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Mike Bates

Mike Bates

REALTOR®-Associate
808-548-1220
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Hawaii Foreclosures


15 Results Days on Site (new to old)
14
$550,000 For Sale
91-1788 Pualoalo Place
Ewa Beach, HI 96706
3 beds, 2 baths | Single Family Home
1,248 sq ft; lot: 5798 sq ft
2
$755,000 For Sale
1458 Noelani Street
Pearl City, HI 96782
5 beds, 2 baths | Single Family Home
2,223 sq ft; lot: 5401 sq ft
16
$350,000 For Sale
2 beds, 1 full, 1 partial baths | Condo/Townhouse
871 sq ft
8
$760,000 In Escrow Showing
94-333 Paiwa Street
Waipahu, HI 96797
9 beds, 3 full, 1 partial baths | Single Family Home
2,829 sq ft; lot: 5001 sq ft
3
$293,859 In Escrow Showing
91-1005 Mikohu Street #14S
Ewa Beach, HI 96706
2 beds, 1 full, 1 partial baths | Condo/Townhouse
716 sq ft; lot: 2.448 acres
5
$651,000 In Escrow Showing
99-657 Iwaiwa Street
Aiea, HI 96701
3 beds, 1 full, 1 partial baths | Single Family Home
1,560 sq ft; lot: 7954 sq ft
6
$620,000 In Escrow Showing
543 Kulia Street
Wahiawa, HI 96786
5 beds, 3 baths | Single Family Home
1,665 sq ft; lot: 5001 sq ft
9
$551,000 For Sale
95-082 Waimakua Drive
Mililani, HI 96789
3 beds, 1 full, 1 partial baths | Single Family Home
1,839 sq ft; lot: 6769 sq ft
5
$998,000 For Sale
1318 Kukila Street
Honolulu, HI 96818
3 beds, 2 baths | Single Family Home
1,816 sq ft; lot: 7405 sq ft
0
$450,000 For Sale
87-116 Maipalaoa Road
Waianae, HI 96792
3 beds, 2 full, 1 partial baths | Single Family Home
1,556 sq ft; lot: 3751 sq ft
Listings 1-10 out of 15 Previous 1 2         Next

oahu foreclosures september 2018

The lowdown on Hawaii foreclosures

Hawaii foreclosure listings have increased in recent years.  Foreclosures listed on the MLS allow us to conduct a more standard transaction, generally allowing the buyer to inspect the home and obtain financing.

Hawaii Foreclosure Auctions

Foreclosures listed for auction in the newspaper (judicial and non-judicial) are usually the type where you show up at the courthouse with a cashier's check and bid.

Suppose you find an interesting foreclosure in the newspaper? A buyer usually needs to have at least 10% of the purchase price in the form of a cashiers check in order to bid. Example, you go to an auction for a home that has a potential market value of $400,000 and you're willing to bid $300,000. You need to have a cashier's check for $30,000 before you register to bid. The high bidder needs to secure financing for the balance of the loan (in this case, $270,000). Then, if the owner/tenant is still in the home, the new owner must evict them. If the owner/tenant refuses to leave, a sheriff can be hired (at the new owner's expense) to evict them. Foreclosures usually are fixer uppers, plan on spending money to get the home in good condition.

Okay, suppose you have the cash and financing and find a property you like AND win the auction with the highest bid. Buying real estate is complicated and you should have either an attorney or realtor handle your transaction. Non-MLS foreclosures generally don't pay commissions. To have a realtor handle your documents you'd need to make an agreement to pay your realtor a commission on top of the purchase price.

Foreclosures Listed with Realtors

These foreclosures show up in the MLS and pay commissions, making them easier to purchase.   Your realtor can represent you free of charge (the seller pays the commission).

Outlook for 2018

In 2017 Hawaii's economy recovered nicely. Prices are gaining steadily.  The real estate market has picked up and it's going strong.  Foreclosures and short sales appear to be declining in number. The weakest markets are on the outskirts of Honolulu, in areas like Waianae, Kapolei, Makakilo and Ewa Beach. 


Mike Bates
Realtor Associate
RS-54129
Century 21 iProperties Hawaii

1585 Kapiolani Blvd #1533
Honolulu, HI 96814
Phone: 808-548-1220
Email: hawaiihomes1@gmail.com

Testimonials

Mike was awesome. He was very patient and understanding with us. There were times where we just wanted to put things on hold due to the frustration however Mike stuck in with us. We truly appreciate all that he has done for us and will definitely recommend hom to any family or friends that are looking to buy a home. Alton and Janeen K. - August 2018
Excellent customer service! We bought and sold our home with Mike, he is the best realtor in Hawaii. Jerry and Candace G. - July 2018
I was nervous as a first time home buyer, but Mike handled it really well. He was willing to work with our budget and what we need in our first investment property. I would highly recommend him. Jenny C.
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