Kolea - Built in BBQ and pocket doors
I’ve blogged regularly about the REO (foreclosure) and short sale properties at beachfront Kolea and oceanfront Halii Kai on the Big Island’s Kohala Coast. Although there are also bargains to be had at nearby communities such as the Colony Villas REO my teammate Pam mentioned in a recent blog post, I am personally representing either buyer or seller in two transactions at Kolea and three at Halii Kai, with additional clients almost ready to submit offers. Why so much activity in those particular resort properties?
At the market peak, those properties sold at significant premiums to nearby competition because of their locations. There are very few Kohala Coast properties where you can walk to the beach. You can at Mauna Lani Point, but the lowest priced listing there is $865,000 for a 984-sq ft 1-bedroom with a carport and no ocean view, and a walk to a community BBQ grill. At Kolea, you can choose between two REO properties that are 2BR, 2BA, 1270 sq ft, with a built in BBQ on the lanai. One is priced at $424,900 for a ground floor and the other at $453,900 for a second floor. Read entire post →
