When i do a search for short sales and foreclosures I check multiple sources. Our MLS has a new feature in the software that was updated on February 7th. I can click on a box marked short sale, or REO, or foreclosure and find the properties that meet these criteria. Problem is, most realtors don't seem to know it's there and how to use it. So, I use several foreclosure databases like RealtyTrac to monitor the pre-foreclosure and foreclosures.
When i search for Lihue, our main town where all the government offices are, and Costco and Home Depot, i find the largest number of foreclosures, over 100. However, most of them are at the Hilton Kauai Beach Resort and the foreclosures are from iStar, the lender whom the developer borrowed from. Out of 350 condotel units, iStar is foreclosing on 140 of them. However, there are more pending foreclosures in this district in other complexes and with single family homes.
If you'd like a list of the pre-foreclosure and foreclosure opportunities in this market, send me an email. I will forward the list of properties to you.
This short sale is right by the river, a great place for boaters, with stunning views of the mountains. Currently listed for 1.399 Million, a great short sale opportunity for a buyer who wants to be by the water in Lihue town, a convenient location for life on Kauai.
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