​There are a few possibilities we've come across:
1) Overpriced - some sellers list their property for more than what the comparables are showing and this can price out buyers especially if they expect a multiple offer situation. It might also not pop up on their search criteria if the price is out of their range.
2) Bad location - it can be hard to tell what a neighborhood looks/feels like just by looking at photos on the internet. Sometimes neighbors and the cleanliness of the area can play a factor in the sale as well.
3) Difficult to deal with sellers - some sellers have a price in mind they will accept and won't even counteroffer, negotiate, or compromise with any buyer requests. When there's no mutual agreement of terms then the deal is off!
4) Difficult to deal with agents - We've seen agents lose a deal for their clients by making promises they can't keep or even trying to force a seller or other agents to agree to their clients terms.
5) Tenant Occupied - most buyers are looking for a home to occupy themselves and if the sale is subject to keeping the existing lease then it may sit until the tenants are gone. Tenant occupied homes are also harder to show (coordinating schedules) and personal items can make it hard for buyers to look past the clutter and see the house.
Ambrocio Team: Ellie and Lauren
RB-23510 / RS-74989
ambrocioteam@gmail.com
Phone: (808)681-5021
Windward Properties
RB-22681

​1) Off island owners are not allowed to manage their own property, they must have an on island manager. The property manager must also reside on the same island as the rental.
2) Owners must pay a GET (General Excise Tax) on all gross income rent. You can apply for a GET number at https://tax.hawaii.gov/
3) Rentals less than 30 days are illegal unless you hold a special permit or structure your rental to abide by the timelines.

Our services include:
1) Writing up contracts and addenda (management agreement, rental agreement, house rules, vacating instructions, pet addendum if applicable, cleaning addendum, etc.)
2) Advertising your rental on the MLS and all over the internet.
3) Showing your property and screening interested tenants (verifying employment/income, credit check, rental history, criminal records).
4) Holding and disbursing security deposits and rent.
5) Setting up an online portal for owners and tenants separately for access to their documents, payment tracking, invoices for work to be done, etc.
6) Doing walk-through's of the property to assess any damage and make repair/maintanence recommendations, move-out tenants, prep properties for new move-ins.
7) Overseeing projects, working with our preferred list vendors, and verifying work has been completed with picture evidence.
Dealing with any lease violations, fines, emergency repairs, etc.
Our compensation is 10% of your monthly rent for all these services. Let us help make the process of managing your rental property streamlined with less stress!
Ambrocio Team: Ellie and Lauren
RB-23510 / RS-74989
ambrocioteam@gmail.com
Phone: (808)681-5021
Windward Properties
RB-22681
#windwardproperties #windwardside #windwardhomes #rentals #rentalmanagement #propertymanagement #hawaiipropertymanager #hawaiipropertymanagers #motherdaughterteam #Ateam #ambrocioteam #hawaiihomes

For those wondering what the current landlord tenant rules are including whether or not you can be evicted during this time, here is a helpful list of FAQ's 🤙🏼 and full details  https://cca.hawaii.gov/ocp/landlord_tenant/

Transcript Summarized

Lauren: Hi everybody, we are the Ambrocio Team and this is Ellie Ambrocio and I am Lauren Folsland.  Today I will be interviewing my business partner and lovely mama­­.  She’s been through a lot of seasons of Real Estate so I thought I’d pick her brain today about current Hawaii market conditions and predictions she has about how the market will change dealing with this pandemic. 
The first question I have for you is, how long have you been a Real Estate agent?

Ellie: I’ve been in Real Estate for about 25 years, Lauren was about 2 years old when I started.  I’ve been through a lot of ups and downs in my career and today we are seeing another one so we just want to give you some help and information so you can make the right decision about buying or selling your home.

Lauren: So when you talk about downs, can you talk a little more about that so we have a little background about your experience?

 Ellie: The one that comes to mind is the 2008 financial crisis. At that time people were borrowing money to buy houses they could not afford because they had stated income which is income they said they had but they couldn’t actually qualify for the loan.  (The banks) did the loans anyway and when the bubble burst which is when the people couldn’t pay or refinance their loans, when the balloon payment came or the loan came due they had to foreclose.  That’s when the bubble burst, for the housing market and the stock market. 

Lauren: Yeah so I personally don’t remember you being worried or stressed at that time, so what was your game plan or what were you doing during that time?

Ellie: Well basically, when we saw the market crash we found a lot of good deals and it just so happened that we had some cash on the side and we were able to go in and buy properties on fire sale to put it bluntly.  We were buying at the bottom of the market and people did not want to touch these properties.  Today we made at least 200 to 250% in return on our investments in just 9 years. So you buy when people are afraid and you sell when people are buying.  That’s when you make the most profit on your investments.

Lauren: Okay so let’s bring us back to present day.  What is the Hawaii market’s current situation as we are in the midst of the pandemic? What are you seeing?

Ellie:  Well the last 7 years we were coming off of the financial crisis so we’ve had an average return of 5% a year from 2011 to the present.  Now I’m seeing a slow down in the market, there’s more properties for sale and people right now are not really in a hurry to buy.  But there are some people who are buying because of the interest rate being low. So if you are able to buy, you still have your job, and if you do have money put aside to use as a down payment start looking for properties you’d like to buy and test out the market and see because you can negotiate prices. 

Lauren: Okay so I know a lot of people right now are concerned about maybe foreclosing.  Maybe right now they’re not in the position to buy but they’re scared right now that they might be having their houses foreclosed on.  Do you see that as a potential threat or possibility?

Ellie:  It’s always a possibility but at this point, I think the pandemic is not caused by an economic downturn but it’s caused by a virus and so I believe this is temporary and it’s not going to take as long to recover from it.  Like maybe if we find a solution like having a vaccine or some kind of medicine to treat the problem, then we will be able to go back to work and start buying things again.  I think right now, the short term interest rate is very close to zero and so the mortgage rates are below 3% for small loans so I think right now is a good time to start looking.

Lauren: So do you think that the interest rates will go even lower?  What’s the current interest rate and do you think there’s a possibility that it’ll go lower, or is this the bottom?

Ellie: It’s hard to say but I know the short term rates are close to negative, close to zero.  So I don’t think they’ll go negative because who’s going to loan you money at negative interest.  You don’t want people paying you to borrow, so I don’t think it’s going to go below zero.  But I think mortgage rates are probably going to stay below 3 for a while so take advantage of that because it doesn’t come too often.  If you look at the downturns during the depression in the 1930’s it tracks the financial market which is the DOW industrial average, and when it goes down that’s when the Real Estate market comes down too because there’s less people to have money to buy properties or that’s when they don’t have jobs.

Lauren: Let’s talk about then who would be a good candidate to be a buyer right now?

Ellie: People that still have jobs and people who have money on the side to put down as a down payment or if you serve in the military you can use your GI bill and you can have 100% financing and so you don’t have to worry about having a down payment, just money for closing costs.  Start looking because I think in the next few months we will be seeing a drop in the market and then that’s a good time to be buying so you have to start looking now because when that time comes you’re there you’re ready to go.  Get your pre-approval letter for the mortgage and you’re set to go.
​
Lauren: How about on the seller’s side, who is a good candidate to sell or do you even recommend that?

Ellie: I would think people that already have properties that they think they want to sell and upgrade to a better property, a better location perhaps, a better house in a better neighborhood.  Also people who have rental properties that want to buy multi dwellings so that way they can increase your cash flow because they have more tenants and then you can also afford more property because of the lower interest rate.  Eventually you can have enough tenants to give you positive cash flow and that’s the situation you want to be in so when the market turns around you will have equity in there, and you have people paying your mortgage.  It’ll give you the road to financial freedom.

Lauren: So a lot of good information to take forward and to see which boat you’re in.  So we are going to have to work towards wrapping up, so do you have any final advice, tips, or things to look out for everyone during this time in regards to Real Estate?

Ellie: Don’t be afraid, if you can do it, you have the means to do it, you have a job for example, you have money sitting aside, put it work.  Don’t be afraid; go in when people are afraid actually so you can get the good deals.  Then hang on to them so when the market recovers you will be very happy and you won’t have any regret for doing it, because I’ve never had any regret.  That’s what my advice is.

Lauren:  Well thank you for sharing today and again we are the Ambrocio Team, Ellie and Lauren.  You can find us online www.ambrocioteam.com on Facebook, or email us at ambrocioteam@gmail.com You can also contact us at cell phone number (808) 681-5021.  Thank you for joining us today we will be sharing more and let us know if there are any other topics you’d like us to discuss or questions.  We are open books and we look forward to helping you or working with you. Thanks guys, bye!

The first consideration in your buying or renting decision is often how much each will cost. 
Rent-versus-buy decision both have upsides and drawbacks as follows:
 
When renting a home, your monthly costs are generally fixed for the term of the lease.  However, renting will never result in property ownership (no equity).  When renting here are some considerations:
 
Advantages of Renting:

1. Lower upfront cost and paperwork
2. Freedom to be more mobile
3. Not responsible for maintenance, repairs, and property taxes
4. No need to worry about falling home values

 
Disadvantages of Renting:

1. Landlord can raise the rent or sell the property
2. Choices may be limited depending on vacancies
3. Might have to move multiple times with short notice
4. No tax benefits and no equity build up

 
Buying a home requires a down payment in most cases, between 3 percent to 20 percent of the home’s selling price (Veteran’s may get a loan with zero down).   You will also pay for closing cost averaging around 2 -4 percent of the home’s price.  When buying here are some considerations:
 
Advantages of Buying:

1. May build equity and eventually own the property
2.  No landlord to answer to
3. Possible tax benefits: property taxes and interest payments are deductible for income tax purposes in most cases.
4. More stability:  you do not have to move unless you choose to move.
5. You can improve or upgrade your home at anytime.

 
Disadvantages of Buying:
    1. Requires more money upfront.
    2. Extra expenses beyond mortgage payments such as property taxes
    3. Responsible for repairs
    4. Could lose money if home values decline

My family’s many years of experience buying a home has been very rewarding despite all the challenges.  We started out buying the least expensive house in a great location and moved 4 times.  By building equity, we were able to trade up to our dream house and have a place we call home.  Contact us today and we would be happy to walk you through the process.  We promise we will not disappoint you.

Ambrocio Team
Ellie & Lauren 
ambrocioteam@gmail.com

We took the pledge to ask our clients "Did you serve?" via didyouserve.org in an effort to better serve our military ohana and make sure they are aware of their unique home buying benefits and how to utilize them.

1. Consult with your Real Estate Agent
   1. Is it a good time for you to buy?  What are your needs/wants?
2. Loan Application, Prequalification/Preapproval
   1. How much can you afford? See previous blog post for more info
3. House hunting time!
4. Realtor writes up your offer (contract) and delivers to Seller
5. Counter Offer & Negotiation (if necessary)
6. Open Escrow, title report clearance
7. Survey, Appraisal, Termite, Etc.
8. Physical Home Inspection
9. Final Walk Through
10. Close/Record

Call us to get started today! 
Ambrocio Team Phone: (808) 681-5021

Yes!  Pre-approval is the first step to determining exactly how much you can afford.  It's exciting to jump right into previewing homes but if you don't know what you can actually afford you might be wasting your time.  So before you do anything else, have your Realtor ask a trusted loan officer to start the pre-approval process.  Or you can research your own loan officer.

It might be a good idea to wait on getting a pre-approval if you are not serious about buying a house because you might need to get a new one if too much time passes and it needs to be updated.  

Also keep in mind you might want to wait if you know you are getting a raise, changing jobs, paying off loans, etc so you can qualify for more.

Happy house hunting!

Ambrocio Team
​Ellie & Lauren 
Phone: (808) 681-5021