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Foreclosure and Shadow Inventory on Maui

In 2010, the Hawaii State Legislature amended the State’s Foreclosure laws requiring attorneys representing the lender in a foreclosure case to “affirm” that their filing was accurate. This effectively ended most foreclosures.

That was probably a good thing, because it gave the inventory a chance to shrink to the point that the foreclosures which have once again started hitting the market are easily absorbed by the pent up demand.

If you were fearful that a slew of foreclosures was going to cause the market to tank, you should get that thought out of your head. The 300 or so estimated properties that are still to be foreclosed on will easily be absorbed over the next 2 years as they work their way through the courts and on to the market.

With interest rates rising, it is time to act now, before prices and interest rates both go higher.

Aloha,

Ken

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About The Smith Team

Ken Smith, a Maui resident for 35 years, brings his extensive local knowledge and passion for the island to his successful real estate career. Alongside his daughter-in-law, Melissa Smith, and Lindsey Taylor, the Smith Team provides a wealth of experience and dedication to clients seeking to buy or sell property in Maui.

Melissa Smith, a third-generation Maui native, combines her deep understanding of the island's growth with a commitment to exceptional service. She empowers clients with knowledge to make informed decisions in finding their dream homes. With a background as a top agent and a Broker's license, Melissa's expertise is invaluable.

Gregory P. Smith, a lifelong Maui surfer, channels his passion for the island and its natural beauty into his real estate profession. His enthusiasm, deep market knowledge, and dedication to exceeding client expectations make him an exceptional agent.

The Smith Team's combined local expertise, commitment to client service, and understanding of the unique Maui real estate market make them an ideal choice for those looking to navigate the island's property landscape. Their proven track record ensures a smooth and successful experience for both buyers and sellers.