06-11-2007, 01:29 PM
Hotzcatz--
I considered this house:
>>There is a house for sale near us, they put it up for sale about a year ago and they were asking $599,000. The price is now down to $352,000 and still nobody is coming around to look at it. The owners bought it for $320,000 in 2004, I don't know if they will be able to get their money back out of it or not.
The house had some big issues.
1) The flooring was all junk, even according to the agent.
2) Only parking (outside) for one car and no street parking on the one land private road. Needed to bring in heavy equipment to reshape the land to have additional parking.
3) Carport to family room addition unpermitted (and maybe not code).
4) dry rot
so ... there is such a thing as losing money due to letting a property go down hill (in this case there was a family tragedy, but in any case, the property wasn't kept up).
The biggest issue in my mind was that the property is just downwind from the mill if the proposal goes through, and I would not want to live downwind from a power plant/veneer mill.
I think this property would have sold easily if not for the problems. Hamakua is so desirable, but all the nice places are priced above 700,000 -- to me that's still the price of an exceptional home, and it's moot because I can't afford that.
And then the affordable listings there are real fixers, not for everyone.
I considered this house:
>>There is a house for sale near us, they put it up for sale about a year ago and they were asking $599,000. The price is now down to $352,000 and still nobody is coming around to look at it. The owners bought it for $320,000 in 2004, I don't know if they will be able to get their money back out of it or not.
The house had some big issues.
1) The flooring was all junk, even according to the agent.
2) Only parking (outside) for one car and no street parking on the one land private road. Needed to bring in heavy equipment to reshape the land to have additional parking.
3) Carport to family room addition unpermitted (and maybe not code).
4) dry rot
so ... there is such a thing as losing money due to letting a property go down hill (in this case there was a family tragedy, but in any case, the property wasn't kept up).
The biggest issue in my mind was that the property is just downwind from the mill if the proposal goes through, and I would not want to live downwind from a power plant/veneer mill.
I think this property would have sold easily if not for the problems. Hamakua is so desirable, but all the nice places are priced above 700,000 -- to me that's still the price of an exceptional home, and it's moot because I can't afford that.
And then the affordable listings there are real fixers, not for everyone.