www.foreclosuresmaui.com
Real Estate activity is utilized as one of the largest economic indicators to provide information based on the consumption of the consumer and a constant on changes of economic trends. As distressed properties, foreclosures and inflation continues on the rise, interest rates continue to hold good daily.
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Current Market July 10, 2008
Current Local News .. .. KHON Channel 2
1 out of 501 homes received notices of service to foreclose, nationwide. Hawaii inflation rate is high and has been increasing over the last 7 years. Oahu population decreased about 1/10 of the population within a year. Less than 1,114 fewer people less resides now on Oahu. Population increased on Maui at 11%, Big Island at 16% and Kauai at 7%.
June 24, 2008
CNN tonight with Larry King Live interviewed Donald Trump while a "live auction" in Bakersfield, California was being broadcast. 1,000,000 foreclosed homes in California is recorded. Donald Trump reinforces his real estate advice by saying "NOW is the TIME to BUY! Banks are making deals."
Nationwide...Information source from Realty Trac, the online market place that shows foreclosure filings, default notices, auction sale notices and bank repossessions were reported on , 649,917 properties in the first quarter 2008, up 23 percent from the previous quarter and up 112 percent from the first quarter of 2008. One in every 194 US households received a foreclosure filing during the quarter.
Current Local News .. .. KHON Channel 2
1 out of 501 homes received notices of service to foreclose, nationwide. Hawaii inflation rate is high and has been increasing over the last 7 years. Oahu population decreased about 1/10 of the population within a year. Less than 1,114 fewer people less resides now on Oahu. Population increased on Maui at 11%, Big Island at 16% and Kauai at 7%.
June 24, 2008
CNN tonight with Larry King Live interviewed Donald Trump while a "live auction" in Bakersfield, California was being broadcast. 1,000,000 foreclosed homes in California is recorded. Donald Trump reinforces his real estate advice by saying "NOW is the TIME to BUY! Banks are making deals."
Nationwide...Information source from Realty Trac, the online market place that shows foreclosure filings, default notices, auction sale notices and bank repossessions were reported on , 649,917 properties in the first quarter 2008, up 23 percent from the previous quarter and up 112 percent from the first quarter of 2008. One in every 194 US households received a foreclosure filing during the quarter.
Market Statistics
Nevada, California, Arizona, Michigan & Florida post top state foreclosure rates. Hawaii Ranks 45
Maui's Market Place
From a year ago to current date:
Residential properties:
103 priced under $500,000, SOLD
15 priced under $400,000, SOLD
The lowest sold $190,000 on April 3, 2008
1981 Kahekili Hwy, Wailuku
Fixer/Upper
These sold properties were not necessarily REO or short sale properties.
There are fixer uppers available priced at
$399,000.
REO's
Real Estate Owned (REO's) are bank owned properties. The lender takes ownership of the property, either through an agreement with the owner during pre-foreclosure and at times at an auction. The lender usually sells the property to recover the unpaid loan amount and other expense. They typically clear the title. The potential bargain is less than a pre-foreclosure. However, it has a secured title.
Real Estate Owned (REO's) are bank owned properties. The lender takes ownership of the property, either through an agreement with the owner during pre-foreclosure and at times at an auction. The lender usually sells the property to recover the unpaid loan amount and other expense. They typically clear the title. The potential bargain is less than a pre-foreclosure. However, it has a secured title.
How to Buy on Maui
Not much people have the luxury of saving a lot of cash, nowadays, however a smart buyer establishes a relationship with a responsible knowledgeable Lender. Being prepared to buy in our current market is the key to financing short sales, pre-foreclosures and REO properties.
A good Lender should know the latest trends and mortgage programs that are available to provide you with a loan you can qualify for.
Currently available is the new FHA Stimulus Loan Program that assists new home buyers with low or "zero money" down payment.
Your credit score is not considered as the qualifying factor. In fact if you have credit problems in collections, bankruptcies or a foreclosure within the past 2 years, this loan probably will help a lending hand. This program may also help those who are struggling with a sub-prime loan.
Once your "BUYING POWER" is determined you need to work with a very reliable and knowledgeable Realtor, that is committed to
service you with a great sense of integrity.
INVESTORS/FIRST TIME HOME BUYERS
Tab on the "How to Purchase" page. This page lists names of responsible knowledgeable Lenders. After pre-qualifying contact us by email or call direct at 870-1877. Then you will be given priority to all new foreclosure listings and properties that you qualify for.
Not much people have the luxury of saving a lot of cash, nowadays, however a smart buyer establishes a relationship with a responsible knowledgeable Lender. Being prepared to buy in our current market is the key to financing short sales, pre-foreclosures and REO properties.
A good Lender should know the latest trends and mortgage programs that are available to provide you with a loan you can qualify for.
Currently available is the new FHA Stimulus Loan Program that assists new home buyers with low or "zero money" down payment.
Your credit score is not considered as the qualifying factor. In fact if you have credit problems in collections, bankruptcies or a foreclosure within the past 2 years, this loan probably will help a lending hand. This program may also help those who are struggling with a sub-prime loan.
Once your "BUYING POWER" is determined you need to work with a very reliable and knowledgeable Realtor, that is committed to
service you with a great sense of integrity.
INVESTORS/FIRST TIME HOME BUYERS
Tab on the "How to Purchase" page. This page lists names of responsible knowledgeable Lenders. After pre-qualifying contact us by email or call direct at 870-1877. Then you will be given priority to all new foreclosure listings and properties that you qualify for.
