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Sales at Ocean Villas at Turtle Bay Resort Are on Fire!

There have been seven sales in the past 6 months. Currently, there is only one active listing priced at $1,295,000 – a 3 bed/2 bath suite with a 1,411 sq. ft. interior with a 135 sq. ft. lanai. The average sales price on these 3 bed/2 bath units for this period is $1,100,000.

Of the seven closed sales, one was a short sale and one was a lender sale. The rest were all normal sales, though they sold for much lower prices than the original prices paid at the peak of the market 2005-2007.

The 3 bed/2 bath pictured above originally sold in 2005 for $1,660,000 and is now a short sale currently in escrow listed at $995,000.

Owners can self-manage, or let the on-site management company take care of the vacation rentals with 3 bedroom suites averaging $1,000 per night.

The development consists of 52 units:

  • Ten 4 bedroom/3 bathroom
  • Thirty-four 3 bedroom/2 bathroom
  • Three 1 bedroom/1 bathroom
  • 5 studios

The one bedrooms and studio suites are the same size – 673 sq. ft. with a 134 sq. ft. lanai. Studio suite #202 sold in 2007 for $1.1 million and recently resold in September 2011 for $418,500.

Looks like a great opportunity to own some of the best oceanfront property on the planet for bargain prices if you keep your eye on the ball.

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Benjy

January 31, 2012

Great information Thanks Dave!!!

Benjy

January 31, 2012

Great information Thanks Dave!!!

Justin - Customer Experience

February 1, 2012

Very informative. Looks like inventory is a problem with only 1 unit left.

Justin - Customer Experience

February 1, 2012

Very informative. Looks like inventory is a problem with only 1 unit left.

Max Jolley

February 6, 2012

Thanks for the update David. Yes, looks like the market is turning if not bottoming. We are seeing that at the Kuilima Estates as well.

Another choice for management beside self management or the hotel is an outside management company. Our company – Turtle Bay Vacation Rentals – has average about twice the nights booked and we charge a significant lower commission.

Mahalo

Max Jolley

February 6, 2012

Thanks for the update David. Yes, looks like the market is turning if not bottoming. We are seeing that at the Kuilima Estates as well.

Another choice for management beside self management or the hotel is an outside management company. Our company – Turtle Bay Vacation Rentals – has average about twice the nights booked and we charge a significant lower commission.

Mahalo

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