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Mermaid,
Thanks for posting road information. Do you know if anyone actually went thru with the threat of arbitration? Do you know what it was for specifically? And if there was actually a request for arbitration, at what stage is this proceeding as of this month?
Mahalo and Mele Kalikimaka to you and your family. R
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I am thinking that these increased fees (combined with the property taxes) are at the point where the speculators will not be able to justify the continued holding of their lots and will start selling off, resulting in lower lot prices in the near future.
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quote:
Originally posted by leilanidude
I am thinking that these increased fees (combined with the property taxes) are at the point where the speculators will not be able to justify the continued holding of their lots and will start selling off, resulting in lower lot prices in the near future.
If you compare Oct of this year with Nov of last year you will see average lot prices in HPP have risen about $3000 or roughly 10% in 12 months and median lot prices have risen by closer to $7000. There was a healthy number of sales in both months too.
November 2015
http://localhawaiirealestate.com/Reports...20LAND.pdf
October 2016
http://localhawaiirealestate.com/Reports...20LAND.pdf
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Ok so 1 road between kaloli and paradise if everyone pays their dues is approx 24k ...i have seen my road fixed(very poorly) once in 5 years ...never seen anyone ever mow the sides other than
lot owners this is unbelievable. ..the chip seal project also unbelievable has anyone noticed the newest roa
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The last road that was chip sealed less than six months ago is already deteriorating it has potholes and will probly have a lifespan of 2 yrs max thats a waste of our dues
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We may want to point out for clarification sakes that the average lot has not risen by 7000. The data refers to a median calculated by actual sales not actual individual value. AND the higher median figure is the product of half a dozen lots that were sold way above and beyond. The data does not indicate whether improvements were present in those particular lots, most likely they were.. specially if they had any unpermitted structures on them. The only one being an exemption, would be the Beach Rd lot,just because those do command such prices near the ocean.
Reality is that the average lot listing asking price is showing more modesty as shown by the MLS. I do agree that there may be an increase of listings lowering prices if investors give up.
I would love to hear that HPP valuation is taking off, but there is a difference between the wishful thinking of realtors salivating at their chops with the last piece of viable dirt cheap real estate in the islands, and reality. No one argues that HPP is not a diamond in the rough, but the impact of a recklessly managed "road association" will shatter any glossy predictions. Owners that live by roads full of overgrowth and potholes are going to get tired very soon. Out of site owners may want to cash in the chips before the liability created by a fully foolish Board send the subdivision into receivership.
This association is at the end of its road. The chip seal project is going to be be its downfall, along the shameless Board's inability to maintain the roads they were trusted to maintain.
What makes me so exasperated on top of years of complaints about the Boards and the steady degradation of roads, are those who, for one reason or the other, are looking the other way. Instead of working to improve the governance, we are settling for the lowest common denominator.
KALOKA...ALL IN GOOD TIME.
jdo
jdo
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To get a good idea of what's going on, median, mean, count and standard deviation give a much better picture than median alone. One of these stats by themselves is far less useful - you might as well just look at the raw data. Also, recent sales value is probably the best measure of 'value' as long as it's looked at in context of trends over time and has a large enough sample size.
Me ka ha`aha`a,
Mike
Me ka ha`aha`a,
Mike
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the impact of a recklessly managed "road association" will shatter any glossy predictions
This is exactly why I think there should be more mandatory real estate disclosures for any "private ag subdivision" -- yes, "buyer to perform own due diligence" but too many don't bother and/or are told shiny happy lies ("we intend to pave all the roads").
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DT's, let me ask you something. If you order a steak and get a hamburger or buy a certain lawnmower and get a lesser model are you the type that says nothing? I'm not trying to be mean here one bit but this is the mentality that the board(Jo) counts on. The type that lets themselves get walked over for the sake of keeping the peace. You mention that your $313+ road fees are fine because the main roads are taken care of. I have to say, you must not have lived here very long because less than 3 years ago, the main roads were far far better and why should our gravel roads go to hell when they weren't that way before when we were paying far less and not spending $36,000 extra to outsource. What are those employees doing that we pay for when their job is outsourced? We are being fleeced and you are happy about it.
I have a friend who lives a street away from the new chip seal and he says it has weeds growing through it and has pot holes already with less than a year on it. Good use of our dollars?John wants legal action. we all would but finding an attorney willing to take such a case may be nil and especially without a $20,000 retainer. And that is just the beginning. Who would champion this ongoing money pit with the knowledge that the board has no problem hiring 2 firms and digs in their heels not willing to talk to the regular folks.If Jo continues to control the board and fill vacancies with people who are happy to follow her nothing will change.She has to be gone!
As for a few posters here. I remember being hit pretty hard about being negative toward 1 person who posted. Though true, I was frustrated and angry that lies were being said here and false information. This person has seen what is true and is trying to find a way to right all the wrongs. This is good and I don't attack for no reason. Something you need to seriously think about. The truth is the truth no matter how much someone changes it, twists and contaminates it. One can die believing lies but the truth remains the truth.
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Katrina, the association cannot afford to retain two firms, because it is on its death throes. Lawyers, a dime to a dozen. But if I a not wrong this is something the attorney general may be the one to deal with it first. WE need quorum among lot owners that see where this is going and are fed up of being feeding tales, paying fees for nothing. It does not have to go all the way to court, but it has to start somewhere.
jdo
jdo
