This week, I previewed a home with my buyers that was screaming “adopt me”!! It wasn’t right for my clients, but could be a great opportunity for new owners at the right price. It was like leaving the Shelter after seeing a cute dog or cat that you just want to take home with you. This home is crying for new owners.
Located on the rim of the Wailua River, this property has direct and expansive views of Secret Falls, along with the Wailua River valley and mountain ranges beyond:
Located on Haaheo Street, which borders the rim, this home is at the end of the cul-de-sac. Although there are neighbors close by, the location of the home on the rim is such that you only see the valley, waterfalls, and mountains from your main living area. The swimming pool is in the “front” of the lot (closer to the street).
A luxury home in it’s day, it’s been vacant for some time and there are upgrades and deferred maintenance needed. The concrete fence around the pool is functional, but detracts from the visual appeal (and value). The home has tremendous potential for the right buyer – and of course, at the right price. The listing agent shared that the owners had passed away, and the family was getting more motivated to sell and mentioned an anticipated price reduction. Unfortunately, that meant going from $999,000 to $935,000 – which is still way above today’s market. A recent sale in the neighborhood was for $805,000 (all cash) without the pool and not the tremendous views. That home was in better condition, but not as nice views.
That sale was also before the “Bailout” and the recent economic downturn. We are in the slow season of the market, and buyers are facing what the press calls global economic uncertainties. In today’s market, trying to find high quality homes where the sellers are realistic about today’s prices is indeed a challenge. Add to that, trying to find a seller who even has room to negotiate without going into a short sale situation and the inventory narrows considerably. This home appears to have all the makings of a great opportunity -except the Sellers are unrealistic about the price and perhaps need to be educated with an offer.
Here’s a brief video of the views from the large lanai overlooking the rim published on YouTube (you’ll hear my grandson’s voice in the background):