On one of the last days in 2009, Papali Wailea unit #6 showed in the Maui MLS with a $300,000.00 price reduction. Not three weeks have past and this unit in Papali Wailea has been announced as one of priciest Maui Short Sales. Unit #6 is brand new and has never been lived in.

Papali Wailea still counts as one of the New Developments within the Wailea Resort area and not all of the original units have yet been sold. This particular Wailea Condo first closed and transferred title in April of 2008 for a whooping $3,240,000.00. Then, in June of 2009, we have seen Papali Wailea unit #6 first back on the market for just below $3,300,000.00. In November of last year the price was reduced to $2,699,000.00.

Today, after 219 days on the market, unit #6 is listed for $2,395,000.00. Well, from my experience I can say that life in the “Short Sale” world is not exactly that easy. Though the Seller may still accept an offer, it is now the lien holder who will make sure that the property gets sold close to market value. Mostly this extra signature translates into extra time and patience necessary to close the sale. Nevertheless, it might be a great deal for the right person.

If you are interested in this or any other of the South Maui Short Sales, please contact me at your convenience. Together with my weekly Sales Reports, I started running lists for Bank Owned South Maui Real Estate and for South Maui Short Sales. They are in PDF format and can easily be emailed.

Today’s Maui Photo was taken from the side of the infinity edge pool of Papali Wailea. In my opinion, this is the single one superior construction from any of the Wailea Condos ever built. There are only 24 units in total, lots of room and open space on over 10 acres of gently sloped land. In fact, these could be considered Wailea Homes much more then Wailea Condos. All of the units are free-standing, only attached to one side through the neighbor’s garage roof line.

The Papali Wailea Plat Map is printable from this website and greatly helps to locate any of the units including Papali Wailea #6. More easy: contact me for a tour    Mahalo, VW

This entry was posted on Thursday, January 21st, 2010 at 11:00 pm and is filed under New Developments, Wailea Condos, Wailea Homes. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.