Maui Blog - Georgie Hunter R(S): The down side of a hurricane event on Maui - new appraisal needed?

The down side of a hurricane event on Maui - new appraisal needed?

The down side of a hurricane event on Maui - new appraisal needed?

Olinda Road, Makawao HI 96768While we didn't suffer much damage here on Maui from Hurricane Iselle, some areas had power outages and trees down.  Ulupalakua Ranch suffered some serious damages, with buildings knocked down and miles of fencing wiped out. Olinda Road in Makawao seemed to be the worst on the windward side, with some eucalyptus trees knocking out a pole or two and closing the road. We were spared any loss of life and serious property damage in Haiku.  Hurricane Julio was a no-show, to everyone's relief.  

If you were in the process of getting a loan to buy a home on Maui, then you might not be so lucky.  Some lenders will now be requiring another appraisal to prove that the house is alright.  This can be a delay to final loan approval, and another expense for the buyer.  Even if there is no damage, the lender will not pay for the added cost.  

When shopping for a Maui home, if you need the names of some local lenders, I can provide you with some great options.  

321 Kaomi Pl, Makawao Maui HI 96768

This nice Makawao home, at 321 Kaomi Place, is still available to buy, with NO storm damage.  It's a lovely 3BD/3BA home on a half acre lot in Upland Estates.  Listed for $699,000 - MLS#360911.

Call your Maui Realtor today and make an appointment. Search for Makawao Maui homes for sale here.

 

Georgie Hunter R(S) e-Pro, Hawai'i Life Real Estate Brokers

161 Wailea Ike Place C-103B, Wailea HI 96753

127 Hana Hwy. #G, Paia HI 96779

800 667-5028 ex 8241

direct: 808 283-0635

Comment balloon 9 commentsGeorgie Hunter R(S) 58089 • August 11 2014 08:27PM

Comments

No shocker here. We see this ALL the time when a disaster happens. We have had them for both floods and fires out here so let the borrower know he/she is not being picked on its simply a requirement for ALL loans

Posted by David Shamansky, Creative, Aggressive & 560 FICO - OK, Colorado Mtg (US Mortgages - David Shamansky) over 3 years ago

Georgie - In California, we had a home in escrow during a large earthquake and all homes had to be reappraised. We didn't suffer any damage. Of course, the lender needs to know that too I guess.  :)

Posted by Tom Arstingstall, General Contractor, Dry Rot, Water Damage Sacramento, El Dorado County - (916) 765-5366, General Contractor, Dry Rot and Water Damage (Dry Rot and Water Damage www.tromlerconstruction.com Mobile - 916-765-5366) over 3 years ago

Glad you're okay, Georgina

Posted by Laura Cerrano, Certified Feng Shui Expert, Speaker & Researcher (Feng Shui Manhattan Long Island) over 3 years ago

Georgie, sure glad you did not have a direct hit from those hurricanes.   I would imagine, sure does affect real estate!

Posted by Joan Cox, Denver Real Estate - Selling One Home at a Time (Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373) over 3 years ago

Wow that is something I didn't think about, but it makes sense.  Glad you didn't suffer too much damage.

Posted by Jane Peters, Connecting you to the L.A. real estate market (Home Jane Realty) over 3 years ago

David - I guess we don't get enough disasters here to make this commonly known, but it's something to keep in mind.

Tom - even with no damage there could still be a delay.

Laura, Joan, Jane - thanks!  Yes we were spared again. It seems Maui is always dodging the worst events and we have been very lucky.

Thanks for your comments.

Posted by Georgie Hunter R(S) 58089, Maui Real Estate sales and lifestyle info (Hawai'i Life Real Estate Brokers) over 3 years ago

It is a constant problem here during hurricane season. Also, insurance companies will not write a policy with a named storm out there.

Posted by Barbara-Jo Roberts Berberi, MA, PSA, TRC - Greater Clearwater Florida Residential Real Estate Professional, Palm Harbor, Dunedin, Clearwater, Safety Harbor (Charles Rutenberg Realty) over 3 years ago

Hi Georgie,

I think it would be so sad if a buyer had to pay for a second appraisal but life happens and hurricanes can cause property damage.

Posted by Kristin Hamilton CA Realtor, (909) 557-6966, GREEN, SFR, CHS-Redlands/Loma Lind (Keller Williams Realty) over 3 years ago

Hi Georgie, Glad to hear you were all spared massive damage.  Yes extreme weather does play havoc in our line of work.  Not fun to have power outages for long periods of time, but sounds like not something that happened.  Now ay the islands be spared being hit by such a storm as it had been many years prior to these storm.

Thank you for stopping by!

Gloria

 

Posted by Gloria Todor, & Doug Durren (484) 431-3686 (Century 21 Absolute Realty ) over 3 years ago

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