Poinciana Manor in Kailua - SOLD. Short sale closed after 4 1/2 months.
Posted by Tony Kawaguchi, RA on Friday, October 22nd, 2010 at 2:19pm.
In June I listed this nice 2 bedroom Kailua condo at Poinciana Manor $350,000. This morning the patient buyer finally closed for $356,000, the price approved by the lender.
People always want to know how long short sales take, and the answer is apparently.... about 4 1/2 months. I've had some short sales take about 8 months, and others about 6. This is actually the fastest I have ever had one close.
To be able to buy a renovated 2 bedroom condo in Kailua town for $356,000, just a few minutes bike ride to the beach, is pretty amazing.
Congratulations to my sellers, who are thrilled to be done with this saga. Various financial difficulties meant that the short sale was their best opportunity to be get out from under a mortgage they no longer could afford. Like so many other Americans, the economy, the market, and in this case, their job transfer, made it impossible to stay. They are now very glad to be pa`u!
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Congrats! I know those short sales aren't easy...
Posted on Saturday, October 23rd, 2010 at 3:35 AM.