Wailea / Makena real estate comps crushed

Wailea and Makena real estate prices have suffered a major set back by the only real estate sale in the area during the month of January 09.

This beach front house on One Palauea, listed for $ 20 000 000, sold for $ 7 750 000 ! This sale will set the tone for other sales in the area, as appraisers will have to include it when appraising other transactions.

Stay tuned ..... this could get really exciting !

First time homebuyers win with FHA loans

With housing prices continuing to fall, first time home buyers are in a great position. Not only can they take advantage of improving pricing, they can also take advantage of a Federal Housing Administration (FHA) program that allows for just a three and a half percent (3.5%) down payment, one loan, with the same interest rate as conforming, conventional loans ..... Incredible !

Add to that, first time home buyers can get that 3.5% down payment from their retirement accounts ..... penalty free !

Remember the three rules when buying real estate anywhere, any time listed in my previous blog, and take advantage of your real estate market today.

Good luck !