Maui Forclosures Show No Letup

Aloha Kakou:

While the number of home foreclosures in Maui County continues to be near record levels each month, the number of properties sold at auction, short sold or having loans modified continues to be just a few each month.

That means a large backlog of properties that need to be sold at distressed prices before the real estate market here can recover, which could take two or three years.

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