Aloha,
Welcome back from a long holiday weekend. I know I'm late with this week's update but it was a very busy weekend for me....and yes, I just had to go to the beach for a couple of hours yesterday. You would have done the same if you were here; it was such a spectacular day. We've had several days in a row now that were simply outstanding - truly how you envision the weather to be in "paradise." I worked through the weekend and finally found my way to Kalihiwai Beach where there was a private patch of sand just waiting for me. The surf was just high enough to entertain visitors and locals alike as they jumped in the waves while also lulling people like myself to sleep who were settled comfortably on the sand nodding off to the sound of the gently crashing waves.
It's what I now refer to jokingly as a "brocha" day....Several years ago my girlfriend and I went to Australia for a vacation. Upon meeting one of our guides, he commented on the beautiful weather by saying it was a "brocha" day. My girlfriend and I looked quizzically at each other, then she asked, "What's a brocha day?" "You know" he said, just like in the "brocha." The Brochure!!!!.....Yes, such beautiful weather that the picture would certainly be in the best travel brochure. It was just the Australian accent that threw us off!
Enough reminiscing; here is your update. Look closely and maybe you'll find your piece of paradise so you too can enjoy many brocha days!
Copyright 2/19/2008 by Hawaii Information Service
NEW LISTINGS
204980 SH A 7 4-5-4-5-23-28 FS $198,000 Plantation At Princeville #722 1,318 #722 3/3
207093 T A 7 4-5-4-5-30-11 FS $599,000 Princeville Mauna Kai #F21 1,478 #F21 3/2
207326 T A 5 4-5-4-5-24-62 FS $600,000 Nihilani At Princeville Resort #21B 1,400 #21B 2/2
BACK ON THE MARKET
174822 T A 628 4-5-4-12-9-28 LH $350,000 Pali Ke Kua Iii #238 993 #238 1/1.5
CONTINGENT SALES
172114 T C 714 4-5-3-11-1-28 FS $799,000 Villas On The Prince #28 1,800 #11-28 3/3
194231 T C 314 4-5-3-6-22-43 FS $1,685,000 Kaiulani Of Princeville #43 2,443 #43 3/3.5
SALES
152028 T S 6 4-5-3-6-22-10 FS $1,900,000 Kaiulani Of Princeville #10 2,873 #10 3/3.5
SOLD 2/15/2008 for $1,921,440 (CNV) DOM 6
UNDER CONTRACT
204020 T U 86 4-5-4-12-2-28 FS $495,000 Hale Moi #208 1,033 #208 2/2
183283 T U 522 4-5-4-5-23-66 FS $578,000 Plantation At Princeville #1712 1,153 #1712 2/2
WITHDRAWN
183228 T W 536 4-5-4-15-21-33 FS $510,000 Sandpiper Village I #133 1,042 #133 2/2
PRICE CHANGES
203022 T A 116 4-5-3-11-1-30 FS $859,000+ Villas On The Prince #30 1,761 #12-30 3/3
195595 T A 285 4-5-4-5-27-8 FS $416,000- Hale Honu #4B 866 #4B 2/1
171233 T A 767 4-5-4-11-3-84 FS $450,000- Hanalei Bay Resort #N22 867 #1513 1/2
196998 T A 252 4-5-4-15-21-43 FS $460,000- Sandpiper Village I #206 1,173 #206 2/2.5
205798 T A 41 4-5-4-6-1-34 FS $849,000- Villas Of Kamalii #34 1,825 #34 3/3
196893 T A 257 4-5-4-12-9-30 FS $849,000- Pali Ke Kua Iii #242 1,135 #242 2/2
172114 T C 714 4-5-3-11-1-28 FS $799,000- Villas On The Prince #28 1,800 #11-28 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.
Starting with our new listings, the Plantation unit # 722 is a fractional at $198K. This unit was purchased by the seller in 11/06 for $740K. Mauna Kai unit F21 has been listed a couple of times before; once from 7/06 to 3/07, starting at $675K and ending at $598K, another time from 5/07 to 9/07, starting at $639K and ending at $580K and finally from 10/07 to 12/07 when it was listed for $589K. Each time this property was withdrawn from the market. It was purchased in 8/04 for $400K and is listed by the owner, who is a real estate agent. Nihilani 21B is also a "recycled" listing, having been previously listed from 1/07 to 1/08 starting at $722K and working its way down to $600K. It is now again listed for $600K which is well below the seller's purchase price of $656,650 in 10/06. Since this condo is new and never lived in it looks like the seller bought it for investment with the intention of flipping it shortly after taking possession. It's unfortunate that the changing market has so dramatically impacted their plans.
Also, I am disappointed to report that the Leasehold Pali Ke Kua unit #238 that went into escrow on 1/15/08 after 628 days on the market, is now back on the market! Let's see how much longer it must wait to find a buyer!
We have two properties that went into escrow; one is Villas on the Prince unit #28 which was purchased from the developer on 10/02 for $507,577. This unit was first listed on 3/06 for $1.195M and gradually reduced until it went to $799K from $889 on 2/12/08. Two days later it went into escrow. This unit was also listed as a fractional and will probably remain active until the contingencies are removed from this transaction. Also showing contingent is the first Ka'iulani resale which I discussed in my last blog. It was purchased for $1,861,490 on 3/07 and went into escrow listed at $1.685M.
The only sale this past week was another Ka'iulani developer's sale.
Two units moved from Contingent to Under Contract status: Hale Moi #208 which went into escrow listed at $495K. This unit was previously listed from 10/07 to 11/07 during which time it was reduced from $525K to $475K. Even though it was relisted at the higher price of $495K it quickly found a buyer with only 86 days on the market. Plantation unit #1712 is short sale and is obviously moving towards closing. It went into escrow on 1/18/08.
My favorite section is always the price changes. This time we only have one unit that is bucking the downward trend and that is Villas on the Prince #30 which was increased from $839K to $859K. Maybe this is the magical numerical combination to bring in a buyer. Villas was purchased in 3/04 for $565K. Hale Honu 4B posted a big reduction from $465K to $416K on 2/16/08. They followed up with a $1000 price reduction 2/19 from $416K to $415K. This unit has been on the market for 285 days and was purchased in 3/06 for $430K. No profit to be made here....
Hanalei Bay Resort unit N22 went from $488K to $450 starting from an all time high of $599K. This unit was purchased on 1/06 for $469,900 and is partially owned by the agent/seller. Sandpiper #206 went from $480K to $460K and was purchased in 11/99 $114,500. Villas of Kamali'i #34 was reduced from $920K to $849K and was purchased in 12/04 for $670K. Pali Ke Kua #244 was reduced from $899K to $849K and was purchased 5/04 for $555K. And finally we have the Villas on the Prince which was discussed under contingent properties.
Moving right along, here are your residential changes for this past week:
Copyright 2/19/2008 by Hawaii Information Service
NEW LISTINGS
207318 RS A 4 4-5-4-10-10 FS $750,000 4115 Kekuanao'a Ln 9,969 sqft 1,228 3/1.75
207210 RS A 6 4-5-4-16-87 FS $865,000 4120 Nalani Ln 11,740 sqft 1,725 3/2
207321 RS C 8 4-5-4-19-5 FS $975,000 5170 Napookala Cir 20,035 sqft 1,776 3/2
BACK ON THE MARKET
202559 RS A 124 4-5-4-7-12 FS $1,950,000 3912 Namakeha Loop 10,055 sqft 2,300 3/3
CONTINGENT SALES
189932 RS C 398 4-5-4-18-17 FS $679,000 4725 Emmalani Dr 10,248 sqft 1,388 2/2
201643 RS C 144 4-5-4-23-7 FS $725,000 4834 Ou Pl 7,650 sqft 1,200 3/2.5
207321 RS C 8 4-5-4-19-5 FS $975,000 5170 Napookala Cir 20,035 sqft 1,776 3/2
SALES
196946 RS S 205 4-5-4-8-24 FS $895,000 5072 Kamamalu Loop 10,806 sqft 2,270 3/2.5
SOLD 2/14/2008 for $845,000 (CASH) DOM 205
WITHDRAWN
198795 SH W 206 4-5-4-19-5 FS $270,000 5170 Napookala Cir 20,035 sqft 1,748 3/2
198792 SH W 206 4-5-4-19-5 FS $270,000 5170 Napookala Cir 20,035 sqft 1,748 3/2
198791 SH W 206 4-5-4-19-5 FS $320,000 5170 Napookala Cir 20,035 sqft 1,748 3/2
198794 SH W 206 4-5-4-19-5 FS $330,000 5170 Napookala Cir 20,035 sqft 1,748 3/2
198793 SH W 206 4-5-4-19-5 FS $330,000 5170 Napookala Cir 20,035 sqft 1,748 3/2
198796 SH W 206 4-5-4-19-5 FS $350,000 5170 Napookala Cir 20,035 sqft 1,748 3/2
PRICE CHANGES
205270 RS A 59 4-5-4-23-53 FS $849,000- 3785 Milimakani Pl 7,812 sqft 1,678 3/2
200442 RS A 168 4-5-4-19-14 FS $1,795,000- 5101 Kuhina Pl 20,646 sqft 3,276 4/3.5
203900 RS A 90 4-5-4-14-26 FS $2,275,000- 3925 Kamehameha Rd 20,093 sqft 3,925 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.
If you have any question on any of the home changes for this week, please do not hesitate to call or email and I'll be happy to research any property for you. Have a wonderful sunny week.
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!
Comments(0)