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article imageBuy Real Estate of the Future for $39.95

By Kyle Pallanik     May 28, 2007 in Entertainment
That's right! For only $39.95 you can buy a piece of property on Mount Lo'ihi in Hawaii. Interested? Well there's a catch, it's still 3,000 feet under the Pacific Ocean, so you may have to wait at least 10,000 years.
"Experience the majestic serenity of full Ocean View Property for generations to come" says the Lo'ihi Development Co. website and they're not kidding. Just 20 miles southeast of Hawaii's Big Island you're right in the middle of the ocean. According to scientists, the volcano could break the ocean in 10,000 years or so. Or maybe not, they don't really know.
The website is supposed to go under a renovation in the next few weeks and then Lo'ihi Development Co. will begin selling off parcels of land on the underwater volcano.
You will get a deed and a brochure and then you can happily wait for your ancestors to inherit the property, I guess.
The company's website includes a picture of their sales office.
It also lists the important amenities:
Located just miles from the main island of Hawaii, Lo'ihi will have 360 degree views of the ocean. Just a short ride by boat or plane will land you on the island of Hawaii and close to all the modern conveniences. Lots are available with no building restrictions and liberal property boundaries. Each lot will have access to abundant sources of hot water for hot tubs and saunas. No unwanted vegetation to clear and most lots will have a gradual to moderate slope to the sea. First time buyers will have their choice of lots as they develop.
The masterminds behind this endeavour are Norm Nichols and Linda Kramer, both entrepreneurs from Honolulu.
"If you really think there's something here that you can't live with, no body's forcing you to buy it. It's meant to be fun." They are going to add online chat rooms to the website and newsletters so that property owners can discuss the business of government, street names, local holidays and other important matters. They also want to hold a "homeowners association meeting" which will involve a boat ride over the volcano each year on April Fools Day.
Clearly the buying and selling of the real estate is about as real as the existence of dry land in the area. Stephen Levins, who is the head of the state consumer affairs office says that it could be a problem "However, if the Web site is clear it's a parody and you're not going to be receiving an actual interest in real estate, that's something else."
It's only a matter of time before someone buys some property and then anchors their boat there, calling it their own. Who knows maybe they'll actually make money at it, from people who are just looking for the entertainment value of pretending to be a virtual community. I think they should spice it up with some 3D graphics and computer graphics, to make it something that internet junkies would actually pay money to be a part of.
More about Real estate, Virtual, Volcano
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