Some things are voted in because they are good and this is one of them. So when driving through the middle of nowhere and you see one of those taco lunch trucks, you should stop!!! Good eats, I swear. They are located in Central Kihei as well…1279 S. Kihei Road. Good prices, large portions, they even cater your events.
Be Well Kihei
Mary on Maui
www.maryonmaui.com
I can say I think that the landslide vote clearly states that change is what we want and need here in the U.S.A.
The key to the next 6-12 months for Maui Real Estate is going to be to get ready when the oppprtunity comes. Get prequalified if you are looking for a home or condo, find out any challenges that you may have prior to finding a dream home and if you are looking at short sale properties be prepared to be patient. Time is what the banks need and if you want that “deal” you are going to have to practive what your parents tried to teach you years ago. Patience is a virtue!
Century 21 All Islands-Wailea
Mary on Maui
For years people from the mainland have asked me…isn’t Maui all lease hold land. Or can you actually purchase property here on Maui. The answer is yes! YES YES YES. You can even purchase the leasehold land and pay the lease fee during ownership.
What Is Fee Simple Ownership?
Fee simple also known as fee simple absolute or allodial ownership is probably the most familiar form of property ownership to buyers of residential property, especially on the US Mainland and common law countries. A fee simple buyer acquires ownership of the entire property, including both the land and buildings. The fee simple owner does not pay ground rent, but does pay maintenance fees and real property taxes. The fee simple owner has the right to possess, use the land and dispose of the land as he wishes – sell it, give it away, trade it for other things, lease it to others, or pass it to others upon death. The fee simple estate is also called fee simple absolute (because it is the most complete form of ownership), “estate in fee simple” or “fee-simple title.”What Is Leasehold Ownership?
A leasehold interest is created when a fee simple landowner enters into an agreement or contract called a ground lease with a lessee. A lessee buys leasehold rights much as one buys fee simple rights; however, the leasehold interest differs from the fee simple interest in several important respects. First, the buyer of residential leasehold property does not own the land and must pay ground rent. Second, his use of the land is limited to the remaining years covered by the lease. Thereafter, the land returns to the lessor, and is called reversion. Depending on the provisions of any surrender clause in the lease, the buildings and other improvements on the land may also revert to the lessor. Finally, the use, maintenance, and alteration of the leased premises are subject to any restrictions contained in the lease. Conversion of leasehold property to fee simple ownership involves purchasing the landowner’s remaining interest, called the leased fee interest. The lessors of many, if not most, leasehold properties are currently offering to sell their leased fee interests to their lessees or prospective buyers of a leasehold property. There is a State of Hawaii law and a City & County of Honolulu (Oahu) ordinance affecting the mandatory conversion of residential leasehold properties. It is extremely important to understand fee simple vs leasehold because it: affects your decision to buy, affects your ability to obtain a loan and it affects your ability to sell.
Hope that helps.
Mary on Maui www.maryonmaui.com
Happy Halloween to the kids and adults alike…to the tricksters and the just sweet angels, princesses, and even to the witches! Would it not just be the coolest thing if we could wake up and decide what we wanted to be each day of our lives. We would wake up with the anticipation to be the super hero, the king, or even Pocahontas….we would have smiles on our faces, do our hair a bit different, and even plan on speaking and smiling to more people than just a regular day. As I sit here at Century 21 in the Shops in Wailea…I notice this is a different day than most for the people walking by. The kids that are dragging the adults behind as they look for the treats in life! The parents remind them of what to say and the kids are so super excieted that they just got something (candy) and you can tell (by the smiles) they appreciate the treat from a stranger…. The parents are even more apt to speak to others just passing by. Perhaps it will be my challenge for the next 365 days to show how I am super excieted to be here on this island 100% totally blessed (I get to see the sun and the ocean everyday!) and by the people around me who when I smile, they smile back. It’s the little things that we should stop to grab….candy, smiles, a glance at someone or something we love…be kind out there and walk like you are what ever you dream to be EVERYDAY. The world would be a better place if we all just took the time to enjoy….. look around at the small things.
I have this great listing compared to a number of homes in the neighborhood it is well maintained and has a wonderful pool and sense of serenity to it. It was being rented out as a Transient Vacation Rental and like most complaints that have been filed with the county of Maui it was more of one neighbor against the other. Unfortunately for my seller this has forced her to sell. The Maui News and its writers have presented her as the bad woman from California but the reality is she is my client, my friend, and more importantly great business woman who was providing a place to stay so guests could afford to come here and enjoy Maui on a buget those guests who helped stimulate our local economy by dining and shopping. …… This home also provided income for house keepers, handymen, pool cleaners, landscapers and more. GET and TAT on the income as well.
How hard is that to not find some support for? The reality is that we, as a community, better start looking to each other with a conscience of kind support not a divided standpoint that can rip apart someones life in a blink of an eye. The house would be great for a family with children. Its on a cul-de-sac, has a pool and four bedrooms. Its got to be sold so take a look, you may know someone who will appreciate the house, its upgrades and its pricing.
http://www.maryonmaui.com/featured.html
Have a peaceful day!
As we are all blogging about current events, the economy, and the lending institutions of America I had to just toss out there something a bit more appealing and easy to digest (no pun intended!) If you have not tried it yet the newest of the hot spots in Central Kihei is Wok Star. Right by Foodland and Lifes a Beach there is a great spot for fresh fabulous food! Come down and support our local economy by trying some tasty bowls of noodles, rice, and the freshest veggies around. The menu appeals to all tastebuds and everyone can be satisfied for less than $10. Open from 7am till Midnight for you party goers….they even have a frequent buyer card where you can get some free meals as you add to your punch card. A great spot to come and get a quick bite and you can even BYOB.
I know its last minute but is that not how word gets spread around Maui and the Planning Departments mettings. Come one and come all on Thursday Oct 23rd at 5pm till 8pm at the Kihei Community Center. Maui’s currently plan for South Maui is to have Kihei triple, yes that is TRIPLE!!!, in size by the year 2030. Come and have the opportunity to comment on growth, where, when and how we want our community to look.
Provide input….comment, suggest regarding proposed urban growth boundaries and ENSURE that the interests of South Maui are incorporated into our piece of paradise. For more information eamil david.michaelson@mauicounty.gov or call him at the planning department 270-7214
Mahalo, Mary on Maui
Mortgage Interest Rates: On Their Way Up? While no one knows for certain, many experts predict that interest rates will gradually increase. In a recent interview with U.S. News, Weiss Research analyst Mike Larson said it would not be unlikely for us to see a one-half percent increase on a 30-year fixed mortgage rate in six months, and a one percent increase a year from now. With the 30-year fixed rate still historically low at around 6 percent, now is a good time for homeowners with variable rate loans to consider refinancing into a fixed rate loan.
For home buyers waiting for housing prices to drop, it’s a good time to evaluate how a change in interest rate affects buying power.
Got questions on what a 1% increase could do for your payment or your purchase power based on amount of house you may be able to afford….. Drop me an email with a purchase amount and I can have a mortgage specailist work some numbers up for you! Mary@maryonmaui.com
Mary on Maui
Call your attorney or tax consultant…call the bank and see what they can do for you. I went onto Countrywides website and under services there was a link to financial hardship assistance for those consumters having a hard time paying your mortgage. They want to help resolve the problem. The banks are in the business of lending money not owning properties.
State of Hawaii: Act 137 is prohibiting Realtors from giving advice, guidance and assistance to the consumers that may need it. You may need a distressed property consutlant letter for a title person or attorney or CPA to help you because for now, as Realtors, our hands are tied.
We want to help and we can only hope that the lawmakers here in Hawaii can see that they are not protecting the consumers from preditors…they are prohibiting them from making choices for whom talks to the lenders on their behalf.
Act 137–The Mortgage Fraud Prevention Act is “to protect Hawaii consumers from persons who prey on homeowners who face property foreclosures, liens or ecumbrances”. As the consumer you may need to seek legal adise on any distressed property sale. What is a defines a distressed property?
1.Property that is in foreclosure or risk of foreclosure-more than 60 days delinquent
2. Property that had a lien or encumbrance charged against it for non-payment of taxes, lease assessments, association fees, or maintenance fees
3. Property at risk of #2 and the fees are more than 90 days delinquent
4.Secures a loan for which a notice of default has been given
5. Secures a loan fro that has been accelerated.
A short sale that has fallen behind in payments by 60 days does apply to this rule. This new law is to protect you the consumer! More tomorrow on how to legally get assistance with your distressed property sale……Title companies, distressed property consultant contracts, etc.
Mahalo
Have a beautiful day! Mary on Maui
http://www.maryonmaui.com