Princeville condo (and house) + short sale update for the week of Oct 17th to Oct 23rd

Aloha,

It was a busy week with 5 new condo listings Islandwide, 2 came back on the market, there were 5 sales, 2 units went under contract and 9 were withdrawn. Residential had 15 new listings Islandwide, 4 came back on the market, 12 went into escrow, there were 7 sales and 4 properties were withdrawn. Good to see some sales. Seems there are a few buyers that are realizing the golden opportunity and are taking advantage of it. Here is your update for Princeville:

Copyright 10/24/2010 by Hawaii Information Service

NEW LISTINGS
239707 CND AT CPR A 3 4-5-4-5-18-14 FS $279,000 Puamana #4B 1,298 #4B 2/2.00
232706 CND AT CPR A 6 4-5-4-5-30-11 FS $299,000 Princeville Mauna Kai #F21 1,478 #F21 3/2.00

BACK ON THE MARKET
236069 CND AT CPR A 118 4-5-4-15-21-43 FS $249,000 Sandpiper Village I #206 1,173 #206 2/2.01
235501 CND AT,DT CPR A 145 4-5-4-12-3-8 FS $589,900 Hanalei Bay Villas #8 1,244 #8 2/2.01

CONTINGENT SALES
229552 CND AT CPR C 307 4-5-4-5-12-27 FS $349,000 Sealodge Ii #H9 567 #H9 1/1.00
226784 CND AT CPR C 81 4-5-4-6-1-12 FS $550,000 Villas Of Kamalii #12 1,825 #12 3/3.00
216921 CND AT CPR C 740 4-5-4-5-23-3 FS $598,000 Plantation At Princeville #121 1,318 #121 3/3.00

UNDER CONTRACT
238615 CND AT CPR U 35 4-5-4-5-4-14 FS $239,900 Princeville Mauna Kai #4B 1,498 #4B 2/2.00

EXPIRED
235017 CND AT CPR X 158 4-5-4-5-7-23 FS $549,000 Princeville Sealodge #C3 564 #C3 1/1.00

WITHDRAWN
237167 CND DT CPR W 91 4-5-4-12-3-1 FS $568,900 Hanalei Bay Villas #1 1,244 #1 2/2.01
213606 CND AT CPR W 822 4-5-4-5-39-198 FS $691,000 Cliffs At Princeville #9302 1,137 #9-302 2/2.00

PRICE CHANGES
232389 CND AT CPR A 237 4-5-4-5-3-7 FS $179,000- Princeville Paniolo #107 1,058 #107 1/2.00
225686 CND AT CPR A 457 4-5-4-5-16-57 FS $449,000+ Alii Kai At Hanalei #7202 886 #7202 2/2.00
236081 CND AT CPR A 62 4-5-4-12-10-41 FS $525,000- Emmalani Court #524 1,192 #524 2/2.00
233835 CND AT CPR A 197 4-5-4-6-1-45 FS $847,000- Villas Of Kamalii #45 1,825 #45 3/3.00

This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.

Puamana 4B sold for $125K as a leasehold in 1/93 and converted to fee simple in 6/06 for $42K. It is our first new listing this week priced at an attractive $279K. Short sale Mauna Kai F21 is listed at $299K and last sold for $400K in 8/04. This unit was first listed from 7/06 to 3/07 starting at $675K and reducing to $598K before it was withdrawn, from 5/07 to 9/07 starting at $639K and dropping to $580K when it was again withdrawn, once more from 10/07 to 12/07 when it was listed for $589K and finally from 2/08 to 7/08 for $599K.

Unfortunately, Sandpiper 206 fell out of escrow while priced at $249K and is back on the market. This unit sold for $114,500 in 11/99. Hanalei Bay Villas 8 was momentarily withdrawn from the market and put right back on while priced at $589,900. This bank foreclosure sold for $730K in 6/05 and went to the bank in 5/10.

Sealodge H9, which last sold for $745K in 7/06, had to go all the way down to $349K to find a buyer, but it did, and is now in escrow this week. If you like ocean view and don't mind that the unit is only 567 sqft, this short sale would have been the unit for you. It comes as no surprise to see Villas of Kamali'i 12, very well priced at $550K go into escrow this week. This short sale sold for $750K in 6/05 and recently reduced from $575K to $550K on 10/4. The highly upgraded Plantation 121 priced at $598K also found a buyer this week. This unit sold for $488,993 in 5/05.

There were no closings this period but one unit, Mauna Kai 4B, went from contingent to under contract while listed for $239,900. This bank foreclosure sold for $635K in 6/06 and went to the bank on 4/10. We should see it closing in the next couple of weeks.

Sealodge C3 which was priced at $549K, last sold for 5/03 for $365K and was withdrawn from the market. Hanalei Bay Villas 1, a bank foreclosure, was withdrawn while priced at $568,900. This unit sold for $700K in 6/05 and was foreclosed on in 4/10. Also withdrawing from the market is Cliffs 9302 which was listed for $691K and last sold for $205K in 9/99. After 822 market days, and a starting list price of $945K, this seller finally gave up.

As for price changes, we have Paniolo 107, which last sold for $475K in 9/05, reducing from $185K to 4179K. Ali'i Kai 7202 sold for $115K in 1/88 and increased this week from $399K to $449K. Emmalani Court sold as a short sale in 6/09 for $380K and has now reduced from $545K to $525K. The last reduction is Villas of Kamali'i 45, which went from $859K to $847K. This unit sold for $850K in 9/07.

Now on to your Princeville house update:

Copyright 10/24/2010 by Hawaii Information Service

BACK ON THE MARKET
235527 RES DT FL A 118 4-5-4-23-76 FS $619,000 3789 Mapuana Pl 6,398 sqft 1,535 #0 3/2.01

CONTINGENT SALES
237229 RES DT FL C 92 4-5-4-20-31 FS $539,000 5141 Kapi'olani Loop 9,669 sqft 2,262 5/3.00
232164 RES DT FL C 244 4-5-4-18-56 FS $900,000 4158 Kamalani Ln 16,029 sqft 2,834 3/2.01
192009 RES DT FL C 1336 4-5-4-10-27 FS $1,100,000 5222 Honoiki Rd 10,174 sqft 2,860 3/4.00

SALES
236123 RES DT FL S 65 4-5-3-12-3 FS $1,849,000 4043 Aloalii Dr 8,972 sqft 3,588 3/3.01
SOLD 10/18/2010 for $1,675,000 (CNV) DOM 65

214254 RES DT FL S 779 4-5-4-18-20 FS $839,000 4173 Kalani Pl 10,630 sqft 3,464 4/3.01
SOLD 10/18/2010 for $800,000 (CASH, PMM) DOM 779

PRICE CHANGES
235527 RES DT FL A 118 4-5-4-23-76 FS $619,000- 3789 Mapuana Pl 6,398 sqft 1,535 #0 3/2.01
232759 RES DT FL A 230 4-5-4-10-28 FS $669,000- 5230 Honoiki Rd 10,189 sqft 1,688 3/2.00
228196 RES DT FL A 384 4-5-4-10-41 FS $1,100,000- 5322 Honoiki Rd 10,146 sqft 2,195 3/2.01

This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.

Three homes went into escrow: Short sale 5141 Kapiolani Loop priced at $539K went into escrow for the second time. It intially went into escrow on 8/5, returning to the market on 9/29. This home sold for $749K in 3/05. 4158 Kamalani Lane was also in escrow before on 9/3, returning to the market on 10/4. This home sold for $878K in 7/04 and was originally listed at $1.250M. 5221 Honoiki finally went into escrow after an astounding 1336 market days. This new home was initially listed for $2.125M, slowly reducing to the current $1.1M price. Let hope all three of these stay in escrow!

That's it for this week. It's a great market with plenty of inventory, but only a few homes will meet your needs. If you are interested in buying or selling, please call or email for the facts.

Aloha Elaine

Nothing stops me from getting you the best real estate opportunity!

Elaine Schaefer (R, CRS, GRI, ABR, SFR)
Broker in Charge - Princeville Resort Office
Certified Residential Specialist
Graduate, Realtor's Institute
Accredited Buyer's Representative
Short Sale and Foreclosure Resource Certification
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/

......Making your real estate dreams
my business....