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August 25th, 2007

Foreclosures In Hawaii

Ok….The title of an article in the Honolulu Advertiser says that Hawaii home foreclosures are up 60%, then the article says:

But the firm noted that the year-over-year change in Hawai’i may have been inflated because of expanded data coverage for the state last month.  RealtyTrac counts a range of document filings in the foreclosure process, from default notices to auction notices and bank repossessions. RealtyTrac said Hawai’i’s 85 foreclosure filings last month equated to one for every 5,777 households. That was sixth-lowest among states, and compared with a national average of one filing per 693 households. Hawai’i has maintained a relatively low foreclosure rate thanks in part to mostly stable home prices and a strong job market. Because of the methodology, RealtyTrac’s count can include more than one foreclosure filing on the same property. But the data also misses nonjudicial foreclosure notices that aren’t recorded publicly, and situations in which homeowners in mortgage default are working with lenders in hopes of avoiding foreclosure action.

Way to discredit your own articles title!

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Posted by scott on August 25th, 2007 in Real Estate |

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