Property value estimates

[My 2 cents]

I am assuming that the deeds to these properties are similar to the ones on the other islands but perhaps they are not. Perhaps there is a "lava clause" or maybe an ocean boundary that has more definite wording than "high water mark" or "vegetation line".

[kalakoa]

County is in the middle of purchasing this lava land to preserve open space:

http://qpublic9.qpublic.net/hi_hawaii_display.php?county=hi_hawaii&KEY=140020220000

http://www.hawaiitribune-herald.com/2018...pen-space/

$2.7M / 284 acres = $9507/acre.

Somehow, this 1084-acre parcel is only worth $249K ($230/acre).

http://qpublic9.qpublic.net/hi_hawaii_display.php?county=hi_hawaii&KEY=140020020000

The next large parcel above that ($885K / 192 acres = $4609/acre) is tax-exempt:

http://qpublic9.qpublic.net/hi_hawaii_display.php?county=hi_hawaii&KEY=140030130000

would property assessments or valuations decrease?

It's less than clear what "valuation" even means anymore.

[HereOnThePrimalEdge]

County is in the middle of purchasing this lava land to preserve open space:

The county doesn’t know if it can stop the sale?
What about doing what everybody else does, withdraw the offer & let seller keep the earnest money. If seller sues, the County can ask seller what they consider fair market value on the land, and tax it at accordingly.

[kalakoa]

What about doing what everybody else does, withdraw the offer & let seller keep the earnest money.

"everybody else" can't just print more free money.

[Obie]

This property includes what was once the tidepools.

When you looked out to the ocean from the road, the property extended out to the surf. The state never got around to claiming ownership.

All of that area could be a new subdivision if the lava quits.

[HereOnThePrimalEdge]

According to one East Hawaii realtor, the real estate market in Puna is red hot:

"We already had a housing shortage for quite some time, and it's gotten worse. We have a lack of inventory, a lack of supply, a great demand. We're seeing prices going up, sales happening faster, more multiple offers. Especially in housing under $400,000 dollars, that's the greatest demand. Anything around $300,000 dollars gets snapped up. We're talking how many hours is it on the market, versus days."
http://www.hawaiipublicradio.org/post/la...ate-impact

Is the jury still deadlocked? The odds that natural climate variability can account for the magnitude of the temperature changes over the course of the satellite record are roughly five in a million, researchers report. - Science, July 19, 2018.

[MarkD]

It seems to be a somewhat paradoxical situation: Raw land inexpensive, relative to the price of lots with homes. In part because evacuees are competing for a finite number of homes?

[HereOnThePrimalEdge]

“Well, Volcano’s dead,” said real estate agent Pat Halpern
...
Puna District, where Volcano is located, has suffered less of a downturn than may be expected.
...
Hawaiian Paradise Park, Orchidland and Ainaloa are particularly active markets.
...
Pa predicted that eventually, Pahoa may become “the new Volcano Village,” attracting retirees and visitors alike with its close proximity to the lava flow.
http://www.westhawaiitoday.com/2018/07/2...nd-market/

Pahoa, the New Volcano Village? That's an interesting prediction.

“Generalized intelligence and mental alertness are the most powerful enemies of dictatorship and at the same time the basic conditions of effective democracy.” - Aldous Huxley