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Hawaii Foreclosures – Here for Awhile

The possibility of finding a deal on Hawaii real estate is now on the rise.

Hawaii Statistics

Hawaii ranks 9th in the nation according to www.realtytrac.com & www.bizjournals.com on the number of bank foreclosure actions compared to third quarter 2009. Big Island & Maui County have the largest increases, with more than double on the Big Island, with a whopping 397 last quarter compared to 160 a year ago. Kona is leading the county, with the maximum foreclosure filings, and a 67% increase in foreclosure filings in September – that’s 1,617 properties alone. That’s 1 in every 317 homes.

What Does This Mean?

Those numbers should slide downward as the foreclosures are now under investigation, largely due to the “robo-signing.” However, even with the numbers going down, figures still show a large increase in REO properties that will be on the market for sale. These properties could have a sliding affect on property prices. To me, the possibility of finding a real estate deal is now on the rise.

Living in Paradise

Even with all of these crazy events happening in our lives, we must not forget that we are still living in paradise, and in my opinion, living in Hawaii is the best place to live on earth! Whether it’s visiting the scenic beaches, marlin fishing, scuba diving in the underwater lava tubes, hiking with Pele in Volcanoes National Park, or kayaking Kealakekua Bay, Hawaii is a lifestyle, and now is the time to buy Hawaii real estate.

Contact Tara Kelly, RS for more information (808) 542-6014.

View my favorite Big Island Foreclosures

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