Aloha from your resident experts!
We are living in interesting times. The current environment here at Aina Nalu is very quiet with few guests in the condos; it's mostly those of us who live here full time now under the new COVID 19 quarantine and social distancing dictates for Maui County. The pools, hot tub and pavilion are closed.
We are well and hope you are too during this challenging time.
Sales activity in our 1st Quarter was strong, but things have changed since short term rental incomes are suffering, economic markets have been hit hard, and realtors are only allowed to do limited showings and no open houses. We can still do online marketing.
Here is a summary of what happened in Q1 2020 vs. Q5 2019:
Q4 2019 Q1 2020
Listings 10 10
Closed Sales 3 7
Pending @ qtr. end 6 1 (unit I-106, 1 bedroom)
Active @ qtr. end 0 2
Units sold include:
Type Unit # Sold Price
1-bedroom downstairs G105 $455,000
2 bed/2 bath downstairs B110 $575,000
2 bed/2 bath downstairs I102 $570,000
2 bed/2 bath upstairs I208 $569,000
2 bed/2 bath upstairs G201 $575,000
2 bed/2 bath upstairs D202 $595,000
2 bed/2 bath upstairs C203 $599,000
At the end of the quarter, the following listings were active:
2 bed/2 bath upstairs C204 $615,000
2 bed/2 bath downstairs A104 $625,000
We wish we had that crystal ball now - it could come in handy if we knew how long this crisis will continue. Please let us know if we can help with anything, and take care, stay well.
From January 1 to March 31 there were 10 listings and 7 closed sales. There were 0 cancelling listings and 0 expired listings at the end of the quarter. There were 2 active listings and 1 pending sale at the end of the quarter.
For further information, contact Lee Potts at lee@alohapotts.com or (808) 276-8776 or Barb Potts at barb@alohapotts.com or (808) 344-5008. You can visit our website at AlohaGroupMaui.com for real estate information and surf all of the active listings on Maui anytime you like.
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Aloha Group Maui is a team headed by L. Lee Potts, MBA, REALTOR® R(B) and Barbara S. Potts, MBA, REALTOR® R(B) and former California CPA. We are businesspeople, and we treat our clients with the same care and service attitude that we would like to receive when we do business – and we do it with Aloha! We are in business for pleasure and profit. We expect that most of our clients will enjoy the property they own in Maui (pleasure), and it would be nice for everyone if your property performs well for you (profit). Real estate can be highly speculative, and profits are never guaranteed. So, if you are buying property in Maui, it’s a good idea to surround yourself with Real Estate Professionals.
Lee Potts holds an MBA and was the President of an international software company. He was also the Marketing VP of a publicly traded company and has been investing in real estate since right out of college.
Barbara Potts holds an MBA, was a CPA with Ernst and Young, held a financial management position at Apple, was Director of Strategic Marketing for Grass Valley Group (a division of Tektronix), was a business broker in California, and has always been a real estate investor.
We would be honored to represent you with a purchase, sale or 1031 Exchange of Maui real estate. If you’re in Lahaina Town, stop in and see us - our office is across the street in Dickenson Square, in Suite 212.
Copyright 2020 L. Lee & Barbara S. Potts
Statistical information in this newsletter is based on actual sales information reported to the Realtor’s Association of Maui, Inc. While this information is deemed reliable, it is not guaranteed. This newsletter is for informational purposes only and not intended as advice for investment or any other purposes. Real estate is considered to be highly volatile and purchasers and sellers of real estate should always seek expert outside advice before investing.
