B4 • Friday, July 30, 2021
US home prices surge 17% in May, fastest in 17 years ASSOCIATED PRESS WASHINGTON — Prices for U.S. homes rose faster in May than they have in 17 years as surging demand for housing outstripped the supply. The S&P CoreLogic Case-Shiller 20-city home price index, released Tuesday, soared 17% in May from a year earlier on top of a 15% jump in April. The May increase was the biggest since August 2004. The hottest markets were Phoenix (where prices surged 25.9%), San Diego (24.7%) and Seattle (23.4%). All 20 cities reported faster year-over-year growth in May than they did in April. The U.S. housing market has been hot. Many Americans, tired of being cooped up at home during the pandemic, have traded in apartments and small homes in city for bigger houses in the suburbs. The Federal Reserve’s easy money policies have also kept mortgage rates near historic lows, pushing up demand for housing. The supply of houses for sale has been limited, partly because many Americans are reluctant to put their properties on the market and allow would-be buyers to troop through their homes. But rising prices have pushed many would-be buyers out of the market. The Commerce Department reported Monday that sales of new homes fell in June for the third straight month, sliding to the lowest level in more than a year. Last week, the National Association of Realtors reported that sales of previously occupied homes rose in June, snapping a fourmonth losing streak. “Price pressures remain very firm and appear ready to stay that way in the months to come,’’ said Matthew Speakman, economist at the real estate firm Zillow. “Indeed, sharply rising prices do appear to have priced out some home shoppers, particularly those looking to enter the market for the first time, and causing fatigue among would-be buyers. But overall demand for homes remains very firm.’’
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Energy-saving tips to keep your cool this summer late sunsets, there are plenty of opportunities throughout the day to let in a little extra light without using electricity. However, there can be cloudy skies and rainy days during the summer when the lights in your home can be necessary. The Lutron Maestro Dimmer can automatically turn lights on and off when you enter or leave a room. It’s a simple, easy and low-cost way to save energy and add light automation to your home. It can automatically adjust to a favorite dimmed level when you walk in, then turn the lights off when you leave.
BRANDPOINT There’s a lot to love about summer. At the same time, the season can run up your electric bill fast, especially for Americans living in places where summer temperatures are reaching record highs. According to recent reports, states like Washington and Oregon have seen recording-breaking temperatures this summer - just recently, Salem, Oregon, reached 117 degrees and Seattle reached 106 degrees. Even if things are heating up in your area, there are many ways to keep your body temperature and electric bill down this summer. Here are a few things you can do: Spend more time outdoors
biggest energy sucker in your If the weather isn’t dangerously home. Yes, having it on is crucial for keeping your home cool, but hot, spending time outdoors can be a great way to enjoy your sum- you’re likely not home all day, evmer. Plus, the more time you ery day. spend outdoors, the less time you With its energy-saving capabilispend using electricity in your ties, the Google Nest Thermostat home, even if you have the AC is the ideal thermostat for your running. There are plenty of outhome. Its easy installation and door activities you and your loved auto temperature-adjusting capaones can do this summer that bilities mean you can save more won’t cause your electric bill to on your electric bill every month. skyrocket, like: It can turn itself down when you w Adding an umbrella to your leave the house, so you don’t pool/porch waste energy cooling an empty w Having a picnic in the shade home. w Going on a run And with its Savings Finder feaw Going on a hike ture, it looks for ways to help you w Adding a shade structure, like save even more. a pergola Plus, you can control the temperature in your home from alAutomate your thermostat most anywhere by using Google Your thermostat is probably the Home app.
Use your fan instead of your AC Use electricity during off-peak hours The time of day you use electricity can also affect your electric bill. Energy companies tend to charge more during what they call “peak hours,” where demand for electricity is highest. These peak hours are typically early in the morning or late at night. However, those peak hours have changed as more people are working remotely. Reducing the amount of electricity use during peak hours when reasonable can lessen the load on the power grid and save you some money every month. Turn down your lights Alongside your AC, your lights can increase your electric bill too. In the summer months this is an easy fix, with early sunrises and
A room fan can provide an affordable alternative to your AC. According to the U.S. Department of Energy, it costs about 36 cents an hour to run your AC; it costs about a penny an hour to run a ceiling fan. So as long as you run your fan responsibly with other energy-saving strategies, it can help reduce your electric bill. With its dimmable LED lighting and versatile color temperatures, the Hampton Bay Mena Ceiling Fan uses the perfect combination of technology and energy-saving resources to help you lower your electric bill. It is EnergyStar rated and is 50% faster to install than your traditional fan. Plus, the fan is damp rated and can be used on porches or patios too. You can find more energy-saving products like this at your local Home Depot store.
Save money with a local mortgage. Free up money for what matters most.
US average mortgage rates mixed; 30-year loan rises to 2.80% ASSOCIATED PRESS WASHINGTON — Mortgage rates were mixed last week. The key 30-year home loan remained below 3% for the fifth straight week amid continued concern over the surging delta coronavirus variant and the progress of economic recovery. Mortgage buyer Freddie Mac reported Thursday that the average for the 30-year mortgage edged up to 2.80% from 2.78% last week. The benchmark rate, which reached a peak this year of 3.18% in April, stood at 2.99% a year ago. The rate for a 15-year loan, a popular option among homeowners refinancing their mortgages, fell to 2.10% from 2.12% last week. In a fresh sign that the U.S. has enjoyed a sustained recovery from the pandemic recession, the government reported Thursday that the economy grew at a solid 6.5% annual rate last quarter. The total size of the economy has now surpassed its pre-pandemic level. Another positive government report showed that the number of Americans seeking unemployment benefits slid last week, with jobless claims dropping by 24,000, to 400,000.
(808) 245-2463 | aloha@kgefcu.org Use our loan calculators at www.kgefcu.org/loan-calculator.
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Friday, July 30, 2021 Page 5
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KAUAI’S
real estate directory P L A C E Y O U R A D today 2 4 6 - 0 3 2 5
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Lawai
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Lawai-$295,000 Lot Size: 0.61 acre(s) Kevin M. Horita RB RB-19351 808-639-8213 MLS 625256
Hanalei -$965,000 3 Bed / 2 Bath Interior Area: 1,320 sq.ft. Lot Size: 4,885 sq.ft. Leah Ragsac Rs-80621 808-212-4086 Glen Kojima RS-80593 glen@kauairealty.net MLS 650209
LIHUE-$875,000 4Bed/2 Ba. Interior Area: 1,681 sq.ft. Lot Size: 6,525 sq.ft. Tad Miura RB-12398 808-652-6698 MLS 651344
Kalaheo IN ESCROW
KAUAI REALTY
MOVE IN READY IN PUHI $730,000 3Bed/2Ba Interior Area: 1,104 sq. ft. MLS 651840 Ashley M. Carvalho, (PB) RS-73535 Ashley@AshleyCarvalho.com 809-639-9307 Mark Tanaka, RB-9222 Mark@MarkTanaka.com 808-639-0367
WELL MAINTAINED AND MOVE IN READY This 3bed, 2ba home, single level and wood frame, features a spacious and open yard, 2 car garage, on a cul-de-sac. An opportunity to own a one owner home with some recent upgrades like a new stove, stainless steel Kohler sink, and all new flooring.
Kalaheo-$1,025,000 5 Bed/4 Ba. Interior Area: 2,656 sq.ft. Lot Size: 14,776 sq.ft Mark K. Tanaka RB-9222 808-639-0367 Ashley M. Carvalho RS-73535 808-639-9307 MLS 649544
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Kapaa-$1,250,000 3 Bed/2.5 Ba. Interior Area: 2,283 sq.ft. Lot Size:1.81 acres Ann Zaslow RS-82535 808-639-3675 MLS 641043
Waimea
Lihue
Kapaa
PRICE REDUCED
Lihue SOLD
Lihue-$1,570,400 Lot Size: 1.03 acres Eric N. Yama RB-10975 808-639-3414 Mark K. Tanaka RB-9222 808-639-0367 MLS 632948
Wailua- $689,000 3 Bed/2 Ba Interior Area: 1,500 sqft Lot Size: 27,573sq.ft. James "Kimo" St. John RS-59918 808-635-8016 MLS 648195 Maile Properties of Kauai
Kapaa -$650,000 Lot Size: 11,250 sq.ft. Carol Cummings RB-14915 808-651-4766 MLS 647227
Waimea-$1,500,000 8 Bed/4 Ba. Multi Unit Residential Lot Size: 14,039 sq.ft. Clifton Kukino RB-15364 808-639-1490 Jordan Kukino RS-81289 808-634-5032 MLS 636254
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Joseph Quentin
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Land Area: 12,770 sf Living Area: 1,744 sf Beds/Baths: 3/2 List Price: $1,295,000 MLS# 652611
Custom Color Matching • Sikkens Wood Finishes • Purdy Brushes • Graco Sprayers Home Owner • Maintenance • Commercial • Industrial
246-8828
AROL C. CUMMINGS RB-14915 (RB) CRB, CRS, GRI, SFR
Across From Kauai Community College
4490 Puhi Road, Lihue Mon-Fri 7:30am to 4pm Sat 8am to 12 Noon
808-651-4766
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Commercial zoned property at 2817-A and 2815 Poipu Rd, Koloa, HI. Great road frontage for any business and/or commercial use. 2817-A is currently a duplex residence and 2815 is vacant land. You may view more pictures and information on www.kauai-realty.com, MLS 643813 and 643808. Asking price for both properties is $3.7 million fs.
Melinda B. Yomen RS-56237, CRS
Cell: 808-482-0452 • melinda.yomen@gmail.com
Your locally owned paint store. Serving the people of Kauai for over 27 years!
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Kuhio Shores #101, ground floor unit and located at all the favorite surf spots on the southshore. 1 bed/1 bath, air conditioning and upgraded kitchen. Asking $750,000 fs.
www.kauai-realty.com
2403 Ulu Maika Street • Lihue, Kauai, Hawaii 96766
FULL SERVICE REAL ESTATE COMPANY LOOKING FOR RENTALS
Steven M. Martin-Oldfield
Realtor, Principal Broker RB-17551 Office: 808-822-4444 Cell: 808-652-1759 manager@kauaipac.com
Our rental units are 100% occupied. If you are looking for a Property Manager, we would love to talk with you! We offer you: Reasonable rates Tenant screening Oversee rent collection, taxes, and repairs Full service with attention to detail! Drop by our office or call for an appt. today!
www.kauaipacificrealestate.com
RB-2100