Last Tuesday (Feb 15) I heard from a buyer client who'd made unsuccessful offers on several Kohala Coast condos during their visit last year. He's coming back next month and still looking for a screaming deal. "If you were to pick the 3 best at Mauna Lani what would they be?" he asked.
I named these three:
- An REO (bank-owned post foreclosure) at Fairways at Mauna Lani for $469,900--priced exactly where others of the same floorplan have recently sold.
- A pre-auction property for sale at the Islands at Mauna Lani, $507,115 list price.
- The lowest priced 2BR unit at Mauna Lani Point, which has no ocean view but is a stunning Peggy Chestnut remodel for$839,000.
That was on Tuesday. On Thursday, the Fairways at Mauna Lani was in escrow (18 Days on Market). On Friday, the Islands at Mauna Lani was in escrow. Before I even had a chance to write this blog post, two out of my three picks were gone!
The Mauna Lani Point condo (MLS 218706) is still available, and that is partly because the $500,000 price point is hot, whereas fewer buyers can afford the $800,000 choice. I also think this one has lingered because the photos in the MLS do not do it justice, and don't even show its lovely golf/mountain views.
So where do we go from here?
View from current best buy at appropriately named Fairways at Mauna Lani (MLS 240814)
Of the eight condos for sale at Fairways at Mauna Lani, the next to go is very likely to be my business partner Pam Deery's listing. The same (larger 2 bedroom) floorplan as the REO, golf course location, beautifully furnished, and priced to sell at $529,900.
Otherwise, the savvy buyer might walk across the street to the same developer's newer project Kulalani. The only remaining developer unit of this floorplan is listed at $585,000, but you should easily be able to negotiate to a price competitive with the Fairways REO. This condo is very close to the oversized amenity area Kulalani shares with Ka Milo, which would make it perfect for the rental market! There is one resale unit that came on the market at Kulalani last week at a list price of $619,000.
A hui hou
Beth
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