Yesterday’s front page of the Star Bulletin read Foreclosures Up 286%. Hawaii dropped from our worst ever ranking of 10th nationally to 11th in January. In December, Ewa Beach led Oahu in foreclosures. However this month, Kapolei surpassed Ewa Beach (now 3rd in the state) and Kailua-Kona (ranked 2nd) on the Big Island.
Update: Check out the latest Kauai REO and Short Sale List → Twelve new bank-owned Kauai listings this first week of February. Here are a few of them that are attractively priced. For some of these condos, with an all cash purchase, a positive cash flow is becoming more feasible. Bank Owned #1 Plantation Hale [...]
There is always value in solid residential neighborhoods, and that’s the driving force behind an increase in activity in upper South Kihei in recent weeks. The draw to the area is clear to anyone who has visited the two closest beaches, Keawakpu and Kamaole III. Most of the homes here range from 1600 to 2500 [...]
Our first round of seminars for Kauai residents entitled, “Home Ownership 101″ was well attended this week. Over 70 attendees came to our presentation that focused on: The process and sequence of purchasing a home Programs and tax benefits for first time home buyers FHA, VA and USDA rural loans – (These are the loans [...]
The front page of yesterday’s Star Bulletin had an article titled “On Shaky Ground” talking about how Ewa Beach led Oahu in 2009 with the most foreclosures with 636 in 2009. Believe it or not, Waikiki was 2nd with 538 and Kapolei was 3rd with 364. What was incredible about the article is it said [...]
Want to buy 20 acres near Hawi at a “fire sale” price? A new foreclosure listing in the Puuepa Ranch subdivision in North Kohala was just released at $642,900 and is sure to attract interest! This parcel was purchased by the previous owner in 2006 for $1.2 million. Historic site below Puuepa, Hawi Although there [...]
Some people think the worst of the recession is behind us. Other people, like on this month’s cover of Economist magazine, are providing a “bubble warning” cautioning it’s readers that “many of our asset classes are overpriced.” Regardless of your opinion, one thing is for certain. On the North Shore of Kauai., the affordability factor [...]
As you may know, President Obama asked the banks to put a stay on foreclosures during the holiday season. Well, the holidays are over. Expectations are that the market place will be flooded with foreclosure sales for the next two years, and these statistics include our island home. Buyers, this is a great time to [...]
On Kauai, single family home sales jumped to 36 in December, up 89.5 percent from 19 the same month a year ago. The median home price also went up on Kauai, which set it apart from trends on the Big Island and Oahu. The Kauai median home price increased 8.2 percent to $530,000 from $490,000 in December. The median price was skewed by a couple of very large closings in December. There were 15 condominiums sold, six more than a year ago, however the median price dropped 49.8 percent to $313,500 from $625,000 last year. In a market as small as Kauai, just a few individual transactions can effect the market.
Reviewing the year, we had 500 real estate transactions record for the calendar year of 2009. My notion is that we may have a larger number in 2010 as the momentum of foreclosures, short sales, and failed loan modifications will result in more superb values, and buyers that are finally willing to pull the trigger.
I’ve noticed over the past couple of weeks a continual chatter back and forth between the members of the Big Island Hawaii Life team as we show and write offers on properties on the Big Island’s Kohala Coast—especially short sale and foreclosure properties. Luckily, Hawaii Life prepared a Notice to Buyer Clients for us to [...]
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