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5427 Wailaau Rd
Koloa, HI 96756
$2,988,000
Conventional
Property
Bedroom
5
Bathroom
5
Property Type
Conventional
Square ft
3607
Property Description
NO HOAs! LOCATION, LOCATION, LOCATION!
This remarkable south shore property offers a serene escape from the hustle and bustle of Poipu while keeping you close to essential amenities and pristine beaches, just a short walk into historic Koloa town. Enjoy sustainable living with over a dozen mature fruit trees and plenty of room for a large garden, chickens, and livestock on this expansive 1.27 acre agricultural estate. This unique sanctuary boasts two distinct homes, each with its own utilities and septic, and a 1600 sq. ft shop with expansive loft. Live in one house and rent the other or CPR (check with the county) and sell one. Fully fenced back pasture with stalls and covered parking. The 2160 sq ft. main house with open kitchen/living area and high ceilings, Koa cabinets, stainless appliances, and granite counters. The 3/2 home has a large laundry room, office area, 4 vehicle carport, solar hot water, and ample storage. Tucked in behind the areca palms find the very private 2nd home. Enter the plantation style 2/3 house built in 2003, through double glass doors to an open kitchen/living area with vaulted ceilings. The large primary bedroom has an ensuite bathroom with a jetted tub and view of pasture and mountains. The slider provides access to the private deck and the fenced backyard. The 2nd bedroom features a separate entrance, ensuite bathroom, kitchenette with refrigerator, microwave, bar sink, and hookups for a washer/dryer, ideal as a mother-in-law studio. The detached 1,600 square foot workshop with 14’ and 10’ rollup doors provides covered enclosed parking for your boat and other toys, a mechanics dream space, and a loft that could be used as office space, storage, and hobbies.
Enjoy the breathtaking mountain views, numerous rainbows and tranquility of this property as you harvest from mature fruit trees; avocados, mangos, orange, tangerine, lychee, banana and more! This exceptional property, at approx 300’ elevation is outside of the flood zone.
Property Information
Lot Size
1 acre(s) square ft
Property Type
Residential
Year Built
1987
MLS Number
706482
Location
Address
5427 WAILAAU RD
City
KOLOA
State
HI
Zip Code
96756
County
KAUAI
Listing
Provider
Elite Pacific Properties, LLC, original listing
Name
Elite Pacific Properties, LLC
Phone
(808) 589-2040
Office Name
Corcoran Pacific Properties
Office Phone
(808) 589-2040
Agent Name
Tim Mira

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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.