Once again I am getting ready to deliver a couple of seminars entitled, "Home Retention 101" for homeowners on Kauai. The sessions are Monday November 1st at 3 p.m. and 7 p.m. at the Courtyard by Marriott in Kapaa (formerly the Aston Kauai Beach at Makaiwa). In the spirit of Halloween I was thinking that Kauai homeowners were TREATED to an inordinate amount of home appreciation from 2002 til 2007. Prices literally tripled here during that short window of time. However, many homeowners were TRICKED into getting loans that they had no business getting. MOst lenders were not generally in the business of warning people about how risky these pay option ARM and interest only loans were nor the fact that the market may not be sustainable. Nevertheless, what happened happened.
For those homeowners who are behind on their mortgage, or who own properties that are worth less than the amount they owe (currently one in four Americans or something close to that), there are options. I can help explain those options and answer questions regarding the difficult situation that many homeowners are in.
From reinstatement and forbearance through the entire foreclosure process, we'll cover many topics including an update as to what all the fuss about halting foreclosures may mean in the short term to homeowners.
Hawaii is a recourse state where the lender has the right to a deficiency judgement. Hawaii is also a state where both non-judicial and judicial foreclosures are happening. Learn the difference and what the banks are currently doing at our courthouse steps. If you know anyone on our island that might benefit from this free seminar, please send them our way this monday November 1st.
Register Here for Home Retention 101 - Sponsored by Hawaii Life Real Estate, Old Republic Title and Escorw, 101 Financial and Island Pacific Mortgage.
Call if you have any questions, 808.346.7095
Here on the small and lush Garden Island, we have two primary types of homeowners. Those foks who live on the island, many of whom were born and raised here. The second type of owner is an absentee owner, those who have their second home or vacation rental properties on Kauai. In the current distressed property market, the members of our community who live here and are having problems with their mortgage or payments are the Kauai residents that need the most care and assistance. Even though one might think that everyone knows about their options and the government programs to assist, believe me they don't/
Yesterday, I held my first Home Retention 101 Seminar, and had over two dozen homeowners that were able to attend. We covered a lot of ground as you can see from my seminar overview slide. When I get out in the field with distressed homeowners and hear how many people have been ripped off by loan modification scams, only to still be unsuccessful in modifying their loan, I get quite upset. I could feel the frustration yesterday and yet I cannot fix the banking and mortgage fiasco. I do what I can to educate homeowners as to their rights, their options, and what type of action represents a solution from their current challenging situation.
If you know someone in the state of Hawaii having these challenges, kindly give them my number. I may be able to help. I am certainly able to educate and answer questions. Mahalo
A year ago I helped to produce three seminars entitled "Short Sales Demystified". I was working in the short sale space and was looking to provide assistance to local homeowners who may have been in trouble with their mortgages and in risk of foreclosure. I held the sessions hoping to find homeowners in distress. Out of 30 attendees to the events, 29 of them turned out to be buyers. My takeaway was that the subject of foreclosure was too private and people did not want to come out in public and discuss.
Well, that led to the next seven seminars which focused more on buyers. With the impetus of the Home Buyer's tax credit at play, the seminars I produced in January and March were entitled, Home Ownership 101. While i provided a broad spectrum of information about home ownership with the assistance of Wells Fargo Home Mortgage, Title Guaranty Escrow and 101 Financial, the attendance was relatively small.
I've spent most of this year cultivating my knowledge and understanding of short sales. Along the way I've learned a lot about foreclosure rights, what happens after the bank forecloses, what actually is needed to modify a loan and stay in a home, and what some of the drivers are for the banks and their servicers in this current housing market fiasco. In fact, these days when a buyer shows up on Kauai, finds a nice property that is a traditional (not short) sale, writes an offer and goes into escrow, THAT is the exception. Mostly we have short sales and REOs. It's about 40-50 percent of the market.
After a recent meeting with some Realtors in California, I was encouraged to start assisting my clients with loan modifications as well. If nothing else, when I consult with a family that is having challenges with their home, its rewarding to explain the full suite of options to someone, especially when I realize most folks would prefer to keep their home, if mainly for personal and emotional reasons. From a business point of view it's still challenging to understand why someone who lives in a $400,000 home and owes $650,000 wants to stay there and work something out with the bank. Yes, the bank do provide loan modifications but you will never see a modification at less than 100% LTV.
At any rate, I'm reaching out once again to our Kauai Community with a series of Home Retention Seminars to help familes understand the full range of options from loan modification to short sale, deed-in-lieu, foreclosure, etc. My goal is to provide wholesome education to the community so people can make an informed decision. If it turns out that my information and services is of value, then perhaps I will earn a short sale listing. I do not push it. People need to make the choice best for them. If you know anyone on my island who could use my expertise, let them know about the first event listed below. You can register for the event Home Retention 101 Online
Time is running out for the extended first-time homebuyer’s tax credit.
Join the experts from Wells Fargo Home Mortgage, Title Guaranty Escrow, Hawaii Life Real Estate, and 101 Financial who are co-sponsoring four free first-time homebuyer seminars on March 22, 24th and 26th and the following week on April 1st. Register online →
Sometimes when buying a first home, home buyers can get overwhelmed by the paperwork and the process. By attending this seminar, you ‘ll get a great head start on understanding this process of home ownership and acquire the knowledge that will help you be more confident when purchasing. Attendees are suggested to bring a notepad to take notes, and there will be plenty of handouts for each of the seminar participants sponsoring the event.
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Short Sale & Foreclosure Expert and Certified Distressed Property Expert (CDPE). I utilize the latest technologiwa to offer sellers at comprehensive and complete marketing solution on Kauai.
As a fulltime resident of Kauai, I enjoy the aloha lifestyle. Real Estate is a wonderful way for me to share my broad range of business expertise and technical abilities with buyers and sellers from around the world who have discovered Kauai, one of the most beautiful places on earth. Using the same promotional, negotiating and people skills I developed as a business owner, I apply those tools to create value in building long term relationships with buyers and sellers.
As a veteran entrepreneur, I understand the key components of negotiating and creating workability between parties. Whether representing a buyer or seller, my goal is to create a win-win for all parties involved.
As a sales and marketing director in the technology sector for many years, I have a breadth of expertise in promotion, video, and marketing and I leverage the industries' latest tools and trends to keep my strategies on the cutting edge. I syndicate my listings to over 25 real estate portals, and actively promote my listings on craigslist and other community sites where a wide range of people see them.
As a buyer's agent, i serve as an Accredited Buyer's Representative, a title I am proud to hold. I leave no stone unturned when working for a buyer. From searching tirelessly for the perfect property, negotiating the sale, and insuring that every concern is addressed.
I love living on Kauai and am very involved in our local community. As the President Elect of the Rotary Club of Kapa`a, our club supports many community organizations on the East side of Kauai like the Boys and Girls Club of Kapaa, Hale Ho Malu, Friends of Kamalani Playground, to name but a few and is currently involved in water projects in India, Africa and the Phillipines.
I work with our local creative arts organization, the Kauai Concert Association, bringing 9 world class concerts to Kaua`i this season. From classical to contemporary to dance, KCA brings a diverse group of talent to our small island with a mission to educate and inspire children. Each artist does an educational service event and sometimes a master class.
My sports passions are primarily golf and tennis and with two titanium knees, I am very grateful to be engaged in both. Yes, I walk my dog Samson and take him to the dog park, and swim in the ocean down at Lydgate Park, but, you'll often find me playing the links at the Wailua Golf Course or playing doubles on Saturday afternoons at the Wailua Houselots with a great group of local players who enjoy the social scene as well as the competition.
For fun, I work as a drummer in local jazz and funk venues, like Trees Lounge in Kapaa and Stevenson's LIbrary at the Grand Hyatt in Poipu. I play in the Kauai Community College Jazz Big Band, and often volunteer my time with our community theatre groups like, Hawaii Children's Theatre and Kauai Community Players.
While searching for a second home on the Island of Kauai we were referred to Ron Margolis by our local realtor. We contacted Ron by phone from Boulder Colorado and he was quick to E-mail MLS listings of properties that he felt would meet our needs. Ron also happily answered any questions and addressed any of our concerns. Upon our arrival in Kauai, Ron tirelessly showed us endless properties even though at that time Ron was recovering from major surgery. Realizing that we only had three days on island to power shop for a home, Ron would squeeze us in any time of the day or evening even between physical therapy sessions. There was never any pressure, just an enjoyable experience.
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