Thank you Trish Morrison for the interesting articles you sent.  Below are some of the points from her latest newsletter:

Good news last week, as Housing Starts for February came in better than expected and actually increased for the first time in eight months. In addition, Fed Chairman Bernanke stated the recession should end in 2009 and that he is confident of the long-term outlook for the US economy.

Last week, the Fed saw their regularly scheduled meeting as a window of opportunity to make a blockbuster announcement.  As mentioned earlier, on Wednesday the Fed announced that over the course of 2009, they will purchase an additional $750 Billion of Mortgage Backed Securities, as well as $300 Billion in long-term Treasuries, primarily to help shore up the housing market and keep home loan rates low. On the announcement, Bonds exploded higher, leaving Bond prices within whiskers of the best levels ever. 

However, it’s important to understand that while their actions may keep a lid on rates moving higher, they may not cause them to move dramatically lower… more on this in the Mortgage Market View article below. 

Additionally, due to many understaffed lenders and investors currently working at maximum capacity, we could once again see that improvements in Bond pricing may not all be passed through to our rate sheets. 

Another factor that could impact whether Bonds and rates see significant improvement ahead are concerns of future inflation – the arch enemy of Bonds and home loan rates – brought on by all the recent aggressive moves by the Fed. While we know there is little inflation at the present time, the chatter of future inflation could have a negative impact on Bonds and home loan rates, or at least stifle any improvements. 

Although the media is already spinning it differently, this is not a time to stay on the fence, hoping and waiting for lower rates. Home loan rates remain within inches of all-time historic lows, but may not necessarily move significantly lower based on this purchasing plan – waiting is a very risky move. 

The Federal Reserve just announced they will buy up to $300B in Treasury Bonds (see attached).  As a result, we feel interest rates will move lower and recommend the following:
1)      YOUR TIME TO BUY PROPERTY IS NOW!  Phenominal property values  are there for your easy picking.
2)      Whether you are buying or refinancing, it is really important to Get in “Ready Position” by choosing a lender and preparing any documents they deem necessary to be in “ready position” at the moment rates are lower
3)      “Watch the Market” for the best interest rates and then “Lock” when rates actually drop which sometimes can be for a very short period of time.  Be sure the lender of your choice is prepared too and has your interest for the best interest rate as their priority.
If you would like a lender list of agents recommended to us by our clients, we would be happy to email you one. 
 

                              www.MauiRealEstate.NET
                              dad@MauiRealEstate.net

                              808-879-3667

Happy St. Patty’s Day to you.  May the luck of the Irish be with you today and always!!!!! 

Aloha
Bob, Donna,Rorie, and Clint

The Hansen Ohana

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WEBSITE CENTRALIIZED PERMIT AND DEVELOPMENT APPLICATIONS ADDED

The County of Maui announced today the recent addition of an online, centralized listing of permit and development applications to assist the public in accessing these services. A total of 63 permit applications are now available online, with most permits having a brief description of the purpose, application procedure, approving agencies, processing time, duration of approval, fees, related forms, resources and contact information. The web link to the new section is www.mauicounty.gov/permitinfo; the section is also cross-referenced by links under the tabs “For Residents,” “For Business,” “What’s New,” and corresponding department and Boards and Commissions webpages. 

The new online permit repository contains information on the various County applications and permits available including construction applications and permits; development applications, permits, reviews and variances; hazardous materials and firecracker permits; wastewater discharge and hauler permits. The online service also allows the public to check the status of a permit, and to search for the database of current permits by type, number, permit/project name, applicant name, status, location, County department and a number of other variables.