Amidst all the Cassandra cries of the death of the real estate market nationally, those who look carefully are seeing early signs for optimism. 1) Already housing prices have dropped enough that the historical relationship between median incomes and median housing prices has been restore in many markets; 2) For the first time in seven months the number of monthly sales increased on a year-over-year basis in February; 3) The Federal Reserve has maintained an aggressive approach towards liquidity and interest rates and 4) Several funds are being organized to invest in troubled mortgages.

Closer to home, here on Maui, two Maui oceanfront homes have gone into escrow in the past two weeks. The overall activity level in Maui real estate has picked up considerably. Several Maluaka units have been purchased recently, seven other Wailea properties have sold and another six have gone into escrow. We have placed two of our clients properties into escrow in that period and helped another client purchase a third.  Prices have remained reasonably resilient in the area although inventories remain high.

For details, contact us!