Maui and all over the mainland has seen a lot of foreclosures and even with this harsh environment the lower prices of these homes has attracted new buyers and seasoned investors alike to the Maui Real Estate Market..
As Realtors we keep our objectivity in making these deals available to you .
The team of the Fine Island Properties at Keller Williams Maui is ready to help you navigate the Maui Real Estate Market.
There are, 56 Active Single Family Foreclosed Homes available(Maui REO) for sale on Maui.
There have been quite a few foreclosed properties on Maui in 2010
187 Foreclosed Single Family Properties were SOLD on Maui on Maui last year totaling $75.5 Million in sales.
We have seen a decrease in the available foreclosed properties from 2009.
In the condominium data base there are 37 Available REO's Condos on Maui currently.
Last Year 176 REO condos Sold on Maui Totaling $37.4 Million in sales.
Short sales on Maui !
There are currently 74 Single Families Properties Available on Maui for sale as a short sale !
Last year (2010) 110 Properties Totaling $56.4 Million Sold as short sales on Maui.
Short Sales vs Foreclosure.
Sellers are Choosing Short Sales over Foreclosures for a Number of obvious reasons.
Credit score, credit history,security clearances,current employment,deficiency judgements are affected more by a Foreclosure than a Short Sale.
Short sales on Maui !
There are currently 74 Single Families Properties Available on Maui for sale as a short sale !
Last year (2010) 110 Properties Totaling $56.4 Million Sold as short sales on Maui.
Short Sales vs Foreclosure.
Sellers are Choosing Short Sales over Foreclosures for a Number of obvious reasons.
Credit score, credit history,security clearances,current employment,deficiency judgements are affected more by a Foreclosure than a Short Sale.
There are a few questions to ask yourself when buying a foreclosed condominium Property.
Is it a good Value in relationship to the C.M.A (Comparative Market Analysis) of the property.
Is the condominium Association in good financial standing ?
What are the maintenance Dues ?
Will they increase this year ?
Are there any assessment projections for the condominium complex?
How many delinquencies of the maintenance dues are there within the complex ?
Foreclosure” is the process by which lender(s)/lien holder(s) take possession of a property as a result of the current owner’s failure to make mortgage payments over a certain period of time. Specific procedures render termination of mortgagor’s equitable right of redemption. This process could take years if contested, and not all states share the same laws and procedures regarding foreclosures.
“Short Sale” is the sale of real estate property for less than the current mortgage owed to the lender/lien holder, hence the term, selling it short. Short sales often occur when a hardship arises and the borrower cannot pay their mortgage loan. This process is NOT for the fainthearted nor lackadaisical, as the road is paved with a myriad of paper work, research, and negotiations. However, this is by far a more humane road for sellers to travel, and usually yields a quicker recovery on their credit report.
To answer these questions and your other concerns...
Contact Donna Marie Wilson at 808 344-0055 or Reggie Audant at 808 870 4015 and we will be happy to help you find the answers to these questions.
3maui.com
fineislandproperties.com
Foreclosure” is the process by which lender(s)/lien holder(s) take possession of a property as a result of the current owner’s failure to make mortgage payments over a certain period of time. Specific procedures render termination of mortgagor’s equitable right of redemption. This process could take years if contested, and not all states share the same laws and procedures regarding foreclosures.
“Short Sale” is the sale of real estate property for less than the current mortgage owed to the lender/lien holder, hence the term, selling it short. Short sales often occur when a hardship arises and the borrower cannot pay their mortgage loan. This process is NOT for the fainthearted nor lackadaisical, as the road is paved with a myriad of paper work, research, and negotiations. However, this is by far a more humane road for sellers to travel, and usually yields a quicker recovery on their credit report.
To answer these questions and your other concerns...
Contact Donna Marie Wilson at 808 344-0055 or Reggie Audant at 808 870 4015 and we will be happy to help you find the answers to these questions.
3maui.com
fineislandproperties.com
