HAWAI'I LIFEDeal – Price Reduction on Luxury Ocean View Condo at Hualalai Resort
Until yesterday, the entry level price for a condo at Hualalai Resort, home of the Four Season’s Hotel, was $1.295 million, (MLS# 223930), for a short sale condo. If you wanted to avoid the complexity of a short sale you would be looking at purchasing the condo pictured above (MLS# 236599), priced at $1.84 million.
The view is exceptional from this second floor condo, and includes the furniture. Topping out this particular condo complex is an end unit (MLS# 232642), priced at $2.465 million with panoramic ocean views.
That all changed yesterday when a REO/bank owned listing came on the market, (MLS# 240366), priced below a million at $994,900. This condo, currently assessed at $1,320,500, sold in 2006 for $1.8 million.
For less than a million, nearly 50% off its last purchase price, you get a three bedroom, luxury end unit condo with access to all the amenities of Hualalai Resort, and most importantly ocean and sunset views.
Eric, you beat me to the punch! One of our clients asked us to preview the REO over the weekend.
The bank just dropped the price on the REO MLS #240366 to $974,900. They are clearly motivated.
Erik – have you seen this unit?? There are definitely some “issues” with it – not the least of which is that it backs up to the Queen K- the highway noise is certainly something else. It’s a great price to “get in” to the Four Seasons Hualalai resort, but truthfully, there are many other properties I would personally buy for this price on island… no wonder they’re having a hard time selling it. Wonder how low the bank is going to have to go to sell??
Katie,
Yes I have seen it and it is close to the road but I didn’t hear any road noise when I was there. Did you? Would definitely want to check it out at different times of day to see.
On the plus side I like the elevation for breezes, sitting back and upslope from the rest of the resort. Yes there are better condos for the money along the Kohala & Kona Coast but alas none at Hualalai. As for price I’m game to write an aggressive offer for a buyer who would like to test that out.
Erik – that’s exactly why you’re our #1 Buyer’s Representative… you know all about Solid Representation for our buying clients and how to secure them the best deals around!! I look forward to reviewing your offer!!! :)
Some one grabbed this deal. It went into contract this morning. I will keep my eyes on it and let you know what price it finally sells for.