Princeville condo (and house) + short sale update for the week of May 8th to May 14th

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

Aloha,

We've had more rain than we know what to do with this week, with one flash flood watch/warning after another. I think we're all ready for some good old sunny days. It doesn't seem all the rain slowed down the condos buyers, judging from the activity this week. Here is your update:

Copyright 5/15/2011 by Hawaii Information Service

NEW LISTINGS
245262 CND AT CPR A 5 4-5-3-11-1-10 FS $895,000 Villas On The Prince #10 1,732 #10 3/3.00
245259 CND AT CPR A 5 4-5-3-6-22-20 FS $2,495,000 Kaiulani Of Princeville #20 2,864 #20 3/3.01
245242 CND DT CPR A 2 4-5-4-5-30-26 FS $293,040 Princeville Mauna Kai #T4 1,512 #T4 3/2.01
245294 CND AT CPR A 3 4-5-4-11-3-16 FS $1,195,000 Hanalei Bay Resort #C26 1,705 #C26 3/3.00
225686 CND AT CPR T 0 4-5-4-5-16-57 FS $399,000 Alii Kai At Hanalei #7202 886 #7202 2/2.00

BACK ON THE MARKET
237851 CND AT CPR A 195 4-5-4-5-23-36 FS $399,500 Plantation At Princeville #922 1,318 #922 3/3.00

CONTINGENT SALES
244433 CND AT CPR C 34 4-5-4-5-24-71 FS $299,000 Nihilani At Princeville Resort #24B 1,406 #24B 2/2.00
232993 CND AT CPR C 82 4-5-4-5-18-75 FS $330,000 Puamana #21A 1,312 #21A 2/2.00
240062 CND AT CPR C 195 4-5-4-12-10-16 FS $400,000 Emmalani Court #314 1,192 #314 2/2.00

SALES
241678 CND AT CPR S 86 4-5-4-5-24-80 FS $339,900 Nihilani At Princeville Resort #27B 1,567 #27B 3/2.01
SOLD 5/13/2011 for $330,000 (CASH, CNV) DOM 86

UNDER CONTRACT
235875 CND AT CPR U 294 4-5-3-6-22-56 FS $1,195,000 Kaiulani Of Princeville #56 2,443 #56 3/3.01

EXPIRED
240260 CND AT CPR X 178 4-5-3-11-1-4 FS $875,000 Villas On The Prince #4 1,732 #4 3/5.00

WITHDRAWN
244400 CND AT CPR W 30 4-5-4-5-18-4 FS $389,000 Puamana #1D 1,533 #1D 2/2.00

PRICE CHANGES
242236 CND AT CPR A 114 4-5-4-12-9-28 LH $189,900- Pali Ke Kua Iii #238 993 #238 2/2.00
240109 CND AT CPR A 192 4-5-4-5-23-14 FS $430,000- Plantation At Princeville #412 1,153 #412 2/2.00
241801 CND AT CPR A 121 4-5-4-5-24-94 FS $475,000- Nihilani At Princeville Resort #32A 1,857 #32A 3/2.01
227839 CND AT CPR A 587 4-5-4-6-1-18 FS $674,900- Villas Of Kamalii #18 1,825 #18 3/3.00

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

New Listings:
Villas on the Prince 10 is back again as a new listing priced at $895K, after selling in 2/02 from the developer for $474,320. This unit was first listed from 4/06 to 4/07 starting at $1.249M and reducing to $1.088; from 6/07 to 9/08 starting at $999K and reducing to $985K; from 11/08 to 4/10 during which time it went from $985K to $925K and from 6/10 to 4/11 at $895K. It was withdrawn on all the prior listing occasions. Ka'iulani 20 is also back as a new listing priced at $2.495M. This unit sold for $1,985,180 in 11/07 and first came on the market in 11/08 to 1/09 priced at $2.650M. It was then listed from 2/09 to 7/09 for $2.650M and finally from 10/09 to 4/11 starting at $2.650M and reducing to $2.595M.

Mauna Kai T4 is a new REO listing priced at $293,400 which last sold for $655K in 11/06. Hanalei Bay Resort 4201-2-3 is also new this week priced at $1.195M. This is the first time listed since it sold for $1.125M in 8/05. Ali'i Kai 7202 looks like a new listing priced at $399K with zero market days, however, it's been on the market since 7/09 at which time it was listed for $675K. The change in market days was caused by the list agent changing brokerage affiliation. This unit sold for $115K in 1/88.

Back on the Market:
Plantation 922 is yet another one of the many short sales to fall out of escrow. This unit sold for $566,815 in 7/07 and was offered at $399,500. It went into escrow on ¾ and is now back on the market for some other fortunate buyer.

Contingent:
Short sale Nihilani 24B went into escrow priced at a new low of $299K. This unit sold for $677K from the developer in 12/06. Puamana 21A, priced at $330K went into escrow. This unit was purchased for $253K in 5/03 and is one of the few units that is not a short sale or foreclosure. Emmalani Court 314 was purchased for $330K in 12/94 and it went into escrow with a list price of $400K.

Sold:
FNMA REO Nihilani 27B sold for $330K while listed for $339,900. It was purchased from the developer on 10/06 for $682,180. Great price on this condo!

Under Contract:
The developer's Ka'iulani 56 went under contract with a list price of $1.195M which means it should be closing within the next week or two.

Expired:
Villas on the Prince 4 expired listed at $875K. This unit sold for $725K in 5/05.

Withdrawn:
Puamana 1D was withdrawn after only 30 market days priced at $389K. This unit last sold for $345K in 8/03.

Price Change:
Bank owned leasehold Pali Ke Kua 238, which sold for $369K in 3/04, reduced from $249,900 to $189,900. Plantation 412 sold for $405K in 9/05 and reduced from $440K to $430K. Short sale Nihilani 32A reduced from $505K to $475K and sold from the developer in 3/06 for $985K. Villas of Kamali'i 18 sold for $630K in 1/04 and went from $699K to $674,900.

There certainly was more activity in Princeville condos than Princeville homes. Take a look at the price reductions that occurred this week:

Copyright 5/15/2011 by Hawaii Information Service

PRICE CHANGES
243692 RES DT FL A 60 4-5-4-16-19 FS $544,900- 4064 Kaahumanu Pl # 12,058 sqft 2,274 2/3.00
239215 RES DT FL A 195 4-5-4-23-50 FS $724,400- 3788 Moae Pl 6,974 sqft 1,699 3/2.00
235333 RES DT FL A 341 4-5-4-22-17 FS $849,000- 4030 Kaikio'ewa Pl 12,229 sqft 2,382 #0 3/3.00
243593 RES DT FL A 61 4-5-4-19-1 FS $1,145,000- 4165 Liholiho Rd 25,212 sqft 3,235 3/2.01

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. It's good to see some of the condos moving - especially at such attractive pricing. Hopefully, if you're a buyer, you won't miss out on this great market. Remember, if you want the facts, don't forget to email or call. Until then, enjoy the sunshine when you have it.

Aloha, Elaine

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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Elaine Schaefer

R, CRS, GRI, ABR, SFR
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