Hawaii’s Foreclosures Are Up, But Is This Good?

January 18th, 2010 categories: The Market

Last Thursday’s Honolulu Advertiser reported an increase in foreclosures in Hawaii, but the subtitle read as follows, “data suggest worst may be over”.  Deep in the article you find the answer postulated below.

“In what may be a silver lining, Hawai’i’s foreclosure count was largely due to a flurry of auction notices, which are filed near the end of the foreclosure process. Auction notices represented 1,241 of the 1,534 filings in December. Auction notices involve foreclosure cases that were started in earlier months.” CLICK HERE TO READ THE HONOLULU ADVERTISER ARTICLE

I guess they believe that in order for things to get better they have to get worse.  In other words, they see this as a peak in foreclosure filings and they expect a decline hereafter.  Let’s watch and hope.

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This entry was posted on Monday, January 18th, 2010 at 2:35 pm and is filed under The Market. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

  1. Douglas Fischer said at January 18th, 2010 at 3:18 pm

    I think you are absolutely correct. I believe it may be the peak as well, and see a decline in the near future. Also, we have few foreclosures or lender owned homes or condos in Metro Honolulu. Wouldn’t you agree?

  2. susie said at January 19th, 2010 at 3:34 pm

    Looks like things are coming around. Not soon enough for most I am sure.

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