Prospective buyers who missed out on the beachfront Kolea luxury home and penthouse condo auction in March are in luck as BIG price reductions have created two new best buys in the past two days:
- a bank-owned single family home was reduced from $4,900,000 to $3,995,000 (making two Kolea homes listed under $4 million!)
- a front-row Kolea condo had been withdrawn from the market at $1,995,000 and returns reduced to $1,375,000 as a short sale
Starting with the condo Kolea 10E (MLS# 241405), this is a 2nd floor villa of the largest, 2,147 sq. ft. floor plan and is directly across from the Kolea Beach Club with its infinity pool and private path to the beach.
This luxury condo is now listed at the same price the facing unit sold for as a short sale in February 2010. Another point of reference, the villa directly above was the foreclosure that inspired a bidding war in March. It just closed at $1,569,000.
The Kolea home on Lot 13 (MLS# 241676) is one of two bank-owned (REO) single family residences with private pools fronting the ocean. The lot it sits on was purchased for $3,295,000. The home is 4,784 sq. ft. with a separate guest wing separated from the main house by a pool.
At an asking price of $3,950,000, it is highly likely that one of the previously rejected offers will suddenly be resurrected and walk off with the prize!