Message from the Builder

Aloha and welcome to the Summer edition of the Coun-try Courier. As Sea Country continues to grow, we’d like to take this opportunity to give you a quick community update: Kaimalino (Area 3) continues to sell and families have al-ready begun moving into their new single family and duet homes. Holomoana (Area 4) started selling 100 single family and duplex condominium homes this past April. Families hope to start moving in later this year. Site work for Wailana (Area 5) is scheduled to start in June and will continue until January. At that point, con-struction for the 87 homes is scheduled to begin. Also schedule for June is the construction start for Sea Country Club. This recrea-tional center will feature a swimming pool that can be used by all residents for baby luaus, graduation parties, or a weekend of summer fun. Other community updates of what Sea Country employees and residents are doing are mentioned in this edition of the Country Courier. Please take a few minutes to read through this newsletter and have a safe and enjoyable summer!

Mike Jones Division President

Summer 2005; Volume 2, Issue 2

D.R. Horton, Schuler Division recently spon-sored a Home Ownership Seminar for first time buyers on Saturday, April 2, 2005. At this free seminar the Hawai‘i HomeOwnership Center walked attendees through the home buying proc-ess and DHI Mortgage explained the different loan programs available to first time buyers. A representative from the HomeOwnership Cen-ter shared her own story about how she went from welfare to home ownership in just a few years. She also outlined the HomeOwnership Center courses that educate and assist people in the home buying process and directed them to www.hihomeownership.org for more informa-tion. “The attendees were people who rent or live at home and they were surprised to find that they could afford a monthly mortgage” explained Mary K. Flood, D.R. Horton Vice President of Sales and Marketing. “Once they started to un-derstand the process and the different resources available to them, they got excited and wanted to get started right away” she continued. Committed to providing affordably priced homes to local families, D.R. Horton sponsored the event at their Sea Country Sales Office. Sea Country is a master planned development that

features seven new communities. The develop-ment will offer amenities such as: the 11 acre Ma‘ili Kai Park; The Shops at Sea County Com-mercial Center; Keki Country Day Care Center; and the Sea Country Club Recreational Center. Sea Country offers some of the most affordable single family homes on O‘ahu with prices start-ing in the low $300,000’s. All buyers are re-quired to sign an Owner Occupant Affidavit, promising to live in the home for at least a year. This affidavit protects the community from be-ing bought out by investors and keeps home prices affordable.

D.R. Horton Sponsors Home Owner Seminar

Feeding Hawai`i’s Hungry

D.R. Horton, Schuler Division raised over 700 lbs of food and almost $6,000 for the Hawaii Food Bank’s 16th Annual Food Drive this past April. Sea Country sales secretary Keala Fuiava used her free time to solicit donations and round up company volunteers for this annual event. D.R. Horton volunteers participated by sign waving, fish-net food collecting, food sorting, and other various jobs at their Mililani Town Center location. Other stations were set up across O‘ahu that day and helped to raise donations to feed Hawai‘i’s hungry children, elderly, homeless, disabled and low-income working families. Sea Country continues to accept Food Bank donations throughout the year at their sales office. For more information, contact sales

secretary Keala Fuiava at (808) 668-9088 or visit www.hawaiifoodbank.org.

Sea Country Sales Manager Cis George (left) and Hawai`i HomeOwnership Homebuyer Counselor Lehua Rosa Malott (right) coach first-time buyers at seminar.

D.R. Horton employees and their families participated in the April 16 Annual Food Drive

828 Fort Street Mall; Fourth Floor Honolulu, Hawai،i 96813

Ma‘ili Resale Update Kassie Rogers, former Sea Country sales representative, recently moved to D.R. Horton’s Resale Service Office. There, she has been busy helping owners sell their existing home and buy a new one for a 5% fee. Below is a listing of the homes that recently sold at Ma‘ili. If you are interested in selling your home, or just want to find out its current value, contact Kassie Rogers at 927-4068 or krogers@drhorton.com.

Sold !

Address Bedroom Bathroom Living Area Price

87-1004 Nenewai St. 3 2 1,363 $420,000 87-1008 Oheohe St. 4 3 1,900 $550,000 87-1012 Oheohe St. 3 3 1,428 $386,871 87-1016 Oheohe St. 3 2 1,428 $369,418 87-1038 Oheohe St. 3 3 1,428 $330,000 87-1058 Oheohe St. 4 3 1,900 $550,000 87-1083 Oheohe St. 3 2 1,237 $405,000 87-1084 Huamoa St. 3 2 1,153 $406,000

87-109 Kulapa Pl. 3 2.5 1,137 $300,000 87-1106 Oheohe St. 3 3 1,154 $425,000 87-162 Kulahanai Pl. 3 2.5 1,137 $320,000 87-177 Kulahanai Pl. 3 2.5 1,137 $320,000 87-320 Kulahanai St. 3 2.5 1,137 $294,900 87-397 Kulawae St. 2 2 954 $254,900

87-821 Helekula Way 5 3 1,537 $365,000

All Emergencies……………………………………………...911 Hawaiiana Management Company, Ltd ……………593-9100 D.R. Horton, Schuler Division Central Warranty……...674-9770 Sea Country Sales Center……………………………...668-9088 Satellite City Hall - Farrington Office.………….……..696-6371 US Postal Service - Farrington Office………………....696-0161 Humane Society………………………….…………….946-2178

The Sea Country Board of Directors met on April 29, 2005 and addressed some community concerns including parking, wild dogs, and pets. Street Parking Sea Country’s roads were designed to designed narrow to help reduce speeding. When vehicles park on the street, they restrict

access of emergency vans, refuse trucks, and other service vehicles. By a unanimous vote, the Board has decided to begin random towing of illegally parked vehicles effective August 1, 2005. Any charges for towing will be paid by the vehicle owner and NOT the Association. Please remember to observe all no parking signs.

Wild Dogs Wild dogs have been reported in the community creating safety issues for owners and their pets. The Board notified residents by mail of their decision to have the Humane Society install trap cages in hopes of capturing the wild dogs that have been reported in the neighborhood. Please be aware of and stay clear of these cages.

Pets Pets are part of many Sea Country families, and owners often enjoy walking their dogs around the neighborhood. Recently, there have been complaints about people allowing their dogs to use the grass strips by the mail boxes. Owners are reminded that this is your neighbors property and not Common Area. Please pick up after your dogs when walking through the neighborhood and help keep Sea Country clean. Next Meeting The next Board of Directors Meeting is scheduled for July 29, 2005 at 12:00 noon at the Sea Country Sales Office. A reminder notice will be posted at the Sales Office.

Cis George Named 2005 Parade of Homes Chair

Sea Country sales manager Cis George was recently named 2005 Chair for the BIA Parade of Homes. Planned for October 1, 2 and 8, 9, this annual event will once again showcase the latest trends and technology in new home construction. Holomoana’s model homes are now under construction and will possibly be entered into this year’s Parade of Homes. All entrants will

be judged by seven industry professionals in the areas of building, architecture, real estate, appraisal, interior design, landscaping and finance. Winners will be announced at the Awards Banquet this September. For more information, contact Cis George a t 668-9088 or v is i t www.paradeofhomeshawaii.com.

The Moana

Palekai at Sea Country

Winner of the 2003 Parade of Homes

Division II Award & Home Ownership Award

Cis George Sales Manager

D.R. Horton’s affiliated lender DHI Mortgage offers hundreds of programs at any given time. One of the of the more popular spe-cialty programs is the “No Closing Cost Loan”. Here’s how it works: If the market rate of a 30 year fixed rate mortgage is 6.50%, and the lender delivers to the investor a loan with a higher than mar-ket rate; the lender earns a premium on that loan. That premium can be used to pay all or a portion of your closing costs and pre-paid expenses. For example, let’s say you’re getting a mortgage of $150,000. At the rate of 6.50% on a 30 year fixed rate loan, the principal and interest rate would be $993 a month. Normal closing costs on a loan that size will vary somewhat from market to market, but a reasonable average would be around $3,200. On a “No Closing Cost” loan, the interest rate would be 7.00%. At that rate the principal and interest payment would be $1,039, but the closing costs would be zero. So the trade off is $46 more a month in monthly payment versus $3,200 in additional up front fees.

If you do the math, you would have to live in the house over 70 months; almost six years, to be better off as far as total cost is concerned. The option looks even better if you consider the payment differ-ence, which is an all tax deductible mortgage interest. So the dif-ference on an after tax basis will be even less, maybe a lot less depending on your individual tax bracket. Considering after tax dollars, the time to recover the upfront investment is even longer; therefore, you could take that money and invest it and the option becomes even more compelling. For more information on the “No Closing Cost” or any other pro-gram, visit www.dhimortgage.com.

No Closing Cost Loans a Popular Choice for DHI Clients

View Your Favorite Floorplans Online at www.drhortonhawaii.com If you visited www.drhortonhawaii.com recently, you may have noticed a new “View Favorites” button at the top right of the screen. Clicking on this new link will allow you to create a username and password to save your favorite floorplans. Once saved, your floorplans can be accessed online, emailed to a friend, or printed for your sales agent. Also in the “View Favorites” section are additional links allowing you to view renderings, virtual tours and photos of the floorplans you save. To use this feature, simply logon to www.drhortonhawaii.com and follow these steps: • Click on the “View Favorites” button at the top right of the screen • Follow the instructions to create a new account

-OR-

• Go to any floorplan, photo or rendering • Click on the “Save to Favorites” button on the right side of the screen • Follow the instructions to create a new account Remember to visit www.drhortonhawaii.com regularly for community updates!

DHI Mortgage Company

77 Merchant St. #177 Honolulu, HI 96813

PH: 545-4701 FX: 585-7218

www.dhimortgage.com

Board Brief

Frequently Called Numbers

The Sea Country Sales Office is looking for a weekend Host / Hostess

Duties include meeting and greeting customers,

filing, computer work using MS Excel and Word., and assisting sales agents as needed. Good people

skills are a must. $10 per hour.

If you are interested, fax one page resume to 521-6698 or email jendo@drhorton.com

Join the Team!