When it comes to making a move in the Puna, Kona, Volcano, Hilo, and Hamakua areas, it just makes sense to turn to a real estate professional who care about your needs and will go the extra mile to meet them.
As a real estate professional, Patti Kam has made it her passion to know everything she can about relocating to, from or within the Puna, Kona, Volcano, Hilo, and Hamakua areas. Those who have worked with Patti appreciate knowing the purchase of their new home is in the hands of such a capable and trustworthy real estate agent.
To order the following complimentary relocation guide, just check the box to the left of the title and click "Send Me" at the bottom. You will then be prompted to enter your mailing information. Patti will send you the guide once she has received your request.
Deciding Where to Live:
Each island has its own character and natural appeal. Hawaii Island, also known as the "Big Island" is the most diverse..Each Hawaiian Island offers a distinct personality, pace of life, cost of living, and predominate job markets. Where you choose to live depends on the lifestyle you're looking for.
HAWAII ISLAND
The "Big Island" of Hawaii is just that - Hawaii's biggest island. Its diverse 4,028 square miles include rainforests, lava fields, world-famous beaches, and one of the planet's most active volcanoes.
Major employment sectors are agriculture, retail, government and the visitor industry. Recently, construction has become a major source of employment.
Jobs are predominantly in the Hilo and Kona areas although the outlying areas are becoming self-sufficient communities with new job opportunities and businesses opening up almost monthly.
At this writing, Hawaii Island is the most affordable island with regard to purchasing land or home and offers the best of all worlds!
For information on the neighboring islands, please e-mail me.
Moving Your Household
Tips for shipping your car and moving your pets, furniture and family safely over land and sea.
Relocating to or from Hawai'i or inter-island means transporting your car, furniture and other large household items, pets and more safely over land and sea.
Companies such as Matson provide full shipping services from most locations on the U.S. West Coast. You should interview these companies for services and prices that fit within your need and budget.
Hawaii SuperFerry will begin service to Hawaii Island in 2009! You may take your car and your family on this SuperFerry inter-island.
Hawaiian Airlines, Aloha Airlines and Go! Airlines have competitive airfares to transport the most important of your cargo, your family.
Sell or ship? Some people decide it's more economical to sell certain items than it is to ship them - such as older cars valued at less than a thousand dollars. That is often a wise choice, but if your household items are in good condition, it makes sense to take them with you. Higher costs in Hawaii (the state of Hawaii) and replacing your "specific" items may be a challenge.
Time frame: Shipping a car or container of household items generally takes three to four weeks. Cars are shipped in individual containers, but many sea carriers will allow partial containers of household goods (a three-bedroom home will likely fill a 24-foot container). Check with your shipping company or an authorized trucking company; they may be able to deliver the container to your house for packing, then retrieve it for delivery to the docks.
BRINGING YOUR PET TO HAWAII
In 2003 the state relaxed its pet quarantine system, making it easier for out-of-state pet owners to bring their pets into Hawaii and for kama'aina pet owners to travel outside the state.
The rule change shortened the quarantine confinement for pets that meet requirements before they get here, reducing the stay to five days or less rather than the present 30- to 120-day quarantine.
State officials have enforced a quarantine since 1912 to ensure that rabies is not introduced into Hawaii, the only state free of the disease. Till now, the confinement period was reduced only once - in 1997, when a 30-day option began.
The main fear has been that a rabid pet could come in contact with a mongoose or other feral animal, spreading the disease in the wild.
Veterinarian Isaac Maeda, program manager at the state's rabies quarantine branch, has said a department analysis last year showed that reducing quarantine to five days 'does not substantially increase the risk of introducing rabies into the state,' as long as the program includes proper rabies vaccination, blood tests and a 120-day waiting period before animals arrive.
The five-day quarantine is a third option for bringing pets to the state. Under the new program, pets that meet state criteria may be released from the airport directly to their owners or stay a maximum of five days at the quarantine station.
To have a pet released at the airport, an owner would also have to provide documentation 10 days before arrival that the other requirements had been met.
Pet owners hoping for shorter confinement of their animals upon arrival must present proof that their animal has had two rabies vaccinations, microchip implantation for identification and clean results of blood serum tests. Quarantine costs for the reduced confinement program will be $165 if the pet qualifies for direct release from the airport and $224 if the pet must be held for up to five days.
NEW RULES SUMMARY: To qualify for a five-day pet quarantine, owners must prepare at least four months in advance:
Pets will need a microchip implanted for identification. The pet will need a rabies shot and a booster, which can be no less than three months apart and not more than one year apart. Animals should have passed a blood serum test, with results e-mailed to Hawaii officials by the testing lab. Pets cannot enter the state till 120 days after the blood sample is received by the state. . Hawaii officials must receive a health certificate from the pet's veterinarian at least 10 days before the animal's arrival, with all test results and health certificates sent by e-mail to prevent fraud. At the airport, animal quarantine officials will inspect every incoming pet, check its chip to confirm its identity and release the animal to its owner if everything is in order. Contact info:
Hawaii Department of Agriculture
Animal Quarantine Station
99-951 Halawa Valley Street
Aiea, Hawaii 96701-5602
Phone: (808) 483-7151
Web site: www.hawaiiag.org/hdoa/ai_aqs_info.htm
Find a Realtor and Shop for a Home
Moving to Hawaii or just back from vacation with the dream of relocating to the Islands? Check out Hawaii's market by contacting a realtor and locating a mortgage banker.
A realtor in particular is a valuable asset when you're unfamiliar with the market, and can help you navigate the fast and furious process of buying an Island home. Though condominiums, town homes and single-family dwellings are continuously available, Hawaii's tight real estate market requires buyers and sellers to move quickly and be decisive.
SCHOOLS
Please click this link to visit the websites for each public school on Hawaii Island:
School Information
We have charter schools in Volcano, Pahoa and Hilo and more popping up every day!
The charter schools on Hawaii Island are noted by "Hawaii" in the left hand column. Some grades may have been added since this writing.
- Innovations PCS #548
Director: Barbara Woerner
75-5815 Queen Ka'ahuanu Hwy.; Kailua-Kona, HI 96740
Tel: 808.327.6205; Fax: 808.327.6209
DATE ESTABLISHED: January 11, 2000
DATE ESTABLISHED: May 5, 2000
- Hawai'i Academy of Arts & Science PCS (HAAS) #561
Director: Steve Hirakami
15-1397 Homestead Rd.; Pahoa, HI 96778
Tel: 808.965.3730; Fax: 808.965.3733
DATE ESTABLISHED: June 21, 2001
DATE ESTABLISHED: January 11, 2001
- Waters of Life NCPCS #398
Director: Katheryn Crayton-Shay
16-643 Kipimana St., Ste. 11; Kea'au, HI 96749
Tel: 808.966.6175; Fax: 808.982.7863
DATE ESTABLISHED: July 20, 2000
DATE ESTABLISHED: May 5, 2000 |
Tips to Better Property Searches
Keep your searches small. Narrow your search by requesting a specific asking price range, number of bedrooms, number of bathrooms, land size. Asking the system to find properties under $300,000.00 island wide would produce a huge list and would take hours to load and print.
Get pre-qualified. Looking for property without being pre-qualified is like writing checks without knowing your balance.The process is simple, painless, free, and can be done over the phone with any bank or mortgage lender nation wide. It's simply a matter of adding up your income, subtracting your monthly expenses, using the balance to determine what you can afford and adding your cash down payment to that amount to determine what you can spend.
Know what you want. If you are not familiar with the Big Island of Hawaii you can find a great deal of information on this site. The best thing to do however is to contact me or fill out the buyer's questionnaire. If you discuss your needs with me, I will be better able to offer recommendations and advice.
Plan a trip. There is no substitute for actually seeing the area and the properties for sale.
10 Important Tips to Successful Real Estate Investing
by Unknown Author
When it comes to investing, everybody has certain goals and aspirations. However, we have found that there are certain guidelines every aspiring real estate investor needs to know:
1. Compare Property Values and Rents
Financial statistics only go so far; the best measure of a property's market value is often the sale prices of nearby properties. The same holds true for area rents. A low price can often be justified by a reasonable rent; renters who can afford a high rent can afford to buy instead, so reasonably priced rent is a need.
2. Be careful - Tax laws may change
Don't base your tax investment on current tax laws. The tax code is constantly changing, and a good investment is a good investment regardless of the tax code. The right property with the right financing is what you should look for as an investor.
3. Specialize in something you Know
Start in a market segment you know. Whether you focus on fixer-uppers, foreclosures, starter homes, low-down payment properties, condominiums, or small apartment buildings, you'll benefit from experience by specializing in one aspect of investment real estate properties.
4. Know the Costs going in!
Know the financial statements inside out. What are operating expenses? What are loan payments? Vacancy costs? Taxes? What does the cash flow statement look like? These are key issues that must be addressed before making a solid investment.
5. Know where your tenants are coming from
If the last rent increase was recent, your tenants may be considering a move. If tenants have a short-term lease, they may be living there simply to attract unsuspecting buyers. It is also important to collect the tenants' security deposits at closing.
6. Assess the tax situation
Taxes are an integral part of successful real estate investing, and they often make the difference between a positive cash flow and a negative one. Know the tax situation, and see how it can be manipulated to your advantage. It may be a good idea to consult a tax advisor.
7. Investigate insurance coverage
If seller's coverage is based on lower-than-current replacement value, your insurance cost may increase when you pay a higher purchase price.
8. Confirm Utility Costs
Ask the local utilities to verify recent utility expenses, especially
if any of these costs are included in your tenant's rent.
9. Consult Your Accountant
Taxation is a key element of successful real estate investing, so be sure to find an accountant who is well-versed with the constantly evolving tax code.
10. Inspect!
Make sure that you always perform a thorough inspection of the property before buying it. Never, ever buy any property without at least examining the site. In some cases, hiring professional inspectors to examine the structural mechanical system may be a sound investment.
Reprinted courtesy of Total Real Estate Solutions
A Few POINTS About Interest Rates
by Author Unknown
Less is more!
If you're new to investing or real estate and don't know the first thing about interest rates, here's a good tip: the higher the interest rate, the more expensive it's going to be. High interest rates mean you will have to pay back more on the money you borrow. Another good rule of thumb is that affordability increases if you use an adjustable rate mortgage (it's easier to qualify this way). Of course, there will be a wide range of prices that you can choose from, depending on what kind of financing you choose..
Not even the Fed knows for sure
The Fed holds a considerable amount of power, but they can't control everything. Mortgage interest rates are affected by many unpredictable political, economic and social events. So there is no guarantee what direction interest rates will go, despite the forecasts of the experts. Therefore, make your financial decision based on where things are today including your budget, your needs and your future plans.
Locking in rates assures your lowest interest
If you do decide you want to lock in at a certain interest rate, you will need to complete a loan application and send it to your lender as soon as possible. This must be done so that your commitment doesn't run out before your loan is approved. Follow up and be se sure that the lender is receiving all of the necessary documentation. Get a property appraisal, which usually costs about $300, through your loan agent as soon as possible.
Don't obsess and miss a good real estate deal
Although rising interest rates can create more problems for home buyers, waiting and hoping for low rates is not necessarily a smart move. You may end up paying a higher price. Also, refinancing is always an option in the event that interest rates come down.
How Much Home Do I Qualify For?
Income. Debt. Down Payment. Closing Costs. Two Years Income Tax Returns. Assets. Liabilities. IRAs. You want WHAT? Just what can I afford?
Buying a home in today's marketplace is a bit intimidating. And your new home purchase is likely to be one of the most important decisions you've ever had to make. Usually it's one of the single most valuable assets you'll own.
Before you invest hundreds of hours searching-and to avoid any heartbreak if you find yourself unable to qualify for your dream home-sit down with a lender. Your lender can perform a simple verbal pre-qualification in about twenty minutes and a full-fledged pre-qualification in about 5 days.
Pre-qualification not only allows you to focus your search in the correct price range, saving a lot of wasted time and frustration, but it can also give you an edge when competing with other offers on a home that you find. If a seller is deciding between two offersâ€"-yours who has been qualified and another unqualified offer, they are much more likely to pick yours. Pre-qualification will also give you leverage when negotiating with a seller in a non-competitive atmosphere; it essentially makes you a cash buyer.
The amount of home that you qualify for will be determined by three key factors: your down payment, your ability to qualify for a mortgage and closing costs.
The Down Payment
Whereas a current homeowner can rely on equity from their home sale, a first time home buyer is limited to the money they can save. The days of having to put 20 percent down on a home are in the past, although putting a large amount of money down definitely makes it easier to qualify for a mortgage and to get the lowest interest rates available. With the various programs that are available today, you can put as little as 3 percent down on a home.
Qualifying for the Mortgage
There are two basic guidelines that lenders use to determine what size mortgage you are eligible for:
Your monthly mortgage payment of principal, interest, taxes and insurance (PITI) should not exceed 25 to 28% of your monthly gross income.
Your monthly housing cost (PITI) plus other long-term debt should not exceed 33 to 38% of your monthly gross income.
Specifically, most lenders will consider 4 key factors to determine your ability to qualify for a home loan:
Income -This first element can include not only your gross monthly income and secondary income (commissions, bonuses) but also your history of employment, stability of income, education, even potential for future earnings.
Credit History - This encompasses your history of debt repayment, total outstanding debt, highest balance, and your highest monthly debt balance.
Assets -Your assets consist of cash on hand, savings and checking accounts, CDs, stocks, bonds or any other type of liquid asset.
Property -The home you are planning to purchase will be appraised to determine the market value. The estimated value must be sufficient to secure the loan. Lenders will loan you no more than a certain percentage (usually 95%) of this value.
Closing Costs
Keep in mind that in addition to your down payment, you will also be responsible for paying fees for the loan and closing costs. These will be required at the time of closing unless you qualify and choose to have these included in your financing.
Closing Costs generally will range between 2 percent and 6 percent of the mortgage loan, depending on the loan and lender. You will be provided with a "Good Faith Estimate" of closing costs so you can know what to expect.
"Points", which are one-time charges equal to one percent of your loan amount, may be required by your lender at closing.
5 Secrets to Buying the Best House for Your Money
by Unknown Author
1. Get "Pre-Approved-Not "Pre-Qualified!"
Do you want to get the best property you can for the least amount of money? Then make sure you are in the strongest negotiating position possible. Price is only one element in the negotiations, and not necessarily the most important one. Often other terms, such as the strength of the buyer or the length of escrow, are critical to a seller.
In years past, I always recommended that buyers get "pre-qualified" by a lender. This means that you spend a few minutes on the phone with a lender who asks you a few questions. Based on the answers, the lender pronounces you "pre-qualified" and issues a certificate that you can show to a seller. Sellers are aware that such certificates are WORTHLESS, and here's why! None of the information has been verified!
Many times unknown problems can come to the surface! Some of the problems I've seen include recorded judgments, alimony payments due, glitches on the credit report due to any number of reasons both accurately and inaccurately, down payments that have not been in the clients' bank account long enough, etc.
So the way to make the strongest offer today is to get "pre-approved". This happens AFTER all information has been checked and verified. You are actually APPROVED for the loan and the only loose end is the appraisal on the property. This process takes anywhere from a few days to a few weeks depending on your situation. It's VERY POWERFUL and a weapon I recommend all my clients have in their negotiating arsenal.
2. Sell Your Property First, Then Buy the House
If you have a house to sell, sell it before selecting a house to buy! Contingency sales aren't nearly as strong as one that comes in with a ready, willing and able buyer. Consider this scenario: You've found the perfect house -now you have to go make an offer to the seller. You want the seller to reduce the price and wait until you sell your house.
The seller figures that this is a risky deal, since he might pass up a buyer who does not have to sell a house while he's waiting for you. If he says he'll do the contingency but it has to be a full price offer! You have now paid more for the house than you could have because of the contingency, and you have to sell your existing house in a hurry! Otherwise you lose the house! So to sell quickly you might take an offer that's lower than if you had more time. The bottom line is that buying before selling might cost you thousands of dollars.
If you're concerned that there is not a house on the market for you, then go on a window-shopping trip. You can identify possible houses and locations without falling in love with a specific house. If you feel confident after that then put your house on the market.
Another tactic is to make the sale ''subject to seller finding suitable housing''. Adding this phrase to the listing means that WHEN YOU DO FIND A BUYER, you will have some time to find the new place. If you don't find anything to your liking, you don't have to sell your present home.
3. Play the Game of Nines
Before house hunting, make a list of things you want in the new place. Then make a list of the things you don't want. You can use this list as a guide to rate each property that you see. The one with the biggest score wins! This helps avoid confusion and keeps things in perspective when you're comparing dozens of homes.
When house hunting, keep in mind the difference between style and substance. The substance are things that cannot be changed such as the location, view, size of lot, noise in the area, school district, and floor plan. The style represents easily changed surface finishes like carpet, wallpaper, color, and window coverings. Buy the house with good substance, because the style can always be changed to match your tastes. I always recommend that you imagine each house as if it were vacant.
Consider each house on its underlying merits, not the seller's decorating skills.
4. Don't Be Pushed Into Any House
Your agent should show you everything available that meets your requirements. Don't make a decision on a house until you feel that you've seen enough to pick the best one.
Not too long ago, homes were selling quickly, usually a few days after listing. In that kind of market, agents advised their clients to make an offer on the spot if they liked the house. That was good advice at the time. Today there isn't always this urgency, unless a home is drastically under priced, and you'll know if it is.
Don't forget to check into the school districts of the area you're considering. Information is available on every school; such as class sizes, % of students that go on to college, SAT scores, etc. You can get this information from this web site.
5. Stop Calling Those Phone Numbers on Those Ads!
Ads are sometimes created to make the phone ring! Many of the homes have some drawback that's not mentioned in the ad, such as traffic noise, power lines, or litigation in the community. What's not mentioned in the ad is usually more important than what is.
Remember that the person writing the ad is representing the seller and not you! The most important thing you can do is have someone on your side looking out for your best interests.
Your own agent will critique the property with an eye towards how well it meets your needs and will point out any drawbacks you should know about. So whether you decide to work with me or not, pick an agent you feel comfortable with and enlist the services of that agent as a buyer's broker. Then you become a client with all the rights, benefits, and privileges created by this agency relationship, and you're no longer just a shopper.
Did you know that many homes are sold without a sign ever going up or an ad ever being put in the paper? These "great deals" go to those people who are committed to working with one agent.
When an agent hears of a great buy, who do you think he's going to call? YOU! ? His client, who he has a promise and an obligation to work hard for, or someone who just called on the phone and said "keep your eyes open"? So to get the best buy on a property, I always recommend that you hire your own agent and stick with him or her. There is no cost .. just your promise of loyalty to that one agent.
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Patti Kam | Prudential Orchid Isle Properties