As summer 2011 arrived, homes in Maliu Ridge, the upscale community above Hawi, North Kohala, began to find buyers.
In May I reported that the Maliu Ridge home under contract was the first to sell since January. Since in a typical year, two homes in this area, that did not bode well for the other five homes for sale. But suddenly it seems that buyers have recognized the Maliu Ridge price war brought these Maliu Ridge homes with their big ocean views and peaceful rural Hawi location into "best buy" range!
- A 2,430 sq ft home on over an acre at the bottom of a cul-de-sac sold for only $612,000. The home built in 2000 needed some cosmetic renovation for most current tastes, but has amazing views.
- An REO (foreclosure) of 2,281 sq ft on almost 3 acres is under contract, asking price $691,200.
- A 2,484 sq ft home on 1.69 acres is the newest to find a buyer. This is the home that started the price war by taking the first move under $800,000. It is now at $649,000...and we are waiting to see the final sales price.