Kauai Vacant Land – time to buy??

“Vacant land is considered by lenders to be a higher risk for underwriting, along with adjustable rate mortgages, and lodging units,” explained Diego Lopez, owner of Global Mortgage in a recent interview.  His insights helped explain why land sales have been the flatest of all in the past year.  

With interest rates higher on land, and an increasing amount of downpayment required – you may want to take the approach one of my local clients.  Being a savvy investor and weathering through many market turns, my client refinanced his primary residence at 5% and is using the cash from his equity to buy land within the next 30 days.  As a cash buyer, he has the most powerful leverage when negotiating.  And the loan costs on his refi are much, much lower than any mortgage he could get to purchase the land.

Watch this video segment of my in-depth interview with Diego for some insights as to land loan trends and why it may be the best time to buy land on Kauai:

Diego Lopez, Global Mortgage
www.GlobalMortgagePartners.com
eMail: dlopez@globalmortgagepartners.com
Cell: 808 639-6008

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About Susanna "Susie" Kunkel, RA

With a belief that life is too short to not follow your dreams, Susie and her daughter became new Kauai residents in less than 4 months after visiting for the first time in 2000. She brings a wealth of information from her background in administrative, contract and paralegal work in a variety of industries including technology, investment banking, biotech and estate planning. As a Realtor, Susies's tenacious and technical approach have earned her a large group of extremely loyal clients. Susanna is a steadfast believer in "The Golden Rule", and applies it to her approach as a Realtor. "Each client and each property are unique, so it's important to me to listen intently to what my clients' goals are, and to make sure I go above and beyond to help meet them."
This entry was posted in Buying a home, Housing market, Kauai foreclosures, Kauai market updates, Kauai news, Selling your home and tagged , , , , , , , , , , , . Bookmark the permalink.

One Response to Kauai Vacant Land – time to buy??

  1. Deloattaine says:

    Hello, hello all
    I look forward to exchanging information with you all

    Now Is The Best Time To Get A Home Loan Or Refinance……Rates Are LOW…….
    Apply today for FHA Streamline Refinancing, a mortgage loan refinance or refinance with bad credit.
    Don’t miss out on historic low interest rates on home financing loans.

    VA Refinancinghttp://fhahomeloanapplication.com/images/fhastreamlinerefinance.gif

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