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

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Home Buyers Are JUMPING Off that Fence!

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: 

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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.

                                                       

 

Celeste "Sally" Cheeseman  is a Realtor-Associate® and Certified Residential Specialist (CRS) 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 Relocations, Hawaii Retirees, Hawaii Job Transfers and Hawaii Residents, Home Buyers and Sellers.

 

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Comment balloon 14 commentsCeleste "SALLY" Cheeseman • November 24 2010 05:34PM

Comments

Sally,

Now is a great time to invest in real estate!

Sounds like my blog today.

Your's is great advice!We've got a new Congress coning in January! Now is the time to jump! People needing a home can easily jump today's fence, that May not be so easy soon!

Happy Thanksgiving!

Bill

Posted by William J. Archambault, Jr. (The Real Estate Investment Institute ) over 8 years ago

Great post, Sally!

Posted by Chandler Real Estate Liz Harris, MBA, #ChandlerRealEstateAgent (Liz Harris Realty) over 8 years ago

Sure is Bill!  Happy Thanksgiving to you too!

Thanks LIz

Posted by Celeste "SALLY" Cheeseman, (RA) AHWD CRS ePRO OAHU HAWAII REAL ESTATE (Liberty Homes) over 8 years ago

Sally, I hope the fence is not too high. I have a home here in MI that I have for sale and people are still on that fence. I may have to wait for the winter thaw. Enjoy that Hawaii sunshine.........

Posted by Craig Snead, Real Estate Investor (Quality Home Investments, LLC / Dearborn Heights, MI) over 8 years ago

Craig:  You see the fence in the picture?  Not high at all :)

Posted by Celeste "SALLY" Cheeseman, (RA) AHWD CRS ePRO OAHU HAWAII REAL ESTATE (Liberty Homes) over 8 years ago

Sally - love all of your points.  I couldn't agree more.  I think buyers are slightly aware of some or all of these facts, but the problem is they are not adding up the entire equation, which equals BUY NOW!!!.  Great post.  SUGGESTED!

Posted by Alex Morris - Austin Real Estate Agent over 8 years ago

It has definitely picked up but it always picks up for me this time of year.  Our "spring" selling season starts Jan 2!

Posted by Renée Donohue~Home Photography, Western Michigan Real Estate Photographer (Savvy Home Pix) over 8 years ago

Alex:  BUY NOW!  Depending in the circumstances...they need to realize that once the interest rates go up...it won't make a hill of beans what the purchase price is....raise the interest and up goes the monthly mortgage by hundreds pre mo!

Renee:  We have year round so it just depends on the needs of the buyer. Military, residents, you name it....we got it :)

Posted by Celeste "SALLY" Cheeseman, (RA) AHWD CRS ePRO OAHU HAWAII REAL ESTATE (Liberty Homes) over 8 years ago

Sally, excellent points.  There are huge saving to be made right now with the combination of extremely low interest rates, and reduced house and condo prices.  The only place left for rates and prices to go is up, so now is a great time to buy before that happens.

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) over 8 years ago

Ya hoo for everyone  jumping off that fence.  Now IS the time, like never before.  Good post, Sally and happy Turkey day!

Posted by Barbara Chatterton, Greater Madison Wisconsin Area Realtor (The Stark Company Realtors, Madison WI) over 8 years ago

Good things to remember S.  It's a terrific time to get a piece of the American Dream.

Posted by Cameron Novak, Featured Corona Real Estate Agent Team (The Homefinding Center) over 8 years ago

George: What part of saving on monthly payments vs. a bit lower on purchase price do they not understand?  You're right...only place for interest rates to go is ....UP

Barbara: Yahoo indeed! Happy Thanksgiving to you all!

Cameron: Sure is!

Posted by Celeste "SALLY" Cheeseman, (RA) AHWD CRS ePRO OAHU HAWAII REAL ESTATE (Liberty Homes) over 8 years ago

Sally - another great blog post! Purchasing now gets people into their new home before the first of the New Year. That means they get a tax credit (at least down here) if they homestead that property.

Posted by Barbara-Jo Roberts Berberi, MA, PSA, TRC - Greater Clearwater Florida Residential Real Estate Professional, Palm Harbor, Dunedin, Clearwater, Safety Harbor (Charles Rutenberg Realty) over 8 years ago

Sally- I love the photo you did! Very nice:) 

Posted by Katerina Gasset, Get It Done For Me Virtual Services (Get It Done For Me Virtual Services ) over 8 years ago

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