A third REO (bank-owned property) at the upscale Kolea community hit the market today at only $499,900 for a beautiful unit that sold for $890,000 in 2006.
Just as with foreclosures on the Mainland, we real estate agents often find a property trashed before the original owners depart. Not in this case! All the stainless steel appliances are in place, including the outdoor kitchen shown in the photo.
Kolea is the only property in the Waikoloa Beach Resort with a private walking path to the beach at Anaeho'omalu Bay. Now it is possible to get a condo here at a price that previously bought you a unit in an older project with no pocket doors, Viking appliances, or walk to the beach!
Best yet: if you aren't a cash buyer, you should be aware that lenders require 30% down on resort condos. However, this listing for this property says it might qualify for the HomePath program, which would mean as little as 3% down!
For more info on this or other Kolea properties, please feel free to contact me directly: 808.443.4588 or beth@hawaiilife.com . I worked for the developer of Kolea and there are few questions I haven't heard!
A hui hou,
Beth Thoma Robinson R(S)
Update as of July 27th. This one is still available...but another of the units hit 90 days on market and had a $50,000 price reduction to $460,000. A full-price offer was in within 24 hours. Who is ready to offer on the rest now that we know where to bid???
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