2011 Hawaii Housing Market

Improving tourism, near record low mortgage rates and lower home and condo prices may be leading Hawaii housing markets right into a recovery, but don’t expect the recovery to send the Islands into a partying frenzy in paradise just yet. Home and condo sales are declining in Oahu in the face of the toughest economy in decades. While locals and vacation property owners hope for a rebound in home prices for the year to develop, a larger … [Read more...]

2010 Hawaii Housing Market

As the second biggest vacation home market in the country right behind Florida, Hawaii has seen major ups and downs in real estate cycles, but it’s mainly been upward until the financial crisis slammed its markets. Fallout from the crash in housing is likely to have a lingering hold on Hawaii. But bargain priced properties will send it into better times. REO homes or foreclosures that have been repossessed by bankers are in short supply in … [Read more...]

Huge Rise in Walkaways

A growing number of homeowners are doing what was once unthinkable – strategically walking away from mortgages, and the trend is showing huge signs of increasing with the approval of academia. A consulting company working for financial institutions, Oliver Wyman estimates that 16% of current foreclosures are of mortgage borrowers intentionally walking away, choosing to pay other debts first and stick it to the bank. Other financial firms … [Read more...]