Who is puling their home off the market? (sales, real estate)

[pbmaise]

So I heard Big Island sales, and sales prices are both up. 1/3 of homes were sold in Puna area.

Don't you just hate to sell when the market is just beginning to rise?

So question.

Who thinks this is a long term trend?

I think when the Midwest wakes up and finds it is covered in snow in late September a lot of people there are going to start wondering if Winter 2014 2015 will be worse.

And guess what? It will be.

Just follow the weather down under.

It is hot hot hot, during their Winter. That spells an even hotter Summer for them and that in turn will draw the Jet Stream South.

Oh well just idle speculation.

Oh...BTW did anyone reread my blog about why the Big Island isn't hit by hurricanes?

I live part time in the Philippines now. Now we really know what a hurricane/typhoon is!

[hotzcatz]

Technically, Iselle was "just a tropical storm" when it hit the islands. It pretty much touched land and disintegrated. However, for the folks who lost their homes and power, they probably don't care that it wasn't a "real" hurricane. I'm wondering if the insurance companies are not going to pay out on Hurricane insurance by claiming it wasn't "real" hurricane damage?

Did you revise your blog now, about hurricanes not hitting the island?

I'm surprised at the sales in the Kapoho area, there's still sales happening there according to a real estate website I looked at. Folks are listing houses in the area, too, they may not want to be there for the next hurricane.

Traditionally, the Hawaii market used to run in a seven year cycle from peak to peak. Last time it missed the turnaround time and seemed to fall for seven years. I haven't a clue if it is going to go back to it's old curve or make a new one so it's pretty hard to try to time the markets anymore. I don't know if folks are really going to think about market trends when selling their house or if other mundane things - such as a job relocation - would be more of a driving factor.

How many folks here even have a house on the market at the moment?

[pbmaise]

Hurricane insurance privides zero coverage to those homeowners.

Read my blog and the paper.

One house, located on WaiOpae Road, next door to the home of former Mayor Harry Kim, was knocked off of its concrete foundation and pushed back about 10 or 15 feet. Another on Kaheka Road appeared to be a loss, its roof collapsed to the ground on one side. Sanford said he was aware of about three or four homes that were dealt crushing blows from the surge and accompanying waves.

That is flood damage. I have lent to these homeowners in a flood zone and we required flood insurance.

How many homes had more WIND damage than 10 years or more hurricane insurance payments?

Your point is excellent. Once Iselle is downgraded a standard extended coverage policy should pay out.

Why should Kanas be covered for higher winds?

[pbmaise]

This report is important to read.

"The wind came first, blew out windows and lifted and twisted the roof. That weakened the lower block structure and then the waves came and dealt a knock out punch."

What kind of idiots are sitting in their homes, in known flood zones, when a storm surge is coming?

What , after a strong earthquake will they make a cup of tea?

The second item to note is the windows blew out. This factor isnt explained enough so forward this post on.

The single pane glass windows in Hawaii are not rated for sudden large pressure changes. The more doors and windows open the better.

Third. A block constructed home is very weak. It is highly unlikely this home had strong hurricane clips attaching the roof.

So yes, this house may have been damaged by wind first, clearly flood damage was worse.

[pbmaise]

But any hurricane policy will likely not pay owing to fact they can say the flood did that.

Also people...why in the world was anyone "trapped" in Kapoho when everyone knew going to high ground is prudent. Further, everyone knows those are African trees along the access road. One limb from one tree blocks the road.

[mdand3boys]

Originally Posted by pbmaise

...What kind of idiots are sitting in their homes, in known flood zones, when a storm surge is coming?....

Probably someone who believes your ridiculous belief that a hurricane cannot hit the Big Island?
I am just happy that no one who may follow your no-hurricane belief was hurt or killed.