As recently as 3 months ago, bargain seekers had only to scan Princeville condo listings to find a great deal.
One of the few Princeville condo deals on the market today, a Puamana REO (MLS# 234354)
Some listing prices there, impacted early in the game by short sales and REO’s, had fallen to less than 50% of their sales prices at the height of the market. Some excellent deals were had by savvy Buyers.
So where are the deals now?Â Good questionâ€”I had the opportunity to show Princeville condos yesterday and could only find two listings that fit my description of a “deal”.
Two possible explanations:
- The most motivated Sellers have now sold, leaving the market to find a new equilibrium.
- A number of those excellent deals are still in escrow (or tied-up in short sale limbo).
Only time will tell.Â Myself, I’m leaning towards the second eventuality. And if this is the case, the condos in escrow should begin closing in the coming month or two, which means appraised values may start to dip significantly, and hopefully we will be in for another round of deals
Now about those deals that I DID find…
One is a 2 bedroom Puamana REO listing (MLS# 234354) right on the golf course, listed for $300K.Â I’m pretty sure it’s the lowest priced golf course condo by a mile.
Mauna Kea Balinese dream
The other is Anthea Adair’s Mauna Kea listing, (MLS # 234415) – incredibly upgraded for $395K. Don’t miss out on that one.
For questions about these or any other Princeville condos, contact me.