maui reo properties: Can you still find Short Sales and Foreclosures on Maui?
- 02/20/13 04:48 AM
Yes you can find REO and Short Sales on Maui. In fact approximately 30% of closings are still Distressed Properties. However it is What you will find that surprises many buyers. Take homes similar to the one pictured above. REO, remodeled (not professioinally), with non permitted issues, bad electrical and plumbing and a dead yard. Did I mention the roof and that is was vacant and vandalized for 3 years prior to the bank wanting almost 400k. I have buyers call me almost daily asking about the "shadow inventory". We do have some, but it is trickling on to the … (0 comments)
It wasn't long ago that buyers could bid on REO properties and offer less than asking and in some cases that may still be true, but most under 400k REO properties on Maui are seeing lots of action. We had a recent listing that was an REO. It was a short sale that was foreclosed on. I recommended a higher price than the previous listing based on comps and that I knew it would be cleaned up a bit prior to marketing. We received an offer the first day … (2 comments)
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