Here is the latest version of Keri Shepherd’s Mortgage Market Update. 

Here it is again.  I had read in a previous Honolulu Advertiser article that auto sales are an indicator of the economy, so I thought I would post this article.

Last year sales declined 4.3 percent, reflecting a state economy that grew at a slower pace.  During the last year, Hawai’i has experienced declining visitor arrivals, a drop in volume of home sales and a stabilization in home prices.

I read:

The market’s worst loss since February comes on worries about housing, credit markets contraction and ExxonMobil’s disappointing earnings report. Apple’s earnings shine; Ford surprises with a profit. Is the end of the leveraged-buyout era here?

As reported in our preliminary release last week, the home-building industry continues to face an extremely difficult environment that includes record existing and new-home inventory levels, intense price competition and weak consumer sentiment for housing, CEO Richard Dugas said in a statement yesterday.

Also read: Mortgage Rates fall

This was an interesting article outlining some of the difficulties for children of military families in regards to education when being relocated frequently. 

There is sometimes the need to take state history courses in multiple states, and varying graduation requirements, among a long list of disparities from one state to the next. The challenge our military children face is that they have been meeting all requirements when they were in state A, and they moved to state B, and now they have to start all over again,

The latest figures for the isles unemployement are out.  With having already unbelievably low numbers, the unemployement numbers are even lower.  We are tied for the lowest unemployement in the nation.

In the mid 1990’s, the housing market on Oahu hit almost rock bottom.  Part of the reason was the large cuts in military spending by the Federal Government.  This showed Oahu’s dependence on the military as an economic source of income.  The article here talks about the Stryker Brigade , it’s potential exodus and it’s replacement.

I really felt from the beginning that the Superferry will probably be most successful with the business sector for the delivery of goods within the islands.  The Hawaii Superferry is a Cargo Option, too  was a good read in the Honolulu Advertiser.  It does a good job of touching on a how the Superferry could effect Young Brothers, the local airlines, and the relationship that businesses all have with each other.

This opens up a whole new way of thinking, both for people shipping goods from O’ahu to the Neighbor Islands, as well as people shipping goods from the Neighbor Islands to O’ahu, It has the potential to change a number of business practices.

said David Bess

news of the Superferry’s start prompted U-Haul of Hawaii to build special repair vans that can be shipped to the Neighbor Islands. Starting in September, they’ll be used to make the rounds of the company’s Neighbor Island operations for work that’s currently contracted out.

Talk about a massive face-lift.  I have always tried to stay away from Waikiki.  Now with all the changes, it is really becoming a place to be for entertainment and evening get togethers.   I even find myself looking to go to Waikiki more often now since it is showing the effects from being “cleaned up”. 

The facelift started with Waikiki Beachwalk, the creation of new shopping and dinning areas, the renovating of the hotels on Beachwalk, and the creation of Trump Towers, the facelift is now spreading its way down Kalakaua Ave.   

Towill sees it as much demanded by customers, who want to do more things, explore new food, destinations and culture. “You have to continually improve your product,” he said

The Fed is going after subprime lenders. This comes as good news to an industry that needs some cleaning up, but bad news to the housing market.  The continued focus on lenders has caused lending companies to tighten their guidelines for obtaining loans in an attempt to clean up their image and improve themselves with the fed government.  What it has also done is removed a chunk of buyers from the buyer pool.  This obviously effects buyers that are boarderline to begin with, some that should not be buying a home and some that would succeed at home ownership if they were given the chance.  This decreases the buyer pool in an already slowing housing market. 

I have seen enough problems in the lending industry and the lack of accountability that has gone on to want there to be some sort of change.  I am held accountable for my practices through our state licensing laws and by my affiliation with the National Association of Realtors. 

Since the Lender is a big part of the home buying process, which is usually the largest investment that one makes, it pays to interview several lenders, and speak with an accountant or financial planner about your decision making process.  

I was sent a link to Hawaii Public Radio recently.  It was their coverage on the recent trend of local buyers selling their homes and moving into the new luxury condos in town.  It also quotes Harvey Shapiro, and hits on the topic that empty-nesters are in a growing trend to give up the maintenance of a home, and are looking to move into a smaller more manageable condo that is in close proximity to a lot of activities.  Go to Higher Prices In Real Estate Help Local Buyers.  For the audio clip.