As the numbers of foreclosure properties on Kauai continues to escalate, the number of auctions slated for the court house steps in Lihue increases. Last Friday I attended the auctions which are generally held at noon of each day. There were 23 auctions on the slate, and, as is often the case, 20 of the auctions were postponed.
There were three auctions that were held. Two of the auctions were for condos in Poipu on Kauai’s South Shore, and the bank entered bids that were probably beyond the current market value of the properties. But one auction, for a lot in the Kakela Makai subdivision in Kalaheo was truly a bargain. The lot sold for just under $147,000 which may sound like a “lot for a lot” (pun intended) but with massive ocean and sunset views overlooking Poipu and the southern coast of the island, these lots have generally still been selling in the 200s. I can always let you know of the auctions scheduled for a given week if you are looking for something specific.
Another way to get great value for a buyer is in the purchase of either a short sale or REO property. To make things easier for you, I have created the Kauai Foreclosure gallery. This gallery will beÂ updated regularly (more than once a week to be sure) and of course the feed from our MLS system will let you know if the property is still active or contingent. Contingent means that the property is under contract but has some contingencies (like financing or inspections, etc.). You can conveniently forward this Kauai Foreclosure gallery to an associate via the email function at the bottom of the gallery. Hope you enjoy it.