30 Beaches in 30 Days: September 2010

September 24, 2010

Beachfront Property for Sale on Kauai

Check out the great oceanfront, beachfront, and cliffside properties available on Kauai!

The MLS # is an active link, click on it to see details, description and photos of the property.

Enjoy!

MLS #	DOM	Location	Beds	Baths	Sq Ft	Land	Price
236161	92	Hale Ono	2	1	2,016	6,251	$1,285,000
232778	202	4880 Aliomanu Rd #2	2	2	913	10,454	$1,495,000
237597	46	2652-A Puuholo Rd	1	2.05	800	6,377	$1,675,000
235046	92	Hale Ono	2	2	2,016	12,706	$1,780,000
232779	202	4880 Aliomanu Rd #1	3	3.01	2,138	16,335	$1,950,000
219555	629	05-7048 Kuhio Hwy	4	4	2,106	11,950	$2,499,000
196277	564	9890 Kahakai Rd	8	4	3,634	13,062	$2,850,000
207311	951	05-6920 Kuhio Hwy	7	5	3,102	9,100	$2,900,000
229565	309	4261 Anini Rd	2	2	2,144	22,650	$3,150,000
218590	659	7366 Alealea Rd	2	2	2,784	13,731	$3,625,000
237782	42	05-7826-a Kuhio Hwy	3	2	1,134	19,221	$3,795,000
236526	70	4842 Lawai Rd	5	5	3,261	9,905	$3,998,000
230289	277	4000 Anini Rd	3	2	1,196	18,428	$4,100,000
204343	1,007	4371 Anini Rd	2	1	1,296	32,813	$4,200,000
238227	30	Anini Mua Loa Condominium #B	4	3.01	3,934	29,795	$4,995,000
233008	192	7324 Alealea Rd	3	3.01	2,500	17,048	$5,225,000
221186	584	5070 Kukuna Rd	6	5.01	3,201	28,183	$5,450,000
219016	408	May-52	5	3	4,500	43,995	$6,000,000
235272	107	5032 Aliomanu Rd	1	1	646	60,548	$6,000,000
230367	279	3500-A Anini Rd	5	4.01	4,556	50,530	$7,850,000
234514	137	Haena Land Company #1	9	6	5,370	76,666	$8,950,000
236142	93	5560 Weke Rd	3	3.01	3,800	29,596	$9,500,000
223871	466	05-7690 Kuhio Hwy	5	5	3,620	67,518	$9,700,000
220831	584	5156 Weke Rd	4	4	3,807	48,352	$9,900,000

Jamie Friedman (RA)

Prudential All Star Realty

direct (808) 634-2011

fax (808) 356-1342

jamiejoy@aloha.net

www.MyKauaiProperty.com

Follow me on Facebook, Twitter and more! http://www.FollowJamie.com

September 15, 2010

What's a Short Sale

What's a short sale?

A short sale is when an owner is selling a home for which their current loan balance (pay off amount) exceeds the current market value of the property. Occasionally, though not kindly, referred to as being "upside down" or "under water" ~ i.e. owing more than it is "worth".

Generally an owner would opt for a short sale when they can no longer afford the mortgage payment and re-financing and/or loan modification (reducing payments via the lender) are not an option. Though there are other reasons an owner may have to sell (for example to relocate for a job or personal reasons), so refinancing or modifying the loan would not work for their circumstances. Regardless of the circumstances, a short sale can only be completed with the lenders consent and all sales are subject to lender's terms and conditions.

The advantages to a seller considering a short sale:

· Avoiding foreclosure

· Potentially preserving their credit report as, in theory, delinquent payments to the lender and a completed short sale will appear "less worse" than a foreclosure (*not guaranteed as it does depend on how it is reported by the lender to the credit report companies)

· Potentially avoiding a deficiency judgment (lender pursuing the seller for the remaining balance of the loan: the difference between the loan balance and the net sales proceeds to the lender). This varies amongst lenders, but lenders may pursue a deficiency judgment with both a foreclosure and a short sale, and some will waive the right to a deficiency judgment in the short sale acceptance/approval terms and conditions. *Of note, some states do not permit deficiency judgments or limit the amount that may be pursued.

Why would lenders agree to this?

· Since the owner is no longer paying the mortgage (in most cases), the loan is not bringing the lender any income (aka it has become a non-performing asset), permitting a short sale results in a lender losing less money in the long run

· The foreclosure process can be costly and slow and the value of the property may continue to go down. In addition, once the property is foreclosed on, the bank then has to spend time and money on it (maintenance, other carrying costs, commissions on the sale, and the costs associated with the sale)

Additional resource links:

· Making Home Affordable: Help for America's Homeowners

· Home Affordable Refinance

· Home Affordable Modification

· Home Affordable Foreclosure Alternatives (HAFA)

· Look Up Your Loan

· Find a HUD Approved Housing Counselor

There is a wealth of information on the internet and I am also happy to answer any additional questions you may have.

Please continue to follow my blog as I post additional information for buyers and sellers of short sales.

Mahalo, Jamie

***All owners/sellers and buyers in a short sale transaction should be aware that short sales can have legal, financial, tax and credit consequences and are advised to seek professional advice from an attorney, accountant, and tax professionals prior to entering into a short sale.