Archive for the For Buyers Category

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FOR IMMEDIATE RELEASE

How To Buy A Home In Hawaii: Metro Honolulu E-Book

“How To Buy A Home In Hawaii: Metro Honolulu E-Book”, by Jon S. Mann, the third in a successful selling series of real estate E-Books, is a comprehensive publication specifically designed for Metro Honolulu that informs, educates and instructs potential Metro Honolulu homebuyers on the Hawaii home buying process while providing valuable condominium and home buying tips. The book clearly identifies the eight basic steps to buying a home in Metro Honolulu and then explains in detail how each step is performed to achieve your Hawaii real estate goals. Along the way, valuable, straight-forward advice is provided in order to save you time and money in your home search and purchase efforts.

Honolulu, HI – February 5, 2012 - Jon S. Mann Real Estate, LLC, a full service Hawaii real estate brokerage and Jon S. Mann, Principal Broker, have published an E-book designed to consolidate and leverage the information resources available in our high-tech society and help educate individuals on the home buying process as it specifically relates to Metro Honolulu.

This E-book is designed to consolidate and leverage the information resources available in our high-tech society and help educate individuals on the Home buying process as it specifically relates to Metro Honolulu. The E-book contains over 75 resource links to additional information available on the internet to assist in your real estate activities in Metro Honolulu. The easy-to-understand question and answer format of the E-book allows the information to flow smoothly and effectively answers many of the most commonly asked questions by
Hawaii home buyers.

Whether you are interested in Salt Lake, Kapalama, Kalihi, Kam Heights, Chinatown, Nuuanu, Alewa Heights, Downtown, Punchbowl, Kakaako, Pacific Heights, Ala Moana, Makiki, Punahou, Tantalus, Moilili, Kapiolani, University, Manoa, or other Metro Honolulu neighborhoods, this book is for you.

Use this book and you will successfully navigate the ocean of information on home buying in Metro Honolulu and achieve your Hawaii real estate goals with resounding success.

The E-book will be available on all major online booksellers in mid-February 2013 for $3.99 and is currently available on the author’s proprietary website (www.HowToBuyAHomeInHawaiiMetroHonoluluEBook.com) Kindle and Nook versions are available for an additional $3.99 each.

About the Author
Jon S. Mann has been a REALTOR® since 2003 and is the Principal Broker and founder of the Jon S. Mann Real Estate, LLC in Honolulu. Jon is an MBA graduate of the University of Houston, a BBA graduate of the University of Texas at Austin, and has 25 years of consulting experience in the fields of financial management, project management, information technology infrastructure management, and of course, Hawaii real estate sales, property management and development.

Jon has authored several real estate books and is known for his commitment to assisting individuals in meeting their Hawaii real estate goals through a strong customer service orientation that is exhibited through honesty, integrity, and professional competence.

Jon S. Mann Real Estate, LLC, is a full service Hawaii real estate brokerage dedicated to exceeding client expectations by assisting, advising, and representing buyers and sellers through the residential real estate purchase and sales process. The company offers comprehensive home buyer and seller information packages, as well as, educational e-books.
In addition to residential sales, the company provides a variety of unique services, such as a Hawaii Real Estate Agent Referral Service (www.HawaiiRealEstateReferrals.com), a turnkey real estate e-book program and ecommerce marketing system for local real estate e-books as marketed through www.LocalRealEstateEBooks.com, Hawaii real estate coaching and consulting for investors and service providers, seminars and training sessions for home buyers and sellers, as well as a China Division and its Strategic Partnership Alliance Program to handle Mandarin and Cantonese speaking buyer real estate needs.
For more information about HOW TO BUY A HOME IN HAWAII: METRO HONOLULU E-BOOK, please visit www.HowToBuyAHomeInHawaiiMetroHonoluluEBook.com or contact Jon S. Mann at 808-728-1230.

JM-HTBAHIH-COE-ebook-1-256

FOR IMMEDIATE RELEASE

How To Buy A Home In Hawaii: Central Oahu E-Book

“How To Buy A Home In Hawaii: Central Oahu E-Book”, by Jon S. Mann, is a comprehensive publication specifically designed for Central Oahu that informs, educates and instructs potential Central Oahu homebuyers on the Hawaii home buying process. The book clearly identifies the eight basic steps to buying a home in Central Oahu and then explains in detail how each step is performed to achieve your Hawaii real estate goals. Along the way, valuable, straight-forward advice is provided in order to save you time and money in your home search and purchase efforts.

Honolulu, HI – February 5, 2012 – Jon S. Mann Real Estate, LLC, a full service Hawaii real estate brokerage and Jon S. Mann, Principal Broker, have published an E-book designed to consolidate and leverage the information resources available in our high-tech society and help educate individuals on the home buying process as it specifically relates to Central Oahu.

The E-book contains over 75 resource links to additional information available on the internet to assist in your real estate activities in Central Oahu. The easy-to-understand question and answer format of the E-book allows the information to flow smoothly and effectively answers many of the most commonly asked questions by Hawaii home buyers. According to the author, by simply following the “How-To” steps in this E-book and you will successfully navigate the ocean of information on home buying in Central Oahu and achieve your Hawaii real estate goals with resounding success. Everyone wants to own a little piece of Paradise . . . . and Hawaii is truly a paradise for those who can appreciate its’ physical beauty, cultural diversity and Aloha spirit.

The E-book is available on all major online booksellers as of February 2013 for $9.99 and is available on the author’s proprietary website (www.HowToBuyAHomeInHawaiiCentralOahuEBook.com) for $3.99 for a limited time promotional offer. Kindle and Nook versions are available for an additional $3.99 each.

About the Author
Jon S. Mann has been a REALTOR® since 2003 and is the Principal Broker and founder of the Jon S. Mann Real Estate, LLC in Honolulu. Jon is an MBA graduate of the University of Houston, a BBA graduate of the University of Texas at Austin, and has 25 years of consulting experience in the fields of financial management, project management, information technology infrastructure management, and of course, Hawaii real estate sales, property management and development.

Jon has authored several real estate books and is known for his commitment to assisting individuals in meeting their Hawaii real estate goals through a strong customer service orientation that is exhibited through honesty, integrity, and professional competence.

Jon S. Mann Real Estate, LLC, is a full service Hawaii real estate brokerage dedicated to exceeding client expectations by assisting, advising, and representing buyers and sellers through the residential real estate purchase and sales process. The company offers comprehensive home buyer and seller information packages, as well as, educational e-books.

In addition to residential sales, the company provides a variety of unique services, such as a Hawaii Real Estate Agent Referral Service, a turnkey real estate e-book program and ecommerce marketing system for local real estate e-books, Hawaii real estate coaching and consulting for investors and service providers, seminars and training sessions for home buyers and sellers, as well as a China Division and its Strategic Partnership Alliance Program to handle Mandarin and Cantonese speaking buyer real estate needs.

For more information about HOW TO BUY A HOME IN HAWAII: CENTRAL OAHU E-BOOK, please visit www.HowToBuyAHomeInHawaiiCentralOahuEBook.com or contact Jon S. Mann at 808-728-1230.

7 Things To Watch Out For When Getting A Loan to Buy a Condo On Oahu

1) The owner-occupancy rate typically needs to be above 50% for both FHA and conventional loans.
2) If there is pending litigation against the HOA, it could be a deal-killer for the loan.
3) If the HOA does not have a sufficient current reserves and a defined budget for long term manintenance needs, your loan may not get approved.
4) If the HOA fee delinquency rates are above 15%, your loan may not get approved.
5) If the condo project does not maintain sufficient insurance coverage, your loan may get denied.
6) If you are getting an FHA loan, make sure the condominium complex is on HUD’s approved condo list.
7) No more than 10% of units in a complex can be owned by a single owner.

I can assist you in determining if your condo of choice is compatible with the loan type your are planning to utilize…..call me today and we can discuss how I can hlep you…….Aloha, Jon..

This week the Federal Reserve publicized its intention to keep it’s near zero interest rate policy through 2014….to the delight of borrowers and stock market investors AND to the dismay of savers and fixed income retirees around the world.

Since 2008, the Fed has cut overnight borrowing costs to practically nil, meaning we will have experienced “emergency” rates for six years by 2014…..One can only hope that the US economy can finally stand on its own feet after such a prolonged period of “emergency” rates.

Regardless, I STRONGLY encourage all homeowners to consider refinancing their home loans if they have not already done so, as the savings can be immense…..and savers/investors, consider diversifying your portfolio with an income generating property in 2012 and borrowing some of the cost to take advantage of the rates…..Just let me know if I can be of assistance…….Aloha, Jon.

“If I could get you a home for the same price as in July of 2004, would you be interested?”

What do we mean by 2004 prices? The median price of single family homes has changed very little since 2005. For simplicity, let’s say $600,000. Interest rates have dropped 2 points in the last 30 days or so. That is the same as a 20% drop in purchase price. That means you can now buy that $600,000 home for the equivalent of $480,000. The last time the single family home median price was $480,000 was in July of 2004.

So pick up the phone, and call me today at 808-728-1230 and let me know that you would like to get a home for the same price as in July of 2004, and we will get the process started….It has been nearly five years since we have had such buying opportunities…..I look forward to speaking with you soon…..Aloha, Jon.

O’ahu’s housing market ended 2008 on a surprise up note with a rise in the median sale price for previously owned single-family homes. The median rose 2.7 percent to $626,500 from a year earlier, according to the Honolulu Board of Realtors.

Though the gain was attributed to more sales in a few higher-priced neighborhoods boosting the islandwide median price, it was the first year-over-year growth for any month since October 2007.

Still, the full year recorded a 3 percent decline in the single-family home median price, and there is agreement between local economists and some top real estate brokers that buyers and sellers should anticipate prices will fall this year by a greater, but still moderate, amount.

The University of Hawai’i Economic Research Organization projects the median single-family home price will decline 5.2 percent this year, and 2.6 percent next year.

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Local brokerage firm Prudential Locations anticipates the median price could fall 6 to 10 percent by midyear. It notes that price movements, which vary by neighborhood, could be down more than 15 percent in some areas.

Nationally, the median single-family home price was on pace to drop 9.3 percent last year after slipping 1.4 percent in 2007, according to the National Association of Realtors.

“The Honolulu housing market shows remarkable price resiliency, even with the number of reduced sales,” Sandra “Sam” Bangerter, Honolulu Board of Realtors president, said in a statement.

Bangerter said some Mainland markets have had median price declines of 18 to 30 percent.

One positive trend for housing is interest rates that are falling and acting as a counterweight to poor consumer confidence that has deterred many people from buying property.

Prudential Locations in a recent report said reduced interest rates and other moves by the federal government to stimulate the national housing market could lead more people to buy homes, which increases demand that helps support prices.

“Such loan products would have a tremendous impact on the Hawai’i market, making forecasted price reductions less drastic,” Prudential said in its report.

Prudential also cited efforts to reduce foreclosures, which depress property prices, as another positive prospect for the local housing market this year.

Content provided by Andrew Gomes at agomes@honoluluadvertiser.com.

In response to the Federal Reserve’s cut in the federal funds rate to near zero, Freddie Mac reports that the 30-year fixed mortgage rate fell to 5.17 percent during the week ended Dec. 18–down from 5.47 percent last week and the lowest since the survey’s inception in 1971. That is 37 years for those of you counting at home……Wow!

Interest on 15-year fixed loans slipped to 4.92 percent from 5.20 percent.

Meanwhile, the five-year hybrid adjustable mortgage rate dropped to 5.6 percent from 5.82 percent; and the one-year ARM dipped to 4.94 percent from 5.09 percent.

A year ago, the 30-year fixed rate stood at 6.14 percent, the 15-year fixed rate at 5.79 percent, the five-year hybrid ARM at 5.9 percent, and the one-year ARM at 5.51 percent.

When interest rates fall, as a potential homebuyer, your purchasing power increases…….Call me if you would like me to explain how this works……Aloha, Jon.

Robert Freedman is a senior editor of REALTOR® magazine and he recently wrote an article about the First-Time Buyer Tax Credit…….Here are the highlights of his article:

The $7,500 home ownership tax credit that the federal government created earlier this year (2008) as part of the Housing and Economic Recovery Act (H.R. 3221) is something that should help first time buyers to make the leap into real estate ownership.

When a buyer combines the tax credit with today’s low interest rates, wide selection of for-sale inventory, and affordable home prices, many of the pieces are in place for first time buyers to consider buying now, rather than waiting.

Here are 6 Facts about the First-Time Buyer Tax Credit:

1. Buyers have until July 2009 to make a purchase that qualifies.

The tax credit was passed in July of this year (2008) as part of the Housing and Economic Recovery Act (H.R. 3221). It’s worth up to $7,500 and can be taken in a single tax year. Authorization for the credit ends July 1, 2009, so if your customers wait to buy in the first half of 2009 they can take the credit on their 2009 tax return. Taxpayers can take the credit on their 2008 tax return if they bought their house this year after April 9.

2. Buyers don’t really have to be “first-timers.”

The tax credit is actually available to any individual or household that hasn’t owned a home for at least three years. And the NATIONAL ASSOCIATION OF REALTORS® has asked Congress to expand the credit to all buyers, not just those who haven’t owned a primary residence in recent years.

3. Even if buyers exceed the income limit, they can benefit from the credit.

The actual credit amount is set as a percentage of the home purchase amount. That percentage amount is 10 percent, so your customers can get 10 percent of the home price credited against their tax liability, up to a maximum $7,500. Sounds like a great deal. But what if your clients make more money than the income limit of $75,000 for individuals and $150,000 for households? Good news: Individuals whose income exceeds the $75,000 limit but don’t make more than $95,000 can still take the credit but on a reduced basis. The same thing applies to households earning up to $170,000. By the way, any house is eligible as long as it’s a primary residence and is in the United States.

4. Think of it as an interest-free loan.

The federal government requires the tax credit to be paid back in small, 6.67-percent increments over 15 years, although repayment will be no more than $500 yearly and payments will not start until 2011. For that reason, some analysts have likened the credit to a 15-year, interest-free loan to help make home buying affordable. NAR is pushing congress to remove the repayment provision, making this tax credit a true tax credit rather than an interest-free loan.

5. You don’t have to be authorized before making a home purchase.

There is no pre-purchase authorization, application, or other approval process. Eligible buyers simply have to claim the credit on their IRS Form 1040 tax return and/or any form that the IRS might devise.

6. New-home construction qualifies.

For a home that a buyer constructs, the purchase date is the first date the buyer occupies the home. However, any home that is not a primary residence, such as a vacation home or income property, does not qualify.

If you have any more questions about this Tax credit, please do not hesitate to give me a call sometime……Aloha, Jon.

The Pacific Business News reported this week that in their bleakest assessment yet of the Hawaii economy, University of Hawaii economists say the state is in a recession that started last quarter and will remain “deep and drawn-out” at least through 2009.

Hawaii, is projected to lose about 8,800 jobs next year and have visitor arrivals fall nearly 6 percent next year, according to the quarterly forecast released today by the University of Hawaii Economic Research Organization.

That would mean about 835,000 fewer visitors this year and 385,000 fewer next year.

The report was one of three forecasts released this week, all of which found the state’s economy to be on much shakier footing than even 90 days ago, the result of powerful turbulence from the global financial crisis.

The three forecasts also said Hawaii will not see any meaningful recovery from the downturn until 2010 at the earliest.

“The global financial crisis and widening global downturn have materially worsened prospects for the Hawaii economy,” wrote the authors, UH economists Carl Bonham and Byron Gangnes. “The Hawaii economy is now in recession, and as the downturn continues into 2009 we will see larger job and income losses than we have experienced to date.”

“We really think the fourth quarter of this year is going to be pretty bleak,” Bonham said and the first quarter of 2009 may be even worse, especially for the visitor industry.

“The consumer problems aren’t going to disappear after Christmas,” he said. “We really haven’t seen the full repercussions of a 20 percent drop in visitors.”

Hawaii’s unemployment rate, which had been historically low only a few quarters ago, is forecast to peak at 6.2 percent in the second half of 2009, and then remain above 5 percent through 2011.

My only personal thoughts on this report is that is not a surpise that the economy is in recession and will be for awhile, as anyone trying to make a mortagage payment and feed his family knows, but with that said……I still see the glass as half full……we may have 6% unemployment and 20% fewer visitors, but that means we HAVE 94% employment and 80% of the visitors are still coming to Hawaii…..each of us is responsible for keeping a positive attitude despite challenging times, so I urge you today to overcome the economy with a positive attitude and a smile, and remember, this too shall pass…..Aloha, Jon.

For a limited time, (through July 1, 2009) qualified first time homebuyers may receive a tax credit of up to $7,500 as part of the Housing and Economic Recovery Act of 2008.

Homebuyers must repay the tax credit over a 15-year period. It applies to both newly constructed homes and pre-existing homes. Buyers may qualify for the tax credit as long as the home is their primary residence and they have not owned a home during the past three years. It is available on single-family detached homes, townhomes and condominiums.

Buyers qualify for the full tax credit are single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000.

So put the tax credit to work for you and let’s work together to make the most of this unique opportunity!