Princeville house update for the week of March 30th to April 6th

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

Aloha,

Here is your house update for this past week:

Copyright 4/6/2008 by Hawaii Information Service

NEW LISTINGS
209485 SH A 2 4-5-4-15-3 FS $395,000 3979 Kamehameha Rd 10,772 sqft 3,558 5/3.5
209478 RS A 5 4-5-4-16-40 FS $799,000 4130 Kekaulike Ln 10,500 sqft 1,625 3/2
209601 RS A 2 4-5-4-23-55 FS $825,000 3781 Milimakani Pl 7,187 sqft 1,295 3/2
208360 RS A 3 4-5-4-25-4 FS $4,200,000 5174 Hanalei Plantation 16,307 sqft 4,215 2/3

CONTINGENT SALES
192103 RS C 398 4-5-4-24-5 FS $760,000 4200 Waileia Pl 9,639 sqft 1,928 3/2.5

SALES
189932 RS S 393 4-5-4-18-17 FS $679,000 4725 Emmalani Dr 10,248 sqft 1,388 2/2
SOLD 3/31/2008 for $620,000 (CNV) DOM 393

205270 RS S 72 4-5-4-23-53 FS $849,000 3785 Milimakani Pl 7,812 sqft 1,678 3/2
SOLD 4/2/2008 for $800,000 (CASH) DOM 72

195521 RS S 269 4-5-4-15-3 FS $1,350,000 3979 Kamehameha Rd 10,772 sqft 3,425 5/3.5
SOLD 4/1/2008 for $1,236,100 (1031, CNV) DOM 269

EXPIRED
201776 RS X 183 4-5-4-8-19 FS $1,095,000 5056 Kamamalu Loop 11,472 sqft 1,907 3/2

PRICE CHANGES
197400 RS A 291 4-5-3-11-46 FS $1,995,000- 4140 Aloalii Dr 18,188 sqft 3,469 3/3
200833 RS A 194 4-5-4-16-6 FS $649,500- 5035 Emmalani Dr 10,500 sqft 1,599 2/2
207318 RS A 51 4-5-4-10-10 FS $699,000- 4115 Kekuanao'a Ln 9,969 sqft 1,228 3/1.75
168524 RS A 857 4-5-4-22-4 FS $720,000+ 4087 Nalani Ln 11,244 sqft 1,424 3/2
206607 RS A 833 4-5-4-19-19 FS $1,095,000+ 5086 Napo'okala Cir 15,326 sqft 2,206 3/3

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

Please note that the new 3979 Kamehamaha listed is for a fractional share of 60 days and not the "whole house." 4120 Kekualike is a nicely upgraded, well maintained house which is listed by the owner / agent for $799K. It was previously listed for $898,900 from 10/06 to 5/07 and again from 7/07 to 12/07 for the same price. At $799K, this home has a lot to offer and is pretty much in move in condition.

Waileia Place finally went into escrow listed at $760K as a short sale. You may remember that this golf course home was drastically reduced down to $699K after being as high as $999,995. When it hit $699K as a short sale, there was a lot of interest, causing the lender to rethink their strategy, at which point they priced it back up to $899K where it sat until it was reduced back down to $760K. This home has only been on the market 398 days.

On the sale side of things, it looks like 4725 Emmalani Drive only closed $59K off it's list price of $679K, with a sale price of $620K, but no! This home was originally priced at $879K. This home had the unique feature of having a full room spa adjacent to the master bedroom. The location at the end of Emmalani is good but the floor configuration had appeal to only a few. 3979 Kamehameha is a beautiful home with top of the line everything. This home started out at $1.689M but it was only while listed at $1.350M that it found a buyer and closed for $1,236,100.

In price reductions, we have 4140 Aloali'i which started out at $1.989M, then moved up to $2.190M before reducing back down to $1.995M this week. 5035 Emmalani Drive is a home which needs work which is why it started out at $690K, before reducing to $699K and again reducing this week for $649,500. If you are someone who can do their own work, there are several great homes available in Princeville at this time. Another one is 4115 Kekuanao'a which came on the market 51 days ago at $750K and just reduced down to $699K. This older home, built in 1984 shows pride of ownership throughout. It's in need up updating and could use a full second bath but the basic floor plan with vaulted ceilings is great and the location is even better. The land was purchased in 3/76 for $22K. Finally, we have Nalani Lane, up from $685K to $720K and 5086 Napo'okala Circle, up from $995K to $1.095. Both of these homes are owned by a real estate agent, although only one, Nalani, is represented by the owner. The seller recently gave his Napo'okala listing to an in house agent to handle it for them. Both homes have substantial market time, Nalani with 857 DOM and Napo'okala with 833 DOM and both have seen price changes up and down too many times to mention. Napo'okala is listed as a short sale, although the original purchase price was $648K in 9/03. I can only assume some additional financing has taken place on this property.

As you know, I don't always get into the analysis of homes, but this weekend I had the time to do so, and selected a few on which to comment. Pleaes let me know if you have interest in a particular property and I'll do the same research for your selection.  In the meantime, enjoy the trades and sunny skies. 

A hui ho kakou (until we meet again)

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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