Julie A. Black CRS, GRI, Realtor

New Listings:

#1. Paniolo #103 Princeville Condo. 1 bedroom 2 bath condo. Price at $260,000. This is a Freddie Mac REO MLS#221121
#2. 5773A Kuamoo Road, Wailua Homesteads. 2 bedroom 1.5 bath home for $225,000. See previous blog for pictures. MLS#221077.

Price Changes:
#1. Emmalani Court #412, Princeville.2 bedroom 2 bath condo in Princeville reduced to $475,000. MLS#219933. Owned by Fannie Mae.
#2. Kamahana #4, Princeville. 2/2 condo reduced to $349,900 MLS 220199 Owned by Countrywide.
#3. Plantation at Princeville 3 bedroom 2 bath condo. Built in 1994. $539,900. MLS#215869
#4. Regency Huleia #21, Lihue. 2 bedroom 2.5 bath condo. Built in 1995. $353,600. MLS# 218226

This week’s REO update is dominated by Princeville condos. Where some residential REOs are a great opportunity for first time home buyers and other home seekers, condos tend to attract investment and second home buyers. These buyers are harder to come by these days with the current state of the national economy. Previous inflated condo prices are now having to be really competitive to sell. Along with lower prices other good news is that some lenders such as Fannie Mae are offering special financing deals are their REOs. Email me at julie@hisemail.net or call me on my cell at 808 652-6174 if you have any questions. You can also go to my web site at www.kauaidreams.com and plug in any MLS number to get more information and photos.

Just listed $225,000. MLS#221077 This is a 2 bedroom 1.5 bath house of approximately 720 sq.ft. on a CPR lot of approximately 4432 sq.ft. Built in 1985 it shares a driveway with the back house. It has a small fenced yard. Formers owners make a make shift Lanai. Kitchen has granite counter tops. The lowest priced house in Wailua Homesteads! Email or call if you have any questions. julie@hisemail.net 808 652-6174. Aloha Julie

NEW:

Kauai Beach Resort #4208 $139,900 MLS#220882. This prime unit in building 4 last sold for $415,000. Owned by Chase.
5086 Napookala Circle, Princville $889,900 MLS#220705. This home has a great location in Princeville, in Sunset Circle. This area of homes has their own clubhouse and swimming pool. However the home is outdated and needs major updating. Owned by Countrywide.

Price Updates:
Islander on the Beach #321. Studio oceanview unit. $145,000. MLS#217190. Owned by CPHL
Islander on the Beach #126. Oceanfront unit. $225,0000. MLS#218530. Owned by CPHL

Upcoming REOs
#1. Laulea St. Eleele, 3 bedroom 1 bath home. In the eviction process.

Off the Market:
2242 Ioela St, Kilauea, 3/2 home for $445,500. MLS#217056. The bank does not have clear title yet.
6424 Kaahele St, Wailua Homesteads 3/2 $399,900. This bank property is partly owned by Ameriquist. Ameriquist has a blanket lien against them in the state of Hawaii which they are fighting. So far any property owned by Ameriquist in the state of Hawaii can not be sold until this lawsuit is settled.

In escrow:
4217A Anahola Road, Anahola. This 3 bedroom 2 bath home needs a lot of cosmetic work but the house “bones” appear to be in good condition. The best part of this house is the location. A block away from the beach and bordering a park. The second best thing is the price. $300,900. Listed with Kauai Dreams Realty. MLS#220016

This weeks update shows a new category of Kauai, Hawaii REO’s or banked owned properties; “Off the Market”. It appears that some foreclosure attorneys are lacking experience and/or are just rushing through the drafting of the foreclosure deeds and making errors. I am now running title reports on all my REO listings as soon as I get them to make sure the title is insurable. If you have any quetions on these REOs or any other property you can give me a call at 808 652-6174 or email me atjulie@hisemail.net

Active listed Kauai, Hawaii REOs: (with all brokers)
Haleilio Puuwai
#1. 5120 Haleilio Rd, Wailua Houselots, 3 bedroom 1.5 bath on a large lot of 16316 sq.ft. $399,900 MLS#220517 NEW
#2. 5027-A Puuwai Road, Kalaheo, 3 bedroom 4 bath home with ocean view. $699,900 MLS#220522 NEW
#3.4217A Anahola Road, Anahola. This 3 bedroom 2 bath home needs a lot of cosmetic work but the house “bones” appear to be in good condition. The best part of this house is the location. A block away from the beach and boardering a park. The second best thing is the price. $329,900. Listed with Kauai Dreams Realty. MLS#220016
#4. Kamahana #4, Princeville. This is a 2 bedroom 2 bath condo in Princeville. Owned by Countrywide. $354,900. MLS#220199
#5. 4910 Aliali Road #5, Kapaa. This is a 3 bedroom 1.5 detached home that is part of Apopo Hale condominium project. $279,000. MLS#219935
#6. Pono Kai #C209 2/2 Oceanfront condo. $529,900 MLS#218983. Owned by Countrywide.
#7. Kuhio Shores #313, Poipu to $594,900 MLS#213644 Owned by Countrywide.
#8.Kauai Beach Resort #1331. Ocean view condo at the Kauai Beach Resort (Hilton) REDUCED $154,900. MLS#217159 Chase REO
#9. HaleLani Village at Puhi #Z101. 2 bedroom 2 bath condo for $198,000. Owned by Fannie Mae. MLS#217388
#10. Emmalani Court #412, Princeville. 2 bedroom 2 bath condo owned by FannieMae $526,900. MLS#216880
#11. 5143 Iolani Pl, Princeville. 3/2 home in Princeville. Owned by Countrywide Reduced to $594,900. MLS#2170175.
#12. 2469 Keneke St, Kilauea 4 bedroom 2 bath 3080 sq.ft. home. MLS#220507 Reduced to $419,500.
#13. Islander on the Beach #321. Studio oceanview unit. $169,500. MLS#217190. Owned by CPHL
#14. Islander on the Beach #126. Oceanfront unit. $240,0000. MLS#218530. Owned by CPHL
#15. 4754 Kalamania Rd #B, Kilauea. 1/1 2.98 acres $634,900 MLS#219109 Fannie Mae/Freddie Mac REO
#16. Regency at Huleia #21 2/2.5 bath Lihue condo. $380,600. MLS#218226
#17 Plantation at Princeville #422 3/3/ condo for $559,900. MLS#218569
#18. 2242 Ioela St, Kilauae, 3/2 home for $445,500. MLS#217056.
#19. 3834 Haulani Place, Princeville. 3/3 2048 sq.ft. home MLS#219148. $674,900 Owned by Countrywide.

Upcoming REO’s with Kauai Dreams Realty:
#1.5322 Kahala St., Kapaa. This 3 bedroom 1 bath home is in good condition. Granite tile countertops, bamboo flooring are just some of its features. This should be listed soon.
#2. Mimilo Road, Kapaa. Hundley Heights area.
#3. Koili Lane, Wailua Homesteads.
#4. 5733 A Kuamoo Road, Wailua. 2 bedroom 2 bath with a small yard.
#5. 4836A Puuwai Road, Kalaheo. 2 bedroom 1 bath home.
#6. 5796 Noni, Wailua Homesteads, Kapaa. 5 bedroom 3 bath home.
#7. Hoolako, Lihue. Nicer home in eviction process.
#8. 148 Royal Drive. over 1 acre on the rim in Wailua w/ two homes.
#9. Kauai Beach Resort #4208 (Hilton) This is the preferred oceanfront building.

Upcoming REO’s with other Brokers:
#1. Lae Road, 3/2 In the eviction process.
#2. Aheahe Place. Lihue. 4 bedroom 3 bath.-Fannie Mae
#3. Paniolo #103, Princeville condo.-Fannie Mae

REO’s (Bank owned Properties) in escrow:
#1. Kawaihau Sports Villas #J201. A 2 bedroom 2 bath condo with loft and lanais. $171,600. MLS#219941.
#2. 4801 Lae Road #4, Kalaheo, This is a 3 bedroom 2 bath home of approximately 1104 sq.ft. living area on a CPR lot of 21870 sq.ft. Some repairs needed but in general a really cute home all for $399,000. MLS#219749 Owned by WaMu.
#3. 4062 Blackstad Road, Lawai AKA 4031-L Off Koloa Road. 2 homes and a cottage on 1.28 acres. These homes need work. REDUCED to $599,900 MLS#213597 Owned by Carrington.
#4. 5013 D Moa Road reduced from $300,000 to $260,000. MLS#216449.
#5. 4540 Waiakalua St., Kilauea reduced to $601,900. MLS#217182. Owned by WAMU
#6. 276 Makani Road, Wailua Houselots to $419,900. MLS#216350 Owned by WAMU
#7 4313 Maka Rd, Kalaheo 3/2 $421,900. Owned by Countrywide
#8. Kaahele St. 3/2 Wailua Homesteads.

Sold REO’s bank owned Kauai Hawaii properties: From 12/1/2008
#1. 213537 T S 97 4-3-3-3-29-26 FS $159,900 Halelani Village At Puhi Ph Ib #P106 651 #P106 2/1 SOLD 12/22/2008 for $136,000 (CNV) DOM 97
#2. 215332 RS S 106 4-2-5-9-77 FS $366,915 4588 Kuilei St 9,437 sqft 1,068 3/2 SOLD 1/9/2009 for $360,000 (CNV) DOM 106
#3. 212729 RS S 86 4-3-7-6-90 FS $403,900 4272 Kailewa St 7,700 sqft 960 3/1.5 SOLD 12/2/2008 for $400,000 (CNV) DOM 86
#4. 216539 RS S 6 4-4-6-35-63 FS $334,900 1730 Pu’u Ka’a St 8,164 sqft 912 3/1.75 SOLD 12/5/2008 for $336,000 (FHA) DOM 6
#5. 216470 RS S 1 4-4-6-36-21 FS $407,500 1683 Elika Pl 8,021 sqft 1,438 3/2 SOLD 1/14/2009 for $408,569 (CASH) DOM 1

There are a lot of price reductions in this months REO Blog. The good thing about REOs is that they are sure to get price reductions if they don’t sell immediately. However dont wait to long if you are intereted in a property or you may be bidding against others. The submitting of an offer is different for Bank REOs than private sellers. Although the offer is written up on a State Purchase Contract it is not submitted to the bank until after the buyers have agreed upon the price and other terms. The listing broker upon receiving an offer for their REO listing submits the offer on the web. Only basic fields are submitted such as name of buyer, price, closing date, cash or loan and proof of cash funds or prequalification loan letter. If there is no proof of cash funds or prequalification letter submitted with the offer, the offer can not be submitted. Other idosyncrasies of REO offers are “per diems”. If for some reason the escrow does not close on time (most likey due to loan processing) the bank charges a per diem usually of about $100.00 a day for extensions. It’s important to understand these idiosyncracies when you put in your offer. For questions on the above properties feel free to email me at julie@hisemail.net or call me on my cell 808-652-6174. Aloha Julie

Newly Listed Kauai REOs:

1.4217A Anahola Road, Anahola. This 3 bedroom 2 bath home needs a lot of cosmetic work but the house “bones” appear to be in good condition. The best part of this house is the location. A block away from the beach and boardering a park. The second best thing is the price. $329,900. The first photo is the park. The property line ends approximately at the large rocks. Listed with Julie Black of Kauai Dreams Realty. MLS#220016

2. Kamahana #4, Princeville. This is a 2 bedroom 2 bath condo of approximately 1145 sq.ft. living area in Princeville. HOA fees $522 a month. Owned by Countrywide. $354,900. MLS#220199

Upcoming REOs with Kauai Dreams Realty:

#1.5322 Kahala St., Kapaa. This 3 bedroom 1 bath home is in good condition. Granite tile countertops, bamboo flooring are just some of its features. This should be listed soon.
#2. Mimilo Road, Kapaa. Hundley Heights area.
#3. Koili Lane, Wailua Homesteads.
#4. 5733 A Kuamoo Road, Wailua. 2 bedroom 2 bath with a small yard.
#5. 4836A Puuwai Road, Kalaheo. 2 bedroom 1 bath home.
#6. 5796 Noni, Wailua Homesteads, Kapaa. 5 bedroom 3 bath home.
#7. Hoolako, Lihue. Nicer home in eviction process.
#8. 148 Royal Drive. over 1 acre on the rim in Wailua w/ two homes.
#9. Kauai Beach Resort #4208 (Hilton) This is the preferred oceanfront building.

Upcoming REOs with other Realtors:
#1. Lae Road, 3/2 In the eviction process.
#2. Aheahe Place. Lihue. 4 bedroom 3 bath.-Fannie Mae
#3. Paniolo #103, Princeville condo.-Fannie Mae

The REOs have increased this month and will probably continue to be steady until around midyear. By that time the banks should be caught up with their Hawaii inventory. Although some of these foreclosures were due to past higher prices most were due to subprime loans, loans people couldn’t afford to take but did due to a variety of reasons. Next week I will again have the full printout of listed Kauai, Hawaii REOs or bank owned properties, including price changes, in escrow and solds. In the meantime email me at julie@hisemail.net for immediate email notification of upcoming to listed REOs with Kauai Dreams Realty. You can also call me with any questions or requests. 808 652-6174. Aloha Julie