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Million Dollar, reo, Foreclosures, Short Sales and Real Estate

This week's newsletter

Howard Dinits RS
RE/MAX Resort Realty
808-874-0600 Toll Free 877-434-6487
fax 877-334-6487
http://www.EasyMauiRealEstate.com
http://www.BigIslandRealEstate.com
what, will, one, million, dollars, buy, maui, hawaii, real, estate, home, house
Each of us has a personal calling that's as unique as a fingerprint-
and that the best way to succeed is to discover what you Love and then offer it in the form of service.
I Love what I do. Please let me know if you hear of someone Buying or Selling Real Estate in Hawaii.

Contact:Howard Dinits RS
RE/MAX Resort Realty
808-874-0600
Howard@HowardDinits.com
http://www.easymauirealestate.com

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Buyers and Sellers Benefit from REALTOR^® Expertise in Distressed Sales

Maui, Hawaii, November 22 2010 — Howard Dinits with RE/MAX Resort Realty has earned the nationally recognized Short Sales and foreclosure Resource certification. The National Association of REALTORS^® offers the SFR certification to REALTORS^® who want to help both buyers and sellers navigate these complicated transactions, as demand for professional expertise with distressed sales grows.

According to a recent NAR survey, nearly one-third of all existing homes sold recently were either short sales or foreclosures.  For many real estate professionals, short sales and foreclosures are the new “traditional” transaction.  REALTORS^® who have earned the SFR certification know how to help sellers maneuver the complexities of short sales as well as help buyers pursue short sale and foreclosure opportunities.

“As leading advocates for homeownership, REALTORS^® believe that any family that loses its home to foreclosure is one family too many, but unfortunately, there are situations in which people just cannot afford to keep their homes, and a foreclosure or a short sale results,” said 2009 NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth. “Foreclosures and short sales can offer opportunities for home buyers and benefit the larger community, as well, but it’s extremely important to have the help of a real estate professional like a REALTOR^® who has earned the SFR certification for these kinds of purchases.”

The certification program includes training on how to qualify sellers for short sales, negotiate with lenders, protect buyers, and limit risk, and provides resources to help REALTORS^® stay current on national and state-specific information as the market for these distressed properties evolves. To earn the SFR certification, REALTORS^Ò are required to take one core course and three Webinars.

Contact:Howard Dinits RS
RE/MAX Resort Realty
808-874-0600
Howard@HowardDinits.com
http://www.easymauirealestate.com

It is Time For Real Estate Investors and Home Buyers To Buy

Foreclosures, bank owned and Short Sales in Maui Hawaii

 By Howard Dinits RS CRS, CIPS, RSPS, SFR, ABR, GRI, e-PRO

If you're waiting for signs of a housing bottom, join the club. Nobody blows a whistle and says, "It's time to buy!" and if they do, they are 90 days too late.

That's why timing is an art, not a science, but you can improve your odds of buying wisely here on the Island of Maui In Hawaii.

First, stop paying attention to the national media. Fear has sidelined buyers even in good markets, and that's exactly when you need to take advantage . . . before other buyers wise up and the deals are gone.

Second, be ready to pounce when you see the home you want.

The time is right to buy when you see these signs in Hawaii’s marketplace:

• · Inventories start to decline.  That means that the best buys are leaving the market, and best doesn't necessarily mean cheap. It means the homes with the highest likelihood of profitable resale. Desirable homes will leave the market first.

• · The Number of Days on market reducing.  The Days on market refers to the period when a Realtor enters a home in the MLS for marketing to other brokers, until the home sells.   When DOM are shorter, that signals a coming seller's market. A seller's market has more buyers than homes, so prices go up and selection goes down.

• ·  Mortgage applications increase.  Interest rates are still at a historical low causing many homeowners to jump in and refinance.  Purchase applications were also up. Either way, that means homes are about to leave the market, so a lessoning of inventory means firmer prices.   Sellers will stop dropping their prices.

• · Sold homes go for closer to listing price. In 2009, home prices sold within 97 percent of listing price. When they get to 98 percent, you'd better be ready.
  

• · Prices remain firm or rise. Prices are a product of demand. To attract buyers, sellers reduce their prices and offer more incentives. If homes are selling reasonably well, prices won't move downward . . . they'll go up.
  

• · Incentives disappear. When a market begins to favor sellers, they don't have to do as much to sell homes. Watch new homes and see if builders are still giving away appliances and granite kitchens. If they aren't, times have changed.

Any change in condition will change others, so again be ready. Now is the time to buy a better house while prices are low in Hawaii, interest rates are low and inventory is still high.

When you are thinking of Buying or Selling in Hawaii be certain to get help from a professional. Make sure your Realtor has an up to date website with listings from the Multiple listing service and has the proper designations and training to help you in today’s market that is not like any previous market, There are new ways of doing Real Estate and types of transactions that many Realtors have not seen before, like reo's bank owned, and short sale properties.

Please use an agent that has the short sale and foreclosure Resource (SFR).

Contact Howard Dinits RS, Certified Residential Specialist at 877-434-6487
or email Howard@HowardDinits.com
For Listings and Hawaii Relocation Information Go To http://www.EasyMauiRealEstate.com.

It's Time For Investors and Home Buyers To Buy Foreclosures, bank owned and Short Sales in Maui Hawaii

By Howard Dinits RS CRS, CIPS, RSPS, SFR, ABR, GRI, e-PRO

808-874-0600

Maui Subdivisions - Maui Subdivision List by Tax Map Key TMK Hawaii

This information is provided by your Maui Real Estate Agent Howard Dinits RS   RE/MAX Resort Realty 808-874-0600

If you would like to know more about moving to Maui or one of these subdivisions Please call Howard Dinits 808-874-0600

Zone 1 - Hana
2-1-1 Hana
2-1-2 IBBETSON
2-1-3 Kawela Subdivision, Perman Subdivision

2-2-1 Kaimanu Estates, Kula, Makena, Maui Meadows, Wailea, Wailea Fairways, Wailea Golf Estates,
Wailea Golf Vistas, Wailea Highlands, Wailea Kai, Wailea Kialoa, Wailea Pualani

2-2-2 Anawio Subdivison, Heleakala Greens Subdivision, Kula, Kula Highlands, Kula Nani, Makai Hts.,
Maui Research & Technology Park Ph I/Incr I, Piilani North II (Road C) Large Lot Subd, Piilani
Village, Piilani Village Shopping Center, South Kihei, Waiohuli Hikina Subdivision

2-2-3 Fleming House Lots, Good Earth Farms Subdivision III, Isobe Subdivision, James De Rego
Subdivision, Kealahou Subdivision, Kua'aina Ridge, Kula, Kula 200 I, Kula 200 II, Kula Glen, Kula
Kai, Kula Mala, Kula Manu, Kula Meadows Subdivision, Kula Sunset, Kulamalu Mauka Subdivison,
Kulamalu Residential Subdivison, Kulamalu Commercial Subdivison, Kulamalu Hilltop Subdivision,
Kulamalu Subdivision, Lani'iki Ridge Phase A, Malukaohu Farms Subdivision, Mountain Breeze
Heights, Pukalani, Pulehuiki Kamehameiki Homesteads, Pulehunui Subdivision, Puu Koa
Subdivision, R Von Tempskey-T Buchanan-Lomongo Subdiv, Yokouchi Subdivision

2-2-4 Haliimaile, Makawao, Olinda, Piiholo North Subdivision, Piiholo South Subdivision

2-2-5 Haliimaile, Makawao, Maunaolu Plantation Subdiv, Paia, Pukalani, Upper Paia

2-2-6 Kuau, North Shore Village S/D, Paia

2-2-7 Haiku, John & Mary Phillips Subdivision, West Kuiaha Meadows S/d

2-2-8 Peahi

2-2-9 Hoolawa Point S/D, Huelo, Huelo Hui Subdivision

This information is provided by your Maui Real Estate Agent
Howard Dinits RS   RE/MAX Resort Realty 808-874-0600

If you would like to know more about moving to Maui or one of these subdivisions Please call Howard Dinits 808-874-0600
Zone 3 - Wailuku & Kahului
2-3-1 Kahakuloa
2-3-2 Malaihi Ag Subdivision, Waihee
2-3-3 Waiehu, Wailuku Country Estates
2-3-4 Fleming Tract, Hale Koa, Happy Valley, Home Hoike Hana Tract, Paukukalo, Puuone, The
Millyard, Wailuku, Wailuku Industrial Park, Wailuku Parkside S/D
2-3-5 Akolea at Kehalani, Cottages at Kehalani, Koa at Kehalani, Maunaleo at Kehalani, Nanea at
Kehalani, Ohia at Kehalani Ph II, Ohia at Kehalani Subdivision, Olena at Kehalani, Olena Ph II at
Kehalani, Waikapu, Waikapu Gardens S/D, Waikapu Ranch Inc Subdivision, Waiko Baseyard
Subdivision, Wailuku, Wailuku Hts., Waiolani Mauka Subdivision, Waiolani Pikake Subdivision

2-3-6 Maalaea, Waikapu

2-3-7 Kahului

2-3-8 Consolidated Baseyards LLC Subdivision, E Paepae Ka Pukoa Subdivision, Hale Piilani, Harbor
View, Kahului, Kahului Industrial Park Ph I-A, Kanaloa, Legends at Maui Lani, Luana Gardens,
Maalaea, Maui Island & Bluff S/D, Maui Lani, Maui Lani Island & Bluff S/D, Na Hoku at Maui Lani,North Kihei, Sandhills Estates, Spreckelsville, Wailuku

2-3-9 Alii Village Subdivision, Central Kihei, Hale Kilohana Sub., Hale Lakau, Haleakala Village Sub.,
Honu Alahele Subdivision I, Honu Alahele Subdivision II, Kamalii Alayna Subdivision, KamaliiAlayna Subdivision Ph II, Kamaole Heights, Kaonoulu Estates, Kaonoulu Ranch (Large-Lot)Subdivision No. 2, Kauhale Kai Sub., Ke Alii Kai S/D, Keawakapu Views, Kenolio Makai
Subdivision, Kenolio Mauka Subdivision, Keonekai Estates II, Keonekai Hts., Keonekai Hts. II,
Keonekai Hts. III, Keonekai Hts. IV, Kihei Hts., Kihei Kauhele Subdivision, Kihei Village Sub.,

Zone 4 - Lahaina

Kilohana Hema Subdivision, Kilohana Mauka Subdivision, Kilohana Ridge Subdivision, Kilohana
Waena Subdivision, Leialoha Subdivison, Makai Hts, Meadowlands, Moana Estates Subdivision,
North Kihei, Pacific Terrace, South Kihei, Wai Wai Paa Subdivision, Waiakoa House Lots, Waiakoa
Kai Estates, Waimahaihai, Waiohuli Estates

2-4-1 Honokohau

2-4-2 Honolua Ridge, Kapalua Central Resort, Pineapple Hill, Pineapple Hill at Kapalua PH 2, Pineapple
Hill Estates, Plantation Estates

2-4-3 Honokeana, Kahana Ridge, Kahana-Honokowai, Kahananui, Kapalani Estates, Kapua Village S/D,
Kauhale Mahinahina Subdiv, Kili Nahe Subdivision, Mahinahina, Napili, Napilihau

2-4-4 Kaanapali, Kaanapali Golf Estates, Kaanapali Hillside, Kaanapali Vista, Kahana-Honokowai, Ke Alii
S/D I, Ke Alii Subdivision, LANIKEHA PH I, LANIKEHA PH II, Pinnacle at Kaanapali Subdivision,
Pioneer Farms Subdivision Ph I, Royal Kaanapali Estates, Views at Kaanapali

2-4-5 Kelawea, Kelawea Mauka, Kuhua Tract, Lahaina, Lahaina Business Park, Lokahi Kuhua

Subdivision, Upper Kapunakea, Wahikuli Houselots, Wahikuli Terrace
2-4-6 Aholo, Kauaula, Komohana Hale, Lahaina, Paunau, PUAMANA, Puamana Nui

2-4-7 Mahanalua Nui S/D Ph I, Mahanalua Nui S/D Ph II, Mahanalua Nui S/D Ph IV, Mahanalua Nui S/D
Ph V, Makila Plantation, Makila Plantation Ph II, MAKILA PLANTATION PH III, Puunoa Subdivision

2-4-8 Olowalu Makai Komohana S/D, OLOWALU MAUKA SUBDIVISION, Ukumehame Agricultural
Subdivision Ph II, Ukumehame Subdivision

This information is provided by your Maui Real Estate Agent
Howard Dinits RS   RE/MAX Resort Realty 808-874-0600

If you would like to know more about moving to Maui or one of these subdivisions Please call Howard Dinits 808-874-0600
2-4-9 Lanai

Zone 5 - Molokai

2-5-1 Maunaloa Village, Molokai, Papohaku Ranchlands
2-5-2 Kalae Executive Estates
2-5-3 Kaunakakai
2-5-4 Kawela Plantations

Zone 6 - Kalawao

This information is provided by your Maui Real Estate Agent Howard Dinits RS   RE/MAX Resort Realty 808-874-0600

If you would like to know more about moving to Maui or one of these subdivisions Please call Howard Dinits 808-874-0600

Hawaii is one of the States with the Lowest Taxes in the United States.

Now is a good time to call Maui Real Estate Agent Howard Dinits your Buyer's Agent and reo Specialist. Howad Can help you with foreclosures and short sales.

808-874-0600

States With Highest, Lowest Property Taxes
Using U.S. Census data, the nonprofit Tax Foundation has uncovered where the highest property taxes in the country are paid relative to the median value of the homes. Some of the locales may surprise you.

New Jersey came in first — no surprise there — but New Hampshire, which has no state income tax and prides itself on that, had the next-highest real estate taxes as a percentage of home values.

Louisiana had the lowest median taxes compared to property values, another ho-hum finding. But the second-lowest taxes compared to values are in pricey Hawaii.

The national median for real estate taxes is 1.04 percent of a property’s value. Here’s the list of the top 10 states with the highest median real estate taxes as a percentage of median home value as well as the ranking of states with the lowest:

States with the highest taxes:

1. New Jersey (1.89 percent of property value)
2. New Hampshire (1.86 percent)
3. Texas (1.81 percent)
4. (tie) Wisconsin (1.76 percent)
4. (tie) Nebraska (1.76 percent)
6. Illinois (1.73 percent)
7. Connecticut (1.63 percent)
8. Michigan (1.62 percent)
9. Vermont (1.59 percent)
10. North Dakota (1.42 percent)

States with the lowest taxes:

1. Louisiana (0.18 percent)
2. Hawaii (0.26 percent)
3. Alabama (0.33 percent)
4. Delaware (0.43 percent)
5. West Virginia (0.49 percent)
6. South Carolina (0.50 percent)
7. (tie) Arkansas (0.52 percent)
7. (tie) Mississippi (0.52 percent)
9. New Mexico (0.55 percent)
10. Wyoming (0.58 percent)

Source: 2009 U.S. Census Data and Tax Foundation calculations

Version:1.0 StartHTML:0000000149 EndHTML:0000001080 StartFragment:0000000199 EndFragment:0000001046 StartSelection:0000000199 EndSelection:0000001046 Howard Dinits RS
RE/MAX Resort Realty
808-874-0600 Toll Free 877-434-6487
fax 877-334-6487
http://www.EasyMauiRealEstate.com
http://www.BigIslandRealEstate.com

Each of us has a personal calling that's as unique as a fingerprint-
and that the best way to succeed is to discover what you Love and then offer it in the form of service.
I Love what I do. Please let me know if you hear of someone Buying or Selling Real Estate in Hawaii.

What is an reo?

Want to find foreclosure, Foreclosed, Real Estate Owned, bank owned, Property in Maui, Hawaii? You will find a forclosed homes and condos in Kihei, Kahului, Wailea, Wailuku,

Some reo properties have dead lawns and are poorly maintained. This is not the case with Howard Dinits' REO Listings which is why REO Asset managers love listing agents like Howard Dinits. Howard has pride in what he sells so his listings are maintained and sell quickly, often with multiple offers.

Real estate owned or reo is a class of property owned by a lender, typically a bank after an unsuccessful sale at a foreclosure auction. What goes on at the auction you ask? A bank will typically set the opening bid at a foreclosure auction for at least the outstanding loan amount. If there are no bidders that are interested, then the bank will legally repossess the property. This is usually the case as the amount owed on the home is probably higher than the value of this foreclosure property. As soon as the bank repossess the property, it is listed on their books as REO – Real Estate Owned – and is categorized as an asset.

As soon as a property goes into a default or distressed status (the borrower/home owner misses mortgage payments) the bank will want to determine the amount of equity that the property has. A popular method to determine the equity is to obtain a Broker Price Opinion (BPO) , CMA or order an appraisal. Top selling reo agent in Hawaii servicing the Big Island, Oahu, Kauai, and Maui offers Free BPO's to all asset managers willing to list their property with RE/MAX Resort Realty and Howard Dinits the top selling agent in their office. Based on the amount of equity that is determined from the BPO, the bank will decide to try for a short sale or to allow it to go through the foreclosure process. If the bank is able to sell the property through a short sale or at a foreclosure auction, then the property will not become a reo property.

After a repossession and the property becomes classified as reo, the bank will go through the process of trying to sell the property on its own or obtain the service of an REO Asset Manager. The bank will remove some of the liens and other expenses on the home and try to resell it to the public, either through future auctions or direct marketing through a real estate broker. Asset Managers looking to contact REO realtors that specialize in zip codes in Hawaii to help sell thei bank owned properties often turn to Howard Dinits because of his 99% BPO to Sales Price ratio. Howard knows how to play the price is right. Generally speaking, bank REO properties are in poor shape in terms of repairs and maintenance; however, real estate investors will often go after these properties as banks are not in the business of owning homes and so, in some cases, the low price can more than compensate for the condition of the property. Investors looking to find fixer uppers often contact Howard Dinits as he is a fantastic buyer's agent. Howard has helped more than 200 families invest in Hawaii, on all islands Oahu, Big Island, Maui and Kauai.

Once a property is reo, the bank or lender will try to dispose of the property by either selling it directly themselves or through an established business relationship that they have with asset managers and REO agents like Howard Dinits RS. Many larger banks such as GMAC, Litton, Greentree, Capitol One, Bank of America and Wells Fargo have REO/asset management departments that will often hire Howard Dinits because of his outstanding attention to detaill and 99% BPO to sale price ratio. All REO properties that Howard Dinits lists are on the open market will be listed in at minimum 2 MLS systems by Howard Dinits the REO Real Estate agent who performed the BPO.

As a listing agent Howard Dinits may be asked to rekey the home, provide Free BPO's, weekly property inspections, pay any outstanding HOA fees, pay the uility bills, maintain the property, evict the occupant, rekey the property, and most of all sell it in 16 days or less and get multiple offers.

Howard Dinits is committed to being the best there is, so if you are an Asset manager loking for an agent that gets it done and knows how to communicate, please call me at 808-874-0600

If you area  buyer and made it to the end of this post, I want to be your agent. Please call or write, so we can get started.

Below is a list of zip codes Howard services for reo Asset Managers.

(includes Maui, Lanai, and Molokai)

Kauai County Zip Codes

Oahu Zip Codes

What is the zip code for places in Hawaii ?

MARKET Update: 09/14/2010

Maui Real Estate MARKET UPDATE SEPTEMBER 2010 HAWAII

The most recent available economic indicators for the island of Maui demonstrate the island's robust recovery and consistent positive trends propelling broad based growth and market expansion.  These trends continue to validate the tremendous opportunity the development of Nu'u Aina presents.

 

Some of the significant highlights for the island of Maui are:

• Single family home sales volume increased 37% for the year over the same period in 2009. For the Wailea-Makena market area, sales increased 100%, while the Kihei market had a 53% increase during the same period.
• Condominium sales volume increased 52% over 2009, that included a 84% increase in Wailea-Makena and a 86% increase in the Kihei markets.
• Single family home prices island wide rose 5% over 2009 prices. In this same period, the Wailea-Makena markets prices rose 20% while Kihei grew by 12%.  The Wailea-Makena markets showed exceptional resilience with a 10% price increase while the Kihei condominium market softened even with the uptick in sales with a 12% price decrease.
  
  
• Through July of 2010, total visitors to the island of Maui rose 7.8% to 1,222,703 with visitor expenditures up an impressive 16.4% representing $1.74 billion in consideration. Visitor growth has come from the top four markets the State draws from, a demonstration a broader global economic recovery.
  
• Through June, Maui's hotel occupancy increased 12% over the same period in 2009 with a RevPar that mirrors the visitor expenditure growth.
  
• Interisland freight shipping is trending upward towards its peak volume experienced in 2007
  
  Maui Real Estate MARKET UPDATE SEPTEMBER 2010 HAWAII

For any real estate buyer who’s monitoring the market for good value, it’s a good idea to develop a relationship with the Best Hawaii reo agent Howard Dinits RS of RE/MAX Resort Realty 808-874-0600.

Howard Dinits RS of RE/MAX Resort Realty has perfected his statewide reo Department, to handle securing, maintaining, marketing, and selling bank-owned real estate assets. Howard Dinits has handled REO transactions and asset management for a number of private investors, local and national banks. The islands that Howard's team services are Maui, Big Island Oahu and Kauai.

Howard's many internet websites that drive buyer's to the foreclosure listings. Buyer's love reo's as they are often good values and sometimes under market value.  Buyers and real estate investors who are interested in keeping tabs on current and upcoming REO inventory would be smart to create an agency relationship with Howard Dinits and his statewide team. REO listings move quickly, and often generate multiple offers. We provide advance notice of upcoming and new listings via email to our clients.

Hawaii reo agents are special kind of real estate practitioner. Securing, managing, and constantly monitoring bank-owned assets requires a level of preparation and coordination that can only be accomplished with a team of Top Producing REO agents and property managers. As a result, REO agents are often given advance notice of bank-owned assets that will soon become listings. In general, banks are realistic when it comes to pricing their REOs, so these listings are usually priced aggressively and sell quickly. Howard's listings often go into escrow in less than 15 days and close in 20 to 45 days.

For any real estate buyer who’s monitoring the market for good value, it’s a good idea to develop a relationship with the Best Hawaii reo agent Howard Dinits RS of RE/MAX Resort Realty 808-874-0600.