Short sales can be challenging buys, but bargains can be had if you’re up to the task. This Kapolei Knolls short sale has been on the market for a week and was reduced by $20,000. Similarly sized homes in the community are listed for $654,000 to $739,000, so this house is priced to move.
According to RealtyTrac, an online marketplace for foreclosure listings, as of October this year, Hawaii had nearly 3,600 REO (real estate owned), or foreclosed, properties. “Any time you hear the word REO, a lender has foreclosed on the property and is putting it on the market for sale,” says Century 21 All Islands realtor and REO specialist Mathew Ngo, who says that the greatest concentration of foreclosures on Oahu is on the island’s leeward side.
I wrote about the Ka Makana at Hoakalei resort community a few weeks back. If you’ll recall, I mentioned that the community’s most affordable housing options, the Lehua Series town houses, were temporarily sold out. Well, lo and behold, the first town home resale has hit the market, and it will be open this Sunday.
Hudson, of the Bizarro Morning Show on Star 101.9, and her rocker husband, Steve Hott, are selling their Makakilo manse. The couple bought the residence six years ago, having fallen for the home’s private location and unobstructed ocean and mountain views. “We loved that the house was on a perimeter lot, and that no one could ever build behind us,” says Hudson. “It’s located on a cul-de-sac, and the neighborhood is quiet. There’s a constant breeze. We have central AC, and I think we’ve used it maybe 20 times in the last six years.”