Honolulu Foreclosure Listings Rise, but Prices Remain High As Well

By: Joseph Smith

The state of Hawaii is not spared from the current housing and economic downturn being experienced in the US. In fact, data from real estate tracker RealtyTrac show that there was a threefold rise in foreclosed homes in the state island in October 2008 from October 2007. However, Hawaii’s foreclosure is far better than in other states. For instance, there is a home foreclosed for every 1,200. In Nevada, for comparison, foreclosure is at one for every 74.

The state of Honolulu is one of the most popular sites where homebuyers and investors are rushing to acquire vacation homes. That is why many buyers have been delighted and awed when the number of foreclosures started rising in the city. There are not too many Honolulu foreclosure listings, but there are enough of those homes that are available in the market. Many opportunistic homebuyers have been actively snapping up such dwellings since the housing industry downturn.

The rate of Honolulu foreclosure listings is still controlled despite rise. However, that is not enough reason to significantly shake up price schemes. Most Honolulu foreclosure homes are priced higher compared to foreclosures in other states. Aside from the reason that the volume is still low, analysts said values are set to remain high in Hawaii, a major tourism destination because of its island tropical climate, geography and topography. Buyers could secure a few percentage savings when buying Honolulu foreclosure homes. Such small savings are enough to further convince more buyers to purchase more.

Do you intend to invest in a vacation house for your family or do you aim to take a home investment? Certainly, you need to look at available Honolulu foreclosure listings. The best possible choices and purchases are in Hawaii, where else?

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Joseph Smith has been educating buyers on the finer points of Honolulu Foreclosure Listings purchase at ForeclosureListingsNationwide.com for over four years. Click here to visit and read more advice on finding Free Foreclosure Listing.

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