Aloha!

Well it’s another beautiful day here in paradise.    The real estate market continues to remain active here on the islands.  As in most places here and on the mainland, the majority of the sales activity is in the “distressed market” (ie; forclosures and short sales).   One of the unique things about the Kauai market vs. other areas in the country is that foreclosures  and short sales probably only make up 20-30% of the listings for sale here vs. 50-70% in some areas of the mainland.  They are, however, responsible for the vast majority of current pending contracts and sales.   The flip side to this is that we are seeing the inventory for foreclosures and short sales that are active on the market beginning to dry up.  The really, really, really good deals, no brainers, deal of a lifetime, are getting harder and harder to find.  What does all this mean?  I have quit trying to predict, but my gut tells me  that it is pointing to the bottom or close to it for the real estate market here on Kauai.  As we move the distressed inventory out, we are starting to see more non distressed sales occurring  with the motivated seller who is willing to sell at a discount, but not at a price that would make him have to sell “short”.

Do not fear my friends, I am not saying that there are not or will not be good deals coming.  We still have a long way to go to get this crazy real estate market back on track, but I think we are headed in the right direction.  Below are a few of  the REOs that I think represent a good value here on Kauai.

MLS #

Type

Sub

Own

Status

Taxkey

Tnr

Price

Land Area

Location

Lv. Area

Bd/Ba

Unit

243157

CND

AT

CPR

Active DOM:146

4-2-8-20-35-29

FS

$299,900

Poipu Crater #29

1,094

2/2.00

#29

MLS #

Type

Sub

Own

Status

Taxkey

Tnr

Price

Land Area

Location

Lv. Area

Bd/Ba

Unit

244464

CND

AT

CPR

Active DOM:100

4-4-3-8-1-54

FS

$324,500

Waipouli Beach Resort #C206

823

1/2.00

#C206

MLS #

Type

Sub

Own

Status

Taxkey

Tnr

Price

Land Area

Location

Lv. Area

Bd/Ba

Unit

242917

CND

AT

CPR

Active DOM:140

4-5-4-5-30-6

FS

$199,900

Princeville Mauna Kai #F6

1,280

2/2.00

#F6

MLS #

Type

Sub

Own

Status

Taxkey

Tnr

Price

Land Area

Location

Lv. Area

Bd/Ba

Unit

246173

CND

AT

CPR

Active DOM:37

4-5-4-15-21-47

FS

$225,150

Sandpiper Village I #210

1,173

2/2.01

#210

MLS #

Type

Sub

Own

Status

Taxkey

Tnr

Price

Land Area

Location

Lv. Area

Bd/Ba

Unit

244096

CND

AT

CPR

Contingent DOM:113

4-5-4-5-18-91

FS

$194,500

Puamana #25B

1,298

2/2.00

#25B

MLS #

Type

Sub

Own

Status

Taxkey

Tnr

Price

Land Area

Location

Lv. Area

Bd/Ba

Unit

245847

RES

DT

CPR

Active DOM:48

4-5-2-17-23-5

FS

$1,295,000

7.99 ac

Mamao Komohana #E

2,874

4/3.00

#E