The Buyers AgentI was talking (on Facebook) with a friend this morning and he was mentioning that someday he would want to own a home of his own in Mililani.  I took a quick look at what was available in Mililani and saw that there were many properties in the low $400,000s.  A little quick math and I saw that his monthly payment on one of these homes would be around $2,100 INCLUDING taxes, principle and interest.  When I first looked at the mortgage calculator, it said the payment would be much higher and then I saw that it had automatically set the interest rate at 6.5%.

 

The moral of my story is that home prices are low and interest rates are even lower.  When you use a Mortgage Calculator to figure out what your payment would be, be sure all of the numbers are correct.  In Hawaii, property taxes are among the lowest in the nation.  They are about $3.42 per $1,000 of value, so a home that costs $400,000 would be about $1,400 per year.  Interest rates are a bit below 5% so make sure you put that percentage into the mortgage calculator.  On the mainland, property tax is much higher so the number in that block is probably much higher, CHANGE IT!  Don’t scare yourself away from buying a home because you have bad information!

 

If you would like to see the homes that are available in Mililani, click here.

 

Warm Regards-

Mike

 

Mike Ramsey Fujita (S) RA SFR

(808) 630-1828

Mike@GreatHawaiianHomes.com

 

Gayle Fujita Ramsey (S) RA SFR

(808) 388-1485

gfujita@hawaii.rr.com

 Gordon Au Realty

http://GreatHawaiianHomes.com

2011 Aloha Aina Award Nominee

 
This post has been included in Hawaii Real Estate News Honolulu County, HI Real Estate News
Post is included in group: Honolulu Real Estate Association
Post is included in group: Oahu Real Estate Association

4 Comments on The Buyers Agent

AUG
25
2011
431,004 Points 10 Featured Posts Outside Blog

You are right Mike - The numbers must be set right. I lived in Kaneohe for 12 years and miss the Islands. Thanks for posting!
10:03pm • #1
134,645 Points Outside Blog

great post!!!! Good point!

 
10:05pm • #2
958,422 Points 24 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

WOW. You really do have it all. I could sell many more homes if we had the same tax rate.
10:07pm • #3
AUG
26
2011
Outside Blog

Hi All- Thank you for your feed back.  When you see a Mortgage Calculator that is clearly set up for mainland buyers, you realize how inexpensive our tax rates are.  Have a great week end!

Cheers-

Mike

 
2:35am • #4


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Michael Ramsey Fujita (S) RA SFR & Gayle Fujita Ramsey (S) RA SFR

Honolulu, HI

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Green Realty Group (808) 630-1828

Address: Kahala, The Honolulu Ridge from Manoa to Hawaii Kai,, Kailua, Keolu Hills, Enchanted Lakes, Kaneohe, Kapolei, Waimanalo

Office Phone: (808) 630-1828

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Oahu Real Estate, Oahu Homes For Sale and Oahu Condos For Sale may all be seen here as well as Oahu Real Estate Consultation. Oahu Realtors Mike Ramsey Fujita & Gayle Fujita Ramsey RA's share insights to Oahu's Real Estate Market. http://www.GreatHawaiianHomes.com Search Oahu Real Estate at http://www.buyorsellinhawaii.com/


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