FHA Insurance on Loans to Increase in April 2011

FHA to Increase Mortgage Insurance Rates: If you are a first time homebuyer this is important news for you. FHA loans that originate after April 18th of this year are going to have higher mortgage insurance rates. The rate will increase by $250.00 for every $100,000. that you borrow. For first time buyers this increase can be significant so if you are on the fence and want to buy now is a good time if you are a first time homebuyer. Aloha, Gina

Buyers Market on Maui-Think Again

BUYERS MARKET ON MAUI- THINK AGAIN:

We have all been lulled into the "market is falling" and will continue to go down, shadow inventory, the bottom hasn't arrived thinking.
If you are looking for a condo under 200k in Kihei you may need to rethink that.

In today's search on MLS 0 yes I said 0 condos came up. Doesn't sound like rock bottom pricing and lots to choose from to me.

If you raise the bar to 250k you only get 7 properties. We have people with cash in hand searching on Maui right now for deals, so if you are a buyer you are competing for one of 7 condos. This means you can't underbid and chances are you will be in a competing bid situation.
Condos that have been on the market for months have been claimed now.
Be prepared to know the market prior to shopping for a home.

If you are thinking of buying a home and want to work with a professional team that will look out for your best interests, make the buying process fun/easy, and want to get you that best buy contact The Fine Island Properties Team at Keller Williams Realty Maui.

Aloha, Gina Duncan, R (S) ABR, e-Pro, SFR
www.FineIslandProperties.com
Mauigina@gmail.com
808-250-9858

View actual Maui neighborhoods that you are interested in

Aloha

We have a great tool from Google that will allow our homebuyers to view the neighborhood for the condo or home they are searching for. Ck out the sample below to Wailea Palms.


View Larger Map

Home Sales Up

According to the Recent Article by The National Association of Realtors many areas of the country are seeing a jump in home sales. (see link to full article below)

Maui is no exception to this trend. Our market is showing healthy recover indicated in our statistics (available at http://www.fineislandproperties.com/) and the movement we are experiencing as Realtors on the street. In the last month there has been an upward movement for showings and offers on our listings. REO (Foreclosure) listings and listings below the 450k can expect multiple offers if priced well.

Our luxury market is a little slower but it picking up nicely as well. REO and Shortsales are not as prevalent but showing up slowly and there are very well priced for our luxury markets.

Aloha, Gina

http://www.realtor.org/press_room/news_releases/2011/01/sharp_rise

What is being done to help Homeowners

I wanted to share this with our readers. I received my weekly US Dept of the Treasury report and it had some interesting information regarding preserving home ownership.

Under the Home Affordable Modification Program (HAMP) there are numerous ways for homeowners to seek modification on their loans to save their home. Even if you have tried modification in the past and have been turned down I encourage you to contact your lender regarding their participation with the HAMP program. Phyllis Caldwell's Dec 1st recent testimony before congress outlines many of these options.

Program Guidelines Include:
1. Homeowners must be evaluated for loan modification prior to foreclosure.

2. Suspension of foreclosures for homeowners who have applied for HAMP.

3. Evaluate other options for homeowners who do not qualify for HAMP.

4. Provide written explanation and give homeowners 30 days for appeal if denied modification.


If you have any questions regarding your options in a foreclosure such as short sale we are here to help. http:www.FineIslandProperties.com

Aloha, Gina

New Technology for Real Estate

Technology tickles me. I love the aha moment when I see the benefit of helping our clients by integrating the latest technology. So far this year Docusign (electronic signing via email) has been the biggest hit with the clients we serve. Years of trying to print 22 page contracts and having fax jams and running out of ink and paper are gone.

We utilize Docusign for our clients so they only have to open their email and click through the offer and it

sends it back to us or on to the next party in line to sign.

It lets the client save a copy of their document or they can print it out.

When you work with the Fine Island Properties Team you will know that you are reaping the rewards of our

education and that we are always looking for ways to improve how we serve YOU!

Aloha, Gina

Fall means Pumpkin Patch time

On Maui most people think the fall colors we enjoy are just the oranges and reds of our sunsets. But the other side of Maui (Upcountry) holds many of the traditional treats that mainlanders know and love. Our family went to the Kula Country Farm today and had a super fun time at the Pumpkin Patch. The Kula Country Farm not only has the Pumpkin Patch, but U Pick Strawberries, an example of a hydroponic garden, a corn maze, flower farm, and of course horses, goats, chickens and cows for viewing. We picked our favorite pumpkins and I found some fresh limes, and a vine ripened tomato for our dinner too. When visiting Maui or even if you live here don't forget to head up Haleakala Hwy and you will be pleasantly surprised at the country atmosphere there. Now go pick your pumpkin before they are all gone...