Kapaa, HI

August 24 2009 Kauai Foreclosure REO List Update

New Upcoming REO’s:

1. Waipouli Beach Resort A304, Kapaa. Wow this is an oceanfront newer 2 bedroom 2 bath condo in great condition with great views. Previous sales price was $1,750,000. Owned by Bank of America.



2. Kua Aina lot 42. Kakela Makai, Kalaheo. A split level lot with unobstructed ocean & mountain views. Owned by IndyMac Bank.
3. Hale Lani Village at Puhi Y204, Lihue. This is a 2 bedroom 2 bath condo in good condition. The location of this project is across the highway from the college. Owned by GMAC.

New Listings:

1. 5796 Noni St., Wailua Homesteads. This is a 5 bedroom 2 bath home 2 story home. The exterior is in good condition but the interior needs some repair as remodeling was started but not completed. $399,900. Owned by American Home Mortgage Servicing Inc. MLS#226761

Price Changes:

1. Banyan Harbor G-80, Lihue. A 2 bedroom 2 bath fully furnished condo with partial ocean view. New price $224,0000. MLS#22593
2. 4740 Hokuloa Place, Eleele. 3 bedroom 2 bath home for $289,900. Garage has been turned into a family room. Fenced MLS#225781. Owned by American Home Mortgage Servicing.
3. Kauai Beach Resort #2506 307 #2506 0/1 MLS# 223038 $125,000 .Owned by Finance Factors (FF)
4. Kauai Beach Resort #2544 320 #2544 0/1 MLS #223037 $125000. FF
5. Kauai Beach Resort #4110 320 #4110 0/1 MLS #223033 $145000. FF
6. Kauai Beach Resort #4214 360 #4214 0/1 MLS #223035 $150000-offer pending. FF
7. 5086 Napookala Circle, Princville $727,800 MLS#224854. Outdated home has a great location in Princeville, in Sunset Circle. Owned by Countrywide/BoA.

Since many buyers and agents often ask “what bank owns this property?”I am going to try and put the name of the Bank or company that owns each asset. Some banks do not directly sale their assets directly but do it through an asset management company. Some Banks like Wells Fargo requires you obtain a pre qualification letter from them when submitting an offer. This hopefully leads them to new business and assures that the buyer is qualified. American Home Mortgage Servicing Inc. (AHMSI) requiers you obtain a preapproval from Prospect Mortgage when making an offer on one of their properties. With full price offers AHMSI will buy down the interest rate when the buyer uses Prospect Mortgage.

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 or email me at julie@hisemail.net with any questions you might have or an appointment to see these properties. ALOHA JULIE

This post is a weekly update to the July 1, 2009 list. Please scroll down to the 7/1/09 list for a complete list of Kauai Hawaii Foreclosure & REO list.

New Listings:

#1. 229 Koili Ln, Wailua Homesteads. A 3 bedroom 2.5 bath home in need of work as former owner tried remodeling rooms into studios. A great price. $297,500 MLS#225851

#2. Banyan Harbor G-80, Lihue. A 2 bedroom 2 bath fully furnished condo with partial ocean view. $250,0000. MLS#225936
#3. Nihilani at Princeville #14A. This is a 3 bedroom 2.5 newer condo in Princville. $489,900. MLS#225806
#4. 2.78 acres Kulana at Kapaa. $194,900 A low price for this CPR acreage however a large assesment will be due to pay for the roads the developers failed to do. MLS#225885.

Upcoming REO with another Broker:
#1. 5095 Panini Road, Waimea Heights. A 4 bedroom 3 bath home with sweeping ocean views of the west side. A Fannie Mae/ Freddie Mac REO.
#2. 3868 Olona St, Koloa. 3 bedroom 1.5 bath home listed at $349000. MLS# 225954. This home is actually listed but still occupied by the former mortgagors.

More banked own Kauai properties are shaking loose and being listed. Some take time to come on the market due to lenghty eviction processes. Even if the former owner has abandoned the home but some of their possesions remain the Banks usually do a personal property eviction. I am really surprised that the property on Olona Road is listed with the former mortgagors there. According to the listing broker the bank is a hedge fund and not really familiar with the processes in Hawaii. Did you see he article feauturing me and the REO Kauai real estate market in the Kauai PeopleNewspaper? If you missed it you can read it at the newspaper’s link at REOs offer buyers chance at home ownership | HonoluluAdvertiser … It’s fun to be a celebrity for a few days. 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 or email me at julie@hisemail.net with any questions you might have or an appointment to see these properties. ALOHA JULIE