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Short Sales Dominate Waikoloa August 2012 Home Sales

This new listing (MLS# 257470) is a 4 bedroom short sale home listed at $286,200

Waikoloa had a slow down in sales in August with just four sales closing for the month, but an increase in average sales price to $307,500. This follows July sales of 8 homes at an average of $295,875. While most of the July sales were for homes in the $200,000’s, August sales were mainly for homes in the $300,000’s.

Here is a look at August home sales in Waikoloa:

Short Sales Still The Name of the Game in Waikoloa

Waikoloa continues to have a very high percentage of sales in the foreclosure market of either short sale or bank owned REO’s. August sales had 75% of the sales in the short sale category as 3 of 4 sales were short sales. This continues to be the trend in Waikoloa for both homes and condos.

And, this will continue to be the story for several more months in Waikoloa home sales. Homes in escrow in Waikoloa now number 29 properties. What’s the number of short sales and REO’s? Waikoloa homes in escrow has a staggering 25 homes out of the 29 being either a short sale or REO! Clearly buyers in Waikoloa have been after the deals in the housing market.

Sub $300,000 Homes Disappearing

One other trend to note is the current lack of inventory priced below $300,000. In fact, right now there are only two homes priced in the $200,000 range. This is after many months of strong demand in this price range with many homes listed in this range only being on the market for two weeks to a month.

I love the Big Island! Aloha.

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Kathy Awai, R(S)

September 18, 2012

I just wish the banks were more “standardized” in their short sale process. There are also many homes in Waikoloa that have not hit the foreclosure market as yet.

Kathy Awai, R(S)

September 18, 2012

I just wish the banks were more “standardized” in their short sale process. There are also many homes in Waikoloa that have not hit the foreclosure market as yet.

Pat Strausse, RB

September 18, 2012

@Kathy, it is amazing how a short sale with the same bank with one investor behind the loan will have totally different rules than a short sale with another investor at the same bank. Rule #1, there are no rules!

Pat Strausse, RB

September 18, 2012

@Kathy, it is amazing how a short sale with the same bank with one investor behind the loan will have totally different rules than a short sale with another investor at the same bank. Rule #1, there are no rules!

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