It's been another quiet week with minimal activity which is normal for this time of the year as everyone gears up for Thanksgiving. Here is your update for this past week:
Copyright 11/21/2009 by Hawaii Information Service
NEW LISTINGS 229452 T A 4 4-5-3-11-1-30 FS $599,000 Villas On The Prince #30 1,732 #30 3/3 229521 T A 2 4-5-4-15-21-15 FS $249,900 Sandpiper Village I #115 1,042 #115 2/2 229489 T A 4 4-5-4-5-16-45 FS $558,900 Alii Kai At Hanalei #5301 1,086 #5301 2/2 229454 T A 4 4-5-4-5-24-76 FS $589,000 Nihilani At Princeville Resort #26A 1,874 #26A 3/2.5
CONTINGENT SALES 226086 SH C 911 4-5-4-6-1-42 FS $199,000 Villas Of Kamalii #42 1,825 #42 3/3
WITHDRAWN 223402 T W 210 4-5-3-11-1-30 FS $679,000 Villas On The Prince #30 1,732 #30 3/3 224825 T W 160 4-5-4-12-8-1 LH $359,000 Pali Ke Kua Ii #1 993 #1 2/2 214607 T W 464 4-5-4-12-9-9 FS $589,000 Pali Ke Kua #13 1,135 #13 2/2 228464 T W 33 4-5-4-5-24-76 FS $639,000 Nihilani At Princeville Resort #26A 1,874 #26A 3/2.5
PRICE CHANGES 227584 T A 64 4-5-4-15-21-28 FS $325,000- Sandpiper Village I #128 1,042 #128 2/2 227585 T A 66 4-5-4-15-21-65 FS $380,000- Sandpiper Village I #228 1,173 #228 2/2.5 220368 T A 297 4-5-4-5-39-42 FS $385,000- Cliffs At Princeville #2202 917 #2202 1/2 227646 T A 64 4-5-4-5-13-2 FS $390,000- Kamahana #2 1,171 #2 2/2 229379 T A 8 4-5-4-5-24-80 FS $399,000- Nihilani At Princeville Resort #27B 1,567 #27B 2/2.5 227872 T A 54 4-5-4-5-24-16 FS $459,000- Nihilani At Princeville Resort #6A 1,874 #6A 3/2.5 204622 T A 700 4-5-4-12-8-28 FS $499,000- Pali Ke Kua Ii #232 993 #232 2/2 227495 T A 66 4-5-4-5-7-26 FS $575,000- Princeville Sealodge #C6 564 #C6 1/1 229381 T A 8 4-5-4-5-24-94 FS $599,000- Nihilani At Princeville Resort #32A 1,874 #32A 3/2.5 222351 T A 241 4-5-4-5-39-138 FS $675,000- Cliffs At Princeville #5308 1,186 #5308 2/2 226466 T A 87 4-5-4-5-16-36 FS $875,000- Alii Kai At Hanalei #4304 1,086 #4304 2/2
This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.
Villas on the Prince 30, now a short sale listed at $599K and purchased for $565K in 3/04 has been on the market with various agents numerous times over the past several years. It was first listed from 5/06 to 10/06 starting $1.149M and reducing to $965K before being withdrawn with 158 market days. It came back on the market in 1/07 to 10/07 starting at $935K and ending at $849K before it was again withdrawn after 266 market days. It came right back on in 10/07 at $935K and was again withdrawn in 5/08 after 188 market days with a final price tag of $799K. It was immediately relisted in 5/08 for $779K and later withdrawn in 9/08 while listed for $779K. The sellers relisted in 10/08 until 4/09 during which time the unit was priced at a high of $795K and a low of $750K. It expired with 185 market days. It came back on yet again in 4/09 at $750K and was withdrawn in 11/09 which is why you'll see it listed under the "withdrawn" portion of this update.
Sandpiper 115, listed at $249,900 was previously listed from 7/07 to 9/09 for 338 days at $429K with no price reductions. It last sold for $180K in 12/01 and is now a bank REO. Ali'i Kai 5301, purchased for $977K in 4/07 is now listed as a bank REO for a very attractive $558K. This unit has numerous upgrades such as tile floor in the kitchen, dining area and hallway, wood laminate in the living area, new kitchen cabinets and granite countertops. However, as happens in many REO's the kitchen stove, refrigerator, washer and dryer were removed. Nevertheless, this unit has commanding views up and down the coast and shouldn't last long at this price. Nihilani 26A is new this week after being withdrawn after 33 market days listed initially at $675K and reducing to $639K which is why this unit is also in the "withdrawn" portion of this update. It is now listed at $589K and was purchased for $805K in 12/06.
A fractional share of Villas of Kamali'i 42 listed for $199K went into escrow after 911 days on the market. This unit sold in 4/07 for $805K.
As noted under New Listings, both Villas on the Prince 30 and Nihilani 26A were withdrawn and immediately relisted. Pali Ke Kua 1, a beautifully remodeled leasehold unit priced at $359K fell out of escrow and was withdrawn after 160 days on the market. This unit last sold for $379K in 4/06. Pali Ke Kua 13, purchased for $121K in 8/96 was also withdrawn listed at $589K with 464 market days.
As for price reductions: Sandpiper 128, purchased for $490K in 6/05 reduced this week from $379K to $325K. Sandpiper 228, purchased for $535K in 6/05 reduced from $399K to $380K. Kamahana 2 which last sold for $136K in 11/94 reduced from $439K to $399K. These three properties are all owned by the same seller. Cliffs 2202, purchased as leasehold in 5/88 for $107K and converted to fee simple in 11/91 for $20,500 reduced from $445K to $385K. Nihilani 27B reduced from $449K to $399K and sold from the developer for $682,180 10/06. Nihlani 6A, purchased for $770,080 in 2/07 reduced from $499K to $459K. Pali Ke Kua 232, a short sale purchased for $650K in 9/04 went from $599K $499K. Sealodge C6 reduced from $599K to $575K and last sold for $190K in 11/99. Nihilani 32A was purchased for $985K in 3/06 and reduced from $649K in $599K. Cliffs 5308, purchased in 2/04 for $465,185 reduced from $750K to $675K. Ali'i Kai 4303, purchased for $541,500 in 2/04 reduced from $899K to $875K. Now on to your Princeville house update:
Copyright 11/21/2009 by Hawaii Information Service
NEW LISTINGS 229317 RS A 5 4-5-3-11-32 FS $1,400,000 4066 Aloalii Dr 13,511 sqft 2,784 3/2.5 229431 RS A 3 4-5-4-9-23 FS $630,000 5215 Poki'i Ln 11,157 sqft 1,432 3/2 229419 RS A 5 4-5-4-23-55 FS $659,000 3781 Milimakani Pl 7,187 sqft 1,295 3/2 229479 RS A 3 4-5-4-20-31 FS $699,000 5141 Kapi'olani Loop 9,669 sqft 2,262 5/3 229568 RS A 2 4-5-4-6-13 FS $719,000 4144 Lei O Papa Rd 10,890 sqft 1,542 2/2
CONTINGENT SALES 219545 RS C 323 4-5-4-22-26 FS $545,000 4372 Emmalani Dr 11,390 sqft 1,294 3/2 227438 RS C 71 4-5-4-19-17 FS $997,755 5104 Napo'okala Cir 15,139 sqft 3,848 4/3.5
This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.
It's hard to believe it's almost Christmas and that decorations and trees are already in the stores. If you decide it's time to list or buy your Kauai paradise, don't forget to call or email for your personal market update. Wishing each and every one of you a Thanksgiving filled with family, good food and lots of love.
Aloha Elaine
Aerial view of Bora Bora Lagoons Resort
Elaine Schaefer (R, CRS, GRI, ABR) Broker in Charge - Princeville Resort Office Certified Residential Specialist Graduate, Realtor's Institute Accredited Buyer's Representative Top Producer 100% Club
RE/MAX Kauai Princeville Resort Office POB 223632 Princeville, HI 96722 cell: 808 639 2935 home fax: 1 808 440 4552 email:soldonkauai@yahoo.com website: www.KauaiRealEstateNow.com blog: http://blogs.alohaliving.com/princeville-condo-sales/
......you can have your own piece of paradise ask me how!
This past week brought with it our first major winter storm. When all was said and done, both the Hanalei Bridge and the road between Princeville and Kilauea by Kalihiwai were closed for a period of time on Saturday. If you live in Princeville, Hanalei or Kilauea, you quickly learn that it's best to stay close to home when these types of storms appear, for fear of being "on the wrong side of the fence" when a road or bridge is closed. I've heard of visitors and locals alike being stuck on the wrong side of the tracks, unable to make a flight or get home.....It's pretty clear that Mother Nature rules the roost here.
Along with all the rain, we had a pretty quiet week in terms of real estate activity, as evidenced by this very brief update:
Copyright 11/15/2009 by Hawaii Information Service
NEW LISTINGS 229384 T A 2 4-5-3-11-1-19 FS $850,000 Villas On The Prince #19 1,732 #19 3/3 228998 T A 6 4-5-3-6-22-27 FS $1,695,000 Kaiulani Of Princeville #27 2,864 #27 3/3.5 229171 T A 3 4-5-3-6-22-48 FS $1,749,000 Kaiulani Of Princeville #48 2,476 #48 3/3 229379 T A 2 4-5-4-5-24-80 FS $449,000 Nihilani At Princeville Resort #27B 1,567 #27B 2/2.5 229381 T A 2 4-5-4-5-24-94 FS $649,000 Nihilani At Princeville Resort #32A 1,874 #32A 3/2.5 228792 T A 6 4-5-4-5-24-72 FS $798,000 Nihilani At Princeville Resort #24C 1,972 #24C 3/3
WITHDRAWN 207615 T W 619 4-5-3-6-22-9 FS $2,100,000 Kaiulani Of Princeville #9 2,864 #9 3/3.5
PRICE CHANGES 225703 T A 128 4-5-4-15-21-34 FS $209,000- Sandpiper Village I #134 1,042 #134 2/2 229139 T A 9 4-5-4-5-17-15 FS $349,000- Alii Kai Ii Hanalei #9G 1,037 #9G 2/2 218778 T A 345 4-5-4-5-18-60 FS $367,500- Puamana #17A 1,312 #17A 2/2 228178 T A 39 4-5-4-5-24-41 FS $400,000- Nihilani At Princeville Resort #14B 1,567 #14B 2/2.5 229003 T A 10 4-5-4-5-24-8 FS $425,000- Nihilani At Princeville Resort #3B 1,567 #3B 2/2.5 225686 T A 129 4-5-4-5-16-57 FS $499,000- Alii Kai At Hanalei #7202 886 #7202 2/2
This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.
Villas on the Prince 19 is new on the market this week listed for $850K. This agent owned unit last sold for $520K in 6/02. Ka'iulani 27, purchased for $1,652,100 in 8/07 is back on the market listed at $1.695K. This unit was previously listed from 10/07 to 10/08 for $1.965M. It was reduced to $1.85M by the time it was withdrawn. It was listed a second time from 11/08 to 11/09 starting at $1.850M and ending at $1.795M when it was again withdrawn. Ka'iulani 48, purchased for $1,502,610 in 9/07 is also back on the market listed at $1.749M. This unit was listed from 1/08 to 8/08 starting at $1.9M and reducing to $1.799M, and again from 8/08 to 6/09 for $1.799M.
There are several Nihilani units coming onto the market this week, starting with 27B. Purchased in 10/06 for $682,180 and listed this time for $449K, this agent owned unit was listed before from 10/06 to 4/07 for $779K and reduced to $749,900, from 3/08 to 6/08 for $699K and once again from 7/08 to 9/08 during which time it went from $685K to $539,900 before being withdrawn. Nihilani 32A, an agent owned unit purchased for $985K in 3/06 was previously listed from 7/08 to 9/08 at a high price of $999K reducing to $739,900 when it was withdrawn. Nihilani 24C makes it's debut as a new listing priced at $798K. This unit last sold in 12/06 for $876,145. No properties went into escrow, sold, expired, or were temporarily withdrawn this week.
Ka'iulani 9, listed for $2.1M and purchased for $2,008,270 from the developer in 2/09 was withdrawn after being listed from 3/08 to 11/09 with no price reductions and 619 days on the market.
As for price changes - Sandpiper 134, listed for $225K reduced to $209K. This unit sold for $485K in 7/05 and is a short sale. Ali'i Kai 9G, purchased for $151K in 12/09 reduced from $369K to $349K. Puamana 17A purchased in 3/04 for $320K went from $425K to $367,500. Nihilani 14B, purchased from the developer in 3/06 for $594,102 had a major price reduction, going from $475K to $400K as a short sale. Nihilani 3B, a developer's unit, reduced in a similar fashion going from $485K to $425K. Our final reduction is Ali'i Kai 7202, which also had a nice reduction going from $575K to $499K. This agent owned unit sold for $115K in 1/88. Now on to your Princeville home update:
Copyright 11/15/2009 by Hawaii Information Service
NEW LISTINGS 229218 RS A 3 4-5-4-24-11 FS $685,000 4240 Waileia Pl 12,336 sqft 2,074 3/2 229262 RS A 4 4-5-4-14-26 FS $1,625,000 3925 Kamehameha Rd 20,093 sqft 3,925 4/3.5
WITHDRAWN 225087 RS W 144 4-5-4-14-26 FS $1,625,000 3925 Kamehameha Rd 20,093 sqft 3,925 4/3.5 220623 RS W 284 4-5-4-13-74 FS $2,495,000 3651 Albert Rd 10,838 sqft 3,218 3/3.5
PRICE CHANGES 218770 RS A 342 4-5-4-16-77 FS $699,000- 4117 Kekaulike Ln 10,650 sqft 3,100 3/2.5 227771 RS A 58 4-5-4-13-72 FS $1,095,000- 3661 Albert Rd 10,466 sqft 2,655 3/3.5 186555 RS A 1,058 4-5-4-4-38 FS $7,999,000- 4971 Hanalei Plantation 1.25 ac 4,630 4/4.75
This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.
As you can see from the update, it was a relatively slow week in terms of any real activity, however, there were some very attractive reductions this past week which will hopefully spur some buyers to get off the fence and into the game. Some think the market has reached bottom while others feel there is still a little more room left. In either case, I feel that if you can find something you like, get it now while you can. Rates are at historic lows and despite the bloated inventory, when it comes right down to it, I can pretty much guarentee that for most buyers, there will only be one or two properties that will interest them enough to actually want to make a purchase. If you are a buyer, don't let something you like slip through your fingers. And sellers, if you are not in line with the market, take a look at the reductions this week and see if you need to make a similar reduction to attract a buyer to your property.
Regardess of if you are buying or selling, call or email me for the facts on any property on the Island. That's why I'm here, to help you!
Aloha Elaine
View of the flooded taro field and Hanalei River after the rain this weekend
Elaine Schaefer (R, CRS, GRI, ABR) Broker in Charge - Princeville Resort Office Certified Residential Specialist Graduate, Realtor's Institute Accredited Buyer's Representative Top Producer 100% Club
RE/MAX Kauai Princeville Resort Office POB 223632 Princeville, HI 96722 cell: 808 639 2935 home fax: 1 808 440 4552 email:soldonkauai@yahoo.com website: www.KauaiRealEstateNow.com blog: http://blogs.alohaliving.com/princeville-condo-sales/
......you can have your own piece of paradise ask me how!
For a change, this past month there was an increase in the number of sales Islandwide, from 46 last October to 50 this October which is a 8.7% increase. Year to date is still down with 519 units sold this time last year compared to 396 sold as of Oct 2009 for a 24% decrease. Of the 50 Oct sales, 32 were residential, 2 were land sales and 16 condos were sold. Of the homes that sold, 2 were in the Waimea Zone, 10 in Koloa, 3 in Lihue, 11 were in the Kawaihau zone and 6 were sold in Hanalei. Keep in mind these are Zones as defined by the tax key number and not the specific town. In Oct 2007 57 properties changed hands, while 92 sales occured in Oct 06. As usual, the high number is in Oct 05 when there were 162 transactions compared to 137 in Oct 2004. The high year for year to date was once again 05 with 1543 sales. If you are a seller in today's market it may help to stop for just a moment and look at that number as it compares to today's market and to recognize that the 396 sales as of Oct 09 represents roughly a 74% decrease in activity. Perhaps it will soften the frustration and impatience that is a common occurance when trying to sell now.
Not only were sales up this month but sales volume was up 24% from $23M in Oct 08 to $29M for Oct 09. Oct 04 had sales volume of $79M, Oct 05 was at $97M, Oct 06 - $70M and Oct 07 saw $50M in sales. Year to date sales volume for 08 was $416M with year to date Oct 09 sales of $240M, a 42% decline. Of the $29M spent this past month, $20M went towards residential sales, $649K for land and $8M was spent on condos. Keep in mind that I round number off as I do this report. Click here to see the full report please on my website.
The median sales price for residential is down substantially comparing Oct 08 and Oct 09, which was $515K in 08 and $446,500 for Oct 09. Here are the residential sales stats for Oct 08 that shows the median price:
Copyright 11/9/2009 by Hawaii Information Service 09
MLS Number Location Sold Date Sold Price 210328 4982 Ohu Rd 10/1/2008 $115,000 203033 4459 Kawailoa St 10/31/2008 $320,000 205971 3140-1 Poipu Rd 10/3/2008 $338,000 205792 3530 Maka Ala St 10/23/2008 $340,000 211517 4718 Melemele Rd 10/31/2008 $350,000 213299 5261 Laipo Road 10/10/2008 $350,000 207660 302-A Makani Rd 10/28/2008 $373,000 209216 Port Allen Residential Subdiv Lot #: 10/31/2008 $380,000 213066 Port Allen Residential Subdiv Lot #: 10/1/2008 $404,000 213245 2843 Mokoi St 10/22/2008 $475,000 210864 5144 Kaunaloa St 10/1/2008 $500,000 210715 6455 Puupilo Rd #2 10/24/2008 $515,000 197225 210 Nalomeli Pl 10/31/2008 $525,000 198693 6077 Kolopua St 10/1/2008 $525,000 213843 2177 Puu Rd 10/15/2008 $641,000 187788 3550 Horita Rd 10/30/2008 $643,000 211912 5061 Aliomanu Road, Apt B 10/15/2008 $680,000 208005 3646 Keoniana Rd 10/8/2008 $760,000 212592 4369 Kai Ikena Dr 10/1/2008 $804,625 209424 1228 Nohea St 10/17/2008 $830,000 203972 2474 Apapane St 10/10/2008 $850,000 212757 4844-A Wailapa Rd #A 10/30/2008 $1,050,000 207294 5164-K Kahiliholo Rd. #1 10/24/2008 $1,147,500
This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.
Here are the sales for Oct 09 showing the median of $446,500:
This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.
Years past saw a residential median sales price of $650K in Oct 07, $675K in Oct 06, $675K in Oct 05 and $567,500 in Oct 04. Year to date residential median sales price for Oct 04 was $485K, 05 was $640K, 06 was $679,500, 07 was $660K, 2008 was $625K and year to date Oct 09 has a residential median sales price of $470K.
Statistically, it's still a great time to buy with both favorable pricing and financing available, not to mention the home buyers credit which is now available for both first time buyers and existing home owners. There's also plenty of inventory which makes for a great buyer's market all around.
Aloha Elaine
Bora Bora Sunset
Elaine Schaefer (R, CRS, GRI, ABR) Broker in Charge - Princeville Resort Office Certified Residential Specialist Graduate, Realtor's Institute Accredited Buyer's Representative Top Producer 100% Club
RE/MAX Kauai Princeville Resort Office POB 223632 Princeville, HI 96722 cell: 808 639 2935 home fax: 1 808 440 4552 email:soldonkauai@yahoo.com website: www.KauaiRealEstateNow.com blog: http://blogs.alohaliving.com/princeville-condo-sales/
......you can have your own piece of paradise ask me how!
It was a relatively quiet week with periods of pouring rain. Activity remains relatively slow as you'll see from this weeks update. The renovation of the timeshare units at the Cliffs is almost complete which means we'll have guests returning to buildings 7, 8 and 9 which will eliminate the favorable parking spots I've become accustomed to during the renovation. For those of you unfamiliar with the Cliffs, in addition to whole ownership, there are two timeshare associations that are also here. I have a second floor unit and am happy to have timeshare above and below me. The reasons I like timeshare neighbors are 1) They seldom have big family fights as they are here on vacation; 2) They aren't dragging a bunch of other people into the unit because they don't know anyone else and 3) They don't stockpile food (and attract bugs) because as I said before, they are only here for a week.
I also like living with timeshare because the grounds and common area building are always in great condition, after all, guests are only here for a week so everything has to look good pretty much all the time. However, for a "whole unit" buyer, lending is tricky because the Cliffs is a condhotel, has leasehold and fee simple units the majority of which are timeshare. On to your update:
Copyright 11/8/2009 by Hawaii Information Service
NEW LISTINGS 229139 T A 2 4-5-4-5-17-15 FS $369,000 Alii Kai Ii Hanalei #9G 1,037 #9G 2/2 228973 T A 6 4-5-4-12-8-24 LH $449,000 Pali Ke Kua Ii #130 1,100 #130 2/2 229003 T A 3 4-5-4-5-24-8 FS $485,000 Nihilani At Princeville Resort #3B 1,567 #3B 2/2.5 229125 T A 2 4-5-4-5-16-33 FS $785,000 Alii Kai At Hanalei #4301 1,086 #4301 2/2 227902 T A 3 4-5-4-6-1-27 FS $845,000 Villas Of Kamalii #27 1,815 #27 3/3 228874 T A 6 4-5-4-5-16-24 FS $940,000 Alii Kai At Hanalei #3204 1,085 #3204 2/2
CONTINGENT SALES 204804 T C 514 4-5-4-5-39-33 FS $230,000 Cliffs At Princeville #2103 917 #2103 1/2
SALES 211781 T S 408 4-5-4-5-3-24 FS $324,900 Princeville Paniolo #211 1,058 #211 1/2 SOLD 11/4/2009 for $300,000 (CNV) DOM 408
219219 T S 327 4-5-4-5-30-20 FS $325,000 Princeville Mauna Kai #D302 1,488 ##25 3/2 SOLD 11/3/2009 for $350,000 (CNV) DOM 327
EXPIRED 225541 T X 122 4-5-4-12-11-46 FS $1,095,000 Puu Poa #404 1,352 #404 2/2
WITHDRAWN 217907 T W 342 4-5-3-6-22-27 FS $1,795,000 Kaiulani Of Princeville #27 2,864 #27 3/3.5
TEMPORARILY WITHDRAWN 226309 T T 96 4-5-4-15-21-23 FS $325,000 Sandpiper Village I #123 1,042 #123 2/2
PRICE CHANGES 222635 T A 184 4-5-4-5-12-19 FS $349,999- Sealodge Ii #H1 556 #H1 1/1
This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.
Of the 6 new listings only 2 are actually new to the market. Ali'i Kai 9G, listed at a new lower price of $369K was purchased for $151K in 12/99, and was listed from 7/05 to 1/06 for $615K and again from 2/06 to 9/09 starting at $629K and reducing to $380K. The agent owned leasehold Pali Ke Kua 130 was purchased for $429K in 3/06 and is back this time listed at $449K. This unit was previously listed from 8/06 to 5/07 starting at $699K and reducing to $649K, from 6/07 to 6/08 during which time it went from $649K to $575K and once again from 7/08 to 9/09 starting at $575K. It reduced to $399K at one point before going back up to $449K which is where it expired.
Nihilani is now allowing some of the resale agents to list their developer units in the hope that it will create more interest and greater exposure. That's the case with Nihilani 3B, currently listed for $485K with an agent who is not with Brookfield. This unit was previously listed by the Brookfield agents from 7/07 to 1/08 starting at $700,500 and reducing to $699K and was also listed from 4/08 to 10/09 with a high list price of $686,200 ending at $485K. Ali'i Kai 4301 last sold for an all time high of $1,157,500 on 6/06 and is now listed for $785K. It was previously listed from 9/08 to 9/09 starting at $919K and reducing to $895K. It is not showing as a short sale. Villas of Kamali'i 27 is back on the market as a new listing at the old price of $845K. It was listed at this price from 10/08 to 10/09. Ali'i Kai 3204 is the only other "new" listing at $940K. This unit last sold for $365K on 8/02.
One of the "lender approved" short sales went into escrow this week: Cliffs 2103 listed for $230K after 513 days on the market. Some of you have asked why it takes so long for a unit to go into escrow when the price seems so reasonable. This unit was first listed from 4/05 to 11/05 starting at $560K and dropping to $539K before being withdrawn. It came back on the market in 12/05 listed for $539K and reduced to $529K before expiring in 8/06. It was listed again from 2/07 to 3/07 for a low of $475K and was withdrawn while listed at $485K. This most recent listing started out at $495K in 12/07 and kept reducing until it reached the price of $230K on 7/09, gaining short sale approval from the bank at that price on 9/09. So although it may appear as if it's been sitting as an approved short sale all this time, that is not the case.
Paniolo 211, listed for $324,900 closed at $300K after 408 days on the market. Purchased in 12/89 for $125K this unit started out at $427K when it first came on the market. Mauna Kai 25, purchased in 8/07 for $585K and listed as a short sale for $325K closed at $350K. This unit started out at $524,500 327 days ago.
My Pu'u Po'a 404 listing expired this week priced at a very favorable $1.095M. This unit last sold for $325K in 7/91. Ka'iulani 27, purchased for $1,652,100 in 8/07 was withdrawn from the market listed at $1.795M after 342 market days. Sandpiper 123 listed for $325K and purchased for $359K in 8/04 was temporarily withdrawn from the market. Surprisingly, we are setting a new record this week in price changes in that there is only, but it's a very good one on Sealodge H1 which went from $499K to $349,999. Purchased in 8/05 for $560K this unit does not appear to be a short sale.
On to your Princeville home update:
Copyright 11/8/2009 by Hawaii Information Service
NEW LISTINGS 228923 RS A 3 4-5-4-9-42 FS $1,200,000 4184 Kekuanaoa Ln 13,913 sqft 2,940 3/3.5
BACK ON THE MARKET 209942 RS A 551 4-5-4-8-9 FS $999,000 3887 Punahele Rd 11,139 sqft 3,246 4/3
This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.
That's it for this week. Please do not hesitate to call or email with any questions. I spend a good part of my life on the computer trying to keep buyers and sellers up to date - in other words, that's why I'm here so contact me and I'll fill you in on the history be it a condo, house or land anywhere on the Island. Have a great week! And for those of you who asked, no I am not changing my last name now that I am married.
Aloha Elaine
Sting ray seen from our boat in Bora Bora. Can you believe how clear the water is?
Elaine Schaefer (R, CRS, GRI, ABR) Broker in Charge - Princeville Resort Office Certified Residential Specialist Graduate, Realtor's Institute Accredited Buyer's Representative Top Producer 100% Club
RE/MAX Kauai Princeville Resort Office POB 223632 Princeville, HI 96722 cell: 808 639 2935 home fax: 1 808 440 4552 email:soldonkauai@yahoo.com website: www.KauaiRealEstateNow.com blog: http://blogs.alohaliving.com/princeville-condo-sales/
......you can have your own piece of paradise ask me how!
It seems like a long, long time since we were on Bora Bora but in truth, it's only been one very busy week. Tuesday found me driving over to PMRF in Kekaha to the "DV" (distinguished visitors) tent to watch the launch of a medium range ballistic missile target from the base and subsequent intercept by the Japanese ship JS MYOKO, which was located Northwest of Kauai.
It was great fun to see the lift off and watch the missile as it headed skyward, leaving behind a contrail which created a strange grey shadow across the sky as the missile headed North across the setting sun. We even got to see the launch of the interceptor from the Ship on a monitor in an adjacent building. Believe me when I say you don't want to blink or sneeze when the interceptor launches otherwise you'll miss it. It really does happen that fast. For security reasons we were not permitted to witness the actual interception but we did have audio tracking and were able to receive confirmation that the mission ended successfully.
In the past, I've watched a couple of other launches from Kekaha beach but this was the first time I was able to be on base to witness the entire event. You can often see launches from other vantage points on the Island if you have a view to the West. A friend of mine was in Lihue Tuesday and she saw the contrail and figured PMRF must have launched something.
It's been a very hot, muggy week, brought on my some "weather fronts" which all but killed the trades. Fortunately, we have them back today as it is once again, a bright sunny Saturday where the trades are greatly appreciated. On to your update:
Copyright 10/31/2009 by Hawaii Information Service
NEW LISTINGS 228342 T A 6 4-5-3-6-22-50 FS $1,749,000 Kaiulani Of Princeville #50 2,443 #50 3/3.5 228849 T A 3 4-5-4-5-23-25 FS $549,000 Plantation At Princeville #711 1,153 #711 2/2
CONTINGENT SALES 224237 T C 474 4-5-4-5-13-28 FS $250,000 Kamahana #28 1,145 #28 2/2 226998 T C 65 4-5-4-12-2-39 FS $349,000 Hale Moi #219 1,033 #219 1/2
SALES 221307 T S 206 4-5-4-5-18-86 FS $335,000 Puamana #24A 1,312 #24A 2/2 SOLD 10/28/2009 for $300,000 (CNV) DOM 206
EXPIRED 223649 T X 178 4-5-4-5-13-13 FS $449,000 Kamahana #13 2,073 #13 3/2 223620 T X 177 4-5-4-5-18-47 FS $599,000 Puamana #13C 1,532 #13C 2/2 217301 T X 364 4-5-4-11-3-90 FS $695,000 Hanalei Bay Resort #N34 867 #1537-8 1/2
WITHDRAWN 210598 T W 530 4-5-4-5-24-8 FS $485,000 Nihilani At Princeville Resort #3B 1,567 #3B 2/2.5 210691 T W 598 4-5-4-5-24-44 FS $648,000 Nihilani At Princeville Resort #15B 1,874 #15B 3/2.5
PRICE CHANGES 224638 T A 143 4-5-3-6-22-76 FS $975,000- Kaiulani Of Princeville #76 1,738 #76 2/2.5 228387 T A 19 4-5-4-5-18-30 FS $377,777- Puamana #8C 1,532 #8C 2/2 210699 T A 541 4-5-4-5-24-31 FS $530,000- Nihilani At Princeville Resort #11A 1,406 #11A 2/2 218823 T A 330 4-5-4-12-5-8 LH $619,000- Pali Ke Kua Incr I, ii, iii #108A 717 #108 1/1 222114 T A 233 4-5-4-6-1-25 FS $699,000- Villas Of Kamalii #25 1,825 #25 3/3 224267 T A 163 4-5-4-12-9-19 FS $725,000- Pali Ke Kua Iii #141 1,148 #141 2/2
This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.
It was a relatively slow week in terms of new listings and price changes but two properties did go into escrow, both of which were short sales. The two new listings are actually "born again" listings as both have been on the market for extended periods in the past. Ka'iulani 50 is a developer's unit which was previously listed from 12/06 to 1/08 for $1.8M. It is new this week listed at $1.749M.
Plantation 711, priced at $549K was purchased for $455,402 on 9/05. This unit first came on the market in 1/05 at $575K and was listed for 352 days before it was withdrawn on 1/06. Since the seller only took possession of the on 9/05 I would say that they were already under contract with the developer back in 1/05 when it was first listed apparently with the intention of "flipping" it to a new owner when the current seller took possession. During this listing period the condo went from $575K to $590K to $695K to a high of $725K. It appears from the history that it was unsucessfully in escrow twice but was finally withdrawn. It was relisted from 9/06 to 8/09 starting at $725K and reducing to $619K before it was once again withdrawn with 1,092 market days on 8/09.
I've showed this unit many times because it is one of the nicest ground floor units with stainless steel appliances, upgraded granite slab countertops, upgraded cabinets, travertine tile in the kitchen, designer window coverings plus it is beautifully furnished. It faces out onto Ka Haku road but the landscaping is such that the road noise is not as intrusive as it is in some other similarly placed units. At this "new" price of $549K, it's in the middle of the pack. Here are all the Plantation listings:
Copyright 10/31/2009 by Hawaii Information Service
226519 T A 80 4-5-4-5-23-14 FS $495,000 Plantation At Princeville #412 1,153 #412 2/2 216340 T A 393 4-5-4-5-23-41 FS $499,000 Plantation At Princeville #1111 1,153 #1111 2/2 218864 T A 325 4-5-4-5-23-11 FS $549,000 Plantation At Princeville #321 1,318 #321 3/3 228849 T A 3 4-5-4-5-23-25 FS $549,000 Plantation At Princeville #711 1,153 #711 2/2 214741 T A 382 4-5-4-5-23-66 FS $578,000 Plantation At Princeville #1712 1,153 #1712 2/2 228374 T A 22 4-5-4-5-23-55 FS $579,000 Plantation At Princeville #1421 1,318 #1421 3/3 226280 T A 89 4-5-4-5-23-51 FS $625,000 Plantation At Princeville #1321 1,318 #1321 3/3 216921 T A 382 4-5-4-5-23-3 FS $639,000 Plantation At Princeville #121 1,318 #121 3/3
This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.
Kamahana 28, purchased for $599K in 4/06 went into escrow as a short sale listed at $250K after 474 market days. Hale Moi 219, also went into escrow priced at $349K with a purchase price of $493K in 3/05. Puamana 24A, yet another short sale, closed on 10/28/09 with a purchase price of $300K from a sale price of $349K. This unit sold for $605K in 12/05.
Kamahana 13, purchased for $640K in 10/05 and listed for $449K expired as did Puamana 13C, listed at $599K and purchased for $589K in 11/05. Hanalei Bay Resort 1537/8 which last sold for $430K in 8/04 also expired while listed at $695K.
Two of the developer's Nihilani units were withdrawn: The 3B Hoku model listed at $484K ad the 15B upgraded Makani unit listed at $648K. 15B was originally in escrow with the developer during which time the intended buyer ordered many upgrades but then defaulted and did not close. As a result, this unit has top of the line Fisher and Paykel stainless steel appliances with granite countertops, cherry cabinetry, Subzero Refrigerator and crown molding in the kitchen, living room and master bedroom! It really is a beautiful unit. Keep it in mind if you visit Nihilani as it's still available even though it's off the market.
There were just a few price changes this week, starting with Ka'iulani 76 which went from $1.1M to $975K. This unit sold from the developer on 4/07 for $900,570. Puamana 8C sold as a leasehold for $95K in 7/88 and was then converted to fee simple in 5/00 for $35,700. It reduced from $385K to $377,777. Nihlani 11A, a developer's Moana unit, reduced from $560K to $530. Pali Ka Kua 108 which sold for $$69K in 3/02 went from $649K to $619K. Villas of Kamali'i 25 went from $759K to $699K and last sold for $625K in 3/04. The final reduction is my listing, Pali Ke Kua 141, a beautifully renovated unit purchased for $205K in 1/99. It reduced from $765K to $725K. If you have not seen this unit, and are interested in a PKK that is in move in condition, you must see it. Here are the Pali Ke Kua's on the market:
Copyright 10/31/2009 by Hawaii Information Service
214607 T A 446 4-5-4-12-9-9 FS $589,000 Pali Ke Kua #13 1,135 #13 2/2 204622 T A 679 4-5-4-12-8-28 FS $599,000 Pali Ke Kua Ii #232 993 #232 2/2 218823 T A 330 4-5-4-12-5-8 LH $619,000 Pali Ke Kua Incr I, ii, iii #108A 717 #108 1/1 218310 T A 285 4-5-4-12-5-9 FS $719,900 Pali Ke Kua Incr I, ii, iii #109A 717 #109A 1/1 224267 T A 163 4-5-4-12-9-19 FS $725,000 Pali Ke Kua Iii #141 1,148 #141 2/2 211355 T A 533 4-5-4-12-5-5 FS $743,000 Pali Ke Kua Incr I, ii, iii #105A 717 #105A 1/1
This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.
Now on to your Princeville home update:
Copyright 10/31/2009 by Hawaii Information Service
NEW LISTINGS 228769 RS A 3 4-5-4-7-7 FS $1,200,000 3930 Namakeha Loop 10,127 sqft 1,800 3/2.5
CONTINGENT SALES 219774 RS C 26 4-5-4-13-65 FS $662,000 3717 Albert Rd 12,762 sqft 2,377 3/3 225252 RS C 128 4-5-4-21-10 FS $889,000 3836 Kaweonui Rd 10,018 sqft 2,016 3/3
SALES 223822 RS S 127 4-5-4-13-6 FS $580,150 3695 Kaweonui Rd 11,121 sqft 2,492 4/2 SOLD 10/26/2009 for $575,000 (CNV) DOM 127
This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.
That's it for this week. I hope everyone had a safe and fun filled Halloween filled with lots of good chocolate. At least that would be what I want. It's a beautiful day in Paradise. Don't waste time buying or selling until you get the facts. Please call or email when you are ready to buy or sell. That's why I'm here.
Aloha Elaine
Can't help myself. Here is another picture of the resort we stayed at in Bora Bora.
Elaine Schaefer (R, CRS, GRI, ABR) Broker in Charge - Princeville Resort Office Certified Residential Specialist Graduate, Realtor's Institute Accredited Buyer's Representative Top Producer 100% Club
RE/MAX Kauai Princeville Resort Office POB 223632 Princeville, HI 96722 cell: 808 639 2935 home fax: 1 808 440 4552 email:soldonkauai@yahoo.com website: www.KauaiRealEstateNow.com blog: http://blogs.alohaliving.com/princeville-condo-sales/
......you can have your own piece of paradise ask me how!
I'm back from Bora Bora and yes, we had a fabulous time. The overwater bungalows with the glass topped coffee table for fish watching were everything I dreamed they would be. We even swam under the bungalow ourselves and took each others picture through the glass top coffee table. The wedding ceremony was in traditional Polynesian garb on the Matira beach. Here we are with our marriage official, "Patrick."
We did everything: Swam with sharks in the deepest blue water I've ever seen, (that's my hand you see on the left with the shark in the background)
(Yes, we are in the water with the sharks while taking these pictures!)
Pet and fed stingrays,
rented a small boat and went around the whole island and did the same thing the prior day on a one speed bicycle that defied my expectations and actually lasted the whole 19 miles without falling apart.
We ate great French food and were treated to an unexpected delighted one night at the St. James Restaurant as we sat waterside enjoying dinner, when a huge, and I mean huge (6 foot) manta ray rose up from the deep and did three barrel rolls in the water just below our table before quickly going back into deep water.
While visiting with a gal in the neighboring dive shop the next day we learned they used to give dives out to see this huge ray, but since so many new resorts were constructed out on the motu's (small Islands surrounding Bora Bora) over the last few years, the big mantas moved. If you are on a motu, as we were, and as many of the resorts are, power boats are used to shuttle guests back and forth from the motu to the main Island.
The waters of Bora Bora are so calm because the entire Island is ringed by a fringe of small motus and / or reefs. The shades of blue are another story altogether and in some cases, simply too amazing and beautiful to describe.
I knew I shouldn't get started talking about the past week because my purpose here is to give you the weekly update so I will stop and get back to business. This update is a little longer as it includes the two days I omitted from the update last week due to our departure. So, on to your update:
Copyright 10/25/2009 by Hawaii Information Service
NEW LISTINGS 228548 T A 5 4-5-3-6-22-20 FS $2,650,000 Kaiulani Of Princeville #20 2,864 #20 3/3.5 228569 T A 6 4-5-4-5-39-4 FS $262,500 Cliffs At Princeville #1104 917 #1104 1/2 224986 T A 5 4-5-4-5-39-72 FS $439,000 Cliffs At Princeville #3204 917 #3204 1/2 227179 T A 5 4-5-4-6-1-54 FS $849,000 Villas Of Kamalii #54 1,767 #54 3/3 226738 T A 5 4-5-4-5-16-42 FS $874,000 Alii Kai At Hanalei #5202 1,086 #5202 2/2 228566 T A 2 4-5-4-12-3-34 FS $999,000 Hanalei Bay Villas #34 1,248 #34 2/2.5
UNDER CONTRACT 226523 T U 75 4-5-4-5-4-5 FS $209,000 Princeville Mauna Kai #5A 1,503 #5A 2/2
EXPIRED 217010 SH X 311 4-5-4-6-1-49 FS $230,000 Villas Of Kamalii #49 1,825 #49 3/3 217215 SH X 311 4-5-4-6-1-49 FS $245,000 Villas Of Kamalii #49 1,825 #49 3/3 217229 T X 353 4-5-4-5-18-6 FS $549,000 Puamana #2B 1,532 #2B 2/2
WITHDRAWN 217582 T W 347 4-5-3-6-22-18 FS $2,349,000 Kaiulani Of Princeville #18 2,864 #18 3/3.5 219806 T W 284 4-5-3-6-22-6 FS $2,465,000 Kaiulani Of Princeville #6 2,861 #6 3/3.5
PRICE CHANGES 218643 SH A 327 4-5-4-5-23-30 FS $99,000- Plantation At Princeville #812 1,153 #812 2/2 218642 SH A 327 4-5-4-5-23-30 FS $99,000- Plantation At Princeville #812 1,153 #812 2/2 218641 SH A 327 4-5-4-5-23-30 FS $99,000- Plantation At Princeville #812 1,153 #812 2/2 218640 SH A 327 4-5-4-5-23-30 FS $99,000- Plantation At Princeville #812 1,153 #812 2/2 218639 SH A 327 4-5-4-5-23-30 FS $99,000- Plantation At Princeville #812 1,153 #812 2/2 218864 T A 319 4-5-4-5-23-11 FS $549,000- Plantation At Princeville #321 1,318 #321 3/3 228464 T A 11 4-5-4-5-24-76 FS $639,000- Nihilani At Princeville Resort #26A 1,874 #26A 3/2.5 211712 T A 520 4-5-4-11-3-7 FS $995,000- Hanalei Bay Resort #B13 1,324 #9123/4 2/2
This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.
Ka'iulani 20, purchased from the developer for $1,985,180 in 11/07 is back on the market listed at an optimistic $2.650M. This property was previously listed from 1/08 to 1/09 and from 2/09 to 7/09 for $2.650M and was withdrawn on both occasions. Maybe the third time is a charm. Cliffs 1104 is at a new price of $262,500 but was previously listed from 5/08 to 10/09, starting at $489K and dropping to $275K just before being withdrawn from the market. It last sold for $135K in 3/01. Cliffs 3204 is making it's first appearance on the market since selling for $380K in 1/08. It is now listed for $439K. Villas of Kamali'i 54 was purchased for $607,500 in 11/03 and is back as a new listing at $849K. This unit was listed from 5/06 to 1/07, starting at $1.185M and dropping to $1.095M before it expired. Ali'i Kai 5202 listed at $874 and purchased for $405K in 7/03 was previously listed from 9/06 to 2/07 for $1.195M when it was withdrawn. Last up is Hanalei Bay Villa 34, purchased for $975K in 11/05 and listed for $999K.
No properties sold during this period, however, Mauna Kai 5A, a bank foreclosure listed for $209K went back under contract. This property showed as sold on 9/28 but came back on the market on 10/6 and went back under contract on 10/20.
Two fractional segments of Villas of Kamali'i 49 expired while listed at $230K. This unit sold as a whole unit for $509,400 in 10/03. Puamana 2B also expired while listed for $549K. This unit sold for $510K in 6/05.
Ka'iulani 18, purchased for $1,972,350 in 10/07 and listed for $2.349M was withdrawn after 347 market days. Ka'iulani 6 was also withdrawn, listed for $2.465M and purchased for $2,051,780.
Of the eight price changes this week, 5 were fractional segments of Plantation 812 which went to an amazing $99K from $145K. This unit sold for $729K in 6/06. Plantation 321, purchased for $435K in 7/05 reduced from $649K to $549K. Nihilani 26A, purchased from the developer for $805K in 12/06 reduced from $675K to $639K. The last reduction is Hanalei Bay Resort 9123/4 which went from $1.025M to $995K. This unit sold in 11/00 for $359K.
Now on to your Princeville home update:
Copyright 10/25/2009 by Hawaii Information Service
NEW LISTINGS 227009 RS A 5 4-5-3-12-3 FS $1,988,800 4043 Aloalii Dr 8,972 sqft 3,588 3/3.5 224775 RS A 5 4-5-3-12-4 FS $1,995,000 4035 Aloalii Dr 9,415 sqft 3,407 3/3 210725 RS A 5 4-5-4-8-47 FS $2,999,000 5045 Kapiolani Lp 16,502 sqft 4,226 5/4.5 223389 RS C 5 4-5-4-14-31 FS $1,075,000 3885 Kamehameha Rd 12,127 sqft 2,372 4/3
PRICE CHANGES 210765 RS A 537 4-5-4-23-24 FS $659,000- 3807 Makani Kai Pl 10,386 sqft 1,535 3/2 219774 RS A 20 4-5-4-13-65 FS $662,000- 3717 Albert Rd 12,762 sqft 2,377 3/3 218770 RS A 321 4-5-4-16-77 FS $737,000+ 4117 Kekaulike Ln 10,650 sqft 3,100 3/2.5 221404 RS A 245 4-5-4-14-32-5 FS $1,490,000- 3875 Kamehameha Rd #5 10,332 sqft 3,709 6/6
This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.
That brings us up to date for this week. I'm back home and here to stay so don't hesitate to call or email before buying or selling. Get the facts! That's why I'm here.
Aloha Elaine
View from our bungalow. Click on picture to see the panoramic view.
Elaine Schaefer (R, CRS, GRI, ABR) Broker in Charge - Princeville Resort Office Certified Residential Specialist Graduate, Realtor's Institute Accredited Buyer's Representative Top Producer 100% Club
RE/MAX Kauai Princeville Resort Office POB 223632 Princeville, HI 96722 cell: 808 639 2935 home fax: 1 808 440 4552 email:soldonkauai@yahoo.com website: www.KauaiRealEstateNow.com blog: http://blogs.alohaliving.com/princeville-condo-sales/
......you can have your own piece of paradise ask me how!
Yes, this update is a day or two short and I'll be a few dollars shorter when I get back from Bora Bora, but I am leaving tomorrow - Friday the 16th and decided I'd rather publish a couple of days shy of week's end than not at all. On to your update.
Copyright 10/15/2009 by Hawaii Information Service
NEW LISTINGS 227553 T A 2 4-5-3-6-22-59 FS $995,000 Kaiulani Of Princeville #59 1,892 #59 2/2.5 227552 T A 2 4-5-3-6-22-70 FS $995,000 Kaiulani Of Princeville #70 1,781 #70 2/2.5 227917 SH A 0 4-5-4-5-39-80 FS $79,000 Cliffs At Princeville #3304 1,137 #3304 2/2 228387 T A 3 4-5-4-5-18-30 FS $385,000 Puamana #8C 1,532 #8C 2/2 228464 T A 1 4-5-4-5-24-76 FS $675,000 Nihilani At Princeville Resort #26A 1,874 #26A 3/2.5
BACK ON THE MARKET 225775 T A 85 4-5-4-5-18-15 FS $525,000 Puamana #4C 1,532 #4C 2/2 214741 T A 366 4-5-4-5-23-66 FS $578,000 Plantation At Princeville #1712 1,153 #1712 2/2
SALES 218646 T S 288 4-5-3-6-22-51 FS $1,749,000 Kaiulani Of Princeville #51 2,443 #51 3/3.5 SOLD 10/13/2009 for $1,600,000 (CASH) DOM 288
215869 T S 376 4-5-4-5-23-16 FS $449,900 Plantation At Princeville #422 1,318 #422 3/3 SOLD 10/8/2009 for $440,000 (CASH) DOM 376
225806 T S 25 4-5-4-5-24-40 FS $489,900 Nihilani At Princeville Resort #14A 1,874 #14A 3/2.5 SOLD 10/13/2009 for $490,000 (CNV) DOM 25
221842 T S 151 4-5-4-12-3-32 FS $899,000 Hanalei Bay Villas #32 1,248 #32 2/2 SOLD 10/13/2009 for $817,500 (CNV) DOM 151
WITHDRAWN 210902 T W 481 4-5-4-5-39-4 FS $275,000 Cliffs At Princeville #1104 917 #1104 1/2 221962 T W 216 4-5-4-5-18-30 FS $385,000 Puamana #8C 1,532 #8C 2/2
PRICE CHANGES 223402 T A 178 4-5-3-11-1-30 FS $679,000- Villas On The Prince #30 1,732 #30 3/3 227816 SH A 27 4-5-4-15-21-28 FS $179,000- Sandpiper Village I #128 1,042 #128 2/2 227819 SH A 27 4-5-4-5-13-2 FS $195,000- Kamahana #2 1,171 #2 2/2 227817 SH A 29 4-5-4-15-21-65 FS $195,000- Sandpiper Village I #228 1,173 #228 2/2.5 226523 T A 70 4-5-4-5-4-5 FS $209,000- Princeville Mauna Kai #5A 1,503 #5A 2/2 196998 T A 856 4-5-4-15-21-43 FS $299,000- Sandpiper Village I #206 1,173 #206 2/2.5 227584 T A 27 4-5-4-15-21-28 FS $379,000- Sandpiper Village I #128 1,042 #128 2/2 227585 T A 29 4-5-4-15-21-65 FS $399,000- Sandpiper Village I #228 1,173 #228 2/2.5 227646 T A 27 4-5-4-5-13-2 FS $439,000- Kamahana #2 1,171 #2 2/2
This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.
Two developer's Ka'iulani units are back on the market as new listings, unit 59 and unit 70. Unit 59 was previously listed from 4/05 to 12/07 at the pre-construction price of $875K, increasing to $1.075M as construction continued. It was then listed from 2/08 to 9/09 for $995K, the same price it is listed this time. Unit 70, listed at $995K was previously listed from 6/05 to 12/07 starting at the pre-construction price of $825K and increasing to $995K. A 2 month fractional share of Cliffs 3304 is back on the market as a new listing for $79K. Fractional shares were previously listed from 1/07 to 4/07 for $165K after which time it was withdrawn. It was relisted with another agent from 4/07 to 4/09 starting at $150K and reducing to $129K before it expired. Share 6 of this unit is also currently listed for $99K, down from a high of $165K. Share 6 (probably includes Christmas / New Years) has been on the marekt for 881 days.
Puamana 8C is listed twice on this update, once under the withdrawn section showing it was taken off the market on 10/11 and again as a new listing on 10/12. Purchased for $95K as a leasehold in 7/88 and converted to fee simple in 5/00 for $35,700 it comes on the market at $385K. It was previously listed for the month of May in 2008 starting at $644,900 and reducing to $599K before it was withdrawn. From 9/08 to 1/09 it was listed for $499K, expiring at that price. It was then listed from 3/09 to 10/11/09 going from $416,900 to $385K before it was withdrawn and relisted with a new agent on 10/12. Nihilani 26A is a new listing at $675K and was purchased from the developer in 12/06 for $805K. This unit is not a short sale.
Puamana 4C is back on the market after expiring. This unit sold for $487K in 4/07. Plantation 1712 is also returning to the market after expiring whle listed at $578K. It was purchased in 2/08 for $515K.
We've had four sales this week, so far! Ka'iulani 51, a developer's unit, closed at $1.6M with a list price of $1.749M. Just goes to show how flexible developer prices are in this market. Plantation 422 finally closed this week. This bank foreclosure was in escrow once before and fell out but this second time worked like a charm. Purchased in 11/05 for $738K, 422 started out listed at $599,900 and worked its way down $449,900 closing at $440K in a cash transaction. Nihilani 14A, a bank REO very attractively priced at $489,900 closed at $490K. I bet this one generated mulitple offers. This unit sold in 3/06 for $761,450. Hanalei Bay Villas 32, listed for $899K closed at $817,500. This unit was purchased for $950K in 11/05.
Cliffs 1104, purchased for $135K in 3/01, was listed for $275K when withdrawn from the MLS after 481 days on the market. It started at $489K and had one reduction to $275K in 6/09. Puamana 8C was withdrawn with 216 market days. This unit is also under the new listings portion of this update.
Several fractional units as well as the "whole" offerings were reduced this week. First up is Villas on the Prince 30, which went from $699,995 to $679K. This unit sold from the developer for $565K in 3/04. Next is Sandpiper 128, purchased for $490K in 6/05. This fractional share reduced from $198K to $179K. Kamahana 2, purchased for $136K in 11/94 reduced from $250K to $195K for a fractional share. Sandpiper 228 sold for $535K in 6/05 and reduced to $195K to $250K for the fractional share. The full purchase or "whole" price of each of these units also reduced. Sandpiper 128 went from $399K to $379K. Sandpiper 228 went from $439K to $399K while Kamahana went from $459K to $439K. All three units are owned by the same seller. Also reducing is Sandpiper 206 which went from $318K to $299K. This unit sold for $114,500 in 11/99. The bank owned Mauna Kai 5A that came back on the market after I thought it had sold reduced from $219K to $209K. This unit sold for $200K in 8/02 and was taken by the bank in 7/09.
Here is your Princeville home update:
Copyright 10/15/2009 by Hawaii Information Service
NEW LISTINGS 228344 SH A 1 4-5-4-14-30 FS $295,000 3891 Kamehameha Rd 11,262 sqft 3,599 3/3
CONTINGENT SALES 203978 RS C 693 4-5-3-11-41 FS $899,000 4120 Aloalii Dr 9,103 sqft 2,521 3/3.5
This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.
That's it for this week. I'm off tomorrow for Bora Bora and our overwater bungalow. As I mentioned in my last blog, I decided to treat myself to a trip to Bora Bora for my 60th birthday. Several days after I told my significant other of the plans I'd made, I found he'd made some plans of his own when he proposed to me about two weeks later on the second anniversary of our meeting. Long story short, we are going to Bora Bora on the 16th and getting married at sunset on the beach in a traditional ceremony on my birthday, the 20th, returning the 24th.
If you have questions, I hope they can wait until the 24th as I'd be delighted to answer them at that time. If you are agent wanting to show one of my listings, please check the listing for showing instructions. If you are an agent with an offer on one of my listings, please contact my broker. This is one time in my life that I am going to be pretty much out of communication as Verizon doesn't work in French Polynesia and internet access is slow.
I'll be back with next week's update on Sunday the 25th. Until then, have a wonderful week. I know I will.
Aloha Elaine
Elaine Schaefer (R, CRS, GRI, ABR) Broker in Charge - Princeville Resort Office Certified Residential Specialist Graduate, Realtor's Institute Accredited Buyer's Representative Top Producer 100% Club
RE/MAX Kauai Princeville Resort Office POB 223632 Princeville, HI 96722 cell: 808 639 2935 home fax: 1 808 440 4552 email:soldonkauai@yahoo.com website: www.KauaiRealEstateNow.com blog: http://blogs.alohaliving.com/princeville-condo-sales/
......you can have your own piece of paradise ask me how!
Yes, I finally made it to the "new" St. Regis to check it out, and yes, I parked my own car. Thanks to those of you who told me you'd been there and that self park was still alive and well. I can only guess that the day I went the greeter at the entry gazebo had delusions of grandeur when he told me that it was only valet parking because it was "a St. Regis now."
I have to say, I was pleasantly surprised. The hotel has an air of subtle elegance and warmth that I found very peaceful and welcoming. It is very understated and comfortable. The entry vestibule welcomes you with a beautiful orchid arrangment, and opens up to the spa, reception area and sitting areas, highlighted by a fabulous chandelier which is the focal point of the lobby.
Take a look for yourself. Even though it was an overcast day, the hotel and grounds still shone. Here is the view that meets you looking over the bluff towards Bali Hai: .
Here is the view of the hotel from the parking lot:
The smaller vestibule has an intimate fee which is quite different from the old hotel which immediately opened up to the entire space: The ornate chandelier is the focal point of the lobby:
Close up of the chandelier:
The living room leads to the lanai and great views:
Here's a close up of the comfortable living room seating:
The view - nothing else need be said:
Now step outside onto the lanai overlooking Hanalei Bay and Bali Hai:
Sit down, relax and enjoy:
As you come back in, you'll see the Spa entrance across the lobby:
As you walk back out to the parking lot, don't forget to stop and admire the white hibiscus:
And if you want to own a condo as close to the new St.Regis as possible, Pu'u Po'a is seen adjacent to the hotel parking lot:
I doubt I would ever have a reason to stay at the hotel, but I will certainly take advantage of the ambiance of the spa and restaurant. I understand shops will be open after the first of the year. Go check it out if you have a chance. You will not be disappointed.
Aloha, Elaine
Elaine Schaefer (R, CRS, GRI, ABR) Broker in Charge - Princeville Resort Office Certified Residential Specialist Graduate, Realtor's Institute Accredited Buyer's Representative Top Producer 100% Club
RE/MAX Kauai Princeville Resort Office POB 223632 Princeville, HI 96722 cell: 808 639 2935 home fax: 1 808 440 4552 email:soldonkauai@yahoo.com website: www.KauaiRealEstateNow.com blog: http://blogs.alohaliving.com/princeville-condo-sales/
......you can have your own piece of paradise ask me how!
I mentioned going by the new Princeville Hotel this week to take some pictures of the renovations but got no further than the entry gazebo. Seems all "self parking" has been eliminated due to the "St. Regis" status. You used to be able to self park as long as you didn't take any of the valet spots which were the first few rows. Now, there is "complimentary" valet parking ONLY. I have to say I don't believe any valet parking is complimentary and the day I planned to drive in, I had nothing smaller than a $20. Plus, it probably would have taken longer for them to park then run and get my car again than it would have for me to take the pictures I wanted. So I made a u turn around the gazebo and left.
It used to be nice to self park in that lot then stroll along the bluff edge enjoying the ocean below or to walk out to the gazebo which marked the site where the German Anton Georg Scheffer attempted a takeover of Kauai by trying to build a village named after himself. As it turned out, he was run off the Island. Anyhow, I miss the self park aspect but as the gentleman in the gazebo said "It's a St. Regis now...."
I found the St. Regis Princeville Resort website and learned that published room rates start at $525 and go up to $2800 a day. You can get a massage for 60 to 90 minutes starting at $165 to $240 or facial for $170 to $225. Never fear-I'll take pictures another day now that I know the agenda....
On to your update:
Copyright 10/10/2009 by Hawaii Information Service
NEW LISTINGS 228178 T A 3 4-5-4-5-24-41 FS $475,000 Nihilani At Princeville Resort #14B 1,567 #14B 2/2.5 227970 T A 5 4-5-4-5-24-23 FS $485,000 Nihilani At Princeville Resort #8B 1,567 #8B 2/2.5 228362 T A 1 4-5-4-5-17-23 FS $499,000 Alii Kai Ii Hanalei #10G 1,037 #10G 2/2 228294 T A 3 4-5-4-5-24-98 FS $530,000 Nihilani At Princeville Resort #33B 1,406 #33B 2/2 228374 T A 1 4-5-4-5-23-55 FS $579,000 Plantation At Princeville #1421 1,318 #1421 3/3 228165 T A 5 4-5-4-12-10-27 FS $595,000 Emmalani Court #415 1,456 #415 2/2 228296 T A 3 4-5-4-5-24-21 FS $650,000 Nihilani At Princeville Resort #7C 1,972 #7C 2/3 227839 T A 5 4-5-4-6-1-18 FS $825,000 Villas Of Kamalii #18 1,825 #18 3/3 228145 T A 5 4-5-4-12-11-3 FS $999,000 Puu Poa #103 1,771 #103 2/2
BACK ON THE MARKET 226523 T A 65 4-5-4-5-4-5 FS $219,000 Princeville Mauna Kai #5A 1,503 #5A 2/2
CONTINGENT SALES 208900 T C 527 4-5-4-5-4-12 FS $525,000 Ka'eo Kai Ph I #2B 2,100 #2B 3/3
UNDER CONTRACT 219219 T U 327 4-5-4-5-30-20 FS $325,000 Princeville Mauna Kai #D302 1,488 ##25 3/2
WITHDRAWN 227490 T W 27 4-5-4-6-1-58 FS $759,000 Villas Of Kamalii #58 1,761 #58 3/3 217023 T W 349 4-5-4-6-1-27 FS $845,000 Villas Of Kamalii #27 1,815 #27 3/3
TEMPORARILY WITHDRAWN 218883 T T 304 4-5-4-5-23-55 FS $557,777 Plantation At Princeville #1421 1,318 #1421 3/3
PRICE CHANGES 225402 T A 94 4-5-4-5-17-14 FS $497,000- Alii Kai Ii Hanalei #9F 1,037 #9F 2/2 210699 T A 520 4-5-4-5-24-31 FS $560,000- Nihilani At Princeville Resort #11A 1,406 #11A 2/2 216921 T A 361 4-5-4-5-23-3 FS $639,000- Plantation At Princeville #121 1,318 #121 3/3 220840 T A 217 4-5-4-6-1-33 FS $849,000- Villas Of Kamalii #33 1,825 #33 3/3
This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.
Looks like Nihilani is having a sale what with all the units that came on the market this week, starting with 14B. This Hoku unit sold from the developer on 3/06 for $591,102 and is listed well below that price at $475K, undercutting the developer's price of $485K for their Hoku unit, 8B, which is the next new listing. This unit is down from the high of $699,200 when it was listed from 6/07 to 10/07. It was listed after that from 4/08 to 2/09 starting at $665,200 and reducing to $578K before it was withdrawn. Ali'i Kai 10G is back on the market at $499K, having been previously listed from 8/08 to 8/09 starting at $599K and reducing to $499K. It last sold for $129,500 in 6/89. Next up is another developer's Nihilani unit, a Moana floorplan listed at $530K. This price is an adjustment from the last time it was listed from 4/08 to 2/09 when the price tag started at $690K and reduced to $630K during the life of the listing.
Plantation 1421 is not really a new listing but just a brokerage change. When agents change affiliation they typically take their listings with them. It was previously listed from 12/08 to 10/09 for $577,777 and comes back on this time without all the "lucky sevens" at $579K. 1421 last sold for $536,066 in 2/06. Next up is Emmalani Court 415 listed for $595K. It was listed from 9/06 to 12/06 for $875K and from 7/08 to 12/08 for $775K. This unit last sold for $610K in 5/05. We have another price adjustment on a developer's Nihilani, unit 7C which hits the market this time at $650K for their largest model, the one level upstairs "Mahina." 7C was listed from 9/07 to 1/09 starting at $829K and reducing to $754,200 before it was withdrawn from the market. This listing brings the number of Nihilani units on the market to 15 total. Here is the list:
Copyright 10/11/2009 by Hawaii Information Service
225956 T A 31 4-5-4-5-24-56 FS $425,000 Nihilani At Princeville Resort #19B 1,567 #19B 2/2.5 228178 T A 4 4-5-4-5-24-41 FS $475,000 Nihilani At Princeville Resort #14B 1,567 #14B 2/2.5 210598 T A 515 4-5-4-5-24-8 FS $485,000 Nihilani At Princeville Resort #3B 1,567 #3B 2/2.5 227970 T A 6 4-5-4-5-24-23 FS $485,000 Nihilani At Princeville Resort #8B 1,567 #8B 2/2.5 227263 T A 37 4-5-4-5-24-46 FS $498,000 Nihilani At Princeville Resort #16A 1,406 #16A 2/2 227872 T A 13 4-5-4-5-24-16 FS $499,000 Nihilani At Princeville Resort #6A 1,874 #6A 3/2.5 226115 T A 363 4-5-4-5-24-50 FS $517,000 Nihilani At Princeville Resort #17B 1,567 #17B 3/2.5 228294 T A 4 4-5-4-5-24-98 FS $530,000 Nihilani At Princeville Resort #33B 1,406 #33B 2/2 210699 T A 521 4-5-4-5-24-31 FS $560,000 Nihilani At Princeville Resort #11A 1,406 #11A 2/2 216359 T A 379 4-5-4-5-24-68 FS $575,000 Nihilani At Princeville Resort #23B 1,406 #23B 2/2 220974 T A 243 4-5-4-5-24-63 FS $599,000 Nihilani At Princeville Resort #21C 1,972 #21C 2/3 227167 T A 44 4-5-4-5-24-74 FS $599,000 Nihilani At Princeville Resort#25B 1,567 #25B 2/2.5 225391 T A 104 4-5-4-5-24-2 FS $639,000 Nihilani At Princeville Resort #1B 1,874 #1B 3/2.5 210691 T A 583 4-5-4-5-24-44 FS $648,000 Nihilani At Princeville Resort #15B 1,874 #15B 3/2.5 228296 T A 4 4-5-4-5-24-21 FS $650,000 Nihilani At Princeville Resort #7C 1,972 #7C 2/3
This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.
Remember, this is the only complex to offer four different floor plans, two of which had the option of an extra bedroom if selected during construction, so be sure to check the square footage to be sure which floor plan you are viewing. For example, in the list above, 17B shows as a 3 bed/ 2.5 bath but it is a Hoku with the conversion of the family room to a third bedroom and not the standard Makani floor plan. Makani has 1,874 sqft. Next up is Villas of Kamali'i 18, listed for $825K and purchased for $630K in 1/04. The final unit is Pu'u Po'a 103 which was recently withdrawn and is now with a new agent with a new low price of $999K. This unit was listed from 10/06 to 6/07 at $1,899,900 and from 3/09 to 9/09 starting at $1.259M and reducing to $1.179M during the life of the listing. Here are all the Pu'u Po'a's on the market:
Copyright 10/11/2009 by Hawaii Information Service
228145 T A 6 4-5-4-12-11-3 FS $999,000 Puu Poa #103 1,771 #103 2/2 225541 T A 97 4-5-4-12-11-46 FS $1,095,000 Puu Poa #404 1,352 #404 2/2 202256 T A 701 4-5-4-12-11-7 FS $1,450,000 Puu Poa #107 2,065 #107 2/2
This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.
For some unknown reason, Mauna Kai 5A is back on the market this week even though it showed as having sold on 9/28/09 for $219K. This unit is a bank foreclosure so maybe there was a problem somewhere that prevented the sale of the unit. I don't know.
Ka'eo Kai 2B finally found a buyer and went into escrow listed at $525K after 527 days on the market. This unit sold for $240K in 4/01. Mauna Kai 25 also went into escrow listed at $325K with 327 market days. This unit sold for $585K in 8/07.
Two Villas of Kamali'i units were withdrawn: units 58, listed for $759K and purchased for $432,155 in 5/03 and unit 27, listed for $845K and purchased for $465 in 11/03. Plantation 1421 shows as temporarily withdrawn prior to being relisted with the new brokerage.
There were only a few price changes this week. Ali'i Kai 9F, purchased for $560K in 9/05 went from $519,900 to $497K. The developer's Nihilani unit 11A adjusted downward from $620K to $560K while Plantation 121, an agent owned unit purchased for $488,993 in 5/05 reduced to $639K from $645K. The final price change is Villas of Kamali'i 33, which went from $879K to $849K. This unit last sold for $649K in 7/04. Now on to your Princeville home update:
Copyright 10/10/2009 by Hawaii Information Service
NEW LISTINGS 219774 RS A 5 4-5-4-13-65 FS $710,000 3717 Albert Rd 12,762 sqft 2,377 3/3 228327 RS A 1 4-5-4-18-5 FS $950,000 4156 Mahina Pl 12,194 sqft 1,668 3/2 228196 RS A 5 4-5-4-10-41 FS $1,495,000 5322 Honoiki Rd 10,146 sqft 2,195 3/2.5
BACK ON THE MARKET 223132 RS A 151 4-5-4-16-71 FS $779,000 4381 Emmalani Dr 12,127 sqft 1,170 2/2
CONTINGENT SALES 206198 RS C 627 4-5-4-17-21 FS $999,000 4914 Emmalani Dr 10,500 sqft 3,238 4/3.5
SALES 223366 RS S 133 4-5-4-15-1 FS $471,900 3995 Kamehameha Rd 10,244 sqft 2,117 3/2 SOLD 10/9/2009 for $453,000 (CASH) DOM 133
225957 RS S 10 4-5-4-18-31 FS $695,000 4226 Kina'u Pl 11,078 sqft 3,496 4/5 SOLD 9/29/2009 for $685,000 (CNV) DOM 10
This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.
I have my own update this week which is that I am leaving this Friday 10/16 for a week in an overwater bungalow in Bora Bora. Originally planned as a 60th birthday present to myself it changed in a very wonderful way when my significant other proposed to me on the second anniversay of our meeting. He was open to any type of wedding I wanted, at any time, at any place and I decided to make my birthday getaway our marriage and honeymoon. So - for my 60th birthday on 10/20 I am getting a husband in a ceremony set on the beach at sunset in Bora Bora. We return all too soon mid morninng on Saturday October 24th.
If you have questions about real estate please ask them now, or after the 23rd. If you will be on Island during that time, I'm sorry I will miss seeing you. If you need the services of a real estate agent while you are here, I'm happy to refer you to another agent. Agents - if you call between 10/16 and 10/23 for a showing please check the listing for who to call. I will be checking messages but I will be doing so infrequently as you might imagine. That's all the update for this week.
Have a wonderful week- and I'll see if I can manage to valet park at the hotel and get you some pictures.
Aloha Elaine
Over the water bungalows at Bora Bora Lagoons Resort
Elaine Schaefer (R, CRS, GRI, ABR) Broker in Charge - Princeville Resort Office Certified Residential Specialist Graduate, Realtor's Institute Accredited Buyer's Representative Top Producer 100% Club
RE/MAX Kauai Princeville Resort Office POB 223632 Princeville, HI 96722 cell: 808 639 2935 home fax: 1 808 440 4552 email:soldonkauai@yahoo.com website: www.KauaiRealEstateNow.com blog: http://blogs.alohaliving.com/princeville-condo-sales/
......you can have your own piece of paradise ask me how!
September 2009 followed in line with the rest of the year with declining numbers and pricing. This past month there were a total of 40 sales down from 42 in Sep 08, 65 sales in Sep 07, 97 in 06, an unbelievable 201 for Sep 05 ( I can't even fathom that right now - in this market) and 117 sales transactions in Sep 04. Year to date there have been 346 sales compared to 473 this time last year, 745 year to date 07, 1257 in 06, a high of 1381 in 05 and 1285 for 04 year to date.
Of the sales this September, 16 were residential, 10 land, 1 commercial, and 13 were condos. Year to date there were 169 residential sales, 58 land, 5 commercial, 113 condos and 1 business. Compare this to 2008 year to date where there were 227 residential sales, 94 land sales, 7 commercial 144 condos and 1 business.
As you might expect, sales volume is also down with $21.2M sold in Sep 09, $28.6 sold in Sep 08, $56.9M in Sep 07, $77.6M for Sep 06, $128.5M in Sep 05 and $61.6M for Sep 04. Year to date sales volume is at $210.8M for 09, $393.3M year to date 08, $643.4 year to date 07, $846.9 for year to date 06, $934.4M year to date at the height of the market which was 05 and $714.6M for year to date 04. My, how times have changed. I really enjoy looking at these numbers as they certainly tell the story as to how things are now.
Median sales price is up a tick this month in residential going from $525K in Sep 08 to $532K for Sep 09. Land fell from $436K in Sep 08 to $256K Sep 08, with condos going from $495K in Sep 08 to $337K in Sep 09. Despite the slow market, clearly it is an excellent time to buy with pricing at record lows and interest rates at a similar point. Don't let a great opportunity pass you by if you are "in the market."
While I'm on the topic of statistics, I thought I'd throw in a few regarding the real estate agents. We have approximately 480 agents give or take a few. Of those agents, per MLS sales statistics, only 243 have sold anything at all. I'm delighted to say that on this list I come in at number 24. Thank you to all of you who made this possible for me by allowing me to represent you either in the sale or purchase of Kauai real estate. It is much appreciated and I hope I can continue to serve those of you looking for your own piece of paradise. If you wish to see the market stats in it's entirety, I publish the full report on my website under market statistics.
Aloha Elaine
View from Pu'u Po'a 404
Elaine Schaefer (R, CRS, GRI, ABR) Broker in Charge - Princeville Resort Office Certified Residential Specialist Graduate, Realtor's Institute Accredited Buyer's Representative Top Producer 100% Club
RE/MAX Kauai Princeville Resort Office POB 223632 Princeville, HI 96722 cell: 808 639 2935 home fax: 1 808 440 4552 email:soldonkauai@yahoo.com website: www.KauaiRealEstateNow.com blog: http://blogs.alohaliving.com/princeville-condo-sales/
......you can have your own piece of paradise ask me how!
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