kauai condos: Princeville Condos - List vrs. Sales price
- 02/22/08 12:40 PM
I alway wonder when sellers raise their price or come back on the market at a higher price when they can't sell their property. The logic there simply escapes me, unless perhaps the seller feels the market is moving upward and it's time to move up with it. If this is the case, I must say, the upward surge has escaped me. What I think, simply stated, is this: there is simply too much inventory on the market which, along with all the mainland bad press, is keeping pricing down and buyers away. After all, why hurry over to buy something … (0 comments)
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kauai condos: Princeville condo (and house) update for the week of Feb 10th to Feb 16th
- 02/19/08 04:59 AM
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 … (0 comments)
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kauai condos: An explanation of Condo Maintenance Fees
- 02/12/08 05:38 PM
One of the first things I discuss with condo buyers are the maintenance fees, also referred to as HOA fees (Home Owners Association) or AOAO fees. (Association of Apartment Owners) All of these terms refer to a monthly fee charged to each condo owner for the management, insurance, upkeep, maintenance and future repairs (reserve funds) needed for the given complex. Typically, maintenance fees cover the following:
Administrative-GeneralProperty ManagementProfessional Fees- LegalAccounting Fees AuditCommon Area ElectricityWater & SewerCommunity Association Dues SuppliesPool ServiceRefuse Removal-GeneralRepairs/Maintenance-BuildingRepairs/Maintenance-PlumbingRepairs/Maintenance-GroundsRepairs/Maintenance-PoolPest Control Taxes-General Excise Real Property Tax on Grounds (Land) Real Property Tax on "Structure"Insurance-Package Fire, Hurricane, Liability
A few also cover electricity within … (8 comments)
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kauai condos: Property Inspections : Scope of the inspection
- 02/12/08 05:33 PM
I recently had a client point out to me during our final walk-through that the shut-off valves for the bathroom sink were frozen. The client was concerned since he'd had a property inspection and wondered why the inspector did not "catch this problem." The answer, while simple is often misunderstood or overlooked, and that is, the Inspector DOES NOT INSPECT EVERYTHING and is not required to inspect everything per the Standards of Practice of their professional organization. The primary exclusions are often briefly summarized within the inspection report itself.
Unfortunately, most clients see only the details of the inspection itself and fail … (0 comments)
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kauai condos: The first resale Ka'iulani goes into escrow.....
- 02/12/08 05:21 PM
The news today is that what I believe to be the firse resale Ka'iulani went into escrow after 307 days on the market. This unit is priced at $1,685,000; down considerably from the original $2,150,000 it was listed for in 4/07. Unfortunately, this unit was purchased for $1,861,490 in 3/07, which will probably net the seller a nice tax deduction for 08.
These are all the Ka'iulanis currently listed and in escrow/under contract:
Copyright 2/12/2008 by Hawaii Information ServiceListed207166 T A 5 4-5-3-6-22-59 FS $995,000 Kaiulani Of Princeville #59 1,892 #59 2/2.5206788 T A 5 4-5-3-6-22-70 FS $995,000 Kaiulani Of Princeville #70 … (0 comments)
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kauai condos: Princeville Condo (and house) Update for Feb 3 to Feb 9
- 02/11/08 02:38 PM
Aloha from Sunny Kauai! We finally have a perfect day with everything you'd expect from a tropical paradise. Sun, blue sky, fluffy white clouds and of course, the tradewinds. I live in a complex (Cliffs) that not only has whole ownership but also timeshare, and I often feel sorry for the visitors that get here just in time for a week of rain. Sometime I think it bothers me more than it bothers them, as they simply put on their rain slickers and go about their daily walk or on shopping jaunts. I'm sure what I fail to consider is that … (0 comments)
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kauai condos: What is a taxkey number?
- 02/07/08 01:46 AM
You've seen them on the Multiple Listing Service- a 5 or 6 digit number separated by dashes. Have you ever wondered what that number is? Every piece of property in the entire State is identiifed by a unique number known as the taxkey number. If you know what area the numbers represent, you can readily identify the general location of any property at a glance.
The first number identifies the Island: Oahu is alway 1, Maui 2, Hawaii (the Big Island) 3 and Kauai is 4. Since I am on Kauai, I'll go through and explain our taxkey number. After the first … (0 comments)
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kauai condos: What about sellers in today's market?
- 02/07/08 01:44 AM
One client asked me how to make sense of what is going on in the market and I have to admit, it's not easy. Not only do you have the external factors impacting the market (i.e. the negative news, continuing problems with the sub prime loan market, overdevelopment in certain areas of the mainland along with the simple fact that here on Kauai, we simply have too much inventory) but within that there is quite a bit of disparity in the listing prices that are often hard to explain until you start looking at the seller's history.
Basically, I see four … (1 comments)
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kauai condos: Why even buyers don't like a buyer's market!
- 02/07/08 01:40 AM
I've talked about seller's in today's buyer's market. Now I'd like to turn the focus onto the buyers.
Every single buyer out there right now is a bargain hunter, as they should be in this buyers market but it's a very hard time for sellers. I was reflecting on the seller's market of the last few years and found that it was much less painful for both parties involved. Certainly, sellers were thrilled to sell their properties at all time highs but the buyers also seemed excited to score one of the "high demand" properties for their own. I'm sure paying the price … (0 comments)
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kauai condos: January Princeville Condo / House Perfomance
- 02/05/08 08:13 PM
January Princeville condo / house market performance
Everyone is always asking how the market is here. I am very visual and think one picture is worth 1000 words so I am showing you what went on for the last month with Princeville Real Estate. These are all the new listings, properties back on the market, those that went into escrow (contingent and under contract) as well as withdrawn units, sales and price changes. Basically, this is your snapshot of how Princeville condos performed for the month of January...Take a look and tell me what YOU think the market is doing.
Copyright 2/5/2008 by … (0 comments)
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kauai condos: Agent Responsibilities
- 02/04/08 04:28 AM
Most people, when buying real estate, have an "agent." Few however, seem to know the duties owed to them by their agent, nor do they recognize the value of having their own agent as opposed to "dual agency." Agent is defined as "A party who is authorized to act in the best interests of another (called the principal) and is obligated to place the principal's interests before the interests of any other parties, including the agent's own interest-regardless of whether the agency relationship is with the seller of the property or the buyer."
I've seen several sales where the agent is … (0 comments)
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kauai condos: Princeville Condo and House Update for January 27 to Feb 2
- 02/04/08 04:23 AM
Aloha,
One of my fellow agents told me that I was less likely to get a real estate call on Super Bowl Sunday than on any other day of the year. In other words, she was letting me know that I'd have plenty of uninterrupted work time today. Who am I kidding- I got hooked watching the last half of the Super Bowl myself! The other highlight of the day was the lightening and thunder show Mother Nature put on for all of us. While rain is a normal part of North Shore living, lightening and thunder are a rarity.
As for … (0 comments)
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kauai condos: Vacation Rental Ordinance on the way to becoming law...
- 02/03/08 01:28 PM
Although there's always an assortment of Kauai happennings, I am going to focus on what I consider the be the biggest news to come down the pike in a LONG LONG time-and that is, the County Council has FINALLY passed a vacation rental bill! This issue, (like many others on the Island) has been around for almost as long as I can remember, and I've been here since 1991!
This issue first sparked controversy back in 2000 when the County was working on the General Plan which is the roadmap for Kauai's future. At that time, they recognized the need to … (0 comments)
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kauai condos: Conveyance tax facts you need to know
- 02/01/08 07:30 AM
As of July 1, 2005 there was a change in the amount of conveyance tax that sellers pay when transferring property. A conveyance tax, much like the name implies, is a tax paid to the state of Hawaii "for all transfers or conveyance of realty or any interest therein..." (Section 247.2 HRS) Prior to July 1, 2005, the tax paid was a flat .10 per $100 of value. For example, if you sold property for $400,000 your conveyance tax was $400; for a $1,250,000 sale the tax was $1,250 regardless if it was a single family residence, condo or land.
Now if … (2 comments)
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kauai condos: My best advice for sellers in a buyer's market
- 01/31/08 06:43 AM
In this buyer's market where offers are few and far between compared to a couple of year back, and those that are forthcoming are often falling short of seller's expectations, it is the wise seller who can see beyong the perceived insult of a low offer and respond in a postive manner. Unfortunately, often sellers react very negatively and turn down the offer out of hand which I feel is a mistake as you do not know when your next opportunity to sell will appear.
When presenting a less than desirable offer to my sellers, as they express outrage and suprise … (0 comments)
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kauai condos: Kai'ulani snapshot for Jan 30-31
- 01/31/08 06:13 AM
Kai'ulani is the newest condo complex in Princeville and is undoubtedly the most luxurious and beautiful, with pricing to match. It is located at the end of Queen Emmas Bluffs Road, on a parcel which sits just beyond the Villas on the Prince. While looking at the MLS daily updates for the last two days, Kai'ulani caught my eye, in part because I had a call from someone currently in escrow on one of the units, wondering about the feasibility of putting it on the market once escrow closes. I didn't think it was a good idea then and I still … (0 comments)
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kauai condos: Princeville Condo (and house) Update for January 20 to 26
- 01/27/08 03:03 PM
Aloha,
Last week was pretty slow for condo. Take a look at last weeks activity and you'll see what I mean:
Copyright 1/27/2008 by Hawaii Information Service
NEW LISTINGS
206307 T A 4 4-5-3-11-1-18 FS $999,000 Villas On The Prince #18 1,800 #18 3/3206549 T A 2 4-5-3-6-22-3 FS $1,900,000 Kaiulani Of Princeville #3 2,843 #3 3/3.5206596 T A 1 4-5-4-5-24-82 FS $599,000 Nihilani At Princeville Resort #28A 1,406 #28A 2/2
BACK ON THE MARKET
171233 T A 744 4-5-4-11-3-84 FS $488,000 Hanalei Bay Resort #N22 867 #1513 1/2
PRICE CHANGES
194231 T A 291 4-5-3-6-22-43 FS $1,685,000- Kaiulani Of Princeville #43 2,443 … (0 comments)
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kauai condos: Hanalei Valley Hike
- 01/23/08 02:58 PM
I've been on the Hanalei Okolehau Trail before but its been so long I'd forgotten how beautiful it is. I also was not aware of how far the trail actually goes. The trailhead is accessed by driving up the Hanalei Valley road (Ohiki Road) located at the one lane bridge as you drive down from Princeville towards Hanalei. When you get to the one lane bridge, you'll see the Hanalei Valley Road off to the left. Turn onto the road which heads back into the valley. Please go slowly as the road is narrow and borders the Hanalei National Wildlife Refuge … (0 comments)
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kauai condos: Market Activity for Monday, January 21st.
- 01/21/08 06:12 PM
Aloha,
Each day as I scan through the daily update, I look to see what has gone into escrow and how many new properties came on the market. Most of the time, there's plenty of new listings but little in the way of properties that received accepted offers. I'm happy to report that today, Monday, things are looking up. Yes, there are still numerous new listings, and a very healthy amount of price changes, all reductions except for one - but today, for a change, there are actually 7 listings that went into escrow. Take a look at how things stacked up … (0 comments)
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kauai condos: Princeville Condos vs. Homes - 2007 snapshot
- 01/21/08 04:12 AM
Aloha,
I'm always talking about condos - If you've been wondering what Princeville homes have been doing, the answer is not too much. Right now there are 59 properties on the market, with only 5 in escrow. Here are the available properties:
Copyright 1/21/2008 by Hawaii Information Service
204102 RS A 56 4-5-3-12-42 FS $1,195,000 4046 Aloalii Dr 8,041 sqft 1,603 2/2.5203978 RS A 61 4-5-3-11-41 FS $1,700,000 4120 Aloalii Dr 9,103 sqft 2,521 3/3.5203558 RS A 49 4-5-3-11-43 FS $1,725,000 4128 Aloalii Dr 10,616 sqft 3,054 3/3.5200239 RS A 49 4-5-3-12-12 FS $1,795,000 3985 Aloalii Dr 8,554 sqft 3,340 2/3195550 RS A … (0 comments)
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