maui real estate (short sales, foreclosures, lender)

[declfi48]

I here that Maui real estate will keep falling till 2011 or 2012 and it will bottom out at 2001 or 2002 prices. What do people living there think.
Thanks Dennis

[bresdo]

Hope so...I will be ready to buy in 2-3 more years.

[Swigchow]

Can anyone recommend names of realtors who specializes in Maui foreclosures or distressed properties?

Thank you

Moderator interpose: Because members that are realtors cannot advertise here, please send your recommendations via DM. Thanks,
7th

[Lisa From Maui]

Call different title agencies on Maui. Ask the escrow officers:
1. Do you have any realtors that seem to do a lot of short sales or lender owned properties
2. Would you recommend that realtor to your best friend?

IMHO, any good realtor can do a SS or LOP (correct term is real estate owned, REO)

My best suggestion is: Forget about the SS or REO questions. Ask the escrow officers which realtor they would recommend to their best friend. The escrow officers know who is professional, knowledgable, who follows through, and who is nice to deal with. Important: Call the escrow officers between the 3rd and 15th of the month. They tend to get slammed (super busy) the last two weeks of the month. That's when all the deals close.

Or, better yet, go to the Hawai'i Board of Realtors. Ask who handles Realtor complaints. Hard to explain quickly... When two Realtors fight over a deal, there is a panel of Realtors (kind of like a jury) who hear the case and decide who wins. Ask the H B of R who sits on that panel. Those are the people who are the absolute experts in Hawai'i. The only way to get on that panel is to be a walking encyclopedia of real estate knowledge.

Hope that helps. If it does, please (+) rate positively. -- Lisa ;-)

[Lisa From Maui]

I live in town. Maui. People here are concerned about how they're gonna pay their basic bills. No jobs. Hours being cut everywhere.

For the last 5 years, "they" whoever they are...
have been saying "the market will bottom out next year." It will happen when it happens.

[hothulamaui]

I hope we are at the bottom. most of us can't afford to lose anymore than the huge hit we already have taken. hawaii real estate will never hit rock bottom as this is a very desirable place to live and there is only so much housing to go around on an island

[Swigchow]

Originally Posted by Lisa From Maui

Call different title agencies on Maui. Ask the escrow officers:
1. Do you have any realtors that seem to do a lot of short sales or lender owned properties
2. Would you recommend that realtor to your best friend?

IMHO, any good realtor can do a SS or LOP (correct term is real estate owned, REO)

My best suggestion is: Forget about the SS or REO questions. Ask the escrow officers which realtor they would recommend to their best friend. The escrow officers know who is professional, knowledgable, who follows through, and who is nice to deal with. Important: Call the escrow officers between the 3rd and 15th of the month. They tend to get slammed (super busy) the last two weeks of the month. That's when all the deals close.

Or, better yet, go to the Hawai'i Board of Realtors. Ask who handles Realtor complaints. Hard to explain quickly... When two Realtors fight over a deal, there is a panel of Realtors (kind of like a jury) who hear the case and decide who wins. Ask the H B of R who sits on that panel. Those are the people who are the absolute experts in Hawai'i. The only way to get on that panel is to be a walking encyclopedia of real estate knowledge.

Hope that helps. If it does, please (+) rate positively. -- Lisa ;-)

Thank you, these are very good suggestions. I was also hoping to get realtor recommendations from recent buyers who may have purchased a REO or short sale.