Wailea Real Estate Blog

Feds Announce Interest Rates to be Held

Thu, 11 Aug 2011 14:11:00 GMT

The Feds announced that they will be keeping interest rates low for the next two years. This is great news for home buyers as interest rates are at an almost all time low. This means if a home buyer takes a mortgage for $200,000 over 30 years at 4.32% the monthly payment would be $992/month. Their total interest paid over the term of the loan would be $157,153. If they took the same loan of $200,000 over 30 years at 5% interest their payment would be $1,074/month. A difference of $29,357 over the 30 years. So even if your not in the market to purchase a new home, you can benefit by refinancing your current mortgage. If you have any questions or would like more information, please feel free to call upon me. 808-385-7513

Act 48-Hawaii's New Foreclosure Law

Fri, 08 Jul 2011 16:19:00 GMT

Hawaii has passed a new foreclosure law intended to protect the people. The new law calls for all judicial foreclosures vs. non-judicial foreclosures. The downside of this is that the amount of foreclosures will choke the system, taking more time and more money. The most important thing for the consumer here is to become educated by talking to a HUD-certified housing counselor. Another solution would be a short sale. That is where the home is sold for less money than is owed the bank. This can be done using a realtor who is specially trained in negotiationg short sales. I am a certified short sale specialist who can help if you or anyone you know if is in this situation. Please feel free to call me at 808-385-7513.

Only One Home Remains at Papali, Wailea

Wed, 22 Jun 2011 00:00:00 GMT

The best kept secret

on Maui - only one home remains

At Papali Wailea, great design and very good value is getting noticed. With recent sales activity at Papali, only Home 19 remains. This home lives large with high ceilings, open floor plans, private lanais, and sunset views. All set in a lush ten-acre garden setting, this community of 24 single-family homes, offers neighborhood amenities, a fitness pavilion, stunning infinity edge pool and lots of room to relax for an hour or a day. Come visit Home 19 and experience the custom design and beautiful views. Whether you are around the corner or a world away, now is the best time to visit Papali.

Visit Papali Wailea for a personal tour, Tel 808. 385.7513 For more information or to request a DVD and information packet, please call Joanne Noruzi R(B) at 808.385.7513 or e-mail Joanne@YourMauiHomeConnection.com. On the web at www.PapaliWailea.com

Maui Home Sales, May 2011

Sat, 11 Jun 2011 15:50:00 GMT

Maui, Hawaii is one of Americas favorite vacation spots which makes it the perfect placed for a second vacation home. The Realtors Association of Maui puts the average family home at $681,682 verses $672,575 last year. It is a great time to purchase a home or condo on Maui since the prices have remained flat with some areas still declining. Oceanfront luxury homes and condos on Maui are at an all time value. This month we have the Maui Film Festival in Wailea. There's a great line up with lots of special events. Here's the link to their website.

http://www.mauifilmfestival.com/

Best Places for Second Homes

Mon, 07 Mar 2011 15:19:00 GMT

Barron's just rated Makena, Maui one of the best places in the world for a second home. In seeking out these havens, Barron's looked for beauty, comfort, convenience and value. The majority of the 15 locales that were voted in their annual rankings of best places for second homes climbed in prices. They also choose places they believed had hit bottom and are rising or are ready to rise. Barron's is reporting that the average 2009 price of a home in Wailea/Makena was $1.5 million and for 2010 the average price was $1.7 million. If your ready for your home in paradise call me today and don't forget your flip flops.

New Retail Develpment Site "Piilani Promende"

Sat, 12 Feb 2011 14:39:00 GMT

Kihei is looking at two proposed projects that include a retail development and an outlet mall on 68 acres mauka (mountain side) of Piilani Highway. The development group Eclipse Development is proposing approximately 703,000 square feet of retail space and restaurant spaces and over 3,700 parking spaces. Some of the proposed retailers that have been mentioned are Target, Wal-mart and Home Depot. To view prospective site plans please visit http://www.fforealty.com/coming-soon-maui-outlet-center. For more information please feel free to contact me at 808-385-7513 or Joanne@YourMauiHomeConnection.com

Lana'i Property Auction

Fri, 07 Jan 2011 13:50:00 GMT

Are you looking for the best buy in Hawaii right now? There will be an auction of properties on the island of Lana'i Sunday, the 16th of January. This is a once in a lifetime opportunity to purchase these properties well below their original sale price. If you would like to be upcountry Lana'i in The Pines the starting bid is $435,000 for a 2bd/2ba or 3bd/3.5ba. Their previous asking prices started at $965,000. If you want to be closer to the beach there's the Terraces at Manele Bay starting at $695,000 or the Palms at Manele starting at $845,000. These properties originally started at $1,500,000 and $2,675,000 respectfully. All properties on Lana'i offer beautiful ocean views and serene living in a picture perfect resort setting. There 's world class golf opportunities and beach amenities. For further information please call me at 808-385-7513.

Should I Buy a Home Now?

Wed, 15 Dec 2010 16:13:00 GMT

I'm often asked if this is a good time to buy a home. Some clients are concerned that home prices may fall further than they have already. They are assuming that the best course of action is to wait for the bottom in the market and then buy. The problem with this approach is that you don't know where the bottom is until you see it in the rear view mirror, meaning until you've missed it!

Home prices are one factor in determining your cost of ownership, but so are interest rates and financing availability. Even though interest rates have gone up in the last six months, they are still near historic lows. Since your monthly mortgage payment is a combination of paying down your principal and paying the interest owed, if home prices come down a little further but interest rates up, it could cost you even more to service a mortgage on an identical home!

While a home is a major investment, it is also the center of your personal life. It's important to live in a home that reflects your taste and values, yet is within your financial "comfort zone." To that end, it may be more important to lock in today's relatively low interest rates and low home prices, rather than to hope for a further break in prices in the future.

Please give me a call if I can be of any assistance in determining how much home you can afford in today's market.