BLOG.GREATHAWAIIANHOMES.COM

Radio Blog Cast - Home Buying Process

2012-03-13T21:34:27Z

Well that was fun. Mike and I taped our first radio blog this morning and after a run through yesterday we hit the pavement running this morning.

We discussed the home buying process in Hawaii. When to buy a home is a question many buyers ask but the first and most important step is understanding the first steps one should take to when buying real estate.

Mike I discussed these steps to buying a home in todays real estate market. We hope that you will enjoy our radio blogs and if you have any questions that you would like us to discuss and answer please feel free to give us this feedback.

Listen to internet radio with GreatHawaiianHomes on Blog Talk Radio

Copyright © 2012 The copyright in this website and the material on this website (including without limitation the text, computer code, artwork, photographs, images, music, audio material, video material and audio-visual material on this website) is owned by Mike Fujita and Gayle Fujita Ramsey.

What is Appraised Value?

2012-02-09T19:13:00Z

Appraisals provide an objective opinion of value, but it’s not an exact science so appraisals may differ.
For buying and selling purposes, appraisals are usually based on market value — what the property could probably be sold for. Other types of value include insurance value, replacement value, and assessed value for property tax purposes.
Appraised value is not a constant number. Changes in market conditions can dramatically alter appraised value.
Appraised value doesn’t take into account special considerations, like the need to sell rapidly.
Lenders usually use either the appraised value or the sale price, whichever is less, to determine the amount of the mortgage they will offer.

5 Common First-Time Home Buyer Mistakes

2012-02-08T18:57:24Z

1. They don’t ask enough questions of their lender and end up missing out on the best deal.

Often times Buyers are so overwhelmed by the process of mortgages, rates, and fees that they often forget to shop their mortgage. What this means is when speaking with a lender ask the hard questions.

What will the interest rate be? What is the APR rate? Yes they are two different numbers. Be sure to inquire about the monthly mortgage payment, as well as how much you will need to bring to the table at signing. Compare the numbers and decide which plan works best for you.

Also, be sure to contact the lender a couple of times before deciding. Why, because you want to see how quickly they respond to you. If they take the weekends off or don’t answer their phones after 5:00 PM its going to be very difficult getting things done quickly if the need arises. Most often than not, you will be out looking at homes on the weekend or after work and decide you want to put an offer in. A Pre Approval Letter is wise to submit at the time of the offer and if you can’t reach your lender or have to wait until Monday morning you could lose the property, especially if the property is well priced and shows well.

2. They don’t act quickly enough to make a decision and someone else buys the house.

Biggest mistake Buyers make is taking too long to decide what they want to do. If a home is priced well, shows well, is in a great neighborhood it will most likely sell quickly. The market tells Buyers that it is their market right now, it is a “BUYER’S MARKET”. This is true in some neighborhoods but not in all. If you like a home and want it don’t take too long making the decision. There are Buyers out there who have been watching the market and most likely waited too long and missed out on a great home. Often times, we find our clients need to have this happen before they realize that this is true.

3. They don’t find the right agent who’s willing to help them through the homebuying process.

There are Realtors out there how are all about the numbers. They will show you a number of homes. Expect you to decide to buy one of them and when you don’t they will move on and focus on another Buyer.

There are other Realtors who will continue showing you homes until you find the right one. They will help you eliminate what you like and don’t like in homes so that the search process will become refined. Once you find the right home they will guide you through the process by advising you of deadlines, pit falls, and consequences of action or no action.

4. They don’t do enough to make their offer look appealing to a seller.

Writing up the offer is not all your Realtor should do. They should draft a letter that will make you personable to the Seller and possibly tug at their emotional strings. The offer once completed should be clean and simple with very little added to C67 if possible.

5. They don’t think about resale before they buy. The average first-time buyer only stays in a home for four years.

This may have been true prior to 2008; however, until the market cycles back to home values increasing plan on staying in your home for at least 5 to 10 years before reselling if you want to enjoy the equity you built.

Just Looking what does that mean?

2012-01-27T19:27:00Z

As many of you know we have a website that allows you to search the MLS (Multiple Listing Service) for properties that are available for sale. This site gives you access to what licensed Realtors have access to. This service includes homes for sale with exception to non member licensed Realtor's listings, and FSBO's (For Sale By Owners').

We often see or hear from our customers that they are JUST LOOKING. What does that mean?

Is it a brush off because you don't want to discuss your plans of possibly buying a home?

Is it that you aren't sure what you are doing but you are interested in finding out what homes are listed at?

Is it that you just don't want to be bothered?

Maybe all of the above or none of the above, either way, we can't help you if there is no dialog. Honestly, the only way we can help guide you or share with you our expertise in the home buying or selling process is to allow us to communicate with you either by phone or email.

We understand that this maybe the first time you have bought or sold a home. We also understand that it may have been awhile since you either bought or sold your home. We are a wealth of information and are here to guide you through the process; that is what a PROFESSIONAL Realtor will do.

Just Looking is fine but if you are thinking of buying or selling it is never to early to build a rapport with a licensed Realtor to make sure that you are doing everything you can do to set yourself up to achieve your goals in the real estate market.

Hiding behind a website won't get you there. Start a dialog and find the perfect person or team to work with when you are ready. You might surprise yourself and be able to take advantage of the low interest rates and great list prices now. It really sucks to look back and realize that you missed an opportunity. It is always better to feel like you took advantage of one.

7 Smart Strategies for Kitchen Remodeling

2012-01-25T19:22:00Z

7 Smart Strategies for Kitchen Remodeling

Kitchen remodeling can turn a ho-hum room into your home’s pride and joy. Here are strategies to help your project run smoothly. Read

Leasehold (LH) v. Fee Simple(FS) v. Fee Available (FA)

2012-01-24T19:24:00Z

Back by popular demand... an article we wrote a while back....

In the state of Hawaii we have land that is conveyed in a couple of tenures. There is Fee Simple which is what property in the mainland is conveyed in. This means that when you buy the home you also own the land or interest in the land if you are buying a condominium or town home.

Leasehold property means that you only own the improvement on the land, not the land. For example, if there is a single family dwelling on the land then you only own the home and the land is owned by someone else. This often means you have to pay an additional fee every month called the Lease Rent. Basically, you are renting the land from the land owner.

This lease rent can range from a very low amount to a very high amount. For instance there are lease rents below a hundred dollars a month to a property in Kahala that is over a thousand dollars a month.

Leasehold was created at a time in Hawaii when property was too expensive for individuals to purchase and instead of selling off the land the land owners decided to rent out the land and sell the homes on them. This allowed the land owners to increase their land value. However, this system was created 40+ years ago and many of the leases are now terming out.

This means that there is often less than 30 years remaining on the lease and some are even expiring. The problem for buyers and sellers when the lease amount is less than 30 years is that mortgages are difficult to obtain and will only be giving for a certain term with a cushion. For example, say there is 20 years on the lease remaining. The mortgage company will give you a mortgage for 15 years. Different mortgage companies vary in the cushion they need so this number may vary. However, what it comes down to is that you can’t obtain a 30 year mortgage on a property that is sold in leasehold with less than 30+2-5 years remaining.

The other hurdle to overcome is when the lease rent is going to be bumped up. Throughout the life of the lease rent there are step ups in the lease hold portion. This means that your lease rent maybe $200 a month but in three years it will possibly change. No one can tell you how much it will increase and banks will look at when the next step up is scheduled for when considering your mortgage.

What this all means is that if considering a leasehold property you will possibly have a shorter term mortgage, which means your monthly mortgage amount will be more than if it were termed out at 30 years. Also, that when calculating if you can afford to purchase the property the lease rent amount will be calculated in and this will often mean less buying power.

The great thing about leasehold properties is that their values are often much lower than fee simple and there are still a few situations that are great opportunities for a buyer. Word of caution though; make sure you really understand what you are getting into and the circumstances of the lease portion of the property.

Land is not conveyed in Fee Available but if you should see this under tenure on an MLS sheet provided to you by your realtor what this means is that the fee is available for purchase. IF at all possible, we highly recommend purchasing this at the same time you purchase the property; by doing so you will be buying in Fee Simple which is the best tenure to buy in.

Should you have any questions regarding tenures in Hawaii please feel free to contact Mike at 808-630-1828 or Gayle at 808-388-1485.

You have a Buyer Now You Need to Keep Your Home Sale from Falling Apart

2012-01-23T18:50:00Z

Mistake #1: Ignore contingencies

If during negotiations of your Purchase Contract the Buyer makes a request for something to be done DON’T HIRE THE CHEAPEST HANDY MAN to do the work. The Buyer will notice and ask for the work to be re done. Remember; do unto others as you wish done to you. This will keep your sale moving in the right direction and you will not be haunted by a future phone call even after the sale closes that there is a potential lawsuit against you because you wanted to save a few dollars. In the long run it will cost you a lot more.

If you are the Buyer and you are required to submit an additional deposit once you clear a contingency act quickly. If the home has a backup offer and you drag your feet this is all the Seller needs to cancel the contract and move on to Buyer #2.

Mistake #2: Don’t bother to fix things that break

The last thing any seller needs is for the buyers to notice on the pre-closing walk-through that the home isn’t in the same condition as when they made their offer. When things fall apart in a home about to be purchased, sellers must make the repairs. If you choose not to maintain your home in the condition it was during the Initial Inspection otherwise referred to in the contract as the C51, the buyers may lose confidence in your integrity and back out of the sale. Also, if you repair something that breaks during the sales process it is your responsibility to disclose this to the Buyer: EVEN IF YOU FIX IT. This falls under the Disclosure Contingency in the Purchase Contract.

Mistake #3: Not being proactive regarding contingency deadlines

Treat deadlines as absolutes. If you have three days to accept or reject the home inspection, make your decision within two days. If you’re selling, move out a few days early, so you can turn over the keys at closing.

Mistake #4: Refuse to negotiate any further

Once you’ve negotiated a price, it’s natural to calculate how much you’ll walk away with from the closing table. However, problems uncovered during inspections will have to be fixed. The appraisal may come in at a price below what the buyers offered to pay. Be prepared to negotiate with the buyers over these bottom-line-influencing issues.

Mistake #5: Hide liens from buyers

Did you neglect to mention that Uncle Sam has placed a tax lien on your home or you owe six months of homeowners’ association fees? The title search is going to turn up any liens filed on your house. To sell your house, you have to pay off the lien (or get the borrower to agree to pay it off); if you can do that with the sales proceeds, great. If not, the sale isn’t going to close.

7 Tips to Staging Your Home

2012-01-21T19:20:28Z

7 Tips for Staging Your Home

Make your home warm and inviting to boost your home’s value and speed up the sale process. Read

Why We Use Comparable Sales to Price Your Home

2012-01-21T18:50:52Z

Once you decide to sell it is imperative that you have a Realtor who understands the importance of using the right comparable sales to find the perfect list price for your home.

Knowing how much homes similar to yours, referred to by Realtors as comps, sold (recorded at) for gives us the best idea of the current estimated value of your home. Finding homes that are closely match yours is the tricky part.

What makes a good comparable sale?

The best comparable sales to use would be same model as your house in the same neighborhood that closed escrow within the last 6 months. It is highly important to pick the most recent solds that are comparable to your home. What does this mean? Well, if within the last six months there were 5 homes that were comparable and 3 homes sold within the last 2 months then those sold prices will be more weighted then the 2 homes that sold 4 or 5 months ago.

Often times in older neighborhoods it is difficult to find homes that are perfect matches, here are other factors that count:

Location: The closer to your house the better, but don’t just use any comparable sale within a mile radius. A good comparable sale is a house in your neighborhood, your subdivision, on the same type of street as your house, and in your school district.

Home type: Try to find comparable sales that are like your home in style, construction material, square footage, number of bedrooms and baths, basement (having one and whether it’s finished), finishes, and yard size.

Amenities and upgrades: Is the kitchen new? Does the comparable sale house have full A/C? Is there crown molding, a deck, or a pool? Does your community have the same amenities (pool, workout room, walking trails, etc.) and homeowners’ association fees?

Date of sale: You may want to use a comparable sale from two years ago when the market was high, but that won’t fly. Most buyers use government-guaranteed mortgages, and those lending programs say comparable sales can be no older than 90 days.

Sales sweeteners: Did the comparable-sale sellers give the buyers down payment assistance, closing costs, or a free television? You have to reduce the value of any comparable sale to account for any deal sweeteners.

Agents can help adjust price based on insider insights. Even if you live in a subdivision, your home will always be different from your neighbors'. Evaluating those differences—like the fact that your home has one more bedroom than the comparables—is one of the ways real estate agents add value.

An active agent has been inside a lot of homes in your neighborhood and knows all sorts of details about comparable sales. She has read the comments the selling agent put into the MLS, seen the ugly wallpaper, and heard what other REALTORS®, lenders, closing agents, and appraisers said about the comparable sale.

Foreclosures and Short Sales are used as comparables when Appraisers go out so these sold prices need to be taken into account when deciding on the list price. Not to mention that Buyers are not going to buy a home that is not a short sale or foreclosed on property at more than what they sold for. Buyers are extremely savvy these days and are always looking for perceived value. They will not over spend and banks won’t let them.

If you are contemplating selling your home we highly recommend contacting us to arrange a viewing of your home so we have an overall idea of the condition of your home in relation to comps currently listed in your neighborhood. At this time you we will share with you the process of selling, any ideas that would make your home more marketable, and provide you with a range of where your home should sell at based on the current market sales.

We look forward to hearing from you.

DHHL - Department of Hawaiian Homelands

2012-01-21T18:32:34Z

DHHL are for Hawaiians with at least 50% Hawaiian that is traceable through their genealogy. An applicant must submit an application to the DHHL, along with proof of heritage and then be approved. Once this is done you go on a waiting list. This is a very simple explanation regarding this matter.

The website to go to for more information is http://www.hawaiianhomelands.org/applications/commonly-asked-questions-by-new-applicants/ this link will take you to the page FAQ (frequently asked question) page for applicants. If this doesn’t help you go to http://www.hawaiianhomelands.org/applications/applying-for-hawaiian-home-lands/ hopefully this page will help as well.

Why blog about this? Well a client called yesterday with questions regarding refinancing and possibly taking advantage of the low interest rates and consolidating his debt. Unfortunately, he spoke to some person at HomeStreet Bank and they told him that because he owns a DHHL home there was no such thing as equity and he couldn’t. Something didn’t sound right to him so he called and inquired if we knew anything about this.

Of course we didn’t but we spent the day trying to find out the answers for him and took it as an opportunity to learn ourselves about DHHL homes. Here’s what we found out thanks to Tom Carmichael, http://tcarmichael-affinitylendinglo.mortgagewebcenter.com/Default.asp?bhcp=1 , at HomeStreet Bank.

You can refi your home if it is a DHHL home. You can take equity out if there is any and you meet the loan to value and income to debt ratios.

First off, if you are just going to refi in order to take advantage of the lower interest rates then you won’t need an appraisal and they can process your request. If you qualify they will complete the refi for you and hopefully your monthly mortgage payment will go down or you can pay if off sooner.

Secondly, if you want to take equity out then the process is a bit more complicated. First an appraisal will need to be ordered and it is not completed using the Market Value assessment but with Cost Approach. This is a little different and really only an appraiser can do this for you. Once completed, some math will need to occur. DHHL requires that 25% equity remains in your home. This means that if the appraisal comes in at $200,000 then $50,000 of equity needs to remain debt free. The difference is $150,000. If your current mortgage balance is $100,000 then you would have about $50,000 to take out to pay off debts, etc… However, if you current mortgage balance is $150,000 then you have no access to equity to take out.

Say you fall into scenario one where you have access to $50,000 then you need to make sure your income to debt ratio allows you to qualify for the refi. Something unique to DHHL properties is that even though your intention is to pay off your debt with the funds taken out they still require the lender to use the monthly debt in the income to debt ratio. So this is a hurdle you will need to overcome.

From what I learned only the big banks do DHHL loans… not sure if this is true since I didn’t call all of them. Central Pacific used to do them and no longer does. Bank of Hawaii, First Hawaiian Bank might. So far only HomeStreet seemed to have the best insight; however, call Tom since whoever my client spoke to earlier didn’t seem to know much and gave out wrong information.

Tips for Remaining Flu-Free

2012-01-06T20:21:08Z

Flu season is the period between November and March. During this time, Americans' chances of contracting the illness will increase by as much as 80%. Upon learning this, the staff here at YOU Magazine felt compelled to help even the playing field.

The flu is a contagious respiratory illness that is caused by the influenza virus. While the common cold is also a virus, and it carries many of the same symptoms as the flu, its effects are generally less severe. In addition, a cold typically doesn't have the same potential complications. Pneumonia, infection, dehydration, and the worsening of existing medical conditions–such as asthma and diabetes–are just a few examples.

Every year, anywhere from 5% - 20% of our country's population contracts the flu. Over 200,000 of us are hospitalized because of it, and roughly 36,000 actually die from it. With numbers this alarming, you can understand why it's important to educate yourself.

The flu virus is most commonly transmitted in one of two ways. The first is by inhaling saliva particles left behind by a sneeze or a cough from someone who is infected. The second, more common way is via hand-to-hand (or hand-to-object) contact. Now that we know how it's contracted, let's examine how you can protect yourself this winter.

Some Hand-y Advice
Since our hands play a big role in how we catch the flu, we'd be remiss not to make them the primary focus of our battle. To begin with, you can reduce your chances of contracting the virus by as much as 45% by simply washing your hands at least 5 times a day. This is especially true after any visits to public places (e.g., gyms, shopping malls, public transportation, etc.).

We suggest using a hand soap that is NOT antibacterial. Many studies have shown that antibacterial soap is no better at killing harmful bacteria than regular soap. This is mostly due to the amount of time needed for the antibacterial agent(s) to be effective. Most people simply don't wash their hands long enough for this to happen. Some scientists also theorize that any bacteria left behind after washing with this type of soap build up a resistance to the antibacterial agents.

When washing your hands, nothing beats a thorough cleaning using warm water, heavy friction, and soap. Give your hands a good rinse and then wash them a second time. It is also recommended that you dry off with a disposable paper towel, as cloth towels are a breeding ground for germs.

When washing your hands in a public restroom, it is advisable to take 2 paper towels from the dispenser; one for turning off the faucet and the other for drying and using as a barrier between your clean hands and the door handle when exiting. It may sound hard to believe, but many people never wash their hands, even when using a public restroom.

Now that your hands are clean, there are a few more things you'll want to do. First, limit the contact between your hands and face, especially the mouth, nose, and eyes, as these areas are major portals for transferring the bacteria on your hands into your body. If you must touch your face (i.e., scratch your nose or rub your eyes), do so with the backs of your knuckles, as they typically contain much less bacteria than your fingertips.

In the spirit of keeping your hands out of your face, stay away from any "communal" food. A bowl of popcorn at a bar, a basket of chips at a party, and a plate of cookies in the office breakroom all fall into this category. You'd be surprised at the bacteria typically found on these types of foods.

One last bit of advice is regarding the use of hand sanitizers. Starting with the good news, they are a great item to keep in your car's glove box or your purse, especially when you're at a location where washing your hands is not an option. The bad news is they are not a great substitute for the regular washing of your hands.

Many of these sanitizers don't contain enough alcohol to kill certain bacteria. The other problem is that overuse of these products can lead to some very dry skin. We suggest using them only when necessary. Before applying the sanitizer, rub your hands together vigorously for at least one minute. This will help to break up most of the cold and flu germs. After using the sanitizer, apply a little moisturizing lotion to keep your hands from drying out.

Cleanliness Equals Healthiness
One of the worst practices in terms of spreading germs is using your hands to cover your mouth when sneezing or coughing. Germs cling to bare hands and are easily passed back and forth. If you feel a sneeze or a cough coming on, it is much better to turn your head away from the people around you and cough into the air.

Let's talk about facial tissues for a moment. While it's a great idea to keep plenty on hand, it is important to remember that individual tissues are not meant for multiple uses. Use them once and throw them away. Keeping used tissues in your pocket or leaving them lying around your home is a great way to spread germs.

During flu season, it is imperative that you practice due diligence in keeping your household surfaces clean. Telephones, computer keyboards, countertops, light switches, remote controls, and doorknobs are all great places for germs to hide.

Your toothbrush is a virtual breeding ground for germs, so be sure to replace it on a regular basis. We also recommend storing it in hydrogen peroxide. If you do so, it's extremely important to rinse it thoroughly under running water prior to brushing your teeth. Another method for ridding your toothbrush of germs is to pop it in the microwave for 10 seconds before you brush.

Maintaining Your Immune System
Another key to remaining flu-free involves maintaining your overall health and keeping your immune system strong. In that spirit, we'll begin by saying that you must learn to listen to your body. From eating and exercising to relaxing and sleeping, your body has the ability to tell you what it needs and when it needs it. The hard part is responding properly to its requests.

Our first bit of advice is to keep your body hydrated by drinking plenty of water. The average adult needs to drink a minimum of eight, unce glasses a day to achieve the proper level of hydration. Doing so will help to keep your system flushed of various toxins.

As you increase your intake of water, you'll also want to decrease your alcohol consumption. Alcohol suppresses the immune system on many levels. It's also notorious for dehydrating the body.

Everyone knows that smoking cigarettes is bad for your health, but did you know that regular smokers have a higher rate of sickness than non-smokers? Statistics also show that when a smoker contracts either a cold or the flu, the effects are more severe than for a non-smoker.

The reasons for this are very simple. Cigarette smoke dries out nasal passages as well as paralyzes cilia, the tiny hairs that line the membranes of the lungs and nose. The wavelike movement of cilia helps to sweep viruses from the body. It is estimated that one cigarette can paralyze cilia for up to 30 minutes.

Our next piece of advice is to get your exercise! Aside from the obvious reasons, aerobic exercise causes your heart to pump larger quantities of blood at a faster rate. In turn, your breathing rate increases in order to transfer oxygen from the lungs to your blood. The end result is that you sweat. This process has been shown to increase virus-killing cells within the body.

Eat a balanced and healthy diet. Once again, it sounds obvious but a diet consisting of natural, whole foods plays a huge part in maintaining general health. Did you know that the regular consumption of certain food items has actually been shown to reduce colds and flu? Yogurt and garlic are two in particular. Any vegetables or fruits that are dark green, red, or yellow in color should also be a part of your normal repertoire, as they are chock full of phytochemicals, natural plant chemicals that boost the potency of the vitamins that are in the food you ingest.

Get a flu shot every fall. The CDC recommends this type of shot for anyone who wants to avoid the flu, but you should consult with your doctor to see if it's right for you.

Relax and Breathe
The following strategies have been shown to cut down on both colds and flu:

Get your fill of fresh air every day. Centrally-heated air not only dries out nasal passages, making you more susceptible to viruses, it also circulates germs within the room. If possible, it's a good idea to leave one or two windows in your home slightly opened. This practice will work wonders for keeping germs at bay. At the very least, turn down the heat in your home by 5 degrees.
Sit in a sauna at least twice a week. Several studies have shown this practice to cut incidents of colds and flu in half. The theory is that the air inside a sauna is higher than 80 degrees Fahrenheit, a temperature too hot for the viruses to survive.

For those who don't have access to a sauna, a run-of-the-mill hairdryer is a good replacement. Set the hairdryer on warm, hold it 18 inches from your face, and breathe deeply. Do this twice a week for 20 minutes, and you'll reduce your chances of getting sick by 50%.
Find activities that will control your stress and help you relax. Study after study has shown that people who experience emotional stress have weakened immune systems and are more likely to succumb to viruses. In turn, it's been shown that relaxation causes interleukins–the hormones within your immune system that fight microbial infection–to increase.

There you have it, our best flu-fighting advice. While very few of you will use all of the tips provided, at least you have a better understanding of how to protect yourself. Avoid unnecessary contact with sources known for bacteria, take the proper precautions when it comes to hygiene, and don't allow your immune system to become weak. Keep that in mind, and there's a good chance you'll stay healthy and have a happier holiday season.

Came across this article in You Magazine provided by Crystal Achohido and thought it was important to share it since we have three more months to get through hopefully flu free.

What are Interest Rates?

2012-01-05T18:43:30Z

According to Wikipedia "An interest rate is the rate at which interest is paid by a borrower for the use of money that they borrow from a lender. "

Basically, if I lend you money and I want to make money lending you money then I will charge you a fee which is otherwise known as Interest. Based on the time period we allow you to pay for the use of the money I lent you and how much I charge you the Interest Rate is calculated.

Bottom line all you truly need to understand is the lower the interest rate the less money you are being charged to use the money. The higher the interest rate the more money you are paying to use the money.

Which leads to the lower the interest rate the more money you can borrow. That is why this market is so wonderful for those with decent credit and some money saved for closing costs and or a small down payment.

To go further, for one point of interest increase you loose approximately $50,000 in buying power. HUH? I know it is a little confusing let me give you an example. For example, if you can qualify for a $350,000 home at 4% interest and then the rate increases to 5% you would only be able to qualify for a $300,000 home.

This is why we say while interest rates are low Buy if you can. Once they start to increase you loose buying power.

In today's real estate market Buyers are experiencing not only low interest rates but low list prices. This is the time to Buy. Contact a loan officer today to find out what you can qualify for it only takes 20 minutes over the phone to find out. Here are a few people who know what they are doing and can answer any questions you may have in regards to financing:

Alan Fentriss, SVP Loan Manager
or
Crystal Acohido, SVP Loan Manager

Copyright © 2012 The copyright in this website and the material on this website (including without limitation the text, computer code, artwork, photographs, images, music, audio material, video material and audio-visual material on this website) is owned by Mike Fujita and Gayle Fujita Ramsey.

2012 Real Estate

2012-01-04T23:46:59Z

I'm going to go out on a limb here and say that this year is going to be a really great year to buy or sell Real Estate in Hawaii.

Why, you ask? Well, with sales prices remaining low in most areas of Hawaii and interest rates ridicoulsy low how it could it be bad? Some want the market to drop even more and well that will be scary. For the market to drop even lower something bad is going to have to happen. I'm for no bad things happening.

Although the market on the mainland is still sliding in many areas there are some just like Oahu that are actually recovering nicely. This means that some areas like Manoa, Kailua, and Hawaii Kai have been slowly recovering value or holding their own. Other areas such as Ewa Beach, Kapolei, and West Side are still seeing prices drop due to the large inventory of homes still available either by short sale or lender sales.

The areas where prices are still dropping are perfect opportunites for first time home owners. Of course we all want to buy when the market is at the bottom but you don't know when the bottom has been hit until it is actually on the up swing which means you missed the boat. If you are planning on buying and living in the home for five to ten years then you don't need to worry too much about finding the bottom. If you are planning on selling sooner than this then... yes, be very careful.

I bet when you read "selling" in the first paragraph you may have laughed or snickered. Prior to understanding the market I might have too. However, I have to say it is a good time to sell and possbily move into a bigger home or a home closer to work... well that is if you bought in the early 2000's and didn't refinance your home to the hilt when interest rates dropped.

Yes, you will get less than you could have prior to 2008 BUT you are also going to be BUYING a home that has been devalued a bit as well. Interest rates being what they are you will most likely qualify for more as well.

This market is ripe for those who planned carefully, lived frugally, and are ready to take advantage of it.

Lets rock and roll...

Copyright © 2012 The copyright in this website and the material on this website (including without limitation the text, computer code, artwork, photographs, images, music, audio material, video material and audio-visual material on this website) is owned by Mike Fujita and Gayle Fujita Ramsey.

Happy New Year!

2012-01-04T23:27:13Z

Life is good. Three days into the new year and I'm excited about what this new year will mean to us.

Goals have been set and we so far have met them. The other day I heard on the radio that if four people set resolutions one of us will have abandoned these goals by the end of the first week of January. If you make it through the first week, two of of the three remaining will have given up by July 1st. I want to be the one left standing of the four. What about you?

Maybe if we declare our goal we may be more inclined to stick it out. Feel free to declare your resolution or goal here and we will check back with you on the 7th of January to see if you are still hanging in there. If you are, then we will definitely check back with you on July 1st.

Here's to making it to the end... hope to see you there.

Copyright © 2012 The copyright in this website and the material on this website (including without limitation the text, computer code, artwork, photographs, images, music, audio material, video material and audio-visual material on this website) is owned by Mike Fujita and Gayle Fujita Ramsey.

Welcome

2012-01-02T21:38:40Z

Welcome to my blog. Please check back soon for new entries.

Copyright © 2012 The copyright in this website and the material on this website (including without limitation the text, computer code, artwork, photographs, images, music, audio material, video material and audio-visual material on this website) is owned by Mike Fujita and Gayle Fujita Ramsey.

BLOG.GREATHAWAIIANHOMES.COM

Radio Blog Cast - Home Buying Process

What is Appraised Value?

5 Common First-Time Home Buyer Mistakes

Just Looking what does that mean?

7 Smart Strategies for Kitchen Remodeling

7 Smart Strategies for Kitchen Remodeling

Leasehold (LH) v. Fee Simple(FS) v. Fee Available (FA)

You have a Buyer Now You Need to Keep Your Home Sale from Falling Apart

7 Tips to Staging Your Home

7 Tips for Staging Your Home

Why We Use Comparable Sales to Price Your Home

DHHL - Department of Hawaiian Homelands

Tips for Remaining Flu-Free

What are Interest Rates?

2012 Real Estate

Happy New Year!

Welcome