Home for Sale at 28-3628 HAWAII BELT RD, HONOMU, HI 96728

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28-3628 Hawaii Belt Rd
Honomu, HI 96728

Kenneth Springer with Hawaii Life, original listing - (800) 370-3848

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Property Details

List Price:	$23,000,000
Beds:	5
Baths:	Full: 6, ½: 2
Status:	Active
SqFt:	9019 Square Feet
Agency:	Hawaii Life
Agency Phone:	(800) 370-3848

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Description/Comments

Lot Size:	51 acre(s)
Property Type:	Residential-Single Family Residence
Year Built:	2004
Notes:	For the discriminating buyer who seeks exclusivity, luxury, privacy, and security, this 51+acre gated, fully fenced estate, with nearly a mile of oceanfront, offers a singular opportunity on the Hamakua Coast on the Big Island of Hawaii. <br /> From the moment of entry through a private gate it becomes clear that something special is about to unfold. Through Norfolk Pines transitioning to majestic Royal Palms, past 10 acres of Macadamia Nut Trees, Citrus and Avocado orchards, and acres upon acres of manicured lawns, this magnificent estate unfolds as a foreground to a mile of shoreline along the mighty Pacific. <br /> Serviced by local utilities, this estate also boasts its own deep water well and a Photovoltaic array both capable of meeting all the water and electrical needs of the estate. <br /> The residence, with 9000+ square feet of living space, includes five bedrooms, five full and 2 half baths, and a one bedroom, one bath Ohana unit. An elevator and grand staircase services the second- floor primary bedroom suite which comprises 2800 square feet. The suite is surrounded by a covered lanai and offers never ending views of the shoreline and ocean below. The gourmet kitchen, with the latest in luxury appliances, as well as dining facilities and public living spaces, are an entertainer’s dream. <br /> Equipment barn, together with all the machinery and equipment necessary to care for the property, is included.
MlsNumber:	--
ListingId:	708901

Listing Provided By:	Hawaii Life, original listing
Phone:	(800) 370-3848
Office Phone:	(800) 370-3848
Agent Name:	Kenneth Springer
Disclaimer:	Copyright © 2024 Hawaii Information Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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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.

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.

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