Princeville condo (and house) update for the week of December 28th to January 3rd

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

Hau'oli Makahiki Hou! In other words, Happy New Year. We've been having a pretty wet winter so far, at least up here on the North Shore. It's fun to watch wave after wave of rain come in off the ocean. It's almost like it's prepackaged. You see it coming, then you hear it travel over the condo roof, and finally you can watch it move across the parking lot from the back lanai. Or, it may come the opposite direction from the mountains out to the sea. Either way, we're getting more than our share of wet weather.

2009 ushers in a new year for Real Estate, one which I think will make many buyers very happy. Sellers may still have to come to terms with pricing but for those that are willing to price attractively, the buyers will come. On to your update:

Copyright 1/3/2009 by Hawaii Information Service

NEW LISTINGS
219471 T A 3 4-5-4-12-2-39 FS $539,000 Hale Moi #219 1,033 #219 1/2
219472 T A 3 4-5-4-5-7-18 FS $567,000 Princeville Sealodge #B10 566 #B10 1/1
219389 T A 3 4-5-4-5-7-18 FS $567,000 Princeville Sealodge #B10 566 #B10 1/1

BACK ON THE MARKET
173568 T A 996 4-5-4-5-17-15 FS $450,000 Alii Kai Ii Hanalei #9G 1,037 #9G 2/2
209061 T A 262 4-5-4-12-2-6 FS $450,000 Hale Moi #106 1,033 #106 2/2
200484 T A 492 4-5-4-5-39-169 FS $795,000 Cliffs At Princeville #7305 1,137 #7305 2/2
214777 T A 144 4-5-4-11-3-13 FS $1,125,000 Hanalei Bay Resort #C15 aka #4104/5/6 1,705 #C15 3/3

EXPIRED
216880 T X 79 4-5-4-12-10-24 FS $526,900 Emmalani Court #412 1,192 #412 2/2
214999 T X 524 4-5-4-5-4-14 FS $570,000 Ka'eo Kai Ph I #4B 2,100 #4B 3/2
212901 T X 169 4-5-4-5-16-37 FS $849,000 Alii Kai At Hanalei #5101 1,086 #5101 2/2
211974 T X 210 4-5-4-5-52-1 FS $1,495,000 Orchid Point #A 1,477 #A 2/2.5
211994 T X 211 4-5-4-5-52-2 FS $1,525,000 Orchid Point #B 1,435 #B 2/2.5
205418 T X 362 4-5-4-12-11-37 FS $2,245,000 Puu Poa #309 1,352 #309 2/2

WITHDRAWN
214173 T W 154 4-5-4-12-2-34 FS $439,000 Hale Moi #214 1,033 #214 1/2
216775 T W 72 4-5-4-15-21-54 FS $499,000 Sandpiper Village I #217 1,173 #217 2/2.5
217299 T W 65 4-5-4-12-10-11 FS $570,000 Emmalani Court #224 1,192 #224 2/2

PRICE CHANGES
206436 T A 341 4-5-4-15-21-7 FS $329,000- Sandpiper Village I #107 1,042 #107 2/2
209061 T A 262 4-5-4-12-2-6 FS $450,000+ Hale Moi #106 1,033 #106 2/2
186493 T A 799 4-5-4-5-17-55 FS $489,999- Alii Kai Ii Hanalei #14G 1,037 #14G 2/2
208369 T A 303 4-5-4-5-39-127 FS $525,000- Cliffs At Princeville #5205 917 #5205 1/2
210999 T A 240 4-5-4-12-10-42 FS $549,900- Emmalani Court #525 1,456 #525 2/2
210873 T A 187 4-5-4-5-16-52 FS $699,000- Alii Kai At Hanalei #7101 886 #7101 2/2
216008 T A 99 4-5-4-12-11-47 FS $1,350,000- Puu Poa #405 1,800 #405 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.

First up is Hale Moi 219 listed at $539K. This unit last sold for $493K in 3/05. Last year, only one Hale Moi changed hands: unit 220 sold in 3/08 for $500K after being listed at $575K. There are a total of 5 Hale Moi units on the market, with 219 priced the highest. Here are the Hale Moi units on the market:

Copyright 1/4/2009 by Hawaii Information Service

210522 T A 253 4-5-4-12-2-16 FS $419,000 Hale Moi #116 1,033 #116 1/2
209061 T A 263 4-5-4-12-2-6 FS $450,000 Hale Moi #106 1,033 #106 2/2
204020 T A 402 4-5-4-12-2-28 FS $495,000 Hale Moi #208 1,033 #208 2/2
193722 T A 636 4-5-4-12-2-35 FS $529,000 Hale Moi #215 1,033 #215 1/2
219471 T A 4 4-5-4-12-2-39 FS $539,000 Hale Moi #219 1,033 #219 1/2

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

The next new listing is Sealodge B10 listed for $567K and purchased for $530K in 4/05. For some reason, it shows as entered twice into the MLS with identical information. Not sure why. There's quite a price range in the Sealodge units currently on the market:

Copyright 1/4/2009 by Hawaii Information Service

210590 T A 251 4-5-4-5-7-9 FS $499,000 Sealodge #B1 566 #B1 1/1
208790 T A 250 4-5-4-5-7-11 FS $499,999 Sealodge #B3 570 #B3 1/1
219472 T A 4 4-5-4-5-7-18 FS $567,000 Sealodge #B10 566 #B10 1/1
219389 T A 4 4-5-4-5-7-18 FS $567,000 Sealodge #B10 566 #B10 1/1
213025 T A 191 4-5-4-5-12-28 FS $615,000 Sealodge Ii #J1 754 #J1 2/2
207020 T A 321 4-5-4-5-7-13 FS $659,000 Sealodge #B5 748 #B5 2/2
186761 T A 793 4-5-4-5-12-1 FS $660,000 Sealodge Ii #F1 556 #F1 1/1
208778 T A 295 4-5-4-5-12-6 FS $695,000 Sealodge Ii #F6 567 #F6 1/1
214768 T A 144 4-5-4-5-12-35 FS $728,000 Sealodge Ii #J8 743 #J8 2/2
210501 T A 214 4-5-4-5-7-34 FS $749,000 Sealodge #D5 570 #D5 1/1
209200 T A 284 4-5-4-5-7-5 FS $750,000 Sealodge #A5 564 #A5 1/1
215650 T A 118 4-5-4-5-12-2 FS $999,900 Sealodge Ii #F2 567 #F2 1/1

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

This is what sold in Sealodge in 08:

Copyright 1/4/2009 by Hawaii Information Service

206801 T S 72 4-5-4-5-7-48 FS $759,000 Sealodge #E10 633 #E-10 1/1
SOLD 6/3/2008 for $720,000 (CASH) DOM 72

207174 T S 657 4-5-4-5-12-33 FS $925,000 Sealodge Ii #J6 754 #J6 2/2
SOLD 5/14/2008 for $695,000 (CNV) DOM 657

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

Take note of the second unit, J6, that was listed at $925K for a whopping 657 days before coming down to $695K to make the sale. There are no Sealodge units currently in escrow.

Several units are back on the market after expiring. Ali'i Kai 9G, which last sold for $151K in 12/99 came back on the market at the same price it was before. This unit reduced to $450K on 6/08 and was on the market for over 996 days. Hale Moi 106 has a purchase price of $485K in 10/05 and came back on the market at $325K down from $524K. It was immediately increased to $450K which is what you'll see in the price change section of this report. Cliffs 7305 is back on the market at $795K and last sold for $242K in 8/00. Hanalei Bay Resort sold for $950K in 6/08 and is back on the market at $1.125M. When the current owners bought this unit, it was originally priced at $1.350M in 1/08, reduced to $1.2M in 3/08, then to $995K in 5/08 after which it went into escrow 7 days later. It closed at $950K. Now they are asking someone to pay that which they themselves would not pay just 6 months ago.

Several other units expired this past week: Emmalani Court 412, taken over as a bank REO, was purchased in 2/06 for $775K. It shows the bank took it over showing a loan amount of $726,577 in 8/08. Ka'eo Kai 4B, purchased in 6/06 for $635K expired listed at $570K. Ali'i Kai 5101, purchased for $595K in 5/04 expired listed at $849K. The next two expired units are new construction and were listed at $1.495 for Orchid Point unit A and $1.525M for Orchid Point Unit B. Our final expiration is Pu'u Poa 309 which was listed at $2.245M and purchased for $1,730,338 in 9/05.

Hale Moi 214, purchased for $606,500 in 5/06 was withdrawn from the market after 154 market days, listed at $439K. Sandpiper 217, listed at $499K and purchased for $310K in 2/04 was withdrawn after only 72 market days while Emmalani Court 224 was only on the market 65 days when it was withdrawn listed at $570K. This unit last sold for $670K in 4/05.

On to your favorite section: Price changes. Sandpiper 107, which sold for $365K in 9/04 reduced from $399K to $329K. Hale Moi 106 was discussed under "back on the market" - it went from $325K to $450K. Ali'i Kai 14G reduced from $499,999 to $489,999. This unit sold for $583K in 8/05. Cliffs 5205, went from $600K to $525K (now that's what I call a price reduction) and last sold in 6/05 for $600K. Emmalani Court 525, purchased for $400K in 1/03 went from $574,900 to $549,900. Ali'i Kai 7101 reduced from $719K to $699K and sold for $625K in 4/07. Our final reduction is Pu'u Poa 405, a top floor unit, which reduced from $1.590M to $1.350K and sold for $430K (remember those days?) in 1/00.

On to your Princeville Home Update:

Copyright 1/3/2009 by Hawaii Information Service

NEW LISTINGS
219545 RS A 1 4-5-4-22-26 FS $665,000 4372 Emmalani Dr 11,390 sqft 1,294 3/2
219388 RS A 3 4-5-4-7-12 FS $1,848,000 3912 Namakeha Loop 10,055 sqft 2,300 3/3

BACK ON THE MARKET
189321 RS A 724 4-5-4-20-33 FS $1,150,000 3975 Punahele Rd 9,979 sqft 1,960 3/2.5

EXPIRED
188351 RS X 702 4-5-4-17-2 FS $850,000 4959 Emmalani Dr 10,875 sqft 2,682 4/4.5
203900 RS X 406 4-5-4-14-26 FS $2,150,000 3925 Kamehameha Rd 20,093 sqft 3,925 4/3.5

WITHDRAWN
213887 RS W 152 4-5-3-12-4 FS $2,195,000 4035 Aloalii Dr 9,415 sqft 3,407 3/3
212423 RS W 201 4-5-4-13-77 FS $1,499,000 3652 Albert Rd 11,072 sqft 2,016 4/2.5

PRICE CHANGES
217261 RS A 72 4-5-4-22-4 FS $629,000- 4087 Nalani Ln 11,244 sqft 1,424 3/2

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

This last house, Nalani Lane, has been listed as high as $975K in 11/05 and has pretty much been on the market since that time. This recent reduction was just to get it back on the update list again as it only reduced $1000 from $630K to $629K. That's it for this week. Again, I wish you a very Happy New Year filled with the real estate of your dreams (whether you are buying or selling) happiness, health and prosperity. Please remember to call or email when you are ready to buy or sell to get the facts and all the background.

Aloha Elaine

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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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