Aloha,
Although the first day of fall isn't until September 22, for all intents and purposes the summer selling season has come to an end with a whimper! Yes a whimper! Sure we had some sales but not nearly enough to even begin to consider this a hot summer season. Buyers continue to stand on the sidelines waiting to see what will happen next. Unfortunately, at the same time Fannie Mae and Freddie Mac continue to change guidelines which results in more "hoop jumping" when it comes to obtaining a loan, unless, of course, you are a first time home buyers which seems to be where the financial incentives and benefits are focused on at this time. Let's just hope when buyers finally think pricing is where they want it, the lenders are still interested in lending. Here is your update:
Copyright 8/31/2009 by Hawaii Information Service
NEW LISTINGS
222149 T A 5 4-5-4-5-18-1 FS $325,000 Puamana #1A 1,312 #1A 2/2
226998 T A 4 4-5-4-12-2-39 FS $349,000 Hale Moi #219 1,033 #219 1/2
208369 T A 5 4-5-4-5-39-127 FS $525,000 Cliffs At Princeville #5205 917 #5205 1/2
227167 T A 3 4-5-4-5-24-74 FS $599,000 Nihilani At Princeville Resort #25B 1,567 #25B 2/2.5
211272 T A 5 4-5-4-5-16-35 FS $795,000 Alii Kai At Hanalei #4303 1,086 #4303 2/2
227179 T A 3 4-5-4-6-1-54 FS $849,000 Villas Of Kamalii #54 1,767 #54 3/3
226466 T A 5 4-5-4-5-16-36 FS $940,000 Alii Kai At Hanalei #4304 1,086 #4304 2/2
CONTINGENT SALES
220078 T C 220 4-5-4-5-3-19 FS $239,000 Princeville Paniolo #204 1,058 #204 1/2
SALES
221360 T S 148 4-5-4-12-2-36 FS $345,000 Hale Moi #216 1,033 #216 2/2
SOLD 8/26/2009 for $300,000 (CASH) DOM 148
223488 T S 64 4-5-4-15-21-30 FS $349,000 Sandpiper Village I #130 1,042 #130 2/2
SOLD 8/26/2009 for $300,000 (CNV) DOM 64
UNDER CONTRACT
209244 T U 448 4-5-3-6-22-63 FS $894,000 Kaiulani Of Princeville #63 1,901 #63 2/2.5
WITHDRAWN
204980 SH W 562 4-5-4-5-23-28 FS $175,000 Plantation At Princeville #722 1,318 #722 3/3
212672 SH W 654 4-5-4-12-11-7 FS $297,500 Puu Poa #107 2,065 #107 2/2
226710 T W 268 4-5-4-5-23-30 FS $445,000 Plantation At Princeville #812 1,153 #812 2/2
183699 T W 1,092 4-5-4-5-23-25 FS $619,000 Plantation At Princeville #711 1,153 #711 2/2
TEMPORARILY WITHDRAWN
217010 SH T 311 4-5-4-6-1-49 FS $230,000 Villas Of Kamalii #49 1,825 #49 3/3
217215 SH T 311 4-5-4-6-1-49 FS $245,000 Villas Of Kamalii #49 1,825 #49 3/3
200456 T T 722 4-5-4-12-11-14 FS $1,425,000 Puu Poa #114 2,065 #114 2/2
PRICE CHANGES
225703 T A 52 4-5-4-15-21-34 FS $265,000- Sandpiper Village I #134 1,042 #134 2/2
200564 T A 14 4-5-4-5-16-2 FS $498,000- Alii Kai At Hanalei #1102 1,086 #1102 2/2
222635 T A 115 4-5-4-5-12-19 FS $499,000+ Sealodge Ii #H1 556 #H1 1/1
218310 T A 224 4-5-4-12-5-9 FS $719,900- Pali Ke Kua Incr I, ii, iii #109A 717 #109A 1/1
220840 T A 177 4-5-4-6-1-33 FS $879,000+ Villas Of Kamalii #33 1,825 #33 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.
Puamana 1A is a re-entry to the new listing catagory, having been previously listed from 11/06 to 2/07, starting at $588K and reducing to $545K, and again from 6/08 to 1/09, during which time it went from $515K to $440K. This time around it is listed for $325K, and will still yield a capital gain should it sell anywhere near this price, as the seller paid $157K for the unit in 7/01. Also back on the market for another try is Hale Moi 219, currently listed for $349K and last selling for $493K in 3/05. This short sale was previously listed from 12/08 to 4/09 starting at $539K and reducing to $493K. Cliffs 5205, which last sold for $600K in 6/05 is new on the market listed at $525K. Nihilani 25B, purchased for $776K in 12/06 is listed at $599K for the two bedroom, 2.5 bath Moana floor plan. Ali'i Kai 4303, which sold in 12/03 for $490K is listed for $795K. Villas of Kamali'i 54, which was listed from 5/06 to 1/07 for $1.185M before reducing to $1.095M is new this week at $849K. This unit sold for $607,500 in 11/03. The final new listing is Ali'i Kai 4304, priced at $940K. This unit was purchased for $541,500 in 2/04.
To offset all those new and returning listings, we had one unit go into escrow this past week: Paniolo 204 listed at $239K. This short sale last sold for $337,500 in 6/04. Two unit closed escrow one of which is Hale Moi 216. Purchased in 3/05 for $460K, and listed for $345K this unit ended up providing a tax write off by selling for $300K. Sandpiper 130 also closed for $300K while listed for $349K. It last sold for $238K in 6/03.
Ka'iulani 63, an agent owned unit purchased for $975K in 3/08 went under contract listed at $894K and will undoubtedly also be a tax write off.
Several units were withdrawn, a couple of which were fractional shares. Plantation 722 listed for $175K and Pu'u Po'a 107, listed for $297,500 both which were for 60 days of ownership, are now off the market. Plantation 812, purchased for $729K in 6/06 withdrew after 268 days as did Plantation 711 after a mere 1,092 days on the market. This unit sold for $455,402 in 9/05.
Two fractional share of Kamali'i 32 were temporarily withdrawn while listed at $230K and $245K. This unit sold for $509,400 in 10/03. Pu'u Po'a 114, listed for $1.425M and purchased for $1.4M in 3/05 was also temporarily taken off the market.
As for price changes, Sandpiper 134, which last sold for $485K in 7/05 reduced from $275K to $265K as a short sale. Ali'i Kai 1102, purchased for $100K in 11/87, reduced from $525K to $498K. Sealodge H1 went the other way, with an optimistic price increase of $100K, going from $399K to $499K. This cancels out a price reduction on 6/14 when the price went $100K the other way - from $499K to $399,999. This unit last sold for $560K in 8/05. Pali Ke Kua 109 finally posted a respectable reduction after approximately 2 months of reducing by $500 a day. Purchased in 12/03 for $621,400, this unit reduced from $799K to $719,900. The seller of Villas of Kamali'i 33 apparently changed their minds on their price change. Purchased in 7/04 for $649K, this unit shows as reducing from $879K to $719,900 and back up again to $879K on 8/24. And that's it for this past week. Now on to your Princeville homes update:
Copyright 8/31/2009 by Hawaii Information Service
NEW LISTINGS
227009 RS A 5 4-5-3-12-3 FS $1,988,800 4043 Aloalii Dr 8,972 sqft 3,588 3/3.5
227098 RS A 4 4-5-4-18-45 FS $697,000 4165 Kamalani Ln 10,235 sqft 2,405 3/3.5
CONTINGENT SALES
223366 RS C 136 4-5-4-15-1 FS $471,900 3995 Kamehameha Rd 10,244 sqft 2,117 3/2
EXPIRED
221534 RS X 161 4-5-4-13-48 FS $799,000 3677 Keoniana Rd 11,432 sqft 2,066 3/2.5
PRICE CHANGES
210722 RS A 488 4-5-4-18-7 FS $850,000- 4170 Mahina Pl 10,751 sqft 2,310 2/3.5
This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.
Enjoy the rest of your summer. I did, with a return hike in Kapaa along the Moalepe trail which connects to the Kailau trail ending at a great swimming hole by the arboretum. Great views along the way.
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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