Sakamoto Properties

Property Value to Rebound with Low Maui Inventory
September 11th, 2012

Betty Sakamoto: Aloha and welcome to Betty's Real Estate Corner brought to you by Sakamoto Properties where prestige is our business, reputation our foundation. Fortunately today, my husband Roy Sakamoto is with me and we're hoping to come up with some interesting tidbits about some properties that we have for sale, maybe a little bit of information that we keep saying over and over but I think that's still important, information on financing and the reasons you ought to be purchasing right now, etcetera. So we're going to kind of just get started and hopefully come up with some things that will help you make a decision about buying real estate or getting financed or refinanced, etcetera.

Roy Sakamoto: Now this will be a fun show. Let's talk about our class reunion though.

B: That was great.

R: Class of 19 ?

B: 1960, Lahainaluna High School.

R: Okay, it was actually the seventieth birthday party for our classmates and yours truly, Betty's not quite there yet so let's not talk about that. But, a fun time in Las Vegas, we've never stayed downtown and we did this time.

B: It was really fun. The class, you know, if anyone's ever been involved with the Lahainaluna classes it really is an amazing thing and to learn more and more about each one of Roy's classmates is an amazing, I don't even know what to call it. But they did a thing this year and we thought it was kind of stupid, like why not come here? Everybody wants to come home, a lot of the people still live here but no they decided they want to go to Las Vegas. So then they decided they want to stay downtown, so we thought okay we'll stay downtown. But they actually had three nights of events and again you think "but what are we going to do for three nights". But they were fabulous. I mean, the first night it was just kind of a suite that was set up and everybody that lives in Las Vegas brought food or bought food and there was ?

R: What about the pupus that night? Wow

B: That was fabulous and then there was somebody that was playing the guitar, somebody was on the ukulele, there was dancing, singing ?

R: That was after a bottle of Crown Royal.

B: Yeah, I think there was a few people that were imbibing a bit there.

R: The pupus were awesome, we had a classmate from the Northern California area that drove down a truckload of seafood, clams and everything. Awesome.

B: It was awesome and we were there probably till eleven or eleven-thirty that night and the music just went on and on and on and the classmates were dancing. And one person, Janet, who lives in Las Vegas who did all sorts of amazing things, you know she had leis for everybody and certain things that identified who was actually the classmates and who was spouse or significant other. There were so many things that Janet did that really made this an unbelievable event. And again it just kept going on and on. Day two there was an official pupu party which was in kind of like a mini ballroom and that was really great and the hotel did all of those pupus.

R: Yes, not quite the same but good pupus.

B: They were great, it was all fun. And in day three they had some local entertainers that actually the guy is Hawaiian. I think he grew up in Hawaii but lives ?

R: He lived in Hana for a while.

B: That's right.

R: Yeah, Maui boy.

B: But he was fabulous, I think he does a country type show most of the time but he did all sorts of amazing Hawaiian music. His son was with him and his son danced the hula. The food was more of a dinner but everything was done in a very Hawaii style you would have thought at any time. They had some dancing that night, they did a lot of fifties, sixties, music and Hawaiian music.

R: We danced.

B: We actually did dance.

R: We actually danced.

B: For whatever it's worth, we used to dance but I think there's not a wife around that doesn't say that we used to dance. So anyway, Lahainaluna pretty great, pretty great school and what about football this week that we missed?

R: Oh, yeah. Big football game, I guess, what, six thousand people were there at the stadium, and great results for Lahainaluna.

B: Yeah, we don't want to go too far but I think everybody knows that Lahainaluna and Baldwin, they've had thing going on since you were in school.

R: Oh since before.

B: Since before, and Baldwin, I believe, is the bigger school so when Lahainaluna wins it really is a huge thing from the standpoint of the West Maui community. And they won the J.V. and the Varsity game in pretty great style. So they got some front page credits this last week, so it was pretty great but we missed it.

R: We missed it but you know what's great about the rivalry between Baldwin and Lahainaluna, there's great respect on both teams and the coaches and the players. So they'll play their hearts out, they'll try to beat each other up and at the end of the game they'll embrace and they're all friends again and that's the way it should be.

B: They are great, at the end of the football games and I think it's a Maui thing but there's a great saying and it's inside the stadium at Lahainaluna that basically says something like "Let the players play, let the coaches coach", and more or less let the public stay the heck out of the game, yeah. And the parents, etcetera, so that everybody knows that the point is that it's a game and everybody should be playing and the coaches should be taking care of what's happening and the public and the parents should realize that we've got to let people do their job. But there is a way, and I think it is a Maui interscholastic, or whatever you call it ?

R: Yeah, I think it's a great reflection of Maui society. That's how we are here on Maui and that's why people like to live here.

B: I think there is some amazing stuff here going on. So Lahainaluna, unbelievable school. I think they're beginning to work now so that by next year they'll actually be able to have night games at Lahainaluna. I think the bleachers will all be in, and that's going to be something that's been a long, long time coming. The field is one of the greatest, it's the best field in the state of Hawaii, it's the same field that the Dallas Cowboys have. But so far, they're not having any night football games because they can't accommodate six thousand people because the lighting, although they can light the game, there's not enough lighting in the stands or to get to the cars so that's all going to be fixed. There's going to be concrete bleachers that's going to be built in. everything, it's going to be fabulous. So I think hopefully next year or the year after that ?

R: I think next year and the great thing is, it's a community field so it's not only a Lahainaluna field. The whole community's going to be able to use it for soccer, for whatever, for activities. It's just going to be a nice venue for the citizens of Lahaina.

B: It's great, and for anyone that doesn't know, there's a very special lady that saw to it that this field happened. She doesn't like everyone to keep passing her name around and she believes that every contribution was important, and as important as hers. It mattered a lot to her that the community kept stepping in, but I feel like if she didn't step up and then call for other people to step in with her it never would have happened. So a very special thank you to her.

R: Oh, no question, absolutely. Quite a sweetheart and for anyone that knows her, and we won't say her name, but for anyone that knows her she'll make quite an impact in your life and is just a great mentor and a great woman.

B: She is, I mean she is one of the greatest mentors to a lot of people. Anyplace I go with her, she takes care of everybody around her. We'll go out to breakfast sometimes over at the Ritz Carlton and she knows each person working there and she knows who their children are and their grandkids are, their cousins or whatever. She addresses them all by name and she's always going to see to it, if they need something. One of the kids of one of the bell guys needed help with his wrestling team and she was very quick to give him a little bit of help. So in any event, should we do a little real estate?

R: Well, it's kind of a real estate show so ?

B: That's right, this is Betty's Real Estate Corner. Let's remember, first of all our number is (808) 669-0070, our website is SakamotoProperties.com. Our website is set up so that you can find any property on Maui by just going to that SakamotoProperties.com. We specialize in Kapalua, Kaanapali, and West Maui properties, but fortunately we've been able to do some other, we've done some properties on some other islands, we do every so often some Upcountry, and we've got a couple of agents that have done a number of properties in the Wailuku and Kahului area. So you can call us for anything and if we're not the right person we'll find the one who is.

R: Don't forget, we also have access to listings around the world from our website. In fact, we had a recent inquiry for a property on Phuket. And we have a contact there in Phuket who will be able to handle their needs. So call us, email us, my email is Roy@SakamotoProperties.com or Betty@SakamotoProperties.com and our website again is SakamotoProperties.com.

B: You know, one of the things, or the international set up we have is through LuxuryRealEstate.com but when you go to our website, again we'll be repetitive, SakamotoProperties.com, when you go in there you can search the worldwide listings. You can search almost any place in the world through it and it will come back to us so that we can help you and find the best referral. We've had a lot of contacts with these people at meetings over the years, so that we'll often ? Phuket is an amazing one because we made a great connection with somebody there. So I think there's a lot going on, we've been dealing recently with a lot of people from China, Japan, etc. and we've been fortunate to be able to do some amazing transactions over the years.

R: Yes, we have. And you've got some real estate articles.

B: Actually, I do. One that I think, I started to tell you this a couple of weeks ago, they're saying buy real estate when all of the best bargains are already gone. And that sounds a little bit odd, and I kept rereading this, and I thought that it would be interesting to tell you a little bit more about it. What they're saying is resist the urge to buy in regions where the housing recovery has not yet begun. Homes that might seem like once-in-a-lifetime bargains, but these areas are actually at risk of continued losses or years of languishing prices. What they ended up saying is that they tend to be places where the problem runs really deep so what you want to do and this was in the Bottom Line magazine and I don't have the whole thing here but what they're saying is, and this is where we are in Maui right now, things have started to happen again, people or jobs are starting to rebound and the prices, I think, have pretty much bottomed, it depends on exactly what you're looking at. Inventory is lower than what it's been for the last five years so all of a sudden, that falls into the category, you want to buy now that the worst of the market is gone, the best bargains are gone, but I think you're at the perfect time in the market because whatever you're getting in right now, the odds are pretty good we're going to see it bound back again.

R: There's no question about it, or you can join the masses that are going to say "God, if I had only bought then". I mean there's many of us out there and there's no question that now is a great time to buy. Just in Las Vegas, for instance, not to come back to our trip to Las Vegas, but the Las Vegas market is rebounding. We still see newspaper articles and TV shows that say that the market in Las Vegas is horrible, well I'll tell you something, if you're buying a property in Las Vegas and if you need an appraisal for a bank loan you're going to wait two months. The appraisers are so buried right now, there's a lot of stuff going on underneath the surface in Las Vegas and I don't think it's quite the time to buy yet in Las Vegas because the bargains are not gone yet. But as the article said, Maui is certainly in the right time right now.

B: I think absolutely. One of the properties we've talked a lot about Kapalua which is a place that we've done a lot of transactions over the years. But 114 Woodrose Place which is listed at $3.2 million is one of the largest lots at Pineapple Hill. We chatted with the owner recently and they have decided that they will be selling it completely furnished which is going to be great for anyone that steps in there and takes a look at it. There's artwork that will be excluded but there's people that will consider a trade for a well located condominium plus cash and I think that when you see in there the granite, it has the regular Pineapple Hill gate, a secondary gate into the property, huge ocean views from all living areas. It's one that if you're looking in that range, it's way worth looking at. So again call us (808) 669-0070.

R: That's such a great location, and for those of you looking to upgrade from a one-bedroom or two-bedroom condominium into a home like this, this is it. What a great chance.

B: There's so many of them right now that the question is: at what point are we? I feel like we went through a period at Pineapple Hill where we saw some low-priced homes and to a certain extent they were the ones that probably should have been lower priced homes and people are now doing major remodels to them. so that even though they got, theoretically, this great deal all of a sudden they're doing a major remodel so that they maybe paid two million or a little below or a little above, but now they're going to end up with a $700,000 or $800,000 remodel and they don't have the best view. So I think that these theoretical "Best Buys" are gone so it's time that you're going to step in, the market is starting to firm up, everything in Kapalua seems to be going in an upward direction. So if you buy now, you're going to get in, you're going to buy one that's going to have a great view, it's going to be hopefully in great shape, and you don't need to do an $800,000 remodel.

R: Well you certainly don't on 114 Woodrose.

B: No, absolutely not.

R: Just bring your toothbrush.

B: Bring your toothbrush, it's a great property.

R: What about 214 Crestview? It's the smallest floorplan at Pineapple Hill. It's all on one level, great pool, it's a three-bedroom, three-bath, owned by an entertainer in Branson, Missouri. He's downsizing and it's a great opportunity to buy this three-bedroom, actually three and a half-bath.

B: Right, it was built by Gary Dixon who was one of Maui's greatest builders. He did a fabulous job and like Roy says, it's a smaller floorplan, all on one level. Fabulous views that are never going to be blocked, there's no way it could be. There's a great pool, hot tub, really beautifully put together, fabulous custom cabinets throughout, imperial plaster walls, the top quality appliances, and it's not an overwhelming property.

R: No, it's not. Some of these second homes and third homes can get into six, seven, eight thousand square feet. This is a little under 3,000 square feet, very manageable, and the view is just fantastic.

B: Yeah, right. I think it really is one of the best properties you're ever going to look at. It's worth taking a look at whether it's a real estate broker listening to us right now or a prospect or someone that's been looking. Call your own real estate broker if you've got someone that you've been working with. We're certainly going to be there to work with you at any time. But a lot of you have worked with someone or you've been visiting and right now you're working with someone. That's fabulous, we're really connected to the rest of the real estate community and any of our properties we'll make easily ready to show. Call us, call your real estate broker, and let's get you to buy while the market is perfect for you.

R: (808) 669-0070 or email us Roy@SakamotoProperties.com or Betty@SakamotoProperties.com or again our website SakamotoProperties.com.

B: You know since you're in there if you send something I think it goes to Info@SakamotoProperties.com, if you're just trying to contact us it automatically goes to both of us if you have a question you want to ask us or if you're looking for the international properties and you don't find exactly what you think you should be seeing, let us know. We seem to be adding to our website all the time which is great. As listings change we try to move them out right away. If you're looking at 114WoodrosePlace.com you can actually go to that site itself, 114WoodRosePlace.com and you'll pull up everything, every photo on the property. That's pretty fun to take a look at also because you'll immediately see just that property and what we're saying and from that site you can also step into our website. So we've done a pretty good job getting us updated. Meyer Computer, our best friends ? they're good so if you're looking for a website you can also check in with them.

R: Okay, what about our professional golfer's home that is for sale?

B: Oh, Jim Furyk. Jim Furyk who's on the Rider Cup. Really an amazing man, and amazing family, and we have their home at the Plantation Estates listed for sale which is on a property more than two acres. The house itself is three-bedrooms, three and a half-baths, and then there's a separate two-bedroom, two-bath ohana which is over the garage. Three car garage and it's very private, you know, so that if you've got somebody staying with you I think it's often perfect to have them stay in their own place so that even though you're barbecuing in the barbecue area ? there were dueling barbecues between Jim Furyk and his dad Mike so they had, I think the father said that the best barbecue is charcoal and the son said gas so they had this huge barbecue area and they've got both barbecues totally set up.

R: Two built-in barbecues, one is gas and one charcoal, and they do have dueling barbecues.

B: That's how they set it up, but that house also has a great room that was originally used by Jim and his dad as a workout room. And the equipment is gone but it's a nice room, perfect for it, great view. There's an indoor and an outdoor fireplace. So if you're sitting outside at night and it's cooling off, you can have a great fire going out there and gathering around and outdoor furniture and doing some smores or something is really fun.

R: Or a glass of Brandy and a cigar after dinner. What a great spot.

B: Oh, good grief.

R: Anyway, how about the view from that property? 229 Plantation Club Drive?

B: Huge ocean view, every sunset, and you can see, I don't know exactly which holes, but when you look out in every direction but kind of off a ways you can see the golf course holes. You're kind of surrounded by golf course which is really, I think, pretty amazing but it's not like somebody is going right by you and you feel like they're looking in your living room or on your lanai. So again, fabulous house, Jim Furyk who is now on this year's Rider Cup coming up quickly.

R: The Rider Cup is coming up in two weeks or a week I guess.

B: Is it?

R: Yup, so how about 102 Honua Place while we're at the Plantation.

B: That's another one. It was built by CC&D, Ted Taylor. A fabulous home, larger, everything done to it, fabulous, fabulous condition, it was built by the builder for his own residence and that's where they've been living. I think they're probably going to move on and do it again just because it's what they do and they have fun doing it. But it is a house, way worth seeing and also has a great guest quarters and a fabulous media center.

R: The whole set up just lives and breathes quality, every aspect of the home.

B: Huge, huge views and it looks out, again, you've got sunsets, and it looks down toward Honolua Bay.

R: You're overlooking the greatest surf spot on Maui.

B: Yeah, we've had people that have looked at it specifically for that reason. You know that they can tell and they called and they're trying to figure out something looking at that direction. So I think it really is worth taking a look at that property. The bedrooms are huge, the master suite is really amazing, the bathroom: each one is done with very spectacular granites that they worked extremely hard for each bathroom to come up with the perfect, perfect product.

R: Even the laundry room has a heck of a view.

B: We are actually, speaking of views and etcetera, but I think I hate to say this but we are winding down to one minute left. I think it is, they're telling us it is. What else can you think of? You know, I still keep reminding people that on Maui there's probably a way that you can buy a property right now and you should call us (808) 669-0070 and let us try to work with you. We've got some great lenders and that would be the first place that we'd like to send you and have you work with them and figure out what you need or what kind of a loan. There's great FHA for anyone that can qualify for a VA mortgage. Amazing, amazing interest rates and different ways that you can go and we would love to help you.

R: Oh absolutely and as a final reminder "Live Aloha".

B: Live aloha. You can reach us again, at (808) 669-0070, or go to SakamotoProperties.com and let us help you in any way that we can. Or call your neighbor if you've got a neighbor that's a realtor you want to work with.

R: That's great.

B: So I think a special aloha from us and I think we'll be winding down and Danny Couch will probably be coming on. Aloha.

Mailing Address:
Sakamoto Properties
P.O. Box 10068
Lahaina, HI 96761
Contact:
Phone: (808) 669-0070
Fax: (808) 669-1234
Info@SakamotoProperties.com
Office Address:
Sakamoto Properties
Napili Plaza
5095 Napilihau Street #203
Lahaina, Maui, HI 96761
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