Big Island Homeowners May Mediate Foreclosure Action Filed in Court

The Hawaii Supreme Court has issued an order modifying and extending the Third Circuit’s residential foreclosure mediation pilot project for another year. The project’s end date will be March 31, 2012.  The goal of the project is to give Big Island homeowners who have been served with a foreclosure action the opportunity to participate in mediation with the lender and a trained mediator before the case is heard by a judge.
Third Circuit is implementing certain changes to enhance the project’s effectiveness for the second year.  One of the changes makes filing and serving a Foreclosure Mediation Notice and Request Form – along with the complaint – mandatory for the lender’s attorney, or plaintiff. Participation in mediation for the eligible borrower, or defendant, however, is still optional.  A plaintiff who files a request for a default judgment because the defendant did not show up on the court date must also file a Certificate of Service verifying that the Foreclosure Mediation Notice and Request Form were served upon the defendant.  In deciding whether the project should be extended and how it may be modified, the Supreme Court considered information from several sources, including the Foreclosure Mediation Pilot Project Report and feedback from the Hawaii Access to Justice Commission. Both documents are available on the Hawaii State Judiciary’s website.

For more information about the Third Circuit’s residential foreclosure mediation pilot project, call 808-961-7435.


February 2011 Sales Stats

Maui’s residential sales held steady at 57 homes sold, while condo sales rose to 95 units sold. Land sales came in at 7 lots sold.

February’s Median sales prices declined from January’s $495,415 to
$440,000 while condo median prices rose substantially to $376,000. Land median price was $282,500.

Days on Market for Residential homes = 149 DOM, Condos = 196 DOM, Land = 180 DOM.

Year to Date: Comparing January 2011 to January 2010
Residential unit sales rose (+9%), average sold price = $706,134 (-1%), median price = $450,000 (-7%) and total dollar volume sold = $78,380,919 (+7%).

Condo unit sales increased (+7%), average sold price = $513,007 (-24%), median price = $332,500 (-19%). Total Condo dollar volume sold = $93,367,305 (-19%).

Land Lot sales are such a small sampling that statistics in this property class are not necessarily reliable indicators. Land lot sales increased (-16%), average sold price = $814,739 (+73%), median price = $291,250 (-35%), Total dollar volume = $13,035,826 (+46%).

Total sales for immediately past 12 months: Residential = 821, Condo = 1,161, Land = 124.

Sellers still need to sharpen their pencils because of the high percentage of short sale and bank owned properties for sale. There is still ample opportunity to reach out to those investor/buyers who are on island with cash. For all of your Maui real estate needs, contact Michele Muir White R(S), ABR, SFR , 808.298.8448,   To access the Maui MLS: