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Buyers of Waiki’i Ranch Real Estate Wait Until the Price is Right

May was an active month for Waiki’i Ranch with one home and one lot going into escrow. Both pending sales show there are buyers out there, but that they are still looking for a good deal, and that the price has got to be right.

While two escrows wouldn’t be a big month for some communities, you have to remember that in past 12 months there have only been 2 lot sales and 3 homes sales at Waiki’i Ranch.

This one of a kind home (MLS# 232263) is now in escrow

The home now in escrow is an incredible handcrafted work of art that is co-listed by Jan Nores and Hawaii Life Real Estate Services. If you didn’t see this home, click on the above photo to see more pictures of what the owner is able to do with wood. Truly beautiful. This home went fairly quickly after a recent price change brought it down to $1,499,000. It was on the market for 96 days, which for this price range in Waiki’i Ranch is relatively short.

The lot that went into escrow, # 15, was a 20-acre lot listed at $375,000. This lot had been listed at $495,000 but had a price drop in February. The days on market were fairly short at only 159.

The price reductions prior to escrow on both properties show that buyers are indeed out there, but that they will wait for the right price before purchasing.

Currently, there are 5 homes and 12 lots listed for sale in the Waki’i Ranch area.

Contact me for more information about the numerous home and lots for sale in Waiki’i Ranch.

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Katie Minkus, R(B)

May 27, 2010

What’s really fascinating about this house going into escrow is now there are two additional buyers that have seen the house and are sick that they missed the opportunity to buy. I find myself explaining to potential buyers all the time that there is a strange phenomenon here on the BI, where a property can sit for months and sometimes years with no action, and then all of a sudden there is a flurry and you might even receive multiple offers in one day! It seems strange, and yet, of course makes perfect sense. At the end of the day, there are not a lot of homes in Hawaii that are “similar.” It’s not easy to simply walk next door and buy “another one.” As I advise my buyers all the time, if you find a house you fall in love with, buy it now regardless of the market conditions because more often than not, if you hesitate, the opportunity will be gone. Some other lucky buyer will have scooped it out from underneath you and be enjoying “your” piece of paradise.

Katie Minkus, R(B)

May 27, 2010

What’s really fascinating about this house going into escrow is now there are two additional buyers that have seen the house and are sick that they missed the opportunity to buy. I find myself explaining to potential buyers all the time that there is a strange phenomenon here on the BI, where a property can sit for months and sometimes years with no action, and then all of a sudden there is a flurry and you might even receive multiple offers in one day! It seems strange, and yet, of course makes perfect sense. At the end of the day, there are not a lot of homes in Hawaii that are “similar.” It’s not easy to simply walk next door and buy “another one.” As I advise my buyers all the time, if you find a house you fall in love with, buy it now regardless of the market conditions because more often than not, if you hesitate, the opportunity will be gone. Some other lucky buyer will have scooped it out from underneath you and be enjoying “your” piece of paradise.

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