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quote:
Originally posted by Oneself
Thoughts on this property ?
http://www.clarkhawaii.com/property/2403...U-HI-96749
That is a nice place in comparison to some propeties I have seen in HPP that were going for more. The house looks well done and the property has nice extras but I would say go check out the albezia situation and make sure the roof is in good condition. Those are things that real estate websites avoid showing. One house I looked at was literally surrounded by albezia. I don't think it was HPP though, but I am pretty sure HPP has some straight up albezia forests. If you have a trusted realtor send them in to look. If not I can suggest the one I used. He will be upfront if there are major issues with the property. He was very good about that with us.
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Here is a bird's-eye view of the property.The neighboring house on 5th ave is right up against it.
http://www.bing.com/maps/default.aspx?cp...154.948974&style=o&lvl=19&tilt=-90&dir=0&alt=-1500
The "U" shaped house is the neighbor on 5th.
Re insurance, when I co-owned a vacant land parcel here, my policy on my home insured me for liability on the land. I think it was automatic, and it didn't matter where the land was.
So a person with a good homeowner's policy is going to have it better than someone without one for covering that. Absolutely you need liability coverage. They were not willing to cover any other aspects. Even a HO policy has extremely minimal coverage on landscaping damage; without structures there is nothing of substance to cover for loss.
Re property taxes, vacant land is not always affordably taxed. Our land was RS zoned, and the taxes were higher than on our RS zoned improved parcel where we lived. The improved parcel was eligible for an exemption, the land not. Our taxes on the parcel ran $1000 a year. There is some RS zoning in Puna, so pay attention to that.
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Just a small downside to albezias: they tend to fall on your house and/or your neighbor's house. Other than that, they're beautiful trees!
Tim
A superior man is modest in his speech, but exceeds in his actions--Confucius
Oh, I didnt realize they were trees, I had read that Albezias are over 150 different types of Shrubbery.
Posts: 1,168
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They are invasive "weed trees' that grow and proliferate very quickly. Another added worry and potential expense of owning undeveloped land here.
Tim
A superior man is modest in his speech, but exceeds in his actions--Confucius
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If you live in the house and get a 40 K homeowners exemption it'll be less for property tax. Then another 40 K if above 60 yoa and another 20 K above 70 yoa (like me). My market value for 2 Acres plus house in OLE is $174,100 and my taxable value is $8200 so I pay the minimum $100 a year.
OLE = Old Leilani Estates ?
