Oahu , Hawaii Short Sale and REO Opportunities

Some Buyers say: "Forget the short sale unless you have lot's of time to wait for the bank to respond to your offer .

Many realtors won't touch Short Sales since deals typically take a long time to close, and commissions tend to be minimal.

In some cases Hawaii Short sales are a great way to go for the patient and determined.
Be careful: Some short sales are priced higher because the seller has junior lien holders who won't sign off on the deal unless they're paid something. Some times Hawaii foreclosures are priced higher than equivalent short sales because the bank needs to recover costs for upkeep..

I can help you by providing a comparative market analysis that shows sales of similar homes.
Our web site has a way to search for Hawaii Short Sale, Foreclosure and REO and see sold information one year back; see list of Open Houses, just contact me 808-224-7274 and I will help you to navigate.

Even though prices have come down, inventory is starting to disappear . If you are looking for something under $625,000, there's just not a lot of inventory on resale market . Hawaii , Oahu might be a distressed market, but shortly you start looking for a “deal”
you will find that finding available inventory on Oahu is more challenging than you might think..

I am familiar with many popular new projects around Oahu. I will be glad to point out in the right direction. I have close relationship with developers and they inform me if they have a “hot deal’ that they need to close fast.. So let me know when you will be coming to Oahu and Let me take you around to see projects.

In 2009 Ewa Beach led Oahu in 2009 with the most foreclosures with 636 in 2009, Waikiki was 2nd with 538 and Kapolei was 3rd with 364.

Allison Schaefers at Start Bulletin Jan 24, 2010 wrote an interesting article about some of the pitfalls of dealing with short-sales. As it said if you want to get more real estate for you money Ewa Beach is the place to look. However early 2010 more than 42 percent of Ewa Beach's active listings are short sales or foreclosures, and prices have dropped about 30 percent from the height of the last up cycle. All those new homes that were going for $450,000 to $500,000 10 years ago are now going for $410,000 to $450,000 )Most of Gentry's Montecito Tuscany neighborhood was built and sold in the 2005-to-2006 time frame, Fifty-two out of 101 recent sales in Haseko's Ocean Pointe were short sales or foreclosures)

Many Leeward Oahu buyers paid top dollar for properties during the last cycle and then saw their equity depreciate from global economic downturn and tougher lending standards…Ewa region is popular with military buyers, and many of them are forced to transfer in the midst of the down cycle

The Ewa Region includes Kapolei. This whole area has one of the highest sales rates on the Island. While short-term declines will occur Ewa Beach most likely will fare better in the long term:
The roads have been improved, there is good recreation, the houses are very nice and the setting is in a well-planned-out urban development, 10 min away from Kapolei: Hawaii's fastest growing region. Now, 18 years after groundbreaking, not only is Kapolei the fastest growing area in the state, it is also well on its way to becoming a major urban center. In fact, projections show that by 2025 there will be 7 million square feet of commercial space and 65,000 jobs in the Kapolei region, making it a worthy rival to downtown Honolulu.

http://www.kapolei.com/kapolei_map.cfm

Kapolei Housing Growth
1990 11,722
2005 25,660
2015 41,260
2025 56,710

Even if you are 6 month away from moving I will be glad to share with you the updates and maybe you will find it worth your time to take one extr trip to Hawaii to look for a place around the projects so by time you move you have the place to live and do not wait for the bank approval of a Short Sale

Whether you are thinking of buying, selling or financing real estate, I'd love to hear from you!

Elena Roud 

Your Personal  Oahu Real Estate Consultant for Life!