As of this posting, there are at least 25 properties in the Kilauea, Princeville, and Hanalei areas that are in short sale or foreclosure. This list is compiled by RealtyTrac, the nation's leading source for foreclosures. This does not include the many sellers who are still current in their mortgages but still must seek short sales. The lists are divided into two types, those in pre-foreclosure where the NOD (notice of default) has been filed with the County of Kauai. Then there are those who already have their auction dates set. Experience tells us that its few and far between that the auctions actually take place on the dates noted in the RealtyTrac database. They are often postponed by the lender for a plethora of reasons.
Many of the Princeville foreclosures are at condo complexes like Kamahana, Mauna Kai, and the newest condo complex, Nihilani, by Brookfield Homes. Nihilani is a very nice complex but many sellers only bought to invest and got caught as the market turned If you wish to have a list of the most recent short sale properties in the North Shore of Kauai, drop me an email and I will forward the list to you immediately. You might also find it interesting to download the laws about Foreclosure in Hawaii to gain some insight as to the how this process may work.
Buyers who can qualify are getting some excellent values, and if you are one of them, you may want to check out the opportunity to own real property on one of the most people places on the planet.
Bali Hai view from this Nihilani Luxury Condo in Foreclosure in Princeville. Owner paid $761,000 for this 3 bedroom unit. Default amount is 609,000.
As of this posting, there are 48 properties in the Kapaa-Wailua that are in short sale or foreclosure. This list is compiled by RealtyTrac, the nation's leading source for foreclosures. This does not include the many sellers who are current in their mortgages but still must seek short sales.
If you wish to have a list of the most recent short sale properties in our neck of the woods, drop me an email and I will forward the list to you immediately. You might also find it interesting to download the laws about Foreclosure in Hawaii to gain some insight as to the how this process may work.
Buyers who can qualify are getting some excellent values, and if you are one of them, you may want to check out the opportunity to own real property on one of the most people places on the planet.
This home has not yet listed but I had been speaking to the seller and know that he is hoping for a quick sale. The home is located in Wailua Rise Estates. This is a subdivision of primarily half acre lots that is located about 4 miles up from the main Kuhio HIghway in the general area of the Wailua Homesteads. This is a great location for fulltime residents and is very popular with doctors, nurses, and anyone who works on the east side, from Kapaa to Lihue.
This home probably needs some TLC but will be listed at 575K. The home has a ohana unit, that is, a separate 1 BR/1 BA unit that is often thought of on the mainland as a "mother-in-law" unit. That's always great for visitors, family, or even, dare i say, a rental tenant, which helps to reduce the cost of ownership.
View the gallery of photos HERE and if you are looking for a good SHORT SALE Opportunity on KAUAI's East Side, this might be the best Kauai Real Estate value for you.
Yes, when Anekona Management bought the Radisson Hotel several years ago, they renovated the place and turned all 350 rooms into Condominiums. The project now functions as the Hilton Kauai Beach Resort and is a successful east side resort. South Pacific is performed in the ballroom every Wednesday night. These units sold from $229,000 to around $500,000 for oceanfront rooms. Well, in this ever-correcting market, one seller needs to get out and they are having a sort of "blow-out" sale which will not last much longer.
Last week an oceanfront unit which was purchased for $491,900 in 2006 was put under contract. It was listed for $99,000. That's almost 80% off the original sales price. This week there are three units still for sale under $99K. The interior units start at $59,000, partial ocean view at $79,000 and two more units at $99,000. These units are NOT short sales.
At these price, it is more than likely that the units will produce a positive cash flow. Last year the oceanfront units netted (after management fees and such) almost 30K and the ocean view units netted 22K. Even with high monthly maintenance fees, with this level of rental income, the units may prove to be ones that "pencil out".
I often have tourists come into my open houses and say, "We're looking for something to pencil out!". I usually tell them, "You're on the wrong island, in fact maybe in the wrong state". Now, with the reduced prices at a couple of our condotel projects, we may finally have something for these tourists.
E-mail me if you wish a list of the units for sale at the Hilton Kauai Beach Resort or the Aston Islander on the Beach.
My wife Gwen and I are headed off to lovely Princeville, on Kauai North Shore to OPEN HOUSE at a couple of Princeville Condos. Gwen will be at Cliff 2202, a nice one bedroom condo located on the second floor in a private area of the large complex which is comprised of FEE SIMPLE owners as well as timeshare owners. It's what I call a blended complex, with two types of owners sharing the same property.FEE SIMPLE owners of Kauai real estate and timeshare owners who come there usually once a year.
Bluff view at the CLIFFS in Princeville
I'll be at Plantation in PRinceville, unit 622.This complex of 68 units built in 2004 has nice amenities including a single car garage.
Working in a vacation destination market, do open house any day of the week. Great way to meet nice folks and they are already on our island so one never knows.
Come see us if you are out and about.
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I utilize the latest technology to offer sellers the most comprehensive and complete marketing solution on the . island. Buyers and Sellers leverage my years of experience in negotiating.
As a fulltime resident of Kauai, I enjoy the aloha lifestyle. Real Estate is a wonderful way for me to share my broad range of business expertise and technical abilities with buyers and sellers from around the world who have discovered Kauai, one of the most beautiful places on earth. Using the same promotional, negotiating and people skills I developed as a business owner, I apply those tools to create value in building long term relationships with buyers and sellers.
As a veteran entrepreneur, I understand the key components of negotiating and creating workability between parties. Whether representing a buyer or seller, my goal is to create a win-win for all parties involved.
As a sales and marketing director in the technology sector for many years, I have a breadth of expertise in promotion, video, and marketing and I leverage the industries' latest tools and trends to keep my strategies on the cutting edge. I syndicate my listings to over 25 real estate portals, and actively promote my listings on craigslist and other community sites where a wide range of people see them.
As a buyer's agent, i serve as an Accredited Buyer's Representative, a title I am proud to hold. I leave no stone unturned when working for a buyer. From searching tirelessly for the perfect property, negotiating the sale, and insuring that every concern is addressed.
I love living on Kauai and am very involved in our local community. As the President Elect of the Rotary Club of Kapa`a, our club supports many community organizations on the East side of Kauai like the Boys and Girls Club of Kapaa, Hale Ho Malu, Friends of Kamalani Playground, to name but a few and is currently involved in water projects in India, Africa and the Phillipines.
I work with our local creative arts organization, the Kauai Concert Association, bringing 9 world class concerts to Kaua`i this season. From classical to contemporary to dance, KCA brings a diverse group of talent to our small island with a mission to educate and inspire children. Each artist does an educational service event and sometimes a master class.
My sports passions are primarily golf and tennis and with two titanium knees, I am very grateful to be engaged in both. Yes, I walk my dog Samson and take him to the dog park, and swim in the ocean down at Lydgate Park, but, you'll often find me playing the links at the Wailua Golf Course or playing doubles on Saturday afternoons at the Wailua Houselots with a great group of local players who enjoy the social scene as well as the competition.
For fun, I work as a drummer in local jazz and funk venues, like Trees Lounge in Kapaa and Stevenson's LIbrary at the Grand Hyatt in Poipu. I play in the Kauai Community College Jazz Big Band, and often volunteer my time with our community theatre groups like, Hawaii Children's Theatre and Kauai Community Players.
While searching for a second home on the Island of Kauai we were referred to Ron Margolis by our local realtor. We contacted Ron by phone from Boulder Colorado and he was quick to E-mail MLS listings of properties that he felt would meet our needs. Ron also happily answered any questions and addressed any of our concerns. Upon our arrival in Kauai, Ron tirelessly showed us endless properties even though at that time Ron was recovering from major surgery. Realizing that we only had three days on island to power shop for a home, Ron would squeeze us in any time of the day or evening even between physical therapy sessions. There was never any pressure, just an enjoyable experience.
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