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Aloha!
Welcome to Springtime everyone! Goodbye mean old Mr.
Kauai Winter. It wasn't really that bad but I'm glad to
see it gone all the same. The gusty winds and blowing
rains were downright nasty over the last several weeks.
I know what you're probably saying..."Oh for Pete's
sake, AnnMarie, you get to LIVE on Kauai. It's paradise
no matter what the weather is doing so will you please
shut up and quit complaining." Ouch! Okay you're right.
It's pretty gorgeous here even when it's windy and
rainy so I'll shut up and quit talking about the "nasty"
winter weather here in paradise. It was just a little
windy this year. That's all I was trying to say. Geez.
I have a secret to tell you. As I've shared with you
before, I unplugged my television last fall during the
presidential race because it was making me crazy. All
that political mumbo jumbo was starting to effect my
sleep so I took my satellite box, stuck it back in the
box and with a morally superior flourish of my pen, paid
the $15.95 postage and sent it back to the devil company
it spawned from. Things were truly blissful until about
3 weeks ago. We were eating bean burritos, drinking
rootbeers at a friend's house and someone turned on the
TV. American Idol was on. They had just finished
"Hollywood Week" and were starting the real serious
"Final 12" competition. When the pink-haired 16 year
old sang Janis Joplin's "Piece of My Heart" I knew I was
hooked. There was no looking back. So now on Tuesday
evenings instead of curling up with a good Einstein
biography and studying the scientific beginnings of the
universe, I put on my camo gear, greasepaint my
face..wait for darkness to fall, and creep over to my
friend's house where we watch American Idol on her 46"
flat screen for 60 blissful minutes. It's true.. I've
become an American Idol refugee. A trash-TV queen. To
make matters even worse, I'm becoming like one of the
judges now. Last night after the eyesight-challenged
guy sang that Barry Manilo song I turned to my friend
and said .. "Yes, overall nice, but very poor song
choice, and it was a bit pitchy in places."
Oh, the shame of it all.
Real Estate is picking up here on the Island! If you've
been waiting to pounce.. you better start pouncing
soon...
Median Sales Price increased heartily in March from a
bottom low of $400K, to $501K. I still see prices
falling on things but with the increased activity it
appears that some of the higher priced homes are
starting to move. Median Prices increased everywhere on
the island last month except for sleepy little Lihue
$459K vs $470 last month. Northshore median was
$1,550,000, up from $755K. Kawaihau was up $360K from
$310K, Koloa/Poipu was up $515K from $400K and even
Waimea was up from $279K to $425K. Condo median prices
were down across the board. Vacant land was up just
slightly but still really, really slow. But everything
else was UP, UP, UP! Whoopee!
Sales Volume was up considerably across the board.
House volume was up 4 Times from $4.4M in Feb to $16M
in March. Vacant land volume was up across the island
from $806K to $1.5M, condo volume was fairly steady from
$4M to $4.2M. Residential home Volume was up on the
North Shore from $1.5M to $9.6M. North Shore condo
volume was fairly steady at about $2M. One little
vacant lot sold on the North Shore for $510K, one lot
sold in Lihue for $399K, and one in Koloa for $475K. No
vacant land sold in Kawaihau. Kauai vacant land is a
killer deal right now.
Number of Sales of Residential homes increased over the
entire island 2 fold from 10 in February to 22 in March.
Vacant Land increased only slightly from 4 to 5, and
condo only slightly from 10 to 11. The largest increase
in residential homes occurred on the Northshore and
Kawaihau, two of the hottest markets on the island.
Northshore homes units went from only 2 sold in
February to 7 in March. Kawaihau from 3 to 8, Lihue
from 1 to 2, Koloa from 3 to 2, and Waimea from 1 to 3.
Condo unit sales increased in Koloa and Lihue, declined
or steady everywhere else.
Well, gotta go.. American Idol elimination round tonight
at 8:00 pm. It's only 3:30 pm here now and I'm a wreck
already.
Until next month.. Your Island Realtor.. AnnMarie
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We
received an important indicator of where
housing is headed last month, when new
mortgage applications for home purchases
and refinances suddenly surged as they
hadn't in months.
Applications for FHA loans to buy
houses were up by 10.4 percent. And
overall home purchase applications
jumped by 7.1 percent.
Meanwhile mortgage interest rates
dropped to their second lowest level in
nearly two decades, according to the
Mortgage Bankers Association. Thirty
year fixed rates averaged 4.96 percent
and fifteen year rated dropped to just
4.5 percent.
Why's this important? New financing
applications to buy homes obviously
point to rising purchase contracts and
closed sales in the months ahead. They
also suggest that prices have hit a
level in many markets that is attracting
once-hesitant buyers off the sidelines.
There's still another factor that's
likely at work here as well: Congress's
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Don't
let a sluggish economy get you down.
There are reasons to shop for personal
items�including a new home. I recently
saw an advertisement for a new car that
said you could return the car in the
first year if you lose your job. While
there may not be that incentive for
homes yet, some other perks might give
you reason to start your housing search.
If you can afford to buy, consider
making homeownership a goal this year,
especially if you haven't owned a
principal residence in three years prior
to buying. The new stimulus package
sweetens the deal for homebuyers who
purchase a residence on or after January
1, 2009, and before December 1, 2009.
The incentive is for first-time
homebuyers who remain in their home for
at least three years. It provides a
credit for 10 percent of the home
purchase price, up to an $8,000 limit.
The credit can be taken on your 2008 or
2009 tax return.
If you close on a home after the
April 15 tax deadline, you can apply for
an extension provided that you close on
your home before the extension deadline
of October 15. If you're extra speedy
and have already filed your 2008 return,
don't worry � you can file an amendment
to claim the credit. You have three
years to
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Red
flags that signal it's time to replace your roof
may be over your head.
Sunlight permitting holes and bucket
brigade-sized leaks are obvious signs it's time
for a new topper for your home.
There are however, additional indicators
that may not be so obvious.
"Certainly if your roof is approaching the
end of its life cycle -- usually 20 � 25 years
for asphalt shingles -- it's time to think about
a new roof," says Ray Rosewall, president and
CEO of DaVinci Roofscapes in Kansas City, KS.
The National Association of Homebuilders
says decorative slate, metal, masonry and newer
synthetic roofs can have a life expectancy of 50
years or more.
"However, a calendar shouldn't be the
Daily News and Advice
Read about the events shaping the Real
Estate market today, find current
interest rates, or browse the extensive
library of advice and how-to articles
written by some of the top experts in
Real Estate. Updated each weekday.
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More Articles
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These
days, tax credits and high
housing inventory make it a
buyers' market. If you're a
seller, don't despair. There are
a variety of renovations that
can help make your home stand
out. Many buyers look at
numerous homes when shopping for
a house; so enhancing your home
to make it more memorable is
vital and increases the chances
of a successful sale. 
