Historic Time to Buy on Kauai, HI – Lowest Interest Rates in 50 Years
When discussing real estate on Kauai, many buyers I speak with are interested in buying the nicest, lowest priced home for the lowest interest rate possible. Many people are waiting for the “bottom to hit” to insure that they pay the best price and best rate for their piece of paradise, but what if the bottom has already hit?
Historical mortgage graph courtesy of Old Republic Title Company (www.ortc.com)
According to the loan officers that I work with and BankRate.com, these are historic times we are living in, and the national mortgage rate is at an all time low. This is excellent news for people who have been waiting for the “right time” to buy their piece of paradise and finally own a home or land on the idyllic island of Kauai, Hi.
According to a recent article from www.BankRate.com, “This might be the low…another reason to act now, instead of waiting, is that lenders keep tightening their standards—and, at the same time, house prices are falling. The combination of more stringent lending and falling prices can push homeowners out of the category of people who are eligible for loans and into the category of people who are ineligible.”
This is excellent news for those of you who are waiting for the “green light” to go ahead and make a move on the home or land you have dreamed about. As I have posted previously, it is my professional and personal opinion that purchasing a home and land on Kauai is one of the most sustainable, long-term investments.
With interest rates being as low as they are, there are ways to make your investment work for you and even make a healthy yearly profit, like owning an active vacation rental on Kauai that already has year-round bookings. So, if the experts are saying this is an excellent time to buy…what are you waiting for?
Please contact me today for more information about current homes and land on Kauai that are in your price range.
Mahana Dunn, (RA)