Ryan Tongg

When is the right time to buy a home in Hawaii Kai? This is a question that so many people ask time and time again. The fact of the matter is that there is no right or wrong answer to this question. The right time to buy a home is when you are ready to do so. This is different for each person, so you will have to make your own mind up. But luckily, there are a few things that you can look at if you are thinking about buying a home. They may not point you in the right direction, but they should at least be able to get you thinking about the decision that you are about to make.

One thing to remember is that it is not the right time to buy a home if you do not have the money. So many people get excited about buying a home that they forget about the costs that are associated with it. Not only do you have to buy the home itself, but then you have to pay the bills associated with it. While this is something that you may be able to handle eventually, if you do not have the money now you should not even think about buying a home.

Additionally, you should only buy the home in Hawaii Kai that you are sure you want. Are you wondering what this means? Generally speaking, since there are so many homes in Hawaii Kai to choose from you may have a tough time making a decision as to which one is right for you. If you want to buy a home you have to take your time when searching for the right one. Getting so excited that you buy something that does not suit your needs is never a good idea. Instead, you should only buy a home that you are 100 percent sure about. Remember, this may very well be the largest purchase that you ever make. If you do not take your time you could end up with a large mistake on your hands.

All in all, the right time to buy a home in Hawaii Kai is when you are ready. This is different for each buyer, so make sure that you take your time and listen to what you know best.

There is a lot of free information available to you about buying, selling or investing in Hawaii Kai real estate. Please feel free to browse our Hawaii Kai homes for sale website or call us at 888.450.4140.

Unless you are one of the approximately four percent of the nation's home buyers that pay cash, chances are you are going to need some kind of a mortgage in order to purchase your Hawaii Kai dream home. But before you start pulling credit and signing papers there are a few things that you should know. Having a little info ahead of time can save you heartache- and money.

There are many different types of loans out there and the selection is changing all of the time. When you start the loan process you may want to consider sitting down with your bank and seeing what they can offer. If you have been a loyal customer they may give you special savings for giving them the opportunity.

Many people go online to shop for a mortgage. Although it is convenient to do so, it can be an aggravating situation. Online lenders typically work in another state which means you will be at the mercy of returned phone calls for answers. If they are in a different time zone then it creates a whole new set of problems. Plus, a broker in another state may not be completely familiar with the lending guidelines in Hawaii.

In recent years, more than ever, your rating will be determined by your overall credit score. A high rating rewards you with better options from lenders. Make sure that you do not get in the habit of having your credit pulled repeatedly by different lenders while you shop. This could negatively affect your score.

Depending on how much you put down will determine which loans you qualify for. Financing more than 80 percent means you will have to pay for either mortgage insurance, the V.A., F.H.A. or another third party group. This is their way of insuring the loan against default. These are all good loans, but remember if you can afford to put more down you may be saving on that insurance each payment.

To view current Hawaii Kai listings or for more information about the Hawaii real estate market please visit our Hawaii Kai real estate website or give us a call at 888.450.4140.

Once you've found a piece of Hawaii Kai real estate that you like, the next step is the purchase offer. Buyers are often times intimidated by what seems to be a complicated legal document. In reality, the purchase offer is much simpler once it's explained and properly understood. In this article, we will give a brief overview of the purchase offer process, including the most important clauses to include in your purchase offer.

The purchase offer is a binding legal document that covers all the details of the sale. It includes the sale price, contingencies, financing details, closing costs, repairs needed, closing date and a lot more.

The selling price is obviously the most important factor in a purchase offer. However, the clauses you include in your purchase offer are also vitally important. The clauses or contingencies in the contract are what protect you from making a purchase before you have all the information you need.

Some of the more important clauses to include in your contract are:

1) The Inspection Clause

On any property you put an offer on, this is an absolute must. This clause states that as the buyer, you have the right to inspect the property. The offer is contingent on your approval of the results of the inspection.

2) The Financing Clause

If you didn't have the financing clause and you backed out of the contract because you didn't qualify for your loan, you would risk losing your deposit. The financing clause basically says that the contract is contingent on you getting the loan you're applying for.

3) Contract Assignment Clause

For real estate investors, this is an important clause. This gives you the right to assign the deal to other investors or get other people involved if necessary. Basically, this clause removes you from being the only person who can close the deal.

These are some of the most common and most important clauses in a real estate purchase contract. Although the legal language in the contract can be intimidating, just realize that all the document is meant to do is protect the buyer, seller and their agents by covering every possible point before the purchase.

There is a lot of free information available to you about buying, selling or investing in Hawaii Kai real estate. For complete information about the Hawaii Kai real estate market including current homes for sale, property values and more please visit our Hawaii Kai real estate website. Please also fee free to call us at 888.450.4140 anytime.

When you are ready to sell your Kailua home, whether you use a real estate agent or not, you need to have a market analysis conducted in order to price it correctly. You can try and do one yourself with online information, however, it probably won't be very accurate so it is best to utilize the services of a professional.

The most important thing to remember about a market analysis is that you are only being given the information as it is available to the agent. When Kailua sellers put their house on the market they typically have a price in mind before they talk to a real estate agent. They may have an amount that they want to have in order for the sale to be worthwhile for them. And they may even have to clear a certain amount in order to get into their new home. Unfortunately, in a market analysis none of this matters.

When an agent compiles a market analysis they are using the information provided on their mls database. The first step is to look at the comparable homes that have sold in the Kailua neighborhood with comparable being the operative word. If the homes that have sold do not closely resemble your home then adjustments have to be made. For instance, if a comparable home has an additional bedroom that yours doesn't then you have to deduct the value of a bedroom.

An important point with sold homes is the sold price at closing- not the asking price. This may differ by tens of thousands of dollars. What someone is asking is irrelevant: what it sells for is what is important. Neighbors may quote prices, what they paid, what it appraised for, etc., but, again, that is not where the information will come from.

If there are foreclosures in the neighborhood within the last six months they will have to be considered as comparables. This will probably bring down the value, but this is the exact same information that the appraiser will use when they appraise it for the lender. There is no way around this.

Another common misconception is how much current Kailua homes for sale are listed for. These homes have not sold yet so their information is irrelevant. Just because someone may be asking more for their home doesn't mean it is worth that much.

For information on how much your home is worth, give us a call at 888.450.4140 or visit our Kailua real estate website.

It's a smart move to hire a Kailua real estate home inspector to examine your potential home. But, wait. Before you sign that contract and pay the Kailua Hawaii home inspector to inspect your dream house, perhaps you should consider a few things first?

One thing you should know about Kailua home inspectors is that their professional standards of practice tell them that their job is only to make an objective and independent VISUAL assessment of a home. That means they are not even allowed to move any personal belongings of the home owner or rearrange furniture in order to gain access to hard-to-reach places, like the attic or the garage. And, of course, if they cannot enter those places, then they wouldn't be able to inspect them and just satisfy themselves by writing on the Kailua home inspector's report that they "were not able to assess the attic because of personal belongings blocking the way."

The major components of your house are all important. If something's wrong with any of them, it is you who'd end up spending a lot of money for repairs. Getting a Kailua home inspector to point out the problems and their symptoms before they get out of hand is one way of saving you from unwarranted expenses on a house you only recently purchased.

Therefore, your Kailua home inspector has his role to play. And you have your own part to accomplish.

Keep an Eye Out for Yourself

Even before the contract is signed, it pays to keep a keen eye out for potential problems yourself. It isn't enough that you depend on your Kailua home inspector for everything. In fact, that's even the reason why it's much more preferable if you join your Kailua home inspector during the walk-through.

So below are some tips that you can use as you make the initial walk-through of your potential home:

From A Distance

A good place to start your own inspection is from the side of the road. Kailua home inspectors have their own methods of assessing the visual components of a house, but usually, they start with the whole picture before moving in to look at the details. As for yourself, take a look first at how the house is situated. If the land slopes toward the house, find out if there is adequate drainage, in case of flooding. Then, check for straight roof lines. A roof in good shape is one without odd-looking dips, bumps, or bubbles, unless this is all part of the overall design.

Up Close

Now, step closer and examine the house's exterior. This is the second part of a Kailua home inspector's examination. Pay attention to the siding and trim and see if it is painted. If it is, is there any bubbling or major peeling? Also, find out if the earth around the house comes in contact with siding or trim details. Look at the windows and doors and see if they are in good condition. Especially, notice if the storm windows are intact or if its screens and glass panels are in place.

Inside the House

Check the ceilings and walls for signs of water damage, such as stains or evidence of mold. Is there loose plaster or peeling paint?

These are only some of the things you need to pay attention to as you do a pre-inspection before a Kailua home inspector arrives.

There is a lot of free information available to you about buying, selling or investing in Kailua real estate. For complete information about the Kailua real estate market including current homes for sale, property values and more please visit our Kailua real estate website or give us a call at 888.450.4140.