionals in West Maui.

About Us:

The Aloha Potts Team is led by Barbara and Lee Potts. A few things you might not know about this duo is that when they were well into their forties they trained for and ran the first marathon of the New Millennium in Hamilton City, New Zealand. They both completed their MBA's while holding executive positions and raising two children (one was a teenager). They've been lifelong real estate investors and, in 2003, decided to sell everything, moved to Maui and start a new real estate company. In 2005 we did.

What does all that have to do with getting a KILLER deal? Everything.

Running a marathon, especially one half-way around the world, is a major endeavor. But running the race and finishing is the payoff. What got us there was planning, determination, discipline and organization. After all, Lee was the executive vice president of a medical software company at the time and Barb was a business broker.

Getting an MBA is another major endeavor. Add to that Lee's position and VP of Marketing for a company that was preparing to go public and Barb's position in finance at Apple Computer and of course a teenager and one regular kid, once again you need a few things working for you. Planning, discipline, working smart and a certain lack of sleep come to mind.

When we moved to Maui, we knew two people. That was it. We put our experience and training to work. We worked hard and we worked smart. We got lucky and so did our clients.

The same planning, discipline and organization that got us through kids, school, starting and selling businesses, investing in real estate and moving to Maui not only got Aloha Potts started, but in less than two years we were among the top 10% of agents on Maui.

As investors, we learned over time that there are rules for making money in real estate. One of the rules is that you don't make your profit when you sell, you make it when you buy. That means you've got to be able to find and make great deals. Killer deals.

As with many things in life, when it comes to getting a great real estate deal it's not just what you know, but who you know and knowing where and how to look for deals. Closing a great deal for you is like running a marathon. It's the icing on the cake. And likely what led up to us finding that deal and negotiating it to a close for you started months or maybe years before you even met us.

That's why are motto is, "the smarter we work, the luckier you get." Give us call or send us an email. You'll see that we listen carefully, we know our stuff and we can help you get your slice of paradise.

Areas of Expertise

In Maui, a popular bumper sticker proclaims, "this ain't the mainland". That's good, and it's a warning. Maui is a relaxing paradise with plenty of fun things to and beautiful sights to see. It is a wonderful place to live and vacation.

Following are good words to heed when you decide to buy your dream home or investment property in paradise.

Something to consider is how you intend to use your property. That may affect your property tax rate.

How are you going to maintain your property? Wind, salt air, fast growing vegetation, termites and finding reliable help are a few considerations.

If you are buying a condo, you can for the most part eliminate the exterior maintenance concern, because you will pay a monthly maintenance fee and your association (AOAO) will care for the property. But now you need to understand your AOAO. What are the fees? What do you actually get for your money? Are the fees adequate to pay for the work that needs to be done, and are there reserves to pay for future capital improvements?

If you are planning to rent your property for vacation rental, you need to know if short term rental is allowed. Many areas in Maui are not zoned for short term rental and vacation rentals are not allowed. Likewise, many condominium complexes do not allow short term rental.

If vacation rental is allowed and renting is your intention, you likely need a rental management company. Some entrepreneurs rent the property themselves through VRBO and other methods. Before you try that, you may want to call us to discuss the legalities of the do-it-yourself approach.

If you hire a rental management company you can eliminate a lot of concerns, but once again you need to know what you're getting for your money. Some management companies charge 50% of the rental income to manage your property. Others charge 30% or less. That makes the 50% company seem high, but if the high priced company keeps your property fully booked and the bargain company gives you only 40% occupancy, which one is better?

That's where the Aloha Potts Real Estate Team comes in. We've been real estate investors all of our professional lives and have actively bought and sold real estate on Maui over the last 5 plus years. Some of what we know about the ins-and-outs of real estate on Maui we learned from studying and asking questions. A lot we learned the hard way by investing and learning as we went.

We wouldn't live anywhere else, and in May of 2008 we closed on another investment vacation rental condo for our portfolio. So, to us buying and investing in Maui is just like any other significant investment. You need an experienced team of experts on your side to reduce your risk and increase the fun factor.

Start now by going to our website, http://www.alohapotts.com/, or send an email to info@alohapotts.com and we'll send you our guide to buying property on Maui. It includes just about everything you need to know, but didn't know to ask.

Testimonials

"If there were an excellent ++ Lee and Barbara would have easily earned such a rating. They exceeded our expectations - and we have very high expectations!!" Owner Mahana

"I can't tell you how much more comfortable I feel because you and Lee are there watching out for ... things and keeping us informed. Thank you so much!" Owner aina nalu

Barbara Potts

Kaanapali Shores Q3 2009 Sales Statistics

aina nalu Sales Statistics for Q3 2009

Distressed Properties in Maui

Kaanapali Shores Q2 2009 Sales Statistics

aina nalu Sales Statistics for Q2 2009

Barbara PottsAloha REalty Group

About Us:

Areas of Expertise

Testimonials

Barbara Potts
Aloha REalty Group