And to think that some Real Estate agents are unethical.......haha!
Website to Sell Nonexistent Real EstateTalk about your deep-thinking oysters????...........
By JAYMES SONG Associated Press
Posted: Today at 6:47 a.m.
HONOLULU — Real estate is often a
long-term investment. But 10,000 years? Lo'ihi Development Co. will soon start
offering oceanview lots speculators won't even be able to stand on for many
millennia. That's because they're currently submerged more than 3,000 feet below
sea level - on an underwater volcano called Lo'ihi, located about 20 miles
southeast of the Big Island.
His Web site will be renovated in the next
couple of weeks to officially begin selling parcels for an introductory price of
$39.95. Buyers will receive a brochure and a "deed," but much like Internet
groups that claim to sell stars, they probably can't call themselves
"What's the scam?" said Norm Nichols, co-developer of the online
venture. "If you really think there's something here that you can't live with,
nobody's forcing you to buy it. It's meant to be fun."
The Web site
advertises, "Lo'ihi Seaview Estates: Real Estate for the Future. Grand Water
View Front Lots." A photo of the sales office is a raft in the middle of the
Nichols and his business partner, Linda Kramer, both Honolulu
entrepreneurs, envision online chat rooms and newsletters to discuss everything
from street names to what kind of government to install. They want to hold a
"homeowners association" meeting - a boat ride over the volcano - every April
Scientists don't really know when, or if, Lo'ihi will break the
surface of the Pacific Ocean. Many guess about 10,000 years, but it could be
much longer than that.
Stephen Levins, head of the state consumer affairs
office, said the offer could be a problem if it were serious. "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," he said.