Foreclosures in Kapolei keep coming

Foreclosures are on the rise in Hawaii, up over 60% form a year ago.  Hawaii is currently ranked as 15th in foreclosures in the United States.  While Maui has the highest incidence of foreclosures of all of the Hawaiian Islands Oahu has its fair share of foreclosures as well with Kapolei ranked number 5 on the September list of high foreclosure areas posted by RealtyTrac.  The increasing number of foreclosures is linked to reduced income, second homes, loss in home values and the problems just keep coming.  John Riggins was quoted in an article published in the Star Bulletin as saying “As neighborhood prices drop, some sellers will be forced into short sales or foreclosures.  The problem is self-perpetuating.”

The positive side of foreclosures in Kapolei and elsewhere on Oahu is that real estate investors can buy property at a bargain price.  The downside is that foreclosures lower the values of homes in a community, hurting those who may want to sell their homes or take out a loan on their property.

If you are interested in learning more about foreclosures in Kapolei contact John Riggins today.  John Riggins is a Certified Distressed Property Expert (CDPE) and can help you through the foreclosure process in Kapolei.

For more information about Kapolei Real Estate please contact John Riggins, Certified Distressed Property Expert. Click here for access to the Oahu MLS and all available listings in the Kapolei area.

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