As we finished vacuuming and dusting our new listing at 5781 Ahakea St. (MLS# 237785), the neighbors on the street were gathering for their bi-monthly “block party.” With dozens of children of all ages, the families gathered to partake of a huge feast. Grilled steak, barbecued chicken, asparagus wrapped in bacon and grilled, tuna salads, chicken salads, and an assortment of vegetables, salads, and desserts. What a friendly environment and a great place to live. More »
Ron Margolis, RA, ABR
Real Estate is a wonderful way for Ron to share his broad range of business expertise and technical abilities with buyers and sellers from around the world who have discovered Kauai. Ron is no stranger to change and has developed a great expertise in short sales and foreclosures in Kauai's transitioning market. Ron track's all Kauai's distressed properties and his list of opportunities is the most complete on Kauai. Working with banks and negotiators, Ron understands how to get the transaction to the finish line for a successful closing. Ron is delighted to work on the Hawaii Life team, the perfect home for an agent who is passionate about technology and putting it to work for his clients. Ron is active in the Kauai community. He is a member of the Rotary Club of Kapaa, Business Development manager for the Kauai Concert Association. Follow Ron on Twitter & Active Rain
Wailua Real Estate – Nonou (Sleeping Giant) Mountain Home in Great Neighborhood
Posted by Ron Margolis, RA, ABR on August 17th, 2010 |
Tags: For Sale, Hawaii, Homes, Kauai, Life, Wailua
Kauai Foreclosure Update
Posted by Ron Margolis, RA, ABR on August 2nd, 2010 |
Tags: For Sale, Foreclosures, Homes, Kauai, Princeville, REO, Short Sales
This week on Kauai 5 properties were reverted back to the lender on the courthouse steps. Approximately 30 auctions were postponed til dates in August and September. 12 new listings are distressed properties. The distressed property market is primarily composed of two things:
- REO (Real Estate Owned) – These properties have already been foreclosed on by the lien holder, assigned to an asset management company, and relisted with an REO agent.
- Short Sales – these properties may or may not be in foreclosure but the proceeds of the sale will be less than what is owed to the lienholder and thus require lienholder approval.
Two of the best North Shore values that just listed are in Princeville proper, where an owner can have a legitimate vacation rental. Princeville is sanctioned by the county of Kauai for this purpose since it lies within the VDA (visitor destination area).
8th hole of Prince Course from Villas on the Prince
Villas on the Prince – Unit 30
This 3 bedroom, 3 bath townhome (MLS# 237228) looks out at the Hanalei mountains and overlooks the world renowned Prince Golf Course. This is a short sale with Bank of America and is listed at $579,000. Remember, the pricing requires lienholder approval so it may sell for more than this in the end. The unit is in clean shape and is unfurnished.
5141 Kapiolani Loop
This single family home ( MLS# 237229) is probably the best value for a home under $600,000 in Princeville. It features 5 bedrooms, including two upstairs with spacious lanai and pretty mountain views. The practical laminate flooring is easy to maintain in Kauai and there is a great garden and backyard that can keep you busy if you nurture it. Priced at only $549,000, this home must be sold within two weeks. More »
Congress Extends Housing Credit Closing Date
Posted by Ron Margolis, RA, ABR on July 8th, 2010 |
Tags: Hawaii, Obama Tax Credit
In support of the housing market and pending deals nationwide, the House and Senate have pushed through a three-month closing extension for the homebuyer tax credit.
On Friday July 2nd, President Barack Obama this morning signed HR 5623, the “Homebuyers Assistance and Improvement Act of 2010,” a three-month extension on the closing deadline for first-time home buyers to receive the tax credit.
Potential homeowners with offers currently under contract now have until September 30 to close the deal, instead of the original June 30 deadline. The tax credit remains at a maximum of $8,000. More »
Kapaa Homes for Sale – Double Duplex Investment Opportunities
Posted by Ron Margolis, RA, ABR on July 8th, 2010 |
Tags: For Sale, Hawaii, Homes, Kapaa, Kauai, Vacation Rentals
Kitchen and living room with natural light at 4852 Hauaala Rd. (MLS# 233613)
I have met many local property owners who are always in the market for a good investment property. Some define that as a multi-family property with multiple rentals. I have two short sale opportunities on Kauai’s east side that provide such an opportunity. More »
Kauai Foreclosure Update – May 21
Posted by Ron Margolis, RA, ABR on May 21st, 2010 |
The market on Kauai continues to be biased to the buyers as new distressed inventory continues to manifest.
As we move towards the end of May, the Realtytrac numbers for April show the state of Hawaii moving up to 11th place for numbers of foreclosures.
Acreage on the North Shore and a custom built home ready for your finishing touches (MLS# 234869)
When I checked yesterday’s newspaper, there were 253 foreclosure notices in the paper. When a property is in default, the lien holder generally files an NOD (notice of default) starting the foreclosure process. It is not until some time later that notice for the foreclosure auction is published in the paper. By law it must be published 3 times before the auction is held.
Highlights of some of the new Kauai REO and Kauai short sale listings are noted below, or check out all Kauai foreclosures. More »
April Showers Bring Abundance to the Kauai Real Estate Market
Posted by Ron Margolis, RA, ABR on May 10th, 2010 |
Tags: Hawaii, Kauai, REO, Sales Stats, Short Sales
The velocity of Kauai’s real estate market is staying strong as we move into the Spring season; April real estate closings are up 39% from 2009, while year-to-date sales are up 64%.
April of this year saw 64 real estate closings in Kauai, up from 46 in April 2009. Meanwhile, 2010 has seen a total of 218 sales compared to 133 this time last year. The sales breakdown for April 2010 includes 23 homes, 11 land, and 30 condominiums. More »
Standout Kauai REOs (May 2010) – Can I Please Give You a Condo on the Beach?
Posted by Ron Margolis, RA, ABR on May 9th, 2010 |
Tags: Condos, Deals, For Sale, Foreclosures, Hawaii, Homes, Kapaa, Kauai, Koloa, Princeville, REO
As we moved from April into May’s market the number of distressed property listings continues at a brisk pace.
There are three new short sales at the Kauai Beach Resort including a unit at $40,000 (MLS# 234148). Pretty soon they’ll be paying us to take these units, LOL.
At the Islander on the Beach, a smaller condotel complex in a great location across from the Coconut Marketplace, we had 5 new listings that are Kauai REO’s from Pacific Rim Bank, plus a new short sale listing. Prices have adjusted at this complex so that the choicest oceanfront units (truly oceanfront where the pounding surf may keep you awake at night) have adjusted from their selling price of $350,000 to between $150,000-165,000 (MLS#234015 & MLS# 234481)—a correction of over 50%.
Kauai REO Highlights
Check out all Kauai Foreclosure Listings →
- A 2 bedroom condo at Puamana in Princeville ( MLS #234345), adjacent to the fabulous Westin Resort in Princeville, home of the superb Nanea restaurant and bar. Over 1,532 sq. ft and priced at under $200 a square foot, this is a lot of condo for the money.
- A larger parcel close (MLS# 234286) to Koloa on the south side, this property has been occupied for years through an agreement of sale that has now gone bad. Yes, it needs work. But, this is 5 bedrooms, 3 baths, on a half an acre close to the south shore’s tourist area and you can purchase it for less than $400K is my guess. More »
Agents Helping With New Kauai Short Sale Guidelines
Posted by Ron Margolis, RA, ABR on April 20th, 2010 |
Tags: Hawaii, Kauai, News, Short Sales
Short Sales have become the new norm in today’s real estate market and Kauai is certainly no exception. In fact as we enter into the Spring market (not generally as robust a selling season on the neighbor islands as on Oahu, which is the state’s “urban” market), Short Sales on Kauai comprise about 20% of the markeplace and REO listings (bank-owned foreclosures) comprise about 15%. More »
Kauai REO Bank-Owned Update
Posted by Ron Margolis, RA, ABR on April 10th, 2010 |
Tags: Anahola, For Sale, Foreclosures, Hawaii, Homes, Kapaa, Kauai, Kilauea, Lawai, Lihue, Moloaa, Poipu, Princeville, Puhi, REO, Short Sales
Whatever your price range, there’s an REO for you.
Kauai’s REO inventory offers homes in multiple price ranges, although the majority of the bank-owned properties are in a more modest price range. When the banks foreclose, the banks have already done an appraisal and are pretty clear on the value of the home. REO listings are generally very well priced, and there’s not too much negotiation on them. In fact, a bank-owned Nihilani in Princeville listed for $418,900, almost $100,000 below the current market value of these modern townhomes, and no wonder there were four offers above asking price within a week.
Custom home with big ocean views (MLS# 233650) - waiting for you to finish
Here are the newer REO listings you may consider:
- 4673 Hauaala Road, Kapaa. (NEW) A 2 bed / 1 bath home on 1.9 acres of land. $695,000. (MLS# 232984).**
- 4208 Mano St, Puhi (Lihue area). $325,000. Already under contingent contract. (MLS# 233538).
- 3874 Hunakai St, UluKo subdivision, Lihue. A 3 bed / 2.5 bath, plus family room. This home is big, but quite a project. Not for the faint-hearted. $434,900. (MLS# 232974).
- 1643 Papau St, Kapaa. This is a 3 bed / 1.5 bath home. One of the more affordable eastside homes. $259,900. (MLS# 232990).
- 2365 Oka St, Kilauea. 2 bed / 1 bath homein Kilauea town, a popular neighborhood for young families. $269,900. (MLS# 231859).
- 3648A Moloaa Rd, Moloaa Bay. Just steps from the ocean. $832,800 (MLS# 232417).
- 4560-M Uha Road, Lawai. A large brand new but not yet finished 4 bed / 4.5 bath home on 2.04 acres. $900,000. (MLS# 233650).
- 4462 Imua Place, Kilauea. A 3 bed / 3 bath home appearing to be in good condition. $399,900. (MLS# 232165).
- 5086 Napookala Circle, Princeville. Fabulous golf course lot, 15,326 with a tired 2,206 sq. ft home, needs reworking but great potential. $643,800. (MLS# 229705).
- 4679 Emmalani Dr, Princeville. 1861 sq.ft. of living area. Great mountain views. There is a non-conforming 1 bedroom apt. downstairs not included in the square footage. $567,000. (MLS# 227993).
- 4345 Naulu Place, Koloa. Located off of Omao Road this property is a true fixer upper. This property has it all. Rot, mold, termites and more. It is part of a 2-unit CPR. $190,980. The smaller home behind it was foreclosed on the courthouse steps this week and should be coming on market shortly. (MLS# 230334).
- 3384 Kekaha Rd #A, Kekaha, 2 bed / 1 bath home on a small CPR lot for $277,900. (MLS# 230302).
Kauai Foreclosure Update – March 30
Posted by Ron Margolis, RA, ABR on March 30th, 2010 |
Tags: Condos, Deals, For Sale, Foreclosures, Homes, Kapaa, Kauai, Land, Lihue, Princeville, REO, Short Sales, Wailua
While we have a few new REO listings and there are 16 Kauai REO properties in escrow, we continue to see an increase in short sales. Once the major lenders launch their participation in the HAFA program, we will continue to see more short sale opportunities and hopefully the time frame from writing an offer to a successful closing will get shorter. As an advanced member of Distressed Property Institute, we have a website that will help you understand what HAFA is all about.
Here are the latest list of Kauai Short Sales and Kauai foreclosures for the last two weeks.
1) Two excellent Princeville condo opportunities listed in the last couple of days. 
The Plantation at Princeville is a complex of 68 two and three-bedroom condos. Unit 622 (MLS# 233255) is a short sale listed for $415,000. Three bedrooms and three baths and this list price is now below the developer’s original prices in 2004 when the project was started. Each unit has a single car garage.
Plantation at Princeville short sale until location within complex
The other Princeville value (may be sold by the time you read this posting), is an REO at Nihilani at Princeville for $418,900, a modern condo complex of 34 triplexes (the last three units are just being built).
3 bedroom unit, turnkey vacation rental, Nihilani at Princeville Resort
The location of Unit 13C (MLS# 233385) is by the front entrance and on Pepelani Loop, so it will be a busy location. BUT, the unit has multiple upgrades including plantation shutters, built-ins in the closets and in the office, and appliances like a Fisher-Paykel dishwasher (I want one of those, you don’t have to scrub the dishes before putting them in the unit). A three-bedroom Makani floor plan has never sold at Nihilani for under $500,000 so this unit is definitely a deal.
2) In the condotel space, we have six new listings More »
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