You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!
VA Announces the 2019 Loan Limits For Loans Closed on or After January 1, 2019
In Circular 26-18-17 VA announced the 2019 county loan limits effective for loans closed on or after
January 1, 2019.
County loan limits do not apply to Interest Rate Reduction Refinance Loans (IRRRLs) as VA guarantees 25 percent of the loan amount on a IRRRL, regardless of whether the loan exceeds the limit for the particular county.
VA loans (not applicable to IRRRLs) closed on or after January 1, 2019 are eligible for the higher county loan limits even if the application date was in 2018.
If you are a doctor with deferred student loans, our Doctor Loan Program can help you save time and money on the purchase of your NEW home or refinance. If you are a qualified doctorate medical professional (MD, DDS, DMD, OD, DO eligible)with student loans deferred 12 months or more our team has a lender ready to help you.
If you have questions or would like to learn more please reach out I am happy to help!
Did you know that although interest rates have been climbing these last few years, they are still relatively low historically?
That’s because over the past fifty year, interest rates on a 30 year fixed rate mortgage ranged from a high of 18.63% to as low as 3.31% in 2012.
The graph below provides a visual of the average interest rate on the 30 year fixed rate mortgage. When put into a historical perspective, it’s clear that even though rates are rising, they remain at historically low levels.
To learn how you can benefit from today’s historically low rate for a purchase in Hawaii, contact me today. I would be happy to help you find a licensed mortgage professional.
With all of the facts and myths surrounding homeownership, you may be left wondering if you would be better off renting. On one hand, homeownership offers the possibility of a positive return on your investment, while on the other renting lowers your financial risk and enables quick mobility.
Affordability – it is cheaper to own in most of Oahu. According to Rent Jungle as of August 2018, average rent for an apartment on Oahu, HI is $1,655 (see report)
Force Savings – The amount you pay for your home goes towards building your equity. On the other hand you could keep paying down your landlord’s mortgage. I’m sure they appreciate it…
Tax Advantages – Property taxes and interest can be itemized for tax deductions. Check out this handy matrix.
Stability – With fixed rate mortgages, your payment will stay the same each month. On the other hand you are at the mercy of potential rent increase yearly! Oahu rent increase
Improved Credit – When mortgage payments are made on time, you can achieve a better credit score. We know everyone likes to brag about their 800 credit score at the BBQ.
Take a look at this awesome matrix to see how much you will be throwing away renting over the next few years.
The median price for single-family homes on Oahu reached an all-time high in August, according to resales figures released today by the Honolulu Board of REALTORS®. The analysis conducted by the Board, using data collected from its computerized Multiple Listing Service (MLS) system, offer the following statistics:
|Number of Sales||Median Sales Price|
|August 2018||354 -2.2%||$810,000 +3.0%|
|Number of Sales||Median Sales Price|
|August 2018||521 -9.4%||$427,000 +1.9%|
In August, the median price for single-family homes increased by 3.0 percent to reach a new record of $810,000, which was previously set in June 2017 at $795,000. The median price for condominiums rose by 1.9 percent to $427,000. Sales for single-family homes dipped by 2.2 percent and condominium sales also decreased by 9.4 percent from the same month last year. According to the Days on Market indicator, the median days for single-family homes was 15 and 18 days for condominiums.
“While the median price for single-family homes has been pushed to a new high, homebuyers are also finding properties at or below the $600,000 price range,” said Darryl Macha, president of the Honolulu Board of REALTORS®. “Though overall inventory is tight, we are seeing pockets of the island where inventory is increasing, including the Ewa Plain and to some extent, Central Oahu. With the decline in pending sales for both single-family homes and condominiums, buyers may be experiencing a bit of ‘fatigue’ in a market where multiple offers have been common and are taking a pause in their home search. It’s something that other markets are also seeing.”
The information contained in this report is provided to the National Association of REALTORS® and the Hawaii State Department of Economic Development, Business and Tourism for its official reports. This report reflects information about resales of existing properties only and does not include new home sales. All of the MLS information is compiled from sales reported during the cited months; this data is known only after closing of escrow.
Info provide by http://www.hicentral.com/mpr/mpr-2018-08.php
I am a total troll when it comes to looking for “deals” on the Oahu real estate market.
I look every single day for opportunities for my clients, and it is very rare that I find something special that does not go under contract within hours after my discovery. Well, here are five homes that I found last night that are potentially the best deals in
(Click the neighborhood to view)