Aloha,
It's another beautiful day in Paradise after two days of rain. This time of the year is when it's easiest to tell locals from visitors - locals are all bundled up (after all, it does get down into the 60′s in the evening, and it is cool with the rain during the day) while visitors are just happy they can get out of their condo and into the car without having to trudge through a snowstorm. As a result, they're happily walking around, rain or shine, in shorts and tank tops with an occasional sweater. It's really fun to notice the difference and it's certainly a reminder of how lucky we are to live Kauai. On to your weekly update:
Copyright 2/13/2011 by Hawaii Information Service
NEW LISTINGS
242677 CND AT CPR A 7 4-5-4-5-13-13 FS $419,000 Kamahana #13 1,635 #13 3/2.00
242619 CND,MTF 2U,AT CPR A 4 4-5-3-6-22-7 FS $1,395,000 Kaiulani Of Princeville #7 18.00 ac 2,864 #7 3/3.01
BACK ON THE MARKET
237043 CND AT CPR A 189 4-5-4-5-16-53 FS $475,000 Alii Kai At Hanalei #7102 886 #7102 2/2.00
231254 CND AT CPR A 372 4-5-4-5-13-11 FS $599,000 Kamahana #11 2,073 #11 3/2.00
CONTINGENT SALES
235813 CND AT CPR C 242 4-5-3-6-22-30 FS $1,595,000 Kaiulani Of Princeville #30 18.00 ac 2,864 #30 3/3.01
242417 CND AT CPR C 12 4-5-4-5-16-35 FS $386,500 Alii Kai At Hanalei #4303 1,086 #4303 2/2.00
227872 CND AT CPR C 236 4-5-4-5-24-16 FS $470,000 Nihilani At Princeville Resort #6A 1,874 #6A 3/2.01
SALES
234283 CND CPR S 39 4-5-4-5-18-1 FS $310,000 Puamana #1A 1,312 #1A 2/2.00
SOLD 2/10/2011 for $270,000 (CNV) DOM 39
EXPIRED
220974 CND CPR X 728 4-5-4-5-24-63 FS $585,000 Nihilani At Princeville Resort #21C 1,972 #21C 2/3.00
240225 CND AT CPR X 92 4-5-4-5-13-14 FS $595,000 Kamahana #14 1,635 #14 3/2.00
WITHDRAWN
238596 CND AT CPR W 148 4-5-4-5-13-13 FS $419,000 Kamahana #13 1,635 #13 3/2.00
PRICE CHANGES
238674 CND AT CPR A 149 4-5-3-6-22-43 FS $1,350,000- Kaiulani Of Princeville #43 2,443 #43 3/3.01
234084 CND AT CPR A 212 4-5-3-6-22-5 FS $1,575,000- Kaiulani Of Princeville #5 2,843 #5 3/3.01
238211 CND AT CPR A 124 4-5-4-5-39-55 FS $321,500- Cliffs At Princeville #2305 1,137 #2305 2/2.00
228849 CND AT CPR A 467 4-5-4-5-23-25 FS $485,000- Plantation At Princeville #711 1,153 #711 2/2.00
232843 CND AT CPR A 340 4-5-4-12-11-14 FS $899,000- Puu Poa #114 2,065 #114 2/2.00
This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.
Kamahana 13 was withdrawn from the market (you'll see it under the "withdrawn" section of this update) and relisted with a different brokerage all in the same day. This unit sold for $640K in 10/05 and is now listed for $419K. It has been chasing the market down for some time now, having been first listed in 5/06 to 9/07, starting at $719K and reducing to $686K; from 12/07 to 12/08 starting at $686K and dropping to $499K; again from 5/09 to 10/09 during which time it went from $475K to $449K and this last time from 9/10 to 2/11 when it started at $449K then went to $419K. It expired each time except for the last time when it was withdrawn.
Ka'iulani 7 is one of the developer's unit and is listed this time at a new low price of $1.395M. It was originally listed from 12/06 to 8/07 for $1.950M and then from 3/08 to 12/08 starting at $1.950M and increasing to $1.995M when it was withdrawn. At this new price, it stands a good chance of finding a buyer.
Ali'i Kai 7102 and Kamahana 11 are both back on the market after expiring. Ali'i Kai sold for $652K in 5/05 and has been listed for $475K for the life of the listing. Kamahana 11 is listed at $599K and sold for $570K in 8/04.
Several units went into escrow this week starting with short sale Ka'iulani 30 which had recently reduced from $1.950M to $1.595M. This unit sold for $2.3M in 8/07. Bank REO Ali'i Kai 4303, priced at a very attractive $385,500, went quickly into escrow with only 12 days on the market. This unit last sold for $490K in 12/03. Short sale Nihilani 6A, priced at $470K went into escrow while priced at $470K and last sold for $770,080 on 2/07.
Puamana 1A was listed for $470K and sold as a short sale for $270K after selling in 7/01 for $157K.
Nihilani 21C, a short sale priced at $585K, sold for $844,795 in 10/06 and expired this week priced at $585K after 728 market days. Kamahana 14 was priced at $595K when it expired and last sold for $410K in 11/03.
As stated at the beginning of this update, Kamahana was withdrawn then immediately relisted with a new brokerage.
As for price reductions: Ka'iulani 43 sold for $1.650M from the developer in 3/08 and reduced this week from $1.695M to $1.350M. Ka'iulani 5 reduced from $1.670M to $1.575M after selling from the developer in 4/08 for $1,765,990. Cliffs 2305 continued to reduced by a few dollars each week, this time going from $324K to $321,500 after selling for $680K in 6/06. Plantation 711 was purchased for $455,402 in 9/05. This unit reduced from $585K to $485K. Short sale Pu'u Po'a 114 reduced from $945K to $899K and last sold in 3/05 for $1.4M.
Now on to your Princeville home update:
Copyright 2/13/2011 by Hawaii Information Service
NEW LISTINGS
242579 RES DT FL A 3 4-5-4-10-17 FS $849,000 5275 Honoiki Rd. 10,264 sqft 2,146 3/2.01
242681 RES DT FL A 6 4-5-4-17-14 FS $1,850,000 4825 Emmalani Dr 12,290 sqft 3,313 4/3.01
CONTINGENT SALES
238655 RES DT FL C 153 4-5-4-16-40 FS $627,000 4130 Kekaulike Ln 10,500 sqft 1,625 3/2.00
224321 RES DT FL C 633 4-5-4-18-50 FS $995,000 4571 Emmalani Dr 10,645 sqft 3,680 3/3.01
SALES
237430 RES DT FL S 14 4-5-4-24-9 FS $575,000 4228 Waileia Pl 9,049 sqft 2,016 #0 3/3.00
SOLD 2/7/2011 for $600,000 (CASH) DOM 14
186555 RES DT FL S 1472 4-5-4-4-38 FS $7,490,000 4971 Hanalei Plantation 1.25 ac 4,630 4/5.00
SOLD 2/11/2011 for $5,500,000 (CASH, CNV) DOM 1472
This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.
It should be clear that seller's are finally coming down to pricing where buyers are finding value.
I think we'll be seeing much more of the same in the coming months. If you'd like me to track pricing in any particular area or in a specific complex, please send me an email with a list of your needs and wants. I'm here to help you make the best buying or selling decision by providing the facts. Most importantly - have a very Happy Valentines day with your loved ones!
Aloha Elaine
A flower for Valentine's Day
Elaine Schaefer (R, CRS, GRI, ABR, SFR)
Broker in Charge - Princeville Resort Office
Certified Residential Specialist
Graduate, Realtor's Institute
Accredited Buyer's Representative
Short Sale and Foreclosure Resource Certification
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/
......Making your real estate dreams
my business.........
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