Aloha,
I think I've finally caught up! Last week was exceptionally busy after coming back from being on Oahu from Wed, the 9th to Sunday the 13th. This week I'm back on track, even if the weather is so beautiful that it just begs for one to go to the beach - to swim, body surf, lay in the sun - for anything. Oh well. Even if I can't partake in all that Kauai has to offer it's still great just being in Paradise. On to your weekly condo update:
Copyright 4/20/2008 by Hawaii Information Service
NEW LISTINGS
207502 T A 3 4-5-4-5-3-17 FS $399,000 Princeville Paniolo #202 1,058 #202 1/2
210059 T A 6 4-5-4-5-27-18 FS $450,000 Hale Honu #9B 1,085 #9B 3/2
210045 T A 2 4-5-4-5-27-1 FS $460,000 Hale Honu #1A 1,085 #1A 3/1.5
209990 T A 3 4-5-4-5-30-19 FS $619,000 Princeville Mauna Kai #D301 1,488 #D301 3/2
209296 T A 4 4-5-4-11-3-100 FS $700,000 Hanalei Bay Resort #P24 867 #1207-8 1/2
210042 T A 5 4-5-4-5-23-24 FS $729,000 Plantation At Princeville #622 1,366 #622 3/3
210179 T A 3 4-5-4-5-16-51 FS $875,000 Alii Kai At Hanalei #6103 1,088 #6103 2/2
209295 T A 4 4-5-4-11-3-14 FS $1,350,000 Hanalei Bay Resort #C16 1,705 #4101-2-3 3/3
BACK ON THE MARKET
201459 T A 288 4-5-4-6-1-9 FS $925,000 Villas Of Kamalii #9 1,761 #9 3/3
CONTINGENT SALES
196332 SH C 332 4-5-4-6-1-42 FS $230,000 Villas Of Kamalii #42 1,825 #42 3/3
SALES
185798 T S 533 4-5-3-11-1-14 FS $869,000 Villas On The Prince #14 1,737 #14 3/3
SOLD 4/16/2008 for $825,000 (CNV) DOM 533
206596 T S 68 4-5-4-5-24-82 FS $599,000 Nihilani At Princeville Resort #28A 1,406 #28A 2/2
SOLD 4/11/2008 for $599,000 (CNV) DOM 68
UNDER CONTRACT
207945 T U 37 4-5-4-5-18-81 FS $419,000 Puamana #22C 1,790 #22C 2/2
EXPIRED
202686 T X 180 4-5-4-5-4-9 FS $579,000 Ka'eo Kai Ph I #9A 1,503 #9A 2/2
176670 T X 726 4-5-4-5-16-57 FS $799,000 Alii Kai At Hanalei #7202 886 #7202 2/2
WITHDRAWN
199866 T W 240 4-5-4-5-27-1 FS $485,000 Hale Honu #1A 1,085 #1A 3/1.5
200693 T W 227 4-5-4-5-16-37 FS $879,000 Alii Kai At Hanalei #5101 1,086 #5101 2/2
PRICE CHANGES
200564 T A 234 4-5-4-5-16-2 FS $539,000- Alii Kai At Hanalei #1102 1,086 #1102 2/2
201318 T A 215 4-5-4-5-18-32 FS $599,000- Puamana #9A 1,532 #9A 2/2
183699 T A 597 4-5-4-5-23-25 FS $655,000- Plantation At Princeville #711 1,153 #711 2/2
206852 T A 79 4-5-4-6-1-29 FS $899,000- Villas Of Kamalii #29 1,825 #29 3/3
201459 T A 288 4-5-4-6-1-9 FS $925,000- Villas Of Kamalii #9 1,761 #9 3/3
202670 T A 181 4-5-4-12-11-53 FS $2,149,000- Puu Poa #411 1,777 #411 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.
Starting with our new listings, Paniolo #202, listed for $399K was originally puchased as a Leasehold in 5/94 for $120K. The fee was purchased in 11/94 converting this property from leasehold to fee simple. This is the first time it has been listed since that purchase. Hale Honu #9B is another new entry into the active listing venue. At $450K for a 3 bedroom, it is well ahead of recent sales and was purchased in 4/04 for $355K. This is the only Hale Honu sale since 6/1/07. Please note that the one sold was a 3 bed / 1.5 bath while the new listing is a 3 bedroom 2 bath:
Copyright 4/21/2008 by Hawaii Information Service
195591 T S 84 4-5-4-5-27-20 FS $425,000 Hale Honu #10B 1,085 #10B 3/1.5
SOLD 9/14/2007 for $365,000 (CNV) DOM 84
To continue; another Hale Honu unit 1A, now listed for $460K was previously listed from 8/07 to 4/08 for $485K but was withdrawn after 240 DOM. It was purchased in 7/04 for $384,500. Mauna Kai D301 sold for $525K in 10/06 and is now listed for $619K. Hanalei Bay Resort P24 sold for $250K (can you even imagine that now!!) in 9/98 and is listed for the first time at $700K. The Plantation #622 is new on the market at $729K but offers its seller little hope of breaking even, since it was purchased in 8/05 for $710K. Alii Kai #6103 at $875K is also new on the market, having been purchased in 4/05 for also $710K. Hanalei Bay Reosrt C16, listed for $1.350M was previously listed from 5/06 to 5/07 for $1.750M. It was purchased for an unbelievable $250K back in 9/98. I guess we all should have scraped some money together and bought something, anything back then!
Villas of Kamali'i is back on the market after falling out of escrow. It started out listed in 9/07 for $995K then reduced down to as low as $935K before going into escrow on 1/08. Considering that it came back on the market on 4/08, it's a good bet that the transaction fell apart due to financing. This unit, which is owned by an real estate agent, was puchased in 2/04 for $635K.
We have one contingent sale which is another fractional offering of Villas of Kamali'i # 42 listed for $230K. Three "shares" have already closed leaving two more still available. If you have ever thought of owning a fractional, this unit is a good one to consider. With 1825 sqft and 3 bedrooms and 3 baths, it's more like a home than a condo. It's also beautifully furnished and even more importantly, well planned and managed. Email or call if you'd like more information on fractionals and why " those in the know" feel fractionals will constitute 25% of the market in 5 years.
There were two sales this week; Villas on the Prince #14 sold for $825K while listed for $869K. This unit started out at $1.05M in 10/06 and moved down to $869K in 2/08. It was purchased in 6/03 for $570K. Also closing is Nihilani #28A, which was purchased from the developer in 9/06 for $640,945 and closed at $599K, netting this seller a tax write off. This unit came on the market at $599K and stayed there. It had been previously listed for 286 days at $697K.
Under contract is Puamana 22C which came on the market at a well priced $419K and went into escrow within 37 days. This unit is a good example of the saying "timing is everything." It was previously listed for 145 days starting at $510K and moving all the way down to $410K before it was withdrawn in 10/07. I remember when this unit came back on the market at $419K, I made a comment that if you can't sell it at a lower price, try a higher price! In this case, it was the timing that was important as the unit quickly found a buyer. I'm looking forward to seeing the final sale price. Puamana 22C was purchased in 1/04 for $342,500.
Two units expired this week, Ka'eo Kai 9A, which started out at $629K and expired listed at $579K. The seller paid $429K for 9A in 8/05. Ali'i Kai 7202 is owned by a real estate agent, and came onto the market at $879K, having been purchased in 1/88 for $115K. The owners have tried to sell this unit throughout the years and had it listed for $172K for 1,033 days from 9/99 to 2/02 and again from 1/01 to 8/02 starting at $325K and working its way up to $372K. It was on the market 608 days back then and has been on the market for 728 days this time at $879K.
Price changes start out with Ali'i Kai #1102 which dropped from $639K to $539, with a purchase price of $100K in 11/87. Puamana # 9A sold for $634,500 in 12/05 and reduced this week a healthy $100K from $695K to $599K. Plantation at Princeville #711 went from $695K to $655K, and was purchased in 9/05 for $455,402. Villas of Kamali'i #29 sold for $750K in 6/05 and went from $925K to $899K this week. Another Villas of Kamali'i unit #9 reduced this week from $935K to $925K, having been purchased in 2/04 for $635K. And last but not least, we have Pu'u Po'a #411 which wins the prize for the "reduction of the week" going from $2.249M to $2.149M, with a purchase price in 6/97 for $320K.
Here is your Princeville house update for this week:
Copyright 4/19/2008 by Hawaii Information Service
NEW LISTINGS
210005 RS A 9 4-5-4-16-7 FS $1,295,000 5029 Emmalani Dr 10,500 sqft 3,304 4/3
170327 RS W 0 4-5-4-8-23 FS $995,000 5070 Kamamalu Loop 11,067 sqft 1,755 3/3.5
BACK ON THE MARKET
208005 RS A 47 4-5-4-13-54 FS $894,725 3646 Keoniana Rd 11,539 sqft 1,578 3/2
200621 RS A 241 4-5-4-21-7 FS $1,299,000 3770 Cr Kaweonui Rd/alber 10,737 sqft 2,184 3/2.5
CONTINGENT SALES
208288 RS C 49 4-5-4-18-59 FS $1,099,000 4185 Kinau Pl 10,445 sqft 2,070 3/3
EXPIRED
194132 RS X 130 4-5-4-8-22 FS $960,000 5066 Kauamalu Loop 11,580 sqft 1,674 3/2
WITHDRAWN
170327 RS W 0 4-5-4-8-23 FS $995,000 5070 Kamamalu Loop 11,067 sqft 1,755 3/3.5
200442 RS W 227 4-5-4-19-14 FS $1,795,000 5101 Kuhina Pl 20,646 sqft 3,276 4/3.5
PRICE CHANGES
197400 RS A 307 4-5-3-11-46 FS $1,994,000- 4140 Aloalii Dr 18,188 sqft 3,469 3/3
168524 RS A 873 4-5-4-22-4 FS $725,000- 4087 Nalani Ln 11,244 sqft 1,424 3/2
207210 RS A 69 4-5-4-16-87 FS $795,000- 4120 Nalani Ln 11,740 sqft 1,725 3/2
206177 RS A 91 4-5-4-9-55 FS $1,495,000- 5331 Honoiki Rd 10,689 sqft 2,554 3/3
209612 RS A 13 4-5-4-4-45-2 FS $6,995,000- 4901 Hanalei Plant Rd 24,799 sqft 2,482 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.
Let me know if you have any questions or need any help in analyzing the market. That's why I'm here. In the meantime, I hope your weather is as beautiful as ours. Enjoy your 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: http://www.kauairealestatenow.com/
......you can have your own piece of paradise
ask me how!
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