2013 Hawaii Housing Market

With the highest median home price of any state, at $522,000, Hawaii’s rebounding real estate market should even out in the near future, according to experts. Financial and property information provider Corelogic predicts Hawaii home prices will rise 3.2 percent between the first quarter of next year and the first quarter of 2014. That ranks the state No. 28 among all states. The value of a home in Hawaii is predicted to rise 3 percent on an … [Read more...]

Dreaming of Paradise in Old Hawaii

It's not easy to find paradise. When Charlene Cowan and her husband Cortney bought Macadamia Meadows Farm more than a decade ago, it wasn't an easy journey. It took 10 years and four deals that fell out of escrow for one reason or another in Hawaii before they were able to locate the right place. But life has changed and the Cowans want to be closer to family on the mainland so it's time to sell their piece of paradise. Housing Predictor … [Read more...]

2012 Hawaii Housing Market

The Hawaii vacation home market is troubled by a double whammy, slower home and condo sales and a drop in the tourist industry in what is likely to be the most critical decline in real estate prices in generations. Home prices are slowly declining in most of Hawaii, once the top destination for vacationers. Maui, Kauai and Hawaii are seeing lower prices for homes. But Kauai is experiencing some pricing gains in the condo market as buyer … [Read more...]

5 States Sustain Half of Foreclosures

By Ryan Jackson Nearly half of all foreclosures in the U.S. were in the five hardest hit states in the nation during June, with California, Florida and Michigan sustaining the highest number of failed mortgages, according to real estate research firm CoreLogic. Texas and Georgia also suffered major losses in terms of foreclosed properties. Combined, the five account for 48.4% of formal lender repossessions. Most of the same states have … [Read more...]

Hardest Hit States Foreclosures Slow

By Ryan Jackson Three of hardest hit states in the U.S. housing downturn have seen foreclosures drop by more than 25% providing a major sign of improvement for the nation's housing market. Formal foreclosures in Nevada, Arizona and Michigan have been reduced at the highest level since the housing crisis started more than five years ago. Nevada experienced a 66% drop in foreclosures in the last year, according to RealtyTrac figures. The drop … [Read more...]

California Expands Hardest Hit Homeowner Aid

By Kevin Chiu As one of the Hardest Hit states in the U.S. in the housing crash, California is expanding its $2 billion program to help homeowners avoid foreclosure. But this increase will be dedicated to helping only second home or vacation homeowners. The proceeds, originally established by the California Housing Finance Agency from proceeds directed by the Treasury Department Hardest Hit fund are intended to keep more homeowners in … [Read more...]

Hawaii Condos Go to Auction

Forty new Hawaii condominiums are being auctioned-off to the highest bidder featuring cozy lanais built to capture the cool cross wind breezes of Hawaii. The Kona Island condos are being auctioned with bids starting as low as $99,000, which would be a major steal for a vacation home in the Aloha State. The two-bedroom, two-bathroom units were originally built in 2007 before the developer fell on hard times in the real estate collapse. The … [Read more...]

Jumbo Mortgage Rates to Feel Little Impact

By Mike Colpitts Loan limits on jumbo mortgages are scheduled to be slashed as a result of changes required in the Housing and Economic Act of 2008. However, the impact is expected to be limited by many lenders. The Federal Housing Administration (FHA) will reduce mortgage limits on loans in the highest metropolitan areas of the U.S. on jumbo loans, while limits will be left unchanged in the over-whelming majority of the country. Jumbo … [Read more...]

Hawaii Passes U.S. Toughest Foreclosure Law

By Kevin Chiu Hawaii lawmakers followed hard hit Nevada to become only the second state in the nation to approve one of the toughest foreclosure consumer aid laws in the U.S., passing the bill as the legislature closed its latest session. Senate Bill 651 is touted as a windfall for consumers, requiring mortgage lenders to conduct mitigation with loan borrowers who feel they are being dealt with unfairly. Roughly 30 legislative proposals … [Read more...]

Home Price Index Shows Six Month Drop

By Mike Colpitts Home prices dropped for six straight months in the U.S., declining by 5.7% on average in January compared to a year earlier, despite the federal governments home buyer tax credit, according to Core Logic. The real estate research firm gathers mortgage data for the lending industry. The drop represented a 1% higher loss in average home values from 2009 levels. The rate was narrowly similar to the Housing Predictor average … [Read more...]