LUXURY HOMES on Bank Repossession List

Mauna Lani Point

68-1991 Papakonane Ct. at Mauna Lani Point

Now Reduced $2,000,000 to $1,600,000

LUXURY HOMES located in world class resorts, like this Mauna Lani Point home, top the list of bargains showing up as REO (Real Estate Owned) property for sale in West Hawaii. This Papakonane Ct. house has been available for a year now.

WHY IS IT STILL on the market? Most people don’t think to look for bargains in this price range. Buyers in Kona are reluctant to make an offer if they think the asking price is high. Most banks develop a strategy for selling REO’s that works well across the country on average priced property. At $2M this is not an average property and Hawaii is unique. In West Hawaii, most $1M+ homes go under contract within 45 days of the last price reduction and sell within 94% of the asking price.  Some banks, however, don’t seriously review their price until they have an offer.

SOMEONE WILL STEP UP for this house sooner or later. I expect they will get a real luxury bargain and I would like to be the agent who represents the buyer. For more information e-mail   MaunaLani@JoyceMurphyRealtor.com and type in “Send Info”. I will send more photos, a complete description, historical data from the public records and a CMA (Comparative Market Analysis).  All the REO properties on my list are easy to see immediately.

FOR REGULAR UPDATES on repossessed property for sale on the Kona side of the Big Island, e-mail REOs@JoyceMurphyRealtor.com and type “Send Kona List”. NOTE these are NOT Short Sale Properties! Currently the list offers 19 condos and homes priced from $109K to $599,900. Most are located in Kailua-Kona.

I AM FREE TO REPRESENT YOU as your “Exclusive Buyer’s Representative” and negotiate on your behalf to purchase these properties because none are Hawaiian Isle Real Estate LLC listings.  Twenty of my thirty plus years in real estate were spent representing residential real estate investors. Let me put that experience to work for you. I will walk you through the process of buying an REO property.

Joyce Murphy, Realtor Broker BIC
Hawaiian Isle Real Estate LLC and Luxury Real Estate Florida, Inc.
“In Real Estate, Experience Counts!”
808-443-4302
www.LuxuryRealEstateHI.com

Accredited Buyer’s Agent

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