Ko Olina Beach Villa Final Sale event rescheduled to July 25th

Real Estate Broker/Owner with Beach Villa Realty,LLC


The final sale event, originally scheduled for June 6th and 7th has been rescheduled until the weekend of July 25th according to Bruce Sloan, Division President, Centex Destination Properties - Hawaii.

The purpose of the rescheduling was explained in a letter from Mr. Sloan sent to the current reservation holders. The following is a portion of that letter:

"With the prospect of the completion of sales by Centex Destination Properties at the Sales Event, some of our existing owners have expressed concern about the future use and operation of the amenities and grounds at the Beach Villas.  We are currently contemplating modifications to the operational framework of the property to remove some perceived uncertainty that is concerning to certain existing owners while at the same time maintaining the existing uses and quality that make the property so appealing. The delay in the timing of the Sales Event should allow us an opportunity to make the contemplated changes as well as provide you the necessary time to modify your plans to attend."

With the exception of travel plans that had already been made, I see many more positives than negatives associated with the postponement. For those folks who were just finding out about the sale, it gives them more time to evaluate and decide. For those who had already decided to participate, there are some details that can be cleaned up and when they are, the Beach Villas will be a better product than they already are.

If this is your first exposure to the Villas, I have written several articles on them and if you have been searching for a unique luxury property in Hawaii with beach front access and discount pricing, I recommend you follow the links below to learn about the Villas, the sale event and the opportunity that is being presented with them.

If you would like to contact me for more information, Click here to contact Michael

The Beach Villas at Ko Olina - Overview

The Beach Villas at Ko Olina - Final Sale Event

The Beach Villas at Ko Olina - Final Sale Event - Update

I look forward to hearing from you!

Gregory Storm - Los Angeles, CA
Real Estate Photographer

I don't know.  Postponing the event sounds like they didn't have enough registered buyers or legitimate interest.  What were the concerns the existing owners expressed?  And why would that stop the event?  If existing owners truly did express concern what would stop the development from still going through with the original sale date while still addressing the concerns.  Their reasoning sounds a little bogus.

As it is, those condos were way overpriced to begin with.  Especially when you factor in the $1,300 - $1,700 dollar a month HOA fees.

Another reason I don't buy the postponement logic is, with this volitile market, a lot can happen in a month -- and not in a good way.  Mortgage rates are already a full point higher than they were last month.  Median prices are still going down every month.  So them pushing the date back means the property is loosing value and rates will be higher.

The housing market is not stabilizing yet.  With all the shadow inventory that lenders are still yet to release, the housing market won't turn around until late 2010 -- if then.  I applaud their "let's create a false frenzy" marketing ploy, but if I attend and the prices aren't attractive enough, I'll just go hang out on the beach.



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Jun 17, 2009 04:09 AM