Why Buy Maui Real Estate Now

I always find it interesting when buyers frantically buy real estate because everyone else is buying as was the case in the early to mid 2000. Supplies were limited, the demand was high, and consequently prices skyrocketed on Maui as well as most places in the country. For the most part, prices on Maui have stabilized with the exception of more moderate appreciation in the high end real estate, namely houses. See my previous blogs for my comments on this part of the market. I am now getting increasing calls from buyers who have been "sidelining" and ready to buy in the softening market. They are carefully selecting from the much larger inventory accompanied by more sellers becoming realistic about the asking prices and terms of the contract. This has been a bit wacky in the last year resulting in reality checks for sellers. There is no doubt in my mind, this is a good time to buy Maui real estate! But not a good time to buy and flip a property. Go to the "Property Search" on my website to peruse a nice selection of properties in what is a buyers market where the demand is not anywhere near the insanity that existed two years ago. The smart buyers realize you can never time the real estate market highs and lows as it can turn on a dime. Now there is an incredible inventory of fine condos and houses due to sellers who tried to time selling at the high end of the market. Currently, there are 1202 condos for sale in West and South Maui and 521 houses in the same region. However, interestingly, there were 1172 condos sold in 2007 and 403 houses. If you are considering owning a piece of Maui paradise, now is the time to start seriously looking at the inventory and start presenting offers that are more favorable to your terms. Don't wait until the media pundits say it is time to get in the market. Then it will be too late and it will become a sellers market again. Of course if you plan to buy and flip the property a year or two down the road, then Maui is not for you. For those who want to invest, money still can be made in construction of new homes but with the right formula and in the right locations. Similarly with remodels of condos and homes. If you have been dreaming of owning a piece of paradise, now is the time. Maui is not suburb America, it is a tropical resort destination with limited housing to meet the future international demands. Please call me if you have any questions regarding the market, strategies and of course the wonderful Maui lifestyle whether it be full time or part time.