|
| Aloha!
We have a wonderful assortment of articles, resources, tips and industry
updates for you this month and we hope you enjoy. Some of these include:
- Here on the Big Island: A Far Sighted
Solution
- Top 10 Tax Breaks, On the House
- Smoothing the Rough Road to Refinancing
- Battle of the Warring Housing Price
Indexes
- Going Green: Easier Than You May Think
- Understanding How Federal Reserve Cuts
Work
- December Round Up
- Local Market Conditions: Hilo Update
Don't forget to sign-up to receive regular
updates throughout the month from
Kelly's blog. Just
to give you an idea, some of the eclectic subjects blogged about over the
past month or so include: "Aloha Koa: The tree with the Aloha Spirit";
"Pigs: On the Big Island"; "Five-0 in 0-Seven: History of 'Hawaii Five-0'";
"Green Goodness: Hawaiian Avocados"; "Sticky Fingers: A Look at Poi";
"Nature & Culture: The Lyman Museum"; and more. If
you're not very familiar with signing-up for blogs, we've made it super
easy. Just click the email sign-up link in the right area, enter your email
address, and you'll receive each blog entry (about 1-2 per week) in your
email box. You can unsubscribe at any time. Of course, the traditional feeds
are also available.
If you are having any difficulty reading the newsletter below, you may view
the current newsletter here:
http://www.hilobrokersnews.com
In addition to the featured articles, don't forget to dig a little deeper
for additional articles located in the "Daily News & Advice" area, as well
as the "More Articles" section.
Mahalo,
Kelly & the Hilo Brokers, Ltd. Team
|
|
|
|
|
|
Your
Big Island REALTOR:
Kelly H. Moran
|
Quality Big Island Real
Estate Service & Experience
for Over 20 Years!
|
Some Articles Copyright © 2008 Realty
Times
All Rights Reserved.
Hilo Brokers, Ltd.
808-969-9400
400 Hualani St.
Bldg 21
Hilo, Hawaii, 96720
|
|
|
|
|
|
|
|
 Here
on the Big Island: A Far Sighted Solution
- By
Kelly H. Moran
Over the
past 30 years, observatories have been built on many of the
cinder cones at Mauna Kea’s summit. And although a Hawaiian
ceremonial structure stands on the very highest peak,
science and religion have not always dwelled there in
harmony. But the aloha spirit has prevailed since 2005 with
the opening of ‘Imiloa, the Astronomy Center of Hawaii, in
Hilo.
 Conceived
and built not as a museum but as an “interpretive center,”
its three shiny conical roofs evoke the Big Island’s largest
volcanoes; and all the landscaping is in native Hawaiian
plants. More importantly, inside, ‘Imiloa honors the
Hawaiians’ culture and religion - especially their concept
of creation, which is presented in considerable detail,
right alongside the findings of today’s astrophysicists
about “black holes” and the “big bang.”
Another large permanent exhibit
showcases the Polynesians’ voyages around the Pacific.
Reaching Hawaii would have been impossible without their
(literally) astronomical navigational skills. Wherever links
can be made between modern astronomy and Hawaiian cosmology,
they are made. And everything at ‘Imiloa (which means
“far-seeing”) is captioned in both Hawaiian and English.
 The
work of the various observatories is also explained in plain
language, with interactive, hands-on exhibits - something
that probably should have been done, somewhere on the Big
Island, decades ago. Mauna Kea is particularly well suited
for telescopes that use infrared and “submillimeter”
wavelengths of light, which reveal far more details about
the stars and galaxies than can be seen in ordinary
“visible” light.
‘Imiloa (www.imiloahawaii.org)
also has a planetarium, with various star-shows several
times a day, and a café run by a local celebrity chef. It’s
just mauka of the University of Hawaii’s Hilo campus, and
open Tues-Sun from 9 am - 4 pm.
 |
|
|
|
|
Mortgage Rates
U.S. averages as of December 27, 2007:
30 yr. fixed: 6.17%
15 yr. fixed: 5.79%
1 yr. adj: 5.53%
View current rates
|
|
 |
|
Featured
Listing
An
elegant oceanfront oasis four miles north of Hilo,
just across Honolii Bridge on the Big Island of
Hawaii. At the driveway end, on a bluff overlooking
a Hilo Bay panorama, you'll find a private and
elegant estate home. Very few homes in Hilo are
truly oceanfront - this is a rare offering. Situated
on an extra large lot overlooking one of east
Hawaii's favorite surf spots, this residence offers
panoramic views from most rooms.
Virtual Tour, Images & Current Price:
Click Here
|
|
Click Here for Local Market Conditions:
Hilo Update
|
|
Top 10 Tax Breaks,
On The House
 The
New Year always turns thoughts to the new tax season and when
it comes to taxes there's no place like home to find shelter.
Your home offers a score of tax deductions and credits
designed to help offset the cost of housing and to keep the
housing market fueled with new buyers.
Here's a look at
the Top 10 Tax Breaks, On The House.
CONTINUED >>> |
|
|
|
|
|
|
|
|
|
|
|
|
|
Upcoming
Island Calendar of Events
EVENING AT KAHUA RANCH - SUNSET DINNER
Date: Every Tues. & Thurs.
Place: Kahua Ranch (North Kohala)
Come visit an authentic 8,500 acre working cattle ranch owned by
the Richards Family. Meet a member of the Family and learn about
the Hawaiian Paniolo (cowboy). Transportation. Dinner. Local
Beer, Wine, Soda/Juice Bar. Live Music & Dancing. Roping,
Branding, Horseshoes, S'mores & Stargazing. Call: (808) 883-8601
or email Sue Foat .
MA LALO O KA PO LANI (UNDER THE NIGHT'S
SKY)
Date: Every 3rd Saturday of Each Month
Time: 6:00 p.m.
Place: Mauna Kea Visitor Information Station
An innovative program of cultural experiences shared by members
of our Hawaiian communities followed by the regular evening
stargazing program. Call: (808) 961-2180 or
visit their site.
HAWAII
VOLCANOES NATIONAL PARK EVENTS:
AFTER DARK IN THE PARK
Date: 2 or 3 Tuesdays per month
Time: 7:00 p.m.
Place: Kilauea Visitor Center Auditorium
After Dark in the Park is a series of free evening programs on
topics of geology, biology, Hawaiian culture and history. Call:
(808) 985-6014 or
visit their site.
RANGER-LED PROGRAMS
Date: Daily
Ranger-led walks and hikes enrich your knowledge of the Park's
resources and Hawaiian culture. Walks may be wheelchair
accessible or may be longer hikes. The daily schedule of ranger
presentations is posted each morning at 9:00 a.m. in the Kilauea
Visitor Center. Call: (808) 985-6000 or
visit their
site.
VOLCANO ART CENTER
Date: Ongoing
Place: Kilauea, Hawaii Volcanoes National Park
The Volcano Art Center is a nonprofit, tax-exempt, educational
organization created in 1974 to promote, develop and perpetuate
the artistic and cultural heritage of Hawaii's people and
environment through activities in the visual, literary and
performing arts. Under a cooperating agreement with the National
Park Service, Volcano Art Center presents ongoing programs in
the Park. Call: (808) 967-8222 or
visit
their site.
For additional Island events, see the
Big Island Calendar of Eco-Cultural Events.
|
|
|
Battle of the Warring
Housing Price Indexes
We
saw another "battle of the
warring housing price indexes" last month, with the federal
government reporting positive price appreciation in more
than two-thirds of U.S. metropolitan markets -- at the same
time a widely-publicized Wall Street index said home values
were down by a record 4 percent for the year, and down by 5
percent in the top 20 markets.
How could there be
such big differences? And which index is right?
Here are the
facts:
The federal
government's house price index is produced quarterly by an
agency called the Office of Federal Housing Enterprise
Oversight (OFHEO). It measures valuation movements in a
massive database of millions of homes whose loans were
financed or refinanced by Fannie Mae or Freddie Mac.
|
The data covers
nearly 300 major metropolitan markets and dozens of smaller
non-metropolitan areas.
In its latest
index, released November 29, OFHEO reported prices in some
California and Florida markets down by 10 percent or more
during the year. But it also found average price gains of 13
percent in the state of Utah, 12 percent in Wyoming, and 7
percent or higher in Montana, New Mexico, and Washington.
Plus it reported stable prices or modest gains in 204 of
287 cities, declines in 83, and an average national
appreciation rate of 1.8 percent for the 12 months covered
by the study.
Compare those numbers with the Standard & Poor's/Case-Shiller
study that was released the same week. It found prices down
in 15 of the top 20 real estate markets -- an 11 percent
decline for Tampa, 10 percent for Miami and 9.6 percent for
San Diego. Overall, according to Case-Shiller, average home
values dropped by 5 percent for the 12 month period.
What's going on here?
CONTINUED >>> |
|
|
|
|
|
|
Enroll Today!
Kelly's Blog
is now available.
Read online, RSS feed, or receive easy email notifications of
new posts. Just use the handy Subscribe Here links in the
blog's right hand column.
|
Wondering
What
Your Home is Worth?
Let us show you
Daily News and Advice
Read about the events shaping the Real Estate
market today, find current interest rates, or browse the
extensive library of advice and how-to articles written by some
of the top experts in Real Estate. Updated each weekday.
|
More
Articles
|
Smoothing The Rough
Road To Refinancing
 Lower
interest rates could offer some financial buoyancy for those looking
to refinance before they get in over their heads.
Home mortgage interest rates
have been flat or falling since early October. The falling average
rate probably won't help those who purchased a home, a year or two
ago, especially if they had a small equity stake in their home. "The
problem is a lot of people in those products is they don't have any
equity in the house and lenders want equity to refinance," said
Glenda Queensbury, a mortgage adviser in San Jose, CA.
However, there could be a
safe harbor available for others facing a resetting adjustable rate
mortgage (ARM) with the potential for higher rates and unmanageable
mortgage payments.
The key, say the experts, is
to examine your options early.
"Absolutely. When people
start feeling the pinch don't wait until you are delinquent. The
more delinquent you become the more options that will start going
off the table" says William Higgins, chief lending officer of online
bank Ing Direct.
Higgins says it's a good idea
to visit your existing lender first. That's especially true if your
lender doesn't sell loans and has a vested financial interest in
keeping its portfolio intact. Don't overlook other banks, credit
unions and other lenders that retain loans.
"Behaviorally we might be more strict, but that's the important
thing. We worry more about what happens because whatever happens to
the borrower, happens to us. Portfolio lenders also have an
advantage of not being in the unpredictable secondary market,"
Higgins said.
Higgins says in-house lenders are generally easier to work with
in terms of refinance options, including loan modifications to help
homeowners retain their existing loan and get out of trouble.
Queensbury said in-house lenders also have the option of trading
more lenient underwriting standards for higher interest rates, a
strategy that can give borrowers more wiggle room to refinance.
Trading an ARM for a fixed rate that's higher now isn't a bad
deal if that ARM rate will eventually become unaffordable. A 40-year
mortgage also can help offset the cost of trading an ARM for a fixed
rate, due to the longer term's relatively smaller payments.
"If an in-house lender loosens qualifications, that's a risk and
they have to compensate for that, but at least the person has a
better chance of getting a loan," Queensbury said. Those with the
most options to refinance have
|
|
|
|
|
|
Kelly H. Moran, CCIM, CIPS, REALTOR®
E-mail:
Kelly@hilo-brokers.com
Web:
http://www.hilo-brokers.com
Office: 808-969-9400 x11
Toll Free: 800-769-4456 x11
Mobile: 808-938-5757
Fax: 808-969-7900 |
|
Hilo
Brokers, Ltd.
808-969-9400
400 Hualani St.
Bldg 21
Hilo, Hawaii, 96720
|
Equal Housing Opportunity
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
