Princeville condo (and house) update for the week of Sep 21st to Sep 27th

Aloha,

We are having our version of Indian summer - or maybe I should call it Polynesian summer because it has been another exquisite week. As I sit typing looking out onto the ocean, it is as smooth as glass and ever so inviting. I have work to do though (darn) - plus I had a great weekend playing tourist and did the "Kayak the Wailua River to Secret Falls tour" which I will tell you about in an email later this week. Great fun and highly recommended. On to your update:

Copyright 9/29/2008 by Hawaii Information Service

NEW LISTINGS
216338 T A 4 4-5-4-5-3-13 FS $385,000 Princeville Paniolo #113 1,058 #113 1/2
216359 T A 3 4-5-4-5-24-68 FS $667,500 Nihilani At Princeville Resort #23B 1,406 #23B 2/2
214678 T A 5 4-5-4-12-5-31 FS $1,195,000 Pali Ke Kua Incr I, ii, iii #213B 904 #213B 2/2
216008 T A 3 4-5-4-12-11-47 FS $1,590,000 Puu Poa #405 1,800 #405 2/2

BACK ON THE MARKET
211294 T A 131 4-5-4-5-18-34 FS $475,000 Puamana #9C 1,532 #9C 2/2

WITHDRAWN
197799 T W 453 4-5-3-11-1-10 FS $985,000 Villas On The Prince #10 1,732 #10 3/3
195595 T W 472 4-5-4-5-27-8 FS $399,000 Hale Honu #4B 866 #4B 2/1
213365 T W 81 4-5-4-5-24-80 FS $539,900 Nihilani At Princeville Resort #27B 1,567 #27B 3/2.5
211664 T W 125 4-5-4-12-9-24 FS $895,000 Pali Ke Kua Iii #234 1,135 #234 2/2
208063 T W 237 4-5-4-12-5-11 FS $1,100,000 Pali Ke Kua Incr I, ii, iii #111A 717 #111A 1/1

PRICE CHANGES
191060 T A 594 4-5-4-5-13-4 FS $400,000- Kamahana #4 1,145 #4 2/2
211294 T A 131 4-5-4-5-18-34 FS $475,000- Puamana #9C 1,532 #9C 2/2
207326 T A 228 4-5-4-5-24-62 FS $560,000- Nihilani At Princeville Resort #21B 1,400 #21B 2/2
214167 T A 61 4-5-4-12-8-24 LH $575,000+ Pali Ke Kua Ii #130 1,100 #130 2/2
201267 T A 378 4-5-4-5-24-87 FS $649,000- Nihilani At Princeville Resort #29C 1,874 #29C 3/2.5
210501 T A 117 4-5-4-5-7-34 FS $749,000- Princeville Sealodge #D5 570 #D5 1/1
197799 T W 453 4-5-3-11-1-10 FS $985,000- Villas On The Prince #10 1,732 #10 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.

Surprisingly, all our new listings this past week are really new listings! Paniolo 113 which sold for $115K in 6/00 hits the market at $385K. Nihilani 23B joins an overcrowded field of units for sale in that complex at $667,500 for the 2 bedroom Moana unit, having been purchased for $685,160 in 11/06. Pali Ke Kua 213B may have spectacular Hanalei Bay / Bali Hai views, and it is a 2 bedroom but it doesn't come cheap at $1.195M. This unit last sold in 9/83 as leasehold for $35,700 and was converted to fee simple in 10/99 for $77,500. Rounding out the field is a very well priced top floor Pu'u Po'a unit 404 which is listed for $1.590M. Purchased in 1/00 for $430K this unit has been nicely upgraded with a remodeled kitchen, an upgraded master bath along with wood floors throughout, granite countertops and stainless steel appliances. I haven't seen it yet but it shows very well in the photos.

These are all the Pu'u Po'as currently on the market. Please note that square footage can vary dramatically depending on if the lanai was enclosed or not:

Copyright 9/29/2008 by Hawaii Information Service

214847 T A 48 4-5-4-12-11-3 FS $1,399,999 Island of Kauai, Hanalei District, Puu Poa 1,800 #103 2/2
213637 T A 69 4-5-4-12-11-46 FS $1,475,000 Puu Poa #404 1,352 #404 2/2
200456 T A 390 4-5-4-12-11-14 FS $1,550,000 Puu Poa #114 2,065 #114 2/2
216008 T A 3 4-5-4-12-11-47 FS $1,590,000 Puu Poa #405 1,800 #405 2/2
212665 T A 103 4-5-4-12-11-2 FS $1,595,000 Puu Poa #102 1,352 #102 2/2
208628 T A 200 4-5-4-12-11-55 FS $1,595,000 Puu Poa #413 1,777 #413 2/2
202256 T A 324 4-5-4-12-11-7 FS $1,699,000 Puu Poa #107 2,065 #107 2/2
213416 T A 75 4-5-4-12-11-20 FS $1,875,000 Puu Poa #206 1,359 #206 2/2
205418 T A 269 4-5-4-12-11-37 FS $2,245,000 Puu Poa #309 1,352 #309 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.

Puamana 9C is back on the market at $475K after expiring while listed at $487,950. (You'll see this one under price changes also.) It was previously listed from 7/06 to 1/08 during which time it went from $539,900 to $497,500 before being withdrawn.

As you can see, there were no units that went into escrow, expired or that closed this past week. Several were (thankfully) withdrawn. I'm not implying anything wrong with any of these particular units but rather that our inventory is so oversaturated I'm always happy to see sellers take their properties off the market until such time that the market can support their desired price. This week Villas on the Prince #10, purchased in 2/02 for $474,320 is withdrawn; along with Hale Honu 4B, purchased in 3/06 for $430K, Nihilani 27B, purchased in 10/06 for $628,180, Pali Ke Kua 234, purchased as a leasehold in 11/95 for $160K with the fee later purchased for $43,800 in 99 along with Pali Ke Kua 111A which last sold for $950K in 10/05. I don't know whatever happened to this Pali Ke Kua as it has shown as being in escrow since it was released on the MLS in 3/08!

Price changes are all down except for one optimistic up tick. Starting with Kamahana 4, this unit is down from $450K to $400K, with a purchase price of $499K in 9/05. Ouch! Puamana 9C is discussed under BOM. Nihilani 21B went from $579K to $560K and sadly, has a purchase price of $656,650 in 10/06. Pali Ke Kua 130, a leasehold unit, is our one price increase, going from $555K to $575K. I'm sure this was precipitated by the sale of another LH unit Pali Ke Kua 210 that sold in 9/11/08 for $585K. This unit last sold in 3/06 for $429K.

Another Nihilani reduced, unit 29C, from $679K to $649K with a purchase price of $747,320 in 7/06. Sealodge D5, purchased in 12/04 for $525K is reduced from $775K to $749. Rounding out the reductions is Villas on the Prince #10 which went from $999K to $985K on 9/23 then was withdrawn from the market on 9/24. This unit last sold for $474,320 in 2/02.

Moving right along, below is your Princeville home update for the week. You'll see even less is happening here!

Copyright 9/29/2008 by Hawaii Information Service

BACK ON THE MARKET
198759 RS A 437 4-5-4-15-16 FS $769,900 3834 Haulani Pl 11,020 sqft 2,048 3/3
188351 RS A 609 4-5-4-17-2 FS $899,000 4959 Emmalani Dr 10,875 sqft 2,682 4/4.5

WITHDRAWN
213293 RS W 77 4-5-4-21-27 FS $985,000 4871 Akai Pl 11,486 sqft 1,772 3/2
205291 RS W 268 4-5-4-20-11 FS $1,395,000 3975 Kalakaua Pl 18,604 sqft 2,450 3/3
208903 RS W 185 4-5-4-9-49 FS $2,995,000 5289 Pokii Ln 20,868 sqft 3,510 4/4

PRICE CHANGES
206101 RS A 248 4-5-4-15-15 FS $895,000+ 3838 Haulani Pl 14,510 sqft 2,262 4/3
188351 RS A 609 4-5-4-17-2 FS $899,000- 4959 Emmalani Dr 10,875 sqft 2,682 4/4.5
209942 RS A 172 4-5-4-8-9 FS $1,350,000- 3887 Punahele Rd 11,139 sqft 3,246 4/3

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

Everyone keeps asking if the market is still soft, if lenders are still lending and when is the best time to buy. I know everyone wants to wait until the market turns before they make a move, but remember, once the market turns, you and a zillion others who have been waiting to "jump back in" will all be doing the same thing - so my advice it to buy now when you can pick and choose and while desperate and perhaps not so desperate sellers can be pushed into negotiating on their price. Buy now when you can get your pick of several units within your complex of choice. And yes, lenders are still very much in the lending business and will do whatever they can to help qualified (yes, that means you can actually pay the loan back) buyers get into the property of their dreams. That's my advice (again) this week and it will most likely be the same in the weeks to come.

Don't forget to call or email before buying or selling.

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
blog: www.blogs.alohaliving.com/princeville-condo-sales

......you can have your own piece of paradise
ask me how!

Princeville condo (and house) update for the week of Sep 21st to Sep 27th

Aloha,

We are having our version of Indian summer - or maybe I should call it Polynesian summer because it has been another exquisite week. As I sit typing looking out onto the ocean, it is as smooth as glass and ever so inviting. I have work to do though (darn) - plus I had a great weekend playing tourist and did the "Kayak the Wailua River to Secret Falls tour" which I will tell you about in an email later this week. Great fun and highly recommended. On to your update:

Copyright 9/29/2008 by Hawaii Information Service

NEW LISTINGS
216338 T A 4 4-5-4-5-3-13 FS $385,000 Princeville Paniolo #113 1,058 #113 1/2
216359 T A 3 4-5-4-5-24-68 FS $667,500 Nihilani At Princeville Resort #23B 1,406 #23B 2/2
214678 T A 5 4-5-4-12-5-31 FS $1,195,000 Pali Ke Kua Incr I, ii, iii #213B 904 #213B 2/2
216008 T A 3 4-5-4-12-11-47 FS $1,590,000 Puu Poa #405 1,800 #405 2/2

BACK ON THE MARKET
211294 T A 131 4-5-4-5-18-34 FS $475,000 Puamana #9C 1,532 #9C 2/2

WITHDRAWN
197799 T W 453 4-5-3-11-1-10 FS $985,000 Villas On The Prince #10 1,732 #10 3/3
195595 T W 472 4-5-4-5-27-8 FS $399,000 Hale Honu #4B 866 #4B 2/1
213365 T W 81 4-5-4-5-24-80 FS $539,900 Nihilani At Princeville Resort #27B 1,567 #27B 3/2.5
211664 T W 125 4-5-4-12-9-24 FS $895,000 Pali Ke Kua Iii #234 1,135 #234 2/2
208063 T W 237 4-5-4-12-5-11 FS $1,100,000 Pali Ke Kua Incr I, ii, iii #111A 717 #111A 1/1

PRICE CHANGES
191060 T A 594 4-5-4-5-13-4 FS $400,000- Kamahana #4 1,145 #4 2/2
211294 T A 131 4-5-4-5-18-34 FS $475,000- Puamana #9C 1,532 #9C 2/2
207326 T A 228 4-5-4-5-24-62 FS $560,000- Nihilani At Princeville Resort #21B 1,400 #21B 2/2
214167 T A 61 4-5-4-12-8-24 LH $575,000+ Pali Ke Kua Ii #130 1,100 #130 2/2
201267 T A 378 4-5-4-5-24-87 FS $649,000- Nihilani At Princeville Resort #29C 1,874 #29C 3/2.5
210501 T A 117 4-5-4-5-7-34 FS $749,000- Princeville Sealodge #D5 570 #D5 1/1
197799 T W 453 4-5-3-11-1-10 FS $985,000- Villas On The Prince #10 1,732 #10 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.

Surprisingly, all our new listings this past week are really new listings! Paniolo 113 which sold for $115K in 6/00 hits the market at $385K. Nihilani 23B joins an overcrowded field of units for sale in that complex at $667,500 for the 2 bedroom Moana unit, having been purchased for $685,160 in 11/06. Pali Ke Kua 213B may have spectacular Hanalei Bay / Bali Hai views, and it is a 2 bedroom but it doesn't come cheap at $1.195M. This unit last sold in 9/83 as leasehold for $35,700 and was converted to fee simple in 10/99 for $77,500. Rounding out the field is a very well priced top floor Pu'u Po'a unit 404 which is listed for $1.590M. Purchased in 1/00 for $430K this unit has been nicely upgraded with a remodeled kitchen, an upgraded master bath along with wood floors throughout, granite countertops and stainless steel appliances. I haven't seen it yet but it shows very well in the photos.

These are all the Pu'u Po'as currently on the market. Please note that square footage can vary dramatically depending on if the lanai was enclosed or not:

Copyright 9/29/2008 by Hawaii Information Service

214847 T A 48 4-5-4-12-11-3 FS $1,399,999 Island of Kauai, Hanalei District, Puu Poa 1,800 #103 2/2
213637 T A 69 4-5-4-12-11-46 FS $1,475,000 Puu Poa #404 1,352 #404 2/2
200456 T A 390 4-5-4-12-11-14 FS $1,550,000 Puu Poa #114 2,065 #114 2/2
216008 T A 3 4-5-4-12-11-47 FS $1,590,000 Puu Poa #405 1,800 #405 2/2
212665 T A 103 4-5-4-12-11-2 FS $1,595,000 Puu Poa #102 1,352 #102 2/2
208628 T A 200 4-5-4-12-11-55 FS $1,595,000 Puu Poa #413 1,777 #413 2/2
202256 T A 324 4-5-4-12-11-7 FS $1,699,000 Puu Poa #107 2,065 #107 2/2
213416 T A 75 4-5-4-12-11-20 FS $1,875,000 Puu Poa #206 1,359 #206 2/2
205418 T A 269 4-5-4-12-11-37 FS $2,245,000 Puu Poa #309 1,352 #309 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.

Puamana 9C is back on the market at $475K after expiring while listed at $487,950. (You'll see this one under price changes also.) It was previously listed from 7/06 to 1/08 during which time it went from $539,900 to $497,500 before being withdrawn.

As you can see, there were no units that went into escrow, expired or that closed this past week. Several were (thankfully) withdrawn. I'm not implying anything wrong with any of these particular units but rather that our inventory is so oversaturated I'm always happy to see sellers take their properties off the market until such time that the market can support their desired price. This week Villas on the Prince #10, purchased in 2/02 for $474,320 is withdrawn; along with Hale Honu 4B, purchased in 3/06 for $430K, Nihilani 27B, purchased in 10/06 for $628,180, Pali Ke Kua 234, purchased as a leasehold in 11/95 for $160K with the fee later purchased for $43,800 in 99 along with Pali Ke Kua 111A which last sold for $950K in 10/05. I don't know whatever happened to this Pali Ke Kua as it has shown as being in escrow since it was released on the MLS in 3/08!

Price changes are all down except for one optimistic up tick. Starting with Kamahana 4, this unit is down from $450K to $400K, with a purchase price of $499K in 9/05. Ouch! Puamana 9C is discussed under BOM. Nihilani 21B went from $579K to $560K and sadly, has a purchase price of $656,650 in 10/06. Pali Ke Kua 130, a leasehold unit, is our one price increase, going from $555K to $575K. I'm sure this was precipitated by the sale of another LH unit Pali Ke Kua 210 that sold in 9/11/08 for $585K. This unit last sold in 3/06 for $429K.

Another Nihilani reduced, unit 29C, from $679K to $649K with a purchase price of $747,320 in 7/06. Sealodge D5, purchased in 12/04 for $525K is reduced from $775K to $749. Rounding out the reductions is Villas on the Prince #10 which went from $999K to $985K on 9/23 then was withdrawn from the market on 9/24. This unit last sold for $474,320 in 2/02.

Moving right along, below is your Princeville home update for the week. You'll see even less is happening here!

Copyright 9/29/2008 by Hawaii Information Service

BACK ON THE MARKET
198759 RS A 437 4-5-4-15-16 FS $769,900 3834 Haulani Pl 11,020 sqft 2,048 3/3
188351 RS A 609 4-5-4-17-2 FS $899,000 4959 Emmalani Dr 10,875 sqft 2,682 4/4.5

WITHDRAWN
213293 RS W 77 4-5-4-21-27 FS $985,000 4871 Akai Pl 11,486 sqft 1,772 3/2
205291 RS W 268 4-5-4-20-11 FS $1,395,000 3975 Kalakaua Pl 18,604 sqft 2,450 3/3
208903 RS W 185 4-5-4-9-49 FS $2,995,000 5289 Pokii Ln 20,868 sqft 3,510 4/4

PRICE CHANGES
206101 RS A 248 4-5-4-15-15 FS $895,000+ 3838 Haulani Pl 14,510 sqft 2,262 4/3
188351 RS A 609 4-5-4-17-2 FS $899,000- 4959 Emmalani Dr 10,875 sqft 2,682 4/4.5
209942 RS A 172 4-5-4-8-9 FS $1,350,000- 3887 Punahele Rd 11,139 sqft 3,246 4/3

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

Everyone keeps asking if the market is still soft, if lenders are still lending and when is the best time to buy. I know everyone wants to wait until the market turns before they make a move, but remember, once the market turns, you and a zillion others who have been waiting to "jump back in" will all be doing the same thing - so my advice it to buy now when you can pick and choose and while desperate and perhaps not so desperate sellers can be pushed into negotiating on their price. Buy now when you can get your pick of several units within your complex of choice. And yes, lenders are still very much in the lending business and will do whatever they can to help qualified (yes, that means you can actually pay the loan back) buyers get into the property of their dreams. That's my advice (again) this week and it will most likely be the same in the weeks to come.

Don't forget to call or email before buying or selling.

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!