How has volcano eruption affected Big Island real estate market? (if any) (Waimea: air quality, area)

[Grassyknoll]

Originally Posted by whtviper1

I don't understand that argument.....

Uh, I get the argument.

And this kids, is why uncle Grassy has a drinking problem....

[Nyfinestbxtf]

Originally Posted by whtviper1

Some get inheritance / some get money from parents.

A couple of misconceptions though that you have.

Hawaii ranks low in poverty compared to most states (about 9th) and ranks in top 3 of households with over a million in assets excluding primary residence and retirement (whose primary residence is Hawaii). Hawaii also has the lowest income wealth gap in the nation. There is a lot of “old money” here. Think about the wealth of people who bought in the 70s, 80s, and even early 90s whose houses are paid off and the wealth it has generated.

Without looking at a mortgage calculator- I’m fairly sure a couple each making $60K can get a $500K mortgage.

The mortgage would be about $3100 with 5% down. I guess that is not so bad to live in Hawaii. At least most the activities and things to do are free.

[Nyfinestbxtf]

Originally Posted by Grassyknoll

Because many of these homes have multiple generations living in them and are passed down within local families. They were just working class family homes before the neighborhoods turned into $500k neighborhoods. You can see this in a number of areas of each island.

Gotcha. That makes sense. But that still doesn’t explain the lack of upkeep in these homes.

[Grassyknoll]

Originally Posted by Nyfinestbxtf

Gotcha. That makes sense. But that still doesn’t explain the lack of upkeep in these homes.

Just not a priority for a lot of local families. Very little "keeping up with the Jonses" here, and that translates to appearance of homes. And also, mainlanders tend to see a lot of junk cars and stuff in front.of houses. But on a remote island, those junk cars become your own little pick-n-pull.

[Open-D]

Originally Posted by Nyfinestbxtf

You would include LZ3? There is a lot of area on the Kona side that is in LZ3. I would never consider purchasing in LZ1 or 2, but 3 I would.

I agree with you on that.

[Open-D]

Originally Posted by Grassyknoll

Just not a priority for a lot of local families. Very little "keeping up with the Jonses" here, and that translates to appearance of homes. And also, mainlanders tend to see a lot of junk cars and stuff in front.of houses. But on a remote island, those junk cars become your own little pick-n-pull.

There is a very big difference between keeping up with the Jonses, and keeping up with repairs and maintenance.

[Nyfinestbxtf]

Originally Posted by Grassyknoll

Just not a priority for a lot of local families. Very little "keeping up with the Jonses" here, and that translates to appearance of homes. And also, mainlanders tend to see a lot of junk cars and stuff in front.of houses. But on a remote island, those junk cars become your own little pick-n-pull.

I get with what you are saying in regards to “keeping up with Jone’s,” but that is not what I’m talking about. My wife and I owned a home in a poorer neighborhood and there was definitely no keeping up with the Jone’s there, but people kept a certain amount of maintenance on their homes so that they wouldn’t collapse. Looking at some homes for sale online, not “keeping up with the Jone’s” is taken to a whole other level. As almost there is a competition of “not keeping up with the Jone’s.” Don’t get me wrong, I see the same stuff on the mainland, but these houses are also not selling for $500K. With that said, I’m just asking out of curiosity. It’s interesting to me. It seems on the google street view, some of these neighborhoods look more run down than the neighborhoods we drove around on the BI. Most of the run down homes we saw was mostly limited to Puna. We leave for Kauai in about a month and it will be fun to explore. I know my wife is hoping to land a position on Kauai, but she needs to see for herself that the living arrangements are not as accommodating as they would on the BI. I also think it’s a long shot for her to even land a position on Kauai.

[Molokai100]

Originally Posted by Grassyknoll

And this kids, is why uncle Grassy has a drinking problem....

Lol...aside from your thirst can you comment on the air quality in Ka'u? I assume from your southernmost part of your profile that is where you reside.

[Molokai100]

Yes, housing prices are determined by supply and demand. However, jobs are an important component in demand. Rural areas on average have less appeal for those who work for a living and therefore there is less demand by those of working age if there are no jobs nearby. One of the (several) reasons Kona has more demand is economic. There are more jobs and they are closer. What good is a $15 an hour job if you have to spend $1000 per month in gas to get there?

[Arktikos]

Originally Posted by Molokai100

Lol...aside from your thirst can you comment on the air quality in Ka'u? I assume from your southernmost part of your profile that is where you reside.

This website updates current vog conditions island wide several times a day. Haven't been to Ka'u region recently but can say that the vog around Kona airport is the worst I've ever seen it. http://weather.hawaii.edu/vmap/current/index.cgi