What a great place we live in--Hawaii! With Christmas just around the corner. What will you give to your loved ones this year? I have launched a Client's Appreciation program recently. If you give me a referral, you will receive a nice surprise gift from me. Sound good? in line with the Holiday spirit, I would like to make this month's newsletter more easygoing and fun. Santa has given us an early present this month. Can you believe the interest rate of 30-year fixed loan has gone down to 4.5% a decrease of 2 percentage points today!? What does that mean to you? When you buy a house worth $600,000 which is the average price of a single family home on Oahu, you put up 20% as a down payment. How much do you need to pay every month? If the interest rate is 6.25%, you have to pay $2,933 every month for 30 years. When the interest rate is 4.5%, you only need to pay $2,401. That's $532 a month of savings! Could you use the extra $532 to do something for your family? You bet. Is this a good time to buy or refinance your existing mortgage? Hawaii doesn't really mirror the mainland real estate market. Why? 1. Developers are constrained by the limited land and development regulations. 2. Borrowers are more conservative. 3. In Hawaii there are a lot less foreclosures. Many people have said to me, they are waiting for the price drop. Yes, some areas will continue to drop in 2009. By how much? 5% or 10%? In high demand areas of Oahu, there won't be much chance of prices dropping. Instead, bottom up next year. If you could get a dream house with next year's prices now, besides taking advantage of the lowest interest rate this month, don't you think you should buy now? Waiting can cost you money. Other people are waiting too. They will be some people who never purchase a home out there because they have been waiting for the price to drop over last 10 years. Think positively, act positively, you deserve what you dream about. It is a market of opportunities. I am optimistic. I am a full time real estate professional with two assistants on my team to serve your needs. I appreciate your continued support for my business. For up-to-date info on today's local market give me a call. (No obligation,) Elle
For more info please visit: www.HawaiiElle.com .
Your Real Estate Expert in Hawaii Top Listor in the office 1. Maximize your profit and minimize your cost - get the best deal for your family 2. Make a smooth transaction whether buying and selling
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