More Good News for Buyers!

Prudential Locations recently announced plans to provide eligible first-time home buyers an $8,000 cash advance — interest free — to encourage them to buy now. Prudential's offer is only for a limited time and is available to first timers who purchase a home during the month of April. The program is not a discount on a service or fee, it is an interest-free cash advance that will need to be paid back in April 2010 when they receive their tax credit.

THE NEW $8,000 TAX CREDIT BASICS

• The tax credit is for first-timehome buyers only.

• The tax credit does not have to be repaid to the government.

• The tax credit is equal to 10 percent of the home's purchase price up to a maximum of $8,000.

• The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009.

• Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.

CALL 808-224-7274 TO SIGN IN FOR FREE PRUDENTIAL LOCATIONS' FIRST-TIME HOME BUYER SEMINAR

There are a lot of renters out there who would absolutely must to take advantage of this buyer's market to finally purchase their first property.

The stars are aligned for first time buyers right now with historically low interest rates, a down market, motivated sellers and now a federal tax credit.

We don't think all of these conditions have ever occurred at the same time ever before.

Reasons to buy - or become an investor in Hawaii

Should You Buy a Home Right Now?

Easy credit was a driving factor in the real estate boom of 2001-2005 and many people who should never have received loans in the first place were able to not only get loans, but to get them at more than 100 percent of the purchase price. Loans were given to people with no down-payment, insufficient income, and in some cases — with no job. However, we are back to how it was in the 'old days.' You have to have a job, pay your bills on time and have some money for a down-payment. However, there are also loan programs that make all of this much easier — FHA, VA and USDA Rural Development loans. A complete loan discussion should be part of any thorough Buyer's Consultation with your realtor.

We have the ability to finance up to 90% for owner occupied residence, and 80% for investment. In order to get the best interest rates, 25% down will be required and Buyers have to be more selective about the owner-occupancy. In order to do an FHA loan, even if the project is FHA approved, the occupancy MUST be OVER 51%. Great programs with 100% financing USDA, AmeriDream available .

Interest rates are now at historically low levels and here's what that means for buyers:

-Get the home you want for less: for example, if you have been looking at a $500,000 home, it will now cost what a $400,000 home did before the rate reduction.

-Lower monthly payments: the homes you have been looking at will now require a lower monthly payment that is 20 percent less than before. A typical savings can range between $300 to $400 a month.

-Get 'more' house: if the buyer is willing to pay the same monthly payment as before, they can now get a lot 'more' house for that same payment. Depending on the price range a buyer is considering, adding 20 percent to what you can afford can make a big difference.

The low interest rates also means that buyers who couldn't qualify for a home prior to the rate decrease may now be able to get in the game. Worthy dispels as myth that it's impossible to get a loan in today's economy.

“Agency” relationships – what that means - When real estate professionals work with buyers and sellers, “agency” relationships are established. There are three kinds of agency relationships:

• Buyer’s Agent

• Seller’s Agent

• Dual agent (Always disclosed)

• When you agree to hire me to help you find and purchase a property, I become your “buyer’s agent,” which means I will work for your best interests throughout the entire purchase process. And you don’t have to pay me a dime – the seller pays me!

• When an offer is presented, the seller will have a separate agency relationship with their agent.

A Buyer’s Agent owes the highest duties to the Buyer, including

confidentiality, loyalty, & utmost care; including:

• Select and preview properties for your consideration

• Provide market valuations for a property-pricing and negotiation strategy

• Prepare the offer

• Negotiate and obtain the best possible price & terms for you

• Assist in obtaining financing

• Monitor the escrow process - track all activities and deadlines

• Coordinate inspections: property inspection, termite, etc.

• See that you get the required reports - title, termite, survey, condo docs, etc.

• Accompany you to closing of escrow