Kauai Foreclosure Update, April 7 – 14

1. Purchase this property in Lihue for as little as 3.5% down! Approved for HomePath Mortgage and HomePath Renovation Mortgage financing. There are certified lenders for this process on the island of Kauai. This Fannie Mae owned “REO” property is sold “as-is” and there is no seller’s disclosure.

4119 Aheahe Place in Lihue - Close to Costco and Home Depot

4119 Aheahe Place in Lihue - Close to Costco and Home Depot

The interior of this home is in fantastic condition for a foreclosed home. Close to Costco, Kalapaki Beach, and Home Depot. This is a Kauai Fannie Mae REO home listed at $485,000.

2. Unit C409 at Pono Kai is listed at $472,900. Ya gotta go back almost two and a half years for the last 2 BR/2 BA sale which was at $600,000. Countrywide Kauai Foreclosure!! This 2 bedroom unit has great ocean views. Free appraisal & credit report if after being pre-qualified with Countrywide youwind up financing the loan with Countrywide or a Countrywide approved lender such as Western Paradise Financial.

Pono Kai C209 - Oceanfront in Kapaa - Pools/Putting Green

Pono Kai C209 - Oceanfront in Kapaa - Pools/Putting Green

3. Question: When is a foreclosed kauai property not the best deal on the block. Answer: When you have a really motivated seller. That’s what you got here. This is Kauai’s least expensive one bedroom condo with full kitchen. Listed at $169,000 and seller is extremely motivated”. Based on last year’s rental income, and owner who paid $140,000 would be receiving a 4-6% return on their investment. You can afford to own a condo on Kauai, can’t you!

Pono Kai C209 - Oceanfront in Kapaa - Pools/Putting Green

Pono Kai C209 - Oceanfront in Kapaa - Pools/Putting Green

4. OK, so this unit is in foreclosure but may be purchased as a Kauai short sale. This property near Lihue is a newer townhome, built in 2005, with a 2-car garage that is coming on the market at the Villas at Puali for the mid 300′s. Make an offer in the 200′s and get something practically new with a 2-car garage. Email me for the details on this short sale- pre foreclosure on Kauai opportunity.

Modern Townhome with 2-car garage - in Puhi

Modern Townhome with 2-car garage - in Puh

Here’s the latest activity of Foreclosure filings on Kauai by areas for the first half of April. You can see there is less foreclosure activity on the south side of Kauai.

April Foreclosure Filing Activity on Kauai

April Foreclosure Filing Activity on Kauai

Here is the comparison of percentage of Kauai Foreclosures to both the Hawaii and National averages.

Kauai Foreclosure rates compared to State and Nation

Kauai Foreclosure rates compared to State and Nation

If you’d like to have a personalized list of the latest Kauai foreclosure listings , both properties in pre-foreclosure and properties that have auctions scheduled, request your desired area of the island of Kauai and I’ll email you a spreadsheet filled with opportunities.

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3 Responses to “Kauai Foreclosure Update, April 7 – 14”

  1. Susanna Kunkel
    April 15, 2009 at 6:38 am #

    Great information Ron. The statistics are very interesting. Even though it feels like we have a large increase in foreclosures, our market still trails behind the foreclosure trends on the mainland.

  2. Ron Margolis
    April 15, 2009 at 7:38 am #

    Yeah, i think part of that is that the neighbor islands like KAUAI, Maui, and the Big Island, are primarily second home markets and thus many of the sales come from folks who are buying second homes/vacation homes. Typically, that is a more affluent person who can own a second home and our foreclosure rates would be less than in say an urban market.

  3. Meg Stouder
    May 15, 2011 at 3:25 pm #

    Thanks for all your help and support, Ron.

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