Interest Rates, REOs and Short Sales

Things are heating up here on Maui.  After a short bump interest rates are dropping this week according to indicators.  Lenders are also starting to open up a little bit more though appraisals are still an issue.  With new regulations that started April 1, the Short Sale process should become more reasonable making them a little more realistic.  Still have to have all the ducks in a row but the banks have to respond in a timely manner so this should help.

REO properties are popping up all around, but what we are seeing is bidding wars starting.  The good news is this is forming a floor and many are starting to sell at more than asking prices.  We here on Maui might be coming out of the woods soon.  Let me know if you want to receive current list of Short Sales and REOs.