Puna land prices?

[Lee G]

Think Puna land prices are high? Out of curiousity I checked land prices in North Kona for a 10,000 - 15,000 sq. ft residential lot and they start out around $300,000 and go up from there. South Kona a little cheaper but not much. Makes Puna land prices look dirt cheap, if your sitting on the fence it may be the right time now to buy land in Puna.
JMHO
Lee G

[John S. Rabi]

I just checked it yesterday, the lowest priced lot in Kohala is $315,000 in Kapaau. I have been saying it for a long time, land prices in Puna are vastly undervalued. We had a huge price increase in the past few years and it will continue, we are just having a pause now. They expect 50,000 people to move to Puna in the next 10 years and look at all the commercial activity there.

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

[adias]

It’s been almost a year since I was last on The Big Island. Am I imagining or are house prices dropping in Puna?



Ajit



Edited by - adias on 07/25/2006 05:16:54

[HADave]

Hey Goose, I thought we lost you how great to see you back in the fold. It is a slow go for us too, keep getting the old wagon wheels stuck in the muck. Hope by the time we get to the Pacifc I've got strength left to paddle.....I think Puna Land is like gas prices, up and down till people get use to the idea of up and then one day they will just be up all the time just like gas prices. hahahaha Anyway hope you stick around.... Seize The Day

Aloha HADave

[adias]

Yo maverick ,

Good to hear from you again. It’ll be a while before we can start anything, got a daughter to send to college. We are thinking we should just buy a place since the prices seems to have come down since last year.

Wonder if it's the interest rates going up or too many spec houses that's causing the downturn. I notice people are selling their new houses before even completed building.

Some of these places jumped 100/200K in just a year or two. Is this an adjustment or anomaly? I guess only time will tell.

Ajit




Edited by - adias on 07/25/2006 06:06:26

[loffelkopffl]

i know a builder who had to lower his spec house prices in hpp twice before he got an offer on one of them. he has six more in the pipeline, we'll see how those go. of course the real estate agents are always saying how cheap prices are, lol!

[adias]

Yea, what’s confusing is that this area really does not have an economic base to justify these prices No great beaches, dinning out or well paying jobs. It’s not like someone suddenly found gold there.

It’s for a special breed of people who wants to get away from it all and appreciate the simple life, just hope it stays that way; that’s the real value of the place.


Ajit

[Lee G]

Ajit,
Good to see you on the forum again. Remember my neighbor in Orchidland across the street with the beautiful gardens. I remember you really liked his place. Well, he is now selling email me for details if interested.
Lee

[adias]

Hey Lee,
Good to hear from you. I guess you guys must have moved into your new place by now. Decided on which place to keep and which to sell yet?

We are going to hold of till December before we jump into anything. Since I’ve locked in my two acres in Orchid Land I can better afford to risk sitting it out and hope the prices adjust in a reasonable manner.

I suppose in the long run prices have to go up, but in the short term although speculators can bury their extra dollars in land and wait it out, different story with houses.


Ajit

[Lee G]

Last time I looked there was over 600 homes up for sale in Puna, Good news for buyers because they have plenty to choose from any many are brand new homes. What a differance from last summer when things were moving so fast. That's Life...