Aloha,
This week has just flown by - maybe because it stated with completion of the Marathon last Sunday followed by two days of recovery. Nevertheless, here we are again, with a new update already. You'll see some new low pricing in Nihilani with the listing of yet another short sale. Here is your update:
Copyright 9/13/2009 by Hawaii Information Service
NEW LISTINGS
227557 T A 3 4-5-3-6-22-2 FS $1,995,000 Kaiulani Of Princeville #2 2,843 #2 3/3.5
225956 T A 3 4-5-4-5-24-56 FS $425,000 Nihilani At Princeville Resort #19B 1,567 #19B 2/2.5
227490 T A 2 4-5-4-6-1-58 FS $759,000 Villas Of Kamalii #58 1,761 #58 3/3
SALES
222926 T S 125 4-5-4-5-24-66 FS $565,000 Nihilani At Princeville Resort #22C 1,874 #22C 3/2.5
SOLD 9/11/2009 for $520,000 (CASH) DOM 125
223040 T S 87 4-5-4-11-3-127 FS $650,000 Hanalei Bay Resort #R25 867 #3201-2 Guava 1/2
SOLD 9/11/2009 for $525,000 (CNV) DOM 87
EXPIRED
215880 T X 359 4-5-4-5-16-33 FS $899,000 Alii Kai At Hanalei #4301 1,086 #4301 2/2
WITHDRAWN
207580 T W 560 4-5-3-11-1-20 FS $869,000 Villas On The Prince #20 1,767 #20 3/3
207166 T W 581 4-5-3-6-22-59 FS $995,000 Kaiulani Of Princeville #59 1,892 #59 2/2.5
206788 T W 581 4-5-3-6-22-70 FS $995,000 Kaiulani Of Princeville #70 1,781 #70 2/2.5
224707 T W 88 4-5-4-12-2-16 FS $280,995 Hale Moi #116 1,033 #116 1/2
220906 T W 215 4-5-4-5-23-21 FS $505,000 Plantation At Princeville #611 1,153 #611 2/2
TEMPORARILY WITHDRAWN
220548 T T 226 4-5-4-5-23-22 FS $573,000 Plantation At Princeville #612 1,153 #612 2/2
PRICE CHANGES
226124 T A 48 4-5-4-5-3-3 FS $239,800- Princeville Paniolo #103 1,058 #103 1/2
225703 T A 65 4-5-4-15-21-34 FS $245,000- Sandpiper Village I #134 1,042 #134 2/2
225622 T A 67 4-5-4-5-18-39 FS $375,000- Puamana #11B 1,673 #11B 3/3
214167 T A 410 4-5-4-12-8-24 LH $449,000+ Pali Ke Kua Ii #130 1,100 #130 2/2
216921 T A 334 4-5-4-5-23-3 FS $665,000- Plantation At Princeville #121 1,318 #121 3/3
226466 T A 18 4-5-4-5-16-36 FS $899,000- 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.
First up is a developer's Ka'iulani 2, listed at $1.995M. This unit was originally listed for $1.850M from 12/06 to 8/07 when it expired, then was relisted at the same price from 5/08 to 6/08 when it was withdrawn. It was most recently listed from 8/08 to 8/09 for $2.195M and expired at that price. Nihilani 19B, a short sale, sets a new low for the reverse floorplan Hoku model at $425K. This unit sold from the developer for $669,500 in 9/06. This unit should go fast. Villas of Kamali'i 58 is the last new listing, with a price of $759K. It was previously listed from 4/06 to 9/06 starting at $1.1M and reducing to $995K before it was withdrawn and again from 6/08 to 1/09, starting at $899K and reducing to $849K when it was again withdrawn. It was purchased for $432,155 in 5/03.
There were no properties that came back on the market nor any contingent sales this week. However, two units closed escrow, one of which was another Nihilani short sale, unit 22C which was purchased from the developer for $848,956 in 11/06. Initially listed for $620K, this Makani unit reduced down to $565K before finding a buyer and closed at the low price of $520K. Hanalie Bay Resort 3201/2, purchased in 4/92 for $240K and listed for $650K closed considerably below that list price at $525K. It should have, however, provided some capital gains for the seller.
Ali'i Kai 4301, listed at $899K and purchased for what now seems like an exceptionally high $1,157,500 in 6/06, expired with 359 market days. Villas on the Prince 20, which sold for $459,172 from the developer in 3/02 was withdrawn from the market as were two of the developer's Ka'iulani units, #59 and 70. Hale Moi 116, listed for $280,995 as a short sale and purchased for $459K in 10/04 was withdrawn. Perhaps we'll next see this unit as a foreclosure. Plantation 611, listed for $505K was withdrawn after 215 market days. It last sold for $630K in 10/06. Another Plantation, unit 612, listed at $573K and purchased for $455,402 in 10/05, was temporarily withdrawn.
Our price changes start with Paniolo 103 which just sold in 7/09 for $184,900 and was immediately relisted after some renovation. This unit reduced from $239,500 to $239K for the sake of keeping in on the daily update. Sandpiper 134, purchased for $485K in 7/05 reduced from $255K to $245K, while Puamana 11B went from $400K to $375K. 11B was purchased for $445,500 in 9/07. Pali Ke Kua 130, a leasehold unit, went the other way, going from $399K back up to $449K. This agent owned unit sold for $429K in 3/06. Plantation 121, another agent owned unit, reduced from $678k to $665K and last sold for $488,993 in 5/05 from the developer. The final reduction is Ali'i Kai 4304, purchased for $541,500 in 2/04. This unit reduced from $925K to $899K.
Now on to your Princeville Home update:
Copyright 9/13/2009 by Hawaii Information Service
NEW LISTINGS
227438 RS A 2 4-5-4-19-17 FS $997,755 5104 Napo'okala Cir 15,139 sqft 3,848 4/3.5
CONTINGENT SALES
223822 RS C 132 4-5-4-13-6 FS $580,150 3695 Kaweonui Rd 11,121 sqft 2,492 4/2
EXPIRED
226912 RS X 21 4-5-3-12-11 FS $1,595,000 3991 Aloalii Dr 7,827 sqft 3,389 3/2.5
WITHDRAWN
205771 SH W 606 4-5-4-14-30 FS $340,000 3891 Kamehameha Rd 11,262 sqft 3,599 3/3
223456 RS W 142 4-5-4-16-26 FS $1,215,000 4979 Emmalani Dr 10,895 sqft 2,381 3/2.5
218120 RS W 252 4-5-4-8-62 FS $1,475,000 3812 Punahele Rd 14,573 sqft 2,900 3/2
TEMPORARILY WITHDRAWN
224862 RS T 76 4-5-4-13-63 FS $650,000 3737 Albert Rd 10,665 sqft 2,219 3/2
212538 RS T 449 4-5-4-17-9 FS $2,198,000 4881 Emmalani Dr 10,852 sqft 3,510 3/4
PRICE CHANGES
226809 RS A 27 4-5-4-20-33 FS $675,000- 3975 Punahele Rd 9,979 sqft 1,960 3/2.5
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, there hasn't been a whole lot of activity out there. The one house that went into escrow, 3695 Kaweonui, has been in escrow twice before and fallen out both times. Maybe the third time will be a charm. Hopefully, as the Hotel comes back on line and the golf course become operational we'll see more buyers coming back to this area. There are some unprecedented buys out there if you have the time and patience to see a short sale through to it's conclusion and we are seeing more seller's finally come to terms with the market in the way of more realistic list prices. If you have any questions - you know who to ask. Get the facts before you buy or sell.
Aloha Elaine
PS I got engaged this past week too!
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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