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. Read entire post →
Posted by Sagar Hallal, RA on June 1st, 2010 |
Tags: Condos, Deals, For Sale, Foreclosures, Kauai, Mauna Kea, Princeville, Puamana, REO
As recently as 3 months ago, bargain seekers had only to scan Princeville condo listings to find a great deal.
One of the few Princeville condo deals on the market today, a Puamana REO (MLS# 234354)
Some listing prices there, impacted early in the game by short sales and REO’s, had fallen to less than 50% of their sales prices at the height of the market. Some excellent deals were had by savvy Buyers.
So where are the deals now? Good question—I had the opportunity to show Princeville condos yesterday and could only find two listings that fit my description of a “deal”. Read entire post →
Posted by David Buck, R, BIC on May 19th, 2010 |
Tags: Big Island, Ewa Beach, Foreclosures, Hawaii, Honolulu, Kailua Kona, Kauai, Kihei, Lahaina, Lanai, Maui, Molokai, News, Oahu, REO, Waikoloa
Hawaii is now ranked 11th in the nation for foreclosures according to RealtyTrac. Maui and the Big Island led the state with each containing two out of the top five zip codes. Here are the top foreclosure zipcodes for the state:
- Kailua-Kona led the way with 193
- Kihei was the highest on Maui with 122
- Ewa Beach had the most on Oahu with 89
- Lahaina was Maui’s 2nd on the list with 75
- Waikoloa was the Big Island’s 2nd on the list with 73
Read entire post →
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. Read entire post →
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).
Read entire post →
Posted by Miriam Perlmutter, R on April 3rd, 2010 |
Tags: Condos, Deals, For Sale, Foreclosures, Hanamaulu, Hawaii, Homes, Kauai, Koloa, REO
The foreclosure market is gaining speed and we expect the many foreclosures that are set to come online will dictate real estate market values during 2010 into 2011. Hawaii Life is getting all the Washington Mutual and JP Morgan Chase Bank Real Estate-Owned (REO) properties for Kauai. Check out what we already have to offer:
Lihue
Kauai Beach Resort unit 3108 (MLS# 233400) is a ground floor unit with direct access to pool and beach areas, and is listed for a mere $71,300.
Residents at the Kauai Beach Resort can go for a swim or soak in the sunshine at the pool, just a few feet away from the beach
Unit 3303 (MLS# 233397) is on third floor with ocean and mountain views, and is also listed for just $71,300.
Watch out for Kauai Beach Resort Units #2349, 2306, and 1118, all REOs coming online very soon. Read entire post →
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.
View all Kauai Foreclosures →
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 Read entire post →
Knowledge is power. I’m sure you’ve probably heard that somewhere before. Well, it’s certainly true in today’s changing real estate market.
Knowing how to maneuver the complexities of short sales as well as how to identify the distinct real estate opportunities in foreclosure are not merely good skills to have in today’s market—they are critical.
We’ve moved a long way from the boom days of 2003 through 2006. And to better understand the challenges of today’s market, it’s important for Realtors to move with the market. Change in any industry is inevitable. The ability to morph with the advancements is a powerful asset for any business endeavor. Read entire post →
Posted by Ron Margolis, RA, ABR on March 16th, 2010 |
Tags: Condos, For Sale, Foreclosures, Hawaii, Homes, Kapaa, Kauai, Kilauea, Lihue, REO, Short Sales
The last two weeks have seen a lot of auctions for Kauai foreclosures postponed on the courthouse steps.
View all Kauai Foreclosures →
Here are the latest list of Kauai Short Sales and Kauai foreclosures for the last two weeks.
Sub $100K Kauai condo without kitchen.
1) Listed at $75,000, Unit 126 (MLS# 232544) at the Kauai Beach Resort is in building 1 with an ocean view. Many people are attracted to a Kauai condo at the sub $100,000 price. It’s crucial to know that this unit is a hotel room and does not have cooking facilities. It DOES however have consistent revenue as the Kauai Beach Resort is a wonderful place to stay and vacation.
This is one of the lesser priced homes on Kauai’s eastern shores.
2) This small home on Puka St. (MLS# 232705) on the northern end of Kapaa is not quite a short sale but for an offer under $220,000 it will most likely become one. Read entire post →
Posted by Ron Margolis, RA, ABR on March 16th, 2010 |
Tags: First Time Buyers, Foreclosures, Hanalei, Hawaii, Kapaa, Kauai, Koloa, Lihue, Poipu, Princeville, REO, Short Sales, Wailua
Time is running out for the extended first-time homebuyer’s tax credit.
Join the experts from Wells Fargo Home Mortgage, Title Guaranty Escrow, Hawaii Life Real Estate, and 101 Financial who are co-sponsoring four free first-time homebuyer seminars on March 22, 24th and 26th and the following week on April 1st. Register online →
Sometimes when buying a first home, home buyers can get overwhelmed by the paperwork and the process. By attending this seminar, you ‘ll get a great head start on understanding this process of home ownership and acquire the knowledge that will help you be more confident when purchasing. Attendees are suggested to bring a notepad to take notes, and there will be plenty of handouts for each of the seminar participants sponsoring the event.
Learn
Our group of presenters will tell you what you need to know and help you avoid an potential scam that may come your way. Read entire post →
