Owners/guests have the use ofÂ 2 pools, hot tubs, and 1 tennis court
Located on the Big Island of Hawaii, the Waikoloa Colony Villas is an upscale gated community in the world-famous Waikoloa Resort. Set farther back within Waikoloa Beach Resort away from busy attractions, the Colony Villas is among the most tranquil of the Big Island retreats. This private, gated property consists of 2 and 3 bedroom town homes (168 in total) situated along the 15th fairway of the Waikoloa Beach Golf Course.
Waikoloa Colony Villas recently became the hot spot for buyers looking for attractive prices on the much desired Kohala Coast. Prices have dropped sometimes up to 60% since 2005. There only are 3 listings left for sale while there were 18 to choose from just a couple months ago. Five 2 bedroom town homes have sold in December 2010 (from $237,900 to $352,000).
Since January 2011, we count 3 more closings and 12 units are in escrow (from asking price of $239,900 to $419,000). Inventory is shrinking and prices will go up again soon. Buyers get emotionally charged up and rush into a real estate hunt in order to not miss the hot market.
What can you do to face a â€œvolcanicâ€ market?
- Know your target neighborhoodsâ€”See the interiors of as many listings as you can. Market knowledge is power and understanding recent comps is a big advantage.
- Listen to your emotions and give it a shotâ€”Make offers on units that you fall in love with, but always at a comfortable price. Donâ€™t put everything on the table, in case you need to compete with buyers as savvy as you are.
- Be comfortable with short sales and REOsâ€”You will need patience, lots of it, and plan on spending extra money for repairs, missing appliances, sellerâ€™s closing costs, unpaid HOA dues, etc. Get educated and donâ€™t be surprised at the end.
- Join an unfair game and know youâ€™re going to lose someâ€”You all want the best villas at the best price! Some competing buyers will out-bid you on occasion. Shake it off, and get back on the horse.
- Tie the property upâ€”Better get it now before itâ€™s gone. You donâ€™t need a home inspection or appraisals to make an offer, you have a contingency period to find out what you are buying.
- Winning the bidding warâ€”You need to have a plan! You have to know how far youâ€™re willing to go, and should rely on your agent for support.
The agentâ€™s role is critical. Waikoloa Colony Villas is my market share. Do not hesitate to contact me. Iâ€™m here to provide an accurate interpretation of the value based on the comps and market conditions.
Time to finish up that offer and notch another satisfied buyer at Waikoloa Colony Villas!