01-16-2008, 12:27 AM
Looking at recent sales in the real estate market, a lot on 15th in HPP listed at 55000 sold at 35000, others elsewhere are selling at 50-70% of asking price. MAny of the selling houses are selling at 90% or so of asking, Some get full asking price but the asking price is lower. I am particularly interested in waa waa. 2 years ago cheapest lot was 200K now there are lots listed at 100K, with no takers. Oceanfront in waa waa has dropped from 450K asking to 285K asking.
If an investment company is unloading nanawale at this reduction, I'm sure it makes economic sense. With the US in recession, the dollar dropping, the leaving of HAwaii by the Japanese, look for prices to drop further. I figure a paper loss on my property there at probably at least 30-4o% but I don't care since I bought to have, not as an investment, and I don't intend to sell. I recall telling John Dirgo at the time that I expected to lose 20K on the transaction. I was wrong. I probably will lose more. I still don't care.
If an investment company is unloading nanawale at this reduction, I'm sure it makes economic sense. With the US in recession, the dollar dropping, the leaving of HAwaii by the Japanese, look for prices to drop further. I figure a paper loss on my property there at probably at least 30-4o% but I don't care since I bought to have, not as an investment, and I don't intend to sell. I recall telling John Dirgo at the time that I expected to lose 20K on the transaction. I was wrong. I probably will lose more. I still don't care.