Bank Owned Properties and Bank Owned Homes on Oahu seem to be dropping in numbers. There was a period that one Short Sale in a neighborhood would drastically reduce the value of the nearby homes because of it's reduced sale amount. For a period, many homes that came on the market used the sale price of the last Short Sale property that closed to help set their List Price. What this meant to buyers was, for the most part, Short Sales were not representing the big value they once did.
As the Island's Real Estate Market has settled down, we are seeing values on the rise again. With the lower amount of Bank Owned Properties or "REOs" on the market, we are seeing more of a gap between the sold price of near by Short Sale and REO homes and homes that were a conventional sale. This can be good news to buyers of Bank Owned Properties and Bank Owned Homes.
It is still a little like the Wild Wild West for buyers of Bank Owned Homes because there is very little negotiating with the banks. They approve their price that they will sell it for and it pretty much takes an act of the All Mighty to get them to lower it for a buyer that had written the approved offer.
The really great news for buyers of these Bank Owned Homes is that there are still some, not all, very good deals to be had by buying one and dealing with all of the..."Stuff"...the bank throws at you.
Gayle and I are Short Sale and REO experts. We know what the banks will expect and will give up in one of these transactions. That means we can get YOU into one of these homes with as little stress to you as possible. You will know what to expect as we move through the transaction.
Here is a list of REO and Short Sale Links for all around Oahu. They will take you to our Real Time Property Search that has been preset for you. Happy House Hunting!
Hawaii Kai to Mililani (Honolulu)
Ewa Beach, Kapolei and Makakilo
The West Side (Waianae, Nanakuli, Maile)
Windward to The North Shore and Central Oahu (Waimanalo, Kailua, Kaneohe to Waialua)
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