Kauai Real Estate REOs & Foreclosures

Many Sellers in financial straits have become informed and are now listing and selling their property via a short sale. This is where the lender or Bank agrees to a sales price often less the the amount of the loan on the property. This can be a win win situation for both the bank(as they do not have to spend their time, resources on foreclosure) and the property owner (as a short sale may not be as devastating on a credit report as a foreclosure). However banks may take months to respond to a presented short sale and may not agree. If a buyer has the patience this can be away to purchase a property at current market prices as many home owners on Kauai are not yet willing to drop their prices to the current market levels.

Kauai’s Current REO’S:

Upcoming REOs with Kauai Dreams Realty: Photos are above subject address
#1. Kaahele St, 3/2 home in Wailua Homesteads Kapaa.

#2. Elika Place, 3/2 home in Kapaa.

#3 Moa Road, Unfinished craftsman home in Kapaa

#4. Kakela Makai, Vacant lot with ocean views in Kalaheo.
#5. Mauna Ikena, 2/1 home large lot in Kapahi.
#6. Royal Drive 2 homes on the rim in Wailua Homesteads.
#7. Laipo Road, 3/1 in Kapaa. To be listed shortly.
#8. Blackstad Road, 2 fixxer homes on over an acre in Lawai.

In escrow REOs:
#1. Puamana #26, Princeville listed for $319,900. Cash offer over listed price.
#2. Hale Lani condo Lihue. Listed (with another broker) for $254,900.
#3. Islander on the Beach #168 Listed (with another broker) for $200,000.

REOs still listed with other brokers:
#1. Kauai Beach Villas #2304 reduced to $254,900.
#2. 5309 Kualono St, Kapaa 3/2 home $379,900.
#3. 2469 Keneke St, Kilauea 4/2 home $634,500.

In general I foresee the REO inventory peaking this year for single family homes. Condo REO inventory will probably increase and peak next year especially in the lodging type condos such as Kauai Beach Villas and Islander on the Beach.

You can email me with any questions or inquiries you may have. If you sign up for my email list you will know the prices of any upcoming Kauai Dreams Realty REO before it hits the MLS. Aloha Julie julie@hisemail.net

6/13/08 Update: Puamana 26B is listed at $319,900.
Upcoming 1683 Elika Place, Kapaa. Custom home.

Recent changes in Kauai REO updates are:
#1. Sold on 5/30/08: Villas of Kamalii #35, Princeville for $665,000.
#2. Sold on 6/4/2008: 4243 Waiahi St, Hanamaulu for $369,900.
#3. Listed on 5/21/2008: 2469 Keneke St. 4/2 3080 sq.ft. living area, located across the Kilauea Gym. MLS#211611
#4. In escrow: Halelani Village 3/2 condo for $254,900.
#5. In escrow: Islander on the Beach, Unit #168, 0/1 condo for $200,000.

Not yet listed but available to see now:
#1. Puamana 26B in Princevile. 2/2 condo.
#2. 5261 Laipo Road, 3/1 home in Kapaa.

Photo of Laipo Road
#3. 4062M Blackstad Road, Koloa. 2 fixers on over an acre.

Upcoming:
#1. 1735 Mauna Ikena Road #A, Kapaa
#2. 148 Royal Drive, Wailua Homesteads.

Still available:
#1. MLS#207359 5309 Kualono St, Kapaa. 3/2 Reduced to $389,900.
#2. MLS#209739 Kauai Beach Villas #2304 0/1 Reduced to $269,900.

The Banks are pricing their REOs competitively to sell quickly. However most banks are still behind in selling their foreclosure inventory and I expect more REOs to be available as the year progresses. One way of estimating how many REOs will be coming on the market is by looking at the foreclosures posted by RealtyTrac (www.realtytrac.com). Although I have found this information to be useful it is not 100% accurate and does not encompass 100% of the foreclosures/upcoming REOs on Kauai. For more information on any of the REOs listed here or general questions, feel free to email or contact me. Aloha, Julie julie@hisemail.net