Special offer

Princeville condo (and house) update for the week of June 14th through 20th

By
Real Estate Broker/Owner with Sold on Kauai Realty RB-18142

Aloha,

Happy Father's Day to all of you dads out there. Hope you are enjoying your day! I spent part of the week over in Oahu enjoying the "Big City" and all it's shopping, restaurants and movies. I never rent a car but instead enjoy walking from one end of Waikiki to the theatres at the Ward Center. Makes for a nice relaxing time away. Now on to your update:

Copyright 6/21/2009 by Hawaii Information Service

NEW LISTINGS
224707 T A 6 4-5-4-12-2-16 FS $369,000 Hale Moi #116 1,033 #116 1/2
225090 T A 3 4-5-4-5-18-50 FS $390,000 Puamana #14B 1,532 #14B 2/2
225032 T A 5 4-5-4-5-30-19 FS $399,000 Princeville Mauna Kai #D301 1,488 #26 3/2
224986 T A 5 4-5-4-5-39-72 FS $439,000 Cliffs At Princeville #3204 917 #3204 1/2
204435 T S -36 4-5-4-12-10-41 FS $519,000 Emmalani Court #524 1,192 #524 2/2
SOLD 6/19/2009 for $380,000 (CASH) DOM -36

BACK ON THE MARKET
210902 T A 368 4-5-4-5-39-4 FS $275,000 Cliffs At Princeville #1104 917 #1104 1/2

CONTINGENT SALES
223314 T C 64 4-5-4-6-1-44 FS $678,999 Villas Of Kamalii #44 1,825 #44 3/3
SALES
220884 T S 68 4-5-3-11-1-27 FS $750,000 Villas On The Prince #27 1,732 #27 3/3
SOLD 6/16/2009 for $700,000 (CASH) DOM 68

222629 T S 24 4-5-4-12-10-22 FS $425,000 Emmalani Court #325 1,456 #325 2/2
SOLD 6/17/2009 for $390,000 (CNV) DOM 24

204435 T S -36 4-5-4-12-10-41 FS $519,000 Emmalani Court #524 1,192 #524 2/2
SOLD 6/19/2009 for $380,000 (CASH) DOM -36

UNDER CONTRACT
210999 T U 355 4-5-4-12-10-42 FS $499,000 Emmalani Court #525 1,456 #525 2/2

EXPIRED
209061 T X 429 4-5-4-12-2-6 FS $450,000 Hale Moi #106 1,033 #106 2/2
188728 T X 861 4-5-4-5-39-55 FS $569,000 Cliffs At Princeville #2305 1,137 #2305 2/2

PRICE CHANGES
210902 T A 368 4-5-4-5-39-4 FS $275,000- Cliffs At Princeville #1104 917 #1104 1/2
221360 T A 115 4-5-4-12-2-36 FS $345,000- Hale Moi #216 1,033 #216 2/2
186493 T A 968 4-5-4-5-17-55 FS $399,000- Alii Kai Ii Hanalei #14G 1,037 #14G 2/2
222635 T A 44 4-5-4-5-12-19 FS $399,999+ Sealodge Ii #H1 556 #H1 1/1
219219 T A 221 4-5-4-5-30-20 FS $494,500- Princeville Mauna Kai #D302 1,488 ##25 3/2
218310 T A 153 4-5-4-12-5-9 FS $812,000- Pali Ke Kua Incr I, ii, iii #109A 717 #109A 1/1
223314 T C 64 4-5-4-6-1-44 FS $678,999- Villas Of Kamalii #44 1,825 #44 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.

It's good to see some activity this past week with as many condos going into escrow and/or selling as there were new ones on the market. Usually it's a pretty lopsided effort with new condos coming on the market every week and very few sales to offset the growning inventory. Having said that, of the 5 new listings this week, all but one are either a short sale or foreclosure. Hale Moi 116, listed for $369K and purchased for $459K in 10/04 is a short sale. This unit was previously listed from 2/06 to 6/06, with a list price of $649K which reduced to $627K before it came off the market. It was listed a second time from 3/07 to 3/08, starting at $599K and reducing to $525K and again from 4/08 to 4/09 with a price of $499,500 which reduced to $419K before it was withdrawn. Hopefully it can sell prior to a foreclosure. Puamana 14B is a bank foreclosure listed at $390K. This unit sold for $625K in 3/06. Mauna Kai 26, purchased for $535K in 10/06 is back on the market as a short sale for $399K. This unit was previously listed from 4/08 to 4/09 starting at $619K and reducing to $525K when it came off the market.

Cliffs 3204 has the distinction of being the only new listing this week that is not in some type of financial distress. Listed at $439K and purchased for $380K in 1/08, this seller is fightng an uphill battle to capture a gain on the unit especially when competing with units priced at $260K and $2745K. Here are all the Cliffs unit currently on the market:

Copyright 6/21/2009 by Hawaii Information Service

204804 T A 374 4-5-4-5-39-33 FS $260,000 Cliffs At Princeville #2103 917 #2103 1/2
210902 T A 368 4-5-4-5-39-4 FS $275,000 Cliffs At Princeville #1104 917 #1104 1/2
207634 T A 486 4-5-4-5-39-16 FS $275,000 Cliffs At Princeville #1206 917 #1206 1/2
222233 T A 16 4-5-4-5-39-45 FS $275,000 Cliffs At Princeville #2205 917 #2205 1/2
224986 T A 5 4-5-4-5-39-72 FS $439,000 Cliffs At Princeville #3204 917 #3204 1/2
220368 T A 144 4-5-4-5-39-42 FS $495,000 Cliffs At Princeville #2202 917 #2202 1/2
208369 T A 472 4-5-4-5-39-127 FS $525,000 Cliffs At Princeville #5205 917 #5205 1/2
222323 T A 90 4-5-4-5-39-191 FS $685,000 Cliffs At Princeville #9201 963 #9201 1/2
224581 T A 10 4-5-4-5-39-186 LH $699,000 Cliffs At Princeville #8306 1,186 #8306 1/2
222351 T A 88 4-5-4-5-39-138 FS $750,000 Cliffs At Princeville #5308 1,186 #5308 2/2
183879 T A 1,025 4-5-4-5-39-163 FS $799,000 Cliffs At Princeville #7205 917 #7205 1/2
213606 T A 341 4-5-4-5-39-198 FS $875,000 Cliffs At Princeville #9302 1,231 #9-302 2/2
224660 T A 375 4-5-4-5-39-175 FS $995,000 Cliffs At Princeville #8201 963 #8201 1/2

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

Emmalani Court 524 was purchased for $700K in 7/07, listed for $519K as a short sale and closed for $380K. I don't know why this unit is showing up as a new listing with -36 days on the market. It actually came on the market back in 12/07 at $789K and just kept reducing over the years until it became a short sale with a sale price of $380K. You'll also see this unit listed under the sales portion of this report.

Cliffs 1104, purchased for $135K in 3/01 is back on the market after expiring while listed at $489K. It is now listed at $275K and will be seen again under the price changes portion of this report.

Villas of Kamalii 44 finally went into escrow as a foreclosure listed at $678,999. The price changed this week from $679K to $678,999 and is also under the price changes. This unit was listed at least 4 or 5 time before at an effort to sell but was always in the $800K to $900K price range. It sold for $739K in 5/05 and was taken by the bank in 6/09.

Several units closed this week, starting with Villas on the Prince 27 which was purchased for $525K in 12/03, was listed for $750K and sold for $700K. Yippee, someone sold for more than they paid! Emmalani Court 325 closed for $390K yielding it's seller no profit as it was purchased in 4/93 for $387K. The last sale is Emmalani Court 524 which was discussed under new listings.

It's obviously a good week for Emmalani Court - Unit 525 moved from contingent to under contract status which means all contingencies have been removed and it is set to close. We should see this unit, which was purchased for $400K in 1/03 closing within the next week or two.

Hale Moi 106, listed at $450K and purchased for $485K in 10/05 expired after 429 market days. It started out at $524K but was apparently always a step or two behind the market. Cliffs 2305, which last sold for $680K in 6/06 expired while listed at $569K after 861 days on the market. This unit started at $689,500 but never reduced enough over the years to be competative.

As for price changes, first up is Cliffs 1104 which was discussed under the Back on the Market portion of this update. Hale Moi 216, purchased for $460K in 3/05 reduced from $395K to $345K. Depsite the original purchase price, this is not a short sale or a bank REO and it presents a great opportunity to purchase a completely update condo without all the short sale hassle. Ali'i Kai 14G, purchased for $583K in 8/05 reduced from $449K to $399K. Sealodge H1 made a price adjustment possibly to reflect a more desirable number, going from $399K to $399,999. Maybe all those "9's" in the list price will bring in a buyer. This unit sold for $560K in 8/05. Mauna Kai 25 last sold for $585K in 8/07 and reduced this week from $524,500 to $494,500. Pali Ke Kua 109 is still reducing by $500 a day and is now at $812K. Villas of Kamali'i 44 was discussed under the Contingent Sales portion of this update.

Now on to your Princeville home update:

Copyright 6/21/2009 by Hawaii Information Service

NEW LISTINGS
225024 RS A 2 4-5-4-13-66 FS $1,350,000 3705 Albert Rd 10,586 sqft 2,010 4/3
225130 RS A 3 4-5-4-15-3 FS $1,395,000 3979 Kamehameha Rd 10,772 sqft 3,558 5/3.5
225087 RS A 3 4-5-4-14-26 FS $1,625,000 3925 Kamehameha Rd 20,093 sqft 3,925 4/3.5

BACK ON THE MARKET
220531 RS A 134 4-5-4-13-44 FS $880,000 3646 Kaweonui Rd #II 10,937 sqft 2,240 3/2

CONTINGENT SALES
223822 RS C 48 4-5-4-13-6 FS $646,050 3695 Kaweonui Rd 11,121 sqft 2,492 4/2
222745 RS C 82 4-5-4-23-35 FS $647,000 3793 Moae Pl 6,386 sqft 1,651 3/2

WITHDRAWN
215837 RS W 281 4-5-3-12-11 FS $1,595,000 3991 Aloalii Dr 7,827 sqft 3,389 3/2.5

PRICE CHANGES
203978 RS A 577 4-5-3-11-41 FS $975,000- 4120 Aloalii Dr 9,103 sqft 2,521 3/3.5
223366 RS A 65 4-5-4-15-1 FS $499,900- 3995 Kamehameha Rd 10,244 sqft 2,117 3/2
224336 RS A 30 4-5-4-23-38 FS $544,000- 3812 Iluna Pl 6,895 sqft 1,310 3/2
220531 RS A 134 4-5-4-13-44 FS $880,000- 3646 Kaweonui Rd #II 10,937 sqft 2,240 3/2
206198 RS A 516 4-5-4-17-21 FS $1,095,000- 4914 Emmalani Dr 10,500 sqft 3,238 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.

That's it for now. I'm in Puhi house / cat sitting for friends this week and enjoying all that the Lihue area has to offer. Yesterday we took their kayak and put in at the Nawiliwili small boat harbor and went up to the end of the river then paddled around the Menehuene fish pond. Lots of fish jumping all over the place. Have a great week and don't forget to call or email for the facts before you buy or sell.

Aloha Elaine

queens-bath.JPG

Elaine Schaefer (R, CRS, GRI, ABR)
Broker in Charge - Princeville Resort Office
Certified Residential Specialist
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: http://blogs.alohaliving.com/princeville-condo-sales/

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

Comments (1)

Will Nesbitt
Nesbitt Realty at Condo Alexandria - Alexandria, VA
Nesbitt Realty is a family-run brokerage.

Good luck and congrats on the featured post.

Jun 24, 2009 10:38 PM