I am sure you all have heard the proverbial real estate lingo referring to “location, location, location.” Here’s a case study in point. Last month, we sold a home in Kahala. It was a rarely available Kuhina at Kahala listing built by DR Horton in 2007.
We were able to get the Sellers multiple offers and sold it more than $30,000 above asking for $1,380,888. While we had it under contract, I saw another listing pop up in Hawaii Kai. It was basically the same home, however, the Hawaii Kai one is listed for $300,000 less!
Kuhina at Kahala home SOLD by Hawaii Life Real Estate Brokers for $1,380,888
DR Horton home in Hawaii Kai (MLS# 201326715) listed for $1,025,000
Here are some more photos for comparison, side by side:
Living room in both homes
Master Bath in both homes
Master Beds in both homes
Front of both homes
Why the $300K Price Difference?
Some could make the argument that we got better professional photos and our listing showed much better. Although I’d tend to agree, the lot of the home in Hawaii Kai is 75% larger than the one in Kahala. In summary, location, location, location (and marketing) should always get you a higher price.