Interest in home buying again - Hawaii News Now - KGMB and KHNL

Interest in home buying again

Jerame Cabiles Jerame Cabiles
Dan Tabori Dan Tabori
Leanna Cabiles Leanna Cabiles

By Paul Drewes bio | email

HONOLULU (KHNL) - After months of declining home sales on the islands, there is renewed interest in buying again. Low interest rates along with government tax credits have more checking out what is 'For Sale'.

Now one local company is trying to sweeten the deal for first time home buyers.

Jerame and Leanna Cabiles have been looking around for homes on Oahu's Windward side.

They haven't found the right one yet, but they do like what they see when it comes to interest rates.

"The economy took a downturn but interest rates also took a downturn. So it seemed like an opportune time to do it," said Jerame Cabiles.

Record low mortgage rates are helping to bring some buyers back to the market.

Along with a new buyer's credit that is part of the President's stimulus plan.

The government is giving $8,000 to 1st time home buyers but they won't see that money until next year's tax return. So in order to encourage sales, Prudential is offering to advance buyers that $8,000 now.

"What if we can advance it, no interest, to our clients today? To make it easier to get into a home," said Dan Tabori, the Executive Vice President of Prudential.

That idea sounds good to the Cabiles who have been scrimping and saving for a home of their own.

"It will help us, after we get in. We won't be eating cup of noodles - know what I mean?" said Jerame.

Along with checking out the homes, the Oahu couple also checked out a free seminar to answer questions about the new incentives, mortgage rates, and Prudential's own stimulus plan. Seminars that are becoming popular with other potential buyers.

"They're not sure if now is the right time to buy, people are on the fence. Through seminars like this we are trying to educate people so they understand why its a really good time for them to do it."

For Jerame and his wife, the seminar not only answered their questions, it also gave them the confidence to buy their first home.

"From the outside it looks intimidating, but once we were in there, once we participated in the seminar, it doesn't seem that hard," added Cabiles.

Prudential will be holding another educational seminar, Thursday, April 16th.

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