COLDWELL BANKER MARYL REALTY Kailua Kona • Queen Ka‘ahumanu & Henry St. #203 Offi ce # (808) 331-8200 /Toll-Free # (800) 845-7559 View Current Listings at ColdwellBankerMaryl.com Offi ce License # RB-16961 KONA BALI KAI 1 bedroom, 1 bath ground floor unit with garden view in a popular vacation rental & it’s fully furnished! Buddy Norwood, RB-11909 (808) 896-0144 $180,000 285750 WAIPUNALE HOMESTEADS Rarely available oceanfront property. Over 9.5 acres overlooking Laupahoehoe Point - build the home of your dreams! Bob Hudspeth, RS-55464 (808) 896-3066 $999,999 601338 KOHANAIKI Three acres of privacy plus ocean views from this 3 bedroom, 3 bath home with a large covered lanai. Perfect elevation, and plenty of room to grow coffee, fruit trees, etc. Dylan Nonaka RS-64242 (808) 937-8382 $719,000 604022 KONA VIEW ESTATES 3 bedroom, 3.5 bath luxury home with 180 degree panoramic ocean views. Hawaiiana living at its best! Karen Ostlie, RS-60256 (808) 937-1174 $1,998,000 603614 LOKAHI MAKAI 2012 quality-built 3 bed / 2 bath home. Gourmet kitchen, large backyard & ocean views! Kona Carla Womack, RS-61019 (808) 896-6768 $534,900 291563 KONA PALISADES Coastline views from this wonderful 3 bedroom, 2 bath home with open-beam ceilings, a spacious, tiled lanai, fruit trees, and a fenced yard. Light and bright! Kona Carla Womack, RS-61019 (808) 896-6768 $525,000 604120 WAIMEA PARKSIDE 3 bedroom, 2.5 bath plantation-style home in prestigious Waimea Parkside. Top quality construction, and fully fenced and landscaped yard. Breathtaking! Kendall DiDonato, RS-74803 (808) 345-5212 $959,999 602070 • Maryl@Maryl.com KEAUHOU RESORT 1 bedroom, 1 bath condo in the beautiful Keauhou Resort complex at a great price! Karen Ostlie, RS-60256 (808) 937-1174 $209,000 295976 KONA HEAVENS Bring all offers! Kona Heavens beauty with panoramic ocean views. 3 bedrooms, 3.5 baths. An amazing opportunity to live in a wonderful neighborhood at a fantastic price! Karen Ostlie, RS-60256 (808) 937-1174 DeeJay Underwood, RS-26747 (808) 557-1383 $799,000 600875 KOLEA FARM 7.8 acres with coastline views, Kona coffee trees and tons of fruit trees. 2 bed / 1 bath home in gated community. Kona Carla Womack, RS-61019 (808) 896-6768 $796,500 294529 PRICE REDUCED MOTIVATED SELLER PRICE REDUCED PRICE REDUCED West Hawaii Real Estate | March 15, 2017 17 NAR finds barriers holding back prospective homebuyers Existing-home sales increased 3.8 percent to a 10-year high in 2016, but affordability pressures, student debt and possible confusion about down payment requirements prevented many aspiring homeowners from reaching the market, according to recent consumer insight from the National Association of Realtors®. NAR’s Aspiring Home Buyer Profile analyzed 2016 quarterly survey data from its Housing Opportunities and Market Experience (HOME) survey to capture movements in the housing expectations and sentiment of homeowners and nonhomeowners — both renters and those living with a family member. According to the findings, respondents last year maintained a favorable view about homeownership, with over 90 percent of homeowners and roughly eight out of 10 non-homeowners each quarter indicating that owning a home is part of their American Dream. However, despite these positive feelings, optimism about it being a good time to buy diminished among non-owners. The percent share who believed it was a good time to buy declined from 63 percent in the first quarter to 55 percent in the fourth quarter. The share of homeowners who thought it was a good time to buy also dipped as the year went on but hovered at a much higher rate of around 80 percent each quarter. Lawrence Yun, NAR chief economist, says the desire to own a home and the ability to do so are not on the same wavelengths for many households. “Nearly all non-homeowners said they want to own a home in the future (87 percent), but it’s evident that higher rents and home prices — up 41 percent in the past five years — along with limited entry-level supply and repaying student debt have combined to make buying a challenging goal,” he said. “It’s also little surprise that non-owners in the West — where price appreciation has been the strongest — were the least optimistic about buying.” Affordability and student debt presenting an uphill climb Being unable to afford to buy a home was the number one reason non-owners cited as to why they don’t own. For the entire year, over half of non-owners indicated they could not afford to buy, while roughly one-fifth of respondents said they needed the flexibility of renting. It’s also apparent from NAR’s analysis that carrying student debt is causing many non-owners to delay purchasing a home. Of the 39 percent of non-owners in the second quarter survey who said they have student debt, a majority indicated they are not very or not at all comfortable taking on a mortgage (59 percent). Yun says these findings align with a separate NAR study from last year that revealed nearly three-quarters of non-homeowners who are employed and repaying their student loans on time believe their debt is stymieing their ability to purchase a home, with slightly over half of borrowers expecting to be delayed by five or more years. “In addition to having to postpone important milestones such as getting married and starting a family, many young adults are financially falling behind previous generations in part because of having to prioritize repaying their sizeable student loans over buying a home and saving for retirement,” said Yun. Unrealistic expectations about down payments muddle views about getting a mortgage Apparent confusion about down payment requirements may also be behind non-owners’ lagging confidence about buying. NAR’s Profile of Home Buyers and Sellers has shown that the median down payment for first-time buyers has been 6 percent for three straight years and 14 percent for repeat buyers in three of the past four years. However, when asked about the amount of a down payment needed to purchase a home, a remarkable 87 percent of non-owners indicated that a down payment of 10 percent or more is necessary. “Current non-owners’ ultimate goal of owning a home may not be as far-fetched as they believe,” said NAR President William E. Brown, a Realtor from Alamo, California. “There are mortgage options available for creditworthy borrowers with manageable levels of debt and smaller down payments. Those interested in buying their first home in 2017 should review their finances, sit down with a lender to see if they qualify for a mortgage and find a Realtor to help them get started on their home search.”
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