Moffett Properties - Surfingrealtors Summer Update

Aloha friends and neighbors! Welcome to my winter 2007 update - Maui is still Maui THE BEST PLACE IN THE WORLD TO LIVE! Some things will never change. We have had a great surf season so far and I am looking forward to some spring time empty waves coming my way. The real-estate market has slowed somewhat but over all is still very strong. We have seen a drop in the volume of sales for both residential and condos but an increase in price per sale. We have seen some price reductions but really it seems that sellers are just moving the asking prices to realistic values and not lowering them below other recent sales.

One thing to note is that the super high end is doing very well - in fact better than very well - better than ever. We have had some incredible oceanfront sales in 2007 and are on track to sell twice as many oceanfront homes this year than last on West Maui. Another interesting fact is that our buyers are getting younger. Gone are the days of the 70+ retiree coming into the Maui market for a retirement home - now we are seeing 45 to 60 year young buyers coming over and living large! Life is good and Maui is a great place to enjoy it.

A few of the projects that I really like right now are Kahana Ridge, I think that it is under valued. Kapalani Estates, again under valued based on the location and quality subdivision. All of Kapalua is great and there are both turn key and fixer upper opportunities depending on your ability.

Molokai has taken the largest hit in regards to sales volume, it has in fact dropped off the map. So far this year there has not been one recorded sale in the Papohaku Ranchlands subdivision. We did sell a lot in Moana Makani but that has been it. We have still been getting lots of calls and expect that the buyers are just waiting to see what will happen with the market. Molokai will be fine - it is a quality of life purchase and as we all mature (LOL) it will pull some of us to the charm and quiet seclusion that only Molokai can offer.

Building costs and permit times are still out of this world. My advise is that unless you are in the trades, buy existing, it may save your sanity. Remodels are doable but can still be very frustrating. I have friends that have been waiting for permits for almost a year and others that are hoping to be in their new home after two years of construction.

Ok - back to basics - did I say how nice the weather is here on Maui today? How much fun I had fishing with my kids last weekend? How much I enjoyed the sunset from the spa last night and the BBQ right next to the ocean? Yes life is good here on Maui and I think that there may be room for just a few more lucky people to enjoy it. Give me a call and let me show you how it can work for you!!!

Buz

your surfing realtor

808-870-6794

The Surfing Realtor's Summer 2005 Update

What a year - just when you think things cannot go any higher - boom - it does! Values both on Maui and Molokai have reached new highs and are still growing. We have seen properties flip within 6 months of sales for 30 to 40% higher sales prices.

The market here on Maui is being driven by all you baby boomers (me included) that are setting them selves up for vacation/part/full time homes on Maui. With interest rates remaining at low levels and the boom in the building business (not to mention the time it takes to get a home constructed) single family home sales are the strongest part of the market from what I can see. I had a great friend and client in town a few weeks ago and although he has bought and sold many homes on Maui over the years he still said that compared to Southern California we are still under valued. Wow - what a shocker - can you imagine - undervalued! I still can't. Not only are the low to mid range homes moving ($700,000 to $2,000,000) but the high end as well. We have seen 2 sales on West Maui over five million this summer and one in escrow. This is a real indication of a strong market when all levels are moving. I know that many economic forecasters are predicting a bubble in the current real-estate boom but with the amount of baby boomers out there coming up on retirement age, we may have some staying power in the Maui market.

Regarding Molokai - over the past six months we saw a large slow down in sales as many owners felt that their properties had increased in value up to 300%. They did not! They went up 200 to 250% - as if that is not enough. With the unrealistic asking prices buyers just shut down on buying for a few months - as some owners have come back to reality and lowered the prices we have seen some strong sales in the past 60 days and it looks like that trend is continuing. We have had multiple offers on some of our ocean front properties on the West side of Molokai and with the strong demand for quality locations I expect this to continue. Molokai is still the best value in the State of Hawaii if you are looking for a quality area with fantastic natural beauty and great surf!

Please let me know when you are ready to dive into some of the quality of life that we enjoy here on Maui and Molokai and I promise to do my best to make sure you land on a very special place in paradise!

Aloha, Buz Moffett Your surfing realtor

The Surfing Realtor's Winter 2004 Update

2004 ended with a big bang rather than a fizzle - the market had a few slow periods right before and after the election but for the most part was strong to the end of the year. The over all feeling seemed to be "this is Maui, why would we not want to be here" and I agree.

I sent out an interestingholiday greeting to many of the homeowners on West Maui this year and had a lot of laughs with people that I had not talked to for years. I was in the process of ordering refrigerator magnets (you know the ones that say "think of me when buying or selling real-estate") and realized that I did not have
time to get the order in and the magnets sent out before Christmas. I also went through the letters that I had received and counted 7 magnets (and or mini calendars) that had made their way to the trashcan. Well the decision had been made at that point - I sent out a crisp one-dollar bill to each homeowner on west Maui with the explanation that they may have better use of the buck than the refrigerator magnet that I had planed on sending out. It made quite a stir in the community and I even got a write up in the Lahaina News. I guess it goes to show how easily we are all entertained.

On to Molokai - 2004 was a record year for the friendly isle and I do not expect it to be repeated for some time - we have seen the property values more than double in the past 12 months and sales slow to a crawl as sellers try and market properties at over three times what they paid just last year. The oceanfront properties are by far the best value on the island right now as they are still in the one to two million-dollar ranges for five acres and in my humble opinion have not "made the move". A comparable lot on Maui would push ten million dollars, and although I do not believe that Molokai will reach that level in my lifetime I would say the potential is good. As always the main reason for investing on Molokai has to be quality of life - if you are looking for a quick return I have a condo on Maui just waiting for you! A vocal few on the island of Molokai have been speaking out on the speculation going on and they have some real issues with it and I do
understand their position. As residential values increase so do the rents and property taxes and when you have no plans on moving or selling this can be a hardship. Lets all keep this in mind when we visit their beautiful island "bring your aloha but leave your kala ($)".

Maui is going off as I write - we have more and more island residents selling their homes and moving into larger nicer homes and neighborhoods. We have the mainlanders coming in and buying into the dream of an island retirement and many investors realizing that although Maui may not be the best investment in the
world (I get the same question asked of me almost every day "what's the best investment you have?" and my standard answer is buy the house next door to the house you live in (where ever that may be) it is the safest best investment you can make) but if you are looking for white sand beaches and clear water and whales and lots of sun and fun - Maui No Ka Oi (Maui is the best).

I still have the best group of clients in the world and am gaining more all the time –

Curtis Robb (my main agent) is doing great and is looking forward to building his dream house in Kaanapali Golf Estates and has been having a great year –

Paul Halberg - my #1 assistant and good buddy has been on the monster weight loss program and is doing unbelievable – keep it up Paul we are hoping to see less of you in 2005!

As always I invite all of you to drop me a note, walk up and say hi or give me a call, I would love to hear from you and remember if you are in the waters of Maui or Molokai and see a guy with a huge smile on his face you could be looking at the surfer that sells real-estate!

A Hui Ho

Buz Moffett
Your Surfing Realtor

The Surfing Realtor's Summer 2004 Update

Wow – the last year has really flown by! Had some great surf and tons of property sales. The past year (thanks to all my incredible clients) was one of my best years ever! Some of the highlights of the past year are that the values on both Maui and Molokai have increased dramatically. Maui homes that were selling in $400k to $600k are now selling in the $550k to $900k range. We have seen vacant lots virtually disappear from the market and the lots that do come on the market are selling for $400k to $800k. With the inventory at a very low level and the interest rates still at historic lows market activity is still very high and most properties are going under contract within 30 days of coming available.

Molokai is seeing the same high activity and values increase with the overflow buyers from Maui and the mainland realizing what a great quality of life purchase the island has to offer. Although I still am telling people that from an investment standpoint Molokai is an unknown and historically has not preformed, the increase in values over the past 12 months is staggering. Molokai still has the same uncrowded beaches and very rural life style that people have come to expect and enjoy as well as the only island with no stoplights in the state.

I am heading off to the mainland July 21 to August 4th to see the in-laws and do some wake boarding on lake Michigan. I will be home for about a month and then off to Indonesia some time in September for a few weeks of some real waves. I am hoping to catch G-land and Desert Point this year – so check back for some pictures and text on the 2004 surf adventure.

As always, myself and my full time assistant Paul are available to help you with all your Maui, Molokai and Oahu real estate needs. Starting in August we are adding a new member to the surfing realtor team. Curtis Robb has been licensed in Hawaii for over 10 years and has been very active in the West Maui community. Curtis, his wife Julie and their three kids are great people and are going to be a great addition to the Team.

Aloha for now and please drop me a note or give me a call to let me know how I can help you find your dream property or investment in Hawaii (or just to say hi!)

Buz Moffett
Your Surfing Realtor!
Owner / Broker
Moffett Properties

The Surfing Realtor's Summer 2003 Update

Wow !!!!!!!!!!!! I think that sums it up pretty well. I have had some of the best experiences of my life this summer and many of them are due to my incredible clients! I have been meaning to update the site for at least a month now but with the current sales activity and my traveling back and forth to Molokai it has been put on the back burner for a while. Well now’s the time and I just would like to say thank you to all of you that have been hanging in there with me over the years and have helped make this a record breaking year for your “Surfing Realtor”!! With over 13 million in recorded sales for 2003 so far and 2 million more in escrow – I have proven the point that an honest, hard working surfer with some incredible clients - can sell some serious real-estate! Enough about me lets talk about you and the current market here on Maui and Molokai! “Can the prices go any higher on Maui?” I have been asked this question hundreds of times in the past few months and at this point I have to say “MAYBE????” I wish I new the answer I really do because – you – my clients would be the only one I would tell – promise! I have watched, over the past six months, most residential home prices increase to the point of pricing out most local families with out some type of help. The lowest priced home on West Maui at this time is $499,000 and they are still selling – fast.

When we had the increase in the interest rates happen in August – I thought ok here we go – things will start slowing down and prices will stabilize. How wrong I was – buyers rushed in to secure their loans before the rates went up higher. We had a rush of sales and the momentum has not stopped. With the limited inventory and highly motivated buyers just waiting to pounce this has made for an incredibly active market. I have clients that are just waiting for a unit in some of our favorite complexes to come on the market so that they can get right on them – well let me tell you – if we don’t act the day they come on the market we may not be in the running for the unit! I know a lot of you (including myself) loved the Kuleana complex. We just had a one-bedroom unit sell at full asking price ($399k) with 6 days on the market, unbelievable.

The complex that I like the best right now is the Puamana resort on the South side of Lahaina. This resort, with over one mile of oceanfront property and units ranging from one to four bedrooms has it all. Great beaches, three surf spots (ask for details) three pools and one of the most classic buildings in all of Hawaii. The Puamana Club house is over 100 years old and was the sugar plantation manager’s home for over 50 years. It has been lovingly restored and is now used as a party and meeting area for the owners and guests in Puamana. Ask me about this property as units only rarely come on the market.

Lets talk Molokai – We have been selling like mad on the “Most Hawaiian Island” for about the last 6 months. Where else in the country can you buy a five acre home site with views of the surf breaking on a white sand beach with incredible sunsets and underground utilities for under $200,000 – only on Molokai – If you think that you can deal with the remote, peaceful, slow moving lifestyle give me a call.

I am hoping to have pictures of my Indonesian adventure this summer up on the site in the next few weeks so please check back often and thank you for making it possible for me to rejuvenate myself in some serious surf this past summer!

Don’t forget about Matt – I am proud to announce that I have added a new valuable member to the Moffett Properties team – Matt Imhoff, Realtor, Salesman. Matt is a great guy, smart as shi%#$@ and has an incredible work ethic. Please give the kid a chance – you will not be disappointed! Please drop me a note or give me a call and I will get right to work finding you the most perfect, incredible property in the whole world!!!

Aloha,

Buz Moffett
Your Surfing Realtor!
Owner / Broker
Moffett Properties

The Surfing Realtor's Spring 2003 Update

Aloha Surfers and future surfers from your Maui connection.

The past few months have been out standing! We have just finished a great winter of perfect surf and some incredible real estate opportunities. This year will go down as one of the best for sales and purchases in the West Maui and Molokai areas of Maui County in the past 10 years - I guarantee it. With the interest rates at an all time low and inventory hovering between scarce and non existent buyers have been jumping on new properties as soon as they come on the market. Having sold off most of my listings in the first few months of the new year I have been working hard to find the best locations and deals for all my very special buyers, like you! Beachfront condos have been the strong sell with most of the better units selling in the $300k to $800k range but believe me there are some deals out there. One of the complexes I like the best right now is the Kuleana Resort in the Mahinahina area of West Maui (check out my surf spot properties for more information). It has everything but size in the units so if you can handle a small unit check these out. Another of the under performers right now I feel are the Kapalua Bay Villas. Comparable properties are selling for well over a million dollars but the Bay villas still have some deals available. Don't let me leave out all the great residential properties that have sold in the past few months! Many of these properties just do not come on the market very often so they where very popular. Being that the sales prices have been pushing $700k for some of the better locations in residential beach communities we have seen some of the classic homes that never come on the market available just because the owners can't resist this great market.

We just had our first South swell of the season and the surf was off the scale up and down the South shores of West Maui. The main spots did get packet but there was lots of unridden waves to be had and every one had a great time. Lots of sun burnt faces and big smiles for the past week. It looks like we may be gearing up for some good surf this summer but I am
still thinking about getting away for some good South Pacific Juice in the early part of the Summer so if you are planning your trip let me know early so we can hook up. Right now it is looking like Fiji in mid June - I just ordered a new board and that always makes me smile.

Molokai is finally starting to pick up some speed as we have sold five lots this year so far and there are four others in escrow right now. Molokai has never been much of an investment over the past twenty years or so, I have always said it is really a quality of life purchase but with the current activity you never know.

Well it is getting late and I have an early day tomorrow so I hope you enjoyed this first of many updates from the Surfing Realtor and please - please - please post something in my guest book - I know you are looking at the site and I would love to hear some of your comments (positive please as I am not sure how to delete the junk ones yet!) Only joking - but lets keep in touch.

A Hui Ho from your Surfing Realtor,
Wm. Buz Moffett
Owner / Broker
Moffett Properties

Contact Buz Moffett