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Princeville Kauai condo (and house) + short sale update for the week of May 13th to May 19th

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

Aloha,

It’s been another awesome week – and a busy one. Summer is just weeks away and buyers are already on Island – snapping up condos. We’re finally seeing some movement in Princeville homes too, now that the well priced Ka’iulanis, Villas on the Prince and Villas on Kamali’i are in escrow. These three condo complexes, along with the two larger floor plans in Nihilani, are the only ones that come close to feeling like “single family home” living. Here is your update:

Copyright ©5/20/2012 by Hawaii Information Service
NEW LISTINGS
254573 CND A 5 4-5-4-15-21-44 FS $230,000 Sandpiper #207 1,173 3/2.01
253702 CND A 4 4-5-4-5-7-13 FS $365,000 Sealodge #B5 748 2/2.00
254707 CND A 2 4-5-4-5-23-66 FS $398,999 Plantation #1712 1,153 2/2.00
254555 CND W 216 4-5-4-5-39-96 FS $299,000 Cliffs #4202 917 1/2.00

CONTINGENT SALES
251982 CND C 100 4-5-4-5-17-15 FS $224,900 Alii Kai #9G 1,037 2/2.00
252627 CND C 83 4-5-4-5-18-2 FS $255,000 Puamana #1B 1,532 2/2.00

SALES
251877 CND S 36 4-5-3-6-22-70 FS $659,000 Kaiulani #70 1,738 #70 2/2.01
SOLD 5/15/2012 for $665,000 (CASH) DOM 36

250177 CND S 133 4-5-3-11-1-39 FS $705,000 Villas On The Prince #39 1,732 3/3.00
SOLD 5/19/2012 for $682,500 (CNV) DOM 133

UNDER CONTRACT
206220 CND U 1543 4-5-3-6-22-67 FS $689,000 Kaiulani #67 1,781 2/2.01
251097 CND U 68 4-5-4-5-23-45 FS $429,000 Plantation #1211 1,153 2/2.00
251871 CND U 49 4-5-4-12-3-30 FS $659,000 Hanalei Bay Villas #30 1,364 3/2.01

WITHDRAWN
254555 CND W 216 4-5-4-5-39-96 FS $299,000 Cliffs #4202 917 1/2.00

PRICE CHANGES
253771 CND A 354 4-5-4-5-13-14 FS $395,000- Kamahana #14 1,635 #14 3/2.00
248953 CND T 23 4-5-4-5-18-53 FS $549,000- Puamana #15A 1,419 #15A 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.

Copyright ©5/20/2012 by Hawaii Information Service

New Listings:
Sandpiper 207 is new this week priced at $230K after selling for $299K in 1/03. Two bedroom Sealodge B5 is listed for a very attractive $365K and is priced less than the other one and two bedroom units currently on the market. It last sold for $220K in 12/99 and was listed before from 2/08 to 12/09, starting at $730K and reducing to $659K. Much better pricing now! Plantation 1712 is now priced at $389,999 after selling for $515K in 2/08. It was previously listed from 8/08 to 4/10, starting at $578K and reducing to $550K and again from 4/10 to 12/11 with a starting price of $515K and an end price of $409,999. Cliffs 4202 came back on the market having last expired in 9/11 while listed for $349K. Purchased in 9/07 for $590K, this unit is depicted as a successful vacation rental listed for $299K – and it comes with a nice ocean view. However, after coming back on, the unit was then withdrawn – as you’ll see later on in this report.

Back on the Market:

Contingent:
Freddie Mac foreclosure Ali’i Kai 9G went into escrow priced at $224,900. This upper floor unit was purchased for $151K in 12/99 but must have been refinanced because it was foreclosed on in 12/11. Short sale Puamana 1B went into escrow priced at $255K after selling for $405K in 4/05.
Sales:
Another of the developer’s Ka’iulani unit sold, unit 70 went for $665K cash while listed for $659K. Villas on the Prince 39 sold for $682,500 with a list price of $705K. This townhome actually yielded a positive cash flow, since it sold for $520,900 in 5/02. Nice to see more sales and condos going into escrow!

Under Contract:
Ka’iulani 67 moved closer to closing by going to under contract from contingent. This condo sold for $895K in 1/08 and came immediately onto the market priced at $1.095M. It had a gradual price decline, until reaching the current list price of $689K when it found a buyer. Plantation 1211 also moved to under contract with a list price of $429K. The last sale for this upstairs condo was $470K in 1/06. Hanalei Bay Villas, priced at $659 went from contingent to under contract and should be closing soon. It last sold for $530K in 8/03.

Withdrawn:
As noted under new listings, Cliffs 4202 was withdrawn.

Price Changes:
Kamahana 14, which last sold for $410K in 11/03, reduced minimally from $425K to $395K. Puamana 15A went down $50K, from $595K to $549K after selling for $395K in 3/11. Now on to your Princeville homes update:

Copyright ©5/20/2012 by Hawaii Information Service

NEW LISTINGS
254643 RES A 3 4-5-3-11-25 FS $995,000 4083 Aloalii Dr 7,937 sqft 2,192 3/2.01

CONTINGENT SALES
252390 RES C 73 4-5-4-21-10 FS $649,000 3836 Kaweonui Rd 10,018 sqft 2,016 3/3.00
250944 RES C 139 4-5-4-14-11 FS $955,000 3781 Keli’i Pl 14,409 sqft 1,924 3/2.00

EXPIRED
245501 RES X 359 4-5-4-10-22 FS $1,250,000 4078 Liholiho Rd 10,200 sqft 2,515 3/3.02

WITHDRAWN
245677 RES W 351 4-5-4-24-5 FS $635,000 4200 Waileia Pl 9,639 sqft 1,928 3/2.01

PRICE CHANGES
248271 RES A 257 4-5-4-21-6 FS $629,000- 3730 Albert Rd 14,367 sqft 1,985 3/3.00
252791 RES A 76 4-5-4-10-44 FS $699,000- 5348 Honoiki Rd 10,181 sqft 1,631 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.

Copyright ©5/20/2012 by Hawaii Information Service

I’m delighted to report that my Kaweonui listing is now in escrow after a $50K price reduction from $699K a couple of weeks back. Keli’i Place also went into escrow while priced at $955K. This home started out priced at $1.095M 139 days ago.

There are still some very attractive buys out there. Some need a little “sweat equity” – most may need some updating but are fine to go as they are until you get to that point. When an opportunity like this to get into a property on Kauai, specifically the North Shore, will come again, is a big unknown.

Many “wanna be” buyers stood on the sidelines in the 2000, 2001, 2002, 2003 and just watched the market run up – until finally they were priced out of any chance of ownership. If you really want to own on Kauai, there is no better time than now. The combination of pricing and interest rates has never been so low. If you’d like some help finding your perfect property or are serious about selling and would like to know what is required in this market to do so, please do not hesitate to email me. That’s why I’m here – to give you the facts and be your eyes and ears on Kauai.

Enjoy your beautiful day.

Aloha Elaine


I often see this little orange tabby curled up at the base these palms as I head to the stable.

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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