Mike Drutar REALTOR (S) e-PRO

We have a lot of data to look into, so let’s dive in.  We’ll start with the December data, then the 4th quarter data, then a look at the year in review and what to expect in 2012. North Kona December There were 32 houses sold compared to 36 last December, and 40 condos sold compared to 34 last year.  That’s a ...

We are seeing fewer distressed properties on the market. Currently there are 2393 active and in escrow listings of houses and condos on the entire island. 349 of those are short sales (14.5%), 66 are pre-foreclosure (2.7%), and 194 are bank owned sales (8.1%). So, distressed sales make up about 25% of the listings. We have had a total of 2058 ...

Aloha, I want to give you the results of the 2nd quarter sales numbers and the July sales numbers.  I’ll also go into some detail about foreclosure sales, short sales, and the home loan modification program.  Hopefully this information will be helpful to you or someone you know. 2nd Quarter DataWe saw a spike in sales ...

Aloha everyone.  The first quarter of this year has been action packed with political, financial, and real estate news.  Foreclosure numbers are at record levels, and expected to continue to grow for the next year; interest rates have been their lowest ever, and look to stay down; and some segments of the local market are showing signs ...

2008 was one of the most challenging years on record for the real estate industry.  As you might imagine, the Hawaii market has suffered along with the rest of the nation.  While we look forward to 2009 with hopeful optimism, now is a good time to reflect on the last year (or two), and see exactly where we are.For the entire Big Island, ...

The Fannie Mae 30-Year Fixed mortgage rates did improve slightly this week to 6.375%, down from 6.5% last Friday. One of the reasons for improving mortgage rates this week is that the initial jobless claims increased by 44,000 to a total of 448,000 which was higher than expected and is at a 5 year high. Tomorrow the unemployment rate and non-farm ...

After being ranked 36th in the nation for foreclosures in the month of April, Hawaii dropped to 42nd in May.  Hawaii had 162 foreclosures in May, down 22% from April, but up 25% from May 2007, when there were 129 foreclosures.  The foreclosure rate for Hawaii was one of every 3,087 households.  Nevada led the nation with one filing ...

Aloha, It sure is not fun to talk about, but in the current market we are seeing quite a few "Short Sales".  What is a Short Sale?  A short sale is when a bank or mortgage lender agrees to discount a loan balance due to an economic hardship on the part of the mortgagor.  It is the unenviable situation where someone ...