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Laurelee Blanchard, Realtor |
Real Estate News
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| Volume 5 |
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| In this Issue: Real Estate Market
Report 10 Questions to Ask Your Lender Evaluating a Home’s Technological Features Coldwell
Banker Island Properties 24 Baldwin
Avenue Paia,
Maui, HI 96779 Phone: (808)
298-8544 E-mail: We’re
on the Web!
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Real Estate Market
Report As of September 30, 2007, there were 867 home sales on Maui, compared with 750 a year ago. The average sales price was $944,406, compared with $1,021,325 a year ago – an 8% decrease. The median price was $633,000, compared with $725,000 a year ago, representing a 13% decrease. Total dollar volume decreased 7% during this twelve month period. Click Here to See All MLS Listings 10 Questions to Ask Your Lender 1. What are the most popular mortgage loans you make? Why? 2. Which type of mortgage plan do you think would best for us? Why? 3. Are your rates, terms, fees, and closing costs negotiable? 4. Will I have to buy private mortgage insurance? If so how much will it cost and how long will it be required? NOTE: Private mortgage insurance is usually required if you make less than a 20-percent down-payment, but most lenders will let you discontinue the policy when you’ve acquired a certain amount of equity by paying down the loan. 5. Who will service the loan? 6. What escrow requirements do you have? 7. How long is your loan lock-in period (the time that the quoted interest rate will be honored)? Will I be able to obtain a lower rate if they drop during this period? 8. How long will the loan approval process take? 9. How long will it take to close the loan? 10. Are there any charges or penalties for prepaying the loan? Evaluating a Home’s Technological Features If the latest technology or entertainment options are important to have in your new home, the following is a checklist from realtor.org. Are there enough jacks in every room for cable TV and high-speed Internet hookups? Are there enough telephone extensions or jacks? Is the home pre-wired for home theater or multi-room audio and video? Does the home have a local area network for linking computers? Does the home already have wiring for DSL or other high-speed Internet connection? Does the home have multi-zoning heating and cooling controls with programmable thermostats? Does the home have multi-room lighting controls, window-covering controls, or other home automation features? Is the home wired with multipurpose in-wall wiring that allows for
reconfigurations to update services as technology changes? |
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