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Company to Test Solar Tech on Hawaii

by Tanya Power

From Pacific Business News

A California company is bringing its new solar technology to the Big Island.  SolFocus will test its Concentrator Photovoltaics in Hawaii at the Natural Energy Laboratory of Hawaii.  The company said it will test future generations of CPV to see if it is suitable for Hawaii.  It is the first time CPV technology will be commercially available in the state.  The company said its technology uses a system of nonimaging optics that magnify sunlight 500 times onto small solar cells.  The solar panels are made of aluminum and glass.  SolFocus is based in Mountain View, California.  More information coming soon.

Windermere Island Properties Merges with C&H Properties

by Tanya Power

    KAILUA-KONA, Hawaii  Windermere Island Properties LLC, a Big Island real estate company based in Kailua-Kona, announced today a merger with C and H Properties, Inc. of Waimea.

  

    The merger took place earlier this month, with the firms consolidating their operations over the next several months.  The new company will be called Windermere/C and H Properties, Inc. and will have nearly double the number of agents, with 15 agents from C and H Properties, and 18 from Windermere Island Properties.

 

Windermere Island Properties opened for business in Kona in the spring of 2006 and is an affiliate office of Windermere Real Estate, the largest regional real estate brand in the Western United States.  The Kona Windermere office primarily sells residential condos and single-family homes in the Kailua-Kona area on the west side of the Big Island.  A second Windermere affiliate office was opened on Maui at the Shops at Wailea in January of 2007.  Both the Kona and Maui Windermere offices are owned by the Knowles family, who are now the co-owners of Windermere/C and H Properties, Inc.

C and H Properties specializes in the sales of resort and oceanfront properties on the Kohala Coast, as well as the sales of land and residential real estate, including single-family homes, condominiums and ranches in the Waimea and northwest part of the Big Island.

 

    The principals of the company are also handling project sales for two high-end resort developments, Ke Kailani at the Mauna Lani Resort and Kaunaoa at the Mauna Kea Resort.  C and H Properties was founded in 1981 by principals Bob Chancer and Steve Hurwitz.  Hurwitz will assume the position of president of Windermere/C and H Properties, Inc.  Beth Richardson will remain as principal broker of the new entity.

 

    C and H Properties has consistently been the top real estate firm on the Big Island in terms of annual gross sales and among state-wide leaders almost since its inception.  For the past four years, C and H Properties’ annual gross sales have averaged over $200 million, with sales just shy of $250 million in 2007, despite a slowing market.  The company has sold almost $1.4 billion in real estate since 2000, more than any other individual real estate office on the island.

 

    No changes will be made to the buildings or business operating environments for either company.  C and H Properties has operated out of its main office at the Opelo Plaza in Waimea for 20 years and the principals of the company will continue to operate their two project sales offices at the Mauna Lani and Mauna Kea resorts on the Kohala Coast.  Windermere Island Properties opened a new custom-built office building on Walua Road in Kailua-Kona in July 2007.

 

    “This merger will deliver a much larger geographic reach than either company had previously,” said Brad Knowles of the new Windermere/C and H Properties, Inc. “For Windermere, this will amount to a huge leap in market share as well as a high-profile presence in the Kohala Coast resorts.”

   

  Steve Hurwitz said the merger would improve upon C and H Properties by giving it a presence in the fast-growing Kailua-Kona metro area as well as an off-island affiliation with the Windermere Wailea, Maui branch and the Windermere regional brand in the western United States. 

 

    “The synergy created as a result of our affiliation with Windermere will be especially productive because many of our clients come from states where Windermere is already operating,” said Hurwitz.  “Many of them already know or have experienced Windermere as a quality brand company.”

 

New Legislation supports housing

by Tanya Power

The following is from the National Assoc. of Realtors.  Would you consider purchasing a new home if you could have a $7,500 credit on your taxes.  Wow - This is great!

National Association of REALTORS®
Summary of Key Provisions of H.R. 3221 - The Housing Stimulus Bill (as of 7/30/08)


H.R. 3221, the “Housing and Economic Recovery Act of 2008,” passed the House on July 23, 2008, by a vote of 272-152. On Saturday, July 26, 2008, the Senate passed the bill by a vote of 72-13. The President signed the bill on July 30, 2008. The bill includes the following provisions:


 

  • GSE Reform – including a strong independent regulator, and permanent conforming loan limits up to the greater of $417,000 or 115% local area median home price, capped at $625,500. The effective date for reforms is immediate upon enactment, but the loan limits will not go into effect until the expiration of the Economic Stimulus limits (December 31, 2008).
  • FHA Reform – including permanent FHA loan limits at the greater of $271,050 or 115% of local area median home price, capped at $625,500; streamlined processing for FHA condos; reforms to the HECM program, and reforms to the FHA manufactured housing program. The downpayment requirement on FHA loans will go up to 3.5% (from 3%). The effective date for reforms is immediate upon enactment, but the loan limits will not go into effect until the expiration of the Economic Stimulus limits (December 31, 2008).
  • Homebuyer Tax Credit - a $7500 tax credit that would be would be available for any qualified purchase between April 8, 2008 and June 30, 2009. The credit is repayable over 15 years (making it, in effect, an interest free loan).
  • FHA foreclosure rescue – development of a refinance program for homebuyers with problematic subprime loans. Lenders would write down qualified mortgages to 85% of the current appraised value and qualified borrowers would get a new FHA 30-year fixed mortgage at 90% of appraised value. Borrowers would have to share 50% of all future appreciation with FHA. The loan limit for this program is $550,440 nationwide. Program is effective on October 1, 2008.
  • Seller-funded downpayment assistance programs – codifies existing FHA proposal to prohibit the use of downpayment assistance programs funded by those who have a financial interest in the sale; does not prohibit other assistance programs provided by nonprofits funded by other sources, churches, employers, or family members. This prohibition does not go into effect until October 1, 2008.
  • VA loan limits – temporarily increases the VA home loan guarantee loan limits to the same level as the Economic Stimulus limits through December 31, 2008.
  • Risk-based pricing – puts a moratorium on FHA using risk-based pricing for one year. This provision is effective from October 1, 2008 through September 30, 2009.
  • GSE Stabilization – includes language proposed by the Treasury Department to authorize Treasury to make loans to and buy stock from the GSEs to make sure that Freddie Mac and Fannie Mae could not fail.
  • Mortgage Revenue Bond Authority – authorizes $10 billion in mortgage revenue bonds for refinancing subprime mortgages.
  • National Affordable Housing Trust Fund – Develops a Trust Fund funded by a percentage of profits from the GSEs. In its first years, the Trust Fund would cover costs of any defaulted loans in FHA foreclosure program. In out years, the Trust Fund would be used for the development of affordable housing.
  • CDBG Funding – Provides $4 billion in neighborhood revitalization funds for communities to purchase foreclosed homes.
  • LIHTC – Modernizes the Low Income Housing Tax Credit program to make it more efficient.
  • Loan Originator Requirements – Strengthens the existing state-run nationwide mortgage originator licensing and registration system (and requires a parallel HUD system for states that fail to participate). Federal bank regulators will establish a parallel registration system for FDIC-insured banks. The purpose is to prevent fraud and require minimum licensing and education requirements. The bill exempts those who only perform real estate brokerage activities and are licensed or registered by a state, unless they are compensated by a lender, mortgage broker, or other loan originator.


Monday morning real estate market update

by Tanya Power

Being the third quarter of the year, which historically is a good time for families to be buying their vacation homes in Hawaii, I am seeing the number of buyers down a bit - though the dollar amount of the houses/condos they are buying is increasing.  The $450,000 and below price range is moving with bargain buyers being the purchasers in this price range. 

Bargain buyers are looking for deals, distress situations, and just plain motivated sellers.  They make offers that 2 years ago would have been scoffed at.  AND they are getting the prices they are looking for.  Moral of that story - make the offer - you never know what motivates a Seller.

The other price range moving is above $800,000.  These are the families and retirees getting their piece of paradise while the gettin' is good!  Prices are the  best we have seen since 1999....for the inventory that is selling.  These properties are generally near the ocean, in a resort community, or have an ocean view.

As always, there are still properties priced above the market rate....and they just sit.  Showings and previews of these properties are few and far between. 

Paradise is still here waiting for you.  Are you considering it???  Come to the Big Island and check it out!

Lucky to live in the United States

by Tanya Power

After returning from two weeks in Switzerland and Northern Italy, I once again am reminded how blessed we are to live in the US.  After witnessing the prices, and more importantly, the availability of housing in these other countries, I feel blessed.  In the town of Murten Switzerland, there is a moratorium on building.  Only so many houses can be built.  If you are lucky enough to find a house for sale (supply and demand) a small home begins at the 500,000 Euro range.  At the current exchange rate, well.....that's a lot of USD's$$$$.

America was founded on the concept of a lot of people owning a small amount of land (not like the huge landowners of the British system where land = wealth and power).  We are so fortunate to have our land available to us and have the American Dream alive and well.  So on this 4th of July week, count your blessings and make sure one of them is the fact you CAN OWN land in this great Nation!

 

Disneyland creates Innoventions Dream Home

by Tanya Power

Remember (or not) when Disneyland first opened and they had the "house of the future"?  It had high tech gadgets including hands free phones, whole wall televisions, voice operated coffee pots and the highest tech of all.....the electric razor.  The House of the Future withstood a decade of "ohs and ahs" and "that'll never happens" and finally the exhibit closed in 1967.  We must have had electric razors by 1967.

Disneyland Resort has announced it is reopening it's new House of the Future....now called Innoventions Dream Home.  It is a 5,000 square foot home that includes Disney business partners from "Microsoft, Hewlett-Packard, software developer Life Ware and home builder Taylor Morrison.  The home will include some elctronic products and technologies that are available today, such as mobile phones, PCs and digital music and games as well as more futuristic gadgets."1

The home is purported to be about the digital lifestyle and how it can help you. 

I, for one, am looking forward to seeing the gadgets......I wonder how "Green" this house is.  Is it sustainable with all of those electronics?  I have "Green" on the brain.....

Disneyland is for fun!  Enjoy!

 

Earth Day - Green Real Estate

by Tanya Power

In an ever changing real estate market and as a Realtor tries to change with the times....a new designation for Realtors has blossomed.  Eco Broker is a new designation for Realtors to achieve.  The education is an extensive one for the Realtor as they study potential hazards in a buildings like lead-based paint, radon, and molds.  It goes a little further on to include "green building" which concentrates on building with renewable resources, less carbon usage, and using less chemicals in the building materials.

And finally, energy producers/savers such as solar power and wind generation.  On the Big Island of Hawaii we are fortunate to have some new technologies on the horizon with the use of wave energy and geothermal energy.  Both are difficult to harness but with the bright minds working on the projects, our futures will likely include these additional power sources.

I am currently working on the Eco Broker classes so watch for that honor behind my name.  Think Green!

 

Kailua Kona Real Estate Update 4/17/2008

by Tanya Power

"They're Baaaack"....Buyers are returning to the marketplace.  We are seeing more activity in showings and offers on property.  National news (whether you are a media pro or con)  has been saying over the past few weeks that real property purchases are now a good buy.  And these news stories seem to have impact....and Buyers are back.

Mortgage rates are still holding at some of the lowest levels in recent decades.  Saavy Buyers are adding real property to their investment portfolios at a time when prices are attractive and there is a lot of inventory to choose from!

Interested in checking out the Kona inventory?  www.findmykonahome.com

It's a beautiful day in Paradise - 81 degrees today!

Displaying blog entries 11-18 of 18

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Photo of Tanya T Power Real Estate
Tanya T Power
Windermere / C and H Properties
PO Box 476
Kailua Kona HI 96745
8089606060
8089606060
Fax: 8089606060