It is already July 1, 2010 and the fourth of July falls on the weekend. Yipee!!! There are two major beginnings that started today. The first is that it is now illegal to use your cell phone while driving, unless you are using a hands free device. For people like my wife, who only has her learner's permit, you are not allowed to use your cell even if you have the hands free device. If you get caught using your phone, the fine is $100 and if you get caught a second time it is $250. Wow!
The other major beginning that happened today is that the new Maui County Property Tax rates take effect and they are as follows:
Improved Residential (Second Home) went from $4.85 to $5.00
Apartment went from $4.55 to $5.00
Commercial went from $6.25 to $6.25
Industrial went from $6.50 to $6.50
Agriculture went from $4.50 to $5.00
Conservation went from $4.75 to $5.00
Hotel & Resort went from $8.20 to $8.30
Time Share went from $14.00 to $14.00
Unimproved Residential went from $5.35 to $6.25
Homeowner went from $2.00 to $2.50
Commercialized Residential a new category is $4.00
Maui County Property Taxes are determined by the appraisal value of the property and it is per $1,000 of net taxable assessment value.
In terms of South Maui real estate, our market experienced 133 new properties on the market, 108 price reductions and 65 sold properties in the past thirty days. As of today, there are 185 properties pending and under contract. There are 178 home for sale in South Maui, 18 are being listed as short sales, and 11 are bank owned properties. There are 485 condo's for sale in South Maui, 36 are being listed as short sales, and 18 are bank owned properties. The number of vacant land parcels for sale in South Maui is 72. When it comes to a great deal for a vacation rental, I still believe that the deals are at the Maui Banyan Resort. Q101 a two bedroom, two bath listed for $385,000 and H114 a one bedroom, two bath listed for $289,000 are not distressed properties. If you need more information about these two properties or any other properties that may be of interest to you let me know.
This post was published by Ken K.K. Wong REALTOR (S) an agent with Coldwell Banker Island Properties on July 1, 2010 at 4:49 pm
