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John Riggins's Blog

John Riggins

Blog

Displaying blog entries 211-220 of 256

The Investment Alternative

by John Riggins

To say the investment market is unsettling is an obvious understatement. The market is down 8% in the last ten days and the news doesn't give much hope that things are going to get better in the near term.

Preservation of capital is probably today's most important investment consideration and making a profit would be a bonus. Of all the conventional investment alternatives like stocks, bonds, mutual funds, gold, commodities, CDs and annuities, housing is the best asset class in America.

Homes have had a 30% to 40% price correction in the past four years. Mortgage rates are at near all-time low rates with 30 year terms available for investors. Rents have increased significantly over the past two years while vacancy rates have decreased. People will always need a place to live.

Five year certificates of deposits earn a little over 2% but rental properties are yielding eight to ten times more than that. Income properties are tangible assets that have benefitted dramatically in inflationary times. Cash assets can be devastated by inflation and diversifying into income properties can provide real protection.

Single family homes offer investors the opportunity to borrow large loan-to-value mortgages at fixed rates for long terms on appreciating assets with tax advantages and reasonable control. Investing in rentals can provide stability, safety and a higher rate of return.

Woulda-Coulda-Shoulda

by John Riggins

It is the mantra of people who missed a great deal. It's the theme song of the procrastinator. It's the refrain that reminds us of the one that got away.

Some people are still beating themselves up because they didn't recognize the housing bubble was really going to burst. It is impossible to change the past but will they see the signs of the next housing trend?

In the past four years, prices have adjusted with 30% corrections nationally and much more in areas with high percentages of foreclosures. New homes are almost non-existent. Interest rates are slightly above record lows. Consumer goods are skyrocketing; our budget deficit and national debt are staggering and escalating inflation appears certain.

"Forget stocks. Don't bet on gold. After four years of plunging home prices, the most attractive asset class in America is housing." states Shawn Tully, Senior Editor at-Large for Fortune magazine in a March 28, 2011 article.

"If I would have known that this was the best buyer's market ever, I could have taken advantage of the prices and interest rates; I should have fixed my cost of housing for years to come." Don't catch yourself saying this. You owe it to yourself and your family to get firsthand information to see what your options really are.

I Want a Bigger/Nicer Home but...

by John Riggins

 

I Want a Bigger/Nicer Home but...

There are homeowners that would like to have a larger/nicer home but are patiently waiting for the market to improve. A frequently heard objection is that they can't sell their home for what it is currently worth.

Buying up in a down market is actually advantageous because while you might get less for the home you're selling, you're also getting the larger home for less. For instance, if you had to sell a $200,000 home for a 10% discount, you might feel that you left $20,000 on the table. However, buying a $300,000 for the same 10% discount would put you $10,000 ahead on the sale and purchase.

The other obvious matter is that when the mortgage rates increase while you're waiting for the market to improve, it dramatically increases your cost of housing with higher payments. The cost of housing is affected by price and mortgage rates.

To accurately evaluate your current options, you need facts and assessment tools that will provide you the information to make an informed decision.

Targeting the Mortgage Interest Deduction

by John Riggins

Targeting the Mortgage Interest Deduction

 

"I Do" Want a Home: Gift Registry

by John Riggins

"I Do" Want a Home

Forget Macy's and Crate & Barrel. Set up your bridal registry at the bank and use the funds for the FHA down payment on a home. This could be perfect for people getting married who already have their household items and really need help getting into a home.

FHA has had this little known program that allows cash gifts since 1996. Sellers, builders, real estate agents or anyone with a financial interest are restricted from making a gift contribution. It's not difficult to set up and it's available with any FHA lender.

  1. Inform your mortgage professional early of your intention to obtain all or part of your down payment from gifts to the FHA homeowner bridal registry.
  2. Open a savings account at your bank named "bridal registry account"
  3. Friends and family are given account deposit information

Gift registries are commonplace and really benefit both the giver and recipient. Etiquette websites like Emily Post state that alternative registries are acceptable. Couples are now suggesting to friends and family that they want help with their honeymoon, education or furnishing a home.

Interestingly, this program is not limited to people intending to be married. It is available for other situations where gifts are typically received by individuals. Other occasions could include graduation from college or graduate school.

 

Who Represents You?

by John Riggins

In almost every state in the U.S., buyers have the option of being represented by their real estate agent. This relationship creates responsibilities that require the agent put their client's interests above their own.

The duties a buyer or seller can expect to receive among others are honesty, accountability, full disclosure, representation and reasonable skill and care. In a nutshell, the agent who represents you is working in your best interest.

It's a special relationship that doesn't exist with most of the other professionals involved in a real estate transaction. Mortgage and title officers are limited to their duties of honesty, accountability and specific requirements under the Real Estate Settlement and Procedures Act.

This special relationship with your real estate agent makes it advantageous to have them coordinate your efforts with the other professionals in the home buying process. Since most buyers' and sellers' transactions are infrequent, the agent can bring valuable experiences to the transaction.

A Residential Finance Consultant is trained and has special tools to help you make better decisions when you buy or sell and in between. Our goal is to help you improve and maintain the investment in your home so we can earn the right to be your lifelong real estate professional.

 

Recycle Christmas Trees on Oahu

by John Riggins

Recycle Christmas Trees on Oahu

Anyone on Oahu who took part in having a Christmas tree adorn their home has an opportunity to reduce the load at the landfill and take part in recycling his Christmas tree.  Christmas has come and gone and while some people have already taken the decorations off of their trees and removed them from their homes, others will do so after the New Year.

Regardless of when you take your tree out of yourOahu home making the effort to recycle it will not only lessen the impact on Oahu’s landfills but will also enrich the environment across the Hawaiian island.  The trees will be ground into chips and mulch to be in landscaping all over Oahu.

Curbside recycling of your tree, as well as recycling of other yard wast, takes place all year round on Oahu.  In addition there are seven convenient drop-off locations where trees can be dropped off for free, seven days a week from 7 a.m. until 6 p.m.

Drop-off locations are:

  • Ewa, Geiger Road, near gate to Barbers Point NAS, (808) 226-2996
  • Laie, behind the City’s Laie Corporation Yard, (808) 293-8714
  • Wahiawa, intersection of Kamananui Road and Wilikina Drive, (808) 621-3648
  • Waianae, off Plantation Road, next to the Waianae Landfill, (808) 696-4203
  • Waimanalo, Hihimanu Street near the sewage treatment plant, (808) 259-7182
  • Waipahu, Waiphau Depot Road, near the Police Academy, (808) 676-8878
  • Kawailoa, Kawailoa Road, (808) 637-5511

Two additional drop-off locations are:

  • Hawaiian Earth Products Leeward (Campbell Industrial Park), M – F, 7:00am to 3:30pm, Sat, 7:30am to 3:00pm, (808) 682-5895
  • Hawaiian Earth Products Windward (Kailua), 7 days a week, 7:00am to 4:30pm, (808) 261-5877

Start the New Year off on a green foot and recycle your tree!

For more information about Kapolei Real Estate please contact John Riggins, Certified Distressed Property Expert. Click here for access to the Oahu MLS and all available listings in the Kapolei area.

Oahu Foreclosures Decrease, More to Come

by John Riggins

Oahu Foreclosures Decrease, More to Come

Oahu foreclosures decreased in November but more are expected to come.  The dip seen in foreclosures in November is attributed to the closer scrutinizing that has been demanded of the banks, but as closer examination failed to halt the foreclosure process many were released and hit the market earlier this month.

The number of Kapolei foreclosures stem from the origins of purchase, when many people purchased homes that were on the edge of their budgets.  A decline in tourism that has been felt from a national economic crisis has affected nearly everyone’s budget and Kapolei is no exception.

Foreclosures on Oahu are expected to continue to come in part because lending practices have become stricter and people are having a much harder time refinancing.  As employment figures improve and the economy picks up, real estate will continue on its shaky road to recovery.

Please contact me today to learn more about Oahu foreclosures.  I can help you avoid foreclosure.  As a Certified Distressed Property Expert (CDPE) I have the knowledge and experience you need to help face these tough times.

For more information about Kapolei Real Estate please contact John Riggins, Certified Distressed Property Expert. Click here for access to the Oahu MLS and all available listings in the Kapolei area.

Is It Time to Invest in Kapolei Real Estate?

by John Riggins

Is It Time to Invest in Kapolei Real Estate?

Is it time to invest in Kapolei real estate?  It is always hard to perfect timing, after all, when it comes to examining when to invest money in anything, whether it be real estate or the stock market, hindsight is always 20/20.  The fact is buying low and selling high is the key to maximizing profits and there are many great opportunities in the Kapolei real estate market today.

If you know what you are doing buying aKapolei foreclosure property or short sale property can present a fantastic real estate investment.  The process of buying a short sale or foreclosure can be lengthy and complicated but in the long run it could be worth the headache.  Whether you want to invest in Kapolei real estate by buying a home, living in it, and selling it one day, or buying a property to rent out, over time real estate has typically proven to be a prudent investment for many people.

Contact me today to learn more about investing in Kapolei real estate.  As an experienced Kapolei Realtor I make it my mission to know what is going on with our real estate market and am familiar with what properties provide the best investment opportunities.

For more information about Kapolei Real Estate please contact John Riggins, Certified Distressed Property Expert. Click here for access to the Oahu MLS and all available listings in the Kapolei area.

Kapolei Short Sale Experience Involves Patience

by John Riggins

Kapolei Short Sale Experience Involves Patience

The Kapolei short sale experience involves patience as the process can be a lengthy one.  In a foreclosure the bank is the owner of the property, in a short sale the homeowner is still in the process but the sales price is subject to the bank’s approval. The bank takes its time to analyze each short sale, to make sure that the Kapolei property is not subject of fraud and to make sure that it is better off selling short than foreclosing.  In essence both the buyer and the seller in a Kapolei short sale situation are at the lender’s mercy.

The bank has up until the day of closing to change their mind, a frustrating element of a short sale.  It is very helpful for offers to be as close to the fair market value of the Kapolei real estate in question as possible.  The entire short sale process can run much more smoothly when using a Kapolei Realtor that has experience with short sales.

Contact me today to learn more about the short sale process.  Whether you are a buyer or seller, being armed with knowledge is your best tactic when involved in the process of a Kapolei short sale.

For more information about Kapolei Real Estate please contact John Riggins, Certified Distressed Property Expert. Click here for access to the Oahu MLS and all available listings in the Kapolei area.

Displaying blog entries 211-220 of 256

Contact Information

Photo of John Riggins REALTOR RB11175 Real Estate
John Riggins REALTOR RB11175
John Riggins Real Estate
1003 Bishop Street, suite 2700
Honolulu HI 96813
808.523.7653
808.341.0737
Fax: 888.369.3210