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Decline in Real Estate
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10-11-2006, 09:25 AM
Fast and cheap is the most expensive IMHO.
Aloha, John S. Rabi, ABR,CM,CRB,FHS,PB,RB http://www.JohnRabi.com Typically Tropical Properties 75-5870 Walua Road, Suite 101 Kailua-Kona, HI 96740 (808)327-3185
10-11-2006, 09:55 AM
Donald Trump Jr. was interviewed on Fox News today and when asked "Where in the U.S is the real estate market still hot?" the first word out of his mouth was "Hawaii".
10-11-2006, 10:50 AM
The Trump is building a condo tower in Honolulu where the price of a studio approaches $1M. Of course he says the Hawaii market is hot. It's bad for sales for people to think otherwise. That said, I still think the current easing of prices on the BI is a correction and not a crash.
Aloha, Jerry
10-17-2006, 02:38 AM
Maybe property owners who were cosidering selling, will speed up the process due to the earthquake.
If insurance companies, do like they did in Florida, earthquake insurance will go up in price here, hopefully not as much, as property insurance rates have gone up in Florida, (due to the hurricanes) they are so high now, that many people can no longer afford to pay it, and are selling their homes at what ever they can get, just to move out of the state.
Always do what evers next.
10-17-2006, 05:08 AM
Some of the media and some of my friends calling from the mainland have commented on how LITTLE damage we had from the earthquake. I suppose the quake will scare a few mainland buyers off, but most people with a real dream of living here will proceed with their plans. The insurance issue, however, is something that could really affect the affordability factor. It will be interesting to see how that plays out.
Aloha, Jerry
10-17-2006, 05:12 AM
I already received several e-mails from investors wanting to buy because of the earthquake.
Aloha, John S. Rabi, ABR,CM,CRB,FHS,PB,RB http://www.JohnRabi.com Typically Tropical Properties 75-5870 Walua Road, Suite 101 Kailua-Kona, HI 96740 (808)327-3185 
10-17-2006, 08:19 AM
Why would they want to buy because of an earthquake? Do they think there will be "fire sale" prices or do they just want to watch the earth dance? How odd!
Kurt Wilson
10-17-2006, 09:56 AM
I have one client who told me yesterday, she was adamant that she will cancel her flight over next week if we are still having aftershocks.... Did i mention she lives in Cali about 2 miles from the San Andreas fault??????
Make sense? nope. I can see there being some people who will quickly and inexpensively sell to get out, and will be happy there is someone to buy. There are always those brilliant ones who buy high and sell low, just because of fear.
10-17-2006, 12:40 PM
Aloha Adjit,
You might want to ask your earthquake insurance question on a new thread as this thread is read by a limited number of people I believe. Perhaps you might get a better response. mella l
mella l
Art and Science bytheSEA
10-17-2006, 03:46 PM
Yes, people do buy right after earthquakes because the value of houses near the epicenter go down. There will be hundreds of aftershocks for months to come. The same thing happened in Northridge , CA. Lot's of damaged homes, and a lot of traumatized people who want to sell and get out. To really understand this, ask yourself this question: Did you think you were going to die during the earthquake? If not, then you may have not had the same experence that some people had. It took years for people in L.A to get over Northridge, and people left Southern California in droves.
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