Today’s real estate market conditions, with the current multiple buyer choices, historically low interest rates and some of the best pricing in over a decade, should have you asking, “Am I living where I would like to be?”
Are you? If not, why wait?
There are many options out in today’s market, including traditional sales, short sales and Bank REO properties. An “REO” (Real Estate Owned) is a class or property owned by a lender — typically a bank, government agency, or government loan insurer — after an unsuccessful sale at a foreclosure auction.
A foreclosing beneficiary will typically set the opening bid at a foreclosure auction for at least the outstanding loan amount. If there are no bidders that are interested, then the beneficiary will legally repossess the property. As soon as the beneficiary repossesses the property, it is listed on their books as REO and categorized as an asset (non-performing).
One of the current West Maui options is my REO listing within The Villas at Kahana Ridge, Unit 835, which is located in a very quiet, private and children-friendly neighborhood. The vaulted ceilings in this two-bedroom, two-bath condominium
add to the feeling of spaciousness. Did I mention it is also a pet-friendly property? The condo is located in the front row of the property, so you can just relax and experience fantastic deep blue Pacific Ocean and neighbor island views.
Greg Smith, real estate broker at Prudential Maui Realtors, is here to help you with whatever your Maui real estate needs are. I do answer my phone and return calls when the sun is up (except Sunday morning). Give me a call at (808) 357-4782 (cell) or e-mail Greg@4MauiRE.com. The market is turning quickly! Properly priced inventory is being consumed, and prices are starting to steady. Please call today.