Increased land sales and development

[PaulW]

1st St (in HPP) is too close to the Ocean (as is Beach Rd), they are usually worth a lot more than ones further up. Maybe I'll check out some of the built-on lots on 2nd St.

[Kenney]

We were offered 200k cash for our unfinished 16 x 32 half wall and screened house, (with no plumbing and a very “tipsy” 11 year old temporary pole) in HPP in 2005. We paid 11k for the land in 1984, and ours was the highest priced lot on our road. All the other lots on our road we’re going for 4-7 k then. (We have lots of chocolate pudding like soil from the Mango trees) The house took another 70k just to to pass inspection, but the potential buyers didn’t care.

200k is just a down payment in Calif.

If I’d known what I know now about HPP (OA , BOD problems) I would have taken the money and run.

[PaulW]

That didn't take long, I saw two non-descript and still unbuilt acre lots on 2nd that both sold for 78K in July 2005.
And then in December 2005 they both sold for $125K ! (e.g. 150541340000 ) They're currently valued at 30K.

If we start getting prices like that again then we'll know the end is nigh.

[HereOnThePrimalEdge]

Maybe I'll check out some of the built-on lots on 2nd St.

Vacant 1 acre parcels on 2nd in HPP:
1999 - $10,000 to $12,000
2005-2006 - asking $100,000+
2017 - average listing was around $40,000-$55,000

Declare yourself a success: you'll be admired by those who've declared themselves failures. - Last Aphorisms

[ericlp]

Yeah... I'm waiting for the flow to come on back down the hill... Waiting for the volcanist to say. "It's not if but WHEN that lava crosses 130!" LOL!

Seriously, prices were tanked, esp, when major insurance companies pulled out, leaving the real estate "UNMARKETABLE". People were leaving in droves, and one could pick up a house for 10-20K bucks as some people lost their minds to all the hype.

[MarkD]

The Pahoa lava flow "some people lost their minds to all the hype"

That's a story in its own right, and a sad one. I remember the Trib reported on some people who really liked the community around Pahoa (they lived in that subdivision above the town) abruptly selling and talking of moving off the island.

I wonder if they did so. Or where they relocated to if they stayed here.