Foreclosures Continue to Dominate the News Headlines
The July numbers from RealtyTrac were released to the public this week and once again the major news media is filled with stories about more home owners in the process of losing their home. That’s one the reasons we’re launching our free seminar series, The Truth About Short Sales. The government continues to put pressure on the banks and lenders to stem the tide of foreclosures. Is is working? All statistics point to NO. Our seminars are going to provide vital information for local property owners in terms of alternatives to the foreclosure process. THERE ARE OTHER OPTIONS.
We invite you to register for our seminar and learn all you can if this situation applies to you or someone you know. Read from the following respected sources the various reports about the latest foreclosure number. The islands foreclosure numbers continue to arise also. Foreclosures even made the front page of our Garden Island Newspaper this past Sunday.
- Foreclosure Filings Jump in July – Washington Post
- US Foreclosure Activity Hits News Records – US Business Journal
- U.S. Foreclosure Activity Increases 7 percent in July
- Foreclosure Filings up in July – Housingwire.com
Additionally, the Kauai market continues to adjust and many families and individuals who have been renting on the island are finding that property is becoming more affordable. Couple the affordability factor with 1st time home buyer’s credit and historically low interest rates, and this may indeed be the optimum time to purchase a property. Short sale or foreclosed properties may provide an excellent opportunity for buyers, but, those buyers need representation from a skilled real estate agent that understands the intricacies of a short sale purchase. A buyer needs to have realistic expectations and an understanding of how the short sale process works.
Sometimes, as a buyer’s agent, I am asked to get more information about pending foreclosures or even attend a foreclosure auction at the courthouse in Lihue. One useful tool is to make a personalized video about that property that assists a buyer in seeing more about the neighborhood, the plus and the minuses, so buyers can get a feel for it. It’s also important to have someone to perform the due diligence to ascertain the likelihood of success if one is pursuing a short sale.
Here’ s a video i sent to a client last week who is in the process of moving back to the island: