On Feb. 11, 2009, the Pacific Business News reported that Hawaii foreclosures dipped in January. The article stated that “Hawaii ranked 30th in the nation for foreclosures in January, down from 29th in December 2008, according to the latest report from RealtyTrac.”
It continued on to say that the state had 337 foreclosure filings in January, down 32% from December 2008. Source: http://pacific.bizjournals.com/pacific/stories/2009/02/09/daily37.html
With all the news about foreclosures, buyers are e-mailing to ask about the “latest steals.” Well, hate to say it, but on Kauai nothing is a steal, but prices are down. Here’s a brief summary of properties that are REO (real estate owned), currently on the market on Kauai include:
13 Condominiums - asking prices range between $139,000 (for Kauai Beach Resort, 0 bedrooms/1 bath – a hotel room sold as a fee simple condo) and $539,000 for a Plantation at Princeville 3 bedroom/3 bath unit. Locations vary from Poipu and Lihue to Princeville.
10 single-family homes – asking prices range between $265,000 (3 bedroom/1 bath in Kapaa) to $949,900 (oceanfront 2 bedroom/1 bath in Kapaa ). Other locations include homes in Kalaheo, Kilauea and Princeville.
Keep in mind that when a home is an REO (real estate owned), it is sold “as is” and the Bank (i.e. owner) usually requires that the Buyer agrees to an additional addendum and, along with the offer, the Buyer provide a pre-qualification letter from their lender along with proof of cash funds (i.e. for your down payment).
Want the complete list of REO condos on the market? Drop me an e-mail and I’ll send you the list. Want the list of all ten single-family homes? Drop me an e-mail and I’ll send you the details.
Have a great day.
Mahalo
Debra A. Jason, RA, ABR
When paradise is calling you, call me!
Direct: (808) 826 1846, cell (808) 635 8031
Vision Realty All Islands Kauai
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