Report finds declining mortgage delinquency rates for April as states impacted by
2017 hurricanes continue to recover
CoreLogic, a leading global
REALTOR 2015/17 IN ESCROW
Cindy Griffey, R(S)
(808) 937-3370 Cell
cindy@macarthurhawaii.com
78-6831 Alii Dr. #163
Kailua Kona, HI 96740
“IT’S A GREAT TIME TO SELL!”
Each Office is Independently Owned and Operated
HOLUALOA HIDEAWAY
Beautiful extremely well-maintained
Cr af tsman-st yle home with newly
constructed matching guest house. Many
design extras in this alluring home, one
of which is solar voltaic electric with net
metering to keep the electric bills low!
With 4 bedrooms and 4 baths between the
two houses, there are stunning ocean and
Kailua Bay views from most rooms. The
yard is a lush and private bird sanctuary
with fruits, avocados and coffee to enjoy.
$1,199,900 MLS#616757
WAIKOLOA VILLAGE
L o c a t e d i n t h e g r e a t f a m i l y
neighborhood of Waikoloa Village, this
single level home sits on a nice shaded
lot with big trees for privacy. Featuring
3 beds, 2 baths, a spacious living room,
separate dining area, large kitchen and
a large screened in lanai looking out
onto a beautifully established back
yard. Enjoy barbequing on the wooden
deck or relax in the cool Waikoloa
breezes.
$499,000 MLS#618940
KONA SEA RANCH
Beautiful ocean, coastline and
sunset views from this once
cleared 5 ac. parcel in a private
gated subdivision. You can see
Kailua Kona and Maui on a clear
day. Pebble beach and Hookena
close by. Build your private get
away or family estate. Great for
farming.
$250,000 MLS#294476
HONOMALINO FARM
Fully fenced and gated 6.73 acres
with Hwy. 11 frontage and a number
of great house sites. Professionally
planted and maintained mature
orchard with a 13,000 gallon water
tank installed for irrigation and a yurt
on the property. Close to Milolii and
Honomalino Beach for your ocean
activities.
$320,000 MLS#608992
KEAUHOU ESTATES
Great r eady t o b uild l ot w ith
beautiful mountain, coastline,
ocean, horizon and sunset views.
Conveniently located close to
Keauhou Shopping Center and
Keauhou Bay for all of your water
sports.
$369,000 MLS#610055
OCEANFRONT CONDO
Top f loor oceanfront turnkey
furnished 2 bedroom, 2 bath unit in
Kona Bali Kai. Great surf spot right
out front so you can privately sit
on your lanai and watch the wave
and surf action, dolphins, whales
and year round sunsets! Covered
parking, pool, BBQ’s and picnic
tables are available so you can enjoy
outdoor living by the water.
$499,000 MLS#614398
IN ESCROW
KANALOA AT KONA
Premier Keauhou area traveler’s resort
condominium complex with vintage styled
Hawaiian Hales. Turn-key featuring 2
bedrooms, 2 baths plus a spacious loft
and l ocated v ery c lose t o t he s horeline
with unobstructed shoreline views. Large
covered lanai for entertaining and watching
sunsets. Many amenities such as 3 swimming
pools, lighted tennis courts, concierge and
more. Perfect for oceanfront living, or rent
it out as an investment property.
$749,900 MLS#617181
HAWAII BUSINESS TOP 100
LYMAN KONA COFFEE FARM AND BnB
This 7.88 acre property has stunning
coastline and ocean views. The 2-story
main house has 4 bedrooms and 3 baths,
and the successful Mango Sunset B&B
operates in a separate 5 bedroom, 4 bath
house. Located at a cool 1800’ - 2100’
elevation the 100% organic, multiple
award winning Lyman Kona Coffee farm
thrives. This property is zoned A-3A so
subdividing is allowed, many opportunities
for income with this property!
$1,649,000 MLS#617676
KONA PALISADES
Totally remodeled 3 bedroom, 2 bathroom
single level home. The kitchen has new custom
cherry wood cabinets, granite counter tops and
new stainless steel appliances. There is new tiger
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bathrooms and a huge 432 sq.ft. bonus room. The
yard is professionally landscaped and there is lots
of parking for cars and maybe a boat!
$639,000 MLS#619309
ALI‘I HEIGHTS
Beautifully landscaped large corner lot
with immaculate newly renovated single
level home. Featuring 3 beds, 2 baths,
vaulted ceilings, 3-car garage with ocean
and sunset views from most rooms in
the house. Security gated back yard for
privacy with gorgeous gray bottom pool
with stamped and stained concrete coping.
Enjoy entertaining family and friends on
the large covered lanai while taking in the
views. Easy to see!
$899,000 MLS#619159
NEW LISTING
West Hawaii Real Estate | July 20, 2018 7
PRICES
2018
533,400 $582,900
282,800 $304,100
846,900 $895,800
property information, analytics
and data-enabled solutions
provider, released its monthly
Loan Performance Insights Report.
The report shows that, nationally, 4.2
percent of mortgages were in some
stage of delinquency (30 days or more
past due, including those in foreclosure)
in April 2018, representing a 0.6
percentage point decline in the overall
delinquency rate compared with April
2017, when it was 4.8 percent.
As of April 2018, the foreclosure
inventory rate – which measures the
share of mortgages in some stage
of the foreclosure process – was 0.6
percent, down 0.1 percentage points
from 0.7 percent in April 2017. Since
August 2017, the foreclosure inventory
rate has been steady at 0.6 percent,
the lowest level since June 2007, when
it was also 0.6 percent. The April 2018
foreclosure inventory rate was the
lowest for that month in 11 years; it
was also 0.6 percent in April 2007.
Measuring early-stage delinquency
rates is important for analyzing the
health of the mortgage market. To
monitor mortgage performance comprehensively,
CoreLogic examines
all stages of delinquency, as well as
transition rates, which indicate the
percentage of mortgages moving from
one stage of delinquency to the next.
The rate for early-stage delinquencies
– defined as 30 to 59 days past
due – was 1.8 percent in April 2018,
down from 2.2 in April 2017. The
share of mortgages that were 60 to 89
days past due in April 2018 was 0.6
percent, unchanged from April 2017.
The serious delinquency rate – defined
as 90 days or more past due,
including loans in foreclosure – was
1.9 percent in April 2018, down from
2.0 percent in April 2017. The April
2018 serious delinquency rate was
the lowest for that month since 2007
when it was 1.6 percent.
“Job growth, home-price appreciation,
and full-doc underwriting have
pushed delinquency and foreclosure
rates to the lowest point in more than
a decade,” said Dr. Frank Nothaft,
chief economist for CoreLogic. “The
latest CoreLogic Home Price Index
report revealed the annual national
home price growth was 7.1 percent in
May, the fastest annual growth in four
years. U.S. employers have also continued
to employ more individuals,
as employment rose by 2.4 million
throughout the last 12 months with
213,000 jobs added last month alone.
Together, this heightened financial
stability is pushing delinquency and
foreclosure rates to record lows.”
Since early-stage delinquencies can
be volatile, CoreLogic also analyzes
transition rates. The share of mortgages
that transitioned from current to 30
days past due was 0.8 percent in April
2018, down from 1.2 percent in April
2017. By comparison, in January 2007,
just before the start of the financial
crisis, the current- to 30-day transition
rate was 1.2 percent, while it peaked
in November 2008 at 2 percent.
As a result of the 2017 hurricane
season, Florida and Texas are the
only states showing significant gains
in 90-day delinquency rates. According
to the CoreLogic Storm Surge
Report, Florida has the most densely
populated and longest coastal area
and thus the most exposure to storm
surge flooding (compared to the 19
states analyzed in the report) with
more than 2.7 million at-risk homes
across five risk categories (Category 1
– Category 5 storms). Louisiana ranks
second with more than 817,000 at-risk
homes, while Texas ranks third with
more than 543,000 at-risk homes. A
major storm did not strike Louisiana
in 2017, but Florida and Texas are still
recovering from Hurricanes Irma and
Harvey, respectively.
“Delinquency rates are nearing
historic lows, except in areas impacted
by extreme weather over the past
18 months, reflecting a long period
of strict underwriting practices and
improved economic conditions,” said
Frank Martell, president and CEO of
CoreLogic. “Last year’s hurricanes and
wildfires continue to affect today’s
default rates. The percent of loans 90
days or more delinquent or in foreclosure
are more than double what
they were before last autumn’s hurricanes
in Houston, Texas and Naples,
Florida. The 90-day-plus delinquent
or in-foreclosure rate has also quadrupled
in Puerto Rico.”
For ongoing housing trends and
data, visit the CoreLogic Insights.
link
