More Great values! Foreclosures increasing
Here is a small sampling of some of the foreclosure auctions coming up in April. Whether you are interested in buying or selling, we can help. We understand short sales AND foreclosures. Do you know the difference? A short sale implies a late payment status with a clean up period of about 2 years. A foreclosure impacts the consumer's credit rating and will impact any credit possibilities for the next 7 to 10 years. Obviously, the short sale is the preferred method in saving one's credit position.
A short sale is the sale of a property in which the proceeds fall short of what the owner still owes on the mortgage. Many lenders will agree to accept the proceeds of a short sale and forgive the rest of what is owed on the mortgage when the owner cannot make the mortgage payments. By accepting a short sale, the lender can avoid a lengthy and costly foreclosure, and the owner is able to pay off the loan for less than what he owes.
When buying a short sale, you need to be patient. It can take 4 to 10 weeks for the bank to respond to your offer. With a foreclosure, the bank already owns the home. It is considered an REO and the transaction is pretty standard. Banks still will try to get market value for the home.
In the table below, the recorded date indicates the date the foreclosure documents (notice of default) were filed with the county recorders office. Call or email with any questions and kindly refer to the property ID number. Mahalo.
|Prop ID||Recorded||Location||SQ. FT.||BR||BA||Auction Date|
|17010445||2/28/08||Plantation at Princeville Unit 422||1318||3||3||April 4, 2008|
|16967044||2/20/08||Puamana at PRinceville -26B||1532||2||2||April 11, 2008|
|17350069||3/18/08||Sandpiper #115 in Princeville||1058||2||2||May 2, 2008|
|17297188||3/14/08||148A Royal Drive - Wailua Homesteads||2927||5||4||April 25,2008|
|17461425||3/3/08||2015 Puu Kaa||778||2||1||April 17,2008|
Ron Margolis, RA, CDPE, ABR Hawaii Life Real Estate Services 808.346.7095 email: email@example.com