Archive for March, 2009

Hawaii VA Home Loan Transaction Specialists….The Scoop

Wednesday, March 25th, 2009

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.

Online Hawaii Relocation Package

Saturday, March 21st, 2009

So….you are Relocating to Hawaii with the Military, a Job Transfer or just want to Retire here in our islands …… well, you came to the right place for information galore to help you adjust in your move….across the ocean to Paradise.

Your Relocation to Hawaii and Purchasing Your New Home. The following information is basic but pertinent information to go over before you even pack for your transfer and before considering purchasing your Honolulu County (Oahu) home. Moving across the Pacific Ocean to a totally different and diverse culture may be of a shock and you may want to brush up on a few tips to make your transition a smooth one.

Land Use and other Zoning Laws It is without a doubt that our Hawaiian Islands have little buildable land so it is detrimental to keep all of our zoning and land use laws intact. The majority of our land is Preservation and Conservation land and the following will give you insight

Neighborhoods in Honolulu County and Market Report too! An insight into the different neighborhoods and what they have to offer. You will also get current market statistics in each community for which I wrote for that period.

Honolulu County (Oahu) Weather and Traffic - It is a given that with an island so small and a population of almost one million that we do have peak traffic hours as in any other part of the country. For a look at Oahu’s traffic click on the following TRAFFIC CAM to view during peak hours.

Things to Do, History & Places to See - A three part series for a brief, condensed Points of Interest series to learn a little about our island and our so diverse and full of different cultures and ways of life.

Condo or Townhouse Living: Rules to Follow and Steps to Protect: If you are contemplating downsizing then condo / townhouse living may be an option. With maintenance fees for most associations taking care of the bulk of your homeowner’s insurance (common elements), and repairs to the outside, roof, grounds and water/trash and sewere this may just be an option.

History of schools and links to Hawaii’s Education System A brief look at the history of Hawaii and its school system as well as researching schools and neighborhoods suitable for your family and their Relocation to Hawaii.

Myths, Legends and Superstitions: Every place has it’s history as well as their “stories”….come join me in revisiting some old tales of Hawaii. It is a given that there are certain things to respect on the islands. Not only do we have Ancient Burial Site laws that protect our land…we also have certain sites that still have remnants of ancient temples that are not to be disturbed.

And a special Hawaii Military Relocation Story:

LIVE on VIDEO: A Hawaii Military Relocation Story Comes to Life

Bottom line is this.

It’s not easy moving across the Pacific Ocean let alone to a totally different “world” of people,

but you can do it with a little effort, motivation and a great Realtor®!

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If you’re Relocating to Hawaii (regardless if it’s near future or just wanting to be proactive for the future) contact me to get started with your search for Hawaii Homes for Sale.

 

Celeste “Sally” Cheeseman, RA, e-PRO / Century 21 Liberty Homes, Mililani, Hawaii

Hawaii Relocations – Choosing the RIGHT Realtor® & Loan Officer

Thursday, March 19th, 2009

First of all there are plenty of Realtors® in Honolulu County to choose from. Hmm, last I looked there were about 6,000 on this island alone. So how do you choose a Realtor® who is knowledgeable in Military Relocations & Real Estate and VA Loan/Transaction process?

There are plenty of Loan Officers in Honolulu County as well. Hmm, not sure about the numbers there but I can bet you half are gone since the closing of many loan companies. So, how do you choose a loan officer who is knowledgeable in Military Relocations & experienced in Hawaii Real Estate Contracts, the VA loan process and knows Hawaii Real Estate laws too?
Trick questions? I think not.
Just know that everyone is claiming to be a “VA expert”, “Military Relocation Specialist”, “Multi Million Dollar Producer” and claims to be an expert in just about anything when it comes to Hawaii Real Estate. Just know one thing -experience in Real Estate first. The caring and understanding and knowing what it’s like to Relocate is another. Personality plays a big part in your connection with both Realtor® and Loan Officer.
Just because they advertise so doesn’t make it so. Remember that.
I have written many articles on the VA Transaction Process “through THIS Realtor Associate’s® eyes”and I yes I do claim to be an expert as well. What I’m trying to get across here are there are certain criteria to look for when looking for that special Realtor® or Local Lender that you will choose to purchase that special home for you and your family once you Relocate to Hawaii.
To start with:
  • If the Realtor® or Loan Officer is promising the world and it sounds too good to be true…it probably is. Question it and get a second opinion.
  • If that Realtor® is not showing you property that is in your criteria then you know something is wrong. You usually can pick up on that sort of stuff while looking online and inquiring with different Realtors® (i.e you are qualified for 350k and they’re showing you up to 600k)
  • If that Realtor® or Loan Officer is playing any other role besides their title (i.e. Loan Officer telling the client what to put in the purchase contract and a Realtor® promising an interest rate that is absurd) then you know it’s time to get a second opinion.
  • If that Realtor® or Loan Officer continuously brags about ’self’ and doesn’t bother to listen to your needs, then it’s time to move on and interview someone else. You need someone who will listen and give you sound advice. Not someone who keeps talking about themselves.
  • If that Realtor® or Loan Officer is not thinking in your best interests and is continuously pushy even though you’ve told them you’re working with someone else; then you know this person is only thinking of one thing. That paycheck.
  • If that Realtor® or Loan Officer is trying to sway you to a different loan program besides the VA Guaranteed Loan program question why and get a second opinion. For the military vet there is no question that a VA loan is literally the best 100% financing program there is for the Military Relocating to Hawaii who are serious about Hawaii Home Buying.
  • If a Realtor® or Loan Officer is bad mouthing another peer for no reason…just know that there is most likely an ulterior motive to that scenario and you’re not looking to judge their peer but buy a home!

Okay, so we all are out to work and make a living, but there is certainly a difference between making a living and walking all over someone just to make that living. If it’s one thing most people have is common sense and they can ‘feel’ when someone is just talking a good game or being real and genuine in their quest to help you acquire that American Dream of home ownership.

If you’re not sure, then keep asking and inquiring until you feel comfortable with your choice for a Realtor® and your loan officer. Remember, this is most likely the most important decision you’re making in your lifetime (besides asking her to marry you :) so be sure you’re in the right hands.

For more information on the VA Loan Transaction Process, being proactive for your relocation and the Hawaii Housing Market: