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68-1122 Kaniku Dr
Kamuela, HI 96743
$3,350,000
Conventional
Property
Bedroom
3
Bathroom
3
Property Type
Conventional
Square ft
2491
Property Description
Front row #203 at Ka Milo in the famed Mauna Lani Resort, with rare ocean and golf course views and seasonal sunsets, has been a full-time home for the last four years. Zoned for Short Term Vacation rentals should the next owner so desire, the 2,491 square feet of living space does not show the signs of wear from multiple rental use. Beautifully and brilliantly upgraded kitchen with extra-large and wide quartz island and counters, with softer colors added to the original all wood cabinetry bringing a modern and lighter feel to the entire home. The foyer has been opened to immediately see the sky and ocean view as you enter the front door and additional cabinetry added for expanded storage. All three bathrooms have been remodeled with clean, white tiling, quartz counters, new bronze fixtures and flooring with the principal bath being the dramatic showstopper. This 2-story 3/3 is the Makani Plan with the largest square footage in Ka Milo. The large downstairs family room has been converted to create an office space which can also be used as an extra sleeping area creating the feel of a 4-bedroom home. The private pool and hot spa are surrounded by mature palms and provide the ultimate privacy while looking out on the golf course and ocean horizon. Approx. 500' of Trex decking frames the exterior on two sides allowing for additional outdoor living space. A limited photo voltaic system of 21 panels and the AC system work in harmony for comfortable indoor living although the folding glass doors to the lanai can be open to the view. Ka Milo's amenity center includes an exceptionally large pool and a 50’ lap pool, fitness center, 2 hot tubs, and an outdoor pavilion. The location allows for easy walking and biking to the Shops at Mauna Lani with a gourmet grocery store and restaurants. As an owner in Mauna Lani your privileges include the owner’s private beach club and the Mauna Lani Ohana Club provides discounts for golf.
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
2007
MLS Number
707025
Location
Address
68-1122 KANIKU DR
City
KAMUELA
State
HI
Zip Code
96743
County
HAWAII
Listing
Provider
Name
Compass
Phone
(808) 762-1796
Office Name
COMPASS
Office Phone
(808) 960-8945
Agent Name
Rebecca Hirsch-Keliihoomalu

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HUD Foreclosures

HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest. The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered. VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

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Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.