* Hawaii foreclosure, Bank Sale , Hawaii foreclosure sale , Oahu Hawaii Real Estate

Hawaii state still had one of the nation's lowest foreclosure rates.

One Hawaii Foreclosure Action for every 7,085 households.

That compares with a national rate that rose 47 percent to one foreclosure per 775 households.

Hawaii has never been a very active foreclosure state because demand is too high. 

If a home does go into foreclosure, you are not going to get a bargain even if you are able to buy it.

A nationwide survey shows Hawaii's rate is growing but still lags ; By Allison Schaefers, Star Buliten Vol. 12, Issue 86 - Tuesday, March 27, 20

Despite a continued run-up in home prices and declining sales volumes, Hawaii ranked near the bottom for foreclosures in a recent national survey.

Foreclosures could grow by a third in 2007 as more consumers default on loans and lenders tighten their underwriting standards, according to the latest projections released yesterday by RealtyTrac, the leading online marketplace for foreclosure properties.

But while Hawaii's foreclosure rate has continued growing along with the nation as a whole, foreclosures still have a limited footprint throughout the islands.

Continued price appreciation and strong demand for Hawaii real estate appear to have insulated the Aloha state from developing the foreclosure driving market conditions that many mainland markets are experiencing, said Rick Sharga, marketing director for RealtyTrac.

"Typically when market conditions start to drive foreclosure rates, we'll see a flattening or a depreciation in home prices which doesn't seem to be happening there," Sharga said. "If sales are still strong, that tends to keep properties out of foreclosure."

The forecast for Hawaii's real estate market in 2007 is single-digit price appreciation for both single family homes and condominiums, with a continued decline in sales volume in 2007, said Scott Higashi, executive vice president of sales for Prudential Locations.

"The most obvious comparisons for Hawaii would be California and Florida, but even there market conditions are very different," Sharga said. "There aren't a lot of places where real estate is growing or appreciating."

Hawaii reported 59 foreclosure filings in February, a rate of one foreclosure per every 7,806 households, according to RealtyTrac.

The state's foreclosure activity, which ranked 43rd in RealtyTrac's rankings, decreased nearly 40 percent from the previous month but was up 7.27 percent from February 2006.

"Month-to-month variations need to be taken with a grain of salt," Sharga said. "However, if Hawaii's local economy stays strong and unemployment and interest rates remain low, you should stay below average."

Nationally, foreclosures are up 12 percent year-over-year, according to RealtyTrac.

"Based on our numbers for the first two months of 2007, foreclosure activity is running at a rate that would project to a 33 percent increase over 2006," said James J. Saccacio, chief executive officer of RealtyTrac.

The report showed a national foreclosure rate of one foreclosure filing for every 884 U.S. households during the month.

Nevada, California and Florida posted the top foreclosure rates in the nation along with Georgia, Michigan, Tennessee, Ohio, Texas, Arizona and Indiana.

Isles' foreclosure rate plunges 79 percent

Thursday, January 25, 2007 By Andrew Gomes Honolulu Advertiser Staff Writer

Hawai'i bucked the national trend of rising foreclosures last year with a 79 percent decline in the number of mortgage defaults.

There were 673 Hawai'i properties entering some stage of foreclosure last year in Hawai'i, compared with 3,206 the preceding year, according to Irvine, Calif.-based real-estate research firm RealtyTrac.  The state's drop in foreclosure filings was the largest in the nation, the report said. Only 12 states had decreases. The national average, meanwhile, increased by 42 percent. Abundant jobs, rising incomes and a healthy real estate market helped keep foreclosures low, said Leroy Laney, a Hawai'i Pacific University economics professor. Hawai'i had the 42nd lowest foreclosure rate among states, with one foreclosure for every 684 households. The national average was one foreclosure per 92 households. Colorado had the worst rate with one foreclosure per 33 households. READ MORE

Properties are sometimes listed as "foreclosure" properties but really are not technically "foreclosures."  Rather these are properties bought back by bank at foreclosure auctions.  The bank then lists these properties (on MLS) with a real estate firm and pays the standard commission to Buyer's real estate firm.  There properties are usually in poor condition and sold as-is.  Not too many foreclosure properties at this time due to strong market conditions.   Buyers will find that in Hawaii, that these type of stories are not a common occurence and a lot is due to the higher prices in Hawaii than in other parts of the US.

You may start your search for Hawaii, Oahu Real Estate by using our Hawaii Home Finder service. We will email you details of all homes that meet your requirements. When you work with Prudential Agent you are assured that you are working with a qualified real estate professional who understands today's market and is committed to fulfilling your dreams.

For more listings and details not available to the general public,  register for BrokersMLS dotay!!!

* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *

Why Buyers Should Use a Real Estate Professional ?

A sales professional can familiarize you with the processes involved in buying a home, alert you to potential risks, help you determine how much house you can afford, explain alternative financing strategies, as well as provide tremendous moral support.  

Technology has definitely changed the way we live and work. And it's no different for real estate. Twenty years ago, only real estate professionals had access to home listings. Today, there are multiple resources at consumers' disposal. The Internet has become a popular tool for homebuyers to peruse the listings in any city or state. According to the 2003 National Association of REALTORS® Profile of Home Buyers and Sellers, 71 percent of homebuyers used the Internet in their search for a home during the first quarter of 2003.

 Besides home searches, consumers can find information about communities, schools, mortgage options, and even property appraisals. With this wealth of information, should you still have a real estate professional represent you during your homebuying process? Absolutely.

Given the sizeable monetary outlay—possibly the single largest financial transaction in a person’s lifetime—it seems reasonable, even smart, to call in a specialist.

While in the past, consumers may have seen real estate professionals as simply a person who drives you around from property to property, our role is definitely greater than that. That's only the tip of the iceberg.

Ask yourself, who better to know the exact whereabouts of that 50-mile view, 100-foot waterfall, or new in-town condominium project? A sales professional can be a great resource, especially to homebuyers relocating from other communities. He or she knows the local area including home values, taxes, utility costs, and school data, and may even be knowledgeable about resources pertaining to your special interests or needs. For instance, should you require help relocating an aging parent with you, your real estate professional may be able to direct you to local services or organizations for the elderly.

Another benefit is having a strong advocate during the negotiating process. A sales professional can help you objectively evaluate an offer then work to negotiate a favorable contract. During the process, he or she will review the contract and obligations before you sign, explain how contingencies and release clauses work, and so on.

And something easy to overlook is our familiarity with the complexity and risks inherent in the process.  In the years I have been practicing I have been continually amazed at how quickly a seemingly simple transaction can grow legally complex and risky. For example there may not be a legal right-of-way to the property, or just as bad, others may have an easement over the land you’re contemplating acquiring. When such questions arise, we will quickly advise you to consult an attorney and other licensed professionals whose services you may require, such as home inspectors, engineers, surveyors and lenders. 

If you preffer to work with native speaking agent I can reffer you to the other reliable Prudential Agent (at Prudential we have agents who are fluent in Japanese, Chinese, Korean, Russian languages and others). Please feel free to search our Oahu, Hawaii Real Estate web site for all Oahu Real Estate Information, Homes for sale on Oahu, Condos for sale in Oahu, Honolulu Luxury new condos, new projecs, construction and developments, land for sale on Oahu and everything you wanted to know about Oahu Beautiful Places, Beaches, Waterfalls, Gardens, Hiking trails,Ocean life.

As your single point of contact, a sales professional can manage the entire transaction including coordinating inspections, keeping in touch with the other real estate professionals, managing the documentation for the loan process, monitoring deadlines associated with contingencies, providing applicable paperwork, estimating closing costs, and helping prepare for a smooth and uneventful closing.  If you’re about to begin the process of buying or selling a home, consider involving a real estate professional. When the stakes are high, it’s comforting to have a specialist by your side.

Whether you are thinking of buying, selling or financing real estate,
I'd love to hear from you!

Elena Roud 

Your Personal  Oahu Real Estate Consultant for Life!

Visit our link partner: Las Vegas Real Estate ; Alaska Homes for Sale