The Good news and Bad News: Depending on which way you look at it??

The Good News I wanted to share with my Kihei readers is that we may be seeing the "Bottom" or at least the first Layer of the "Bottom".

Several homes recently priced right went pending the first day on the market with "MULTIPLE" Offers. Yes, I did say Multiple. Isn't this a Buyers market you ask? Yes, it still can be but we are seeing movement in the low mid range home price and it seems to be catching on like wildfire. Many of our buyers were on the fence and the fence just couldn't take all the weight.

Sellers don't think this bit of news gives you a license to overprice in this market. Pricing right just may lead to multiple over asking price offers as it did recently for 2 Kihei homes. There is still way too much inventory out there to be purchased and buyers are not likely to start outbidding each other too much as the news of the bad economy is lingering on everyone's mind.

The Bad News for buyers is that the anticipated 15k tax credit the members of Congress dangled in front of us all like a carrot, just got eaten up by that rascally bunch of rabbits called members of Congress. 8k now only for first time buyers that buy prior to August.

No help for the first time buyer, no help in sight for the homeowners struggling to make it with their mortgage payments and right now we are hearing banks are NOT helping to modify in any reasonable time frame or with reasonable payment options for sellers.

So I feel like I'm on a Merry go Round and the news of the day is Who is gonna Catch the Brass Ring? Sellers or Buyers or next week when it goes around again the ring may be gone?

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www.FineIslandProperties.com to contact us and we will provide you with the latest statistical data, mls search and more.