Princeville condo update for the week of June 3rd to 9th

Aloha,

This past week we saw the final phase of Nihilani at Princeville entered onto the MLS. These units are either under construction or are listed pre-construction. Most new developments are sold in the presales stage, that is, the developer puts a sales office on the site and starts taking reservations for the upcoming units based on an ‘interest list.’ In the past, it was common for complexes to completely sell out in the presales stage as each phase was released. The fact that Nihilani has chosen to put what remains of their final phase on the MLS is just another sign of the buyer’s market.

Speaking of Nihilani, If you have not seen them, they are nicely upgraded and offer a total of 4 different floor plans, the first time I am aware of that so many floor plans have been offered in one complex. Two of the floor plans are townhouse style, one is one story upstairs and the other is a one story downstairs. I’ll talk further on Nihilani in a later blog.

Here is last weeks activity:

Copyright 6/09/2007 by Hawaii Information Service

NEW LISTINGS

MLS # Tp St DOM Taxkey Tnr Price Location Land area Details
196725 T A 3 4-5-4-5-3-19 FS $479,900 Princeville Paniolo #204 1,058 #204 1/2.0
196664 T A 6 4-5-4-15-21-20 FS $484,000 Sandpiper Village I #120 1,042 #120 2/2.0
196884 T A 3 4-5-4-5-18-68 FS $525,000 Puamana #19B 1,660 #19B 3/2.0
196814 T A 5 4-5-4-5-24-25 FS $657,500 Nihilani At Princeville Resort #9A 1,406 #9A 2/2.0
196762 T A 5 4-5-4-5-24-23 FS $699,200 Nihilani At Princeville Resort #8B 1,567 #8B 2/2.5
196815 T A 5 4-5-4-5-24-29 FS $730,800 Nihilani At Princeville Resort #10B 1,567 #10B 2/2.5
196761 T A 5 4-5-4-5-24-1 FS $749,000 Nihilani At Princeville Resort #1A 1,406 #1A 2/2.0
196825 T A 5 4-5-4-5-24-44 FS $839,600 Nihilani At Princeville Resort #15B 1,874 #15B 3/2.5
196828 T A 5 4-5-4-5-24-99 FS $879,400 Nihilani At Princeville Resort #33C 1,972 #33C 2/3.0
196893 T A 4 4-5-4-12-9-30 FS $899,000 Pali Ke Kua Iii #242 1,135 #242 2/2.0
196816 T A 5 4-5-4-5-24-33 FS $919,400 Nihilani At Princeville Resort #11C 1,972 #11C 2/3.0

BACK ON THE MARKET

MLS # Tp St DOM Taxkey Tnr Price Location Land area Details
180030 SH A 354 4-5-4-5-4-18 FS $350,000 Ka’eo Kai Ph I #8B 1,498 #8B 3/3.0
180015 T A 354 4-5-4-5-4-18 FS $695,000 Ka’eo Kai Ph I #8B 1,498 #8B 3/3.0

There were no CONTINGENT SALES, SALES, UNDER CONTRACT, or EXPIRED listings this week. There were however, several price changes, all which were reductions:

PRICE CHANGES

MLS # Tp St DOM Taxkey Tnr Price Location Land area Details
189724 T A 131 4-5-4-5-18-25 FS $475,000- Puamana #7B 1,532 #7B 2/2.0
163432 T A 584 4-5-4-15-21-41 FS $475,000- Sandpiper Village I #204 1,173 #204 3/2.5
180682 T A 336 4-5-4-5-18-34 FS $497,500- Puamana #9C 1,532 #9C 2/2.0
193594 T A 47 4-5-4-12-10-30 FS $579,000- Emmalani Court #423 952 #423 1/2.0
195626 T A 28 4-5-4-5-30-11 FS $580,000- Princeville Mauna Kai #F21 1,478 ##19 3/2.0
182792 T A 296 4-5-4-5-23-50 FS $619,000- Plantation At Princeville #1312 1,153 #1312 2/2.0
186761 T A 220 4-5-4-5-12-1 FS $683,000- Sealodge Ii #F1 556 #F1 1/1.0
194901 T A 42 4-5-4-5-24-85 FS $785,000- Nihilani At Princeville Resort #29A 1,874 #29A 3/2.5
188592 T A 187 4-5-4-5-24-63 FS $799,000- Nihilani At Princeville Resort #21C 1,972 #21C 2/3.0
195584 T A 33 4-5-4-6-1-44 FS $849,000- Villas Of Kamalii #44 1,825 #44 3/3.0
179527 T A 366 4-5-4-12-11-33 FS $1,895,000- Puu Poa #305 1,352 #305 2/2.0

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

What this all comes down to is, a great time to buy! You can have your choice of any number of units within any given complex for a range of prices, depending on view and location. This luxury was something buyers missed in the previous sellers market, where buyers often had to buy quickly for fear of missing out. We’re having more showings and buyers are expressing more interest in the market so don’t wait too long– yes, it is a buyer’s market and theres plenty of units available but if you want the best one– buy it now and don’t lose out.

Confused as to which unit is best? Just ask. “Best” depends on your needs ( a vacation rental, a long term rental or your new home) your price range, and what size unit you require. More on this later this week…

Aloha Elaine Schaefer

June 11th, 2007