Puna land prices?

[bystander]

"It would be good to hear an expert opinion from both John Dirgo and John S. Rabi on this issue.

As real estate professionals both should have hard numbers to validate the Real-Estate situation in Puna."

I can tell you what they'll say: "this is just a pause", "prices are still greatly undervalued", "you can't find cheaper land in Hawaii", along with liberal use of the words "demograhphics" and "baby boomers".

As I'v posted before, I would be more interested in the opinion economists and others not directly involved in realestate.

Also I never said their opinions were unwanted just not trustworthy. Actually I want to keep hearing their opinions and how they seem to change with the realities of the market. A few months ago they were saying prices will keep going up. Now they are saying this is just a pause. What will they be saying next?

[bystander]

"Hey bystander, how do you think RE's do comps? They compare current pricing on lots available, and sales trends in previous months. (Boys, correct me if I am far off.)"

What does that have to do with anything? Did I ever say that REs just make up whatever price they think they can sell at? Of course not but the higher the price the more commision they get. High and higher prices are in their financial interests. Therin lies the bias and conflict of interest.

"I wouldnt ask my grocer to tell me if land pricing is going down or up or what trends they are seeing."

You wouldn't ask your grocer what the price of food will be next year either. It would be in his financial interest to inflate the predicted price so you buy lots of groceries today. That's what is called salesmanship, what all people in sales do.





Edited by - bystander on 07/25/2006 12:42:12

[adias]

No need for anyone to get angry over this, we are just shooting the breeze.

It’s an interesting situation there is somewhat of a conflict of interest, but lets hear what they have to say anyway ;-)

Ajit



Edited by - adias on 07/25/2006 12:48:24

[Carolann R]

ROFLMAO!! Cat - so funny - "The Johns" hehehehe...



Carrie

"The opportunities to reach into the lives of others in an inspiring way arise in countless ways every single day..." Dr. Wayne W. Dyer

http://www.hellophoenix.com/art

[Kapohocat]

Thanks bystander for your opinion... whether I agree or not, it is the Punatics creed to have a widely varied set of ideas and beliefs! Thank you for playing the devil's advocate and reminding us all about "IMHO"!

[Punamom]

I've been watching the RE market for 5 years now (obsession? yea. but I'm looking for my dream property or a great deal).
The market seems directly tied to interest rates they go down its a land grab they go up stuff sits.now with rates on the incline but gradually (up - down, level out)stuff sits until rates go down a .25 or more then you see everything under contract(except for the really good deals they are gone in a day or two no matter what).This doesn't make sense because it usually takes longer than a day to get something under contract and lock in a rate but I see this trend without a doubt.
The one thing that really worries me with our saturated market is what will happen to prices it any of the new subdivisions get built?(hope they have a really good marketing plan).
I am curious as to what type of buyers are out there now, still investors? Johns can you answer that? And how come you have a story about the market but won't let us all see it?<wink><wink>

[bystander]

Here's an article predicting dire times in the realestate market. I don't agree completely with this view either.

http://www.twbookmark.com/jrun/authorslo...21754.html

[John S. Rabi]

Just for the record, I still say the overall prices will go up and you can call me on it in 2-3 years. I had the "famous bet" on KW three years ago, most everybody laughed at me when I recommended subdivisions like Leilani, HPP, RHE, etc. Guess who is laughing now? The article I mentioned is a PDF file, therefore, I can't post/paste it here.

(BTW bystander, I have seen many real estate agents come and go on various forums. They all left once they realized there is no way to make a living on forums. The ones who stick around are the ones who are not there for the sales.)

Aloha,
John S. Rabi, ABR,CM,CRB,FHS,PB,RB
http://www.JohnRabi.com
Typically Tropical Properties
75-5870 Walua Road, Suite 101
Kailua-Kona, HI 96740
(808)327-3185

[Rob L]

There are several reasons why Puna is the most affordable place in the State. A lot of people like the dryer leeward side of the islands. But, the big reason is that Madam Pele could inundate almost any lot in Puna at any time. If she does, I think we can see interest in buying go way down and with it prices. So long as Madame Pele is happy with the current Pu'u O'o erruption harmlessly flowing through Volcano National Park, Puna prices should be more related to interest rates. But as soon as the earth opens up, all bets are off. Still, for people who actually want to live in Puna, the chance of being in the path of a lava flow in their life time is pretty small.

Aloha,
Rob L

Edited by - Rob L on 07/25/2006 14:48:50

[Punamom]

o.k bystander very SCARRY story but how much money would he make writing a book that says everything is o.k.?<wink>
I guess none of us really know whats going to happen so thank God for higher powers.
I think its a good time to buy owner occupied homes just because interest rates are low and the lower they are the more buying power you have.
I was wondering since I'm not old enough to remember when, we had that whole gas crisis and high interest rates thing going on in the 70's and 80's? does that seem to be happening again?I just remember everyone being poor.
I was also wondering if the japanese are still investing in HI or are they just unloading?