Hawaii Randy's Real Estate Opinions: Foreclosures are Still Low in Hawaii

Foreclosures are Still Low in Hawaii

HawaiiDespite all the doom and gloom reports not only is are the real estate prices in Honolulu County showing the highest increase, foreclosure rates are among the lowest statewide in the nation.

The numbers reported in the local media from a survey in RealtyTrac shows the foreclosure rate in Hawaii ranked 43rd in the country. 

While the foreclosure rate in the country went up 2% from September to October it dropped 3% in Hawaii during the same period of time.

 

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Randy L. Prothero, REALTOR®

Broker-in-Charge, ABR, AHWD, CRB, CRS, e-PRO, GRI, MRP, SFR

eXp Realty

Team Leader - "The Prothero Group"

Randy Prothero is well established as an expert in working with military / VA clients and first time home buyers.  His home seller's (listing) campaign is one of the most aggressive marketing programs in the area.  His luxury home listings sell faster and for more money.

Based out of Mililani, Hawaii. Randy services the island of Oahu (Honolulu County) Performs mediations and ombudsman services for the Board of Realtors.  To improve overall professionalism in his area Randy also offers classes for real estate agents. 

www.HawaiiRandy.comOahu (Honolulu County) Property Search  Hawaii Military Relocations

Comment balloon 18 commentsRandy Prothero • November 29 2007 09:58PM

Comments

Randy, that's pretty awesome. It's better here in Texas than most places, too and I sure wish people would stop watching the national news. Buyers are scared here and there's no reason to be.
Posted by Linda Scanlan (A Fan of AR) over 10 years ago
Hi Randy.  That's really some great news about Hawaii.  Too bad for us here in Georgia where we are at the extreme opposite of Hawaii.  We're always at the top of the foreclosure list.  :(   You guys must be doing something right.
Posted by Venice Harris, Real Estate Agent - Conyers, GA (EXP Realty) over 10 years ago
You know what Randy...I watched the national news two nights ago...and lo and behold....they are saying "nationwide....foreclosures are up".....they need to get a grip and do a media piece that says....and in this state...this county...this neighborhood....because we sure don't see all that gloom stuff here. shucks. get it right, huh?
Posted by Celeste "SALLY" Cheeseman, (RA) AHWD CRS ePRO OAHU HAWAII REAL ESTATE (Century 21 Liberty Homes) over 10 years ago
Nightline is on and really going off on foreclosures in California
Posted by Larry Bettag, Regional Vice-President (Larry Bettag - Cherry Creek Mortgage) over 10 years ago

Randy, for your sake and the sake of your beautiful state, I hope they remain that way.

Now Have a Blessed Day,

John Occhi, Hemet REALTOR®
Mission Grove Realty

Posted by John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate (Mason Real Estate) over 10 years ago

Linda - We have the same dymnamic here.  I have other agents tell me how bad it is.  I question if they are really paying attention.

Venice - Our lenders have better business practices and our unemployment is quite low.

Sally - Even worse the news reports here locally started the foreclosure report with the title stating foreclosures are up.  You had to read the article to find they dropped 3% and that we were among the lowest in the nation.

Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) over 10 years ago

Larry - Their forcelosure rate is insane.

John - As long as our economy remains strong and out lenders continue to act in a professional manner we should remain strong for awhile.

Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) over 10 years ago

Randy, why should it be high there.... all you need are a few coconuts and a small boat.  ;o) <teasing>  Seriously... that is great.  Do you have any reasoning to these numbers in Hawaii?  thanks

jeff belonger
Posted by Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans ( Social Media - Infinity Home Mortgage Company, Inc) over 10 years ago
As Larry says, they have been hitting CA hard about foreclosures. It really is pretty local, at least in my area of CA. Good news for you in paradise, Randy.
Posted by Jeff Dowler, CRS, The Southern California Relocation Dude - Carlsbad (Solutions Real Estate ) over 10 years ago

Jeff B. - Our lenders were a lot more responsible and our economy has been strong.

Jeff D. - I can understand the reason they are getting so much heat.  Considering California has one foreclosure filing out of every 258 households.  In Hawaii the rate is one out of every 3,749 households.  Our local media continually reports how that is up from last year.

Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) over 10 years ago
That does it. I'm moving to Hawaii.  I'm learning to hula so I get my abs back in shape and I'm crashing the set of Lost.
Posted by Chris Griffith, Bonita Springs Listing Agent (Downing-Frye Realty, Bonita Springs, FL) over 10 years ago

Randy,

That's a good thing...that means those lenders lent money to people who really have jobs and their loans were structured realistically.

Posted by Neal Bloom, Realtor CRS-Weston FL Real Estate (eXp Realty) over 10 years ago
Unfortunately the media is stuck on reporting doom and gloom for pretty much every aspect of life. Glad to here Hawaii is doing well. I can't wait to get back there for some R&R.
Posted by John Fariss, Appraiser - Bakersfield, CA (Fariss Appraisal Services) over 10 years ago
Randy, Sure am glad to hear that news!
Posted by Lysa Napolitano over 10 years ago
Sounds like your market will make out OK through all of this "doom and gloom!" Keep selling...and keep telling!
Posted by Gary L. Waters, Broker Owner, Waters Realty of Brevard, LLC, ... a small office, delivering big service! (Waters Realty of Brevard, LLC) over 10 years ago

Chris - You can always visit, if you do not move here.

Neal - Most of them.  We had the knuckleheads too.  Most of the people that are in trouble are from over re-financing.

Lysa - Thank you

Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) over 10 years ago
Gary - Being in a tourism and military economy, we can always turn on a dime.  So far full steam ahead.
Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) over 10 years ago
Andrew - We live in Paradise, how mych trouble could there be?
Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) over 10 years ago

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