thegardenisland.com
Friday, December 30, 2022 • B3
THE GARDEN ISLAND
HOUSING MARKET CONSIDERATIONS This could land you without a home for a short period of time between closings. Plan for a scenario where you don’t get the cash or the dates needed from your sale.
Rachael Westgate WEALTH OF GEEKS
The winds have turned on the U.S. housing market. Sellers listed 24 percent fewer homes in October compared with 2021, according to data from Zillow. Fewer people are buying houses though, sales dropping 17 percent below the pre-pandemic estimates in 2019. After months of weathering high prices and endless bidding wars, weary buyers may find reprieve in the incremental price decline. But lower prices may not mean an easier ride. House hunters should keep some considerations in mind. Expect higher monthly payments Yes, although prices aren’t crashing, they are declining, but interest and subsequent mortgage rates are still high. Even though the house you may be considering could be cheaper than it was six months ago, your monthly payments may be higher. In order to make an accurate budget for your next home, consider getting preapproved with a mortgage lender, so you know just how much your expected rate is and what you qualify for. Be prepared to wait Due to the high rates and low inventory, you may have a hard time finding the home you originally envisioned in your new budget.
GENE J. PUSKAR / ASSOCIATED PRESS FILE
A new housing development in Middlesex Township, Pa., on Oct. 12, 2022. Not feeling rushed or pressured to purchase quickly will help you save money by spending wisely. It will also help you stay sane as you shop.
If you have the budget and purchasing real estate is the right choice for you, then looking for the right home instead of the perfect time is your best choice.
portfolio instead of money in a landlord’s pocket. Have an interim plan
Some buyers in today’s market are in a position where they need to sell their Don’t try to time the Play the long game current home in order to market purchase another. Just as Owning real estate is a You’ve heard it once, and long-term play. If you’re pur- you have to be patient for the right home as a buyer, you’ll hear it again: the odds chasing in the current marare against you when you try ket, you’ll benefit from living you may have to wait a while for any buyers to take you to time the real estate marin that house or holding on to that investment property up on your current listing. ket. Buyers will negotiate in for a long time. The market is Yes, prices are on their not well-equipped for short- this market, which means way down. Yes, they could term purchases at this time. you may not get what you continue on this downward want or need in order to Not convinced? Hometrajectory for several months. In fact, economists owners in the U.S. have a me- complete your purchase on the other end. at Wells Fargo predict that dian net worth of 40 times You may also find that you they may stay low until 2024. that of renters. aren’t able to get the closing But you’ll never be able to You are on the path to time the market to perfecbuilding wealth, and buying dates you want on both ends of your purchase and sale. will mean equity in your tion.
Expand search radius
You may have your heart set on a particular neighborhood, but despite the slow decline, prices are still out of reach in a number of sought-after areas. Know your hidden costs Consider expanding your Inflation hasn’t been on search radius to include upthe headlines of every fiand-coming neighborhoods. nance article for the last year Remember, real estate is a for no reason. Prices are ris- long-term investment. Seting across the board - for ev- ting down roots in an area that is benefiting from develerything. The costs you budgeted for things like utili- opment now may reap beneties, services, inspections, fits in the future. and repairs six months ago If you’re willing to extend are likely no longer accurate. beyond nearby neighborRevise your budget to rehoods, why not consider one of the cities in the U.S. that flect the inflated hidden costs associated with buying has experienced a more suba house, not just the mortstantial price drop than the average? According to Zilgage. low, month-over-month Boost your credit score home prices dropped subMortgage rates have more stantially in September in than doubled since the bePhoenix (2.3 percent), Las ginning of 2022. According to Vegas (1.9 percent), and AusBlack Night, a mortgage data tin (1 percent). company, the monthly principal and interest payment on Don’t get discouraged Purchasing a home in tothe median-priced home is up 73 percent from last year. day’s real estate market is Work to improve your challenging but not impossicredit score to lock in the ble. With prices on a steady best rate possible. Higher decline and inflation data scores allow you to qualify showing promising trends, for lower rates, which means buyers may be in luck. There more savings on your is much to consider when monthly payments. thinking of opening your There are a few things you pocketbook, but buyers will can do to improve your be well-equipped to shop credit score today: around in today’s housing • Pay down debts. market with these tips in • Fix any errors on your mind. credit report. ••• • Request a higher credit This article was produced by limit. Wealthy Living and syndi• Avoid late payments. cated by Wealth of Geeks.
Celebrate this holiday season Celebrate With a 1% rate discount On a personal loan this holiday * APR
season with a Celebrate this holiday sea 1% rate discount With a 1% rate discount onaCelebrate apersonal personal loan On loan this holiday
Apply online www.kauaicreditunion.org Average mortgage rates rise after 6 weeks of declines ASSOCIATED PRESS
The average long-term U.S. mortgage rate rose this week after falling for six straight weeks, adding to the challenges potential homebuyers face amid higher home prices and a limited supply of available houses. Mortgage buyer Freddie Mac re* APR=Annual Percentage Rate. Federally insured by NCUA. Advertised rate based ported Thursday that the average on credit on the benchmark 30-year rate in-scores of 750+ and a 12-month lending period. Rates are subject to change creased to 6.42 percent from 6.27 percent last week. That is more than double the year-ago average rate of 3.11 percent. The long-term rate reached 7.08 percent in late October and again in early November as the Federal Reserve has continued to crank up its key lending rate this year in an effort to cool the economy and tame inflation. The big increase in mortgage rates has torpedoed the housing market, with sales of existing homes falling for 10 straight months to the lowest level in more than a decade. While home prices are now dropping as demand has declined, they are still nearly 11 percent higher than a year ago. Higher prices and a doubling of mortgage * APR=Annual Percentage Rate. Federally insured by NCUA. Advertised rate based rates have made homebuying on credit scores of 750+ and a 12-month lending period. Rates are subject to change much less affordable and a much more daunting prospect for many people. George Ratiu, senior economist at realtor.com, calculates that the monthly payment for a median-priced home is now about $2,100, before taxes and insurance, up more than 60 percent from a year ago. The median is * APR=Annual Percentage Rate. Federally insured by NCUA. Advertised rate based halfway between the highest and on credit scores of 750+ and a 12-month lending period. Rates are subject to change lowest figures.
APR
* APR
Apply online www.kauaicreditunion.org * APR
With a 1% rate disco On a personal loan Apply online www.kauaicreditunion.org
Page 4 Friday, December 30, 2022
THE GARDEN ISLAND
808-246-0325
KAUAI’S
real estate SELL YOUR STUFF directory $9.99 $ MUST SEE! WAILUA 9.99 ANNOUNCE MENTS
SELL YOUR STUFF
www.thegardenisland.com
Pets
ANNOUNCE KAUAI’S MENTSMERCHAN
Legals / Public Notices DISE
t h e g arde n i s la n d . co m / cla s s i f i ed s
A WEEK
A WEEK
ON ALL MERCHANDISE ADS*
Land Area: 11,890 sq. ft. Business Hours Call Center Monday–Friday; 7:30 a.m.–5:30 p.m. Bedrooms/Baths: 2/2 WE GLADLY List Price:ACCEPT: $788,000 MLS 666138
*Restrictions may apply. Call for details.
ON ALL MERCHANDISE ADS* *Restrictions may apply. Call for details.
Completion Completion of Contract of Contract RestaurantOWNER’S NOTICE OF OWNER’S NOTICE OF Food Service MERCHAN COMPLETION OF COMPLETION OF CONTRACT CONTRACT FLYING FOOD GROUP DISE Catering To Various
Deadlines: Regular, single-column classifieds in The Garden Island can be placed until 4:45pm on Monday, Tuesday, Wednesday,
Business Hours Call Center
noon on Friday for Sunday and Monday. (We are closed Saturdays and Sundays).
Monday–Friday; 7:30 a.m.–5:30 p.m. and Thursday for the following day, noon on Friday for Sunday The Garden Island Real Estate Deadlines: To place, correct Deadlines: noon on Friday for Sunday and Monday.Please (We are advertisers, The or Garden Island does the right to edit, and Monday. callclosed your sales executive 246-0325 for reserve or cancel a Friday real estate/rental single-column ad, please Regular, refuse, reject, or cancel any ad at any time. All ads areon subject WEsingle-column classifieds in The Garden Island can Saturdays and Sundays). deadlines for larger, multi-column ads. call by noon Thursday. be placed until 4:45pm on Monday, Tuesday, Wednesday, to approval prior to publication. We are not liable for losses GLADLY Cancellation/Correction Deadlines: To resulting cancel or Check ad foroferrors the first day it runs in the paper. and Thursday for the following day, noon on Friday for Sunday The Garden Island Real Estate or expenses fromchange publication errors your or omission Deadlines: To place, correct ACCEPT: an ad in the Gardenad, Island, 4:45pm on ads Monday, Wetoare unable to toissue credit for errors reported after the and Monday. Please call your sales executive or 246-0325 for or cancel a Friday real estate/rental single-column please call an us ad by at any time. All are subject approval prior for We theare following day, first day of publication. While we try to accommodate our deadlines for larger, multi-column ads. call by noon on Thursday. Tuesday, Wednesday, and Thursday publication. not liable for losses or expenses resulting from publication errors or omissions of an ad. Advertising rate Cancellation/Correction Deadlines: To cancel or change Check your ad for errors the first day it runs in the paper. cards are available from any sales executive. Ads are subject an ad in the Garden Island, call us by 4:45pm on Monday, We are unable to issue credit for errors reported after the to the rate card in effect at the time they are placed. Tuesday, Wednesday, and Thursday for the following day, first day of publication. While we try to accommodate our
NOTICE IS HEREBY GIVEN that pursuant to the Provisions of Section 507-43, of the Hawaii Revised Statutes, the construction by N A K A Z A W A CONSTRUCTION INC. of that certain NEW RESIDENCE, situated at 337-A LANAKILA RD., KAPAA, Hawaii, TMK: (4) 4-1-014-006, has been completed.
Designed and built by owner – craftsman.
AROL C. CUMMINGS RB-14915 (RB) CRB, CRS, GRI, SFR
Airlines NOTICE IS HEREBY NOW HIRING GIVEN that pursuant to For Hourly, Food Prep/ the Provisions of Section Assembly, Driver, Equipmt 507-43, of the Hawaii Packing, FFQ Tech/Admin Revised Statutes, the Competitive Pay Rates & (Medical, Dental, construction by Benefits Vision, and 401k) N A K A Z A W A Apply in Person CONSTRUCTION INC. of 4234 Hanahao Pl, Lihue, that certain NEW HI 96766 or Call 808246-8361 ext. 1 RESIDENCE, situated at Equal Opportunity 4751 ALIOMANU RD., Employer ANAHOLA, Hawaii, TMK: 4-8-013-016, has been completed.
KEN AND KAINOA KIMO AND RUTH ALULI NAKAZAWA Owner(s) Owner(s) (TGI1399734 12/30/22, (TGI1399735 12/30/22, 01/01/23) 01/01/23)
808-651-4766
kauairealty@gmail.com
NOW HIRING!
'VMMUJNF 1PTJUJPOT Phlebotomists (Lab Assistants 1R H[S QHFHVVDU\ 3$,' 75$,1,1*) Driver (Courier) Medical Technologist
Contact HR at 808-679-4100 or hrconnection@hawaiilabs.com www.ClinicalLabs.com 808-677-7998
advertisers, The Garden Island does reserve the right to edit, refuse, reject, or cancel any ad at any time. All ads are subject to approval prior to publication. We are not liable for losses or expenses resulting from publication errors or omission of an ad at any time. All ads are subject to approval prior to publication. We are not liable for losses or expenses resulting from publication errors or omissions of an ad. Advertising rate cards are available from any sales executive. Ads are subject to the rate card in effect at the time they are placed.
KOLOA - $829,000 3 BED/2.01 BATH 1,639 sqft Interior 7,267 sqft Land Mark Tanaka 808-639-0367 Ashley Carvalho 808-639-9307 MLS 665859
Appliances Recycled Appliances Washers, Dryers, Stoves & Refrigerators $250+ 6 months warranty. Tashi 808-652-0551
Lihue
Hanamaulu
$275,000 LH 1 BED/1 BATH 554 sqft Interior Shelly Kaui Carvalho 808-652-3886 MLS 666089
LIHUE
Pets AKC Labrador Retriever Puppies with Papers. $1,700/OBO.Call or email for info. 808-335-2808 kauai8888@gmail.com
IN ESCROW
Purebred Doberman female pups 1 blue & 1 black/tan born 10/21/22 tails docked, 1st shots, vet checked, no papers $2000 /each. 808-209-0728 Subscribe today 245-0433 thegardenisland.com
Wishing You All a Very Safe and Prosperous New Year!
IN ESCROW
UKC Reg American Pitbull Terrier Pups Red Nose Reds Shots & Dewormed. $1000+ OBO (808)554-1150
FOR AS LITTLE AS
P L A C E Y O UFOR R A D AS t oday 2 4AS 6-0325 LITTLE
Koloa
MERCHAN DISE
HIRING NOW! FT, PT and Casual Positions
Omao OMAO HANAMAULU $785,000 5 BED/2 BATH 1,384 sqft Interior 6,360 sqft Land Lauren Yama 808-346-4204 RS-84751 MLS 666016 PRICE REDUCED $4,000,000 Vacant Land Lot Size: 7.46 acre(s) Tom H Shigemoto RS-53693 808-651-5273 Mark K. Tanaka RB-9222 808-639-0367 MLS 663481
Stay Informed Subscribe today 245-0433 thegardenisland.com
Hanapepe HANAPEPE
245-0433
Landscape & Maintenance Laborers, Weeders etc. Call 808-822-6900 or Apply Online at
808-822-3100
www.kauailandmark.com
Larry Fudge RB-18519 808-635-1111
Diane A. Pavao RS-58020 808-651-3557
Custom Color Matching • ProLuxe Wood Finishes • Purdy Brushes • Graco Sprayers Home Owner • Maintenance • Commercial • Industrial
Subscribe today
245-0433
(808) 246-8828 Across From Kauai Community College
4490 Puhi Road, Lihue Mon-Fri 7:30am to 4pm Sat 8am to 12 Noon
Kapaa
Stay Informed
PRATT & LAMBERT PAINTS
PITTSBURG PAINTS
$1,495,000 3 BED/3 BATH 3,200 sqft Interior 18,684 sqft Land Carol C. Cummings RB-14915 808-651-4766 Shelly Kaui-Carvalho RS-64829 808-652-3886 MLS 665879
Your locally owned paint store. Serving the people of Kauai for over 29 years!
thegardenisland.com
Subscribe today
lushlandscapingkauai.com
KAPAA - $650,000 2 BED/1 BATH 560 sqft Interior 17,829 sqft Land Clifton Kukino 808-639-1490 Jordan Kukino 808-634-5032 Kaylin Kukino 808-635-2822 MLS 663205
thegardenisland.com
KAUAI REALTY
LIHUE $799,999 3bed/1.5ba Interior: 1,328 sqft MLS 666107 Mark K. Tanaka, RB-9222 mark@marktanaka.com 808-639-0367 Ashley M. Carvalho, RS-73535 ashley@ashleycarvalho.com 808-639-9307
Certified Inspector Joseph Quentin
We make your next home inspection a breeze
www.quentinllc.com (808) 855-5280
BBB Rating: A+ As of 9/30/2020
FULLY FENCED 3 Bedroom, 1.5 Bath home located in the Komohana Subdivision in Puhi. This single level wood frame home features a large recreational room, tile floor throughout, solar hot water heater and a 15 panel photovoltaic system. The property is on a flag lot at the end of the cul-de-sac. The spacious level yard is perfect for outdoor enjoyment and the large avocado tree provides lots of delicious fruit!
Happy New Year 2023! Be Blessed Kauai. Tim Mira RB-21130
Nagel Mira RS-84679
Co rcor Corcoran C Pacific Properties 808.639.2263 8 08.63
Corcoran Pacific Properties 808.631.8339
Find F ind K Kauai properties today at: KauaiPropertySearch.com
2021
2022