Property Values

[Orchidlandguy]

Very well put. I agree with your astute assessment.
I am hoping this current stall is like the flow that stalled above Hilo.

[dakine]

When talking about the Lava Zone Map one should probably study it. A copy of the original publication is here:

http://pubs.usgs.gov/mf/1992/2193/mf2193.pdf

In which it is noted that:

This map shows lava~flow hazard zones for the five volcanoes on the Island of Hawaii. Volcano boundaries are shown as heavy, dark bands, reflecting the overlapping of lava flows from adjacent volcanoes along their common boundary. Hazard-zone boundaries are drawn as double lines because of the geologic uncertainty in their placement. Most boundaries are gradational, and the change In the degree of hazard can be found over a distance of a mile or more. The general principles used to place hazard-zone boundaries are discussed by Mullineaux and others (1987) and Heliker (1990)....

And the zones themselves are:

Zone 1 - Includes summits and rift zones of Kilauea and Mauna Loa volcanoes, where vents have been repeatedly active in historical time.

Zone 2 - Areas adjacent to and downslope of zone 1. 15-25% of zone 2 has been covered by lava since 1800, and 25-75% has been covered within the past 750 years. Relative hazard within zone 2 decreases gradually as one moves away from zone 1.

Zone 3 - Areas less hazardous than zone 2 because of greater distance from recently active vents and (or) because of topography. 1-5% of zone 3 has been covered since 1800, and 15-75% has been covered within the past 750 years.

Zone 4 - Includes all of Hualalai, where the frequency of eruptions is lower than that for Kilauea or Mauna Loa. Lava coverage is proportionally smaller, about 5% since 1800, and less than 15% within the past 750 years.

Zone 5 - Area on Kilauea currently protected by topography

Zone 6 - Two areas on Mauna Loa, both protected by topography

Zone 7 - Younger part of Mauna Kea volcano. 20% of this area was covered by lava in the past 10,000 years.

Zone 8 - Remaining part of Mauna Kea. Only a few percent of this area has been covered by lava in the past 10,000 years.

Zone 9 - Kohala Volcano, which last erupted over 60,000 years ago.

They sound linear.. i.e. 1 through 9.. but they are a bit convoluted. It's best to study the map itself and read the description provided with it.

[HereOnThePrimalEdge]

This article doesn't address home values in Puna, but does describe the recent drop in home sales:

Oct. 06--Home sales in Puna plummeted nearly 23 percent in September after Tropical Storm Iselle blew through Hawaii island -- and they continue to remain sluggish as a river of 2,100-degree lava cuts its way toward Pahoa.
http://insurancenewsnet.com/oarticle/201...DLXXxZupAY

[leilaniguy]

A lot went on MLS today in Nanawale for $2000. Haven't seen prices that low in 12-15 years.

[pahoated]

It's getting kind of simple, Lava Zone 2 and Lava Zone 1 are going to be basically cash, nobody will finance, and probably no more new home insurance policies for the near future. The real indicator will be October. Construction, and especially any sort of development, in south Puna is essentially dead.

"Mahalo nui Pele, 'ae noho ia moku 'aina" - kakahiaka oli

[lavarat]

quote:

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Originally posted by lavarat

There are already 209 properties for sale in HPP including 113 houses/residential properties according to the Zillow site. It will be interesting to use these numbers as a base to see if the numbers go up or down in the following days/weeks/months.


http://www.zillow.com/hawaiian-paradise-park-keaau-hi/

---

As a comparison to my above post on Sept 28, there are now 247 total properties including 131 residential properties for sale in HPP in the zillow site.

[kalakoa]

any sort of development, in south Puna is essentially dead

It already was -- so the "right thing" happened there.

[snorkle]

This is nothing new. After Kalapana, you could get a lot in Leilani for $7000.

Wait ten years, the flow changes location, people forget or don't know.....Leilani lots are up to $80,000.

Wait ten more years, the flow changes again, prices plummet.

The lack of development in Puna Makai is exactly what makes it attractive to a lot of people.

Get a deal now, build modestly and modular, enjoy Paradise!

[leilaniguy]

I bought a lot in Leilani in 2000 for $4500, next year one in HPP for $6000. The good old days.

[HereOnThePrimalEdge]

Location, location, location.

Get 'em while they're hot.