July 2011

Found 5 blog entries for July 2011.

 Though the building is only 1 year old, The Allure Waikiki has contracted  Jon Staub of Philpotts Interiors to enhance the design of the lobby and pool area at the Allure Waikiki in an effort to sell more units.  

The modifications are (updated) completed now, and here are the artist renderings of how they will look is a video I took of the grounds yesterday at an open house they had for Realtors. 

 There are still many units available, up to about 1633 square feet with 3 bedrooms, 2 baths. 

 The current price sheet as of November 2011 is below. Contact me for more info using the Contact button at the top of the page. Allure Waikiki condos on Oahu

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simple repairs to sell your home fasterGetting a home sold is rarely a simple task. This is particularly true when in the midst of a buyer’s market, such as the one we are experiencing right now. When the market is saturated with relatively low-cost homes for sale, it is more important than ever to find ways to make a home stand out.

Making a few simple and inexpensive repairs can significantly improve a home owner's chances of getting their home sold quickly. Whether you're selling in Hawaii or Downtown Austin, it's a good idea to check with a local Realtor regarding the most sought after styles and colors within your region.

Repair Floors as Needed

Making repairs to the floors in your home doesn't require tearing everything up and starting over again. Just make sure all the carpeting, tile

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Via Tim O'Leary, Honolulu Home Loans: 

HUD previously had announced that Fannie & Freddie would be discontinuing HIGH BALANCE Loans.  Now Fannie & Freddie have decided otherwise. 

The CONFORMING Loan limit will remain at $625,500 and instead of cancelling the HIGH BALANCE, they lowered it.  This is great news for the Oahu housing market, especially in higher markets like Hawaii Kai, Diamond Head, Manoa, and Kailua, where high balance loans are very common.  Prices in these neighborhoods start around $700k and go up to $15 million. 

The new loan limits effective 9/1/2011 are: 

 

Conventional Loan Limits - Starting 09/03/11

 
         
         

County

1-Unit

2-Unit

3-Unit

4-Unit

         
       
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Some clients of mine recently closed on a house in Ocean pointe for $680,000.  The VA loan at 4.25% with zero closing costs out of pocket has a monthly payment of $3443.50.  Add in the insurance and taxes, and their total payment is $3790.60. ocean pointe house

The house they bought is 4 years old, 2900 sqft, with 4 bedrooms, 3 baths.  That model house, similar ot this one shown, is currently for rent  on Craigslist for $3800.

They are already $10/month under the cost of renting, but then subtract the 35% Federal tax deduction they get on their mortgage, and they are several hundred dollars under the cost of rent. 

Why waste your BAH on rent when you can buy this great house for less per month? 

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I sat in a signing with a client this week and was reminded that VA loans are assumable by the next person buying the property, if they have VA eligibility.  That means they can apply for and take over the loan that the owner has been paying on, at the same rate.  My clients' rate was 4.25%, fixed for 30 years.  

In a few years, when rates go up to 6%, 7%, or even 10%, that assumable loan will make their house a LOT more affordable than others. 

FHA Loans are also assumbe.  From an FHA website:   You can assume an existing FHA-insured loan, or, if you are the one deciding to sell, allow a buyer to assume yours. Assuming a loan can be very beneficial, since the process is streamlined and less expensive compared to that for a new loan. Also,

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