Kauai REO, Kauai Foreclosures, Hawaii – May 14, 2012 Update

Kauai REO, Kauai Foreclosures, Hawaii REO, Hawaii Foreclosures. This blog is an update to the May 1, 2012 Kauai REO (bank owned property) list.  It is updated weekly or on the 1st of the month and is based on the MLS inventory. (Photos of any property can be seen by taking the MLS number and plugging it into my web site www.kauaidreams.com)

New Listings

1. Hale Honu #10A, Princeville.  3 bedroom, 1.5 bath condo.  Owned by Bank of America.  $237,405. MLS#254430.

Back on the Market 

1. 2964 Aukoi St, Lihue.  3 bedroom, 1 bath home. $249,900. Owned by Freddie Mac. MLS#249800. (this home expired on the MLS but will probably come back on)

In Escrow/Accepted Offers Kauai REO:

1. Islander on the Beach #137.  Studio. interior unit. Owned by Central Pacific Bank.  $79,000. MLS#254023.

Kauai REOs Sold:

1. 5394 Makaloa, Kapaa.  4 bedroom, 3 bath 2 story home. $359,9000. Went to auction MLS#247132. Owned by Bank of America.  Sold 5/11/2012 for $287,425 (CASH)
2. Islander on the Beach #371, Kapaa. Studio condo $79,000. Owned by Finance Factors LTD. MLS #232573. SOLD 5/11/2012 for $75,000 (CASH)
3. Islander On The Beach #150, Kapaa. Studio condo unit. Ocean view, first floor unit. MLS#251618. Owned by Central Pacific Bank. $129,500. SOLD 5/8/2012 for $127,500 (CASH)
4. The Cliffs #2203, Princeville. 1 bedroom 2 bath condo. $215,000. MLS#250122. Owned by American Savings Bank.  SOLD 5/8/2012 for $215,000 (CASH)

Act 48 placed a temporary moratorium on Part I non-judicial foreclosures which prior to the Act was the most common foreclosure method in the state of Hawaii. The general assumption was when Act 48 expired in July of this year  the banks who were wating for the expiration would start foreclosing again. But because House Bill 1875, which passed this month, totally repealled Part I of the non judicial process the dramatic increase offoreclosures and REO inventory after July will not happen. Instead what is happening is the slower steady increase of judicial foreclosures. Not only is this a much slower costlier process but it also has its major disadvantages for the mortgagee/former owner. The advantage to the judicial foreclosure process is that the mortgagee/home owner will automatically have their day in court prior to eviction proceedings. 

I didn’t have any property photos for this blog so I sneaked in a picture of  my daughter Kela an me walking/posing with our dogs on the Kealia path. This is one of the advantages of living on Kauai.

All available properties with MLS numbers can be plugged into my website athttp://www.kauaidreams.com for more info and pictures. Or feel free to call 808 652-6174 or email me at julie@hisemail.net with any questions you might have or an appointment to see these properties. Aloha, Julie

Search all Kauai Homes at www.kauaidreams.com
Search the Kauai MLS at www.kauaidreams.com
Search Kauai Property at www.kauaidreams.com
Search Kauai real estate at www.kauaidreams.com

Kauai REO, Kauai Foreclosures, Hawaii – May 14, 2012 Update Kauai Foreclosures, Kauai, Hawaii Foreclosures. This blog is an update to the May 1, 2012 Kauai REO (bank owned property) list. (Photos of any property can be seen by taking the MLS number and plugging it into my web site www.kauaidreams.com