Pualani homes in the first phase were built starting in 2005 – many of the homes up for resale are short sales or REO’s
How Popular is This Area?
Home sales are on the uptick in Kona, and Pualani Estates is one of the fastest selling neighborhoods. This is an entry level priced subdivision with a mix of new homes under construction as well as the same models built earlier that are now up for resale.
So far in 2012, there have been 264 home sales in the Kona area for homes under $500,000. Almost two out of ten sales were in Pualani Estates as 28 homes have sold year to date. And buyers are still finding homes here with another 18 in escrow.
Here is a look at Pualani Estates homes currently listed for sale in the MLS:
New Construction or Resale Homes?
If you are looking in this subdivision you have your choice between new construction or a resale of a slightly older home. Both choices have their advantages. New construction can sometimes offer the option of customizing your interior – depending on the construction stage of the home when you purchase it.
Homes are still under construction at Pualani Estates and come with a 10 year limited warranty from the builder
You have a new home with a builder warranty for 10 years and know there no old problems from previous owners lack of maintenance. The downside is many of these homes are still under construction, so you may have to wait several months for your home to be ready for occupancy.
Resale properties often have the advantage of mature landscaping, saving time and money
On the other hand, the homes offered as resale homes are ready to go today and are usually priced tens of thousands of dollars below the same home under construction. Many of these homes are “distressed properties” – being sold either as a short sale or a bank owned home or REO. You will want to have a home inspection prior to buying these homes.
Pualani Estates Amenities
Whether you buy new or old, there are several great features you will find in Pualani Estates. First, many homes have an ocean view as the subdivision is built into the hillside. Just above Pualani Estates is Heights on Hualalai, upscale homes with the same views, but listed in the million dollar plus range.
Neighborhood Park with soccer field, baseball field, and jungle gym for kids
A big plus for many home buyers here is the recreation park located at the base of this subdivision. The park has a ball field, a soccer field, and large jungle gym area.
Also, there is an active homeowners association overseeing the neighborhood and enforcing the CCR’s. And finally, since many of the lots are smaller, all homes are on a sewer system, so the homeowners will never have to worry about septic system problems.
If you’re looking for a home under $500,000, this is definitely one area you should look into.
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