March 15, 2011
I am putting the date at the top of this post, because a Kolea penthouse showing up as an REO (bank-owned property for sale after foreclosure) for only $1,390,000 is the kind of blog post that will attract continued attention!
This is the view from Kolea 10F of the beach at Waikoloa Beach Resort (MLS 243619)
I am putting the date at the top of this post, because a Kolea penthouse showing up as an REO (bank-owned property for sale after foreclosure) for only $1,390,000 is the kind of blog post that will attract continued attention!
History of Kolea 10F, which is located in the building right across from the Beach Club, meaning right across from the path to the beach at Anaeho'omalu Bay:
The developer sold this to the original owner in 2005 for $2,950,000.
When it was finally listed as a short sale, I had a buyer in back up position. At that point, the lender wanted almost $1.7 million including delinquent dues.
Even if there are multiple offers on this REO, someone will save $300,000 relative to what we thought was a great short sale price.
And the implications of this for next Monday's auction of Kolea 2C? Hmmmm
A hui hou
Beth
Comments(0)