Aloha,
Here we are in the last month of Summer and real estate has held it's same sluggish pace. Most buyers feel that waiting can only benefit them, and to some degree, I have to agree. However, there are some properties that are so competatively priced that I'm really surprised they are not in escrow. I also agree that many of the properties on the market are still overpriced - and will remain that way until the sellers either decide they really want to sell and reduce or they take their property off the market until things improve. We Realtors can only wish for this to happen!
Here is your update for this week:
Copyright 8/9/2009 by Hawaii Information Service
NEW LISTINGS
226457 SH A 5 4-5-4-5-23-9 FS $135,000 Plantation At Princeville #311 1,153 #311 2/2
226523 T A 3 4-5-4-5-4-5 FS $239,000 Princeville Mauna Kai #5A 1,503 #5A 2/2
226280 T A 6 4-5-4-5-23-51 FS $625,000 Plantation At Princeville #1321 1,318 #1321 3/3
226233 T A 3 4-5-4-6-1-59 FS $795,000 Villas Of Kamalii #59 1,766 #59 3/3
CONTINGENT SALES
221842 T C 157 4-5-4-12-3-32 FS $899,000 Hanalei Bay Villas #32 1,248 #32 2/2
SALES
221018 T S 99 4-5-4-5-12-28 FS $615,000 Sealodge Ii #J1 754 #J-1 2/2
SOLD 8/6/2009 for $585,000 (CNV) DOM 99
UNDER CONTRACT
221360 T U 148 4-5-4-12-2-36 FS $345,000 Hale Moi #216 1,033 #216 2/2
EXPIRED
214648 T X 365 4-5-3-6-22-2 FS $2,195,000 Kaiulani Of Princeville #2 2,843 #2 3/3.5
214427 T X 365 4-5-4-5-17-23 FS $499,000 Alii Kai Ii Hanalei #10G 1,037 #10G 2/2
WITHDRAWN
223363 T W 109 4-5-4-5-4-5 FS $259,000 Kaeo Kai Ph I #5A 1,503 #5A 2/2
222557 T W 132 4-5-4-11-3-125 FS $850,000 Hanalei Bay Resort #R17 867 #3105-6 1/2
PRICE CHANGES
222344 SH A 143 4-5-4-5-23-23 FS $150,000- Plantation At Princeville #621 1,318 #621 3/3
226523 T A 3 4-5-4-5-4-5 FS $239,000- Princeville Mauna Kai #5A 1,503 #5A 2/2
204020 T A 619 4-5-4-12-2-28 FS $380,000- Hale Moi #208 1,033 #208 2/2
210598 T A 453 4-5-4-5-24-8 FS $485,000- Nihilani At Princeville Resort #3B 1,567 #3B 2/2.5
216340 T A 310 4-5-4-5-23-41 FS $499,000- Plantation At Princeville #1111 1,153 #1111 2/2
218864 T A 242 4-5-4-5-23-11 FS $649,000- Plantation At Princeville #321 1,318 #321 3/3
211272 T A 449 4-5-4-5-16-35 FS $795,000- Alii Kai At Hanalei #4303 1,086 #4303 2/2
207497 T A 531 4-5-4-11-3-49 FS $950,000- Hanalei Bay Resort #J11 1,324 #7101-2 Banana 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.
Plantation 311 is our first new listing this week and is offering a fractional share for $135K. This unit made some money for the original purchaser who bought it from the developer for $405K on 6/05 and immediately sold it to the current owner for $539K. Mauna Kai 5A, which last sold in 8/02 for $200K, is back as an REO listed at $239K. This unit was just withdrawn while listed as an REO which started at $319,900 in 4/09 and reduced down to $259K in 8/09 at which time it was withdrawn and relisted. Prior to this, it was listed for over 400 days in an effort to find a buyer but was unsuccessful. Also new this week in the Plantation complex is unit 1321, listed for $625K. This unit last sold for $523,993 in 11/05. Villas of Kamali'i 59, listed for $705K is the last entry and last sold for $586K in 4/04.
Hanalei Bay Villas 32, listed at $899K went into escrow after only 151 market days. It last sold for $950K in 11/05 and will undoubtedly be a tax write off.
Sealodge J1 closed this week at $585K after being listed for 99 days for $615K. This unit last sold for $325K in 9/02 bringing this seller welcome capital gains. Hale Moi 216 moved to under contract from contingent. Listed for $345K this unit sold for $460K in 3/05 and will also yield a tax write off.
One of the developer's Ka'iulani units, #2 expired after 365 days while listed for $2.195M. Ali'i Kai 10G expired while listed at $499K. During the 365 days it was listed, there was one price reduction from $599K to $499K in 5/09. This unit last sold for $129,500 in 6/89.
Mauna Kai 5A, also known as Ka'eo Kai, was withdrawn after 109 days listed as an REO at $259K. You saw this unit earlier as a new listing in this report. Hanalei Bay Resort 3105-6 was withdrawn listed at $850K after 132 days on the market. It came onto the market at $825K and increased to $850K which is where it stayed for the life of the listing. This unit was puchased for $895K in 5/05 leaving this seller with no room for negotiations.
On to our price changes. A fractional share of Plantation 621 reduced from $165K to $150K. This unit was purchased for $550K in 8/05. Mauna Kai 5A, which was relisted this week initially at $259K went quickly down to $239K. Hale Moi 208,which last sold for $215K in 11/01 reduced from $399K to $380K. This unit started at $485K. The developer's Nihilani 2 bedroom 2.5 bath Hoku unit 3B was reduced from $550K to $485K. At one point, this unit was listed for $603,300. Plantation 1111 went from $580K to $499K and last sold in 11/05 from the developer for $430K then was immediately flipped for $598,402 to the present owner. Plantation 321 reduced from $659K to $649K. This unit last sold for $435K from the developer in 7/05. Ali'i Kai 4303 initially increased in price from $830K to $840K on 8/4 after 445 days on the market without a sale. It then went from $840K to $795K on 8/06 and last sold for $490K in 12/03. Hanalei Bay Resort 7101-2, purchased for $504,145 in 9/03 reduced from $998K to $950K.
Now on to your Princeville Home update:
Copyright 8/9/2009 by Hawaii Information Service
NEW LISTINGS
226491 RS A 4 4-5-4-23-38 FS $525,000 3812 Iluna Pl 6,895 sqft 1,310 3/2
BACK ON THE MARKET
220820 RS A 173 4-5-4-13-40 FS $995,000 3618 Keoniana Rd 12,013 sqft 3,081 4/3.5
CONTINGENT SALES
223822 RS C 97 4-5-4-13-6 FS $613,100 3695 Kaweonui Rd 11,121 sqft 2,492 4/2
WITHDRAWN
224336 RS W 75 4-5-4-23-38 FS $525,000 3812 Iluna Pl 6,895 sqft 1,310 3/2
PRICE CHANGES
219545 RS A 219 4-5-4-22-26 FS $545,000- 4372 Emmalani Dr 11,390 sqft 1,294 3/2
225252 RS A 45 4-5-4-21-10 FS $889,000- 3836 Kaweonui Rd 10,018 sqft 2,016 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.
That's it for this week. Don't forget to call or email with your requests for the facts - before you buy or sell. Have a great week!
Aloha Elaine
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!
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