Princeville Kauai condo (and house) update for the week of Jan 12th to Jan 18th

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

Aloha,

 

This week the hot commodity was a two bedroom Hale Honu, unit 5A; a foreclosure priced at $201,500. It caused quite a stir the first time it hit the market last September but was withdrawn from the market before going into escrow. It came back on this past week and went quickly into escrow along with a Hanalei Bay Resort unit. Take a look for yourself:

 

NEW LISTINGS

 

269883 CND A 3 4-5-3-11-1-6 FS $679,000 Villas On The Prince #6 1,737 #6 3/3.00
270096 CND A 0 4-5-4-5-18-82 FS $529,900 Puamana #22D 1,419 #22D 3/3.00
269840 CND A 3 4-5-4-5-16-34 FS $779,000 Alii Kai #4302 1,086 #4302 2/2.00

 

CONTINGENT SALES

 

266824 CND C 64 4-5-4-5-27-9 FS $201,500 Hale Honu #5A 866 #5A 2/1.00
255479 CND C 574 4-5-4-11-3-119 FS $495,000 Hanalei Bay Resort #T33 867 #2305-6 1/2.00

 

WITHDRAWN

 

261240 CND W 315 4-5-3-11-1-19 FS $688,000 Villas On The Prince #19 1,732 #19 3/3.00

 

PRICE CHANGES

 

266573 CND A 32 4-5-4-5-39-98 FS $399,000- Cliffs #4204 917 #4204 1/2.00

 

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

 

New Listings:

 

Villas on the Prince 6 returns to the market with a new price of $679K after selling for $725K in 3/05. It is one of two Villas priced in the “$600K’s.” It was previously listed from 2/12 to 8/12 for $719K and also from 11/12 to 4/13, starting at $719K and reducing to $709K.

 

One of the rare 3 bedroom 3 bath Puamana units, #22D, is now on the market priced at $529,900. This unit last sold for $58,500 as a leasehold in 6/98 then converted to fee simple in 1/01 for $38,675. It was previously listed from 3/08 to 7/08 for $644,900. Ocean front top floor Ali’i Kai 4302 would be a great vacation rental or primary residence. Purchased in 4/99 for $150K it is priced at $779K. This unit was listed before from 6/06 t0 10/08 starting at an optimistic $1.350M and reducing to $995K by the time it was withdrawn.

 

Back on the Market:

 

Bank owned Hale Honu 5A is back on the market at the low price of $201,500. It was purchased for $380K in 2/07 and foreclosed on in 5/13. It was previously on the market with multiple offers but was withdrawn on 11/13. It was only on the market a couple of days before history repeated itself with multiple offers which resulted in it going quickly into escrow, where you’ll also see it listed.

 

Contingent:

 

As noted above, Hale Honu 5A went into escrow. Hanalei Bay Resort 2305-06 priced at $495K found a buyer after 571 market days. It sold previously for $379,367 in 6/03

 

Withdrawn:

 

Villas on the Prince 19 was withdrawn from the market after 315 days with a list price of $688K. It sold previously for 6/02 for $520K.

 

Price Changes:

 

Cliffs 4204 was purchased for $300K in 8/12 and reduced from $429K to $399K.Now on to your Princeville residential update:

 

NEW LISTINGS

 

270034 RES U 282 4-5-4-16-33 FS $565,000 5020 Emmalani Dr 10,500 sqft 2,388 #0 3/3.00

 

CONTINGENT SALES

 

268665 RES C 57 4-5-4-9-16 FS $945,000 4210 Liholiho Rd 10,255 sqft 1,986 3/2.01

 

UNDER CONTRACT

 

270034 RES U 282 4-5-4-16-33 FS $565,000 5020 Emmalani Dr 10,500 sqft 2,388 #0 3/3.00

 

WITHDRAWN

 

262581 RES W 282 4-5-4-16-33 FS $565,000 5020 Emmalani Dr 10,500 sqft 2,388 #0 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 / Under Contract / Withdrawn:

 

5020 Emmalani shows up three times on this weeks report – once a new listing showing as being under contract, where you’ll also see it listed, and also under “withdrawn.” This home came on the market priced at $705 in 4/13, went into escrow a few days later, than was reduced to $565K in 7/13. It’s not unusual to see a price change during escrow of a short sale as the bank and buyer come to terms on the price. However, this escrow never closed and instead shows as withdrawn on 1/15/14, only to appear as a new listing under contract shortly thereafter. Hard to say exactly what went on but trust me, you never know what’s going on with a short sale.

 

Contingent:

 

4120 Liholiho sold in 11/11 for $639K and went into escrow this week with a list price of $945K. So how do you think the market is doing?
That’s it for Princeville home sales this week.

 

We had very relaxing massages at Touch of Kauai located above the Bank of Hawaii at the Princeville Center this past Saturday. They offer 15% Kama’aina discount which is nice. I also found a new art gallery located around the corner from the Princeville Wine Market. I didn’t have time to check it out yet but will in the future. If you haven’t been to the Princeville Center lately, make a point to visit sometime soon. There’s quite a few boutique shops and several great restaurants with something for everyone.

 

As of today, Sunday, there have been 37 sales Islandwide, however, there have already been 7 condo sales in the “Hanalei Zone” (which includes Princeville) compared to a total of 3 for last January so we're already ahead of the game. As for residential, last January in the Hanalei Zone there were 5 sales for the month. We only have one as of today. Will we surpass last January’s totals? There are 208 properties in escrow or under contract Island wide so I am betting that we will. Any real estate questions? Please text or email. That’s why I’m here. So you get the facts before buying or selling.

 

Aloha Elaine

 

IMG_4678
We have a new home going up in the neighborhood. Just looks like a normal house…

 

IMG_4679
Until you realize the location is the best lot in all of Princeville!

 

IMG_4691
Waves are crashing at the foot of the bluff.

 

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This will be their sunset view every night. I understand it will be a vacation rental. Ready to book?

Elaine Schaefer (R)
Broker in Charge
CRS, GRI, ABR, SFR
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@gmail.com
website: www.KauaiRealEstateNow.com
blog: www.activerain.com/blogs/soldonkauai

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Elaine Schaefer

R, CRS, GRI, ABR, SFR
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