If I were a betting man, I would put money on builder being greedy.
The fact that it only says Solar included makes me think that there weren't enough upgrades to even mention. It does, however, say that the price includes lot premium & designer pre-plots. At this point, lot 59 probably has passed stage 2 upgrade deadline, which means they may have upgraded kitchen cabinets, countertops, backsplash, etc.My bet is a bit of both, but the majority of the increase is the builder bumping the price. The builders will be testing how desperate and how deep the pockets of the buyers on the waitlists are.
Access? Most FCBs are parking cash in those homes and aren't being lived in.Access.
More people have business/recreation/education opportunities in Cali vs HI.
Also, are there new homes in the islands?
Per Zillow - DR Horton is building some (IMHO) ugly homes in Hawaii.What I'm saying is they can visit said cash deposits and do other stuff, Hawaii is too isolated... and again.. are there new builds there?
That being said, last time I was in Hawaii I did here a conversation from some Chinese people about investing in real estate there. I think I mentioned it on some other thread on TI.
What I'm saying is they can visit said cash deposits and do other stuff, Hawaii is too isolated... and again.. are there new builds there?
That being said, last time I was in Hawaii I did here a conversation from some Chinese people about investing in real estate there. I think I mentioned it on some other thread on TI.
That seems super shady. Is all that worth the risk? What happens when banks and or governments crack down on this?FCB's don't plan to live in these homes. These properties are parking lots for cash, waiting to be soaped, rinsed, and dried off after a year or so. We've seen this in many other new home communities over that past many years, haven't we?
Are you trying to say Hawaii has limited resources to receive or deposit cash? It’s pretty developed state FYIWhat I'm saying is they can visit said cash deposits and do other stuff, Hawaii is too isolated... and again.. are there new builds there?
That being said, last time I was in Hawaii I did hear a conversation from some Chinese people about investing in real estate there. I think I mentioned it on some other thread on TI.
There’s a bunch of opportunity of hyper appreciation in Hawaii. A lot of homes are in horrible condition and a lot of RE investors buy homes for the land price and rebuild and sell it. Keep in mind Oahu specifically has no more SFH new builds like Irvine does. All new homes are luxury condos with 1000+ HOA or tri-level condos in the west which is far from downtownPer Zillow - DR Horton is building some (IMHO) ugly homes in Hawaii.
I don't think there is the same rate of hyper appreciation in Hawaii as there is in The OC which suppresses demand for island home investing.
4x in Irvine is possible if you bought right in the early 2000'sThere’s a bunch of opportunity of hyper appreciation in Hawaii. A lot of homes are in horrible condition and a lot of RE investors buy homes for the land price and rebuild and sell it. Keep in mind Oahu specifically has no more SFH new builds like Irvine does. All new homes are luxury condos with 1000+ HOA or tri-level condos in the west which is far from downtown
Hawaii appreciation is insane if you actually put in the money to fix and flip. My dad’s home already 4X in value in 20 years. I don’t know any homes in Irvine that come close to that type of return. Hawaii homes are also not cookie cutter crap that gets copied and pasted in a 5-10 mile radius like Irvine. It’s all custom with no HOA with big lots compared to the home size.
How common is it though? In Hawaii it’s quite common. But you’ll need the capital as I don’t think regular mortgages will fund homes with broken toilets or holes on floors
Thats exactly my point. Hawaii is a better investment than Irvine tract homes. So that’s why I’m wondering why one would want to put 3m+ on a tract home while paying a premium on taxes, HOA, tiny lots, and produces lower returns. Especially when it’s an investment and not primary residence.Hard to determine as I used Irvine only in a quick search.
Oahu is roughly 600 square miles. OC. Is about 1000 square miles. If I searched just Laguna, Newport, Dana Point and other seaside communities to compare, there are many homes that sold in 2003 that are 4x their value in 2023.
Does Irvine have a few areas that appreciated 4x. Sure, but not as many as "closer to the beach" homes have.
I can't see a $4m Irvine Tract home appreciating 4x in 20 years. If that happens, the U.S. Dollar will be closer in "value" to a roll of Charmin.
Perhaps FCBs are used to the density..Thats exactly my point. Hawaii is a better investment than Irvine tract homes. So that’s why I’m wondering why one would want to put 3m+ on a tract home while paying a premium on taxes, HOA, tiny lots, and produces lower returns. Especially when it’s an investment and not primary residence.
Considering many FCBs never lived in a house with a backyard, a 8-10 ft backyard would have to be considered "big", I would say.Perhaps FCBs are used to the density..
Olivewood is almost sold out again, except for the $3.5M home without a view, which makes sense. I mean, who the heck wants to be $3.5M for a normal lot?