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+--- Thread: if you bought a house in Puna in the last 5 years (/showthread.php?tid=5020)
RE: if you bought a house in Puna in the last 5 years - Dave M - 01-20-2009
Hey Kathy,
I keep missing that one. My wifes seen it like three times. She commented that the agent was obnoxious(sp). I have seen some that I know they had to have cut and edited to death, LOl.. The other one is the flip the house show.. I always have trouble with their math.
quote:
Originally posted by KathyH
LMAO at your newsletter Dave, I love the part about not stealing your car. []
Speaking of agents, I just saw that HGTV Househunters show on the Alaska couple looking to buy oceanfront in Puna, that I was alerted to here. (I guess it repeats fairly often).
The agent that showed homes to that couple, was everything I don't like. She was the perky glossy high sales pitch here's your dream home, everything is good, hey it's only $900 a square foot.
She pitched catchment water as "never having to pay a water bill again." OMG!
She never said a word about Lava Zone 1 and the implications.
Just sold them a fantasy lifestyle, for over $700K
Almost sold them the fixer so they could "personalize" the place, an 800 square foot fixer 2/1 for over $500K. Not a word about the challenges of fixing houses here.
Stuff that made me laugh ... they saw the house on the really high post and pier that is required for oceanfront in Kapoho (12 feet?) and laughed and called it the tree house. Not a word from the agent about how that's so the storm surge stays under your living area when the weather acts up.
This is the one where they drive through the "cute Bohemian Village" of Pahoa. It was like they bought the Disneyfied version of Puna, and the realtor totally played it that way.
I'm so glad I've never had an agent like that. I've been shown houses by sellers' agents that insisted on walking me through with my agent, who did that, but it always turns me off.
Blech. It left a bad taste in my mouth, the lack of information these buyers got. Maybe all that was cut out for TV, but I think it would have been more interesting for home buyers to hear the real scoop.
Blessings,
dave
"It doesn't mean that much to me.. to mean that much to you." Neil Young
RE: if you bought a house in Puna in the last 5 years - Dave M - 01-20-2009
Thanks ric, I think you're a sharp guy and I look forward to meeting you and many others here some day. Keep up the good input.
quote:
Originally posted by ric
Thanks for clarifying, Dave. Your knowledge is an asset to PW. Hope you make it here soon.
Blessings,
dave
"It doesn't mean that much to me.. to mean that much to you." Neil Young
RE: if you bought a house in Puna in the last 5 years - Laughing_girl - 01-20-2009
quote:
Originally posted by John S. Rabi
Yes, I admit it, I sold almost all of my real estate holdings in 2005 and 2006, because the values reached my exit level, but I invested my funds in real estate elsewhere.
Aloha,
John S. Rabi, GM,ARB,BFT,CM,CBR,FHS,PB,RB
808.989.1314
http://www.JohnRabi.com
Typically Tropical Properties
"The Next Level of Service!"
Bears make money. Bulls make money. Pigs make nothing.
Good advice John on exit level! Always have an exit plan so you don't waffle and then lose. It's one of the first things taught to beginning finance students.
Sometimes you just have to take the leap and build your wings on the way down.
RE: if you bought a house in Puna in the last 5 years - bystander - 01-20-2009
quote:
Originally posted by John S. Rabi
Yes, I admit it, I sold almost all of my real estate holdings in 2005 and 2006, because the values reached my exit level, but I invested my funds in real estate elsewhere.
Aloha,
John S. Rabi, GM,ARB,BFT,CM,CBR,FHS,PB,RB
808.989.1314
http://www.JohnRabi.com
Typically Tropical Properties
"The Next Level of Service!"
So you don't admit to being wrong about your predictions but you admit to being right about selling all your holdings back in 2005-06, all the while talking up the market and suckering buyers in. My hat goes off to you. You really are a financial genius!
RE: if you bought a house in Puna in the last 5 years - John S. Rabi - 01-20-2009
Originally posted by bystander
[/quote]...You really are a financial genius!...[/quote]
Originally posted by John S. Rabi
[/quote] I invested my funds in real estate elsewhere. [/quote]
Aloha,
John S. Rabi, GM,ARB,BFT,CM,CBR,FHS,PB,RB
808.989.1314
http://www.JohnRabi.com
Typically Tropical Properties
"The Next Level of Service!"
RE: if you bought a house in Puna in the last 5 years - EightFingers - 01-21-2009
Carey,
Isn't that what title insurance is for?
RE: if you bought a house in Puna in the last 5 years - Carey - 01-21-2009
If you do not have a mortgage (many land only purchases do not carry a mortgage) you do not have to have title insurance... many real estate agents and real estate attorneys advise to use title insurance, but that is up to the buyer of the parcel & some may not, esp without the advice to get it..
Also title insurance cover the title & defects to the title.... wrong staking would only show up in a survey... & the person who was wondering if there could be any liability in a land purchase also was looking to avoid the cost of a land survey, (in another post) if the property had ben staked previously... title insurance & the report would do nothing here!
There has also been legal liability in other states when there was a defect in the property such as a sinkhole (in an area of karst topagraphy) present on the land that was not disclosed (I can easily see a lava tube here that was not disclosed at sale)
There can always be some legal liability in ANY property transaction.... that was my point... and yes, it is best to go in with that knowledge & to cover your assets as best you can... one of the ways is to have a professional represent you in the transaction....
I feel it is best to make sure you have the best professional you can for this transaction....(but this is just MY opinion... if you think that having no professional represent you works for you, that is fine... but hopefully you understand each & every C.Y.A. aspect of this transaction, from knowing exactly what each contract should & must have to knowing what each form of coverage protects you from what.... ie, what will title insurance protect you from.... )
RE: if you bought a house in Puna in the last 5 years - John S. Rabi - 01-21-2009
quote:It certainly is true. However, if you don't get a title insurance than the chain of title will be broken and it might cost you more when you try to sell your property. In Hawaii it's customary that the seller pays 60% and the buyer pays 40% of the title insurance premium. The premium depends on the purchase price. ($250 for a $45,000 property and $2,000 for a $700,000 property.)
Originally posted by Carey
If you do not have a mortgage (many land only purchases do not carry a mortgage) you do not have to have title insurance...
Aloha,
John S. Rabi, GM,ARB,BFT,CM,CBR,FHS,PB,RB
808.989.1314
http://www.JohnRabi.com
Typically Tropical Properties
"The Next Level of Service!"
RE: if you bought a house in Puna in the last 5 years - missydog1 - 01-21-2009
I would never buy without title insurance, especially in Hawai'i.
On a side note, I only realized yesterday that I do have a Land Court property.
How do properties become Land Court? My survey says Land Court 1652, which can hardly be the date, so what does it refer to? (while we're meandering all over the spectrum).
bystander, I don't know exactly why you're so intent on badgering John about his past statements and nailing down admissions, but as an onlooker I find it simply tiresome. There is no payoff, and no one else seems to be on the bandwagon, wish you would get over it or at least keep it off the forum after griping about it umpteen times.
At BEST you would be able to show John was wrong about the future. I am not saying he was but if that's the best outcome, what really is the point? Are you attacking his ethics or what?
RE: if you bought a house in Puna in the last 5 years - John S. Rabi - 01-21-2009
quote:Frustration Kathy, frustration. He missed the boat! [
Originally posted by KathyH
...what really is the point? ...
]Aloha,
John S. Rabi, GM,ARB,BFT,CM,CBR,FHS,PB,RB
808.989.1314
http://www.JohnRabi.com
Typically Tropical Properties
"The Next Level of Service!"