Hawaii foreclosures decline from December to January - Hawaii News Now - KGMB and KHNL

Hawaii foreclosures decline from December to January

By Howard Dicus - bio | email

HONOLULU (HawaiiNewsNow) - Hawaii had more than 1,300 foreclosure filings and more than 30 actual foreclosures in January, the research firm RealtyTrac reports.

Filings fell 15% from December to January - nationwide they fell 10% - but Hawaii filings remain more than triple the rate of a year ago. This is not because there are so many filings now but because there were so few a year ago.

Four states have 60% of all U.S. foreclosure filings: California, Nevada, Arizona and Florida. One in four homes in Nevada is involved in some stage of foreclosure proceedings.

Precise counts are of limited statistical use because RealtyTrac counts filings at three different stages of foreclosure proceedings, producing some multiple references to the same home, while short sales can take homes out of the foreclosure pipeline.

RealtyTrac and local realtors agree that many, and perhaps even most, actual foreclosures in Hawaii are investment properties whose owners are not full-time local residents.

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