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

July 1, 2010

By: Fred V. Burgart (PB)

Frederick V. Burgart, Realtor

Aloha Papakea Owners & Future Owners,

I hope everyone enjoyed their 4th of July holiday. Last year it fell on a Saturday, and this year on a Sunday, and if you were lucky, you also got Monday off. I always enjoy it when you can get everyone together and celebrate the time with friends and family. On Maui, the first half of the year is light-years better than 2009. Tourism has bounced back to near normal levels, helping the Hawaii economy to slowly improve. Hopefully, in your area, you are also seeing some improvements.

2ND QUARTER  & MID YEAR SALES STATS

During the 1st quarter we had just 1 sale; but 6 closed sales in the 2nd quarter, adds up to 7 sales for the first half of the year. Last year at this point there were only 3 sales, so things have improved since then. While that may sound good for Sellers, our inventory is very low with only 18 units currently offered for sale. We do have 2 units pending in escrow, so more sales are taking place. One of these is a 'potential short sale' so don't expect any good news with that one. Hopefully, things will continue to improve over the summer. For instant, up-to-date market activity, please check my website (where you are now)

MID-YEAR BOARD OF DIRECTOR MEETING

The most recent Board of Director meeting was held on June 18th in the upstairs AOAO meeting room. It was well attended by owners who were here on property. Many issues were discussed, but highlights of the meeting were:

1)Phase I Lease Renegotiation: An appraiser has been agreed upon by both the Weinberg Family and the Leasehold owners. Next step: Now we wait for an opinion of value. Feb 1st 2011 is when the new leaserents will be in effect.

2)Fee Simple Update: It was reported that it may take up to 2 years for the Weinberg Family to settle the estate. The leasehold owners hoping to buy their Fee Simple interests soon will now have to wait a while.

3)Monthly maintenance dues are increasing 12% for the 2010-2011 year. Part of the maintenance dues funds the Capital Reserves, which now tops $900,000 in cash to fund future maintenance projects.

FRED'S FEE SIMPLE SPECIALS

(BEST VALUE) #D-404, 4TH FLOOR, 3 BEDROOMS, 3 BATHROOMS, MAST BEDROOM WITH VIEW, & HIGHLY UPGRADED @ $850,000 FS

(BEST FIXED UP) #K-204, OCEANVIEW, 2ND FLOOR, 2 BEDROOMS, 2 BATHROOMS, MASTER BEDROOM VIEW, SUPERIORLY UPGRADED @ $875,000 FS

(BEST LOCATION) #G-304, OCEANVIEW, 3RD FLOOR, 1 BEDROOM, 1 BATHROOM, TILE & LAMINATE FLOORING, ATTRACTIVELY FURNISHED @ $525,000 FS

FRED'S LEASEHOLD SPECIALS

(SELLER FINANCING) #H-106, GROUND FLOOR, 2 BEDROOMS, 2 BATHROOMS, MASTER BEDROOM VIEW, BOB MARSHALL UPGRADED @ $595,000 LEASEHOLD

(THE WOW FACTOR) #F-210, OCEANFRONT, 1 BEDROOM  END UNIT WITH SO MANY UPGRADES (20 YEARS IN THE MAKING), ONE OF A KIND UNIT @ $1,000,000 LEASEHOLD

Aloha & Mahalo,

Fred


(Frederick V. Burgart, Realtor) Copyright © 2009 -