This is how I feel! I passed my final inspection yesterday on a wrap around porch I've been working on for far too long. The County imposed a new deadline on getting open permits closed (without regard to the supply issues we're all facing, thanks, County!) and I made it in time!
* Nationally, mortgage applications are down 18% compared to a year ago. A conforming loan dipped slightly to 5.74%. Inventory/active listings are up 18.7%. Re-Financing is down 83% compared to a year ago. While FED rates rise, mortgage lenders' fixed interest rates are closely tied to bond rates. Low yields on government bonds mean low rates on fixed rate mortgages and vice versa. When bond yields decline, fixed mortgage rates also come down – a direct relationship. Pending home sales declined by 20%. (CNBC)
* Over 28 percent of American households today are made up of single people living alone, and it’s anticipated that up to 85 percent of all US households will not include children by the year 2025. Finally, by 2030 one in five Americans will be over the age of 65. Matthew Gardner, Inman, June 30, 2022.
* Total housing inventory registered at the end of June was 1.26 M units, an increase of 9.6% from May and a 2.4% rise from June 2021 (1.23 million). Unsold inventory sits at a 3-month supply at current sales pace, up from 2.6 months in May and 2.5 months in June ’21. A healthy, balanced supply is around 1.52-1.93 million units. (Housingwire)
* Mortgage points are fees borrowers pay to a lender in exchange for a reduced interest rate. Each point equals 1% of the total loan amount. For a $200,000 loan taking into account principal and interest only: With zero points and an APR of 4.5%, the monthly payment would be approx $1,013. With one point, the buyer pays $2,000 for an APR of 4.25% and a monthly payment of $984..Total savings on a 30-year-loan would be $10,616, if the buyer owns the home for the full term and doesn’t refinance. With 2 points, the buyer pays $4,000 for an APR of 4% and a monthly payment of $955. The total savings on that loan would be $21,07, again assuming the buyer owns the home for the full 30 years without refinancing.
, learn from the masters! You will be delighted by the experience of making your own, very delicious tea, from the charming proprietors of Big Island Tea! For more information
Waimea Midweek Farmers Market
Kahilu Theater shows and exhibits.
Always worth keeping on eye on
Last month's giveaway was popular! This month, I'll give the first 3 people who ask a bag of Waimea Herb Company Mamaki and Peppermint Tea, from Tea Blossom Flowers and Gifts.
Chris Reed. Welder, Trailer Fabrication and Repair, and Photographer!
Chris is a fixer. He's been welding for more than 30 years, and has fabricated, restored, and repaired many trailers over that time. He's also an excellent photographer, and has shown his work in local exhibits. For some of his photos,
click here. You can reach Chris and his wife, Connie, at (808)895-1083 or firstname.lastname@example.org.
Tea Blossom Flowers and Gifts
his place is amazing! In the KTA shopping center in Waimea, where Paniolo Express used to be. Absolutely stunning arrangements, lovely gifts with a botanical theme, and a flower bar up front. And it smells so good! Stop by and meet Laura and Rosa-you will love them and this wonderful
Haven't tried this, but it looks great!
Affordable Housing in Hawaii County
An update! The County Council overrode the Mayor's veto of the bill to expand the ways in which the County can increase affordable housing. Go Council!
Almost daily I see homes moldering, overgrown, and perhaps beyond repair. We need a system to ensure that housing does not become uninhabitable as a result of neglect! We all benefit if we have enough housing for all residents of the Big Island.
If we could cut waste, we could make housing more affordable.
As I watch my construction site I am amazed at the shocking amount of waste. There is an enormous opportunity in this arena to bring down costs and speed up the process while also making structures much less polluting.
Here are some exciting new products in the building world.
Some areas are still experiencing strong sellers markets. Others not so much. There are more price drops, and properties are sitting on the market a little longer. Nothing dramatic, though. Many properties are still flying off the market. Here are the latest stats:
That's all for this month. I hope you have a fantastic August!
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