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Another Kona Luxury Foreclosure with Style

There are now two great options on the Bluff at Puu Lani Ranch. Just two of the seven homes along the Bluff are currently on the market. Just a few lots away from each other, both of these luxury homes have expansive and unobstructed views of the Kohala Coast, Hualalai, and Pu’uwa’a.

Both homes were built by one of the Big Island’s premier builders, Maryl Construction, back in the early 90’s, both homes are approximately 3,200 square feet, and sit on little over an acre. One is priced at $599,900 and the other $1,049,000. So, what’s up with that? Well, one is a home lived in and cared for by the sellers. The other is a vacant bank owned REO/foreclosure that has seen better days.

71-1626 Pu’u Napo’o Drive (MLS# 236336) priced at $1,049,900 is a stunning home. This resort-style home is in top condition and has been stylishly updated. The landscaping, the pool, the interiors, everything has been meticulously maintained and cared for by the current owners. All of the homes along the Bluff have gorgeous views, but this home is particularly well sited and the views are dramatic. The buyer for this home is looking for a great home that they can move into day one.

71-1666 Pu’u Napo’o Drive (MLS# 243967) priced at $599,900 could be a stunning home. It is also a resort-style home, but it desperately needs some attention and updating. It has clearly sat empty for a while. That said, the $450K or so difference in price would buy you a lot of upgrades and repairs.

Foreclosure are often a bit sad. The landscaping is overgrown. There are lovely lava rock walls I am sure under all the vines, and on a recent visit, I searched in vain for the pool equipment housing area. The pool is semi-drained and has an unattractive protective cover of chicken wire. Yet, the patio area around it seems in good condition, and the views of the Kohala Gold Coast and Hualalai are spectacular.

The homes interior and exterior are actually in much better shape than the grounds. Carpets need to be replaced and floors refinished. Kitchens and bathrooms are original and need updating, but the room sizes and floor plans are wonderful, and like the home above, there are views from almost every room.

As the power and water were off at the time of my visit, I have no idea about the mechanical condition of the home, and this is definitely a home you would want to have a professional home inspector take a look at. If the mechanics are okay, then the cosmetic issues seem very solvable. With a little elbow grease and some checks written this home could be lovely again, and the views, well, the views need no improvements.

As the market heats up here, I expect the REO/foreclosure to go quickly. Now might be a good time to make an offer on the more expensive done home as well. The sellers and their agent I am sure are well aware of the low price option just down the street and might be willing to make a deal. I am game to help some lucky buyer try.

Click here for a gallery of luxury REO/foreclosures and short sales on the Kona Coast.

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Beth Thoma Robinson R(B)

April 16, 2011

You know how I adore the updated one, which as I recall you and I first previewed together. Of course Puu Lani Ranch is the only community on the Big Island which has an actual community barn for equestrians to keep their horses, which makes it an ideal choice for someone who wants to be close to the action in Kona, but have horses without the maintenance of a large acreage.

Beth Thoma Robinson R(B)

April 16, 2011

You know how I adore the updated one, which as I recall you and I first previewed together. Of course Puu Lani Ranch is the only community on the Big Island which has an actual community barn for equestrians to keep their horses, which makes it an ideal choice for someone who wants to be close to the action in Kona, but have horses without the maintenance of a large acreage.

Erik Hinshaw

April 18, 2011

@Beth. It is lovely home. You are obviously the go to agent for horse people.

News Flash The bank just dropped the price on the REO to an incredible $585K! Unbelievable.

Erik Hinshaw

April 18, 2011

@Beth. It is lovely home. You are obviously the go to agent for horse people.

News Flash The bank just dropped the price on the REO to an incredible $585K! Unbelievable.

Pam Deery R(B) Big Island

April 21, 2011

Erik; I just showed both of these homes in the past month to buyers who ultimately chose another community however. But…the Maryl house at $1,000,000 + was their #2 choice and I think could be bought at a “fair price” given the competition and time on market. I have no doubt you would do well at negotiations for some lucky buyer on either of these properties!

Pam Deery R(B) Big Island

April 21, 2011

Erik; I just showed both of these homes in the past month to buyers who ultimately chose another community however. But…the Maryl house at $1,000,000 + was their #2 choice and I think could be bought at a “fair price” given the competition and time on market. I have no doubt you would do well at negotiations for some lucky buyer on either of these properties!

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