Decline in Real Estate

[Hotzcatz]

I dunno about prices, but it would seem the amount of houses sold has drastically decreased, at least according to our Terminex guy. He was here to give us a quote on tenting our house - just maintenance, not a sale - and he said they used to do an average of 400 or more houses a month. Now they are doing around 150. I don't know what percentage of their business was for house sales and what percentage is for maintence, though.

[Fishboy]

While not dealing specifically with Puna, Robert Ferrari posted this information on the Kona side and I thought it would be interesting to this discussion:
==============================
Moderator: I have deleted the quote from Konaweb. I
do not approve of lifting someone else's statements
out of context and without approval. Please feel free to state your own opinions and you may refer people to other sources. Aloha, RT

===================================

Me again: These are interesting statistics and a wealth of information. I hope he doesn't mind my copying.

A hui hou,
Brian (Fishboy)

Edited by - fishboy on 08/25/2006 01:15:14

[mella l]

Most of us read the KW also, so seems redundant to repost it here. I don't know if RF would mind or not that he was copied and posted here, guess he could be asked that question as he would be the only one to answer for himself? The east side and the west side have mostly different issues to learn about and deal with from what I read. Aloha, Mella

mella l

[Keith]

I have been checking around in the HSRE area and the prices for good lots are staying stable so far. And the same for our house in California maybe about a 5% drop for a quick sale in 2-3 wks.

Keith

[Carolann R]

Keith,

We bought a house in HSRE in June...it dropped 50,000 since it listed late last year. We felt very good about the price although it still is a little high JMHO.



Carrie

"The opportunities to reach into the lives of others in an inspiring way arise in countless ways every single day..." Dr. Wayne W. Dyer

http://www.hellophoenix.com/art

[Tahunatics]

Fasten your seatbelts. The times they are a changin'...

http://money.cnn.com/2006/08/23/news/eco...cnn=yes%5D

http://www.marketwatch.com/News/Story/Story.aspx?dist=newsfinder&siteid=mktw&guid={E18E95AF-DBFF-4EE4-ACF7-530A3CD714D3}&symbol=

http://www.iht.com/articles/2006/06/07/b.../gspan.php

[Tahunatics]

PS You have to copy and paste the whole url for yesterdays Market Watch story:

Recession will be nasty and deep, economist says Housing is in free fall, pulling the economy down with it.

[Keith]

OK what I was looking at was raw land not improved with a houses. I don't know if good property raw will dip as much as improved land percentage wise.
Some people are telling me the bottom will be in 08

Keith

[punafish]

Everyone would love to be able to predict the ups and downs of the real estate market. I don't think it's wise to base the timing of any real estate purchase on the advice of a real estate fortune-teller. No one is smart enough to know when prices will bottom out.

It's almost become a cliche in this forum but it's true: the most successful real estate investors are focused on the long-term. In regard to Puna real estate, I agree with the RE Johns on this forum: whether prices go up or down in the short-term, it's going to be a bargain in the long-run. Obviously, this justification is most appropriate for folks who want to be part of the Puna community on a long-term basis.

It didn't take a newspaper article for me to know it was a buyer's market (We watch the market closely - mostly out of morbid curiosity.) I'm seeing potential deals waiting to be done even today. I may end up buying this year, 2 years from now, or never. But I'll never base the timing of my purchase on speculation; it's all about finding a property I love and can afford to own. The rest will take care of itself.

Aloha!

Tim

"My baby, she run away with the garbage man...please come home to me darlin', my garbage can is overflowing." Muddy Waters

[Keith]

I don't have that luxury I will need to close one deal pretty soon and the next one I have some time to look. We are only looking for a couple good lots


Keith