Hawaii Association of Realtors Bulletin
Helping our clients understand financing options...

This is the body of my most recent Hawaii Association of Realtor bulletin. It is designed for us (Realtors) to assist our clients understand the various financing programs out there and what to be cautious of. Rather than make you (my Clients or potential future Clients) ask me or a loan officer about these, I am publishing it on my website for you to study as you feel necessary. Many of you already are aware of what to be aware of, but there are always new programs that might be designed to lure consumers into a product that is not well suited for them.

Please read the following and ask me or your loan officer if you would like more information.

The National Association of REALTORS® has teamed up with several other organizations and federal agencies to produce brochures that will help prospective buyers make informed decisions on which kind of mortgage is best for them.

Specialty (Non-Traditional) Mortgages: What are the Risks and Advantages?
Produced jointly by NAR and the Center for Responsible Lending, this brochure will help your clients assess the risks and advantages of interest-only, negative amortization, payment option ARM, and 40-year mortgages.
 Download the Brochure >> or Download the Brochure (TEXT)>>
Realtor.Org Store Item # 126-105

Traditional Mortgages: Understanding Your Options
 While specialty mortgages may help make homeownership more affordable, they generate more risk and consumers should understand these risks before they choose a mortgage. This brochure, also produced jointly by NAR and the Center for Responsible Lending, explains that for most consumers, traditional fixed-rate mortgages and adjustable-rate mortgages (ARMs) continue to be excellent options.
Download the Brochure>> or Download the Brochure (TEXT)>>
Realtor.Org Store Item # 126-125

Learn About FHA Mortgages
This brochure, produced by NAR, FHA, and the Department of Housing and Urban Development, outlines the changes to FHA and how to qualify for an FHA mortgage, and other resources available from FHA, HUD, and NAR.
Download the Brochure>> or Download the Brochure (TEXT)>>
Realtor.Org Store Item # 126-128

How to Avoid Predatory Lending
Finding an affordable home loan with fair terms and reasonable costs is a crucial step towards achieving homeownership. Unfortunately, home buyers need to be aware that some lenders offer predatory loans that take advantage of consumers. This brochure, produced jointly by NAR and the Center for Responsible Lending, identifies the warning signs of predatory loans. It also gives consumers tips on how to avoid them, including questions they should ask when shopping for a loan.
Download the Brochure >> or Download the Brochure (TEXT)>>
Realtor.Org Store Item # 126-135

Mayor approves West Oahu ferry service
Pacific Business News

The mayor and City Council have approved the startup of a commuter ferry that will run from West Oahu to downtown Honolulu..."
--This could help ease the traffic situation coming to town in the morning and going back west in the afternoons. Rick--

Students bear brunt of dorm repair rush
By Laurie Au The Honolulu Star-Bulletin

Displacements like forcing residents to move twice in the last week are likely to continue..."
--Should the U.H. Student in your life put up with the dorm life or would he/she be better off in a starter apartment or condominium near campus?? Rick--

Kawamoto readies more charity homes
By Nina Wu The Honolulu Star-Bulletin


Photo by CINDY ELLEN RUSSELL / CRUSSELL@STARBULLETIN.COM<br />Japanese billionaire Genshiro Kawamoto talked with media yesterday in one of the Kahala homes he will offer to a family to live in rent-free. The homes will be available starting this summer. At left is Kawamoto's interpreter, Ayano Hara.

Photo by CINDY ELLEN RUSSELL / CRUSSELL@STARBULLETIN.COM<br />Japanese billionaire Genshiro Kawamoto yesterday showed off the 4806 Kahala Ave. property that will be turned over to needy families he is selecting from more than 3,000 inquiries."Genshiro Kawamoto says five more Kahala homes will be ready for families to move in..."

Photo courtesy CINDY ELLEN RUSSELL Honolulu Starbulletin




--This is a very interesting idea and situation for this Japanese billionaire to bring to the Kahala neighborhood. I am closely following this story. Rick--

Click to read full story ->

Oahu real estate market firming up
Pacific Business News (Honolulu) - 2:27 PM HAST Friday, May 11, 2007

"Sales are up, prices are up and the number of days homes on Oahu are staying on the market are down, all signs that the state's largest real estate market may be gaining strength..."

City measures seek to reopen raceway
By Crystal Kua

"Councilman Apo proposes a possible land swap for the city to obtain the site..."
--This is a subject that I follow closely. Not only it is a Real Estate matter, it involves Oahu's only motor sports raceway park! A place I used to frequent and miss. More of my hobbies and interests may be found under the "About Me" section of my website.-- Rick

Negotiating the Right Protection
by M. Anthony Carr May 10, 2007

"During the home-buying process, there's more to negotiation than just price and terms..."

Hawai'i's home sales buck previous trends
By Andrew Gomes Advertiser Staff Writer

Sssssssssssssssssssssssssssssss.
That's the sound of a predicted slow leak for O'ahu home prices this year, a leak economists say should plug itself next year to set up a gentle multi-year price rise."

Chef Nobu shares his food philosophy
By Wanda A. Adams Advertiser Food Editor

Image courtesy Honolulu Advertiser. Salmon tataki with paper-thin salad, paired with a garlicky Jalapeno Dressing, can be made at home. Click for full story."Can't wait for the eagerly anticipated Nobu Waikiki restaurant to open May 28?..."
Read full story...

---A highly anticipated addition to the already amazing selection at the newly developed Waikiki Beach Walk Project! I love living in Waikiki and being able to go for evening walks to some of the best restaurants around!---Rick

Oahu home sales, prices rise
Pacific Business News (Honolulu) - 9:36 AM HAST Wednesday, May 2, 2007

"The number of single-family homes sold on Oahu rose last month and the median price of a house was also up, the Honolulu Board of Realtors reported Wednesday... Read full story >

O'ahu single-family home, condo prices surge in April By Andrew Gomes Advertiser Staff Writer

"Sale prices for O'ahu existing single-family homes and condominiums last month surged to near-records after four months of weakness, according to a Honolulu Board of Realtors report...." Read full article >

Luxury home sales reported up in Bay Area -
Silicon Valley / San Jose Business Journal - 11:07 AM PDT Tuesday, May 1, 2007

Alain Pinel Realtors reported Tuesday that first quarter sales of high-end and luxury-priced homes in seven Bay Area counties rose slightly in the first quarter...
Full Article-->
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