Who would have though that Safeway approach to sell will apply to real estate as well?

The developer for a new subdivision in Kihei, called Kilohana Waena, is offering 50% discount on the list price of one garden view lot, with the simultaneuos purchase of one ocean view lot, at the listed price. Different buyers can coordinate to get the discounted lot, also. The deadline to take advantage of this offer is May 12th 2009.

There are currently 17 lots for sale, out of which 8 of them have ocean views. Lots very in size between 7,511 sf to 11,698 sf and they vary in price between $499,900 to $729,900.

For more information on some of these lots, please click here.  

Given the new guidelines for appraisals, as of May 1st 2009 , I can not stop thinking that there may be some appraisal issues for these lots, down the line, if a garden view lot sells for half the price. After all, the difference in full listing prices between an ocean view lot and and a garden view lot varies between $70,000 to $100,000, depending on the size of the lot, while the " discount " offered would be in the neighborhood of $250,000.

To search for all land listings on Maui, please check www.westmauihome.com