County offer?

[Guest]

We just received a letter from a local realtor saying The county has offered to buy our house. This proposed buyout from the county is part of the geothermal relocation process. The letter or contract does not give us very much time to decide to accept or reject the offer(June 30th 2015). If we reject or simply do not reply by that date then we are automatically dropped from the relocation list with no other counter offers.

Now because we haven't been allowed much time to make a decision about this recent county offer. We are hoping that many of you here on Punaweb will offer your advice, views, or opinions. Which then may help us make the best decision for the family.

Allow me to share with you a few important details first.
Our home and property is located in the leilani estates subdivision, we have been on this geothermal relocation list since 2012. We bought our house back in 1999 before the expansion of geothermal production in lower puna. The county offer is for $137,500 which IS $35,000 less than the current market value and nowhere near the 130% they were relocating others for in the past. What They are offering is 100% of the assessed property value from the year of 2014(Lava flow year). Unfortunately we haven't seen any other relocation expenses like moving, shipping, or airfare being considered or included in this one time offer.

We have wanted to relocate for several years now, even have an idea of where we may want to relocate. So our questions are as follows.
should we take this low and outdated offer from the county of $137,000 with no realtor add on fees?
Should we reject the offer and put the house on the market by realtor for market value $170,000?
Why doesn't or isn't the county offering the 130% like they once did for others and is that fair or right?
Should other relocation expenses be considered?
Because it took several years to get to this point Should we automatically be taken off this geothermal relocation list if we reject this one time offer from the county?

This type of lowball buyout really shouldn't end up costing the county much because The county has plans of actioning off the property to recoup the cost of the buyouts. From what we understand Most on this geothermal relocation list have already turned down the relocation offers because the offers have been to low with no moving expenses included. We would appreciate any discussion, opinion, or advice on this as we really don't have much time to decide. Mahalo in advance.

[Punatic007]

Write or call whomever is in charge and ask for an extension. Also them the same questions you are asking here. Contact an attorney also?

[kalakoa]

put the house on the market by realtor for market value $170,000?

How is it worth that much if it's "near PGV" with all the problems that causes?

county has plans of actioning off the property to recoup the cost of the buyouts.

Continuing to allow people to live "near PGV" doesn't solve the original problem, but that's apparently a non-issue.

[HereOnThePrimalEdge]

The county offer is for $137,500 which IS $35,000 less than the current market value

What is your perceived value of living in a healthier location? More than $35,000 for you, your wife and children over a period of decades into the future?* Then take the offer.

* $35,000 over 35 years, divided by two (you and your wife) = $500 a year. That doesn't even include your children.

“There are worse crimes than burning books. One of them is not reading them.”
-Joseph Brodsky

[Lee M-S]

the county could auction the properties off for non-residential uses.
Maybe PGV could expand, then the county could buy another halo of houses...

><(((*< ... ><(("< ... ><('< ... >o>

[Tink]

I think you may have to take a real hard look at what the other homes are selling for, not what they are asking for, and how long it took to sell. You will need at least five within your neighborhood to get a good feel on the comparative cost (comps). Use similar (i.e: apples to apples, same size house, same size lot) bells and whistles only seem to make it sell faster, but not necessarily add to value. Be sure to investigate what taxes apply to each, closing costs if by private realtor, and advantages/disadvantages on both options.
I don't think there is any negotiating with the County price, it is what it is. Also, how could they re-sell, or you sell the home with a known health hazard if that is what the buyout is for?

Community begins with Aloha

[kalakoa]

the county could auction the properties off for non-residential uses.

They're already not "residential" but "agricultural", with any other use requiring an SUP and/or rezoning.

I think everything "near PGV" should be upzoned to C or ML, anyone who wants to relocate could sell their property at a nice profit, and we could stop arguing about "residential uses near an industrial operation". This assumes that "solving the problem" is actually the desired outcome; history suggests that this is never the case where County is involved.

[PaulW]

If the current market value really is 170k (how do you know that??) then sell it for that instead, of course.

[Mr nice guy]

@gypsy69, I don't care how it pans out but I hope it pans out well for you.

[Guest]

Thanks for the great responses and advice thus far PW.

oo7, yes I asked several questions when i contacted the realtor yesterday. Attorney?? County??

PaulW, It states the market value info next to the assessed value on our county of Hawaii 2016 real property assessment notice.

Pahoated, good catch on the 2015 deadline, lol. The date although in bold black ink is probably a misprint by the Clark Realty corp who wrote out this county contract,jmo.

Kalakoa, you again bring up a few interesting points of concern mahalo.

Tink, thank you for the solid comp advice and yes I agree about the questions surrounding the selling of the property in a known health hazard environment.

Wouldn't this buyout have an affect on most other property values around the geothermal power plant?

Why is the county buyout option only for the few who were on the geothermal relocation list? Let me try another way, If the buyout is indeed because of the unsafe or unhealthy environment being caused by Ormats expansion and geothermal operations then why not include the buyout option for the other hundreds or thousands of nearby living residents who may not have known or understood the ramifications? Thanks again everyone and please continue to enlighten us with your views and opinions on this community concern.


Edited to add info,ty.