Your Favorite Subdivision!

[Jody]

quote:

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mahalo Judy. Do you live there? I was curious how hard it is to get home insurance?

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I've owned a property there since 1999 (it's currently in escrow). Insurance is not a problem. We use State Farm. There are companies that will insure in lava zone 2 (and in lava zone 1). John Dirgo could point you in the right direction.

Aloha,
Jody

[John S. Rabi]

Only HPIA will insure in Lava Zone 1, up to $250,000 house value. The premium is $1,200 per year. (Excess insurance can be obtained from Lloyds.)

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

[JerryCarr]

Aloha, Beachboy. As noted in another thread, the Hilolani subdivision was offering new Fords (about $20,000 value, I think) as a sales incentive at one point. I don't know how many cars they actually gave away or if they eventually sold all the homes. That is the only systematic give-away that I have heard of, but I seem to recall seeing one or two ads where the seller was thowing in a somewhat high-end TV. And of course prices have become more negotiable than in the recent past.

Paying buyers' loan and transfer costs to make a sale have become more widespread locally, according to a realtor friend. Incentivizing and paying costs have a way of distorting statistics since the concessions are not reflected in the sales prices reported. When such measures become deep and widespread, there can be a significant disconnect between the reported median prices and what the sellers are actually getting. I don't know if this is the case on the Big Island, but it has been reported in some mainland markets.

Despite all this, my very amateur opinion remains that the real estate market on the Big Island is in a correction or breather, and not a crash. The fundamentals underlying the market have not fallen apart, IMHO.

Cheers,
Jerry



Edited by - JerryCarr on 11/14/2006 09:27:58

[John S. Rabi]

They were giving away Mazdas at Discovery Harbour, but they raised the prices by $20K prior that. Sellers paying Buyer's closing costs has been around for a long time but it's not really a motivating factor here but helping Buyers qualify. Since lenders limit the amount Sellers can pay and what they can pay for, it's such a small percentage of the sales price that it makes no difference in the sales statistics.

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

[Beachboy]

quote:

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Only HPIA will insure in Lava Zone 1, up to $250,000 house value. The premium is $1,200 per year. (Excess insurance can be obtained from Lloyds.)

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

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is there a good map on the internet that shows Puna's subdivisions, and what lava zone they are in?

[adias]

Aloha BeachBoy,

Link below gives an "SUBDIVISION OVERVIEW" including lava zones.

http://pahoaproperties.com/buyers.html

[G. Leis]

This website has one of the best set of Big Island map links I've come across.

aloha,
Gene

_______________________

Quando Omni Flunkus Moritati

[mella l]

Aloha All,

Recently I heard someone refer to the sub divisions in puna as substandard sub divisions. Would someone offer a definition of substandard sub division? Mahalo

mella l

[John S. Rabi]

No water, dirt roads and maybe no phone and power either. Isn't that substandard enough? The County of Hawaii always refers to those subdivisions as such.

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

[Carolann R]

Haahaaa, Gene! Like your quote (?)...very funny. Oh man, the Hamakua Coast...what a gobsmackingly pretty view.

Carrie

"To be one, to be united is a great thing. But to respect the right to be different is maybe even greater." Bono
http://www.hellophoenix.com/art/dreamhawaii.Cfm