Ewa Beach Is Honolulu’s Foreclosure King!
December 19th, 2008 categories: The Market
In general, core Honolulu is not experiencing significant rates of foreclosure. The City and County of Honolulu encompasses the entire island of Oahu and there is an area where foreclosures can be found. According to Pacific Business News, Ewa Beach is the place.
“How Ewa Beach earned the unhappy distinction of being Hawaii’s foreclosure capital – and by extension, how the nation’s financial machinery broke down – can be understood through the events leading to the unsuccessful auction this week of the four-bedroom house at 91-1005 Kai Uhu St. in the Ocean Pointe subdivision.”
CLICK HERE TO READ THE PBN ARTICLE
The amount of inventory in Ewa Beach leads me to believe that in the short term values will go down more, however, over the long run an investment in this area should make sense.
Call me at 808-737-2093 or toll free 877-737-2093 to discuss your specific situation.
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The real question is how many Alt-A and Option ARMs reset in Hawaii in the next four years. That is what will determine foreclosure rates to a large degree. On the positive side, rates are low for people who can refinance. On the negative side, people who used “liar loans” provided largely by mainland mortgage companies could end up not being able to refinance at decent rates or event to refinance at all. Anyone using a negative amortization mortgage vehicle could be at severe risk.
Wow! Thank you! I always wanted to write in my site something like that. Can I take part of your post to my blog?