Yesterday the developer sales team at Halii Kai announced that the sale was final on one of their remaining ocean view units in this year's most popular "Ho'oulu" larger 2BR/2BA sales plan (Halii Kai 6A for $605,000). The real news here is that despite their previous assertion that after the big reduction the prices on ocean view condos were not negotiable, the asking price on this unit was $625,000. The developer ocean view I would target to sell next is the groundfloor 3/2 7E listed at $770,000.
They also put one of the smaller 2/2 floorplan in the garden view Coconut Grove area into escrow, asking price $405,000. This means the developer is almost out of their inventory at the $400,000 price point, with two of these little guys in escrow.
UPDATE: no sooner did I write this than 21C closed escrow for $395,000, another Halii Kai sale for the Hawaii Life team!
Interestingly enough, the six other properties showing as "contingent" in the MLS are all short sales, five of them listed by the Hawaii Life team. I feel pretty confident about our ability to close at least four of them.
That leaves only 10 resales on the market. The new short sale opportunity, Halii Kai 16E, is listed at $565,000 based upon the appraisals we've seen on other short sale listings in the same building (by the way, the recent sales comps at Halii Kai resulted in one of our listings being appraised higher last week than 2 months ago!). That is the lowest priced non-developer currently for sale!
Halii Kai 16E is a 3BR/2BA condo with ocean view and an easy walk ot Ocean Club amenities for $565,000
A hui hou,
Beth
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