Last Wednesday, August 31st, the Kauai Board of Realtors held their quarterly GMM (General Membership Meeting) at the Kauai Marriott Resort and Beach Club in Lihue. The GMM is a time for Realtors to get together and network and learn about changes in the industry, and compare views of the market. Occasionally, one of the guest [...]
The recently released U.S. Foreclosure Sales Report from Realtytrac, generally considered the de facto expert on tracking our nation’s foreclosure market, statistically confirms a trend that is evolving here in the islands and on the mainland as well. The report dissects and analyzes the sales of distressed properties in the 2nd quarter of 2011. Remember [...]
Well, it’s been 32 days since I published a blog post with my initial thoughts about Act 48, the 101 page bill (formerly Senate Bill 651) which was signed into law by Governor Neil Abercrombie on May 5th, 2011. How is this new legislation going to effect homeowners (the act’s intention is to help Hawaiian [...]
The Hawaii Legislature just passed Act 48, which was signed by Governor Abercrombie on May 8, 2011, thus becoming law. The intent was to try to give owner occupants of Hawaii properties an opportunity to sit down with the lender in a non-judicial foreclosure to attempt to negotiate the terms of the loan. It also [...]
Governor Neil Abercrombie signed Senate Bill 651 last week, and Act 48 takes effect immediately in the State of Hawaii as of May 5th, when the bill was signed. Of course, since each island is a county in the State of Hawaii, this effects all islands and applies to the foreclosure process on a statewide [...]
Here are couple interesting Kahala properties showing as active listings in the multiple listing service. The first one is a 2 bedroom, 1 bathroom town home with tandem parking for 2 cars. It is the lowest priced 2 bedroom fee simple Kahala listing on the market at $415K. This is a property that has been foreclosed and is [...]
Run, don’t walk! REO in Ewa Beach (MLS# 1103026) This is for anybody in Hawaii who has a home loan with Bank of America and has become delinquent in their mortgage payments, or have requested, been denied, or are in the process of a loan modification.
This Hawaii Kai condo is a short sale (MLS#1011681) currently available for $599,000 Are short sales, bank owned properties, and foreclosures really good deals? The correct answer is depending on what kind buyer you are.
Some of the best deals on the market are properties that have been foreclosed and then put on the market by the lending institution that currently holds title. In the industry they are known as REOs. It is best to verify that title has actually been conveyed back to the lender selling the property before entering [...]
Foreclosure is a reality that affects millions across our great nation. This Turtle Bay REO (MLS# 1100703) is listed for $1,075,000 and last sold for $1,750,000 According to a recent article by Bankrate.com, even the “rich and famous” get into foreclosure trouble. The most notable of which is Nicholas Cage that got foreclosed on 2 [...]
Having watched the Diamond Head Real Estate market like a hawk the last 10 years, it’s seldom I see an REO, or Bank Owned Property for Sale. 3006 Pualei Circle #103 (MLS# 1014167) is listed for $324,900 A new listing recently popped up at the Gregg Apartments in Pualei Circle. For those of you that [...]
Growing up in Tucson as a young boy with my four brothers, I fondly remember our visits to what we all called the “used bread store.” Feeding five boys as a widow must have really been challenging for my mother, Janet, but we never had a clue. Food was something we were always delighted to [...]
The possibility of finding a deal on Hawaii real estate is now on the rise. Hawaii ranks 9th in the nation according to www.realtytrac.com & www.bizjournals.com on the number of bank foreclosure actions compared to third quarter 2009. Big Island & Maui County have the largest increases, with more than double on the Big Island, [...]
While major lenders evaluate their foreclosure processes, delinquent and seriously delinquent homeowners now have more time to evaluate alternatives to foreclosure. It’s hard to miss the news in real estate today: major lenders are investigating issues in their foreclosure processes. To date, GMAC (now Ally Financial), JPMorgan Chase, and Bank of America have announced foreclosure [...]
Some banks suspending Hawaii foreclosures for the time being because overwhelmed bank officials have been signing off on foreclosures without ever reading the paperwork! I’m always skimming financial news because it affects jobs, portfolios, consumer confidence and real estate prices…in other words, everyone and everything. Some recent news items caught my eye. The Dow closed [...]
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