Maui-Realty.com is dedicated to "The Papakea Beach Resort. We provide you with current condo/unit sales information which will help you with your purchase decisions. Please call and ask for Frederick V. Burgart, Realtor.

Thanks for visiting Maui-Realty!

Frederick V. Burgart, Realtor

P O Box 1921
Wailuku, Maui, Hawaii 96793

OFFICE: 1-(808)-242-7249
FAX: 1-(866)-451-2365
EMAIL:

Click on any of the options above to find the information you need. Or if you are interested in any other condo properties, I have full access to the complete MLS system. Please feel free to email me so I may provide you with the info you need.

Frederick V. Burgart,

FAIL (the browser should render some flash content, not this).

Latest Newsletter

PAPAKEA

ROUND-UP

January 1, 2010

By: Fred V. Burgart (PB)

Frederick V. Burgart, Realtor

Aloha Papakea Owners & Future Owners,

Happy New Year to all!!  If you were here this Christmas/New Years, Maui was as beautiful as it gets with clear, blue, windless, sunny skies that lasted for days and days on end. If you came for a little R&R, this year was the best. Although tourism has been soft throughout the year, most resorts were fuller than last year and beaches seemed crowded with families happy to be soaking up some warm Maui weather. Not that it is the start of the New Year, it'll probably slow down again as it typically does in January. But tourism is predicted to slowly get better and better throughout the year.

4TH QUARTER & YEAR END SALES STATS

(this website newsletter has been modified to give us the correct number of sales during the year as there was the sale of 1BR #B-301 that closed before the end of 2009 , but was reported a few days after the 1st. If you received my newsletter via the mail, there was reported 9 sales during the year, which now we have 10 and stand corrected.)

The 2009 year finished off with 4 closed sales in the last quarter, bringing us up to 10 closed sales for the year. This is a bit slower than last year's 15 total sales, but what the heck, 2009 just wasn't a good year for holding on to values. And with the economy still trying to gain some momentum, we have yet to see anything consistent in the way of increasing sales. Our current inventory us up to 23 units offered for sale. We have seen some surprising low sale prices as some investors looking for the best deals are negotiating Sellers down to rock bottom. Fortunately, most Papakea owners don't have to be desperate. We have only 1 unit currently pending in escrow, which will be our first closing for 2010.

LAST BOARD MEETING OF THE YEAR & FEE SIMPLE UPDATE

The Board of Director meeting was held December 11th in the upstairs AOAO meeting room. It was pretty much  business as usual until Michael Pang, the OAOA  representative who will be negotiating the leasehold values in the coming year on behalf of the Papakea leasehold owners, told the members present that our longtime landowner, William Weinberg, had passed away recently. This raises the speculation that there may be a chance the Weinberg family might also have an interest in selling the Fee Simple land (again) to the Papakea leasehold owners. I know many owners have been waiting for the Fee interest to become available again, especially the owners who didn't have the opportunity to buy the Fee interest when it was first offered in the year 1996. Having the Fee interest available again could be an important step in retaining the Papakea values, for now and in the future.

Let me know what you want to know. How do I know so much?  Real estate licensed since 1982. Broker licensed since 1988, and over 160 completed sales for Buyers and Sellers at the Papakea. That's how!

Aloha & Mahalo,

Fred


© 2009. All Rights Reserved Frederick V. Burgart, Realtor.