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134 Wailau Pl
Lahaina, HI 96761
$6,950,000
Conventional
Property
Bedroom
5
Bathroom
5
Property Type
Conventional
Square ft
5013
Property Description
Let's start with amazing unobstructable panoramic ocean and island views from almost every room. The infinity edge heated saline pool and spa blend with the horizon. 5.2540 acres. High ceilings with incandescent soffit lighting. Wine cooler, professional grade Thermador gas range, double ovens and microwave, gorgeous granite counter tops and a bar that can seat 5-6 people plus a formal dining room, ceiling high cabinets and spectacular ocean views looking out from the entire kitchen. When the fires swept into the town of Lahaina the single older woman owner left immediately to the mainland to live with family members so the house has been vacant for around 9 months and needs just a little TLC on the exterior. This house is very large and is perfect for a large family with a Nannie or a mother-in-law because it has a very spacious king sized one bedroom attached ohana with its own double door entry. Over 5000 living square feet of interior living area with 5 bedrooms, 5 baths and 10+ rooms and almost every room opens out to the pool and ALL ON ONE LEVEL WITH NO STEPS. This house is high end with Travertine floors, a great room, media area, den/library, big walk-in pantry, very large laundry room. This house sits far from the street and is very, very private. Instructible ocean views. This house is quite special. The living room/great room has 30' wide wood framed pocket doors that open the house to the huge covered patio which is quite dramatic. There are custom made sun shades that cover the 30 foot expanse that are remote controlled when that Lahaina sun starts setting. Gas tiki torches create that tropical ambiance. The double door entry is framed on each side by large glass panels which is stunning. The open expanse of this very elegant house is impressive. It is spacious and must be seen to be appreciated. There is a security system, zoned central air conditioning, ceiling fans, an irrigation system that was literally just upgraded late April 2024. There is a 760 SF three car garage with epoxy floors. There is a new water softening system. Surround sound throughout the entire house with an entertainment center. Let's talk about the huge fabulous oversized primary suite with its own foyer entry, living room and hotel spa sized master bath with double head rain showers and large Jacuzzi tub. There is a large walk in closet. Honestly, this bathroom belongs in a resort hotel. It has a sitting area. This bathroom is totally unique and very elegant. An abundance of granite and Travertine. There are so many amenities it's hard to list them all but I think I got most of them. Right now, as of May 2, 2024 this is the biggest house for the lowest price. Absentee owners will look at any serious bonofide offer. This is a CPR lot. By way of comparables: Wailea Resort 5,423 SF on a 16,078 SF lot is asking $7,700,000 with 4 Bdrm 4.5 baths. 4,588 SF on an 11,677 SF lot asking $8,800,000 3 bdrm 3.5 baths. Launiupoko-4,670 SF on 35+ acres. 4 bdrm 4.5 baths: $6,795,000. Launiupoko under construction: 4,020 SF on 1.2 acres. 4 bdrm 4.5 baths. $8,090,000. Launiupoko-4,557 SF on 2.03 acres. 5 bdrm 6 baths: $8,290,000 Launiupoko-5,777 SF on 5+acres. 5 bdrm 5.5 baths: $10,450,000 134 Wailau by far is the Biggest house for the lowest price around.
Property Information
Lot Size
5 acre(s) square ft
Property Type
Residential
Year Built
2005
MLS Number
402034
Location
Address
134 WAILAU Pl
City
Lahaina
State
HI
Zip Code
96761
County
MAUI
Listing
Provider
eXp Realty, LLC, original listing
Name
eXp Realty, LLC
Phone
(808) 384-5645
Office Name
eXp Realty
Office Phone
(808) 725-2794
Agent Name
Bruce Travis

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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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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.