Mililani Townis the only community in Hawaii in 1986 to receive the distinction of "All American City" and is centrally located on the island of Oahu (Honolulu County) and to all US Military Bases as well. About 5-10 minutes up Highway 99 is Schofield Barracks (Army) and Wheeler AAF (Army), Hickam AFB and Pearl Harbor Navy Base is about 20-25 minutes down H-2 to H-1 Freeway. Kaneohe Marine Corp Air Station is up and over the H-3 Freeway.

We’ve definitely had a turn of events throughout 2011 in regards to our Mililani Housing Market. We’ve had ups and downs and turn around but needless to say the market may be turning back to a seller’s market soon.

Inventory is lower than a year ago and prices are slowly regaining ground. Interest rates have gone up a bit and I can safely presume that they aren’t going to be at this level in months to come.

Let’s take a look at the past year………..

Year to Date Market Report for Mililani Condos, Townhouses, Homes

Mililani Single Family Home Market Report 2011: We have 54 Active listings and 23 in contract for the first few days in January of 2012. Mililani has had about the same number of solds from 222 in 2010 with 215 single family homes sold in 2011. Sales Prices Ranged from $385,000 (2 bedroom “attached” home) to $1,010,000 (5 bedroom home) in Mililani Mauka. Average Days on the Market was 61 days for 2011 compared to 54 in 2010.

Mililani Condo Statistics for 2011: We have 54 Active condos/townhouses on the market and a promising 44 properties in contract for the first few days of 2012. We sold 250 condos in 2011 compared to 252 condos/townhouses in 2010! Sales Prices ranged from $79,500 (1 bedroom condo) to $455,000 (3 bdrm townhouse). Average Days on the Market were 67 days!

Mililani has had a consistent market during the last two years. The start of 2012 shows a promising active market with so many in contract and getting ready to close. The only difference is that the condo/townhouse listing inventory has shown a big decline at the start of this year with only 54 on the market compared to last year of 104!

For those Hawaii Home Buyers who are sitting on the fence … do the math on low prices now compounded with VERY low interest rates compared to those same prices with a higher interest rate in previous years. The math is clear, so if your current situation is in a buy mode…I’d say jump off that fence!

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Active Duty or Veterans of the Armed Forces have their VA Home Loan benefits for a little or no money down loan program to purchase a Hawaii home . (provided they are within lender guidelines).

The Veteran’s Administration is not a loan company and you will still have to get preapproved for a loan from a local lender. VA guarantees the Local Lender that they will reimburse the lender a percentage should the veteran default on their loan. (not that you will right?)

The following steps are what this Real Estate Professional helps you with in order to make your Relocation to Hawaii, Real Estate Home Buying Experience and VA Loan Process a smooth process.

· Contact a Local Hawaii Lender (if you do not have one I can refer you to a few who are well qualified in the State of Hawaii) to submit your information and documents to get preapproved for your VA Home Loan. Let the Loan Officer know what you are comfortable with for monthly mortgage payments as this helps determine what price range for properties you should be looking for. The loan officer will let you and your REALTOR® know what you are preapproved for and in what price range to search for properties.

· Let your agent know what other criteria you are looking for. For example, # bedrooms, # of baths, sq. ft. interior or land, parking, single family or condo/townhouse that you desire. With your price range determined and your criteria in place your REALTOR® will have enough information to send you listings to start your Hawaii Home Search

· Get all your financial paperwork together so you are prepared when you arrive. Pack your important documents in your carry on bag including last two months bank statements, last two years W-2’s, complete month of LES’s (pay stubs) and important documents you will need to submit for your loan! (Get a list of documents you’ll need from your loan officer that you already have in place)

· Start your loan process before you get here so you will have everything in place when you submit an offer for a loan. The loan process is the lengthy and of course an important part of the transaction so it is better to be proactive in your process. You will also NEED a preapproval letter to submit with the Purchase Contract as well.

· Appointments are made by this Realtor® and off we go in search of your new home! When you decide that you would like to put in an offer we will go through the whole 12 page (plus addendums) Purchase Contract and submit it to the seller’s agent to present to the seller.

· Offer is accepted and your VA Loan Process begins! You will meet with your Loan Officer to submit any other documentation needed for your VA Loan process packet. Then it goes to Underwriting to process the initial packet and order the appraisal with a VA approved appraiser.

· The Condominium and/or Subdivision Association Documents will be ordered immediately after acceptance of the offer and in the buyer’s hands within 10-14 days after acceptance. This agent will make copies of the Budget, last three Association minutes and the Property Information form (RR105C) and submit it to the lender. They need these documents per VA Loan Guidelines and process for your loan. (these documents will show how the Association budgets their money in reserve. % of owner occupants, any pending concerns or litigation going on and so forth)

· VA Appraiser submits the appraisal report to VA and VA will issue their NOV (Notice of Value) There may or many not be conditions to fulfill (i.e. any repairs needed) and will have a value on the property as determined by the appraiser5.

· Provided your loan process goes smoothly you should have a Conditional Loan Commitment Letter within 3-4 weeks in contract. This is an approval of your loan with Conditions. Maybe you need to submit a couple of more documents or the appraisal is not in yet or the survey and termite inspection are not done yet. These are the types of conditions that will be listed on this letter.

· Within two weeks after the Conditional Loan Commitment letter is issued all the conditions should be complete for signing documents with escrow and the loan officer. Not to worry! I attend all signings with you.

In Hawaii, we do not sign at the same time as the Seller due to conflict of interest and we sign approximately four – five days before recording. After the signing, the loan officer takes the notarized and signed documents to go through processing and within 2.5 days the Lender should have funded the money for your loan to the escrow company.

When escrow receives all monies funded by the lender , then they will take the documents to the Bureau of Conveyances in Honolulu to record. The Bureau of Conveyances needs two days for recording and we usually get word between 8-10am.

At that time of recording clearance, the home is legally yours and I will have already retrieved all keys, garage door openers and documents pertaining to the house in hand.

Congratulations!

You are a new homeowner!

Remember…our relationship does not stop here. I am always here to answer any questions or concerns you may have and help you with all your real estate needs.

Sometimes, we just get ONE chance to ‘prove ourselves’ during that initial meeting on the phone or in person. It could be a call from a Military Family Relocating to Hawaii and inquiring about their VA Loan home loan benefits and buying a home in Hawaii. It could be a call from a Mililani Home Seller asking if we can schedule an appointment for an ‘interview’ in regards to selling their home

That first impression could be the difference between just a lead or securing a client.

How’s about when we’re searching for just that right real estate agent or loan officer to referr our client to who is relocating to the mainland (Continental United States) and they don’t even answer their phone or call back? How’s about not even a return email? Guess what…they don’t get this or any future calls either.

ANSWER MY PHONE/TEXT: More often than not I answer my phone and I get a surprised response from the caller saying, “I can’t believe you actually answered your phone!” (or called me back right away after I text you) Yup, I’m one of “those agents” that answers my phone or calls right back and it made the difference to continue a conversation and possibly gain a new client! It can give them the an eased mind knowing that they will have a professional who is ….REACHABLE.

SEASONED IN MY PROFESSION: Ask question, listen to their needs and wants and give them straightforward advice. There is no such thing as candy coating a situation in real estate. A buyer has to get preapproved (especially with the strict lending criteria now days) for a loan before even starting to look for a home and a seller has to know that their home is only going to sell for market value. It’s the difference between setting realistic goals and either wasting or valuing everyone’s time involved. COMMUNICATION.

PROFICIENT ON THE PC/INTERNET: It’s no known secret that Real Estate is computer based for searching for listings, writing up contracts, marketing a home and emailing back and forth to get documents back in a timely manner. While on the phone with that initial lead contact I am already researching comps or setting them up to peruse listings in their neighborhood of choice. A client, escrow or loan officer needs a document asap and I have it flying to them by email in a manner of minutes. PROFICIENT IN TECHNOLOGY.

BEING THERE TO SUPPORT THEM: Whether relocating to a totally different place across the Pacific Ocean to just emotional ties to a home they have to sell, they are all are expecting some kind of emotional support during this often stressful time. If it’s just to lend an ear or giving loads of information to set their mind at ease then I’m there. They need to know that they have a seasoned and competent professional assisting them in one of the most important decisions in their lifetime …and that I am there for them. It doesn’t take much to take my job one step further. EMPATHY.

These are just a few ‘qualities’ that I have that sets me apart from the rest. The consumer can tell by that first initial contact if I will be the one who will be there for them with a listening ear, knowledge and understanding of my Hawaii Real Estate Laws and Purchase Contracts and the transaction process.

They know by that first initial contact that I will market their home and give their property maximum exposure on the internet as well as holding Open Houses (YES, THEY WORK HERE!). They know I am I have empathy in their particular situation. I communicate well and listen to their wants and needs. I AM REACHABLE.

That FIRST IMPRESSION is important in our business.

That FIRST IMPRESSION will either give me business

….or NOT.