Buyers are always looking for good value and right now my finger is pointed in the direction of Nihilani. It appears that many owners went ito the project thinking they could sell for more once they took possession of their units. I say this because there are so many currently listed well below what the seller paid. Why would they be trying to sell them now, in this market, if money were not an issue? Clearly, there is more than one seller looking to get out from under a mortgage at any price which makes it an excellent place to look for that elusive "good buy."
For example, Nihilani 20A just came on the market at a respectable $699K. This unit was previously priced at $885K from 11/06 to 11/07 with no takers. Since coming off the market, several other 3 bedroom, 2.5 bath Makani style townhomes have come on the market priced much more aggresively. Recently, unit 5A, which had approximately $100K of upgrades (it is a beautiful unit!) came on the market at what was then the lowest price for a Makani unit at $699K.
Since 5A came on at that price, there's been several price reductions amoung the other Makani's on the market and several new listings that have come on which are priced just as aggressively. Here are the Makani (1874 sqft) and the Mahina (1972 sqft) units currently listed:
Copyright 7/24/2008 by Hawaii Information Service
188592 T A 596 4-5-4-5-24-63 FS $610,000 Nihilani At Princeville Resort #21C 1,972 #21C 2/3
201267 T A 311 4-5-4-5-24-87 FS $679,000 Nihilani At Princeville Resort #29C 1,874 #29C 3/2.5
213315 T A 20 4-5-4-5-24-37 FS $698,000 Nihilani At Princeville Resort #13A 1,874 #13A 3/2.5
212856 T A 28 4-5-4-5-24-42 FS $698,000 Nihilani At Princeville Resort #14C 1,874 #14C 3/2.5
212717 T A 36 4-5-4-5-24-13 FS $699,000 Nihilani At Princeville Resort #5A 1,874 #5A 3/2.5
213550 T A 1 4-5-4-5-24-58 FS $699,000 Nihilani At Princeville Resort #20A 1,874 #20A 3/2.5
210620 T A 80 4-5-4-5-24-97 FS $731,500 Nihilani At Princeville Resort #33A 1,874 #33A 3/2.5
210613 T A 80 4-5-4-5-24-100 FS $731,500 Nihilani At Princeville Resort #34A 1,874 #34A 3/2.5
210691 T A 141 4-5-4-5-24-44 FS $751,500 Nihilani At Princeville Resort #15B 1,874 #15B 3/2.5
200673 T A 327 4-5-4-5-24-21 FS $754,200 Nihilani At Princeville Resort #7C 1,972 #7C 3/3
210695 T A 79 4-5-4-5-24-24 FS $761,500 Nihilani At Princeville Resort #8C 1,874 #8C 3/2.5
210693 T A 79 4-5-4-5-24-28 FS $761,500 Nihilani At Princeville Resort #10A 1,874 #10A 3/2.5
210696 T A 79 4-5-4-5-24-32 FS $761,500 Nihilani At Princeville Resort #11B 1,874 #11B 3/2.5
200223 T A 335 4-5-4-5-24-40 FS $769,000 Nihilani At Princeville Resort #14A 1,874 #14A 3/2.5
210607 T A 74 4-5-4-5-24-6 FS $769,200 Nihilani At Princeville Resort #2C 1,972 #2C 3/3
210603 T A 74 4-5-4-5-24-102 FS $769,200 Nihilani At Princeville Resort #34C 1,972 #34C 3/3
210608 T A 135 4-5-4-5-24-99 FS $774,200 Nihilani At Princeville Resort #33C 1,972 #33C 3/3
209062 T A 121 4-5-4-5-24-51 FS $795,000 Nihilani At Princeville Resort #17C 1,874 #17C 3/2.5
210611 T A 87 4-5-4-5-24-33 FS $799,200 Nihilani At Princeville Resort #11C 1,972 #11C 3/3
194193 T A 470 4-5-4-5-24-39 FS $835,000 Nihilani At Princeville Resort #13C 1,874 #13C 3/2.5
213369 T A 18 4-5-4-5-24-94 FS $999,000 Nihilani At Princeville Resort #32A 1,874 #32A 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.
Take a close look at you'll see that the least expensive units is also the largest floor plan offered-the "Mahina" at 1972 sqft. The difference with this unit is that the seller did not take advantage of the developer's upgrade to convert an existing family room into a third bedroom and it only has two bedrooms as a result. Next we have five Makani units all under $700K.
If I was looking for a new unit to buy, this is where I'd be looking. As for the ones in the $700's, $800's and $900's, they'd have to show me something really special and unique about their unit and their location to get my dollar, but even then I think I'd go to where the pricing is more competative. I own in Nihilani, so if you want help with getting the best buy or pricing to sell, don't hesitate to call or email.
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!
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