The Villages at Mauna Lani has two new foreclosure (REO) listings on the market in the past few days.

Inventory had dwindled down to nothing in the the Lehua and Maile 3-bedroom floorplans at the Villages at Mauna Lani, with Villages 313 (the larger Maile) closing last week for $895,000 and Villages 609 (the smaller Lehua) closing two weeks earlier for $750,000.  

Suddenly seeing nothing for sale drew out five new Villages at Mauna Lani istings in the past 15 days, of which two are bank-owned properties (REO).  Three of these, including one listed as a short sale, are not particularly compelling in their pricing:

 

  • a Lehua for $895,000
  • a Maile SHORT SALE for $1,100,000
  • a detached Alii for $1,695,000.
The two REOs for sale are another story.

Today's new Villages at Mauna Lani foreclosure listing is a 2,752 sq ft Maile offered for $799,000 (that would be $100K below the recent comp).  Unusually, this unit is still tenant occupied, rare at the Villages.

Villages at Mauna Lani REO for sale

Villages at Mauna Lani 612 is not your average foreclosure for sale at $799,000 (MLS 246323)

The other REO at the Villages, #730, is a freestanding home with a pool, offered for $1,400,000.  This one does not look like a "best buy" to me at that price.  Why? Because Villages at Mauna Lani 734-the same Kahili floorplan-- sold with Peggy Chestnut furnishings in April for $1,450,000!

But perhaps the banks were timing their listings, for a moment when the lack of inventory coupled with continued strong demand for the quality of the Villages at Mauna Lani, would allow them to recoup a bit more of their losses on these foreclosure properties.

A hui hou,
Beth

 

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Beth Thoma Robinson R(B) SFR

hawaiilife.com l beth@hawaiilife.com

808.443.4588 direct l 800.887.1524 fax l 800.667.5028 office

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2 Comments on Villages at Mauna Lani - New Foreclosure (REO) listings

JUN
21
2011
425,246 Points 4 Featured Posts Outside Blog Hit Router Called Shot Master

Hi Beth, Villages at Mauna Lani looks like a great community. I bet that foreclosure priced at $799k won't last long!
7:49pm • #1
103,737 Points Localism Sponsor

@ Erika, bet you're right!
9:42pm • #2


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Beth Thoma Robinson R(B) SFR - Hawaii Island Luxury Resort Real Estate

Beth Thoma Robinson R(B)

Hawi, HI

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Hawaii Life Real Estate Brokers Big Island

Address: Hawi, Kapaau, North Kohala, Kohala Ranch, Mauna Lani, Mauna Kea, Waikoloa Beach, Hualalai, Kukio Resorts, Kamuela, HI, 96743

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Why Hawaii? Why the Big Island? Why turn left from the Kona airport and head north to Kohala? And which community fits your lifestyle or investment strategy? Luxury residence, retirement home, resort second home, oceanview building site or agricultural property, we've got them all! Hawi Realtor Beth Thoma Robinson blogs to help you sort through your choices.

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