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Any thoughts on what the eruptions and earthquakes will do to real estate prices short term in HPP? Are we far enough away to be immune? I am thinking that buyers interested in the Pahoa area might shift their attention to northern parts of Puna, such as HPP.
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It's not so much the lava, but rather the smoke. People with respiratory problems will suffer, and it's probably not good for children either. (or anyone else for that matter)
Mainland news is making it appear as if the whole island is going the way of Krakatoa.
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Nobody is immune, but It makes sense to me that lots of people will be looking for someplace to be, away from Leilani. I would not be surprised to see plenty more interest in the vacant lots for sale around us.
It kind of smells like the remnants of Krakatoa today.
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During the 2014 flow the insurers stopped issuing any new policies in LZ1 or 2 which shut down the mortgage process. Since few people have enough cash on hand to buy a house all the sales were in LZ 3+, which includes HPP. I don't remember specifically what happened to HPP but here in Orchidland the sales appeared to increase.
But this is a different monster. 2014 was a different flow, not a series of new eruptions. I imagine rentals will do great- there will be a lot of people looking for housing. Sales, probably not so good.
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The prooperty values fell quite a bit. Only now have they gone back up to pre 2014
Prices in hpp. Call Ed Torrison at hilo bay realty. He has office in pahoa and helped
Us to get our house in hpp, very trustworthy 987 3215
Dan D
HPP
HPP
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Stinks here in HPP by the ocean. Winds are from the southwest... But winds are suppose to change this morning from the east which will clear this out
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"Buy land, they're not making it anymore.”
-- Mark Twain
Portion of Hawaii’s drinking water that comes from underground wells : 9/10
Gallons of raw sewage that leak into the ground from Hawaii cesspools each day : 53,000,000 - Harper's Index
"I'm at that stage in life where I stay out of discussions. Even if you say 1+1=5, you're right - have fun." - Keanu Reeves
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I was kinda thinking the opposite. Buy land close to the irruption for a better deal, then wait it out (if you have that option), if you don't...well, then maybe buy somewhere else.
Tho, buying land anywhere on this island is a risk. Hilo is overdue. Who knows really. I was once looking at property in Leilani. Depends on how much risk you are willing to take. A lot of people including I, felt that Leilani/Nanawale were high risk just because they were in the rift zone. Maybe prices will be kept in check, but for how much they will be lowered is anyone's guess as just because the properties are 10-20' under lava ... they still hold some sort of value.
As for HPP? Shrug, I suppose if it keeps investors at edge and away, the lots that only took weeks to sell could now start taking months. It's anyone's guess what may or may not happen in the real estate game. I am sure there are some investors just waiting to jump at property being sold close to the new flow in hopes it will stop, and in six months later, after the roads have been opened up and people forgetting about what happened.... prices will start shooting back up.
Maybe the better question would be to talk to a volcano expert to find out how long this eruption might last?
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When we were looking for property in 2011 I did a lot of research and (I wish I had the link but have forgotten where I read it) an article talking about lava zone hazards talked about two things, areas that could be inundated with lava, and areas where lava could actually erupt from. It listed not just the east rift zone, but Leilani specifically as an area where lava would erupt from on a regular basis. I scratched it off the list of areas we would consider.
