There is no question that the best deals in today’s buyers market are usually short sales, or REO/bank owned/foreclosures; these properties are commonly referred to as “distressed” properties.
Kaanapali in West Maui, one of Maui’s most sought after and beautiful locations, does not have a lot of these types of properties, but as of lately, the majority of sales in the residential market in Kaanapali have been distressed sales.
Thus far in 2011, one-third of the 15 residential homes that have sold in Kaanapali fall into this category. Four of the five, or 80% of the pending sales fall into this category. What’s my take on this? Take advantage of these fantastic deals while they last. There is an extremely high demand for these properties and a very limited supply.
Here are two new Kaanapali best buys I’d like to highlight:
1. 144 Halelo Street (MLS# 347802) listed at $781,000,Â is a 5 bed/2.5 bath home. This is a short sale in Kaanapali Vista (one of the longest standing communities in all of West Maui), and is perfect for homeowners occupant or investors alike.
This home last sold in 2006 for almost $1,300,000 and the current owners put about another $150,000 into remodeling the home.
I really like the architecture and floor plan of thisâ€”it’s a timeless beauty. This home sits right on the golf course and has two large outdoor covered living areas for enjoying the fantastic Kaanapali weather.
The kitchen has new granite, travertine flooring, stainless appliances, and new plantation-style cabinetry. The home also has an attached ohana or guest quarters that could be easily rented, or perfect for transient visitors.
2. 51 Hakui Loop (MLS# 347963) is a 4 bed/2.5 bath home in Kaanapali Hillside and is a new bank owned/REO/foreclosed listing.
The home has fantastic ocean views from the upstairs and is enhanced by a reverse floor plan, meaning that the kitchen and main living area are on the second story of the home; this is very common in Kaanapali view homes.Â This home epitomizes the open-style floor plan which allows seamlessly integrated interior and outdoor living, which is perfect to live the Kaanapali life.
Like Kaanapali, but are looking for something a little more upscale? May I recommend Kaanaplai Golf Estates, the premiere residential community in all of Kaanapali. Here is the link to my Kaanapali Golf Estates blog, and all Kaanapali Golf Estates homes for sale.
Regardless if you are looking in Kaanapali or Wailea, here are the best deals in the market. Your time is now, contact meâ€”pick up the phone, or write me an email, and I will help you make it happen.