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+--- Thread: Sales up, pricing down (/showthread.php?tid=6095)
RE: Sales up, pricing down - Bullwinkle - 02-10-2011
tough to get a statistical norm with a low number of sales and reo's skewing the results imho
RE: Sales up, pricing down - Kapohocat - 02-10-2011
quote:
Originally posted by Youser
Even if you are retired, that long drive to town to buy essentials would be a real pain. Kapoho is nice but it's too far from anything. Maybe in 20+ years that will change and that will improve property prices. Nice houses, lots of land, etc but too far from conveniences.
Yes, it means you have to be organized and do all your town stuff at once which is good sense in the carbon footprint way even without a drive. HPP only saves you 1/2 gal but if you go every day from HPP....
After growing up in LA close to everything i needed in a 10 mile radius but living 35 miles from the ocean... makes me not mind my one or two trips to town every week... and if I plan right, I am like Obie, I dont go any further than Pahoa! [
]But I should be saying... oh you dont want to live down here, too much sunshine, not enough traffic, dont go by a grocery store or gas station to get to tidepools... yah thats it! [
]
RE: Sales up, pricing down - hawaiideborah - 02-10-2011
What you didn't mention was the lava zone 1. Living on top of the east rift is not comfortable for many people and will keep the housing prices down significantly compared with HPP or Orchidland. You pay more for insurance, have limited choices for insurance and limited coverage amount and many lenders will not loan in lava zone 1. Thus, there are a lot fewer buyers for houses there and it has nothing to do with the distance to Hilo. Just saying what we were told many times by many people. Lava Zone 1 is not for everyone.
RE: Sales up, pricing down - Kapohocat - 02-10-2011
HI Deborah, we are in Lava zone 2 if your reply was referring to Kapoho Vacationland.
RE: Sales up, pricing down - hawaiideborah - 02-10-2011
quote:Not a difference in ability to get insurance or loans, is there?
Originally posted by Kapohocat
HI Deborah, we are in Lava zone 2 if your reply was referring to Kapoho Vacationland.
I sure researched it and found no diff in lava zone 1 or 2. So, as far as a buyer goes, it is a hard sell regardless if you are zone 1 or 2.
You had to go to lava zone 3 to get any choice you want for insurance and any lender you want.
RE: Sales up, pricing down - csgray - 02-10-2011
During the boom era for house sales, Leilani Estates was very popular, even being zone 1 and right on the rift zone. When lots of property was moving fast lava zones didn't seem to make much difference to potential buyers. The truth is there just aren't many buyers of any stripe out there, but there are over 400+ houses for sale in Puna ranging in price from $21,000 to $1,400,000+. There are nowhere near 400 sets of buyers out looking at houses to buy.
Carol
RE: Sales up, pricing down - dinulya - 02-10-2011
Kapohocat,
Your house looks very nice, I am sure you will find a buyer soon.
RE: Sales up, pricing down - mdd7000 - 02-10-2011
And the homes on the market don't include the possibly hundreds of foreclosures that are not listed right now.
RE: Sales up, pricing down - hawaiideborah - 02-10-2011
quote:I agree, when it is a boom era lava zone 1 and 2 will sell without problems.
Originally posted by csgray
During the boom era for house sales, Leilani Estates was very popular, even being zone 1 and right on the rift zone. When lots of property was moving fast lava zones didn't seem to make much difference to potential buyers. The truth is there just aren't many buyers of any stripe out there, but there are over 400+ houses for sale in Puna ranging in price from $21,000 to $1,400,000+. There are nowhere near 400 sets of buyers out looking at houses to buy.
Carol
However, when it is our current economic situation and not a boom era, buyers are picky and can take their time to think about all the criteria and check out insurance and loans. They can have their pick of over 100 houses not in lava zone 3 where any loan will do and anyone will insure. thus, it is a confining factor with such a huge inventory for the buyers to choose from. In a boom era anything sells. That is not what we have now. We had our choice of anywhere in puna and could take our time and be selective. It is a fantastic time to buy if you love choices and options and getting a great deal.
RE: Sales up, pricing down - John S. Rabi - 02-10-2011
quote:There are 1,200 properties owned by IndyMac/One West still in "waiting" to hit the market just in Kona.
Originally posted by mdd7000
And the homes on the market don't include the possibly hundreds of foreclosures that are not listed right now.
Aloha,
John S. Rabi, GM,PB,ABR,CRB,CM,FHS
888.819.9669
johnrabi@johnrabi.com
http://www.JohnRabi.com
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