Kauai REO, Kauai Foreclosures, Hawaii November 25, 2013 Update

By
Real Estate Broker/Owner with KAUAI DREAMS REALTY Kauai Real Property Specialist RB-14203

Kauai REO, Kauai Foreclosures, Hawaii November 25, 2013 Update

Kauai REO, Kauai Foreclosures, Hawaii REO, Hawaii Foreclosures. This blog is the update to the November 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 Kauai 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).

Kauai New REO Listings:

1. 4499 Kawailoa St., Kekaha. 4 bedroom 1.5 bath home. $294,000. MLS#268212. Owned by Continental Assets Management.

Kauai REOs Price Reductions:

1.  Kukuiula Residential Subdivision Ph I Lot# 83, Koloa. 13,357 sq ft of land in the Kukuiula Residential Subdivision Ph I. $674,900. MLS# 247168. Owned by M & I FSB. Original sales price on this was $1,075,000 on 5/31/2007.

Kauai REOS in escrow/accepted offer:

1. 4386 Olali St, Hanapepe. 3 bedroom 2 bath home in Port Allen. $365,000 MLS #267874. Owned by Bank of Hawaii.

Sold Kauai REOS:

Kauai REO & Foreclosures One of the many inspection photos I took.

1. 5029 Emmalani Rd. Princeville. 4 bedroom 3 bath home. Sold via auction. $719,361 cash on 11/22/13.

Withdrawn Kauai REOS:

1.  Hale Honu #5A, Princeville, 2 bedroom 1 bath condo. MLS# 266824 $201,500. Owned by US Bank National Association (not Fannie Mae as previously reported)

Upcoming Kauai REOs:

Houses on Kawaihau Rd, Kapaa, Hauaala Rd, Kapaa, Kokeanu Pl, Wailua, & condos at Nihilani, Princeville & Regency at Huleia, Lihue.

 

After having 10-12 offers on it Hale Honu #5A got withdrawn from the market because the bank/investors decided to rent it out instead. Sometimes It’s not easy being an REO broker . Although I was not the listing broker on this property the same situation has happened to me. Upon assignment of the REO we are usually required to check on the REO properties once or  every other week and file an occupancy check. Every 30 to 45 days we have to fill out a Brokers Price Opinion or BPO which involves tedious data entry. We often negotiate on behalf of the bank Cash For Keys in an effort to avoid eviction. We inspect after the tenants leave, get estimates for repairs, supervise repairs all with out any pay until the property sells. When the bank cancels after we do all this work we feel frustrated. Sometimes it is not the current banks fault as the property get transferred to a new “servicer” but it is still frustrating. The property on Emmalani was once assigned to me, but the bank I was working with got bought out by Ocwen and it sold at auction. So thanks for reading my rant. I’m really not a complainer but I did feel for my fellow REO agent who after months (or years) of work received no compensation.

 

All available properties with Kauai 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 julie@hisemail.net with any questions you might have or an appointment to see these properties. Aloha Julie.

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

Kauai REO, Kauai Foreclosures, Hawaii REO, Hawaii Foreclosures. This blog is the November 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)

By: Julie Black

Posted by

CLMHS CRS GRI Realtor/Broker/Owner Kauai Dreams Realty 

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Rainmaker
686,859
Hella Mitschke Rothwell
(831) 626-4000 - Honolulu, HI
Hawaii & California Real Estate Broker

Julie: That's certainly a lot of work that is done without compensation when the listing gets pulled. Unfortunately in this business, we win a few and we lose a few. Hopefully the "wins" outweigh the lost ones.

Nov 25, 2013 08:52 AM #1
Rainmaker
466,162
Mitch Muller - Charlotte NC Real Estate
ProStead Realty Charlotte, NC CRS SRES mitch@prostead.com - Charlotte, NC
Certified Residential Specialist

Julie, Hella is right, happens to all of us but it does even out over the long haul!

Nov 25, 2013 09:00 AM #2
Rainmaker
385,066
Julie A. Black
KAUAI DREAMS REALTY Kauai Real Property Specialist - Kapaa, HI
CLHMS, CRS, GRI, Realtor, Broker

Thanks Hella & Mitch, I know that's what commission is all about but It has been happening a lot more lately, years of work on the property and then it being pulled and then going to auction. It seems most my business now has been traditional real estate. There's not as much REO property.

 

Nov 25, 2013 09:04 AM #3
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Rainmaker
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Julie A. Black

CLHMS, CRS, GRI, Realtor, Broker
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