Centex, the developer of the Beach Villas at Ko Olina has suspended sales of their remaining 125 +/- units in preparation of having a Final Sale event on June 6th and June 7th, 2009. I received this email from their Sales Executive yesterday:
Huge news!!
The beautiful Beach Villas at Ko Olina will be priced to sell out in June at a one time sales event! The goal is to sell every single remaining Villa during our sales event, so prices are going to be substantially discounted in order to make that happen. The sales event will be held on June 6 and 7th at the JW Marriott Ihilani Resort and Spa. This is a huge opportunity! Please call me as soon as possible for specific details on discounts, incentives, and how you can secure yourself a place on our reservation list.
We are now accepting "Priority Reservations", so timing is of the essence to secure your place in this amazing event! I will look forward to hearing from you soon.
The program, as it was explained to me, is that there will be a "priority based" event with time stamped eligibility based upon the date that a valid reservation agreement was received by them. Here are the details:
Per discussion- here is a basic info on the event! Reservation agreement plus $50K deposit-fully refundable. Fully furnished, 1 yr HOA.
Since this program just started, as we speak today there are fewer than 5 completed reservations. Their target is to have an excess of 250 by the date of the event. The developer will then price the units at discounts estimated to be 20 to 35% of the last advertised prices and sell them all based on prices presented on the day of the event. Current owners will also have an additional priority on reservations they place until the end of February. After that they will also fall into the sequential priority of date received reservations.
On the days of the event, as each purchaser is presented the units and prices that are available, they will decide if they are interested in choosing from the remaining pool of available units. At that point they will make their selection or pass with a full refund of their deposit. If they do choose a unit, the next person will be presented the pool of remaining units minus that unit, etc. until they pass through all of the units or until they pass through all of the reservations, whichever comes first.
If one takes Centex at their word, the pricing of the units will be intended to be sufficiently aggressive to have the units all selected by the end of the event. Currently the prices at The Beach Villas at Ko Olina are ranging from $899,000 to $2,850,000. The challenge for interested parties is that in order to protect their opportunity to purchase one of these units at these reduced prices in June, it requires one to be proactive now and participate in the reservation program.
This is a unique opportunity to register now and secure the widest selection of units available through your placement very near to top of the list because of the infancy of the program. The $50,000 reservation fee will be placed in escrow with a Title Company and will be in a non bearing interest account, so the only real cost to this program will be 4 months of dead money in exchange of having the opportunity to purchase these exceptional units at potentially huge discounts.
If you'd like to get more information about the sales event, the property itself or any other information, give me a call at (808) 225-3660 or CLICK HERE to send me an email and we can discuss the matter further. If you are curious about the Beach Villas at Ko Olina in general, you can view a good presentation of them HERE complete with links to floor plans, amenities, etc.
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