The paper and MLS keep tracking more sales every day. Is this a sign of what may be ahead??
Recent Maui Land Sales
Our most newsworthy sale for Maui County would have to be the majority of Lana’i to Larry Ellison last month for over $500 million. Not bad.
On Friday, another large land sale finalized for $12 million in Upcountry Maui. This was complete with subdivision approvals, well with pump for $45,000 per acre above Makawao town (MLS# 347399). I had the previous sale in January 2012 for 89 acres at $1.5 million (MLS# 350286).
These may be early indicators of things to come for Hawaii. Investor’s Business Daily reported on July 2, 2012: “Housing Near Boiling Point??…home prices rising and pending home sales hitting a 2 year high.” Read that how you wish – I am happy to be involved with a few new Real Estate projects.
Large Acreage Lot Getting More Activity
My listing of 633 acres in Kula, the Kalialinui Estate, is getting more and more activity from domestic and international inquiries (MLS# 351887). It is only a matter of time.
This property is ripe for the continuation of agriculture, land bank for preservation, or to create a few phenomenal building sites. We will see what happens in the next few weeks. On a side note, here is my Custom Sign for the property that ProDigital made and we installed.
Smaller Acreage Sales Also Picking Up
On the smaller side, I have been party to two 5 acre parcel negotiations. My listing at 1539 Hogback Road (MLS# 352257) has just opened escrow. This land size has had a difficult time for the past few months selling. Now I have had 2 escrows in the past 2 months; it is picking up.
These are just a few thoughts from my immediate experience. I will follow up with additional information on other properties that are showing that property sales are picking up pace with Real Estate Data.
Aloha and A Hui Hou,
JB
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