The Kauai real estate market is chugging a long with some nice high end escrows closing and some very good values from developers on inventory that has not yet moved. Incentives to buyers and buyers agents help to keep inventory moving. Foreclosures and short sales however are still on the rise. Many people inquire about these types of properties with the notion that they can "steal" something, but, that is pretty unlikely since banks generally hire appraiser and perform a broker price opinion in order to have a pretty fair opinion with regards to the value of a property they are foreclosing on.
The two lists below contain properties that are currently scheduled for auction and a separate chart for those properties that are in pre-foreclosure. Just because an auction date is set for a property heading for foreclosure, this doe snot mean the auction will actually occur on time. As an example, I attended last Friday's auction at the Lihue Courthouse. One of the auctions was for Wyndham timeshares, and in this case, the developer bought back all the inventory that was being foreclosed on. The other 3 auctions, a home in Hamamaulu, one in Wailua and one in Kalaheo, were all postponed. Two of the parcels were postponed til 7/18 and the other property was postposed unitl 6/20.
If you see a property on either of these lists that interests you, drop me an email or call me, and I'll give you whatever info I can regarding this property. Notice on the 2nd list the property on Niulani St. That is an oceanfront parcel with a small home and zoned open which allows up to a 3,000 sq. ft. footprint. The property was listed for under 1.3 Million and the default is over 1.5 million.
KAUAI PROPERTIES FOR AUCTION
KAUAI PROPERTIES IN PRE-FORECLOSURE
Ron Margolis, RA, CDPE, ABR Hawaii Life Real Estate Services 808.346.7095 email: firstname.lastname@example.org