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From my perspective, here in Wisconsin, if I can not afford housing in one area, say, Madison, I simply move a few miles and the housing is MUCH cheaper. That seems to be less true there. To get truely cheap housing you have to move off island or live in less than standard conditions, which it is possible to do.

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Well moving off island will not help you much as Puna is already the most affordable place in Hawaii.

In regards to scammer. I agree with leilaniguy that land contracts could be a blessing for people who would otherwise not be able to own land at all.
And I agree with John that people need to know what they are doing and signing. If you don't have an attorney, ask a friend, ask a guy on the street, go on the web, or have a friend go on the web.
There are scammers out there no question. Everywhere. And sometimes they call themselves mortgage company. Friends of mine have bought their house on an interest only loan. That's all they qualified for. If they can't pay, the house will be foreclosed. Is there much difference to a land contract. With a land contract you might be able to fall back with your payment sometimes - depending on the seller - with a big mortgage company you will probably loose no matter what.
But having all this said - they have a house and maybe one day they will be able to refinance. And I think that it's better than paying rent. Agree?

michael
http://www.punaguide.com

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RE: More affluent people moving to Puna? - John S. Rabi - 05-12-2006

Sorry Mike, you legally can't fall back with the payments on any kind of loans. Seller financing, both "PMM" and "A/S" are no different than a bank loan. If you are late and the Seller choose to be lenient that's a different story but he doesn't have to be.

Aloha,
John S. Rabi, ABR,CM,CRB,FHS,PB,RB
http://www.JohnRabi.com
Typically Tropical Properties
75-5870 Walua Road, Suite 101
Kailua-Kona, HI 96740
(808)327-3185

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RE: More affluent people moving to Puna? - Rob Tucker - 05-12-2006

A slum lord is still and slum lord and I don't like 'em.

Chairman, Punaweb Committee, MSPA

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RE: More affluent people moving to Puna? - miketat - 05-12-2006

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If you are late and the Seller choose to be lenient that's a different story but he doesn't have to be.

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John I guess my language is not as clear as yours, but you said what I meant. Thanks

michael
http://www.punaguide.com

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RE: More affluent people moving to Puna? - cara4art - 05-13-2006

Hi all!
Yes, this thread has taken some twists and turns, but all in all it has been very helpful! It would seem that for some of us, especially micro-businesses(aka very small enterprises), having an influx of some moneyed folks who will really appreciate the area would be an opportunity to provide unique and mutually-beneficial goods and services.
Before we relocated to New Mexico from San Francisco back in 1994, we did all kinds of research and weighed the pros and cons of such a move. We finally came to a point of decision when we realized that there's only so much one can try to figure out from afar. It was just time to get going with it, and figure the rest of it after we got here! My husband and I are very much looking forward to coming out to Puna again - I have the distinct feeling that it will be to move - we shall see. Puna rocks!
In the meantime, it seems like there are some great folks on this board to communicate with!

health-conscious visionary artist in transition

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RE: More affluent people moving to Puna? - Kapohocat - 05-15-2006

bystander! You made my day!!!!!!!!!

Mike was our neighbor for years till we moved Puna side - and my mom didnt say anything about it yesterday when we saw her (they still live in Honomu)!

My sweetie and I first had the twinkle in our eyes at Hakalau! really you made my day!!!

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RE: More affluent people moving to Puna? - bystander - 05-15-2006

Mike Staszkow was your neigbor? Well it's a small world then because I know him personally also. I used to work with him.

It takes an activist like him to get things done. I'm just a bystander.

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RE: More affluent people moving to Puna? - pam jones - 05-16-2006

What is affluent? Is it people who value a man/woman by the portfolio size or the number of pages needed when filing income tax returns? Is it the people who want to have the biggest house on the block or most expensieve SUV in order to make their friends and neighbors covet what they have? Is it the shallow minded who are impressed by the stuff of this world and often feel uncomfortable in their own skin? Personally I don't think those types of "affluent people" will be happy here where for the most part, nobody cares about such things. Just my little two cents, perhaps they might want to shop elsewhere for a piece of paradise to buy.

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RE: More affluent people moving to Puna? - miketat - 05-16-2006

Definition of affluent:
prosperous; flourishing; copious; rich; abundant; wealthy

I'm surprised that some people think that people with money have to be somehow bad or shallow. There are probably as many crooks amongst the rich as amongst the poor. Everybody is different.

Andrew you said:

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There is no question that more affluent people are moving into Puna whether we like it or not. All one needs to do is to observe the way real estate prices have gone up exponentially and that in itself is proof.

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Please consider the possibility that high real estate prices are not necessarily jacked up by "affluent people", but by the sellers of properties. Many of them thought and many still do "well if I can sell my property for twice the amount, why shouldn't I do it. Hey I make an extra $40K. Not bad." If you were watching the price development in Puna you know that plenty sellers in Puna overpriced their properties to make a big buck. (And those were not necessarily rich people coming from somewhere else.) The market in Puna is still very unregulated and you have to do a lot of your own due diligence work if you don't want to get ripped off.

michael
http://www.punaguide.com

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RE: More affluent people moving to Puna? - mella l - 05-16-2006

Peoples real life experiences set their opinions, it takes much energy to open up those recesses and reexamine these experiences.

Well in the subdivision where we hope to move, there are a lot of affluent land owners. Just look at the tax maps and you will see "Family Land Trusts" of size. So these are affluent peoples in the most part is my guess. A few prudent types but mostly wealth to be protected and preserved for the future generations.

Nice thing about it is so far they are absentee land owners. They pay taxes and don't use the roads or services. I double doubt, LOL, there will ever be McMansions in our spot on the slope in my lifetime. This gives me great relief, as I'm trying to escape the McMansion Cult. Know what I mean Vern! Gosh sometimes I sure miss good ole FB, think he might have said something just like that. LOL

mella l

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