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Aloha,
I just recently purchased some land and I'm building a house. My realestate agent did try to sell me an existing house, but once I factored in what it would cost to repair or get up to date it was cheaper to build. It could be where I was looking, but I honestly feel that owners hold on to unrealistic selling prices until no one bites and then shortsells or goes into foreclosure. This very thing happened to me on a house that I wanted, I was so mad because someone picked up the house for less than my original offer...much less. Agree, that many people are upside down on their loans and they have to sell for at least what they owe.
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tony, that is my point exactly. something is wrong when thats the case. How is it more productive of your money to clear and build than to pick up a brand new existing house that has never been lived in? there are some serious mixed signals in the market. the banks and government are continuing to distort the situation. the mls listing for puna are a joke! 190K for a house in ainoloa or HPP! are people crazy.. once these houses start going for <100k then the market will possibly clear... the problem is that, there are not enough people for all the houses..
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It would be interesting to hear a professional opinion on a current market and may be some predictions for the near future.
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would those be the same "professionals" that sold the loans and the houses at the super inflated prices, and didnt even bother to tell people STOP BUYING your are getting ripped off? well, i dont know what real value those opinions will offer. I can hear it: "nows a great time to buy" , "you'll never find better values" and on and on ... yet as evidence shows... its still a total RIP OFF!!!
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I am sure there are honest people in that field.
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There is one of these professionals who likes to post on this forum. Let's see if he'll post some predictions. He denied there was a bubble all the way down and still denies it today. Back in 2006 he said the market was just taking a little break and would come roaring back in a few months.
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Well if I were him I wouldn't for obvious reasons. He has not been treated real kindly with his advise by a few on this board. He can be hired and I think he is will share his expertise with anyone who seriously has interests in Real Estate in Kona. Just mho.
mella l
NO, really? Assume the best!
mella l
Art and Science
bytheSEA
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Alex, Markets go up, peak, and go down. The basic problem is that everyone seeks a realtor with a crystal ball. There is nothing new or unique with local housing prices being perceived to be high. If they are high - they don't sell. Market forces. Haste is rarely rewarded in real estate - patience is.
Puna got seriously overbuilt with spec homes, mostly by local contractors. Unfortunately they all seemed to build the same 3+2. A glut and one one wants to bite the bullet and take a big loss.
Assume the best and ask questions.
Punaweb moderator
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quote:
Originally posted by mella l
Well if I were him I wouldn't for obvious reasons. He has not been treated real kindly with his advise by a few on this board. He can be hired and I think he is will share his expertise with anyone who seriously has interests in Real Estate in Kona. Just mho.
mella l
NO, really? Assume the best!
Well he didn't treat people who disagreed with him too kindly either.
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Time to get over it and move on.
Assume the best and ask questions.
Punaweb moderator
