Showing posts from April, 2015

Pay More or Less

Paying more for your house payment does not make your home more valuable. It does mean that the mortgage rate may be higher than it has to be. Even though fixed rates may never again be as low as they are currently, an adjustable rate mortgage may provide the lowest cost of ownership depending on how long a borrower plans to own a home. There are different types of ARMs but the one in this example is a 30 year mortgage with the rate fixed for five years and can adjust every one year after that based on independent indexes. Another feature of a FHA ARM is the maximum rate change in one period is 1% and the maximum lifetime cap is 5% over the initial rate. In the example below, the payment on the adjustable is $153.48 lower for the first five years or 60 payments. Another interesting thing is that lower interest rate loans amortize faster than higher interest rate loans. In this example, the ARM has a lower unpaid balance at the end of the first five years by $4,239. The total s…

Events for the first weekend in May

13th Annual Waikiki Spam JamSaturday, May 2, 2015 4:00 pm- 
10:00 pm

It's the annual Waikiki Spam® Jam, a cultural tradition in Hawaii, and rated as one of the top annual food festivals in Hawaii. The Waikiki Spam® Jam, which starts at 4:00 p.m. and ends at 10:00 p.m., is one of the most popular festivals in Hawaii because of its great food and entertainment in a family-friendly atmosphere. Local residents and visitors alike have made this an annual tradition. 
Location: Kalakaua Ave
Honolulu, HI96815
Cost: Free Donations of Spam for the Hawaii Food Bank are being collected during the event. Please bring down a can of Spam® to donate.

Symphony in the ParkSaturday, May 2, 2015 5:00 pm

FREE concert in Kailua District Park on Saturday, May 2, conducted by Dr. Jeffrey Boeckman of the University of Hawai'i at Mānoa and emceed by Howard Dicus of Hawaii News Now.

Basic Legal Documents

Many times, young adults feel “bullet-proof” and don’t consider the urgency to get involved or spend the money to take care of certain legal aspects of their lives because they think they’re going to live forever.  Since no one is guaranteed longevity of life, if you want to be in control of who gets what and who is in charge now based on an untimely incapacitation or death, it is important to investigate these basic legal documents. Will – This is a legal instrument that specifies your desires to care for your minor children and to distribute your personal property after you die and who will manage the process.  Anyone who has property and minor children needs a will. Living Will – This legal instrument specifies your intentions regarding end of life decisions or to designate an individual to make those decisions on your behalf.  Many times, a person who had been diagnosed with a terminal condition or who is facing a serious surgery or hospitalization might feel a sense of urgenc…

Events for April 24-25 Eats, Expos and Laughs

Eat The Street: PhilippinesFriday, April 24, 2015  4:00 pm- 9:00 pm

Come enjoy Hawaii's Food Truck and Street Food Rally featuring treats from the Philippines.  Don't miss happy hour and entertainment from 4-6pm
Location: Kaka'ako Makai Gateway Park 677 Ala Moana Blvd Honolulu,HI96813

Are You Ready?

For whatever reason you’ve delayed buying a home, it may be time to reconsider that decision based on today’s conditions and what is expected to happen in the future. Rents are continuing to increase to the point that in most markets, it is significantly less expensive to own than to rent.  Even after you factor repairs into the equation, the low interest rates, principal accumulation due to amortization, appreciation and tax savings lower the monthly cost of housing. Low inventories coupled with strong demand cause a rising effect on prices.  Another reason for higher values is that builders, especially in certain price ranges, have not ramped up new home starts to keep up with the demand. Recently, the Federal Reserve announced that they intend to start raising rates. Most experts agree that higher interest rates are a foregone conclusion; it is just a matter of when it will happen. A $300,000 home today could cost considerably more one year from now.  With a 20% down payment…

Rent Again?

After you take the training wheels off your bike and learn to ride it, you’d never consider putting them back on again.  Similarly, once you’ve owned a home, you might think you’ll own a home from now on but there may be some situations where it might make sense to rent again. Big shifts in a person’s life like a divorce, death of spouse, empty nesting or a temporary transfer to a new city are certainly things that may warrant renting, at least temporarily, until those circumstances develop the particulars. A good example might be that you think you’d like to move downtown.  Before selling your home and purchasing a condo, it might be enlightening to rent an apartment to see how you’ll adapt to the changes in that style of living. The sales and purchase expenses incurred with real estate are absorbed over the period ownership which is usually between ten and twelve years.  When the holding period involves only a few years, it can negatively impact a homeowner’s equity. Like any m…

Events for April 10 -12, Fun at the Fair and Everything Ocean

Iolani Fair 2015: Adventures in Atlantis
April 10, 2015 Friday April 11, 2015 Saturday 12 Noon - 10:30pm both days

Come join the fun with rides, entertainment and foods galore.
More Info:
Location: Iolani School

April 11, 2015 Saturday 11am - 8pm April 12, 2015 Sunday 11am - 5pm

This will be the 7th year for the Hawaii Ocean Expo.  Come see participating exhibitors and vendors that will highlight ocean related activities such as fishing, diving, swimming, paddling, surfing, boating, kayaking, and delicious seafood. The event will also include ocean researchers, education institutions, conservation and ocean policy advocacy groups.
More Info:
Neal S. Blaisdell Arena 777 Ward Avenue Honolulu, HI96814
Cost: $6 GA; Child 12 yrs & under FREE w/ paid adult