December 2008 Kauai REO Foreclosure Update

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

December 1, 2008


December 2008 Kauai REO Foreclosure Update

Foreclosure Activity lulled for a little bit and then picked up on Kauai last month. Here is this month’s update with commentary after:

Listed since November updates:

1.2242 Ioela St.,Kilauea, 3 bedroom 2 bath home with enclosed garage studio. Has curb appeal. Originally listed at $493,500 already reduced to $468,900. Photo above.
2.Regency at Huleia. Newer 2 bedroom 2.5 bath town home in Lihue. Granite slab countertop in kitchen, and other upgrades. Pool on project Listed at $415,625.

Still Listed with price updates:

1.Kauai Beach Resort #1331. Ocean view condo at the Kauai Beach Resort (Hilton) REDUCED $185,900. MLS#217159 Chase REO
2. 4031-(off Koloa Rd) aka 4062 Blackstad Rd, Koloa.2 homes and a cottage on 1.28 acres in Lawai. MLS#213597 Fixer $629,900.
3. HaleLani Village at Puhi #Z101. 2 bedroom 2 bath condo for $220,000. Owned by Fannie Mae. MLS#217388
4. Emmalani Court #412, Princeville. 2 bedroom 2 bath condo owned by FannieMae $560,000. MLS#216880
5. 4540 Waiakalua St., Kilauea. This 3 bedoom 2 bath home is located on 2 acres of Fruit bearing trees in the Kilaua Farms subdivision on the north shore. Priced at $729,900 MLS#217182. See previous blog for photos.
6. 5013-D Moa Road, Kapaa. An incompleted craftsman house. See October 2008 blog for photos. $300,000. MLS#216449
7. 276 Makani Road, Wailua House lots. Two dwellings on this property and a lot of illegal units reduced to $449,900. MLS#2163504.
8. 5143 Iolani Pl, Princeville. 3/2 home in Princeville. Owned by Countrywide Reduced to $768,900. MLS#2170175.
9.4588 Kuilei St, Lawai, 3/2 home in Lawai Valley Estates. Reduced to $388,959 MLS#215332
10. 2469 Keneke St, Kilauea 4 bedroom 2 bath 3080 sq.ft. home. MLS#211611 Reduced to $519,500.
11. Islander on the Beach #321. studio oceanview unit. $179,500. MLS#217190
12. 2469 Keneke St, Kilauea, 4 bedroom 2 bath 3080 sq.ft. home. MLS#211611 Reduced to $519,500.

In Escrow:
1. 1730 PuuKaa St, Kapaa, 3/2 home owned by Wells Fargo.
2. 4313 Maka Road, Kalaheo 3/2 bedroom for $421,900. Owned by Countrywide.
3. 1632 Elika Place. 3/2 home in Kapaa.
4. 6340 Kaahele St, Wailua Homesteads. Reduced to $399,900 MLS#214615 This is by far a good deal. Offer pending senior management approval.
5. HaleLani Village P106 at Puhi. 2/1 condo.

Upcoming REOS: Not listed yet.
1. 148 Royal Drive, Wailua Homesteads
2. 5796 Noni Street, Wailua Homesteads
3. 4836A Puuwai Road, Kalaheo
4. 4119 Aheahe Place, Lihue
5. Apopo Hale #5, (Aliali Road) Kapaa
6. Hoolako Street, Lihue.
These homes are not listed yet and may or may not be available for showing. Call or email me for more information

14 REO homes/condos are now listed/available for sale on Kauai. This is the most ever listed on Kauai. Some REOs are priced right and sell quickly. Others take a few price reductions until they hit the right price threshold. Savvy buyers know that banks will often keep reducing their price until that threshold is met. However there are a few lenders who are not reducing their prices as quickly as they should. Some are just misinformed, due to outdated appraisals and some are just unwilling to take such a large hit. However it is not a good strategy to keep on waiting to see how low the banks will go if you are truly interested in a property. There are buyers out there who are buying when the price is right. If you need help in determining if a Kauai property is priced well, feel free to call or email me. Aloha Julie Black

Posted earlier but deleted by mistake.

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CLMHS CRS GRI Realtor/Broker/Owner Kauai Dreams Realty 

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