LENDING IN HAWAII IS GETTING SPOOKY... I recently attended the Hawaii Association of Realtors Annual Conference. Hot topics of discussion were Lenders and conditions now being put on loans. With interest rates being phenomenal we are still running into road blocks to get the housing market on solid ground. We are seeing everything from get your mom of the credit card to insurance companies ordering repairs. It used to be when you had a final loan approval it had maybe 5 conditions and those were generally in house. Those conditions could generally be cleared within days. Now it isn't uncommon to see over 20 conditions. Another issue was that at least in Hawaii lenders don't seem to feel that they have to honor the Purchase Contract for timelines. We have buyers with all documentation in early on and still routinely delay closings by up to 2 weeks due to underwriting making new conditions as the loan progresses. We also are seeing well qualified buyers making in excess of 200k per year not being qualified for small loans due to being sole business owners and having tax write off issues. Those issues in the past didn't seem to be major but now it is like navigating through the dark forest. I'm not trying to say all loans or lenders have issues, but it was a recurring theme amongst the Realtors at the conference. Discussion also centered on government in Washington and making sure we are all pro-active to encourage the continuation of the mortgage interest deduction, and to encourage the tax waiver for short sale home owner occupants. Just these two issues alone and getting the lenders to get more lending going were very much top of mind. My advice to any Realtor or buyer for Hawaii Real Estate is to get buyers approved up front prior to beginning your home search, have the expectation that the lenders will ask for some unusual things and be prepared to provide them, and be very flexible with your timeline for closing on a property here. Aloha, Gina Duncan, R (S), ABR, e-Pro, SFR
Tips on Making REO offers in today's Maui Marketplace- Pricing
It wasn't long ago that buyers could bid on REO properties and offer less than asking and in some cases that may still be true, but most under 400k REO properties on Maui are seeing lots of action.
We had a recent listing that was an REO. It was a short sale that was foreclosed on. I recommended a higher price than the previous listing based on comps and that I knew it would be cleaned up a bit prior to marketing. We received an offer the first day on the market and went into escrow.
The first day of the listing I had 5 showings, and the following couple days prior to finalizing the contract with the buyer we had many agents, and buyers wanting to see the property and offer if it didn't already have offer in place. One of the calls I received sadly was from an agent with a client who wanted to offer 100k under asking. This is something that I have to explain to buyers almost daily in Maui. We are starting to see our prices hold and volume of sales are up. If you are looking at property below 400k you are competing with a lot of buyers and many of those buyers are cash investors. We are seeing multiple offers at or above asking if the property is under priced to begin with. Being realistic and not wishing is going to get you the home you want still at a good price, just not a fantasy price.
When we advise clients of this turn in our market they seem a little shocked. Markets do shift and you have to be realistic and listen to a good agents advice on the current market. It doesn't matter that you only want to pay X dollars for a home that we as agents know will go over full price. If we advise you against offering a lower price it isn't because we want to "make more" or have you "pay more" it is because you have hired us a professional to assist you in acquiring a property you are interested in.
Our Fine Island Properties Team will share not only the comparable sales with you but also the current available Maui Real Estate Statistics so we can go over the market with you prior to having you decide what price makes sense and we will help you construct the best offer you canto acquire the home you want.
Aloha, Gina Duncan
Fine Island Properties
"Your Guide to Maui Real Estate"
BEST BUY! 2bd/2ba Kihei Villages Condo for sale!
140 Uwapo Road #7-104, Kihei HI 96753
$249,000
Don't miss this affordble BEST BUY Kihei condo!
Located in Maui's famous beach town!
For more pictures & info on this Maui property, or for other great Maui Real Estate deals, call
Aran I. Parsons R (B) at 808-280-6911 or Gina Duncan R (S) at 808-250-9858
or visit our website at www.FineIslandProperties.com
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The Fine Island Properties Team of Keller Williams Realty Maui was created to give only the best professional Real Estate Services to our clients. You deserve first class, experienced Aloha service.
Maui Real Estate
"Every single day, somewhere in the world, Aloha comes to life. As it lives and breathes within us, it defines the epitome of sincere, gracious, and intuitively perfect customer service given from one person to another."- Rosa Say
At Fine Island Properties we believe in the Aloha Spirit and encourage our clients to immerse themselves in the beauty and culture that is Hawaii. We promise to honor you and provide you with the sincere, and gracious service that Aloha conveys.
Maui is the "world's best island"
Year after year the readers of Conde Nast Traveler Magazine vote Maui the "World's Best Island". From the unforgettable road to Hana to the 120 miles of coastline, Maui is No Ka Oi! If you are interested in checking out Maui Real Estate For Sale, you came to the right place...
Let us- Fine Island Properties, help you find or sell your Maui property!
For our sellers a 165+ steps of service to help you sell quickly for the most money. We deliver where others promise.
For our buyers a buyer packet including the Hawaii Buyers Advisory Guide and a personal consultation so we can tailor our search to match your needs.
Experienced in South Maui real estate including Kihei, Wailea, and Makena as well as Upcountry/Central Maui including Kula, Makawao, Pukalani, Haiku, Paia, and in Central Maui areas of Wailuku and Kahului.
TEAM LEADER: Gina Duncan , Realtor®, Salesperson,
SFR
Over 9 years experience as a Real Estate Agent. I work Full Time in my Profession and have over 10 years experience in the Real Estate Field, including being a Broker's Assistant and Property Manager's Assistant. Licensed in Hawaii. Previously licensed in Florida & Maryland. "Top Listor" & "Top Producer" & "Keeper of the Culture" awards from KWRM 2007, 2008 & 2009, 2010.
Active Member of Realtor Association of Maui serving on new member committee. Member of the National Assoc of Realtors, Hawaii Association of Realtors, Asian Realtors Association of America, & the Maui Native Hawaiian Chamber of Commerce. ALC (Agent Leadership Council) Member at Keller Williams Realty Maui. Top 10 in all of Maui for Resale Transactions in 2009.
Reggie Audant, Broker, ABR, SFR
I am dedicated to make your Real Estate transaction as easy as possible. I moved to Maui 23 years ago from Berkeley California where I graduated from Heald College of Electronics Engineering Technology. I have been a Realtor for the last 11 years on Maui. I hold a Brokers license which not only requires three years full time experience, but further education and testing. Willing to put my experience...Integrity...Skills...Effectiveness and Intimate knowledge of the Market place to work for you. Languages Spoken: English, French, Creole, and understanding of Spanish.
Member of the Maui Board of Realtors, Hawaii Association or Realtors, National Association of Realtors and Rebac. Top Producer & Top Listor with Keller Williams Realty Maui. Serving currently on the New Member Committee at the Realtors Association of Maui.
Donna Wilson, R (S)
Having integrity to do the right thing, solid communication, trust, honesty and commitment in all things are the building blocks to a successful and happy life, whether it is personal or business.
Real Estate has always been my passion and I am ready to combine the motto I live by with the excellent customer service you deserve to create a successful relationship with you!
I moved to Maui from CA leaving a supervisory position with the United States Post Office. Prior to that I was involved with reviewing in Siskiyou Co. for the "No Child Left Behind Program". My hobbies include Aviation. I've taken my Aviation Ground School on the way to becoming a pilot, and I am the proud mom of 3 wonderful children who are all grown and on their own.
"Gina Duncan is the best Real Estate professional I have ever had the pleasure of working with." -Tony Linder
"...as a result of her professionalism successfully closed two properties on Maui (and one on the mainland for which she was also helpful)." -Rick Lumsden
"She was really committed to selling our home at the right price! Throughout the process, she kept us informed by email, phone calls, and personal visits. We always knew what she was doing, and what was going on. She was professional, patient and kind during this stressful time. Thanks to Gina's help, we attracted numerous prospects to our home in a slow market and got a great result. We recommend Gina Duncan to anyone looking to sell their home! She stands far above other Realtors in the area!" -Andrew & Elena Neitlich
"As a single woman on Maui, I never in my wildest dreams thought that I would be able to afford my own home here. But, I decided I had to try. Being a first time home buyer, with limited cash flow, I was extra cautious setting out on this adventure. I interviewed four different real estate agents in my search for the perfect person to represent me. It was not until I met Gina that I knew my search was over. Her level of professionalism instantly won me over. I could tell that she not only knows her market backwards and forwards, but she genuinely loves real estate. Our search began, and Gina was eager to show me the gamut of homes available. However, with a budget of about $400k, the search results were less than desirable. I thought that, in order to just "get in" the market, I might have to completely give up on my list of must-haves: a large kitchen, high ceilings, and a peaceful neighborhood. But, Gina had other plans.
After a few months of searching, the phone rang and Gina began excitedly describing a house that was newly coming on the market. We jetted over to the property to check it out. This was a real gem that she had discovered, a "proper house" as Gina described it. And, amazingly enough it had a every item from my list. A few days later, we were putting in the offer. An incredible deal like this doesn't go unnoticed for long, and other offers cam flooding in. Gina stayed on them, and in the end her diligence and negotiating won out - I was going to get my house!
Within a few weeks, I was closing on the property and moving in. I think I was still in shock when Gina came over, beaming, to officially hand over the keys. Six months later, here I am working on projects, happily turning the house into a home, and proudly taking stock of my huge accomplishment.
Thank you Gina; I couldn't have done it without you!"
-Jennifer Kane
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