So the latest pricing information for the June Beach Villa's at Ko Olina blow it out, price reduction, sell all units at great discounts, sales event is that Centex Destination Properties, the developer is probably going to offer a 35% discount and not a 25% discount. This is great news for potential home buyers and investors.

Just to recap, the starting entry price when the Beach Villas first went on sale in 2004/2005 was $1,800,000.00. Now the starting price is going to be in the $600,000.00 price range at 35% off of the already discounted prices. Seems to work out to more like a 67% discount.

The nicest and most expensive unit will now be around $1,800,000.00 for direct beach front. The other ten units at the front have already sold for around $3,000,000.00. You look out and see beach sand, beach, ocean, etc. This is a beach front property but only these units are directly on the beach. Can't get any closer. There are four remaining here.

The least expensive units will have more of a sideways view of the water, instead of being right on the beach. The nice thing here is that all units have an ocean view. The least expensive units will loose some of their view when additional properties are construction on either side of our property in the future. So check it out thoroughly so you won't be disappointed later. To be fair, prices are future priced based on the possible future view, not on what the view is now.

I have been told that since the discount is going to be larger, that existing homeowners who are first in line are thinking about purchasing more expensive condos. Even though it's late in the game, I think this will translate into giving people who send in their deposits now a possible chance at one of the less expensive units. Before this, it was thought that only the more expensive $1,200,000.00 - $1,400,000.00 villas would be left.

We had one buyer last week who walked 105 Villas to come up with his list of preferences. Others look at the three or four they would like to have and stop at that. If your serious about this place, you really need to walk the property to get a sense of understanding the view / price relationship to find your "sweet spot".

It's kind of a cliche these days when people say "Once in a lifetime opportunity". We'll, with the way the economy is acting, the fact that this place completed construction at what seems to be the bottom of the real estate boom. It could very well be that this is a once in "our" lifetime opportunity. If you are inclined to think so, just give me a call to schedule a time to walk the property.

Mahalo,

Alfred--

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Alfred Harding is a licensed Hawaii real estate professional providing clients with insight and knowledge as it relates to the Beach Villas at Ko Olina on Oahu, Hawaii. He is also a homeowner at the project and operates an active rental program.

You can also find him blogging about the resort at: Beach Villa Resort Blog and on Facebook. Vacation Villa Reservations available at: Beach Villa Resort Reservations.

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If you are thinking about purchasing at the Final Sales Event at the Beach Villas, please allow me to represent you as your buyers agent on selection day. There is no cost to you and your purchase price is exactly the same. However, the villa you select and how much you pay for it will make a big difference in your profitability; both from an appreciation standpoint and if renting, covering expenses by "getting heads in beds".

(All of the thoughts expressed in this blog are my own personal opinion, they are no guarantee that you will achieve similar results, it's just me sharing my own experiences and what has happened in my own situation. I cannot know what will happen in the future.)