I recently posted a blog onÂ four amazing foreclosures in the Wailea area. Just when I thought they were good deals, one got even better. Wailea Ekahi III Unit # 52D (MLS# 344324 ) was originally listed at $409,900 and was just reduced to $389,900. This unit last sold in 2007 for $660,000.
This property is a 1 bed / 1 bathâ€”all in 792 square feet. The next most comparable in the building is unit # 52B, a studio with 484 square feet, listed for $399,000.
If you don’t know anything about the complex: Wailea Ekahi III allows short term rentals, has multiple pools and tennis courts, and is an easy walk to The Shops at Wailea and all the resorts and restaurants that could ever need. It is also walking distance to some of the most awesome, white sandy beaches in the world.
The unit is owned by Fannie Mae and they are offering Home Path mortgage incentives if you finance the property through them. This may include a smaller than normal down payment.
If you have some extra cash around under-performing, maybe you would like to consider having that money work for you. Contact me if you’d like to discuss this opportunity further. Aloha.