28% is average on a Maui REO listing

Out of 50 single family homes, not condos sold this year (2009) 13 of those home buyers paid more then list price and 37 of those home buyers paid less then list price.

By my calculations out of these 50 homes there was a 28% price reduction at closing from the original listing price. Interesting enough we’ve read that the banks (REO) will take 40% less then foreclosure price, yet our Maui statistics show us that 28% is the average. Thanks for asking let me know if there is anything else I can do to help you.

Aloha Jeff Griffin 808-280-3442