Hawaii

Recently I had the pleasure of representing a very nice couple in the sale of their home and then represent them in the purchase of their replacement property. A nice simultaneous closing. As is normal with the sale of a home, I would contact the seller to inform him of the inspection date and appraisal date, etc. Every time I would call him to let him know when we would need access to his home he would respond that he would need to check his work schedule to make sure he could have that time off. Each time I would tell him that was my job to be there and he could stay at work.

On the purchase of his new home, he was shocked that I was there with him during the inspection and I was there when the appraiser was done. During the process, I called his lender to make sure things were on track and as always, kept in touch with the escrow officer. I would remind the home seller/buyer of upcoming events. I was also there with my seller/buyer during the signing of both his mortgage docs and escrow docs.

After we closed, he wrote a very kind letter stating that in all of his former purchases and sales, agents would write the contract up and he had to arrange for all the inspections, be there for the appraisals and had contact directly with the escrow officer. The agents really didn't contact him any more.

I was shocked and saddened that there are agents out there that believe that their job is over once the client signs the contract. I always tell my associates and my clients, "that is when our real work begins." I know there have been a few times that I have had to really "ride" the cooperating agent in a transaction to get them to do their jobs. I believe this attitude by some agents or belief that getting the deal signed and then they have no other obligation to the client gives us all a bad name. Truly, if I was a buyer or seller and my agent just left me to do the rest of the work myself, I would wonder why I was paying a commission!!

As a Principal Broker, if I knew any of my associates were not doing their job, they would either need to step up to the plate or find somewhere else to hang their license. No just order takers here . . .

First-Time Homebuyer Credit Extended

New legislation, the Worker, Homeownership and Business Assistance Act of 2009, which was signed into law on Nov. 6, 2009, extends and expands the first-time homebuyer credit allowed by previous Acts. The new law:

• Extends deadlines for purchasing and closing on a home.
• Authorizes the credit for long-time homeowners buying a replacement principal residence.
• Raises the income limitations for homeowners claiming the credit.

Under the new law, an eligible taxpayer must buy, or enter into a binding contract to buy, a principal residence on or before April 30, 2010 and close on the home by June 30, 2010. For qualifying purchases in 2010, taxpayers have the option of claiming the credit on either their 2009 or 2010 return.

For the first time, long-time homeowners who buy a replacement principal residence may also claim a homebuyer credit of up to $6,500 (up to $3,250 for a married individual filing separately). They must have lived in the same principal residence for any five-consecutive year period during the eight-year period that ended on the date the replacement home is purchased.

People with higher incomes can now qualify for the credit. The new law raises the income limits for homes purchased after Nov. 6, 2009. The credit phases out for individual taxpayers with modified adjusted gross income (MAGI) between $125,000 and $145,000 or between $225,000 and $245,000 for joint filers. The existing MAGI phase-outs of $75,000 to $95,000 or $150,000 to $170,000 for joint filers still apply to purchases on or before Nov. 6, 2009.

General Information

Homebuyers who purchased a home in 2008 or 2009 may be able to take advantage of the first-time homebuyer credit. The credit:

• Applies only to homes used as a taxpayer’s principal residence.
• Reduces a taxpayer’s tax bill or increases his or her refund, dollar for dollar.
• Is fully refundable, meaning the credit will be paid out to eligible taxpayers, even if they owe no tax or the credit is more than the tax owed.

The credit is claimed using Form 5405, which you file with your original or amended tax return.

First-time buyers, First-Time Homebuyer, home buyers tax credit

Listing Alerts - Honolulu Condos

Aloha!

Please view the links below for this week's Listing Alerts.

Don't miss the HOT LINKS at the bottom of this newsletter for such distressed property listings as:

• Lender Owned Property Listings
• Foreclosure Property Listings
• Short Sale Property Listings

Also, please feel free to visit our website, one of the most complete Honolulu Condominium Directories available online at www.HNLCondos.com.

NEW HONOLULU CONDO LISTINGS: These condo listings are new listings that have come on the market for sale, since our last newsletter, dated October 28, 2009.

ALA MOANA NEW CONDO LISTINGS

DIAMOND HEAD NEW CONDO LISTINGS

DOWNTOWN/CHINATOWN NEW CONDO LISTINGS

KAKAAKO NEW CONDO LISTINGS

KAPIOLANI NEW CONDO LISTINGS

MAKIKI NEW CONDO LISTINGS

WAIKIKI NEW CONDO LISTINGS

To view all Honolulu condo listings please visit the MLS Search page on our Website or set up your own Listing Manager Account.

DISTRESSED HONOLULU CONDO LISTINGS: These distressed Honolulu condo listings include REO, or lender owned properties, foreclosures and short sales. New Listings are new this week, since our last week's newsletter.

Please click here to read a complete definition or description of Lender Owned, Foreclosure and Short Sale Properties .

LENDER OWNED PROPERTY LISTINGS - ALL

LENDER OWNED PROPERTY LISTINGS - NEW - no new listings this week

FORECLOSURE PROPERTY LISTINGS - ALL

F ORECLOSURE PROPERTY LISTINGS - NEW

SHORT SALE PROPERTY LISTINGS - ALL

SHORT SALES $0 - 200,000

SHORT SALES $200,000 - 400,000

SHORT SALES $400,000 AND OVER

SHORT SALE PROPERTY LISTINGS - NEW

Having trouble with links? Click here

As we have been learning, there are many Hawaiian proverbs and sayings that have been fun learning and even more entertaining trying to speak and pronounce correctly, but more importantly convey real wisdom and spiritual value.

Here is another one of my favorites.

'A'ohe Lokomaika'i I Nele I Ke Pana'i.

Which translates as:

No kind deed has ever lacked its reward.

An opportunity to help another is a gift. To Live with Aloha is to have a giving nature. Give for the pleasure of giving, do not expect something in return.

Hawaiians are known for their generosity, hospitality and sharing nature. When Westerners first arrived on the Islands by ship, Hawaiians gave them food, drink and gifts to welcome the foreigners to their shores. It was a natural response.

Today Hawaiians still believe that no matter who comes to your door, you should offer a smile, drink, food, a seat or even a place to sleep - there is nobody you do not help.

In days gone by if children didn't come home at night parents did not worry, as they knew they would be sleeping at a friend or family member's home. A Hawaiian woman once told a story that her grandmother (tutu) would think nothing of having fourteen children sleep over at a time!

For more cultural information about Hawaii, please feel free to visit our website, Honolulu Condos..

I have a real issue when our local news paper - WEST HAWAII TODAY - prints such a negative report about sales in our community. If you can imagine a respected newspaper, going to an agent, one that has a total sales count here in Hawaii (Big Island) of 3, thats right THREE SALES. And quotes him throughout the article for reference points! Thats just not RIGHT !

So what do you do? You write an article here on Activerain, you guys have such a huge force when it comes to search engine results, I just hope that the truth gets out. by the way I did write a letter to the editor - I will let you guess as to whether or not I heard back from him :) ???

Here is the letter, and post I did on cragslist !

Island Real Estate continues to DECLINE!!!

Please - West Hawaii Today, verify your facts before printing such negative material.
Fact: Agent quoted in West Hawaii Today Article - according to Hawaii MLS - has a total of -3- that's correct - THREE - sales here on the Big Island? You think you might want to pick someone with more experience here on the Big Island ? Just a thought, when you have such an effect on the community!

Myth: 651 Single Family Homes for sale in North Kona (as reported)

Fact: 364 Single Family Homes for sale in North Kona (as of 11/4/09) I follow this on a monthly basis and we average around 360 - 400 a month - so I have no idea where 651 comes from.

Myth - North Kona Home Sales down -3% !!! (as reported)

Fact - North Kona Home Sales are up, year to date 4.67% and that still doesn't paint a clear picture because the WORLD came to a screeching halt the first 4 months of this year, but take a real look as to where Kona is headed!

Fact - Sales for the last 6 out of 10 months straight, have been either equal to, or exceeded last year sales .

Fact: October Home Sales - UP over 63% from last October

Fact: September Home Sales - Up over 41% from Sept of last year

Fact: August Home Sales - UP over 60% from last August

Fact: July Home Sales - UP 100% !!!

Fact: June Home Sales - UP over 27% from last June

Fact: May Home Sales - Even with last May

We can go on and on, but the bottom line is the entire community would have better served by a - Glass half full attitude, rather than a glass being half empty.
Just think if West Hawaii Today was responsible enough to make headlines like this -
KONA HOME SALES EXCEED OR MATCH LAST YEAR SALES - 6 MONTHS IN A ROW !!!
Or
OCTOBER SINGLE FAMILY HOME - SALES UP OVER 63% !!!
West Hawaii Today, you have a huge effect on how outsiders view our community, although we will never have another chance to regain respect from the tourist that were here that day, the ones that got off the cruise ship, or stepped off the airplane, and picked up your paper, and thought we are in such a depressed economy that it was not a good time to buy yet - I know , because I heard it. You do have an opportunity to do RESPONSIBLE journalism, and report true MLS facts, and this time - PICK an agent that has sold more than 3 homes in Hawaii - PLEASE. Make that agent show you proof of what they are saying - you have plenty of reports to verify claims.
In the meantime - THE GLASS IS HALF FULL - things are looking up Hawaii .

http://KonaHomeTeam.com - Click on Featured Listings to the left and they are sorted by price.

http://KonaForeclosures.com - Click here to sign up for instant updates on the Hawaii MLS system

Aloha and have a great day!
Lance Owens (RS)
(808) 936-8383
Email me direct
Lance@KonaHomeTeam.com

Visit my website below for more listings, current Hawaii MLS market reports, Maps, Big Island Links, Kona Coffee, Mortgage Calculator, Weather Reports, and more!
http://KonaHomeTeam.com
Aloha Kona Realty Inc.
78-6740 Alii Dr. - Suite 5, Kailua Kona, Hi 96740
Serving these areas: Kailua Kona, Keauhou, Kealakekua, Captain Cook, Waikoloa, Waimea, West Hawaii, and Hawaii Island . abcdefg