Aloha,
We're seeing some movement in the market as those sellers who really want to sell are reducing to the point that buyers are seeing value. Also selling are the foreclosures and even some of the short sales, although it takes a patient buyer to stay in escrow until the end. Here is your update for this week-
Copyright 8/16/2009 by Hawaii Information Service
NEW LISTINGS
226519 T A 4 4-5-4-5-23-14 FS $495,000 Plantation At Princeville #412 1,153 #412 2/2
226466 T A 6 4-5-4-5-16-36 FS $940,000 Alii Kai At Hanalei #4304 1,086 #4304 2/2
CONTINGENT SALES
225806 T C 31 4-5-4-5-24-40 FS $489,900 Nihilani At Princeville Resort #14A 1,874 #14A 3/2.5
222926 T C 127 4-5-4-5-24-66 FS $565,000 Nihilani At Princeville Resort #22C 1,874 #22C 3/2.5
SALES
220199 T S 131 4-5-4-5-13-4 FS $289,900 Kamahana #4 1,145 #4 2/2
SOLD 8/12/2009 for $276,000 (CASH) DOM 131
210693 T S 375 4-5-4-5-24-28 FS $650,000 Nihilani At Princeville Resort #10A 1,874 #10A 3/2.5
SOLD 8/14/2009 for $645,000 (CNV) DOM 375
221737 T S 87 4-5-4-12-8-21 FS $795,000 Pali Ke Kua Ii #228 1,135 #228 2/2
SOLD 8/12/2009 for $725,000 (CASH) DOM 87
EXPIRED
214741 T X 364 4-5-4-5-23-66 FS $578,000 Plantation At Princeville #1712 1,153 #1712 2/2
WITHDRAWN
208801 T W 488 4-5-4-11-3-84 FS $329,000 Hanalei Bay Resort #N22 867 #N22 1/2
204020 T W 620 4-5-4-12-2-28 FS $380,000 Hale Moi #208 1,033 #208 2/2
223148 T W 107 4-5-4-5-18-71 FS $382,750 Puamana #20A 1,532 #20A 2/2
217123 T W 287 4-5-4-5-23-34 FS $579,000 Plantation At Princeville #912 1,153 #912 2/2
PRICE CHANGES
196998 T A 796 4-5-4-15-21-43 FS $318,000- Sandpiper Village I #206 1,173 #206 2/2.5
223270 T A 123 4-5-4-5-27-19 FS $325,000- Hale Honu #10A 1,085 #10A 3/2
226111 T A 19 4-5-4-15-21-54 FS $391,900- Sandpiper Village I #217 1,173 #217 2/2.5
214167 T A 382 4-5-4-12-8-24 LH $399,000- Pali Ke Kua Ii #130 1,100 #130 2/2
212901 T A 391 4-5-4-5-16-37 FS $649,000- Alii Kai At Hanalei #5101 1,086 #5101 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.
New this week is Plantation 412 listed for $495K. This unit last sold for $405K in 9/05 from the developer. Ali'i Kai 4303, purchased for $541,500 in 2/04 and listed for $940K is the only other new listing this week.
It comes as no surprise that the Nihilani Makani floorplan unit 14A went into escrow after only 25 days on the market. With a list price of $489,900 is was well below what other Makani units have sold for recently. This unit last sold for $761,450 in 3/06 and was foreclosed on by the bank in 6/09. Also going into escrow was a second Nihilani Makani floorplan unit 22C, which is a short sale. This beautifully upgraded and furnished unit was purchased from the developer in 11/06 for $848,956 and featured upgraded cabinets and bathrooms along with mountain, golf course and lake views. It was originally listed for $620K but reduced quickly during the 127 days on the market.
It's a sign of times improving when there are multiple sales to report starting with bank REO Kamahana 4 which was listed for $289,900 and sold for $276K this week. The seller purchased this unit for $499K in 9/05 but it was foreclosed on by the bank on 2/09. We have another Nihilani unit in the news, unit 10A which is one of the developer's Makani units which sold for $645K with a list price of $650K. Slowly but surely Brookfield is closing out their inventory and offering concessions along the way. They recently reduced one of their Hoku units, 3B, from $550K to $485K in an effort to attract a buyer. I personally like the reverse floor plan Hoku, which is the floorplan I purchased. At the time of construction, the downstairs family rooms could be converted to a third bedrooms which I felt was a much better use of the space. Although 3B is only a 2 bedroom at this time, I'm sure you could convert to a 3 bedroom without too much trouble. Also selling this week is Pali Ke Kua 228 which was purchased as a leasehold for $236,800 in 4/98 and converted to fee simple in 12/99 for $43,800. Listed for $795K it closed at $725K and is one of the rare transactions that yielded a capital gain!
Plantation 1712, listed for $578K expired after a year on the market without any price reductions. This unit last sold in 2/08 for $515K.
Hanalei Bay Resort N22 was withdrawn from the market after 488 days of exposure. It started out listed at $550K and reduced over time to $329K. This unit was purchased for $469,900 in 1/06. Hale Moi 208 which started out at $495K and reduced to $380K during the 620 days on the market was withdrawn. Unit 208 last sold for $215K in 11/01. Puamana 20A was only on the market for 107 days when it was withdrawn. Listed for $382,700 it last sold in 9/01 for $170K. Plantation 912 was withdrawn after 287 days with no price reductions while listed at $579K. This unit was purchased for $599K in 10/05 which left the seller with no room for negotiations.
Moving on to price reductions we have Sandpiper 206, which reduced from $325K to $318K. Initially listed at $525K, this unit has been on the market almost 800 days and was last purchased for $114,500 in 11/99. It faces onto Ka Haku Road which means it has golf course, mountain, lake and waterfalls views. I've shown this unit several times and used to own in Sandpiper. Considering how "rentable" these units are and given the current price, I'm surprised to see this one still on the market. Take a look at all the Sandpipers on the market and compare. Please note that there are two floor plans with the downstairs units being smaller than the upstairs:
Copyright 8/16/2009 by Hawaii Information Service
224335 T A 82 4-5-4-15-21-11 FS $275,000 Sandpiper Village I #111 1,042 #111 2/2
225703 T A 37 4-5-4-15-21-34 FS $275,000 Sandpiper Village I #134 1,042 #134 2/2
196998 T A 796 4-5-4-15-21-43 FS $318,000 Sandpiper Village I #206 1,173 #206 2/2.5
226309 T A 17 4-5-4-15-21-23 FS $325,000 Sandpiper Village I #123 1,042 #123 2/2
206436 T A 556 4-5-4-15-21-7 FS $329,000 Sandpiper Village I #107 1,042 #107 2/2
226111 T A 19 4-5-4-15-21-54 FS $391,900 Sandpiper Village I #217 1,173 #217 2/2.5
181966 T A 430 4-5-4-15-21-50 FS $399,999 Sandpiper Village I #213 1,173 #213 2/2.5
This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.
Hale Honu 10A, which last sold for $510K in 8/05, reduced from $399K to $325K. This short sale started out at $438K when it first came on the market. Sandpiper 217 which last sold for $310K in 2/04, also reduced, going from $399,900 to $391,900. Pali Ke Kua 130, an agent owned lease hold unit purchased in 3/06 for $429K, went from $449K to $399K. Ali'i Kai 5101, which offers a nice ocean view, wins the price reduction of the week award going from $749K to $649K. This unit started out at $849K and last sold in 5/04 for $595K. Judging from this last price reduction, I'd say this seller is more than eager to sell so bring your buyers. On to your Princeville Homes update:
Copyright 8/16/2009 by Hawaii Information Service
NEW LISTINGS
226493 RS A 5 4-5-4-19-16 FS $967,000 5112 Napo'okala Cir 15,320 sqft 2,196 3/2.5
221067 RS A 4 4-5-4-14-17 FS $1,375,000 3835 Albert Rd 10,579 sqft 2,743 3/3.5
225837 RS A 2 4-5-4-7-6 FS $1,895,000 3932 Namakeha Lp 12,575 sqft 2,848 4/3.5
226733 RS A 2 4-5-4-18-10 FS $3,650,000 4184 Mahina Pl 12,200 sqft 3,927 3/3.5
BACK ON THE MARKET
223822 RS A 104 4-5-4-13-6 FS $613,100 3695 Kaweonui Rd 11,121 sqft 2,492 4/2
WITHDRAWN
223228 RS W 121 4-5-4-20-32 FS $950,000 5145 Kapi'olani Loop #III 9,826 sqft 1,920 3/2
PRICE CHANGES
214429 RS A 373 4-5-4-16-41 FS $725,000- 4136 Kekaulike Ln 10,500 sqft 3,024 3/3
220531 RS A 190 4-5-4-13-44 FS $840,000- 3646 Kaweonui Rd #II 10,937 sqft 2,240 3/2
222122 RC A 157 4-5-4-4-46 FS $1,595,000- 4901 Hanalei Plant Rd 1.41 ac 1,802 4/2
225022 RC A 157 4-5-4-4-46 FS $2,695,000- 4901 Hanalei Plant Rd 2.49 ac 1,802 4/2
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. There's quite a few good buys to be had which will not always be the case. Don't miss out on this buying opportunity. Just don't forget to call or email for the facts before you buy or sell.
Aloha Elaine
My horse "Bics" gets a small but steady hand from her friend Michelle.
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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