12-12-2016, 10:02 AM
quote:
Originally posted by Johnd
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
Those are unimproved lots, if it has an unpermitted structure it is still listed as a house and land. If anyone bothers to spend the time looking at prices lots in HPP have actually sold for over the last 2 years, as opposed to just speculating with zero data, there is a steady increase in both asking and selling prices and a steady decrease in selling time. I didn't cherry pick months, if you look at the data over a longer time these selling prices are not an anomaly, they are part of a steady upward trend for both land and houses in HPP, all of Puna really.