September Newsletter

//September Newsletter

September Newsletter

 


Fine Island Properties Monthly Newsletter

Aloha,
As expected during this time of year, the market has cooled due to a lot of people going back to School.  This gives you a great opportunity to sell your property thanks to less competition on the market and with Single Family homes values rising to $700,000 it’s a perfect time!

Mortgage News

Buy a Home Without an Appraisal – A Good Idea?

Both Fannie Mae and Freddie Mac announced that starting September 1st on certain purchase transactions, an appraisal is no longer required. Is this a good idea? That’s the subject of this week’s story.

Technology has made some significant inroads into the mortgage industry over the past few years. Ever since the government took over Fannie and Freddie at the height of the housing crash, they have been collecting home values on every transaction submitted to them. This massive database stores the collective value of a large swath of American homes. Enough data has now been collected to where computer algorithms can now spit out an estimated value of a property with reasonable certainty – at least certainty enough for the government!

Appraisal waivers are not new to the mortgage industry. The housing crisis did give birth to the Home Affordable Refinance Program (HARP). Yes, the same program burned into your brain from repeated commercials on TV and radio for the past 5 years. The concept of the program is simple: The government already holds your mortgage. If you weren’t late on your payments, and were just refinancing to get a better rate, who’d care what the value of your home was. Dropping your rate and payment only reduces the risk, so it’s logical to do this.

Last year the appraisal waiver option was expanded to certain refinance transactions. If you had lots of equity, good credit, and sufficient income, the risk was perceived to be small, and an appraisal waiver was given as an option. This is a reasonable approach to lending. With low-risk factors to lenders, why force extra costs and time on the consumer.

Now the government, through Fannie and Freddie are getting a little too bold for my liking. On a purchase transaction we’re talking about new debt. The government isn’t on the hook yet. I’m all for technology, but this seems too much of a stretch.

I’ve always advised clients that complained about the cost of an appraisal to look at it as an insurance policy against paying too much. Over my 21 years of providing financing, I’ve seen many an appraisal not meet the sales price. In every one of those situations, I never heard another complaint about the appraisal cost.

I would like your feedback. This newsletter reaches a significant number of real estate agents and consumers. I think the response will differ from each camp. Reply to this newsletter and let me know if you would forego an appraisal in your next home buying transaction. I’ll tally the results and post them in next week’s newsletter.

Compliments of
Alan Van Zee
President | NMLS #: 297154
Hawaii Mortgage Company, Inc.
Company NMLS #: 232582
Phone: 808.988.6622
alan@hawaiimortgage.net • www.hawaiimortgage.net

SATURDAY: 
Lipoa Street Farmers’ Market:
8:30 AM – 12:00 NOON
Maui Swap Meet at Maui Community College:
6:00 AM to 1:00 PM
Ono Organic Farms Farmers’ Market in Hana:
10:00 AM to 6:00 PM
Upcountry Farmers’ Market at Pukalani Longs Drugs:
7:00 AM – 12:00 NOON
Maui Open Market, Maui Tropical Plantation:
10:00 AM -4:00 PM
Hana Fresh Market:
All Day
Paia’s One Love Farmers Market:
10:00 AM – 4:00 PM
Sunday:
Ono Organic Farms Farmers’ Market in Hana:
10:00 AM to 6:00 PM
Hana Fresh Market:
All Day
Paia’s One Love Farmers Market
10:00 AM – 4:00 PM

BE PREPARED!


September 2017

In this issue…

  • Our Featured Properties
  • Economic Update
  • Farmers Market Schedule
  • Outside of Real Estate – Calendar of Events
  • Video of the Month- Locally grown Dragon Fruit bowl

Calendar Events

Go to this link and check out the events happening in Hawaii.

VISIT FineIslandProperties.com 
for Maui Listings Search, our Blog, and More!

If you know of anyone looking to purchase a home or sell their home please don’t keep us a secret.  We will treat your referrals with the experience & aloha they deserve.  No Pressure, just Aloha Services. 

“The Key to your Hawaii Real Estate Success”

Click Here

Our Featured Properties


87-1528 Kuaha Street Waianae, HI 96792
$540,000 – Pending

Link to MLS Listing
Contact:
Agent:
Rhonda J Faleafine
RS-65614
Direct: 808-250-1463


50 Kapi Ln 16-101, Wailuku, HI, 96793, US
$325,000

Link to MLS Listing
Contact:
Agent:
Gina Duncan
RB-21124
Direct: 808-250-9858


747 Anapuni Loop, Lahaina, HI, 96761
$425,000 – Potential Short Sale

Link to MLS Listing
Contact:
Agent:
Gina Duncan
RB-21124
Direct: 808-250-9858


International Colony Club I- Unit 33
$550,000

Link to MLS Listing
Contact:
Agent:
Michael W. Buchanan RB-19438
Direct: 808-344-5639


55 Poinciana Rd, Lahaina, HI, 96761
$809,000 – REO

Link to MLS Listing
Contact:
Agent:
Michael W. Buchanan RB-19438
Direct: 808-344-5639


1024 Hao Kuni Pl, Maunaloa, HI, 96770, US
$179,000

Link to MLS Listing
Contact:
Agent:
Michael W. Buchanan RB-19438
Direct: 808-344-5639


Kauhale Makai – Unit 621
$279,000

Link to MLS Listing
Contact:
Agent:
Chris M. Bakeman
RB-19188
Direct: 808-283-6126


33 Ala Apapa Pl, Pukalani, HI, 96768, US
$1,038,800

Link to MLS Listing
Contact:
Agent:
Gina Duncan
RB-21124
Direct: 808-250-9858


Kihei Villages IV – Unit 19-102, Kihei, HI, 96753, US
$335,000 – Pending

Link to MLS Listing
Contact:
Agent:
Gina Duncan
RB-21124
Direct: 808-250-9858


Unit 102 Kai Makaini
$699,000

Link to MLS Listing
Contact:
Agent:
Gina Duncan
RB-21124
Direct: 808-250-9858


31 Ku’uhale, Kahului, HI, 96732, US
$505,000 – REO

Link to MLS Listing
Contact:
Agent: Michael W. Buchanan RB-19438
Direct: 808-344-5639


1011 Hoomau, Wailuku, HI, 96793, US
$490,000 – REO

Link to MLS Listing
Contact:
Agent: Michael W. Buchanan RB-19438
Direct: 808-344-5639


20 Kahope, Haiku, HI, 96708, US
$542,850

Link to MLS Listing
Contact:
Agent: Michael W. Buchanan RB-19438
Direct: 808-344-5639


30 Waikalani – Pending
$395,000

Link to MLS Listing
Contact:
Agent: Michael W. Buchanan RB-19438
Direct: 808-344-5639


7 Haiku Nani, Haiku, HI, 96708, US
$500,000 – REO

Link to MLS Listing
Contact:
Agent: Michael W. Buchanan RB-19438
Direct: 808-344-5639


111 KAHULUI BEACH D311, Kahului, HI, 96732, US
$70,000 – REO

Link to MLS Listing
Contact:
Agent: Michael W. Buchanan RB-19438
Direct: 808-344-5639


441 Kanaloa, Kahului, HI, 96732, US
$590,000

Link to MLS Listing
Contact:
Agent: Michael W. Buchanan RB-19438
Direct: 808-344-5639


33 Ala Apapa, Makawao, HI, 96768, US
$1,038,800

Link to MLS Listing
Contact:
Agent: Gina Duncan RB-21124
Direct: 808-250-9858


1024 Hao Kuni, Maunaloa, HI, 96770, US
$179,000

Link to MLS Listing
Contact:
Agent: Michael W. Buchanan RB-19438
Direct: 808-344-5639

Our Video of the Month
Chef Keoni teaches us how to make Ahi Poke!

 

Ahi Poke

Poke an Island Tradition

Our Team

 Gina Duncan
Principal Broker
RB-21124
Direct: 808-250-9858

Nancy Bulosan-Marvin
R (BIC), RB-21157
Direct: 808-281-5472

 Christina “Chris” M Bakeman
 RB-19188
Direct: 808-283-6126


Rhonda J Faleafine

R (S), RS-65614
Direct: 808-250-1463


Matt Daniells

R (B), RB-19622
Direct: 808-281-7175


Alicia Souza

R (S), RS-69029
Direct: 808-284-0049

Melissa Nakagawa
R (S), RS-77950

808-283-6327

Dan Uhrich
R (S), RS-
75656
Direct: 808-268-3435

Madeleine Buchanan
R (S), 
RS – 62490
Direct: 808-344-5639

Michael W. Buchanan
R (B), RB-19438
Direct: 808-344-5639

Hiroko Ward
R (S)
Direct: 808-264-9967

AGENTS WANTED: Fine Island Properties is looking for a few more team members. We are busy and ready to train you in a Real Estate Career Today. To refer someone or for a confidential interview please call Gina Duncan, R PB at 808-250-9858

Fine Island Properties LLC
RB-21750
“The Key to Your Hawaii Real Estate Success”
275 W. Kaahumanu Ave 2CA1
Kahului HI 96732

Located in the Queen Kaahumanu Center
Next to the Armed Forces Recruiters Offices

Copyright © Fine Island Properties, LLC, All rights reserved.

Our mailing address is:
275 W Kaahumanu Ave 2CA1  Kahului HI 96732


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By |2018-12-02T23:30:09+00:00November 23rd, 2017|Uncategorized|0 Comments

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