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Joanne Foxxe

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joanne foxxe, kapalua realty co ltd, maui, hawaii, top 100 realtor 2016, 2017

Joanne is honored and humbled to receive this highest accomplishment. She moved to Maui in 2005 and started at Kapalua Realty in 2006. She moved from Santa Cruz County where she has been a Realtor since 1986 and CRS since 1989. She was the President of the Northern Ca CRS Chapter in 2005, then the Maui director since 2006.
Her focus is the Westside of Maui and more specifically the Kapalua Resort; however she does work all over the island by referral. Joanne is blessed to have a wonderful support team and clients.



 

JOANNE FOXXE
CRS, GRI,RSPS, #RS63115
Kapalua Realty
700 Office Road
Lahaina, Hi 96761
808-385-2918
www.joannefoxxe.com

 

Another great reason to own real estate

by Joanne Foxxe

Lower the Rate - Deduct the Interest

Credit card debt in America is back to levels prior to the recession. The average credit card APR is just under 16% according to CreditCards.com Weekly Credit Card Report.  

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Homeowners have an advantage over renters when it comes to getting their arms around debt issues.

 

Basic money management suggests that higher rate debt be replaced with lower rate debt. Credit cards, personal cars, boats, motor vehicles and other personal property, typically have interest rates higher than that of real estate loans.

Borrowing against a person’s home usually provides the lowest rate of financing. Refinancing a home mortgage to take cash out to retire personal debt is one option. Another would be to secure a home equity or HELOC, home equity line of credit.

An alternative advantage of borrowing against one’s home is that the interest may be tax deductible unlike the interest on most personal debt. Qualified mortgage interest includes acquisition debt which can only be used to buy, build or improve a principal residence and up to $100,000 of home equity debt which can be used for any purpose.

Managing money is a critical life skill that people need to master. While the goal may be to become debt-free, paying the least amount of interest possible can be a good first step. Owning a home provides an asset that allows for options not available to tenants. Seek professional advice to determine your best course of action.

 

Why a rental is a sound financial plan

by Joanne Foxxe

Rentals are IDEAL

Rental homes are the IDEAL investment because they offer a higher rate of return than other investments without the volatility of the stock market. With certificates of deposit and bonds at less than 2%, people need an alternative investment that they understand and with a reasonable amount of control.

In this case, IDEAL is an acronym identifying the advantages of rental properties.

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  • Income from the monthly rent contributes to paying the expenses and a return on the investment.
  • Depreciation is a non-cash deduction that shelters income for some investors.
  • Equity buildup occurs with amortized mortgages because each payment is composed of interest owed and principal reduction to retire the loan by the end of the term.
  • Appreciation is achieved as the value of the property goes up.
  • Leverage can increase the return on investment by using borrowed funds to control a larger asset.

These individual benefits working together make rental real estate a good investment for today’s economy. Increased rents, high rental demand, good values and low, non-owner occupied mortgage rates contribute to positive cash flows and very favorable rates of return.  

To find out more about how rentals might complement your current investment plans, contact your real estate professional.

 

New/Old Loan Options

by Joanne Foxxe
 

Save the Cost of Mortgage Insurance

During the banking crisis in the Great Recession, certain types of mortgages were unavailable that are once again being offered. Fortunately, the 80-10-10 mortgage is one of those making a reappearance and it can save borrowers a considerable amount of money. 

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The objective of an 80-10-10 mortgage is to avoid the expense of mortgage insurance for buyers wanting a 90% loan. A buyer can obtain an 80% first mortgage and a 10% second mortgage with a 10% down payment and not be required to have private mortgage insurance. 

For example, a buyer could put $30,000 down on a home priced at $300,000 and get an 80% first mortgage without mortgage insurance. The borrower could get a second mortgage, either through the same lender or a third party.

In the example, the 80-10-10 would save a buyer $193.71 per month which can be a considerable amount of money over a ten-year period. The interest rate on the second loan will be higher than the first because there is more risk. 

Helping buyers make better choices is a valuable service real estate professionals can provide. Having the right tools and information can make the decisions easier to understand. Using an 80-10-10 calculator, you can see what the savings might be for your situation.

MARCH MONDAY

by Joanne Foxxe

 

What a beautiful MONDAY on MAUI! The sky is blue. Our treasured tradewinds are blowing.

We are getting new neighbors here at Kapalua Realty. Napili Florist is moving in!!! Just in time for Easter.

We are excited to have a new neighbor. The flowers are so beautiful. 

I can't believe it is almost April!!  The market here at the resort is plugging along. We are seeing buyers purchasing at great pricing. If you are here at eh resort, we have properties for sale in every development. You would not know, as the resort does not allow signage.

 

PLEASE feel free to stop in or of course email me for more information regarding any property.

 

Estate planning

by Joanne Foxxe

 

It is TAX time. This time of year is anxiety producing for me. I remember my dad also being anxious at this time of year. I think self employed people have more work to do to prepare for tax season.

An estate plan is also very important for you and your family. There is a collection of documents that are needed to ensure that your wishes are carried out upon your passing. I will never forget the line"It is important to die correctly"

It is also important should you become incapacitated. Wills, trusts, durable power of attorney, healthcare proxy, and a living will are all documents that each one of us of a certain age should have. A general letter of instruction to your family is also a good place to start. Every state has their own estate laws.It is very important to consult with an attorney. Should you move to a different state, please get your documents updated in the new state.

If you need an estimate of value on your real estate, please contact me. It would be my privilege to assist you with this at no cost or obligation. Usually a price opinion from a licensed real estate professional will suffice for tax planning,

 

 

 

 

 

 

 

Certified Residential Specialist Realtor ~ Joanne Foxxe

by Joanne Foxxe

Rain comes to KAPALUA

by Joanne Foxxe

 

It is a lovely blustery day here at the resort. WE have had a dry winter, and am relishing the rain and coolness of temperature. I know and understand the visitors to the island want SUN!! I started the morning today with a Yogalates class at the Montage Spa at Kapalua Bay. The rain was gentle  but the rainbow was HUGE!! I fell truly blessed to be on MAUI enjoying the magic and the beauty of nature


The activity at our resort regarding real estate has picked up immensely in the second quarter.

This is the first time I have a Bay Villa, a Ridge Villa and a Gofl Villa in escrow at the same time.

They should all be closed by the end of the month. We will then have new markers for future pricing. We have one pending in the Plantation Estates in the $6 m arena, and 4 pending sales in Pineapple Hill.

This is great news for the resort.If you are thinking of buying or selling, now is a GREAT time.

The resort just opened a new Restaurant, Taverna. It is urban/Italian and delicious.http://taverna.com

 

 

 

 

 

 

 

 

Should I Buy a Home Now?

by Joanne Foxxe

I'm often asked if this is a good time to buy a home. Some clients are concerned that home prices may fall down the road, while others are convinced that home prices will go up.

Home prices are one factor in determining your cost of ownership, but so are interest rates and financing availability. Even though interest rates have fluctuated, they are still near historic lows. Since your monthly mortgage payment is a combination of paying down your principal and paying the interest owed, a one point rise in interest rates could cost tens of thousands of dollars over the life of your mortgage!

While a home is a major investment, it is also the center of your personal life. It's important to live in a home that reflects your taste and values, yet is within your financial "comfort zone." To that end, it may be more important to lock in today's relatively low interest rates while they are still available.

Please give me a call if I can be of any assistance in determining how much home you can afford in today's market.

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Joanne Foxxe
Kapalua Realty
700 Office Road
Lahaina HI 96761
(808)665-3761