Laurie Lowson and granddaughter Daisy Queirolo ride the Economic Wave at the Realtors Association of Maui Installation Luncheon.

At the annual installation banquet of the Realtors Association of Maui (RAM), Laurie Lowson, R (B), was named Realtor of the Year.

Every year, the award is given by past recipients to the realtor who serves the association as well as the community. A past president of RAM and the current treasurer, Laurie has held numerous positions with RAM and the Hawaii Association of Realtors.

On the national level, Laurie served on the Resort and Second Home Forum, and she is currently RPAC Major Donor Whip along with her husband, Mac Lowson. 

The theme of the luncheon held at the Maui Tropical Plantation was “Riding the Economic Wave,” which realtors, as well as their clients, family and friends, are currently doing.

Margit Tolman won Realtor Salesperson of the Year. Mercy Palmer with Fidelity National Title won Affiliate of the Year at the event.

According to national statistics, real estate sales numbers  are improving, especially in the lower priced properties. If you have been on the sidelines waiting to get back into the market, it is time to begin your search in earnest. Interest rates remain low, the first-time buyer credit of up to $8,000 is still in effect until the end of November — both are great incentives to purchase.

There is still a considerable amount of inventory to choose from, even on West Maui. To speed up the purchasing process, be pre-qualified with a local lender and learn the ins and outs of getting a mortgage in today’s complicated financial world.

The number one type of seller to look for is a realistic, motivated seller. You and your realtor will be negotiating with a seller who understands the market. A slightly more difficult transaction is the purchase of a REO property. This is a bank owned property. You will be dealing with a bank, which will most likely provide no disclosure, no warranty, no documentation, no TIR and no survey.  Therefore, buyers of a REO need to actively participate with their realtor to make sure that the due diligence is complete.

The most difficult purchase is a “short sale,” which in reality, is a very long, trying way to purchase a property. A

“short sale” means the seller will be shorting the lender, which the lender has to agree to prior to there actually being an escrow. This process can take from three to ten months. Lenders are not readily willing to walk away from a guaranteed loan; the property may be listed below what the lender will accept as a final payoff.

Please feel free to call or e-mail Laurie Lowson, R (B), at (808) 276-8001 or Laurie@Lowson.com. Search Maui listings at www.Lowson.com.