kauai short sales: Kauai Foreclosure Update end of October - 11/04/10 04:11 AM
Kauai Foreclosure Update for the week of October 24th – 31st
Last week on Kauai, 4 properties were reverted back to the lender on the courthouse steps. 3 auctions were canceled and SIXTY auctions were postponed. Is this a reflection of some of the foreclosure freeze news? One can only guess, but perhaps. 11 new listings are distressed properties. Nine of them are REOs, and two of them are short sales. 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 man One … (0 comments)

kauai short sales: Could these HAFA numbers really be true??? - 11/04/10 04:05 AM
I saw an article on the net from last week reporting the HAFA numbers through the Treasury Department. Given the delays on my own HAFA-compliant short sales, the story is not that hard to believe. Here on Kauai, when a homeowner qualifies for HAFA in their primary residence, it seems only logical as their agent to assist them in pursuing this solution. But, it has not been easy.
According to article on Housing Wire, "Lenders completed 342 short sales and deeds-in-lieu of foreclosure through the Treasury's Home Affordable Foreclosure Alternatives program since it began through Sept. 30, according to a report … (4 comments)

kauai short sales: Tricked or Treated - Kauai Home Retention Seminars offers Options - 10/30/10 02:44 PM
Once again I am getting ready to deliver a couple of seminars entitled, "Home Retention 101" for homeowners on Kauai. The sessions are Monday November 1st at 3 p.m. and 7 p.m. at the Courtyard by Marriott in Kapaa (formerly the Aston Kauai Beach at Makaiwa). In the spirit of Halloween I was thinking that Kauai homeowners were TREATED to  an inordinate amount of home appreciation from  2002 til 2007. Prices literally tripled here during that short window of time. However, many homeowners were TRICKED into getting loans that they had no business getting. MOst lenders were not generally in the … (0 comments)

kauai short sales: Home Retention Options for Hawaiian island residents. - 09/21/10 04:20 PM
Here on the small and lush Garden Island, we have two primary types of homeowners. Those foks who live on the island, many of whom were born and raised here. The second type of owner is an absentee owner, those who have their second home or vacation rental properties on Kauai. In the current distressed property market, the members of our community who live here and are having problems with their mortgage or payments are the Kauai residents that need the most care and assistance. Even though one might think that everyone knows about their options and the government programs to … (0 comments)

kauai short sales: Home Retention Options for island residents. - 09/04/10 03:31 AM
A year ago I helped to produce three seminars entitled "Short Sales Demystified". I was working in the short sale space and was looking to provide assistance to local homeowners who may have been in trouble with their mortgages and in risk of foreclosure. I held the sessions hoping to find homeowners in distress. Out of 30 attendees to the events, 29 of them turned out to be buyers.  My takeaway was that the subject of foreclosure was too private and people did not want to come out in public and discuss.Well, that led to the next seven seminars which focused … (0 comments)

kauai short sales: Kauai Foreclosures New Inventory March 2010 - 03/05/10 12:05 AM
The latest two weeks of new listings on Kauai feature something old and something new. Some of these are bank-owned and others are short sales. The short sales often take longer. ODD isn't it? View all Kauai Foreclosures → My new listing of 10.8 acres on Kuamoo Rd. offer a superb opportunity for a developer. Zoned R-2, 2 homes to an acre, this is an opportunity for a smaller subdivision or CPR. Let me know if you need a preliminary map or topo of this property.<!--more--> Kuamoo Rd ($699,000) Kauai Beach Resort short sales are not a new thing, but there … (1 comments)

kauai short sales: How Does the Short Sale Process on Kauai Work Anyway... - 08/25/09 11:11 AM
This diagram below over simplifies the Short Sale Process. It's important to know that any one of these stages can take weeks to occur. The main point of this post is so that you understand the Short Sale Process and temper your expectations with the knowledge that the timeline is pretty much out of your (and everyone else's) control. A great exercise in surrender, that's what I'd say.

One thing to note. With many banks these days, the loan modification department and short sale department are one and the same. This means the these folks are swamped. As one Home … (1 comments)

kauai short sales: Tips for working with short sales from the BUYER's side - how to protect yourself and your buyer! - Follow up Primer for Beginners #1 - 03/09/09 12:43 PM
 
This post is primarily for Realtors. However, there is very good info here for those buyers who wish to purchase short sales. If nothing else, Janie's info will create a solid context of concerns to be aware of...
 
After participating with Broker Bryant in Jennifer Allan's webinar on Short Sales for beginners, I realized there is just wayyyy to much info, even at the most rudimentary level, to go over in a 2 hour class, so here is blog 2 of the promised follow up.
Since working on the buyer side as your first time short sale has seem … (2 comments)

kauai short sales: Kauai South Shore Short Sale Opportunities - (Say that four times fast) - 03/06/09 02:07 AM
Kauai's South Side and the Poipu/Koloa areas are the most popular for vacationers and tourists. Being on the south side, it's generally warmer and sunnier, especially in a long winter like this when it has been colder and rainier than many local folks can remember. As the strongest vacation rental market, the Poipu housing market has been the most resilient. What i mean by that is that prices and values held the longest in Poipu, but as the market has been changing, Poipu has now been adjusting and there are affordable homes and condos in this most desirable area of Kauai.I … (2 comments)

kauai short sales: Lihue Short Sales and Foreclosures besides Kauai Beach Resort - 03/06/09 01:45 AM
When i do a search for short sales and foreclosures I check multiple sources. Our MLS has a new feature in the software that was updated on February 7th. I can click on a box marked short sale, or REO, or foreclosure and find the properties that meet these criteria. Problem is, most realtors don't seem to know it's there and how to use it. So, I use several foreclosure databases like RealtyTrac to monitor the pre-foreclosure and foreclosures. When i search for Lihue, our main town where all the government offices are, and Costco and Home Depot, i find the … (0 comments)

kauai short sales: Latest East Side Short Sales and Foreclosures - Kapaa and Wailua - 03/05/09 07:30 AM
As of this posting, there are 48 properties in the Kapaa-Wailua that are  in short sale or foreclosure. This list is compiled by RealtyTrac, the nation's leading source for foreclosures. This does not include the many sellers who are current in their mortgages but still must seek short sales. If you wish to have a list of the most recent short sale properties in our neck of the woods, drop me an email and I will forward the list to you immediately. You might also find it interesting to download the laws about Foreclosure in Hawaii to gain some insight as … (0 comments)

kauai short sales: Wailua Rise SHORT SALE - Big Home, Big Lot, Little Price - 03/05/09 04:01 AM
This home has not yet listed but I had been speaking to the seller and know that he is hoping for a quick sale. The home is located in Wailua Rise Estates. This is a subdivision of primarily half acre lots that is located about 4 miles up from the main Kuhio HIghway in the general area of the Wailua Homesteads. This is a great location for fulltime residents and is very popular with doctors, nurses, and anyone who works on the east side, from Kapaa to Lihue.This home probably needs some TLC but will be listed at 575K. The home … (0 comments)

kauai short sales: HR 137 - Distressed Property Short Sales - Must Be Careful - 09/23/08 08:53 AM
For the second sales meeting in a row, our brokers spent significant time reviewing Act 137, the new short sale law that went into effect in June of this year. This law, not sure how many states have a law like this, prohibits realtors from acting as "distress property consultants" and tells us what we can and cannot do. We CANNOT negotiate on the clients behalf. This seems so limiting to have prohibited realtors from assisting their clients while lenders, accountants, attorneys and the like can.Do any of you live in a state where realtors are prohibited from helping in this … (0 comments)

kauai short sales: Kauai Short Sale Update - 09/06/08 03:51 AM
Short Sales and Foreclosures continue to be an ongoing part of our market on Kauai though not nearly as severe as many areas of California, Arizona, Florida, etc. Though we have not had many subprime fiascos, some mainland buyers did overextend with their vacation or investment homes, and some local families were prey to being given a loan they probably could not afford and thus, sadly, are losing their homes because the values are now lower than what they owe. Primarily the short sales are at the lower end of the home and condo market.On Kauai only two of the short … (6 comments)

kauai short sales: Kauai Real Estate List of Foreclosure Auction and Pre-Foreclosures - 05/22/08 03:08 AM
The Kauai real estate market is chugging a long with some nice high end escrows closing and some very good values from developers on inventory that has not yet moved. Incentives to buyers and buyers agents help to keep inventory moving. Foreclosures and short sales however are still on the rise. Many people inquire about these types of properties with the notion that they can "steal" something, but, that is pretty unlikely since banks generally hire appraiser and perform a broker price opinion in order to have a pretty fair opinion with regards to the value of a property they are … (3 comments)

 
Ronnie Margolis, Kauai Realtor - CDPE, ABR, RA - On Top of the Aloh (KW Kauai)

Ronnie Margolis

Kauai Realtor - CDPE, ABR, RA - On Top of the Aloh

Kapaa, HI

More about me…

KW Kauai

Address: Email: ron@landinkauai.com

Mobile: (808) 346-7095

Fax: 888-511-0215

Email Me



Listings

Links

Archives

RSS 2.0 Feed for this blog