In July of this year President Bush signed a bill that Congress created to provde incentive for first-time homebuyers. Following are some of the basics. See if you qualify!

1. A maximum credit of $7,500 may be eligible to "first-time homebuyers",  which is defined as someone who has not had an ownership interest in a principal residence in the previous three years. The 3-year period is measured as the date of the purchase of the eligible principal residence.
2. There is an income restriction to qualify. If your Form 1040 filing status is Single, you are eligible for the credit if your income does not exceed $75,000. Joint returns may have income of no more than $150,000.
3.  Also, the credit is tied to the price of the home. It is for 10% of the cost of the home. The maximum allowed is $7,500, but if a home cost $65,000 then your credit would be $6,500.
4. The property must be located in the United States.
5. This tax incentive must be paid back, unlike other tax credits. If you are eligible and claim this credit on your tax return, then you must pay it back over the next 15 years. Payment amount will be 6.67% of the credit amount each year. For example, for the $7,500 credit you will repay $502.50 each year. There are no interest charges on outstanding balances.
6. If you sell your home before the 15-year repayment is complete, then it will be due in the year of the sale.
7. If there is no gain on the sale of the home, then the liability will be forgiven.
8. Go to Government Affairs Update for more information about this wonderful tax credit.

For more information about Kapolei Real Estate please contact John Riggins.

Come and view this three bedroom, one bathroom Single Family Property located at 84-643 Manuku Street in Waianae.

This Single Family Property is located in the Leeward area, Makaha neighborhood and has approximately 0.06 acres with a lot that boasts 2,600 square feet. Built in 1979 this Three Bedroom, One Bathroom Home has a hill/mountain view. It is single story with a carport and one open parking space. The interior features include ceiling fan, chandelier, dishwasher, disposal, microwave oven, range and oven, wall or window air conditioning, window treatments and will be sold partially furnished. It is part of the Makaha Elementary School District and the Junior High School and High School is Waianae. Exterior features include landscaping, wall/fence, while cable TV is available. The exterior construction is Single Wall, Wood Frame.  

For more information about this listing or other area properties please contact John Riggins.

It is unbelievable that this marvelously refurbished four bedroom and two and a half bathroom home is available in pre-foreclosure.  Located at 911011A Kanehoalani Street in Kapolei, it has a crisp, new paint job with 1,679 square feet on 0.07 acres. What is so special about this two-story house other than its large, fenced in backyard is that it is located within walking distance to the recreation center, parks and all Kapolei schools. Great gas savings; something to think about!!!! Please take note that there is also VA/FHA Financing Available. 

 This property has the following features:

• Located in Ewaplain neighborhood of Kapolei-Kekuilani
• House built in 1994
• Has a Family Room
• Garage
• 2 open parking spaces
• Ceramic tile floors
• Ceiling Fans
• Clothes dryer and Clothes washer
• Dishwasher and Microwave
• Range and Oven
• Split Air Conditioning
• Window Treatments
• Partially Furnished
• Lovely landscaping (see picture)
• Patio and Fence
• Cable TV available
• Concrete construction with Double wall and Slab Foundation with a Wood Frame 
• Hill/Mountain View

For more information on this listing please contact John Riggins.

Kapolei is growing rapidly and following is a list to illustrate all of the exciting projects that will bring an additional 6,000 jobs to the area. These projects include government, office, residental and retail communities.

• Costco Warehouse and Gas Station: opposite Home Depot. Will open Spring 2009.
• Crossroads At Kapolei: Retail center across from Kapolei Entertainment Center. Will open November 2008.
• Hawaii Self Storage: Will open summer 2008.
• Kapolei City Plaza: two-tower office/retail complex next to Island Pacific Academy. Construction begins 2009.
• Kapolei Commons: Open air shopping mall including Target, across from Honolulu Advertiser. Opens Spring 2009.
• Kapolei Court Complex: Will contain Family Court, Waianae District Court and juvenile detention center. Next to Costco. Opens Spring 2010.
• Kapolei Pacific Center: Two office towers with a retail ground floor. Located across from the Kapolei Library. Opens 2009. 
• Kapolei Promenade: Planned retail complex. Across from Hawaiian Waters Adventure Park. Currently undergoing subdivision.
• Kapolei Village Center: Community shopping center will be close to the planned Mehana Residential Community. Opens 2010.
• Leihano Active Adult and Continuing Care Community: next to Kapolei Regional Park. Project will begin in 2009.
• Maryl Group Retail Complex: across from Kapolei Hale. Currently in planning stages.
• Mehana at Kapolei: a master planned mixed-use residential community. Located along southern border of Kapolei. Will be completed in 2015.

For more information about Kapolei Real Estate please contact John Riggins.

Attention Kapolei motorists!

Improvements to Kalaeloa Boulevard from H-1 to Malakole Street at Campbell Industrial Park is set to commence the week of July 7th. It will all be worth it when it is finished in 2010, as this project will enhance access to the major job center. These enhancements include rebuilding and widening Kalaeola Boulevard from four to six lanes.

Phase 1, which will be completed by Spring 2009,  takes place at Kalaeloa and Kapolei Parkway, and Kalaeloa Boulevard between H-1 Palailai Interchange and the railroad tracks in both directions. The goal is to keep two lanes of traffic going mauka and two lanes going makai by re-routing traffic through temporary lanes. Beware there may be times that one-lane closures occur and safety precautions may include reduced speed through construction zones. For your own safety drivers are being advised to expect delays and find alternate routes. Following are two options:

In the morning, Kapolei-bound drivers from Honolulu who use Palailai Interchange Exit 1 (Campbell Industrial Park) to go to the State Office Building or Home Depot along Kamokila Boulevard can use Makakilo Interchange Exit 2 and access Kamokila Boulevard by way of Kamaaha and Manawai Streets. If you are coming from Waianae and use the Palailai Interchange Exit 1 you may take Exit 1B (Makakilo/Kapolei/Kalaeloa) which will take you to the intersection by the Kapolei Police Station.

In the afternoon, Honolulu-bound drivers leaving Kapolei can use the Makakilo Interchange by way of Manawai and Kamaaha Streets and Fort Barrette Road. Waianae-bound drivers leaving Kapolei can use the Palailai Interchange by way of Farrington Highway by the Kapolei Police Station and Hawaiian Waters Adventure Park.

 For more information about Kapolei real estate contact John Riggins.

Happily ever after really does exist! It took just $1 during the exchange between James Campbell Co., private landowner, and the nonprofit Hawaii Agriculture Research center for the sale of the 119-acre Kunia Plantation Village. Ever since Del Monte Plantation ceased its pineapple operation in 2006, many agricultural workers futures were uncertain. That’s where James Campbell Co. enters the picture.

In the deal, Hawaii Agriculture Center has agreed to maintain the plantation homes as affordable rentals for the agricultural workers and retirees. James Campbell Co. benefits by counting these 115 homes towards its 1,230 quota of affordable housing units in the planned Makaiwa Hills residental development.
In addition, James Campbell Co. will pay $1 million in improvements to the village’s fire safety infrastructure including donating 1.5 acres of land for a new fire station. The deal also stipulates that the company will donate 20 acres of land towards rail transit development, and will begin construction of two day-care centers on 2 acres of land.

In addition to the Makaiwa Hills residental development, James Campbell Co. plans also include the Kapolei West Residential development of 2,400 homes, 720 of which will be affordable housing and Kapolei Harborside, a light industrial and business park which will bring additional roads to improve access in the area.

For more information about Kapolei real estate contact John Riggins.

Pre-Foreclosure sale for the perfect single family home!

This is a newly remodeled and freshly painted 4 bedroom 2.5 bath single family home within walking distance to the recreation center, parks and schools. Click for direct webpage

Current Price: 475,000

Located at: 911011A Kanehoalani St. Kapolei, HI 96707

• Single Family Property
• Status: Active
• Area: Ewaplain 
• Year Built: 1994 
•   Approximately 1679 sq. ft.
• Two story 
• Family room
• 2 open parking space(s)
• Garage
• Interior features: Ceiling fan(s), Clothes dryer, Clothes washer, Dishwasher, Microwave oven, Range and oven, Split air conditioning, Window treatments, Partially furnished 
• Exterior features: Landscaping, Patio/deck, Wall/fence, TV cable available, Garden view, Neighborhood: KAPOLEI-KEKUILANI 
• Exterior construction: Concrete, Double wall, Slab foundation, Wood frame
• Big fenced backyard 
• Hill/mountain view
• Lot is 2870 sq. ft.
• Approximately 0.06 acre(s)
• Schools: Elementary School: Kapolei, Jr. High School: Kapolei, High School: Kapolei 

 Contact John Riggins to be your Real Estate guide for this property!

Home sales and prices are not slowing down in two large Oahu retirement communities; one of the communities will be the state’s largest. 15 Craigside in Nuuanu and LLima at Leihano in Kapolei have enough reservations to start construction.

A balanced local population and the always-thriving Hawaii Real Estate market have helped the continuation of these two long-planned retirement community projects.  And there is a need for for it!

Hawai’i’s population of 65-and-older residents has increased 1.9 percent annually since 2000.  Hawaii ranked 75th nationally in residents 65 and older.

"Even though it’s a rough time, it’s not so rough," said Emmett White, CEO of Craigside Retirement Residence, the nonprofit developer of the Nu’uanu project. "It’s still a marketable need."

Call John Riggins for Honolulu Real Estate!

Jeff Stone wants to share his tax credits for Kapolei real estate development

Jeff Stone is well-known in Kapolei real estate as the master developer at Ko Olina Resort. He is receiving millions in tax credits for his work in Kapolei real estate development. Now, though, he says that he wants a portion of his tax credits to go toward affordable housing.

For more on Kapolei real estate news, contact John Riggins.

Kapolei could help stabilize the economy of the entire state

One of the big pieces of Kapolei real estate news has been the ongoing efforts to develop Kapolei into an urban center — Oahu’s Second City. This is offering a variety of opportunities, according to Leroy Laney, a local economist who spoke to the Kapolei Chamber of Commerce earlier this month. The Honolulu Advertiser reports on the prospects for Kapolei real estate:

Many projects, including the Kapolei road projects, are expected to help Kapolei’s future development move ahead.

For more on Kapolei real estate and more, contact John Riggins.