Villages at Mauna Lani - New Foreclosure (REO) listings

By
Real Estate Agent with Hawaii Life Real Estate Brokers Big Island

The Villages at Mauna Lani has two new foreclosure (REO) listings on the market in the past few days.

Inventory had dwindled down to nothing in the the Lehua and Maile 3-bedroom floorplans at the Villages at Mauna Lani, with Villages 313 (the larger Maile) closing last week for $895,000 and Villages 609 (the smaller Lehua) closing two weeks earlier for $750,000.  

Suddenly seeing nothing for sale drew out five new Villages at Mauna Lani istings in the past 15 days, of which two are bank-owned properties (REO).  Three of these, including one listed as a short sale, are not particularly compelling in their pricing:

 

  • a Lehua for $895,000
  • a Maile SHORT SALE for $1,100,000
  • a detached Alii for $1,695,000.
The two REOs for sale are another story.

Today's new Villages at Mauna Lani foreclosure listing is a 2,752 sq ft Maile offered for $799,000 (that would be $100K below the recent comp).  Unusually, this unit is still tenant occupied, rare at the Villages.

Villages at Mauna Lani REO for sale

Villages at Mauna Lani 612 is not your average foreclosure for sale at $799,000 (MLS 246323)

The other REO at the Villages, #730, is a freestanding home with a pool, offered for $1,400,000.  This one does not look like a "best buy" to me at that price.  Why? Because Villages at Mauna Lani 734-the same Kahili floorplan-- sold with Peggy Chestnut furnishings in April for $1,450,000!

But perhaps the banks were timing their listings, for a moment when the lack of inventory coupled with continued strong demand for the quality of the Villages at Mauna Lani, would allow them to recoup a bit more of their losses on these foreclosure properties.

A hui hou,
Beth

 

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villages at mauna lani
mauna lani condo for sale
mauna lani foreclosures
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Rainmaker
516,905
Erika Rogers
Re/Max First Realty - Saint George, UT
St George Utah Real Estate & local info.

Hi Beth, Villages at Mauna Lani looks like a great community. I bet that foreclosure priced at $799k won't last long!

Jun 21, 2011 07:49 PM #1
Rainmaker
105,305
Beth Thoma Robinson
Hawaii Life Real Estate Brokers Big Island - Hawi, HI
R(B) SFR - Hawaii Island Luxury Resort Real Estate

@ Erika, bet you're right!

Jun 21, 2011 09:42 PM #2
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Rainmaker
105,305

Beth Thoma Robinson

R(B) SFR - Hawaii Island Luxury Resort Real Estate
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