One of the only two remaining foreclosures in the pipeline at the luxury Kolea condos at Waikoloa Beach Resort came on market a few moments ago. The 2 bedroom groundfloor condo Kolea 15G is priced at $429,900 (MLS 251456).
Even a foreclosure at Kolea still has the pocket doors and summer kitchen on the lanai.
I don't think it is accidental that the listing agents for REO properties (bank-owned after foreclosure) release their hot listings on Friday afternoon. If history repeats itself, the lucky new owner will be either a cash buyer or one with the foresight to have a prequal letter in hand to submit an offer over the weekend.
If that's a bit too quick for you, or you prefer the 3rd floor, Kolea 16J (my listing) had a price reduction to $499,000 today. That is a short sale and also requires a buyer preapproved by a lender or with cash in hand.
Let me know if you are ready to buy the lowest priced Kolea condo on the market!
A hui hou
Beth
For the first time in several years, as 2012 begins there is not a single 3-bedroom Halii Kai condo for sale that is a distressed property (short sale or bank-owned "REO" post-foreclosure).
As reported in my October Halii Kai update, the developer is nearly sold out. They actually released their model home of the groundfloor 3bed/2bath Kipuka floorplan as they have nothing left in this floorplan. And there are no short sales without offers in this popular floorplan either! The two least expensive choices are both in Building 17...$500-549,000 asking prices for a furnished condo with rental bookings in place.
View from the lanai of Halii Kai 15H, direct oceanfront privacy for $1,239,000 (MLS 240035)
On the heels of our sale of Halii Kai 15E we listed the same 3 bedroom condo on the other side of the building. Maybe the most private condo at Halii Kai, 15H is on the oceanfront and next to the rock wall separating Halii Kai from the Ke Kailani community at Mauna Lani Resort.
Short sale opportunities: both 2-bedroom floorplans available
If a two-bedroom works for your family-or you are looking primarily for an investment or vacation rental opportunity, there are still four short sale listings at Halii Kai (Disclosure: these are all my listings). One of them is the larger upstairs corner two-bedroom. Halili Kai 11A has ocean view and solid rentals, asking price $695,000.
Halii Kai 12C has the ocean view directly across the signature hole of the golf course towards the cove where the whales frolic in season. As a short sale, the asking price is only $549,000!
The lowest priced Halii Kai condo for sale is 18B, the smaller groundfloor 2 bedroom in the Coconut Grove with a list price of only $350,000! As with all short sales, these are unfurnished prices but in some cases the furniture could be purchased under separate bill of sale.
A hui hou,
Beth
In 2010, there were 12 condos sold at beachfront Kolea at Waikoloa Beach Resort--seven of them distressed properties (bank-owned REOs or short sales).
As of this morning, 13 Kolea villas have closed in 2011--nine of them distressed. There are also two short sales still in escrow, and two non-short sales in escrow, one of which will close before year end.
That is an incredibly consistent level of demand for the past two years. The question is whether it can be sustained in 2012, given that as of today we have only one distressed listing at Kolea and there is a significant gap between distressed and non-distressed pricing.
All Kolea villas have the upscale finishes; Kolea 16J is now lowest priced at $525,000 (MLS 233827)
There are only two active listings which are short sales and I've been told by both seller's and buyer's agent that one of them has an accepted offer ready to present to the bank. That leaves one Kolea condo for sale at a short sale price, and it happens to be my listing.
Kolea 16J is a 2-bedroom, 2-bath unit in the twelve-plex buildings. It has a strong rental track record and future bookings the lucky buyer could take over. The price was just reduced to $525,000...the same price for which Kolea 15J, one building over, just sold. Lienholder approval should be relatively straightforward on this short sale!
The condo is rented through the coming holiday week but available to view in early January. We had 4 offers within 48 hours when 15J hit the market, so don't hesitate if your dream is to own at Kolea!
Mele kalikimaka!
Beth
As summer 2011 arrived, homes in Maliu Ridge, the upscale community above Hawi, North Kohala, began to find buyers.
In May I reported that the Maliu Ridge home under contract was the first to sell since January. Since in a typical year, two homes in this area, that did not bode well for the other five homes for sale. But suddenly it seems that buyers have recognized the Maliu Ridge price war brought these Maliu Ridge homes with their big ocean views and peaceful rural Hawi location into "best buy" range!
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Real estate sales in North Kohala, Hawi and the Kohala Coast resorts of Mauna Kea, Mauna Lani, Waikoloa Beach Resort, Hualalai, Kukio, and Ka'upulehu. Great properties on the Big Island of Hawai'i.
E komo mai—welcome to your home on the Big Island of Hawai'i! I first fell in love with the carefree lifestyle of the Kohala Coast resorts, where I worked for the developer of the Kolea and Hali’i Kai oceanfront condo communities. I can help you decide whether Mauna Kea, Mauna Lani, Waikoloa, Hualalai or Kukio is the right fit for you.
I live and sell real estate in the Hawi, North Kohala area because I treasure its physical beauty, rural lifestyle, and the sense of community, values, and Hawaiian culture.
I offer you the diverse skills of a “professional chameleon” to work as your trusted advisor in Big Island real estate. As a PhD economist by training, I understand markets. As an 11-year veteran of Wall Street, I understand finance. As an entrepreneur, I ran both an artistic talent management business and a membership organization providing education for high net worth families. I’ve invested in real estate and managed my own rentals since I was in college. When my husband and I became full-time residents in Hawaii in 2005, I saw real estate as a natural avenue to continue to serve the client base I’d been working with for 30 years!
It really is a BIG Island, so I concentrate on selling real estate in the Kohala Coast resorts, including Hualalai, Kukio and Kaupulehu which are technically North Kona, and near my home in North Kohala. I can refer you to other great Hawaii Life agents elsewhere on the Big Island or throughout Hawaii.
Although there are modest starter homes from the $300,000s in North Kohala or Waikoloa Beach Resort, most of our ocean view and ocean front Kohala and resort properties would be in the $500,000 to $5 million+ range.
Sellers--I take listings here in the Hawi/Kapaau and Kohala Ranch areas as well as in the Kohala Coast resorts, and if you have a property to sell I can bring the best of Internet technology to help us find the perfect buyer. I understand how to sell vacant land and horse properties.
Buyers--Whether you are looking for a carefree second home in a luxurious Kohala Coast resort community, buying acreage or a vacant lot to build a “green” residence, planning for future retirement, or seeking savvy investment opportunities, I can help you sort through the options, guide you through the transaction and get you situated in the community. We often have pocket listings or ideas of who might consider selling to the right person, so don't be afraid to ask.
And if you are interested in an equestrian property, acreage, or ranch, my horse consults free of charge!
"For those of you, like me, who have had less than sterling experiences with Realtors, this is offered to you. I have had the pleasure of working with Beth and Pam on a prolonged Short Sale that would not have happened without their combined efforts that were above and beyond the norm of their profession. Although at first I was reluctant to have both the agents for the seller and buyer in the same office, with short sales it was a plus. Especially when they both are as professional as Beth and Pam. Their in-depth knowledge of the process combined with their experience resulted in a good outcome for all concerned. I have been very happy with their efforts and results and would not hesitate to recommend either of them to anyone interested in a real estate transaction, especially a foreclosure or short sale" -Chuck Guedelhoefer, Halii Kai oceanfront purchaser
I've also been encouraging my clients to review me on Zillow. Here's what they have to say:
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