The February 2009 edition of Elite Pacific Properties’ Oahu Upscale Real Estate Report is now available.  

Sales and new escrows for both single family homes and condos continue to drop as more and more buyers wait on the sidelines until the global financial markets recover.  The upside for those who want to buy is that there are many properties on the market, and more and more have been sitting a while.  That means more sellers may be willing to be flexible in their pricing.  The deals are there for those who do the research.  The other positive element is that interest rates are really low for qualified buyers right now, and the federal government may act soon to bring those rates down even further to stimulate the property market.  Lower interest rates mean lower monthly payments, which means more for your monthly dollar.  That may end up working to the advantage of both buyers and sellers.

If you know of anyone who might also be interested in buying or selling property in Hawaii, please contact me at (808) 349-8665 or Scott@elitepacific.com, or Miki at (808) 349-8665 or Miki@elitepacific.com.  

Also, if you would be interested in professional property management at reasonable rates, Elite Property Management offers a full line of services that can be tailored to your needs.  For those property owners who do not need property management but who need to find quality tenants, we can also help.  We can put our marketing expertise to work for you.

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