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Waikoloa Condo Sales Drop as Low as 70K

Wow! June saw not one but two condo sales in Waikoloa that closed in the $70,000 range.

Elima Lani unit #404, listed at $98,000, actually closed at $73,500. And Fairway Terrace B101, a 2 bed / 2 bath unit listed at $83,900, closed at $77,500. These were both REO’s, or bank-owned properties, that had already gone through foreclosure. In addition, Fairways F1029, also a 2 bed / 2 bath, sold at $94,500.

All told, there were six sales in June for Waikoloa Village condos as Waikoloa continues to show healthy sales numbers. A one bedroom in the Waikoloa Villas sold for $155,000, and the top sale price of the month went to a unit in the Paniolo Gardens at $200,000.

A second Elima Lani unit, yet another REO, sold for $123,000. This second floor unit had some tile upgrades, but was not a prime-on-the-golf-course location. For anyone who has been told to avoid REO’s, I’d say take a look at what happened here. That in one month, two similar REO condos can sell in the same complex, but one for 60%  less than the other.

How can you go wrong buying an REO when it’s a condo at Elima Lani for $73,500? (For those of you that are wondering what bank it was that would go so low, it was HSBC Bank USA National Association.)

If you would like more information on any of the 42 condos currently on the market in Waikoloa Village, please contact me .

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