Kauai REO, Kauai Foreclosures, Hawaii September 19, 2011 Update

Kauai REO, Kauai Foreclosures, Hawaii REO, Hawaii Foreclosures. This blog is the update to the September 1, 2011 Kauai REO (bank owned property) list.

Kauai REO New Listing:

1. 1791-B Makaleha Pl, #B Kapaa. 3 bedroom, 4 bath home. $535,000. MLS 248336. Owned by First Hawaiian Bank.

Kauai REO Price Changes:

1. Makahuena #I204, Poipu. 2 bedroom, 2 bath condo. Price reduced to $299,000. MLS 247277. Owned by Bank of America.
2. Islander on the Beach #269, Kapaa. Studio condo. Reduced to $78,000. MLS 238636. Owned by Pacific Rim Bank.
3. Princeville Paniolo #107, Princeville. 1 bedroom, 2 bath condo. Reduced to$174,900. MLS 245604. Owned by GMAC Mortgage.
4. 6050 Halaulani Pl, Kilauea. Spacious (2,724sqft) 3 bedroom, 2 bath newer home on 2.05 acres. Reduced to $1,049,000. MLS 242046. Owned by First Horizon Home Loans.
5. 4521 Mikala Pl, Wainiha. 2 bedroom 1 bath home $226,900. Leasehold. MLS# 239983. Owned by US Bank National Association.

Kauai REOs in Escrow:

1. Waikomo Stream Villas #423, Koloa. 1 bedroom, 1 bath condo. $163,000. MLS 244758. Owned by Freddie Mac.

Kauai REOs Sold:

1. Prince Kuhio #234, Poipu. Studio and 1 bath condo $159,000. MLS #245329. $159,900. Sold on 9/12/2011 for $159,900 (CNV).
2. 4257 Omao Rd, Koloa. 3 bedroom 2 bath home. $384,500. MLS#245324. Owned by Fannie Mae. Sold on 9/9/2011 for $375,000 (CNV).
3. 4740 Mailihuna Rd, Kapaa. 2 bedroom 2bath home $339,900. MLS#244842. Owned by Fannie Mae. Sold on9/15/2011 for $320,500 (CNV).

According to a Pacific Business News Article there was a 75% drop in foreclosure filings from August 2011 compared to August 2010. Well no surprised there since Hawaii law makers put a temporary kabosh on non-judicial foreclosures. The filings are for judicial foreclosures which is a more common practice with local state banks, i.e. Bank of Hawaii, Central Pacific Bank, American Savings. Unfortunately for the mortgagor a judicial foreclosure does not release the mortgagor from the debt due that was not recovered in the sale. Smartly law makers knew enough then to try and mess with the court systems. So REOs will trickle in until the end of the moratorium. However this has encouraged the mortgage companies to work with Hawaii seller’s on short sales.

All available properties with MLS numbers can be plugged into my website at www.kauaidreams.com for more info and pictures. Or feel free to call 808 652-6174 or email me at julie@hisemail.net with any questions you might have or an appointment to see these properties. Aloha Julie

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