Cliffs condo analysis
It’s always fun to sit down and take a look at activity within a given condo complex. Recently, I was asked to look at the Cliffs at Princeville. I especially like to look at the starting price of a condo compared to current pricing. A couple of years back you often saw price increases with “Days on the Market” of a couple of months, if that. Now, if a seller wants to sell, lowering the price is often the ticket and “days on the market” can be extensive. I’ve attached an Excel spreadsheet showing all the whole ownership Cliffs Condos (fractionals not included) currently on the market along with the one unit in escrow and all the units that have sold since 4/1/06.
One unit, 4303, is currently in escrow. This unit came on the market at $699,000 and finally found a buyer while listed at $635,000. We won’t know the actual sales price until the sale closes and is recorded. It has a nice ocean view from the lanai which is shown below. (To see this photo along with the others associated with this property you can go to www.hawaiiinformation.com and seach MLS # 184227.
There’s another 2 bedroom unit currently on the market listed for $649,500. This unit is in building 2 which has valley and occasionally a very distant ocean view. Below is the view from this 2 bedroom unit. Additional photos can be found at the above mentioned link by entering MLS # 188728.
To understand the pricing you must know where the units are. The 4 digit Cliffs room number starts with the building number, the second number is the floor and the last two numbers are the room numbers. The room numbers run right to left as you stand facing the buildings with the first unit (ie 7201) and the last unit (7206) located on the end of the buildings. The number of units per building varies but if you are looking for 4303 it’s best to head toward the middle of building 4 and go to the top floor.
All the buildings are 3 floors. The first two floors are all 1 bedroom 2 bath units and the third floor is the same with the addition of a second loft bedroom. Now you know, whenever you see a “3″ as the second number in the unit address you are looking for a 2 bedroom unit. There are few 4 bedroom units which are basically a combination of the first and second floor units, with the downstairs kitchen and living area replaced with 2 extra bedrooms. You have 1 bedroom/ 2 baths with living area upstairs and 3 bedrooms 2 baths downstairs.
As I said once before, location within the complex is key especially if the complex has ocean and non-ocean view units as does the Cliffs. I’ve attached a site map for this complex below:
You can easily see that building 8 has exceptional ocean views, followed closely by buildings 9 and 6. Building 7 is next in location, followed by building 5 which has ocean view but sits back behind buildings 6 and 7. Building 4 has some views from an angle down Edward Road while building 3 occasionally has a tiny peak of the ocean but mainly has garden views, along with building 2 and 1, which borders Edward road. If you prefer a lush garden view, building 2 might be the one for you.
If you have questions on these or any other units, please do not hesitate to ask. You just may find your question answered as a future blog topic! If you prefer a move private venue, my email is soldonkauai@yahoo.com.
Aloha and Mahalo!
Elaine
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