Many consumers and potential homebuyers need help in finding the answers that will lead them to their ultimate goal of home ownership. Particularly in today's changing mortgage market and in Hawaii where home prices are among the highest in the nation, consumers need to seek the advise and guidance of professionals to answer their questions.
Freddie Mac will be sponsoring a Free Homebuyer Workshop this weekend that will be hosted by Central Pacific HomeLoans and emceed by local comedian Dave Lancaster.
Leonard Loventhal, Central Pacific loan manager, said "the company hopes to prequalify at least 100 people for a loan."
Established by congress in 1970 to help finance home mortgage lending, Freddie Mac createda flexible loan product that they called "Home Possible" for consumers with less than perfect credit.
Home Possible loans are offered for up to 100% of a home's value with no cash down for primary residences up to $625,000. The interest rates on these loans may be slightly higher than conforming market rates. "Honolulu households earning up to $124,950 regardless of household size may qualify for loans."
So if you're in the market for a mortgage, chances are you are in the market to buy a home. Please call on the Trinity Sales Team. We are the professionals with the experience and market knowledge to make your dreams of home ownership come true!
FREE HOMEBUYER WORKSHOP
WHEN: 9:00 AM Saturday, September 29th
WHERE: Pearl Country Club,
98-535 Ka`onohi St.
WHAT: Loan advice and prequalificatiion
MORE INFORMATION: Sabrina Ongos 778-0299
ON THE WEB?: freddiemac.com/homepossible
Friday, September 28, 2007
Wednesday, September 26, 2007
Large Estate Properties to Become Available for Purchase
Alexdander & Baldwin, the state's 4th largest land owner announced it's strategic five year plan that will include offering a small percentage of the 90,000 acres it owns as estates for those wealthy enough to afford a large piece of Hawai`i.
A&B expects the Buyer profile to be from off shore possibly foreign countries who desire a large estate on which to put up a home or two.
Some of the land includes 37 acres of Nahiku property on east Maui and Kaua`i is already being marketed on their website as an opportunity to create a "personal paradise."
If you are seeking a "piece of paradise" for yourself, be it a small condo or a large estate, the Trinity Sales Team would like to hear from you. With over 20 years of combined real estate success and the very latest market knowledge we have created a winning team! Put our team to work for you today!
A&B expects the Buyer profile to be from off shore possibly foreign countries who desire a large estate on which to put up a home or two.
Some of the land includes 37 acres of Nahiku property on east Maui and Kaua`i is already being marketed on their website as an opportunity to create a "personal paradise."
If you are seeking a "piece of paradise" for yourself, be it a small condo or a large estate, the Trinity Sales Team would like to hear from you. With over 20 years of combined real estate success and the very latest market knowledge we have created a winning team! Put our team to work for you today!
Wednesday, September 19, 2007
Feds Adjust Prime Down to Stabilize Rising Foreclosures
Although foreclosures in the state of Hawaii are up, 145 filings in August 2007 compared to 42 in August 2006, Hawaii continues to rank in the bottom nationally. These numbers are provided by RealtyTrac of Irvine, California. Much of the problem that has lead homeowners into foreclosure are the rising rates on adjustable mortgages now that the low teaser rates have expired and rates are adjusting dramatically higher. For those sub-prime borrowers who were seduced by exotic loans that allowed them entry into the market, the upward rates are more than they are able to bear. In addition homeowners are having difficulty refinancing these loans since the market prices in many areas of the country has dropped.
As a counter balance to the growing foreclosure problem, the Feds issued a dramatic slash to key interest rates.Although it takes some time for the market to feel the benefits of the cut, a 4.75 % is looking much better than the previous 5.25%. This is a Federal rate that banks charge each other for overnight loans.The prime rate also sets the mark for rates on home equity loans and credit cards.This rate may also effect car loans and some mortgages helping buyers.
It is clear from this action that the Federal government wants to put a stop to a housing market that is bottoming out, and wishes to stabilize business hiring and investment in order to keep the market growing as it has for the past six years.
Once again, Hawaii continues to show a healthy balanced market for both Buyers and Sellers. If you are interested in making a purchase or selling at this time, you can count on Trinity Properties to have the market knowledge and insight to help you make those big decisions in this changing times.
As a counter balance to the growing foreclosure problem, the Feds issued a dramatic slash to key interest rates.Although it takes some time for the market to feel the benefits of the cut, a 4.75 % is looking much better than the previous 5.25%. This is a Federal rate that banks charge each other for overnight loans.The prime rate also sets the mark for rates on home equity loans and credit cards.This rate may also effect car loans and some mortgages helping buyers.
It is clear from this action that the Federal government wants to put a stop to a housing market that is bottoming out, and wishes to stabilize business hiring and investment in order to keep the market growing as it has for the past six years.
Once again, Hawaii continues to show a healthy balanced market for both Buyers and Sellers. If you are interested in making a purchase or selling at this time, you can count on Trinity Properties to have the market knowledge and insight to help you make those big decisions in this changing times.
Monday, September 17, 2007
Kailua Home for Sale, A Must See!
Charming "Duck Road" is just a short walk to the silky white sands that stretches for miles along the blue waters of Kailua Bay.Located on Kainui Drive, aka "Duck Road" is this wonderful family home of 4 bedrooms, 2 of which are master suites, 3.5 baths, wood and quartzite flooring, exposed beam ceilings, extra large eat-in kitchen, granite counter tops, bay windows and plantation style doors. The property itself is over 9,000 sq.ft. with a garden resplendent with tropical landscaping and a 35' lap pool! Yours to enjoy, and own for $1,339,000. The Seller of this property is represented by the Mary Worrall Agency. Trinity Properties would be most proud and happy to represent you as our Buyer in the acquisition of this gem of a home!
Thursday, September 13, 2007
Beachfront Home Sales in Kailua
There were two recent oceanfront home sales in Kailua during the summer season that reflect Buyers faith that Hawaii is still a great place to live or to purchase property for real estate investment.
Both home were in the Kainalu Park neighborhood with wide sandy beach frontage. The home on Kailuana Lp. has 6 bedrooms, and 6.5 baths and is situated on over 30,000 sq.ft. of land with 125 linear ft. of beach frontage.The list price for this home was $6,495,000 and the actual price it sold for was $6,200,000, or 95% of the asking price.
The second property located on Kailuana Place, at Castle Point was situated on over 2 acres of land with 314 linear feet of beach frontage and has 2 homes on the property; a 4 bedroom, 4.5 bath home and a newer 3 bedroom, 2 bath guest cottage. The list price for this property was $12,800,000 and the actual sale price was $11,000,000 or 86% of the asking price.
There are currently 16 ocean/beachfront homes on the market in the Lanikai, Beachside neighborhoods of Kailua. They range in price from $4.1M up to $23.7M. The average price for these properties is $8.697M. If you are searching for a Hawaii property to call your own, whether it be on or near the ocean, mountains or city lights, please consider Trinity Proprties Sales Team for your real estate needs. We have over 20 years of sales experience in the luxury home market and welcome the opportunity to put that experience to use in helping you to find the home of your dreams!
Both home were in the Kainalu Park neighborhood with wide sandy beach frontage. The home on Kailuana Lp. has 6 bedrooms, and 6.5 baths and is situated on over 30,000 sq.ft. of land with 125 linear ft. of beach frontage.The list price for this home was $6,495,000 and the actual price it sold for was $6,200,000, or 95% of the asking price.
The second property located on Kailuana Place, at Castle Point was situated on over 2 acres of land with 314 linear feet of beach frontage and has 2 homes on the property; a 4 bedroom, 4.5 bath home and a newer 3 bedroom, 2 bath guest cottage. The list price for this property was $12,800,000 and the actual sale price was $11,000,000 or 86% of the asking price.
There are currently 16 ocean/beachfront homes on the market in the Lanikai, Beachside neighborhoods of Kailua. They range in price from $4.1M up to $23.7M. The average price for these properties is $8.697M. If you are searching for a Hawaii property to call your own, whether it be on or near the ocean, mountains or city lights, please consider Trinity Proprties Sales Team for your real estate needs. We have over 20 years of sales experience in the luxury home market and welcome the opportunity to put that experience to use in helping you to find the home of your dreams!
Monday, September 10, 2007
August Sales Activity Healthy for Buyers and Sellers
Aloha!
Lucky we live and own real estate in Hawaii! Below is the sales activity report for August sales on the island of Oahu. Once again we continue on a steady even pace with slight increases while the mainland US is a caught in a real estate downturn.
If you are considering a new home or investment, please give us a call. The Trinity Sales Team is ready with the latest market knowledge and experience to assist you with all of your real estate needs.
Posted on: Thursday, September 6, 2007
Oahu housing market holding steady
By Andrew Gomes
Advertiser Staff Writer
O'ahu's housing market continued to display its stamina last month, with slight increases in median sale prices of existing homes as many Mainland markets are tanking.
There even was a gain in the number of single-family home purchases in August, though observers said a one-month pickup in sales doesn't suggest a turnaround of what has been a two-year trend of declining transactions.
"The O'ahu housing market has remained relatively stable," said Berton Hamamoto, president of Property Profiles Inc. and the Honolulu Board of Realtors.
Some housing market watchers predict a drain on sales and perhaps prices from the recent implosion of the subprime lending industry, but others disagree, and the effect, if any, isn't expected to be reflected in sales data for another month or two.
For August, O'ahu single-family homes sold for a median $650,000, up 2.4 percent from $635,000 a year earlier and up 1.6 percent from $640,000 in July, according to Board of Realtors data.
The slight gains helped put the median for the first eight months of this year at $647,300, or 1.9 percent higher than the $635,000 median for the same period last year.
Condominiums sold last month for a median $325,000, up 6.6 percent from $305,000 a year earlier, but down 3 percent from $335,000 in July.
For the first eight months of this year, the median condo price is $325,000, up 4.8 percent from $310,000 during a year earlier.
"We're looking at a relatively flat market," said Leroy Laney, professor of economics and finance at Hawai'i Pacific University. "I think you will see a plateau that could go out for several years."
Laney said he expects there could be months or even years with mild price declines or appreciation ahead, but he doesn't forecast any big price drops.
Bob Ristelhueber, a 52-year-old freelance writer who moved to O'ahu after selling his home on the Big Island in February, believes prices are headed lower.
Ristelhueber said he checked out a few condo open houses last month, but since then none of the units he saw has sold, and the price was reduced for one. So his plan is to hold off on buying anything until next year.
"Hawai'i has a lot going for it, but no market is insulated from the housing downturn that's taken hold across the U.S.," he said. "Demand is anything but strong. Prices are going down."
For condos, year-to-date median prices for 19 regions were up in 13, down in four (Hawai'i Kai, Wahiawa, 'Ewa Plain and Maka-kilo) and about flat in two (Mililani and Waipahu).
Chason Ishii, president of Coldwell Banker Pacific Properties, believes that Hawai'i's growing economy with its ultra-low unemployment and rising personal income will sustain an overall stable real estate market.
"With all the fundamental economic indicators that are occurring, it looks like the O'ahu housing market continues to be extremely strong," he said.
Condo sales in August fell 14.7 percent to 495 from 580 a year earlier. Year-to-date condo sales are down 14.5 percent to 3,930, from a year earlier. Condo sales are in their second year of decline.
Inventory of homes on the market generally has been rising a little from month to month over the last several months. But for the last three months, inventory was lower compared with the same month a year earlier, which halted a trend for higher year-over-year inventory levels that had persisted since late 2005 when sales peaked.
There were 1,859 single-family homes on the market last month, down from 1,937 a year earlier and a nine-year high of 2,052 in November.
There were 2,386 condos on the market in August, down from 2,707 a year ago and below a nine-year high of 2,750 in September.
Single-family homes sold in August spent a median 44 days on the market before selling, up from 37 in July, but down from a recent high of 70 in February.
Condos spent a median 38 days on the market before selling last month, up from 35 in July, but down from a recent high of 59 in February.
Harvey Shapiro, research economist for the Board of Realtors, said the housing market in the next few months could be helped out if the Federal Reserve cuts interest rates later this month. Shapiro said mortgage rates in the last month have declined, which should help keep demand relatively strong.
However, there remains much uncertainty about how much of a drain on sales, if any, there will be from the recent drastic cutbacks in subprime lending, an industry that helped fuel demand for homes over the last several years.
The impact from fewer subprime loans wouldn't be reflected in home sale data until next month at the earliest because it typically takes one to three months for pending sales to close. So lending changes made in August may not start to be reflected until September sales are reported in October.
Reach Andrew Gomes at agomes@honoluluadvertiser.com.
© COPYRIGHT 2007 The Honolulu Advertiser, a division of Gannett Co. Inc.
All materials contained on this site are protected by United States copyright law and may not be reproduced, distributed, transmitted, displayed, published or broadcast without the prior written permission of The Honolulu Advertiser. You may not alter or remove any trademark, copyright or other notice from copies of the content.
Lucky we live and own real estate in Hawaii! Below is the sales activity report for August sales on the island of Oahu. Once again we continue on a steady even pace with slight increases while the mainland US is a caught in a real estate downturn.
If you are considering a new home or investment, please give us a call. The Trinity Sales Team is ready with the latest market knowledge and experience to assist you with all of your real estate needs.
Posted on: Thursday, September 6, 2007
Oahu housing market holding steady
By Andrew Gomes
Advertiser Staff Writer
O'ahu's housing market continued to display its stamina last month, with slight increases in median sale prices of existing homes as many Mainland markets are tanking.
There even was a gain in the number of single-family home purchases in August, though observers said a one-month pickup in sales doesn't suggest a turnaround of what has been a two-year trend of declining transactions.
"The O'ahu housing market has remained relatively stable," said Berton Hamamoto, president of Property Profiles Inc. and the Honolulu Board of Realtors.
Some housing market watchers predict a drain on sales and perhaps prices from the recent implosion of the subprime lending industry, but others disagree, and the effect, if any, isn't expected to be reflected in sales data for another month or two.
For August, O'ahu single-family homes sold for a median $650,000, up 2.4 percent from $635,000 a year earlier and up 1.6 percent from $640,000 in July, according to Board of Realtors data.
The slight gains helped put the median for the first eight months of this year at $647,300, or 1.9 percent higher than the $635,000 median for the same period last year.
Condominiums sold last month for a median $325,000, up 6.6 percent from $305,000 a year earlier, but down 3 percent from $335,000 in July.
For the first eight months of this year, the median condo price is $325,000, up 4.8 percent from $310,000 during a year earlier.
"We're looking at a relatively flat market," said Leroy Laney, professor of economics and finance at Hawai'i Pacific University. "I think you will see a plateau that could go out for several years."
Laney said he expects there could be months or even years with mild price declines or appreciation ahead, but he doesn't forecast any big price drops.
Bob Ristelhueber, a 52-year-old freelance writer who moved to O'ahu after selling his home on the Big Island in February, believes prices are headed lower.
Ristelhueber said he checked out a few condo open houses last month, but since then none of the units he saw has sold, and the price was reduced for one. So his plan is to hold off on buying anything until next year.
"Hawai'i has a lot going for it, but no market is insulated from the housing downturn that's taken hold across the U.S.," he said. "Demand is anything but strong. Prices are going down."
For condos, year-to-date median prices for 19 regions were up in 13, down in four (Hawai'i Kai, Wahiawa, 'Ewa Plain and Maka-kilo) and about flat in two (Mililani and Waipahu).
Chason Ishii, president of Coldwell Banker Pacific Properties, believes that Hawai'i's growing economy with its ultra-low unemployment and rising personal income will sustain an overall stable real estate market.
"With all the fundamental economic indicators that are occurring, it looks like the O'ahu housing market continues to be extremely strong," he said.
Condo sales in August fell 14.7 percent to 495 from 580 a year earlier. Year-to-date condo sales are down 14.5 percent to 3,930, from a year earlier. Condo sales are in their second year of decline.
Inventory of homes on the market generally has been rising a little from month to month over the last several months. But for the last three months, inventory was lower compared with the same month a year earlier, which halted a trend for higher year-over-year inventory levels that had persisted since late 2005 when sales peaked.
There were 1,859 single-family homes on the market last month, down from 1,937 a year earlier and a nine-year high of 2,052 in November.
There were 2,386 condos on the market in August, down from 2,707 a year ago and below a nine-year high of 2,750 in September.
Single-family homes sold in August spent a median 44 days on the market before selling, up from 37 in July, but down from a recent high of 70 in February.
Condos spent a median 38 days on the market before selling last month, up from 35 in July, but down from a recent high of 59 in February.
Harvey Shapiro, research economist for the Board of Realtors, said the housing market in the next few months could be helped out if the Federal Reserve cuts interest rates later this month. Shapiro said mortgage rates in the last month have declined, which should help keep demand relatively strong.
However, there remains much uncertainty about how much of a drain on sales, if any, there will be from the recent drastic cutbacks in subprime lending, an industry that helped fuel demand for homes over the last several years.
The impact from fewer subprime loans wouldn't be reflected in home sale data until next month at the earliest because it typically takes one to three months for pending sales to close. So lending changes made in August may not start to be reflected until September sales are reported in October.
Reach Andrew Gomes at agomes@honoluluadvertiser.com.
© COPYRIGHT 2007 The Honolulu Advertiser, a division of Gannett Co. Inc.
All materials contained on this site are protected by United States copyright law and may not be reproduced, distributed, transmitted, displayed, published or broadcast without the prior written permission of The Honolulu Advertiser. You may not alter or remove any trademark, copyright or other notice from copies of the content.
Monday, September 3, 2007
Interest Rates Among Lowest in Nation
Another good reason to buy and invest in real estate in Hawaii, is the fact that interest rates on new first mortgages are amoung the lowest in the nation. Below is an article that was published in Hawaii's Pacific Business News paper.
"Hawaii mortgage interest rates down
Pacific Business News (Honolulu) - August 31, 2007
Hawaii's three largest banks dropped rates on 30-year fixed interest mortgages again this week.
The decline brought rates on Wednesday to 5.375 percent at American Savings Bank, Bank of Hawaii and First Hawaiian Bank, according to the Honolulu Board of Realtors.
Nationally, the average rate fell to 6.45 percent, according to Freddie Mac's primary mortgage market survey released on Thursday.
Mainland lenders offering higher interest rates made cheaper loans. American Savings and Bank of Hawaii both charged 1.875 points on 30-year fixed rate mortgages, while First Hawaiian charged 2 points.
Nationally, borrowers paid an average 0.5 point for the loans. "
If you are looking for a sales team with over 20 years of successful real estate sales experience and market knowledge, call on Trinity Properties, LLC. We put your interst and needs a top priority!
"Hawaii mortgage interest rates down
Pacific Business News (Honolulu) - August 31, 2007
Hawaii's three largest banks dropped rates on 30-year fixed interest mortgages again this week.
The decline brought rates on Wednesday to 5.375 percent at American Savings Bank, Bank of Hawaii and First Hawaiian Bank, according to the Honolulu Board of Realtors.
Nationally, the average rate fell to 6.45 percent, according to Freddie Mac's primary mortgage market survey released on Thursday.
Mainland lenders offering higher interest rates made cheaper loans. American Savings and Bank of Hawaii both charged 1.875 points on 30-year fixed rate mortgages, while First Hawaiian charged 2 points.
Nationally, borrowers paid an average 0.5 point for the loans. "
If you are looking for a sales team with over 20 years of successful real estate sales experience and market knowledge, call on Trinity Properties, LLC. We put your interst and needs a top priority!
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