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- Condotels and Condominiums on Maui
When making the decision to purchase a condominium or a condotel on Maui, it’s important to understand the difference between the two types of properties and the lending qualifications that may apply to each one.
- Condo Ownership and Vacation Rentals
Frequently clients will ask, “Should I put my condo into a vacation rental program?” and “Can I expect to make any money?” There are qualitative considerations – whether you want others in your unit; the percent of time you want it for personal use, etc.
- FAQ Mortgage Process
The most frequently asked questions I receive are how to start the loan process.
- Helpful Mortgage Hints for the Self-Employed Individual
Self-employment offers unique challenges and personal freedoms. Those who are self -employed should not view their employment status an obstacle to larger financial opportunities, such as home ownership.
- Understanding Leasehold and Fee Simple Home Buying
Buyers of property on Maui may be confused by two terms that can be associated with buying a home or condominium in Hawaii. Those terms are “leasehold” and “fee simple.”
- The Interest Only Mortgage Option
An interest only loan means that the terms of the loan permit you to make monthly interest only payments for a period of time specified in the loan.
- Three Steps to Home Ownership
If you are among those who are thinking of buying a home on Maui, there are three simple steps you can take to help prepare for your purchase.
- NAR Conference Presentation by David Lereah, NAR's Chief Economist
David Lereah, Chief Economist for NAR, spoke to a packed audience Friday morning, October 28, 2005 concerning Economic Issues & Residential Business Trends
- Kihei Community Association - Needs Our Participation
The Kihei Community Association is the voice of South Maui and needs the support of many more residents to increase it's effectiveness.
- Selling Your Maui Home or Condo? Here is topic #1 in a series of Key Factors to Consider
Don't underestimate the marketing power of photos. To effectively sell real estate on Maui, whether land, condo or home, it requires a combination of skills, whether you are a Maui Real Estate Agent or Owner/Seller....and photography is at the top of the
- Selling Your Maui Home or Condo? Here is topic #2 in a series of Key Factors to Consider
Staging is a real eatate marketing technique that has been around for a while. Today, in this increasingly competitive environment, it is all the more important.
- Selling Your Maui Home or Condo? Here is topic #3 in a series of Key Factors to Consider
How to Maximize Your Home or Condo's "Showing" Appeal
The Inventory of Homes and Condos For Sale on Maui is Growing. Here is How to Make Your's Stand Out.
- Selling Your Maui Home or Condo? Here is topic #4 in a series of Key Factors to Consider
Key Factor number 4 – Exposure – Getting your Property in front of as many prospective buyers as quickly as possible is another key factor in a Successful sale.
- Purchasing Maui Real Estate Utilizing a 1031 Exchange
Opportunity for 1031 Exchange Transactions Abound on Maui; but, Use Only Reputable Intermediary.
- New CMAs Available for Wailea and Makena Condos, Homes and Land
A New Monthly Update of all Wailea and Makena CMAs Is Available at www.BobStaples.com. All CMAs include Wailea and Makena real estate activity through June 30, 2006.
- The Maui Real Estate Market - Prices Up - Volume Down
Annualizing the first half of 2006's statistics, the average prices of Maui Real Estate (houses, condos and land) in the first half of 2006 are higher than the averages for 20005, but, the number of houses, condos and land parcels sold has dropped by appr
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By Tricia Morris President,
Premiere Mortgage
Stable interest rates, low unemployment, increasing personal income, inflation under control and a strengthening economy all point to expanded opportunities for home ownership as more planned inventory comes into the market. Now is a good time to take a look at your credit and take the necessary steps to be sure you’re ready when opportunity comes.
Since buying a home for cash is beyond the reach of most of those purchasing a home, a mortgage is the method most families will use. If you are thinking about a first time home purchase, it’s important to understand that getting your credit established for the mortgage is a process that can be planned in advance.
There are a few steps you can take to establish and maintain good credit:
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Keep your checking account balanced and don’t bounce checks. Better yet, have the account in your own name, not a joint account.
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Make payments on time. Give yourself time for payments to arrive and be processed. If the payment is due on the first of the month, mail it on the 20th. That way it is in the office and credited to your account on time. Mailing it on the first, or sending it in a day or two ahead of the due date can lead to the payment being logged in as late.
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It may seem a circular argument, but to get credit you have to have credit. Maintain 2-3 credit cards, but don’t max them out, and pay them in full and on time. You can also establish credit by having a car loan.
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Keep your consumer debt to less than 30 percent of your monthly income.
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Pay your household bills on time; this includes your utility bills and the telephone bill.
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Each year, take a look at your credit report. Correct any errors immediately. Often it can take 30 days or more to clear an incorrect entry, so don’t wait until it’s a critical problem. The major credit reporting agencies are: Equifax Information Center (1-800-685-1111), Experian Information Solutions (1-888-397-3742) and Trans Union Corporation (1-800-888-4213).
Recent changes in federal law allow a consumer to request a free copy of their credit report every 12 months. This law is being implemented gradually across the country and Hawaii is in the early group of states in which the law is now in effect.
Previously, credit report requests could be counted against a consumers credit score because the credit scoring software programs assumed that a request was a preliminary step in making a credit-related purchase. The law requires that the credit reporting companies eliminate this element from their programs.
Like an athlete preparing for a competitive event, winning the Gold comes after preparation, determination and consistent effort. A good coach is also helpful. As you make plans to build your credit you can also visit with a reputable professional mortgage broker. They work with a variety of lenders, and can often help you sharpen your planning so that you can move more quickly toward your goal and the finish line.
Premiere Mortgage has offices in Kihei and Kahana. Tricia Morris may be reached at 874-8800. |