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+--- Thread: Decline in Real Estate (/showthread.php?tid=4377)
RE: Decline in Real Estate - Jared I - 11-03-2006
Did we talk about this???
http://www.honoluluadvertiser.com/apps/pbcs.dll/article?AID=/20061103/NEWS01/611030361/1001/NEWS
or this?
http://www.honoluluadvertiser.com/apps/pbcs.dll/article?AID=/20061030/BUSINESS04/610300309/1071
Some of these people in the first article were the ones that projected a robust spring and summer, good thing we have the web to archive this stuff.
And in the second article can you imagine buyers pausing to buy a small condo in Hawaii in a downtrending market? Geez... The nerve of this buyers....
RE: Decline in Real Estate - JerryCarr - 11-03-2006
Interesting stuff there, Jared. Part of the lack of interest in the Hilo condos may be due to the small size of the units. A lot of the folks priced out of the local housing market are families, and a one-bedroom is pretty small. Also, a small unit in Hilo for just over $200,000 plus condo fees doesn't compare well to small homes in Puna now available for $220-250,000. (Yes, there are some reasonably decent ones out there at that price level.) And finally, even at the reduced pricing, many of the people who might like a one bedroom still can't qualify income-wise. Defining affordable housing as what somebody making 130% of the median local income for two can afford seems unlikely to offer much serious relief.
JMHO,
Jerry
RE: Decline in Real Estate - jdirgo - 11-03-2006
Also, there has been almost no publicity about the availability of the affordable housing in that complex. The location is great, right on the river on Wainaku Avenue (its just down the street from my Hilo house). OK, so there's a mortuary next door, but that's not a bad thing to me. That neighborhood is improving with lots of the older homes being brought back to their former glory.
Funny story, when I moved there 6 years ago (when I first owned that house) everyone told me "oh, you don't want to be there, there was a drive-by shooting there 5 years ago". My response: "I'm moving here from Birmingham, Alabama -- there's a drive-by shooting every day."
John Dirgo, RA, ABR, e-PRO
Island Trust Properties, LLC
808-987-9243 cell
http://www.hawaiirealproperty.com
RE: Decline in Real Estate - Jared I - 11-04-2006
http://starbulletin.com/2006/11/04/business/story01.html
RE: Decline in Real Estate - haoleboy - 11-04-2006
Kapohocat
Kama'aina
474 Posts Posted - 11/03/2006 : 10:21:42
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When is the building slump because thats when I want to plan my vacation to Baja for a few weeks!
We are hoping for a couple of weeks in April 07.....
Where do you hang your hat in baja, Cat? I'm making my annual trip south next week. Zip on over and I'll buy you a michelada. Hawaii construction is at a standstill now, from what I'm seeing on the web!
Aloha
Richwhiteboy
"Mexico: where life is cheap, death is rich, and the buzzards are never unhappy."
-- Edward Abbey
RE: Decline in Real Estate - David M - 11-04-2006
QUOTE:Hawaii construction is at a standstill now, from what I'm seeing on the web!
Easy to tell you've not spoken with either my plumber or electrician recently
David
Ninole Resident
RE: Decline in Real Estate - Kapohocat - 11-06-2006
Well we are heading to Mulege hopefully for a few weeks in the spring. I used to go to Cabo (but last trip was the week when Cabo Wabo opened and touristas started flocking there almost 18 years ago...) and also San Felipe 30-40 years ago annually but now I hear there are CONDOS where we used to camp out!
And as for the building slump - in my business I have gotten more first time & long term investors this month than in six months. The spec guys have slowed down it seemed but then got one who is doing 4 who said by the time he gets them up and on the market in 1 -3 years, he believes there will be a recovery. He is self financing so taking it slow...and said if all else fails, he can use them as rentals. BUT he is also not doing one of a kind customs...
Catherine Dumond
Blue Water Project Management
808 217-7578
http://bluewaterpm.125mb.com/index.html
"We help make building your dream home a reality"
RE: Decline in Real Estate - radioguy - 11-06-2006
Big Island Housing Prices on the Rise...
http://pacific.bizjournals.com/pacific/stories/2006/10/30/daily76.html?surround=lfn
RE: Decline in Real Estate - haoleboy - 11-06-2006
Yes, Cabo and San Felipe are suffering from white flight. Mulege doesn't seemed to have changed much, although I've heard that this years hurricanes flushed out everything near the river. I'll be checking it out first hand next week.
Nice to get first hand info on building starts. Any sign of the media hype slowing?
Aloha
Richwhiteboy
My immigration policy is "Remember the Alamo." -Kinky Freidman
RE: Decline in Real Estate - Kapohocat - 11-07-2006
quote:
Mulege doesn't seemed to have changed much, although I've heard that this years hurricanes flushed out everything near the river. I'll be checking it out first hand next week.
Email me about Mulege when you get time after your trip.... I know the rest of you think - live in hawaii , vacation in Baja?? ha ha Gotta have good mex food and Margaritas every once in awhile...
Edited by - kapohocat on 11/07/2006 13:23:42