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Waikoloa Village Real Estate – Short Sales Hit Vacant Lots

Short sales seem to be everywhere in real estate these days, and last quarter, there was even a short sale in Waikoloa Village for a vacant lot.

This lot (MLS# 224518) has ocean views towards the Kohala’s & the Kona coast, and is listed at $255,000

There weren’t many lot sales last quarter in Waikoloa Village, but of the ones that did occur, 50% were distressed. This is in line with the 50% of distressed sales found in many condo and home sales in the Village. Of two sales for the quarter, one sale was a short sale for a lot on Kehela Place that closed at $90,000 cash. The other sale was also cash for a lot on Uala Place at $119,000.

Excluding some large acreage lots that are listed in the millions, there are 15 lots currently listed for sale in Waikoloa Village. Prices start at $64,900 for a lot in Kilohana Kai (MLS# 200003), which has most of the lots listed for sale at this time. Ten of these lots are priced at $110,000 or below. Is it now affordable to buy vacant land in Waikoloa Village?

If you would like information on any of these lots, please feel free to contact me.

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