So..... you missed out on that $8,000 first time homebuyer tax credit, huh? Think again! Back when everyone was running around trying to buy just anything to get that credit you were sitting on the fence and waiting. Do we wonder why? I THINK NOT!
You, the Hawaii Home Buyer decided that you were going to wait.... but now you are jumping off that fence because:
- INTEREST RATES WENT DOWN FURTHER! Back when everyone was buying ...just for that credit ....you were watching the interest rates intently. You knew the tax credit would only bring those that were thinking about short term goals and knew in the long run you would save more! Now look at the
lower interest rates! Lower interest rates equal lower monthly payments! - THE DIFFERENCE IN PAYMENT WITH A LOWER INTEREST RATE! Back when the interest rates were 6% you knew you would pay $1799.00 per month on a mortgage payment for a $300,000 condo. Then it dwindled down to 4.5% to give you a monthly mortgage of $1520 per month! And NOW? Well, you do the math!
- MOST SELLERS REDUCED PRICES OF THEIR HOMES! From a year ago the prices have steadily gone down and more so in some neighborhoods than others. For instance, Hawaii still has many short sales and foreclosures to go through and we are usually behind the Continental United States 6-12 months.
- HIGHER INVENTORY OF CONDOS, TOWNHOUSES AND HOMES! It may not be for all neighborhoods but there are a few Honolulu County (Oahu) Condos and Homes in neighborhoods with a high inventory. Now that the tax credit is no more there are more homes on the market and therefore lower prices with sellers trying to sell their homes at deals better than their neighbors.
- IF YOU'RE US MILITARY YOU MAY QUALIFY FOR THE EXTENDED CREDIT! If you were on "Official extended duty" (meaning any period of extended duty outside of the United States for at least 90 days during the period beginning after December 31, 2008 and ending before May 1, 2010) then you may still be qualified for the credit! Read more here>>Hawaii Home Buyer | SOME Military Qualify for Extended Tax Credit
Buyer's are JUMPING off that fence now because they realize that there are more benefits NOW than before! You decide if the time is right for you and if it is, then you're jumping off that fence too .... and buyng your your OWN Hawaii home now!
More information:
- Hawaii Home Buyer Advisory
- Hawaii Homes Market Report for Mililani October 2010
- Hawaii Military Relocation Information
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"Sally" Cheeseman is a Realtor-Associate® with Century 21 Liberty Homes in Mililani, Hawaii. With a sharp understanding that a listening ear is the key to a client's needs she serves the island of Oahu (Honolulu County) and all Hawaii Military Relocating to Hawaii, Hawaii Retirees, Hawaii Job Transfers and Hawaii Residents.
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