Puu Lani Ranch homes are selling quickly with 5 homes having gone into escrow in the past 45 days. AllÂ 5 of these homes were REOs (Real Estate Owned homes), or homesÂ that had gone through foreclosure and were being sold by the bank.
However, of the 6 homes still available for sale, there are still some deals to be found in this ranch community located halfway between Kona and Waimea.Â Two of these homes are REOs, two are short sales, and two are very nice regular for sale homes.Â Yes, those homes do still exist here in Hawaii.
This 3 bedroom/2 bathroom home (MLS# 246023) has 1,764 sq. ft. of living area on 1 acre for $354,900 and has only been on the market for 1 week
Just a few weeks ago, I toured the REO homes in Puu Lani Ranch and was amazed at some of the great deals that were just sitting there.Â These homes did not last much longer. As I said, in the last 45 days, 5 REO homes have gone into escrow.
A quick background on this ranch community, Puu Lani Ranch has just over 60 homes built, largely on one-acre lots, although there are a few two-acre lots also. Home sizes range from a few smaller homes with about 1,600 sq. ft. to one 6,000+ sq. ft. home, but most range in the 2,500 to 3,500 sq. ft. area. In past years, sales have been very slowâ€”only one sale was recorded in 2010.
This custom built home (MLS# 234091) has ohia flooring, koa kitchen counters, and 2 master suites
Now in 2011, sales have been happening.Â There have already been three sales recorded in April and May, and now these 5 homes are in escrow, with prices ranging from $399,999 to a high of $742,500. The remaining three homes are all in the $400,000′s.
The homes listed for sale start at an almost unbelievable low price of $349,900 and top out at $695,000.Â All told, there are still three homes priced in the $300,000′s and one in the $400,000′s.Â To give you an idea of what a deal these prices are, most of these homes are priced at about half of what the previous owners had paid.Â Now the question is, how many of these homes will go into escrow in the next 45 days?
I love the Big Island! Aloha.