On Oahu, inventory of short sale single family homes is nearly 10 TIMES that over REO inventory and condo short sales are almost 8 TIMES that of REO condo inventory. As of today, there are 18 available single family home REO listings on the market. There are an additional 40 in escrow right now!
Meanwhile there are 207 available short sale homes on the market and an additional 97 homes in escrow. For condos, there are 33 available condo REO listings available and 19 units in escrow. Meanwhile, there are 234 available short sale condos with 106 in escrow. What does this mean?
Many more REO listings will be coming on market on Oahu as short sales don’t go through & you’ll see that they sell much faster than short sales. If you’re looking for a great buy, it’s important to line yourself up with a good buyer’s agent!
Honolulu now middle of the pack for nation’s foreclosures « Hawaii Real Estate Blog
October 28, 2009
[…] Honolulu has been mostly resilient as far as foreclosures go compared to the rest of the mainland U.S. The numbers have been rising lately however. Today’s article in the Star Bulletin shows how we are now in the middle of the pack with nationwide foreclosures. Although nowhere near Las Vegas, etc. the trend is we will have many more foreclosure occurring based on the number of short sales on Oahu. […]
Honolulu now middle of the pack for nation’s foreclosures « Hawaii Real Estate Blog
October 28, 2009
[…] Honolulu has been mostly resilient as far as foreclosures go compared to the rest of the mainland U.S. The numbers have been rising lately however. Today’s article in the Star Bulletin shows how we are now in the middle of the pack with nationwide foreclosures. Although nowhere near Las Vegas, etc. the trend is we will have many more foreclosure occurring based on the number of short sales on Oahu. […]