Aloha,
And happy Fourth of July to everyone. It's a magnificent day here with lots of blue sky and a healthy dose of tradewinds. Our parking lot here at the Cliffs is jammed full of cars, indicative of summer travel. The hard thing to believe is that we're already in July. Are they shortening the months or what?
We didn't quite meet the sales stats from Jun 2010 which had 73 sales whereas June 2011 only had 65. We did however, have more condo sales - 28 compared to 25 last year with the majority occurring in the Kawaihau zone. Here's your update for this week:
Copyright 7/3/2011 by Hawaii Information Service
NEW LISTINGS
246518 CND AT CPR A 3 4-5-3-6-22-77 FS $749,000 Kaiulani Of Princeville #77 1,892 #77 2/2.01
246535 CND AT CPR A 4 4-5-3-6-22-63 FS $839,000 Kaiulani Of Princeville #63 1,901 #63 2/2.01
243060 CND AT CPR A 2 4-5-4-15-21-59 FS $239,000 Sandpiper Village I #222 1,173 #222 2/2.01
246456 CND AT CPR A 6 4-5-4-5-17-42 FS $289,000 Alii Kai Ii Hanalei #13B 1,020 #13B 2/2.00
236129 CND AT CPR A 2 4-5-4-5-39-72 FS $399,000 Cliffs At Princeville #3204 917 #3204 1/2.00
240429 CND AT CPR A 2 4-5-4-5-23-61 FS $441,000 Plantation At Princeville #1611 1,153 #1611 2/2.00
246499 CND AT CPR A 4 4-5-4-5-16-28 FS $475,000 Alii Kai At Hanalei #4104 1,086 #4104 2/2.00
246681 CND AT CPR A 312 4-5-4-5-39-191 FS $549,000 Cliffs At Princeville #9201 963 #9201 1/2.00
244204 CND AT CPR A 6 4-5-4-6-1-4 FS $595,000 Villas Of Kamalii #4 1,766 #4 3/3.00
231254 CND AT CPR A 2 4-5-4-5-13-11 FS $599,000 Kamahana #11 2,073 #11 3/2.00
236134 CND AT CPR A 2 4-5-4-6-1-54 FS $799,000 Villas Of Kamalii #54 1,767 #54 3/3.00
243770 CND DT CPR A 2 4-5-4-12-3-29 FS $799,000 Hanalei Bay Villas #29 1,364 #29 2/2.01
246524 CND AT CPR A 6 4-5-4-12-11-10 FS $1,250,000 Puu Poa #110 2,065 #110 2/2.00
243597 CND AT CPR C 2 4-5-4-5-24-20 FS $370,000 Nihilani At Princeville Resort #7B 1,406 #7B 2/2.00
240048 CND AT CPR C 2 4-5-4-5-24-55 FS $545,000 Nihilani At Princeville Resort #19A 1,874 3/2.01
BACK ON THE MARKET
244519 CND AT CPR A 76 4-5-4-5-24-1 FS $575,000 Nihilani At Princeville Resort #1A 10.12 ac 1,406 #1A 2/2.00
CONTINGENT SALES
246173 CND AT CPR C 19 4-5-4-15-21-47 FS $237,000 Sandpiper Village I #210 1,173 #210 2/2.01
245656 CND AT CPR C 32 4-5-4-5-24-62 FS $299,900 Nihilani At Princeville Resort #21B 1,406 #21B 2/2.00
242383 CND AT CPR C 152 4-5-4-5-7-23 FS $399,000 Princeville Sealodge #C3 564 #C3 1/1.00
246309 CND AT CPR C 12 4-5-4-5-16-22 FS $595,000 Alii Kai At Hanalei #3202 1,086 #3202 2/2.00
EXPIRED
235576 CND AT CPR X 342 4-5-4-5-7-47 FS $459,000 Princeville Sealodge #E9 566 #E9 1/1.00
238116 CND AT CPR X 311 4-5-4-5-39-191 FS $549,000 Cliffs At Princeville #9201 963 #9201 1/2.00
PRICE CHANGES
243060 CND AT CPR A 2 4-5-4-15-21-59 FS $239,000- Sandpiper Village I #222 1,173 #222 2/2.01
227902 CND AT CPR A 605 4-5-4-6-1-27 FS $795,000- Villas Of Kamalii #27 1,815 #27 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:
There appears to be quite a few new listings this week but that's not actually the case. Two brokerages merged resulting in having to relist the properties all under one name. Because these condos are not new listings, and were discussed at that time they came on the market, they will not be addressed in this update. That will include Cliffs 3204, Plantation 1611, Kamahana 11, Villas of Kamali'i 54, Hanalei Bay Villas 29, Nihilani 7B and Nihilani 19A.
Now that we have that squared away: We have two new Ka'iulani townhomes on the market; unit 77 which sold for $826,530 in 4/07 and is priced as a potential short sale for $749K and unit 63 which sold for $810K in 9/09 and is listed for $839K. There are also two new Ali'i Kai units; number 13 sold for $150K back in 7/92 and comes on the market this week at $289,900 while Ali'i Kai 4104 comes on as a short sale priced at $475K after selling for $950K in 8/05. This unit was previously listed from 7/08 to 1/11 starting at $925K and reducing to $799K. Cliffs 9201, which sold as a leasehold for $135K in 12/86 and converted to fee simple in 11/91 for $22,500, shows up as a new listing with 311 days. You'll also see this condo under the expired section of this report -they changed agents when the listing was reactivated which caused it to show up as "new."
Short sale Villas of Kamali'i 4, which fronts the golf course, is priced at $595K after selling for $900K in 3/07. It was also listed from 3/09 to 12/09 starting at $945K and reducing to $925K when it expired. It came back on the market in 1/10 to 6/10 priced at $895K but expired before finding a buyer. We have Pu'u Po'a 110 re-entering the market, priced at $1.295M with a former sale price of $1,637,500 in 7/05. It was previously listed from 6/10 to 3/11 at $1.4M when it was withdrawn.
Back on the Market:
Moana floorplan Nihilani 1A is back on the market after being temporarily withdrawn, still priced at $575K. This unit sold from the developer on 5/08 for $695K.
Contingent:
Bank REO Sandpiper 210 priced at $237K wasted no time going into escrow after only 17 market days. This upstairs condo sold for $535K in 6/05. FNMA REO Nihilani 21B went into escrow while priced at $299,900. This unit sold from the developer in 10/06 for $656,650 and was foreclosed on in 9/10. Sealodge C3 priced at $399K went into escrow. This unit last sold for $365K in 5/03. Ali'i Kai 3202, which is a short sale priced at $595K after selling for $770K in 3/05, also quickly went into escrow with only 10 market days.
Everyone keeps asking me if I think we're at the bottom of the market - wondering how they can tell if this is it. In my opinion, the best indicator of the market is buyer response. When buyers feel there is value for their dollar they will buy. Considering how quickly some of these units are being snapped up, I would say we're there. I would also advise buyers not to miss out on this great opportunity. You may have missed the boat with the big appreciation wave throughout 04-06 - don't miss out again.
Expired:
Sealodge E9, which was purchased for $285K in 12/00 expired while listed for $459K. As noted under new listings, Cliffs 9201 expired and was then reactivated under a different agent in the same brokerage.
Price Changes:
Short sale Sandpiper 222, an upstairs unit purchased for $474,230 in 9/05 went from $245K to $239K. Villas of Kamali'i 27 reduced from $845K to $795, having last sold for $465K from the developer in 11/03.
As was the case with the condos, you'll see several "new" listings which are actually existing listings that were relisted when the two brokerages merged. There are no new residential listings this week. Here is the rest of your update:
Copyright 7/3/2011 by Hawaii Information Service
NEW LISTINGS
244171 RES DT FL A 2 4-5-3-11-32 FS $1,250,000 4066 Aloalii Dr 13,511 sqft 2,784 3/2.01
243409 RES DT FL A 2 4-5-4-18-43 FS $699,000 4175 Kamalani Ln 10,499 sqft 1,748 3/2.01
241555 RES DT FL A 2 4-5-4-15-3 FS $1,449,000 3979 Kamehameha Rd 10,772 sqft 3,558 5/3.01
236140 RES DT FL A 2 4-5-4-14-26 FS $1,570,000 3925 Kamehameha Rd 20,093 sqft 3,925 4/3.01
245736 RES DT FL A 2 4-5-4-4-54 FS $8,888,888 Hanalei Plantation Rd # 5.06 ac 640 1/1.00
238655 RES DT FL T 0 4-5-4-16-40 FS $597,000 4130 Kekaulike Ln 10,500 sqft 1,625 3/2.00
BACK ON THE MARKET
235317 RES DT FL A 365 4-5-3-12-42 FS $1,195,000 4046 Aloalii Dr 8,041 sqft 1,603 #0 3/2.01
CONTINGENT SALES
243593 RES DT FL C 110 4-5-4-19-1 FS $1,145,000 4165 Liholiho Rd 25,212 sqft 3,235 3/2.01
TEMPORARILY WITHDRAWN
238655 RES DT FL T 0 4-5-4-16-40 FS $597,000 4130 Kekaulike Ln 10,500 sqft 1,625 3/2.00
This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.
I hope your weather is just as beautiful as it is here - or that you're actually here to enjoy what Mother Nature has to offer. Have a great Fourth no matter you are - and remember to email for the facts before buying or selling.
Aloha Elaine
View of Lumahai Beach from the road.
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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