Hawaii Life Real Estate Brokers » Short Sales

Dawn Surf Patrol at Halii Kai Resort

Diane Chavez, RS — Wed, 01 Feb 2012 23:06:32 +0000

Early Morning Surf Session at “Peaks” off the Mauna Lani Hotel

Just beyond the Canoe House Restaurant

The high surf warning draws a few “naughty” wave riders across the edge of the golf course around 6:30am as they anticipate the promise of a good swell. The resort condos are close enough to make this type of excursion effortless.

Halii Kai resort condos are a big favorite due to the quality construction. The ocean club with pool, fitness hale, Bar and Grill are uniquely well done and appreciated by the members. The lowest priced unit (MLS# 248981) available now is a short sale priced at $399,000. In the last 30 days, 6 condos down the coast have recorded at an average price of $487,500 so picking up a short sale is not a bad idea.

If you would like to see a Halii Kai condo and the local surf spot, call 808-987-8294 or e-mail me at diane@hawaiilife.com

3-Bedroom Home For Sale in Wailua Houselots – Short Sale Value

Ron Margolis, RA, ABR — Tue, 10 Jan 2012 22:24:08 +0000

My newest short sale listing is in this Wailua Houselots home for sale.

The houselots are only a few minutes walk to Wailua Bay, a good beach for swimming or kite surfing. It’s a simple, single wall construction home with multiple lanai and a carport. The lender is Wells Fargo and with Wells’ use of the Equator short sale system, things move fairly quickly, which makes it good for all parties to the transaction.

Buyers need to understand that in a short sale, the servicing bank (Wells Fargo) and any additional stakeholders like the investor (who owns the loan), or the mortgage insurers (whether the seller’s or lenders) may have requirements that effect the transaction. So, buyers must be patient while all these stakeholders weigh in.

Priced at $269,000, it’s a great way to get into the Kauai single family home market and so conveniently located (MLS# 251238).

For a greater understanding of short sales and REOs, download my Foreclosure Facts and Opportunities Toolkit. It’s FREE!

Waikoloa Village Home For Sale with Privacy and Large Backyard

Catherine Klug, RS — Sat, 07 Jan 2012 19:30:02 +0000

The distressed sales, like bank owned and short sales, accounted for more than 60% of all home sales in Waikoloa Village in 2011. Should you choose a straight sale over a distressed property, this move-in ready property might be for you! It is the original Waikoloa Bluffs model home (Mauna Kea model B). It is in good condition and offers privacy.

If you enjoy relaxing outdoors, you will take advantage of the huge fenced-in backyard with mature Hayden mango and tangello fruit trees. You could even consider future expansion, or install a trampoline or swimming pool. There is a large covered lanai, nicely protected from the wind, that is perfect for entertainment. It has enough room to set up a hot tub with an electrical 220 line already installed.

68-3563 Awamoa Place in Waikoloa Village (MLS# 250439)

Based on a price point between $300K and $400K, you will be looking at 19 homes for sale and 10 of them will be sold “as-is” since they are distressed properties (5 REO’s & 5 short sales). Among the 9 others, this one is kept with pride and situated on a quiet cul-de-sac. I would definitely put it on your ”must see” list. There are three factors when selling a home: location, condition, and price. This Waikoloa Village home for sale listed at $350,000 meet all these criteria.

I live, work, and play in Waikoloa Village. Come by and I will show you around!

How Do 2011 West Hawaii Real Estate Stats Compare to Previous Years?

Dan Fumento, R(S) and Marion Fumento R(S) — Thu, 05 Jan 2012 22:16:58 +0000

Stat-a-palooza time now that 2011 is over and the new year begun. We put together some interesting stats for West Hawaii condo and residential sales. These stats cover the area from Keauhou to Waimea (TMK 3-6 and 3-7).

It’s interesting to note here how similar these graphs are even though one could make the case that many condo buyers are second home buyers and many residential buyers are not. Nevertheless, the graphs show an up-turn in the years the financial crisis was erupting and a steep decline starting several years before.

Now, let’s look at prices over the same period of time:

Again the graphs are similar and both show a price decline that is in its sixth year. So, unit sales are picking up as prices continue to decline. Clearly a buyer’s market, as they scoop up bargains at prices that might not be seen again for some time. We know that inventories are very low and it will be interesting to see how that affects prices in the coming year.

At some point, the laws of supply and demand will kick in, and prices are bound to stabilize and turn again. We already have clients who would like to purchase a second home and can’t find what they want because the inventory in some condo complexes is slim or non-existent.

Our advice to potential buyers and clients who have been looking for the opportunity to purchase in Hawaii is to start looking for what you want now. It may take a while to find and we think there is greater upside potential for prices than downside.

For more detailed market information contact us.

Deal – Price Reduced On Waikoloa Beach Villas Townhouse

Dan Fumento, R(S) and Marion Fumento R(S) — Tue, 27 Dec 2011 04:20:51 +0000

We blogged recently about Unit A4, the only townhouse available at the Waikoloa Beach Villas. It was listed at $450,000 then and we thought it was a good deal. These 3 bedroom townhomes sold in the mid $800K range at the height of the market. The list price on A4 has just been reduced to $429K, making it an even better deal.

It’s in a great location overlooking the lawn and garden area, just steps to the pool, workout room, and BBQs. Unit A4 (MLS# 243992) is 1,874 sq. ft. with one bedroom downstairs, and two bedrooms and a loft upstairs. This unit has beautiful cherry wood cabinets, two lanais, and a garage included. This is a short sale and it is being sold unfurnished.

Waikoloa Beach Villas

The Beach Villas is a low-density, gated complex of 120 condominiums on approximately 13 acres. Because of its proximity to the shops, restaurants, and the beach, these units do very well as vacation rentals.

Resort Report – Mauna Lani Resort Sales (Nov. 2011)

Dan Fumento, R(S) and Marion Fumento R(S) — Sun, 18 Dec 2011 20:49:35 +0000

Here’s an update for condo sales in the Mauna Lani Resort through November, 2011. The first graph tracks the number of condos sold:

While this graph shows condo sales trending down over the course of 2011, it is interesting to note that condo sales in Mauna Lani are at 57 through November compared to 40 for the same period in 2010. Two of the three sales in November were resales, one was a foreclosure.

The next graph tracks the median selling price:

Clearly, prices are not plunging and seem to be holding their own. As of the end of November, there were 51 active listings in Mauna Lani compared with 47 at the end of October.

So, unit sales are up for the year, prices seem to be steadying out, and inventory is still on the low side, historically. Has the market bottomed? Are we seeing a consolidation as things stabilize? Does this mean great deals will be harder to find going forward?

50% Off Keauhou Surf & Racquet Club Condo – Strong Rental History

Pam Deery, R(B) — Wed, 07 Dec 2011 00:20:57 +0000

Alii Drive Oceanfront Condo For 50% of Original Cost

I recently listed this oceanfront beauty on Alii Drive (MLS# 249193) in the Keauhou Surf & Racquet Club as a short sale. It is a beautifully remodeled, two bedroom/two bathroom, ground floor condominium…the views are truly on the water and mesmerizing with a nice yard for playing, sunning, or just enjoying Hawaii living!

The open floor plan has stylish shoji doors to the master suite for privacy, a beautiful all new kitchen with oak cabinetry, stainless appliances and solid granite counter tops, and a beautiful built-in dining hutch and entertainment center in the living area. The guest suite is separated by the two completely remodeled bathrooms for added privacy and separation.

Keauhou Surf & Racquet Club

Keauhou Surf & Racquet Club is at the south end of Alii Drive and just a few minutes walk to Keauhou Shopping Center, Kona Country Club Golf Courses, the Harbor, and the beach. The complex is oceanfront and has a very large pool, rec center, volleyball, and tennis courts with lights for night play; something few other complexes offer.

If you are looking for an exceptional unit at a great price, set up as a high demand rental complete with a book of business in place, this property can be purchased at less than 50% of original cost to the sellers.

November Sales Summary For Maui Homes and Condos

Loren E. Clive, R(B) — Sun, 04 Dec 2011 01:00:49 +0000

Standout Statistics For Homes

Distressed sales, including short sales and REOs (bank-owned foreclosures), now comprise 44% of the home market; even more than I thought!
Median home price is down to $445K.
Inventory levels continue to decline. This metric indicates an improving market according to the laws of supply and demand. There is currently a 10 month supply of homes on the market, down from 16 months (respectively) in October.
Average days on market hover near five months. We at Hawaii Life do better. My aim with each property I list is to have it in escrow in the first 30 days.
In South Maui, Kihei experienced a slight uptick in median price, Maui Meadows almost doubled and Wailea’s median price fell dramatically from $2.4M to $1M.
Home sales are up 10% by volume with average sales price flat from a year ago; median prices are down 5%.
Central Kahului/Wailuku continues to dominate home sales volume with nearly 1/4 of the market by units sold, and Kihei running second at 17%.

Standout Statistics For Condos

Distressed sales, including short sales and REOs (bank-owned foreclosures), now comprise 33% of the condo market.
Median condo price is down to $216K.
Inventory levels continue to decline. This metric indicates an improving market according to the laws of supply and demand. There is currently a 15 month supply of condos on the market, down from 19 months (respectively) in October.
Average days on market hover near five months.
Condo sales remain the same by volume, but average sales price is down by almost 25%. Vacation rental shoppers (pay attention!), now is your opportunity to purchase that second home at a deep discount.
Kihei tops the condo market with some 37% of volume by unit island-wide. Other top condo sales locations include:
- Napili/Kahana/Honokowai at 20%
- Kaanapali at 11%
- Central at 11%
- Wailea at 9%
- Maalaea at 4%
- Kapalua at 2%
- Full report from RAM

Questions on how the market affects the sale or purchase of a home on Maui? Contact me for a complimentary comparative market analysis that shows what homes are selling for in your area of interest.

Top 6 Kihei Ocean View 2-Bedroom Condo Deals Under $500,000

Kevin Spaise, RS — Sat, 03 Dec 2011 23:45:12 +0000

For a lot of buyers, it makes no sense to buy a Maui condo without an ocean view. It makes equal sense, for those with large visiting family or with plans to retire on Maui later, to buy a 2-bedroom unit rather than a less practical 1-bedroom.

These condos represent the best of both worlds for under $500K. The video showcases:

A $269K short sale (MLS# 347819) near Kamaole I Beach and The Cove.
A $395K Central Kihei oceanfront condo (MLS# 349985) with a lawn that meanders to the ocean.
A $415K top floor unit at Haleakala Shores (MLS# 350024) across from Kamaole III Beach.
A $449K unit at Maui Vista (MLS# 350215) across from Kamaole I and Charlie Young Beach—top floor, never rented.
A $449K sixth floor condo (MLS# 339654) at Menehune Shores with direct oceanfront views.
A $495K condo at the Kihei Alii Kai (MLS# 349915) with one of the most over-the-top remodels.

Kevin Spaise is the author of The Maui Condo Book, the reference directory used my Maui Realtors, Brokers, Title and Escrow companies, and investors. He specializes in representing Maui condo buyers.

New 2-Bedroom Condo Listing at Maui Vista with Ocean View

Kevin Spaise, RS — Fri, 25 Nov 2011 23:15:16 +0000

The whales are here—at least that’s what my friends at the Pacific Whale Foundation tell me, although I’ve yet to see my first “poof.” In the next few weeks, these spectacular creatures will be leaping all over the place, putting on a show for the Kihei shoreline.

This 2-bedroom, 2-bathroom condominium (MLS# 350215) at the beautifully maintained Maui Vista—directly across the street from Kamaole I and Charlie Young beaches—features a clear view plane of Maui’s ultimate stage. It’s one of the few South Kihei condos with a dramatic ocean view listed at under $500,000. For a better look, see the YouTube video below.

Maui Vista

There have been a spate of new listings at the Maui Vista lately, including a 2-bedroom short sale (MLS# 350245) listed at $299,000. It’s located in the building closest to Kihei Road.

Maui Vista is a popular vacation rental property, known for exceptional value and its excellent location near two of Kihei’s “postcard beaches.” It features three pools, tennis courts, and gas grills.

Kevin Spaise is the publisher of The Maui Condo Book, the reference guide used by Maui’s Brokers, Realtors, and title/escrow companies. He is a condo specialist for Hawaii Life, and can advise and represent you in your condo purchase or listing. He uploads weekly videos on YouTube.