Kauai, Hawaii- short sales - short sales statistics

So what is happening with short sales in Kauai. Hawaii? They went up in 2011. The number of short sales increased to 108 in 2011 on the island - up by nearly 32%. At the same time, the median sales prices for those short sales fell by $77,875 (20%).

A big factor in the median sales price decline came from the the thirty one (31) short sales at Kauai Beach Resort. The median sales price for those short sales was $37,000 with sale prices ranging from $22,000 to $94,000. Currently there are only 5 Kauai Beach Resort condos offered for sale starting at $39,000. Only one is a short sale.

The most expensive Kauai short sale was a beachfront home on Moloaa Bay that sold for $2,200,000. It is a 5 bedroom/ 3.5 bath home oceanfront home.

Currently there are 81 active short sale listings and 73 contingent sales. Contingent means that the Seller has accepted an offer and the offer has been submitted to the lien holder for approval. Sometimes the line holder (bank) takes so long that the Buyer "walks". Sometimes the lien holder counters the offer with a higher price and the Buyer will not agree to the higher price so the property comes back on the market.

If you are a homeowner and are behind in your mortgage payments, contact me. Even if you have received a foreclosure notice, it is not too late. A short sale can be a better alternative than a foreclosure.