Creator's Description: Aloha, this gallery contains my favorite Big Island foreclosure and short sale properties available for sale.
10 Million Foreclosures through 2012, according to Realty Trac.com.
Here in Hawaii the moratorium on non-judicial foreclosures signed by Governor Abercrombie in the summer of 2011 will undoubtedly have a domino effect on Hawaii’s housing market, although the signs are not readily apparent yet. Most homeowners today realize even if they receive a modification, their home will still be worth approximately half of the price they paid even with a modification. Many view it to be more economical to stay in their homes as long as possible. The moratorium will also undoubtedly slow the inventory of homes for sale in Hawaii’s market, where the market in other areas of the country may continue to increase as banks continue to foreclose and move the bad loans off their books. If this comes to be, the solvent homeowners may once again control Hawaii’s market. With lending guidelines at a conservative peak there are a couple groups of buyers which have been extremely successful at completing purchases. They are purchasing FNMA owned homes and Cash buyers. 2012 looks like it will be another interesting year for foreclosures.
When a lender forecloses on a property, they are very motivated to sell and often list the property for less than market value. It’s not unusual to have multiple offers on REO listings. Once you find an REO (foreclosure) that you like, it’s important to gather the information about the property quickly and determine whether you would like to make an offer. We are here to assist you in your efforts by providing the best information possible and by answering any questions that you may have. Please let us know how we can help.
Created by: Tara Kelly, R(S), SFR, CSP
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HAWAI'I LIFE
