Kauai REO, Kauai foreclosures, Hawaii February 11, 2013 Update
Kauai REO, Kauai Foreclosures, Hawaii REO, Hawaii Foreclosures. This blog is the update to the February 1, 2013 Kauai REO (bank owned property) list.It is updated weekly (or twice a month) or on the 1st of the month and is based on the MLS inventory. (Photos of any active property can be seen by taking the MLS number and plugging it into my web site www.kauaidreams.com)
1. Regency Hulelia 101, Lihue. This is a 3 bedroom 2.5 bath condo. $340,000. MLS#260846 Owned by First Hawaiian.
2. Paradise Court A, Lihue. 2 bedroom 2 bath condo in need of some TLC $156,900. MLS#260790. Owned by Fannie Mae.
1. Kauai Beach Resort Unit 2538, Lihue. Studio condo 5th floor ocean view.MLS 260980. Foreclosed on by Central Pacific Bank. Bought at foreclosure for $45,643 plus $5511.00 in back HOA fees. Sold 2/8/13.
The REO market has been slower. I did take the opportunity to try and buy something for myself. I called an IRA company that specializes in holding real property instead of more liquid assets. I saw the foreclosure notice for Kauai Beach Resort 2538 and was the only bidder besides the bank. The court confirmed the sale and my IRA now holds a Kauai Beach Resort unit. Although I have bid before at a foreclosure sale this is the first time I was successful in purchasing. It has been a fun and hopefully profitable experience. Bidding at a judicial foreclosure is a relatively safe process as the foreclosure commissioner does not work for the bank but rather the court. Most commissioners are local attorneys who are helpful in trying to find a non bank bidder. I hope to explain the foreclosure bidding/buying in more detail in future blogs. I also want to discuss having an IRA that holds real property but not yet. I want to learn more about it first.
All available properties with MLS numbers can be plugged into my website at www.kauaidreams.com for more info and pictures. Or feel free to call 808 652-6174 or email me at firstname.lastname@example.org with any questions you might have or an appointment to see these properties. Aloha, Julie.
Kauai REO, Kauai Foreclosures, Hawaii REO, Hawaii Foreclosures. This blog is the update to the January 1, 2013 Kauai REO (bank owned property) list.It is updated weekly (or twice a month) or on the 1st of the month and is based on the MLS inventory. (Photos of any active property can be seen by taking the MLS number and plugging it into my web site www.kauaidreams.com)