Up at 4am for Black Friday shopping? Why not put your feet up and ’surf’ Kauai real estate.

Here’s my favorite Top 3 Kauai Real Estate Black Friday Deals:

1. MLS 226132. Reduced INDYMAC REO Lihue home. Dropped out of escrow. Lender reduced price – Listed at $279,900
2. MLS 227869. Princeville Ag plantation style home on over an acre.  Built in 2005.  2 bd / 2.5 ba with 2 car garage. Trust sale – no court confirmation needed. – Listed at $895,000
3. MLS 228946. Not a short sale or foreclosure. Located in Wailula Rise Estates, in the Wailua Homesteads area near the Kauai Hindu Monastary. Concrete block home on 1/2 acre, with open great room and 3 bd / 2 ba. Lot qualifies for an Additional Dwelling Unit (ADU). Room for a pool and 2nd home. Tenant occupied. Much better than shows in current pictures. Listed at $549,000

But wait – there’s more!

• MLS 225936.  REO Banyan Harbor 2 bd / 2 ba condo in Lihue.  Price lowered today to $179,000.

For more information on these listings, what it takes to write an offer or Kauai real estate questions, contact me.

Grab a board to surf more real estate, and Kauai foreclosure updates:

• Kauai REO Market Update 11.26.09
• Kauai Short Sale Market Update 11.26.09
• Kauai REO and Short Sale Listings

Foreclosure, short sale, or a motivated seller? As you look at foreclosure and short sale listings, don’t forget regular properties priced to sell.

Click on the links below for a video walk-through from a recent Princeville broker’s caravan. You decide  – which is the best value?

• 4679 Emmalani Drive REO - $650,000

Click on photo for listing details

• 4240 Wailea Place; new Short Sale Listing – $685,00o

Click on photo for listing details

• 3781 Milimakani Place; motivated seller – $659,000

Click on photo for listing details

Now you’ve seen all three – comment below on where you see the value?

REO single family CPR property in Kalaheo is Back on the Market, after being “under contract” since May.   Great handyman special.

4836A Puuwai Road, Kalaheo – 2 bd / 1 ba, 832 sq ft on 11,842 sq ft lot

Email me for CPR Map

Other Kalaheo REO and Pre-Foreclosure Short Sale Listings:

• Oceanview lot in Kakela Makai Subdivision – Milia St  - $184,900
• 4685 Kuli Road CPR Lot – 20,038 sq ft – $339,000
• Puu Road 2 bd / 1.5 ba home on 2,080 sq ft lot - $299,000
• 3730 Elau Rd – 3 bd /1 ba home on 7,940 sq ft lot – $375,000
• 4063 Oni Place – 3 bd / 2 ba home on 7,678 sq ft lot – $499,000
• 5103 Puuwai Road - 3 bd / 3 ba luxury home with views – $795,000

Short Sale or Foreclosure – which is better? 
In this week’s Short Sales News Flash, the New York Times article, So Many Foreclosures, So Little Logic, shows the huge loss lenders are taking with foreclosures – 64% of the loan balance.

As a Case Study on Short Sales vs. Foreclosure in the Kauai real estate market - let’s talk about this recent REO sale -  2374 Oka Street, Kilauea

Click on photo for more pictures

It was listed as a Short Sale for 440 days (MLS 204967).   List price started at $719,000, and finally dropped to $449,000 3 months before the auction.  This was while realtors were restricted from talking directly to the lenders due to Act 137.  I made multiple offers on this property, as did many agents on the island.  The buyer interest was there – but the price was inappropriate, and the seller was not willing to submit low offers.

As an REO Listing (MLS 224048), it came on the market priced appropriately at $419,900 and went into escrow within 17 days, with a final sales price of $380,000. 

What’s the moral of the story??  Just as noted in the NY Times article, the lien holders ended up with much higher costs, and a lower sales price selling as an REO vs. Short Sale.

But – what does that mean for us?? 

• As a Seller, it’s in your best interest to do a Short Sale vs. a Foreclosure.  Not only can it save your credit, but it’s in the lien holder’s best interest as well.  As your agent, I can work with the lenders to help them understand the market, and the value of offers presented (Act 137 has been modified).
• As a Buyer, don’t get caught up in the hype - be sure your agent is knowledgeable about the distressed property market, and that the value is there.  Not all listings are equal   Some REO listings are great values, some are not.   Properties that have problems that detracted buyers in the first place, can end up as an REO listing.  You must be careful that you don’t buy someone else’s problem…that’s when a discount can be costly!

Coming Soon!!  Foreclosure and Short Sale Investor Webinars!! 
Free online analytic tools for all atteendees (I’m the only agent in Hawaii offering this!).  Be sure to send me your email so you can be included!  www.Call4Susie.com

Recent articles of interest regarding Foreclosures, or bookmark my daily updates at delicious.com/Susanna4Kauai.

• Mortgage Firms Struggle to Re-Do Hard Hit Loans
• Senate Grills Administration Over Progress on Foreclosure Prevention
• More Evidence of a Worsening Foreclosure Crisis
• Is a Shift in Strategy Fighting Foreclosures Ahead?

Kauai Short Sales news video, and related articles.

Coming Soon!! 
Short Sale Investment Webinars!! 
We’ll review 3-4 Short Sale or Foreclosure properties with an web-based investment analytical tool offered exclusively to attendees of my webinars.  Crunch numbers to your heart’s content!!  (ROI, Cash Flow, Equity Gain, etc.)

To make sure you’re on my confidential, exclusive mailing list - register at  www.Call4Susie.com

Top 5 Kauai Short Sale listings with Pools  – yes, the dream of relaxing by the pool in your Kauai home can come true!

No...this isn't me

1. 5103 PuuWai Road – Kalaheo; listed for $795,000
   Stunning ocean and mountain view from this upcountry gorgeous home on over 1/2 acre in the mountains of Kalaheo.  Relax and enjoy the views from the pool, with an adjacent hot tub.   Photos
2. Waipouli Beach Resort C205- Kapaa; listed for $499,000
   Perhaps the best pool on the island (except for the Marriott) – the oceanfront Waipouli Beach Resort offers sand bottom hot tubs, waterslides, lagoons, pool-side bar with entertainment.  This unit has an exterior view (aka, parking lot) – but offers resort, amenity rich living.  Onsite Aveda Spa ready to pamper you.  Photos
3. Nihilani at Princeville Resort #1B – listed for $639,000
   With views of the pool from the unit and many upgrades, this is my favorite of the two short sales at Nihilani.  As a buyers agent, I’ll help you sort out what’s a reasonable offer.  As with all short sale listings, unless otherwise noted, the listing price is not the approved price from the lenders – so we just have to make an offer and see what they say.  The Nihilani townhome complex in the center of Princeville offers comfort, amenities and easy access to the pleasures and treasures of the North Shore.  Photos
4. Regency Huleia #68 – Lihue; listed for $363,000
   Centrally located in Lihue, the Regency Huleia townhome complex (built in 2005) offers easy access to restaurants, movies, shopping, schools and the beach at Kalapaki Bay.  Although small, the pool and club house offer the opportunity to relax or exercise at your leisure.  A/C included with this unit.  Photos
5. Kauai Beach Resort Condo/Tel – Lihue; listed for $49,000
   The least expensive of many short sale and REO listings at Kauai Beach Resort.  The units are a condo/tel (hotel room converted to a condo).  If approved by the lender, at this price – why not??  The pool at the Hilton is one of it’s best features. Contact me for a complete listing of all units, and recent sales.  Photos  Virtual Tour

For fun… visit:

• Unique Swimming Pools of the World
• World’s Most Incredible Hotel Swimming Pools

Be sure to get on my mailing list for upcoming Kauai Short Sale Webinars!!  I’ll be reviewing my “top pick” Kauai Short Sales, using investor analysis tools that will be offered to you free!

What does an 80’s song have to do with real estate?  Not much, really. 

But the past two months I’ve been absent from this blog, due to my Mom’s passing in May – and the lengthy, family chaos that surrounds an unsigned will. 

I just returned from a trip to Nebraska where I was able to take care of all of her things.  As I feel the peace of knowing her love is with me, picking up the pieces of things neglected… this song came to mind…along with memories of huge shoulder pads, crazy hair-do’s, loud colors (ok, I still wear loud colors – just not as much orange) and wearing different wild earrings in each ear. 
(Click on the photo and enjoy!…go ahead and dance – no one’s watching )

Yes.... I'm "Back to Life"

So – what’s going on now? 

The Kauai foreclosure and short sale market is hotter than ever.  During this time, I have two new short sale listings and closed the sale of a home in Princeville that no one thought could be done.  It had been listed as a short sale by another agency for a very long time, and the “word” out in the real estate community was that the banks were not negotiable and a sale would be impossible.  However, with buyers through HawaiiLife, we were able to overcome all obstacles and close the sale in May.

Just Listed!  Two New Short Sale Condo listings in Princeville.

I’ll post additional foreclosure news and statistics in another blog entry – but by all indications…we’re in a “sweet spot” time of the market.  No one can call the peak, or the bottom…but we are in a period of time where luxurious properties are available at distressed prices.  Just how long that will last – no one knows.   But if you want to buy a luxury distressed property, now is the time to be on top of the market, and write offers ( in my opinion..).

But..what am I doing for you??

In order to provide you the best possible service, I continue to invest in my professional education….

• I’m completing my CDPE (Certified Distressed Property Expert) designation giving me additional training on serving the distressed property market, along with opening a national network of resources to go to with questions, etc.
• At the same time, I’m completing myABR (Accredited Buyers Representative) and GRI (Graduate Realty Institute) designations.  The GRI is like an undergraduate degree in residentail real estate.  I’ve been working on this for several years (courses are few and far between on the island).

But what about the properties??? 
In order to help you fully explore the Kauai Short Sale and Foreclosure market…be sure to be on my mailing list for:

• Short Sale Seminars on Kauai – Stay tuned….I will be hosting several Short Sale seminars on Kauai in the coming 6 weeks. 
• Webinars analyzing distressed properties- very soon, I’ll be hosting regular webinars providing detailed financial analysis of my “top pick” of distressed properties in each of the main Kauai market areas.  

Please let me know how I can help you, and be sure to contact me and sign up for my mailing list – I’ll keep you updated. 

To make it easy – receive my blog posts via email.

Kauai Luxury Short Sales Condos – Just listed… two wonderful opportunities to buy into the luxury resort community of Princeville at a distressed value. 

Both are short sales. The lenders are well organized & ready to negotiate!

Bali Hai Views - next to St. Regis Princeville Hotel

• Hale Moi 116 - luxury living at a short sale discount price!  Located near the newly renovated St. Regis Hotel (formerly known as the “Princeville Hotel”), you have luxurious amenities within walking distance to Hideaways Beach with opportunities to snorkel with dolphins and honu (turtles).  The lender has a negotiator assigned, the file is open – and waiting for offers!

Cliffs Resort with Luxurious Amenities

• Cliffs 2205 -  Resort living at an affordable price. Cliffs Resort offers amenity rich living in Princeville. One bedroom, 2nd floor unit is offered as a turnkey fully furnished legal vacation rental, managed by CondoBob. Living room set with high quality sofa bed recently purchased from Otsuka’s. Full bathroom off living area offers privacy when guests visit.The Cliffs Resort presents many on-site amenities, including two tennis courts, a full-size volleyball/badminton court, a half-court basketball court, two shuffleboard courts and a childrens’ playground. A swimming pool, spa for adults, and a putting green with sand trap round out the Cliffs amenities.

For up-to-date listing and short sale information, contact me to be on my mailing list.  Coming soon – Short Sale webinars with analysis of “top pick” Kauai short sale listings from an investment standpoint.

Princeville Luxury Townhome

Coming soon – luxurious 3 bedroom townhome located in the heart of Princeville.  Nihilani’s Makani floor plan offers 3 bedrooms / 2.5 baths in 1,874 sq ft of living space in the heart of Princeville.

• Click here for a preview
• Bookmark the following link for listing udpates
  www.KauaiForeclosureBlog.com

Be ready to make an offer!  This is Fannie Mae owned.  I just successfully negotiated an offer for my buyers with Fannie Mae and have some tips and insights that will help you.   It’s best to be prepared BEFORE it comes on the market!

Buying a foreclosure property can be confusing and frustrating.  Add to that the unique twists and turns that the Kauai real estate market has – and it’s enough to make your hair curl…oops mine is already   To help you navigate the process of purchasing a foreclosure, and know some of the key steps to sucess, I’ve created a Buyers Video outlining the Top 3 Tips to Buying a Kauai Foreclosure:

1. Find an experienced Buyers Agent who you feel comfortable with, then make a commitment to work with them.   My clients usually sign a Buyers Agreement with me so that we are all clear about what our working relationship is, and in that sense – they’ve “hired” me to work for them, even though I’m paid via the seller’s commission.
2. Prepare – Prequalify with a Hawaii lender and provide Proof of Cash Funds.  When you’re negotiating on a foreclosure or short sale, remember it’s a bank reviewing your offer.  They want to see that you’ve taken the time to prequalify – they’ll want another lender’s opinion as to your ability to purchase.  It may sound strange, but your agent should ask you for your Proof of Cash Funds to submit with your offer.  Please feel free to contact me for more information about what this is and why.
3. Be Ready to Act Quickly!  Emotionally this can be the most difficult.  But foreclosure offerings on Kauai are moving quickly.  It’s important that with all the homework you’ve done by working with an agent, staying in touch with the market, prequalifying – that you pace yourselves to be ready to write an offer right away if you see something you like.  What I tell my clients is to remember that “an accepted offer only means you’ve secured the opportunty to buy.”  The ball is then in your court to say YES or NO…. but waiting means someone else will be first in line and at best, we’ll be able to write a back-up offer.

The following video goes over these three points in a little more detail.