03-29-2019, 03:56 AM
Asking prices are definitely up. What would have listed for 30-40k in 2012 now lists for 60k+. After receiving our tax assessment, I contacted a real estate agent and asked what the current difference was between sales and assessment values. She responded that as long as the property is in the condition it should be in based on the data the county has, current sales varied between 10%-25% higher than assessed value.
While the eruption did cause destruction of property and lowered the valuations nearby, it also exacerbated the housing crunch and caused values to rise, especially in areas not immediately around the rift zone. I note on my assessment that the land value didn't rise much at all since we bought, but the structure valuation has risen. Our assessment was about 5% higher this year, so not a lot.
Me ka ha`aha`a,
Mike
While the eruption did cause destruction of property and lowered the valuations nearby, it also exacerbated the housing crunch and caused values to rise, especially in areas not immediately around the rift zone. I note on my assessment that the land value didn't rise much at all since we bought, but the structure valuation has risen. Our assessment was about 5% higher this year, so not a lot.
Me ka ha`aha`a,
Mike
Me ka ha`aha`a,
Mike
Mike