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Keeping an eye on Trulia and as one would expect there are suddenly a whole lot of lots for sale in places like Nanawale for $3000. Who knows, as the lava gets closer you might be able to buy a lot for even less as people dump their investment. If you think long term, after the lava cools a bit, it might not be a bad investment. Build a little cabin out there and have a very inexpensive place to live. If Pahoa survives, you'd even be walking distance to town. Not the worst way to invest. Risky, yes, but not totally nuts.
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It seems a bit unkind to talk about making a profit on the misfortune of others.
Unless you are trying to raise prices by creating a land rush?
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I've been watching the BI market for years, and typically, freshly Pele "paved" land is relatively worthless. Years later after the market senses that there is no longer any imminent danger, AND there is road access to the land, the value goes up to about $5,000 an acre. But no road=no value.
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quote:
Originally posted by Lee M-S
It seems a bit unkind to talk about making a profit on the misfortune of others.
Unless you are trying to raise prices by creating a land rush?
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Oh no, that is definitely not my intention. My place is just a few miles from the flow on the side that will be cut off, so I'm in this for better or worse, like a lot of others.
Just trying to look at the positive side of things...
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A question that occurs to me, and I would see no reason why the answer would not be YES, but a landowner would seem to still own the land even after it gets a "resurfacing", correct? And wouldn't that still be the case regardless of the overall elevation gain.
Ono - So Fast - So Tasty!
Ono - So Fast - So Tasty!
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I think Nanawale lots are already only around $5K. The lava really isn't projected at this time to go anywhere close to Nanawale as far as I know.
Now Hawaiian Beaches, Shores and Rec maybe a different area as the flow is projected to be real close to that subidvision.
In the next month or so people will know more. Pahoa and lower puna will not be isolated from the rest of the island as if need be chain of craters will reopen and when the lava flow does eventualy stop and cools hwy 130 will be opened up again.
Timeframe to early to tell at this point - everything is uncertain.
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[quote]
Originally posted by OnoOno
A question that occurs to me, and I would see no reason why the answer would not be YES, but a landowner would seem to still own the land even after it gets a "resurfacing", correct? And wouldn't that still be the case regardless of the overall elevation gain.[quote]
Yes, you still own it. It might be 10 or 20 ft higher but you still own it. Finding the survey pins might be a bit tougher though
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The original owner still owns the land. The state takes ownership of new land that forms along the coast, even next to the national park. But the state prefers that the national park enforce the safety regulations along the coast.
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Now is the time to gps your property corners. It might be a few feet off, but close enough. Also you might plant long rebar or steel pipe on the corners and hope that the lava doesn't move them too much. You can come back after the initial flow and add more length to the markers if they have been partially buried.
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quote:
Originally posted by lavarat
The original owner still owns the land. The state takes ownership of new land that forms along the coast, even next to the national park. But the state prefers that the national park enforce the safety regulations along the coast.
Then there may be some residual value left, and after a few years, it may start to appreciate. The residual value and potential appreciation would, naturally, be on a case-by-case basis, with the three "Ls" of realty taking on even more importance, but if your property, by some quirk of Location, is so blessed, it might not be all bad.
An earlier post mentioned GPS coordinates, and I suspect that might be an excellent idea, complete with photo-documentation.
I suspect it won't be long until the quad-copters with Go Pros start showing up as sort of Volcano Paparazzi.
Best wishes to all.
Ono - So Fast - So Tasty!
Ono - So Fast - So Tasty!
