From: http://www.starbulletin.com/business/20091015_maui_leads_in_foreclosures.html
"Maui leads in foreclosures"
RealtyTrac ranks Hawaii 15th among states for overall foreclosure activity
By Allison Schaefers Oct 15, 2009
Maui's foreclosure rate surpassed the national level in September and activity on Maui and Kauai overtook the nation during the third quarter, according to data released today from RealtyTrac...
On a quarterly basis, Hawaii's foreclosure rate was one in every 185 households, which compared favorably to a national rate of one per every 136 households, Blomquist said. Nonetheless, foreclosure rates on Maui, which rose to one per every 111 households, and on Kauai, which rose to one in every 85 households, raised alarm, he said...
One of the reasons for the gain could be Hawaii's high percentage of second-home, resort and investment activity, Blomquist said. As many as 46 percent of all Hawaii foreclosures through April, the most recent measure, were at non-owner-occupied properties, he said...
Also from a new RealtyTrac Foreclosure Newsletter out today by Teresa Meek, RA:
"New: Instantly Identify Foreclosures Listed For Sale"
By RealtyTrac Staff
RealtyTrac’s newly expanded MLS feed of over 1 million properties for sale, matched against 1.9 million foreclosure properties, gives members the ultimate advantage for purchasing a foreclosure bargain. Complete Story
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1 comments:
Got this interesting comment:
Brad,
I think to be fair to your readers, it should be pointed out that the rates of foreclosure, called out in this article, are very much distorted by the large majority of the listing being Hilton rooms, at Kauai Beach Road. These were sold at the top of the market and now it appears many of the buyers are walking away as the resale values plunge.
David
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