Land Prices Get Even Cheaper

[EightFingers]

E-mail me privately and I will send you the monthly data for the next six months.

I'd love to get in on that too!!!!

[John S. Rabi]

Anyone interested in those reports feel free to e-mail me privately. The reports are in Excel format, they are monthly and three pages per month.

Aloha,
John S. Rabi, GM,ARB,BFT,CM,CBR,FHS,PB,RB
808.989.1314
http://www.JohnRabi.com
Typically Tropical Properties
"The Next Level of Service!"

[jdirgo]

There's great deals on both land and houses. Just keep in mind that you should have a long time-frame. If you're looking to "flip", don't bother. If you're looking to "buy and hold" for the long term, there's great deals out there.

Will it continue to decline, frankly, I don't know. But I do know that for people looking to buy, there's good deals out there. Move-in-ready houses in HPP for the low 200's? Good deal.

John Dirgo, R, ABR, e-PRO
Aloha Coast Realty, LLC
808-987-9243 cell
http://www.alohacoastrealty.com

[macuu222]

Bought mine in HPP for $6,000 25 years ago! I don't think we'll ever see acres that low again unless a lava flow goes through the park.

[Adam79]

I'm curious, what's the cost of owning an undeveloped lot that you aren't living on? Just the property taxes? And how does a typical land mortgage work? I seem to remember somebody saying 5 years is the norm. I've kicked around the idea of picking up land a little larger and farther down the hill (where it stays warmer). I'm just wondering if it can be a source of money drain besides what it cost to purchase.

[John S. Rabi]

Property tax and HOA Dues and Road Maintenance Fees (if applicable) are only your costs, so it's not a biggie. Mortgage?! That's a different animal, good luck getting a conventional loan on land in Puna. You most likely will need to look for seller financing.

Aloha,
John S. Rabi, GM,ARB,BFT,CM,CBR,FHS,PB,RB
808.989.1314
http://www.JohnRabi.com
Typically Tropical Properties
"The Next Level of Service!"

[JerryCarr]

Just out of curiosity, has anyone researched the drop in median land and home prices from the height of the bubble in 2005 to the most recent reporting period?

Cheers,
Jerry

[hpp4me]

Here are December numbers:
http://www.localhawaiirealestate.com/Haw...20LAND.pdf

A lot on 3rd avenue went for only $35,000. Ouch!

[John S. Rabi]

quote:

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Originally posted by hpp4me

A lot on 3rd avenue went for only $35,000. Ouch!

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Just remember, it was $10K eight years ago.

Aloha,
John S. Rabi, GM,ARB,BFT,CM,CBR,FHS,PB,RB
808.989.1314
http://www.JohnRabi.com
Typically Tropical Properties
"The Next Level of Service!"

[bystander]

quote:

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Originally posted by John S. Rabi
Just remember, it was $10K eight years ago.

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That's a very Pollyannaish way of looking at things. At least you aren't putting your foot in your mouth by saying things like "bubble? bubble my but" anymore.