Kauai Real Estate REOs & Foreclosures

Here’s Octobers list of REOs. I will update it as the month progresses. Its hard to say how Hawaii’s Act 137, the Mortgage Rescue Fraud Prevention Act, will effect the Hawaii market. The act designed to protect Hawaii consumers from persons who prey on homeowners who face property foreclosures may actually encourage more foreclosures as real estate agents and brokers are not exempt from the act. Under this act real estate agents & brokers can not have their actions be that of a “Distressed Property Consultant” unless they are willing to take the liability & limitations in pay that is mandated under this act. One of the results will be fewer agents will be willing to be involved in a short sale situation where prior to the act agents were very involved with Bank negotiations. Although well intentioned a negative effect of Act 137 will be the lack of agents willing to be involved in short sales and more properties may be heading for foreclosure. Contact me if you need more info on Act 137 or other questions about Hawaii foreclosures and REOs.
Aloha Julie Black

New REOs On The Market

Cedar ceiling detail

#1. 5013-D Moa Road, The house plans have this as a 3/2 but 1 bedroom and 1 bath is not framed/plumbed in. Partially completed house in Kapaa on a lot of 10059 sq.ft. Kapaa MLS#216449 $300,000.
#2. 1653 Elika Place, 3 bedroom 2 bath. $407,500. Already in escrow. Kapaa
#3. 1730 Puu Kaa, 3/2 Kapaa. MLS#216539 $334,900. Wells Fargo REO. You must prequalify with them to submit an offer. 10/8/08-in escrow
#4. 276 Makani Rd, Wailua Houselots. A large lot of 15090 sq.ft. with 2 dwellings of multiple bedrooms, bath rooms and rentals. MLS#216350. $499,900.

Price reductions:
#1. 4031-(off Koloa Rd) aka 4062 Blackstad Rd, Koloa. 2 homes and a cottage on 1.28 acres in Lawai. MLS#213597 Fixer reduced to $669,900. 10/9/08 Reduced to $629,900
Interior of Keneke
#2. 2469 Keneke St, Kilauea 4 bedroom 2 bath 3080 sq.ft. home. MLS#211611 Reduced to $564,500.
#3. 4588 Kui Lei St., Lawai. 3 bedroom 2 bath home on a lot of 9437 sq.ft. MLS#215332 Reduced to $408,905.
#4. Hale Lani Village P106 2/1 condo MLS#213537. Reduced to $179,900

Still Available:
#1. 6340 Kaahele St, Wailua Homesteads, 3 bedroom 2 bath home on a lot of 8785 sq.ft. MLS#214615 $429,977. Update-10/08/2008 Reduced to $399,900.

Upcoming:
#1. 5796 Noni St, Wailua Homesteads with Julie Black
#2 148 A & B Royal Drive, Wailua Homesteads.
#3. Kauai Beach Resort unit #1331. AKA the Hilton ocean views. with Julie Black
#3. 2242 Ioela, Kilauea
#4. Princeville home with Countrywide

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