Mililani Housing Market Numbers UP!

In 1971 my family moved to Mililani and it was in the beginning stages of a 40 year Master Planned Community development of single family homes, condos and townhouses with the first homes built in 1968.

My children went through their school years in Mililani (they're adults now) and my mom still lives in the same house bought in 1971.

I remember when....

Miililani is centrally located to all military bases on the island and 5-10 minutes from Schofield Barracks and Wheeler Army Airfield, 20-25 minutes to Hickam AFB, Pearl Harbor Navy Base and over the H-3 to Kaneohe Marine Corp Air Station in a matter of 35-40 minutes. We have three shopping centers and seven recreation centers (five have pools) with many community activities for all ages.

Mililani is the ONLY community in Hawaii to receive the distinction of "ALL AMERICAN CITY" in 1986 and you can get more information, association docs, homeowner packets and more from our association site by clicking on the following link: MILILANI TOWN ASSOCIATION INFORMATION

Over the past few months we have had a fluctuation of sales numbers and a small decrease in sales prices but bottom line our sales numbers significantly increased in the past month.

The following market statistics show a clearer picture for the last six months:

Single Family Homes

Mililani Town up to $849k:

35 # Active, 20# In Escrow. 68# Sold, 98DOM, $544k Average Sales Price

Mililani Mauka up to $1.3 Million

2 9#Active, 24# In Escrow, 44 # Sold, 71DOM, $644,976 Average Sales Price


Condos/Townhouses

Mililani Town up to 450k

74# Active, 24 # In Escrow, 62 # Sold, 73 DOM, $279,000 Average Sales Price
Mililani Mauka (up to 451k)

23# Active, 26 # In Escrow, 37# Sold, 63 DOM, $326,202 Average Sales Price

*NOTE: DOM (Days on Market) means how long the property was listed on the MLS until the properties went into escrow with an accepted contract.

More Hawaii Real Estate & Relocation Links:

• Mililani Town, Hawaii: Recreation Centers and Fun for All Ages!
• Launani Valley Mililani Condos Homes-Hawaii Relocation Schofield Barracks, Wheeler AAF
• Mililani, Hawaii: Info and Pictures
• This Realtors® Perspective: Hawaii Military & the VA Loan
• Honolulu County Hawaii Military Bases & Installations- Oahu Neighborhoods
• Across the Ocean to Paradise: Military Relocations Hawaii*
• The Art of Hawaii Relocations
• A Honolulu Hawaii Relocation: Getting Ready With Your "To Do" List
  
  
  For more information on Hawaii Real Estate and Relocations:
  
  

Hawaii VA Home Loan Transaction Specialists....The Scoop

ALOHA!

Back in the day, there were Realtors® and Loan Officers that did not want to deal with VA Loans. Why? Because they're strict with their guidelines and criteria. When overpricing and overbidding were running rampant in all cities, VA remained the ever conservative loan for the Veteran of the Armed Forces.

I say Woohoo! Yeah! Great! It is with this criteria that has kept the VA Guaranteed Loan going and the only 100% financing loan in Hawaii that remains a good loan for the military and vet of the US Armed Forces. Remember, the VA Guaranteed Loan means that VA guarantees the lender a portion of your loan; they do not fund the loan.

Now a days you'll have everyone trying to solicit your business with advertising that they are the "VA Expert" or like me I say, "VA Home Loan Transaction Specialist". There are many pertinent parts to a VA Home Loan and Purchasing a Property in Hawaii so be sure your Realtor® and Loan Officer know their stuff!

• The Realtor® HAS to know the VA Transaction Process. Right now, they are so back logged with appraisal reports and so forth (because it is the one loan that is running rampant here due to our high volume of military presence) so we structure our contracts to accommodate the timeline. This agent keeps on top of all involved in the process.



• The Realtor® HAS to know which lenders and loan officers KNOW their VA Loans. Chances are the incoming member does not know a good loan officer and it is up to us to refer them to one that KNOWS THEIR VA LOAN. Just because someone has signs all over the place displaying their expertise in the field, does not mean it is so. The seasoned Realtor® has worked alongside experts in the field and will refer you to a couple who know their stuff.



• The Loan Officer HAS to be punctual and keep on top of the lender to get all parts of the transaction together. Ordering the appraisal quickly so they can get notice of a VA appraiser being assigned to the case is a start. For incoming personnel there are loads of other documents to retrieve as they are just arriving and their Honolulu County BAH will not automatically be in their LES (pay statement).



• The Escrow Officer has to know the process as well in case other parties need something from the other. We do not communicate with the buyer if representing the seller and do not sign documents all together. It's a conflict of interest and everything should be complete before signing anyway.



• The VA Buyer has to be realistic in their part of the process. If you are serious about buying your Hawaii Home, then keep an open mind. If the sq/ft is smaller than you'd hoped but you are able to buy at that lower price then it may be something to consider. Waiting for a later time and the interest rates may go up, the prices may start going back up or circumstances may not allow purchasing in ‘hopes' something will pop up. We don't have crystal balls but if you are seriously ready then hop off that fence.



• The Seller (or bank) has to be realistic in their part of the process as well. Prices are not going up! Sales numbers are down. Overpricing or being stubborn on the price may just lose a serious buyer. Your home may be the same floor plan as the another but your property is definitely not nicer....what do you do? You aggressively price your property to meet the needs of the market and get that home sold! And remember....VA loans are one of the best 100% financing loans out there!
  

Times have changed in the housing market nationwide. The VA Loan is now the most popular 100% financing loan for incoming military personnel to Hawaii and by far the most secure for lenders. Remember though, you still have to have money for closing costs (escrow & title fees, lender fees, prorated property taxes and so forth) but you may be able to have those covered by a seller credit if they are open to negotiating and getting off the fence too!

Let's all work together as a team to make each VA Loan Transaction go through smoothly for the Military Member and Veteran Relocating to Hawaii!

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More Information for the Armed Forces Member or Veteran:
*Across the Ocean to Paradise: Military Relocations Hawaii* Don't be shocked when you arrive...get the scoop on the environment, jobs, house hunting, BAH current rates and more!
A Honolulu Hawaii Relocation: Getting Ready With Your "To Do" List Be proactive in getting ready for the big move. A great simple list with to do's to get started!
The Art of Hawaii Relocations Expect smaller, different and of course paradise.
VA Loans & Hawaii Military Relocations: This Realtors® Process Know the process for your VA benefits and the VA loan process.
Honolulu-Hawaii Pet Quarantine: Prepare For Your Hawaii Move! Hawaii is Rabies Free so our laws are strict with incoming pets.
Oahu and Surrounding Neighborhood Search: Relocations Hawaii A look into how I set you up to receive automatic listings with your own personal webpage to fine tune your criteria for your home purchase
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© 2007-2009 Celeste "Sally" Cheeseman's Hawaii Real Estate and Relocation Blog. All rights reserved.

Are You IN the Middle of a Rip Current?

After reading the warning sign and taking precautions by standing back a few feet from the warning tape I looked up to see big breaking waves on the shore and the whitewater rushing back out to see. Rip currents are DANGEROUS. The powerful, channeled currents of seawater flowing away from the shoreline, through the surf and past the breaking waves will take you out to sea quicker than you can bat an eyelash.

There is no doubt that conditions change and we need to take heed to the warning signs.
The housing market and real estate industry is constantly changing and has been for some time. Though it is known that the market is LOCAL and every area has different statistics I think I can safely say that there is no housing boom going on.

In October, there was Good News! October Statistics for Oahu's Housing Market! Then, The Ripple Effect From Our Hawaii Tourism Industry took a dive and many restaurants and industries are closing down. For the month of November, our home sales declined but our prices here on Oahu are still stable and hopefully this decline will last just a short while.
Needless to say, the Rip Currents are dragging many out to sea and everyone is out there trying to grasp at every straw to stay afloat:

• Buyers are backing out for no reason ....or maybe they were just too embarrassed to say why. (i.e. family problems, lost jobs or whatever the case may be)


• Loan Officers are promising the world and can't deliver when it comes time for processing. (giving a preapproval without taking everything into consideration ....in hopes it goes through)


• Realtors® are nagging at sellers to list their home. (Who knows how they got the private cell number of the owner....yes this just happened to my seller)


• Realtors® are giving bad advice to the buyer for the sake of a sale. (i.e. bank owned and no warranties, inspections or recourse)


• Sellers are thinking that it's still a great market (and thinking that they can play hardball when there are few and far between buyers)
  

The majority of us have kept afloat with great marketing skills and a niche we have created for ourselves. We listen to our clients and only after listening to their needs first do we give back sound, straighforward information and advice. We follow our Code of Ethics which can be compared to our every day behavior following our personal beliefs, morals and values in this game called life. We hold our heads high and sleep VERY well at night knowing...we lived each day right and didn't step on anothers toes to get there.

The rest will be sucked out to sea by those dangerous rip currents.
And You?
© 2008 Celeste "Sally" Cheeseman, All rights reserved