Princeville Condo Update for December 30th to January 5th

Aloha Elaine

Aloha,   And one final Happy New Year.  Everyone is planning on more stabilization in the marketplace this year with plenty of opportunity for any buyer looking for it.  Here on Kauai, I continue to feel that one of our major "problems" is a surplus of inventory, which coupled with the copious amounts of negative press that is seen everyday on the various news channels, keeps buyers running scared.  I think once we start seeing properties changing hands, those buyers who have been sitting on the fence will finally realize that if they don't buy, they will miss the opportunity entirely.  For the time being, things are still a little slow, although we had one of the most magnificent sunny days today, which was way overdue after all the rain.  Not only does the sunshine bring out the flowers, it also puts buyers back into the "lets look and see" mood.  Here's what changed in the Princeville condo community this week:

Copyright 1/6/2008 by Hawaii Information Service  

NEW LISTINGS
  205502 T A 2     4-5-4-11-3-125 FS  $995,000  Hanalei Bay Resort #R17    867 #3105-6 1/2 
  205418 T A 2     4-5-4-12-11-37 FS  $2,245,000  Puu Poa #309    1,352 #309 2/2   

SALES
   152031 T S 0     4-5-3-6-22-17 FS  $1,950,000  Kaiulani Of Princeville #17    2,873 #17 3/3.5  
  SOLD 1/3/2008 for $1,971,790 (CNV) DOM 0     

152077 T S 28     4-5-3-6-22-13 FS  $2,050,00  Kaiulani Of Princeville #13    2,861 #13 3/3.5 
  SOLD 1/4/2008 for $2,069,070 (CNV) DOM 28   

EXPIRED
  188646 T X 373     4-5-4-5-3-4 FS  $395,224  Princeville Paniolo #104    1,058 #104 1/2 
  199681 T X 122     4-5-4-15-21-12 FS  $449,900  Sandpiper Village I #112    1,042 #112 2/2 
  200136 T X 133     4-5-4-12-9-26 LH  $530,000  Pali Ke Kua Iii #236    1,135 #236 2/2 
  181966 T X 519     4-5-4-15-21-50 FS  $549,999  Sandpiper Village I #213    1,173 #213 3/2.5   

PRICE CHANGES
  196201 T A 229     4-5-3-11-1-26 FS  $960,000-  Villas On The Prince #26    1,765 #26 3/3 
  202550 T A 82     4-5-3-6-22-41 FS  $1,690,000-  Kaiulani Of Princeville #41    2,479 #41 3/3 
  202473 T A 75     4-5-3-6-22-27 FS  $1,945,000-  Kaiulani Of Princeville #27    2,864 #27 3/3.5 
  193722 T A 272     4-5-4-12-2-35 FS  $529,000-  Hale Moi #215    1,033 #215 1/2 
  194396 T A 179     4-5-4-5-4-17 FS  $599,950-  Ka'eo Kai Ph I #7B    2,603 #7B 3/3 
  191680 T A 297     4-5-4-5-13-28 FS  $639,000-  Kamahana #28    1,145 #28 2/2 
  201459 T A 103     4-5-4-6-1-9 FS  $935,000-  Villas Of Kamalii #9    1,761 #9 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.   

Under new listings, Hanalei Bay Resort R17 is being listed for the first time since it changed hands in 5/05 for $895K.  That is not the case of the other "new listing," Pu'u Po'a unit 309.  This unit was purchased in 9/05 for $1,173,338 and immediately listed for $2,195,000 where it remained for the next 743 days until it expired on 9/15/07.  Now the property is relisted as new for $2,245,000.  Hopefully the seller will have better luck selling this unit over the next two years.  

Both of the sales in Kai'ulani were presales from the developer.  There were several expirations this time, but only two of them had any price reductions during the life of the listing. Those were Paniolo 412 which reduced from $412K to $305,224 and Sandpiper which reduced from $575K to $549,999 on 11/5/07, just shortly before it expired.  

Of course, we always love our reductions.  Villas on the Prince went from $999,900 to $985,960.  The two Kai'ulani units are re-sales.  #41 which was purchased on 2/07 for $1,609,050 went from $1,750,000 to $1,690,000.  Unit 27 closed in 8/07 for $1,652,100 and was reduced from$1,965,000 to $1,945,000.  Hale Moi 215 went from $559K to $529K, Ka'Eo Kai 7B from $619,950 to $599,950, starting out at $649,950 when it was first listed.  Kamahana #28 went from $643K to $639K, having started out at $725K.  Villas of Kamali'i #9 was reduced from $955K to $935K.   

My vote for the price reduction of the week is not found in Princeville and is not a condo.  It is 2297 H Kahili Quarry, 11.81 acres in Kilauea farms.  This property was reduced from $3,995,000 to $2,995,000.  You just can't beat a Million Dollar price reduction. Happy Real Estate Hunting.  

Aloha, Elaine    

Elaine Schaefer (R, GRI, ABR)
Broker in Charge - Princeville Resort Office
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
......you can have your own piece of paradise
ask me how!