The Honolulu Board of REALTORS® released resale figures for the month of January. Using data collected from its computerized Multiple Listing Service system, a significant increase in sales from December 2011 into January 2012, a dwindling inventory, and relatively stable prices suggest Oahu's real estate market is showing signs of recovery. Single Family Home sales are still below January 2011 so there is room for more improvement.
Honolulu Board of Realtors January Residential Resale Statistics Summary
The January 2012 Monthly Indicators Report for Oahu, Hawaii, real estate contains monthly and year-to-date graphs on sales, prices, listings, inventory, affordability, and more. When comparing information be aware that the historic timelines are not consistent for each housing indicator.
Honolulu Board of Realtors January 2012 Monthly Indicators for Oahu
The January 2012 Housing Supply Outlook for Oahu, Hawaii, real estate provides property type and price range analysis from the past twelve months of single family homes, new construction, leasehold condominiums, and fee simple condominiums data.
Honolulu Board of Realtors January 2012 Housing Supply Outlook
The January 2012 Local Market Updates for Oahu, Hawaii, real estate contains monthly and year-to-date graphs on closed sales, sales prices, listings, pending sales, days on market, percent of list price received at sale, affordability, and inventory, organized by neighborhood.
Honolulu Board of Realtors January 2012 Local Market Updates
It is important to note that a real estate transaction typically takes 1 to 3 months to record; short sales transactions can take upwards of 3 months to record. As such, the monthly report does not cover a sufficient enough timeline to identify trends. Contact a Realtor if you would like help interpreting the data.
When you purchase a home with a mortgage, the mortgage interest you pay throughout the year is deducted from your income reducing your overall tax burden. This amounts to a tax savings which is why having a mortgage and owning a house can provide a tax advantage over those who pay rent. The Mortgage Credit Certificate Program allows eligible first time homebuyers to convert 20 percent of the mortgage interest paid throughout a year into a tax credit with the remaining 80 percent remaining as a tax deduction. A tax credit is similar to a store credit except its a credit with the federal government. While a tax deduction is more like a store discount.
The Mortgage Credit Certificate Program provides housing assistance to families of low and moderate income. As of January 2012, the income limit for Oahu or Honolulu County for families of 3 or more is $114,380 while for smaller families the income limit is $98,040. If you qualify, you may purchase a new or existing fee simple home for no more than $714,375. Only certain lenders participate in the Mortgage Credit Certificate Program. The State of Hawaii Housing Finance and Development Corporation Question and Answer brochurecontains a list participating lenders and additional information on the program.
Aloha military members - you can put your BAH to work for you. Many military members have choices when it comes to where you want to reside. Do you want to live on-base or off-base? Should you rent or should you purchase? Seeing how much mortgage your BAH will cover can help you with these decisions.
With today’s historically low interest rates and Oahu’s BAH rates, you have some real buying power, especially in today’s suppressed real estate market. If you qualify for a mortgage, why pay someone else’s mortgage? Put your BAH to work for you. Use your BAH to pay for your own mortgage.
The below chart illustrates the BAH Buying Power. If the BAH amount was used to make a monthly mortgage payment the corresponding principal value is shown for a 30-year fixed mortgage based on a 4% and 5% interest rate. You should consult with your bank or mortgage broker to determine your buying power and the mortgage program appropriate for your financial goals.
Because we are constantly monitoring and advising on the Oahu real estate market, we can readily identify properties that meets your wants. In a short period of time, we are able to narrow available properties based on your search criteria and goals. Once the right property is identified, we negotiate a contract that is acceptable to you and the seller. Then we ensure the deal is closed in a timely fashion with your best interests in mind. Now is the time to begin accumulating equity with your own piece of paradise. We are standing by to assist you!
NEW YORK, NY, December 17, 2010 -- Exit Hawaii Dream Realty has been selected for the 2011 Best of Kaneohe Award in the Real Estate Agents category by the U.S. Commerce Association (USCA).
The USCA "Best of Local Business" Award Program recognizes outstanding local businesses throughout the country. Each year, the USCA identifies companies that they believe have achieved exceptional marketing success in their local community and business category. These are local companies that enhance the positive image of small business through service to their customers and community.
Various sources of information were gathered and analyzed to choose the winners in each category. The 2011 USCA Award Program focuses on quality, not quantity. Winners are determined based on the information gathered both internally by the USCA and data provided by third parties.
About U.S. Commerce Association (USCA)
U.S. Commerce Association (USCA) is a New York City based organization funded by local businesses operating in towns, large and small, across America. The purpose of USCA is to promote local business through public relations, marketing and advertising.
The USCA was established to recognize the best of local businesses in their community. Our organization works exclusively with local business owners, trade groups, professional associations, chambers of commerce and other business advertising and marketing groups. Our mission is to be an advocate for small and medium size businesses and business entrepreneurs across America.
SOURCE: U.S. Commerce Association
CONTACT:
U.S. Commerce Association
Email: PublicRelations@uscaaward.com
URL: http://www.uscaaward.com
Aloha! Our advertisement for the January 2012 Real Estate Book publication featuring Oahu listings from EXIT Realty in Hawaii. With the Real Estate Book listings get exposure in more than 13 million magazines distributed each month, representing 500 markets in the U.S. and Canada. Contact Theresa at (808) 223-0429 if you want more information on one of the properties featured in our ad or if you want your home to appear in the Real Estate Book.
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