Laurelee Blanchard, Realtor

Maui Island

Real Estate News

Volume 3

In this Issue:

Real Estate Market Report

Buyer Timeline – First Fourteen Days

Determine Your Credit Status

Coldwell Banker Island Properties

24 Baldwin Avenue

Paia, Maui, HI 96779

Phone:

(808) 298-8544

E-mail:

Laurelee@MauiResidences.com

We’re on the Web!

www.mauiresidences.com

Real Estate Market Report

As of June 31, 2007, there were 622 home sales on Maui, compared with 499 a year ago. The average sales price was $970,349, compared with $996,805 a year ago – a 3% decrease. The median price was $637,837, compared with $710,000 a year ago, representing a 10% decrease. Total dollar volume increased 21% during this twelve month period.

Buyer Timeline – First Fourteen Days

Buyer consultation – During our first meeting, we will review the home-buying process, any questions you may have, my services, and the buyer representation agreement.

Determine source of funds – If financing is involved, we will recommend lenders and encourage you to apply for a loan. If you still need to sell your home, we can help you get your home on the market.

Set search criteria – We will work with you to determine your home needs and then use these requirements as the search criteria in the MLS system.

Home search – We will thoroughly scour the market for any home that fits your criteria and price range. We will look at both listed homes and unlisted homes, including For Sale by Owners.

Show homes- Once we have identified some potential properties that may meet your needs, we will schedule appointments to show you the homes at your convenience.

Daily check-in – Each day we will check in with you to update you on any new homes that have been located and any new updates on your loan progress.

Select a new home – Once you have seen all of the homes that best fit your needs and price range, you will have the opportunity to select a home that meets all of your housing goals.

Property research – Once you have selected a home, we will provide a complete research package on the home, including county records, tax history, utility costs, and recently sold comparable homes.

Present the offer – Working with you, we will set an offer strategy and work to negotiate the best price and terms possible on your new home purchase.

Open escrow – Once we have secured an accepted offer, we will work with the lender and escrow officer to complete the sale as quickly as possible.

Determine Your Credit Status

Because any lender you apply to for a mortgage will verify your credit history, it’s wise to check your own credit rating in the beginning of your home search, and even if you’re sure you have an excellent credit record. There may be blemishes in your credit history that you don’t know about. Identifying and resolving any credit problems to improve your credit rating will provide benefits, such as preferred rates from lenders and home insurers.

Acquiring a copy of your credit report is simple. The Fair Credit Reporting Act allows consumers to obtain one free credit report from each of the three major reporting bureaus every 12 months. To obtain a report visit: www.annualcreditreport.com—the only authorized source for consumers to access their annual credit report online for free. Or, call 877-322-8228.

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