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 →
Living at Hali Kai in the Waikoloa Resort is what I call true bliss.
Halii Kai is a gated, low density resort that stretches out over 30 acres with panoramic views of the Pacific Ocean
This 2 bedroom, 2 bath floor plan (MLS# 225462) allows you to enjoy the spacious second bedroom creating essentially 2 master suites. Cooking is a pleasure with the granite counter tops, stainless steel appliances and ample cabinets made of African mahogany. Ocean views from the master bedroom, great room and lanai all for $530,000.
You will take pleasure in the laid back lagoon-style salt water pool all looking over the ocean. With your own private restaurant, and bar you will have to sit back and take in the famous Mai Tai’s while working on your tan. If must get in your daily workout you won’t have to go far, there’s a tennis court, a half-basketball court, and a fitness center with treadmills and weights. You are only minutes away to Anaehoomalu Bay where you can scuba dive, or snorkel. You can also tee off at one of the resort’s 2 championship golf courses or enjoy the fine shopping at the Kings or Queen’s shop marketplace.
Live here fulltime or use as a vacation rental. Top rated with TripAdvisor.com
View my favorite Big Island Foreclosures →
Contact Tara Kelly, RS for more information (808) 542-6014
At only $474,900, this Keauhou Bay Lots cottage (MLS# 235306) is a deal not to be missed.
78-140 Holua Road (MLS# 235306), Keauhou Bay, North Kona.
This one-of-a-kind beach cottage, nestled amongst coco palms and lush landscaping, is just around the corner from the historic and picturesque Keauhou Bay. The cottage is built for both indoor and outdoor living, and features multiple lanais.
Read entire post →
You see these terms on for sale signs, real estate ads, on the internet and even in your own neighborhood. Have you ever wondered what it all means?
Hopefully this is your exit sign to owning a new home, not losing one
Here are some quick definitions of each:
Short Sale – This is when a property is being listed for sale for less than what the balance is owed. This buying process is longer and all parties should have a lot of patience.
Foreclosure – Is the process that allows the lien holder to recover the amount owned by taking the property ownership back. This timeline varies from state to state, lender to lender. Once the foreclosure occurs the intent is usually to re-sell the property to recover the unpaid loan amount.
REO – Means Real Estate Owned, or bank-owned. Buying an REO property can be a great value!
Contact Tara Kelly, RS for more information.
There are currently 28 homes in escrow in Waikoloa Village, 12 are short sale listings, 11 are Bank Owned (REO) properties and only 5 are regular sales. Asking prices vary from $199,900 to $475,000.
$40,000 price reduction on this Waikoloa Village short sale (MLS# 234340)
Read entire post →
For many potential first-time and repeat home buyers the term ‘short sale’ is commonly used, but rarely explained. In a nutshell, when a lender accepts a payoff amount of less than what is currently owed on a property, this is called a short sale.
Potential Kaanapali Short Sale Property
Maui Short Sale Example
Let’s say that Joe is at risk of defaulting on his Kihei home on which he owes $400K, but Joe’s home is currently valued at $300K. The lender, Bank of Sunny Hawaii, can accept an offer for $300K and write off the loss.
Why would a lender/lienholder be willing to accept less than what is owed? Well, there is a old adage in investing, “Your first loss is your best loss”. By accepting less now, the lender reduces the legal expenses of foreclosure proceedings and the risks of the property not selling quickly, which is of particular concern in a declining or volatile market. Read entire post →
Here we are at the beginning of a new era with the number of Maui short sale listings on the rise—an increase of 337% in the first quarter of 2010 comparted to last year.
Thankfully help is on its way in the form of short sales to support homeowners in their own economic cataclysm and unable to pay their mortgage. For homeowners who want to know, but are afraid to ask about utilizing the benefits of short sales, here are the new HAFA (Home Affordable Foreclosure Alternatives) Program highlights: support, protection, and even cash to relocate. Read entire post →
Looking for that great deal in Kaanapali?
Great pool and outdoor living area
This beautiful home (MLS# 343117) has an outdoor pool and a great price. Better yet, the price has just been reduced and the sellers are looking for offers. Read entire post →
REOs, shortsales, and sellers aware of the prices that today’s buyers demand are bringing down prices at Waikoloa Village into the $300,000 range.
Sales at Waikoloa Village averaged at $314,725 last month, bringing figures back in line with the average in the first quarter of 2010, but down quite a bit from March’s average of $400,000. At only four sales, the number of closings was also down slightly from previous months’ average of 5 sales per month.
This Waikoloa Village home was sold even before coming onto the market. Read entire post →
Posted by Kevin Spaise, RS on May 17th, 2010 |
Tags: Beachfront, Condos, Deals, For Sale, Hoolei, Kai Malu, Kanani Wailea, Maui, Papali, Short Sales, The Grand Champions, Wailea, Wailea Beach Villas, Wailea Elua Village, Wailea Point
That Wailea epitomizes tropical elegance in a way that few beach communities in the world can match may be self-evident to visitors of the luxurious South Maui resort enclave: to many, the surprise comes in the diversity of its condominium properties.
Wailea’s spectacular beaches are among the best in the world. The resort community’s abundant golf, tennis, hiking, and trails cater to an outdoor lifestyle enjoyed by its mix of part- and full-time residents.
These current listings—ranging from an 1,100 sf, 2-bedroom at the Grand Champions (MLS# 341122), listed at $489,000, to the pinnacle property at the beachfront Wailea Point (MLS# 339893), $10.5 million—embrace the vast range of lifestyle choices available to the Wailea condo owner.
Some are Surprisingly Affordable
16 condos are currently listed under $600,000, all Fee Simple. Most of them are right on one of Wailea’s spectacular golf courses. Read entire post →
