Princeville condo (and house) update for the week of April 6th to 12th

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

Aloha,

If you read my previous blog you know I just returned from Oahu where I attended a class geared towards obtaining my Certified Residential Specialist designation. All of the CRS classes I have taken are well worth the time and money, and this class was no exception. Let me get on with the update from last week:

Copyright 4/14/2008 by Hawaii Information Service

NEW LISTINGS
209673 T A 6 4-5-4-5-3-4 FS $385,000 Princeville Paniolo #104 1,058 #104 1/2
209599 T A 7 4-5-4-15-21-31 FS $475,000 Sandpiper Village I #131 1,042 #131 2/2
209956 T A 3 4-5-4-11-3-42 FS $1,298,000 Hanalei Bay Resort #L38 1,324 #L38 2/2
209676 T C 7 4-5-4-11-3-54 FS $1,095,000 Hanalei Bay Resort #J22 1,324 #Apt.#7203-4 2/2

BACK ON THE MARKET
208766 SH A 86 4-5-4-5-23-23 FS $165,000 Plantation At Princeville #621 1,318 #621 3/3
206100 SH A 86 4-5-4-5-23-23 FS $165,000 Plantation At Princeville #621 1,318 #621 3/3
206099 SH A 86 4-5-4-5-23-23 FS $165,000 Plantation At Princeville #621 1,318 #621 3/3
206098 SH A 86 4-5-4-5-23-23 FS $165,000 Plantation At Princeville #621 1,318 #621 3/3
206097 SH A 86 4-5-4-5-23-23 FS $165,000 Plantation At Princeville #621 1,318 #621 3/3
192590 T A 373 4-5-4-5-16-41 FS $899,000 Alii Kai At Hanalei #5201 1,086 #5201 2/2
200456 T A 222 4-5-4-12-11-14 FS $1,749,000 Puu Poa #114 2,065 #114 2/2

CONTINGENT SALES
199987 T C 241 4-5-4-6-1-35 FS $699,900 Villas Of Kamalii #35 1,815 #35 3/3
207174 T C 661 4-5-4-5-12-33 FS $925,000 Sealodge Ii #J6 754 #J6 2/2
209676 T C 7 4-5-4-11-3-54 FS $1,095,000 Hanalei Bay Resort #J22 1,324 #Apt.#7203-4 2/2

SALES
206096 SH S 10 4-5-4-5-23-23 FS $165,000 Plantation At Princeville #621 1,318 #621 3/3
SOLD 4/11/2008 for $165,000 (CASH) DOM 10

204852 T S 113 4-5-4-5-23-31 FS $649,000 Plantation At Princeville #821 1,366 #821 3/3
SOLD 4/11/2008 for $600,000 (CNV) DOM 113

EXPIRED
194100 SH X 609 4-5-4-11-3-51 FS $295,000 Hanalei Bay Resort #J13 1,324 #J13 2/2
194099 SH X 609 4-5-4-11-3-51 FS $295,000 Hanalei Bay Resort #J13 1,324 #J13 2/2
194086 SH X 609 4-5-4-11-3-51 FS $295,000 Hanalei Bay Resort #J13 1,324 #J13 2/2
194101 SH X 609 4-5-4-11-3-51 FS $350,000 Hanalei Bay Resort #J13 1,324 #J13 2/2
194098 SH X 609 4-5-4-11-3-51 FS $350,000 Hanalei Bay Resort #J13 1,324 #J13 2/2

WITHDRAWN
207194 T W 58 4-5-3-6-22-72 FS $1,295,000 Kaiulani Of Princeville #72 1,901 #72 2/2.5

PRICE CHANGES
203022 T A 171 4-5-3-11-1-30 FS $799,000- Villas On The Prince #30 1,761 #12-30 3/3
206436 T A 77 4-5-4-15-21-7 FS $399,000- Sandpiper Village I #107 1,042 #107 2/2
200357 T A 230 4-5-4-5-23-42 FS $525,000- Plantation At Princeville #1112 1,153 #1112 2/2
192528 T A 403 4-5-4-5-13-27 FS $539,000- Kamahana #27 1,265 #27 2/2
197847 T A 290 4-5-4-12-8-24 LH $575,000- Pali Ke Kua Ii #130 1,100 #130 2/1.5
204622 T A 123 4-5-4-12-8-28 FS $799,000- Pali Ke Kua Ii #232 993 #232 2/2
196893 T A 312 4-5-4-12-9-30 FS $849,000- Pali Ke Kua Iii #242 1,135 #242 2/2

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

Paniolo 104 is no newcomer to the market. This unit, purchased in 9/03 for $240K and currently listed for $385K, has been on the market several times in the past. It was first listed from 5/05 to 8/05 for $475K, then from 9/05 to 1/06 at $435K, 5/06 to 6/06 for $419K with the most recent listing period from 12/06 to 12/07 for $395,224. This seller appears to be motivated to sell since the list price has come down and stayed down each new listing. Let's see what happens this time.

Sandpiper 131 is also no stranger to the market. The sellers paid $110K for this unit in 4/01, and previously listed it for $525K from 4/05 to 9/05 and again listed it from 9/05 to 4/06 for $539K. With a price tag of $475K, based on current listings and sales they are still quite a bit above the market. Here are what is currently listed in Sandpiper:

Copyright 4/12/2008 by Hawaii Information Service

206436 T A 74 4-5-4-15-21-7 FS $399,000 Sandpiper Village I #107 1,042 #107 2/2
209209 T A 11 4-5-4-15-21-32 FS $399,000 Sandpiper Village I #132 1,042 #132 2/2
198214 T A 257 4-5-4-15-21-15 FS $429,000 Sandpiper Village I #115 1,042 #115 2/2
205685 T A 93 4-5-4-15-21-21 FS $439,000 Sandpiper Village I #121 1,042 #121 2/2
199242 T A 254 4-5-4-15-21-8 FS $440,000 Sandpiper Village I #108 1,042 #108 2/2
196998 T A 304 4-5-4-15-21-43 FS $460,000 Sandpiper Village I #206 1,173 #206 2/2.5
209599 T A 4 4-5-4-15-21-31 FS $475,000 Sandpiper Village I #131 1,042 #131 2/2
205596 T A 90 4-5-4-15-21-30 FS $480,000 Sandpiper Village I #130 1,042 #130 2/2
203239 T A 161 4-5-4-15-21-34 FS $535,000 Sandpiper Village I #134 1,042 #134 2/2
202357 T A 170 4-5-4-15-21-73 FS $535,000 Sandpiper Village I #236 1,173 #236 2/2.5
181966 T A 616 4-5-4-15-21-50 FS $549,999 Sandpiper Village I #213 1,173 #213 3/2.5

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

These are sales since 1/1/07. Don't forget to check if the unit is a larger upstairs unit when comparing pricing:

Copyright 4/12/2008 by Hawaii Information Service

198541 T S 101 4-5-4-15-21-5 FS $360,000 Sandpiper Village I #105 1,042 #105 2/2
SOLD 12/5/2007 for $340,000 (CASH) DOM 101

193146 T S 161 4-5-4-15-21-37 FS $409,000 Sandpiper Village I #137 1,042 #137 2/2
SOLD 10/11/2007 for $379,000 (CNV) DOM 161

163432 T S 732 4-5-4-15-21-41 FS $460,000 Sandpiper Village I #204 1,173 #204 3/2.5
SOLD 12/18/2007 for $450,000 (1031, CNV) DOM 732

193251 T S 1 4-5-4-15-21-25 FS $499,000 Sandpiper Village I #125 1,042 #125 2/2
SOLD 5/23/2007 for $499,000 (1031) DOM 1

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

Mauna Kai F6 for $499K is back on the market after having been listed a few weeks ago for 8 days before it was withdrawn. This condo was purchased in 11/04 for $431,650. Moving right along to Hanalei Bay Resort unit L38- this unit has not been on the market since it was purchased in 4/99 for $250K and is the only really "new" listing this week. Hanalei Bay Resort unit J22 shows as a new listing also but was actually previously on the market several different times: once from 9/04 to 1/05 for $975K, again from 10/05 to 1/06 for $1.495M and then from 11/06 to 9/07 for $1.195M. Each time it was withdrawn but it appears to have found a buyer, as you'll see it also listed under contingent sales.

We have several units which had expired back on the market this week. Plantation 621 at $165K is a fractional offering; Ali'i Kai 5201 came back on listed at the same price it was before as did Pu'u Po'a 114 at $1.749M.

It's nice to see a few of our 146 condo listings (yes, you heard me right, there are 146 units on the market and that does not even include the fractional offerings!) go into escrow. Villas of Kamali'i #35 is in escrow for the second time. It previously went into escrow on 3/7/08 but came right back on the market 3/12/08. As you may recall, this is a short sale and is very attractively priced. Sealodge J6 listed at $925K for the last 662 days (yes, that number too is correct! It has been on the market all that time with no price reductions!) finally found a buyer. It will be very interesting to see what this property closes at. It was purchased way back in 11/78 for $62K which was a lot of money back then! And of course, you see the Hanalei Bay Resort unit J22 in escrow as mentioned under the new listings.

We even had some sales this week. A fractional share in Plantation unit 621 closed for $165K. This unit was purchased for $550K in 8/05. Also closing is another Plantation unit # 821 which started out at $699K in an effort to yield the seller some capital gains but was reduced and finally closed for less than the seller paid for it in 12/05 which was $620K. Another tax deduction.

Ka'iulani #72 which was purchased in 4/07 for $857,270 was withdrawn from the market after efforts to find a buyer at $1.295M failed.

In the catagory of price reductions, first up is Villas on the Prince #30 which has been as high as $935K and just reduced this week from $815K to $799K. Way to go! This condo was purchased in 3/04 for $565K. Sandpiper 107 is another unit showing motivation to sell. With only 74 days on the market, this unit, which started at a respectable $419K has dropped to $399K. Don't forget about the upstairs Sandpiper 216 which went quickly into escrow listed for $399K. Unit 107 was purchased in 9/04 for $365K. Plantation 1112 is the buy of the week in my opinion. Down to $525K from $550, and an all time high of $629K, this seller is really getting down to business. These are the two Plantation sales for 08:

Copyright 4/12/2008 by Hawaii Information Service

183283 T S 522 4-5-4-5-23-66 FS $578,000 Plantation At Princeville #1712 1,153 #1712 2/2
SOLD 2/19/2008 for $515,000 (CNV) DOM 522

204852 T S 113 4-5-4-5-23-31 FS $649,000 Plantation At Princeville #821 1,366 #821 3/3
SOLD 4/11/2008 for $600,000 (CNV) DOM 113

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

Bear in mind that the Plantation unit 1712 which sold for $515K was a short sale which usually brings in a lower price than a "normal' sale. (whatever that is!) At $525K, unit 1112 represents good value for the dollar in my book especially when you look back at the Sandpiper listings and realize some of these are more than the much much newer Plantation!

Next we have Kamahana #27 which has just seen it's first price reduction after 400 days on the market! This unit started at $569K and reduced to $539K, having been purchased in 4/04 for $395K. With that many days on the market, a $30K price reudciton may not be quite enough to create buyer interest.

And finally we have all the Pali Ke Kua's coming down (finally) at once. PKK 130 which is leasehold dropped to $575K from $599K with a purchase price of $429K in 3/06. PKK 232, which started at $869K, decreased this week from $849K to $799K which is more in keeping with recent sales. This condo sold for $650K in 9/04. Rounding out the PKK price reductions is unit 242 which has an all time high of $899K, reducing from $860K to $849K, still well ahead of the rest of the pack. This unit sold for $555K in 5/04. Here's how the PKK's stack up now in terms of active listings:

Copyright 4/12/2008 by Hawaii Information Service

174822 T A 680 4-5-4-12-9-28 LH $350,000 Pali Ke Kua Iii #238 993 #238 1/1.5
197847 T A 287 4-5-4-12-8-24 LH $575,000 Pali Ke Kua Ii #130 1,100 #130 2/1.5
208668 T A 22 4-5-4-12-5-28 LH $635,000 Pali Ke Kua Incr I, ii, iii #210C 1,127 #210C 2/2
204622 T A 120 4-5-4-12-8-28 FS $799,000 Pali Ke Kua Ii #232 993 #232 2/2
196893 T A 309 4-5-4-12-9-30 FS $849,000 Pali Ke Kua Iii #242 1,135 #242 2/2
194640 T A 313 4-5-4-12-9-27 FS $890,000 Pali Ke Kua Iii #237 1,135 #237 2/2
173096 T A 754 4-5-4-12-9-24 FS $895,000 Pali Ke Kua Iii #234 1,135 #234 2/2
203728 T A 139 4-5-4-12-5-20 FS $1,500,000 Pali Ke Kua Incr I, ii, iii #202C 1,127 #202C 2/2

We have one Hanalei Bay / Bali Hai View unit in escrow, listed at a surprising $1.1M:

208063 T C 70 4-5-4-12-5-11 FS $1,100,000 Pali Ke Kua Incr I, ii, iii #111A 717 #111A 1/1

These are PKK sales since 8/1/07:

Copyright 4/12/2008 by Hawaii Information Service

168753 T S 605 4-5-4-12-5-5 FS $795,000 Pali Ke Kua Incr I, Ii, Iii #105A 717 #105A 1/1
SOLD 8/31/2007 for $795,000 (1031) DOM 605

198742 T S 50 4-5-4-12-9-25 FS $799,000 Pali Ke Kua Iii #235 1,135 #235 2/2
SOLD 10/10/2007 for $755,000 (CNV) DOM 50

197296 T S 87 4-5-4-12-8-5 FS $825,000 Pali Ke Kua Ii #119 763 #119 1/1
SOLD 10/26/2007 for $807,500 (1031) DOM 87

199483 T S 142 4-5-4-12-9-15 FS $825,000 Pali Ke Kua Iii #136 1,135 #136 2/2
SOLD 10/23/2007 for $756,000 (CNV) DOM 142

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

And that concludes your condo update for this past week. It's about time that I finally got it published!

This is your Princeville home update for the week:

Copyright 4/12/2008 by Hawaii Information Service

NEW LISTINGS
209931 RS A 5 4-5-4-18-22 FS $749,000 4163 Kalani Pl 9,802 sqft 1,755 2/2
209663 RS A 4 4-5-4-17-42 FS $839,000 4824 Victoria Loop 11,429 sqft 1,281 3/2
209942 RS A 5 4-5-4-8-9 FS $1,750,000 3887 Punahele Rd 11,139 sqft 3,246 4/3
209908 RS A 3 4-5-4-8-45 FS $2,295,000 5063 Kapiolani Lp 22,745 sqft 3,636 4/3.5
209903 RS A 3 4-5-4-8-42 FS $2,495,000 5073 Kapiolani Lp 23,160 sqft 3,693 3/3.5
209612 RS A 6 4-5-4-4-45-2 FS $6,995,000 4901 Hanalei Plant Rd 24,799 sqft 2,482 3/3.5

PRICE CHANGES
168524 RS A 866 4-5-4-22-4 FS $735,000+ 4087 Nalani Ln 11,244 sqft 1,424 3/2
202850 RS A 176 4-5-4-20-31 FS $999,000- 5141 Kapi'olani Loop 9,669 sqft 2,262 5/3
206607 RS A 842 4-5-4-19-19 FS $1,295,000+ 5086 Napo'okala Cir 15,326 sqft 2,206 3/3
205193 RS A 111 4-5-4-14-31 FS $1,595,000- 3885 Kamehameha Rd 12,127 sqft 2,372 4/3
192009 RS A 414 4-5-4-10-27 FS $1,599,000- 5222 Honoiki Rd 10,174 sqft 2,860 3/4

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

You might notice that no homes went into escrow or sold during this week yet 6 new properties came onto the market and 5 had price changes. The two homes, Nalani and Napookala that saw a price increase are both owned by a real estate agent. Remember, if you want a history on any property Islandwide just call or email.

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!

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Location:
Hawaii Kauai County Princeville
Tags:
hawaii
hawaii real estate
kauai
princeville
hawaii condos
kauai condos
kauai real estate
princeville condos princeville real estate

Post a Comment
Spam prevention
Spam prevention
Post a Comment
Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
289,445

Elaine Schaefer

R, CRS, GRI, ABR, SFR
Ask me a question
*
*
*
*
Spam prevention