This foreclosure report provides the monthly foreclosure activity for the Hawaiian Islands along with commentary and historical data. The foreclosure information is compiled from RealtyTrac, the largest and most comprehensive provider of pre-foreclosure and foreclosure data.
1. Hawaii Foreclosure Activity Tapers Off
Date State 90-days Auction Bank Total US Average
Ranking Past Due Scheduled Owned Filings Filings
June 2009 19 155 460 91 706 6723
May 2009 15 279 476 62 816 6430
Jan 2009 30 253 53 31 337 5488
June 2009 total Hawaii Foreclosures was 706 with one in every 718 households
June 2009 total Hawaii Foreclosures was 706 with one in every 718 households
in the foreclosure process. While Hawaii remains well below the US average
in the foreclosure process. While Hawaii remains well below the US average
filings, our foreclosure activity ranks us 19th in the country.
filings, our foreclosure activity ranks us 19th in the country.
400000 900
350000 Total US Filings Shaded in Grey with 800
Total Hawaii Filings as a Blue Line
300000 700
Nationwide
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People want to hear bad news and the media will certainly find a way to put a negative spin on our nations
foreclosure activity by comparing it to previous quarters or even the previous year. While the media is reporting the
numbers accurately, the fact remains that our economy underwent an economic recession that was felt across all
50 states including Hawaii. Unemployment is an obvious hinder to our economic recovery. The months ahead will
provide greater insight into how well our economy is recovering, but for June, we must acknowledge that
foreclosure activity has stabilized. Mortgage brokers across the state are already rumbling about a return to 100%
financing combined with historically low interest rates will lead to a surge in buying which may have already begun.
Already in Hawaii we are seeing inventory being absorbed and foreclosure activity decreasing. Despite the negative
rhetoric on foreclosures, this buyers market is nearing its end.
Compliments of Theresa Harden, PB e-Pro Realtor®
EXIT HAWAII DREAM REALTY
45-880 Kamehameha Hwy
Kaneohe, HI 96744
Office (808) 234-5880
TH@ExitHDR.com
