Hawaii Real Estate | Hawaii Relocations | Hawaii Home Buying & Selling

Calling for showing appointments are a very timely part of a Realtors® list of tasks for home buyers. We have more than enough on our plate when thinking about our Zoning Laws and then take into consideration the type of loan the  Hawaii home buyer is acquiring for that home out in the ocean. Searching for those ‘special and specific' types of properties is another big task.

We can spend hours upon hours beating the MLS to death. Then we call for showing appointments and do not get a response for half the calls or emails we have made.  (WHY? I answer all my calls, emails and text messages for all requests for my listings!  {{{SIGH}}}  We research and find out all there is to know about the possible properties you would like to view.

At a Glance Loans and Your Oahu Property Search

• VA Loan Transaction Properties:  Search out the MLS for properties that would well suit the Hawaii Military and Veteran of the Armed Forces Home Buyer.  Properties have to have all permits and not have any major defects. The appraiser will pick up on it and when the report goes to the VA office they will issue their VA Notice of Value (NOV).   You can guarantee that there will be a stipulation that the home appraised at X amount but the screen that had a hole in it will have to be fixed!
• FHA Loan Transaction Properties:  The condo either has to be FHA approved or a PUD.  If there is NOT a 51% or over owner occupancy level then it is NOT a green light for a loan. There is much to take into consideration and you cannot...I repeat cannot think that just because you have 3.5% down that you can buy anything out there.  If the FHA approval has lapsed make sure your loan officer knows how to get all documentation together to get it approved again. It may take a couple of weeks longer but it can be done!
• USDA Loan Transaction Properties:  The good deal is that you can get a 100% financing and up to 2% more to cover some of your closing costs.  The restrictions are that it is has to be in a designated RURAL AREA on Oahu. 

Following are the USDA eligible areas on Oahu:

•  
  • Village Park and Royal Kunia Subdivisions
  • Ewa Beach
  • Makakilo
  • Kapolei
  • The ENTIRE Waianae Coast
  • Central Oahu from Whitmore Village, North to the North Shore and the Kunia area
  • The ENTIRE North Shore Area
  • Windward Oahu from Kahuku, South to Ahuimanu
  • Waimanalo from Olomana Golf Course to Seal Life Park

• Finding out everything about  the property: If it is NON conforming (even if you have all cash down)  there could be major problems down the road.   Is there anything you should know? Coastal, preservation, conservation, agricultural, country land have different zoning laws.  Are there State and City/County permits? I have to  get all the pertinent details so I'm not wasting my buyer's time. 

The REAL scoop on that property you love.....

Could save you time and heartache....

...and major headaches.

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It IS a good time to buy IF your situation calls for it. You have all your finances in order and you are contemplating the reasons you started thinking about owning your own home. 

Over the past few months our Hawaii Homes Market decline in sales due to the very strict guidelines for loans. The good part is that if you are seriously considering Buying your Hawaii Home or Condo and you have good credit, realistic goals and a reasonable down payment you just may be on your way to Home Ownership.

A Hawaii VA Home Loan is the most likely the best candidate for Active Duty or Veterans of the U.S. Armed Forces.   With 100% financing the Hawaii Military Relocation client definitely does not have a whole lot of money to put down. Just remember to ask your local lender what you need to obtain a PRE APPROVAL.  

If your situation says that the time is right to own your own home then you most likely have your finances in order anyway. You will know if it's the right time and your most important priority is that you are looking for a place to  raise your children and have control over the home you live in.

Is now the time for you to own your own home?

Prices are lower, interest rates are still at a reasonable rate......

A home you can call your own.

"Why Can't You Show Me Properties Before I'm Preapproved for a Loan?"

I have had at least a third of my ‘potential' clients ask me this question and to tell you the truth it's a very valid question for the first time home buyer.  The excitement of making that first initial decision to purchase a home was their first step and then they immediately want to go out looking at that dream home with four bedrooms and a perimeter lot with a ‘to die for' view of the ocean.

It's 1.5 million dollars.

What is your desired monthly mortgage payment?  In other words, are you comfortable with paying XXX  per month for that dream home? The first time home buyer will usually have an amount in mind that is one third the payment per month for that million dollar home.

Speak to a Hawaii Local Lender who will gather all your information (income, credit, debt etc.) so they can conclude what price range you are qualified for and are comfortable with for that monthly mortgage payment.  The loan officer will also give you options for loan programs that will suit your needs.

Getting preapproved will also save time and heartache.  How?  Knowing what price range you're approved for will keep you in a realistic frame of mind in searching for that dream home. There is no sense looking at million dollar homes when you are qualified for a half a million dollar home.  We make appointments and look at your selected price range of homes (or condos/townhouses) so we aren't spinning our wheels and wasting time.

And......

No broken hearts over a "to die for home"

........ that you can't afford.

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Celeste "Sally" Cheeseman is a Realtor-Associate with Century 21 Liberty Homes in Mililani, Hawaii. With a sharp understanding that a listening ear is the key to a client's needs  she serves the island of Oahu (Honolulu County) and all Hawaii Military Relocating to Hawaii, Hawaii Retirees, Hawaii Job Transfers and Hawaii Residents. Website: www.hawaiihomesmarket.com

So..... you missed out on that $8,000 first time homebuyer tax credit, huh?  Think again! Back when everyone was running around trying to buy just anything to get that credit you were sitting on the fence and waiting.  Do we wonder why? I THINK NOT!

You, the Hawaii Home Buyer decided that you were going to wait.... but now you are jumping off that fence because:

1. INTEREST RATES WENT DOWN FURTHER!  Back when everyone was buying ...just for that credit ....you were watching the interest rates intently.  You knew the tax credit would only bring those that were thinking about short term goals and knew in the long run you would save more! Now look at the lower interest rates!  Lower interest rates equal lower monthly payments!
2. THE DIFFERENCE IN PAYMENT WITH A LOWER INTEREST RATE!  Back when the interest rates were 6% you knew you would pay $1799.00 per month on a mortgage payment for a $300,000 condo. Then it dwindled down to 4.5% to give you a monthly mortgage of $1520 per month!  And NOW?  Well, you do the math!
3.  MOST SELLERS REDUCED PRICES OF THEIR HOMES! From a year ago the prices have steadily gone down and more so  in some neighborhoods than others. For instance,   Hawaii still has many short sales and foreclosures to go through and we are usually behind the Continental United States 6-12 months.
4. HIGHER  INVENTORY  OF CONDOS, TOWNHOUSES AND HOMES!  It may not be for all neighborhoods but there are a few Honolulu County (Oahu) Condos and Homes in neighborhoods with a high inventory.  Now that the tax credit is no more there are more homes on the market and therefore lower prices with sellers trying to sell their homes at deals better than their neighbors.
5. IF YOU'RE US MILITARY YOU MAY QUALIFY FOR THE EXTENDED CREDIT! If you were on "Official extended duty" (meaning any period of extended duty outside of the United States for at least 90 days during the period beginning after December 31, 2008 and ending before May 1, 2010) then you may still be qualified for the credit!  Read more here>>Hawaii Home Buyer | SOME Military Qualify for Extended Tax Credit

Buyer's are JUMPING off that fence now because they realize that there are more benefits NOW than before!   You decide if the time is right for you and if it is, then you're jumping off that fence too .... and buyng your your OWN Hawaii home now!

More information: 

•  Hawaii Home Buyer Advisory
• Hawaii Homes Market Report for Mililani October 2010
• Hawaii Military Relocation Information

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"Sally" Cheeseman  is a Realtor-Associate® with Century 21 Liberty Homes in Mililani, Hawaii. With a sharp understanding that a listening ear is the key to a client's needs  she serves the island of Oahu (Honolulu County) and all Hawaii Military Relocating to Hawaii, Hawaii Retirees, Hawaii Job Transfers and Hawaii Residents.