Sometimes it's just a matter of timing....Puamana and Nihilani update

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

Real estate agents always talk "price" first and foremost, but sometimes it really is just a matter of timing. Case in point: Puamana 22C listed for $419K went into escrow the other day with only 16 days on the market. The thing about it is, this unit was previously listed from 5/07 to 10/07 during which time it went from a start price of $510K down to a low of $410K - less than what it was listed for this time. At one point, the seller was even willing to pay $7K of closing costs, yet the unit languished and the seller finally withdrew it. Apparently, the timing was just not right the first time around.

Speaking of timing, you have another chance at a great buy, one that I cannot believe is back on the market. I've commented many times about Nihilani 21C. This is a single level, upstairs unit consisting of 2 bedrooms, 3 baths and 1973 sqft. The family room can easily be converted to a third bedroom. This unit was purchased in 10/06 for $844,795 and at with a list price of $699,750, offers an excellent opportunity to get into a brand new, never lived in unit with stainless steel appliances and granite slab countertops. Bear in mind, it is a short sale and as such, can take anywhere from 45 days or longer for lender approval - but in my opinion, it is worth the wait if you can do it. Unfortunately, timelines were not met and the previous buyer could not wait any longer and cancelled the escrow. Hopefully the timing is right for this unit to find a buyer willing to go the distance for a great buy.

These are the Nihilani sales since 1/1/07: Check the square footage as you go through the sales prices:
SOLD
187342 T S 85 4-5-4-5-24-89 FS $675,000 Nihilani At Princeville Resort #30B 1,406 #30B 2/2
SOLD 3/29/2007 for $615,000 (CNV) DOM 85

193090 T S 0 4-5-4-5-24-20 FS $685,000 Nihilani At Princeville Resort #7B 1,476 #7B 2/2
SOLD 4/27/2007 for $685,000 (CNV) DOM 0

194901 T S 127 4-5-4-5-24-85 FS $739,900 Nihilani At Princeville Resort #29A 1,874 #29A 3/2.5
SOLD 9/20/2007 for $710,000 (1031) DOM 127

As you can see, only two of these were not developer's sales. Here is what's currently on the market: Again take a good look at square footage as you go through the list:

Copyright 3/13/2008 by Hawaii Information Service

207326 T A 28 4-5-4-5-24-62 FS $600,000 Nihilani At Princeville Resort #21B 1,400 #21B 2/2
208089 T A 14 4-5-4-5-24-43 FS $650,000 Nihilani At Princeville Resort #15A 1,406 #15A 2/2
207652 T A 15 4-5-4-5-24-25 FS $659,200 Nihilani At Princeville Resort #9A 1,406 #9A 2/2
208287 T A 8 4-5-4-5-24-80 FS $699,000 Nihilani At Princeville Resort #27B 1,567 #27B 2/2.5
200674 T A 194 4-5-4-5-24-4 FS $699,200 Nihilani At Princeville Resort #2A 1,406 #2A 2/2
207651 T A 15 4-5-4-5-24-29 FS $699,200 Nihilani At Princeville Resort #10B 1,567 #10B 2/2.5
188592 T A 463 4-5-4-5-24-63 FS $699,750 Nihilani At Princeville Resort #21C 1,972 #21C 2/3
200223 T A 202 4-5-4-5-24-40 FS $769,000 Nihilani At Princeville Resort #14A 1,874 #14A 3/2.5
201267 T A 178 4-5-4-5-24-87 FS $785,000 Nihilani At Princeville Resort #29C 1,874 #29C 3/2.5
200673 T A 194 4-5-4-5-24-21 FS $812,200 Nihilani At Princeville Resort #7C 1,972 #7C 3/3
207389 T A 15 4-5-4-5-24-44 FS $819,200 Nihilani At Princeville Resort #15B 1,874 #15B 3/2.5
194193 T A 337 4-5-4-5-24-39 FS $835,000 Nihilani At Princeville Resort #13C 1,874 #13C 3/2.5
207650 T A 15 4-5-4-5-24-99 FS $849,200 Nihilani At Princeville Resort #33C 1,972 #33C 2/3

Any questions, give me a call or email me. If you want to make an offer call me 24/7! I'm hoping the timing is right for 21C to go FAST!

Aloha Elaine

Elaine Schaefer (R, GRI, ABR)
Broker in Charge - Princeville Resort Office
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

......you can have your own piece of paradise
ask me how!

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Elaine Schaefer

R, CRS, GRI, ABR, SFR
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