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

We thought you would like to know:

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.

We thought you would appreciate reading some excerpts from an internet report we just received.  If we just had a crystal ball, how great it would be.  As it has been said

        “It takes courage to buy at the bottom of the market!”

Our thanks to Craig Goebbel for this interesting point of view.  See below:

 The Craig Report  (excerpts)
….There are two things of which we can be more than fairly certain:
·         The First Time Homebuyer Tax Credit is $8,000, if you hold for three years there is no payback and you can now use it with state agency down payment assistance.  This is good news.
·         In (Washington State) King, Pierce and Snohomish Counties the new Super Conforming loan limit is increased from $506,000 to $567,500.
….How stimulating will all of this money be for our economy and real estate in particular?  Well, we need to wait a (little while) to find out.
….We all know how the price distortion of homes was created.  All of us, and I do mean all of us took part in the unprecedented run-up in home values fueled by the idiot money of pay option arms, stated income and zero down.
Now, all of us are feeling the pain of the ugly reality of correction.  No market is immune and no sector of the economy has been spared.  The questions are how much more and how much longer? …..
…..  Median income has always driven the median price of housing and residential rental rates.  The affordability index combines median income with prevailing interest rates and median home prices.  I contend the bottom is just around the corner because real median income (not stated median income!) has not dropped nearly as drastically as home prices.  Second, the affordability index is quite favorable for homebuyers because of the price adjustments already in place and very low interest rates.  I believe we are at or very near the bottom, particularly in the Pacific Northwest and most other parts of the country as well….

www.CraigGoebbel.com

Thanks again to Tricia Morris of Premier Mortgage for allowing us to use excerpts from her newsletter. Tricia’s number is 808-874-8800 or email  tricia@mortgagemaui.com

The week ahead looks to be loaded with action yet again, as two key reports bookend the week. On Monday, we will get the details on the Fed’s favorite gauge of inflation, the Core Personal Consumption Expenditure (PCE) index, found within the Personal Income report. As mentioned above, the Fed said they believe that “inflation pressures will remain subdued in coming quarters”, so it will be important to see what this report reveals. 

On Friday, the Labor Department releases their Jobs Report for January. Last month, they reported 524,000 jobs lost during the month of December. The employment environment continues to be shaky, with many major companies such as Home Depot, Caterpillar, Sprint, and Texas Instruments announcing job cuts recently. While all those cuts won’t take place at once, Friday’s number probably won’t be a pretty one. 

Remember: When Bonds prices move higher, home loan rates move lower and vice versa. As you can see in the chart below, Bonds and home loan rates lost some ground since the Fed’s meeting last week. As always, I will be watching closely to see what happens this week – and encourage you to call me to learn more or discuss your own financial picture. 

With the economy tightening, now is the perfect time to review your finances and prepare a smart plan for your spending. In this short video, you’ll get five great ideas to help you analyze your spending, locate and plug the leaks, and stay on track with a comfortable budget that helps you achieve your goals.