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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 sunny 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 (less than a quarter mile) walk into downtown 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 and a 1600 sq. ft workshop with expansive loft. The back pasture is fully fenced and includes stalls and covered parking. Enter the 2160 sq ft. main house to an open kitchen/living area with high ceilings, Koa wood cabinets, stainless steel appliances, and granite countertops.
The 3 bedroom, 2 bathroom home also features a large laundry room, office area, 4 vehicle carport, solar hot water, and ample storage. Enjoy beautiful mountain views and a peak of the ocean from the upstairs bedrooms.

Drive up the side driveway to find the very private second home tucked in behind the areca palms. Enter the plantation style house built in 2003, through double glass doors to an open kitchen/living area with vaulted ceilings. Adjacent to the open living area is the laundry and guest bathroom. The back door off the kitchen, provides access to the private backyard and patio, excellent for barbecuing and entertaining. The large primary bedroom has an ensuite bathroom with a jetted tub and view of pasture and mountains. The slider in the primary bedroom provides access to the private deck and the fenced backyard.
On the opposite end of the house is the second large bedroom with its own front entrance and slider onto a private deck. The second bedroom features an ensuite bathroom, a kitchenette with refrigerator, microwave, bar
sink, and hookups for a stacking washer/dryer.

*see continued description attached (click on paperclip icon)
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.