Princeville condo update for the week of June 24th to 30th

Aloha,

And Happy Fourth of July! What with everyone getting ready for the holiday, there was very little condo activity this week besides some new listings and price reductions. Sellers are realizing that if they want to sell, pricing needs to be extremely competative. This is very difficult for those who purchased in 2005-2006 as they may find themselves in a losing position selling in 07.

All markets are cyclical, and we are now in a small downturn after a good runup. Like all cycles – this too will end – as a good friend of mine used to say – which is why I encourage buyers to act now, if you find a property you like. It is better to buy now when there are no competing offers than to continue to take the wait and see approach. Waiting to see if the market will go down any further is a risky business. You may discover a bit more softeness in the market but may also find you’ve waiting long enough to lose the property you really wanted and have to start your search all over again. Sellers are motivated so if you see something you want, make that offer now and get what you really want. Don’t miss a great opportunity. Having said all that, here is this weeks activity:

Copyright 7/1/2007 by Hawaii Information Service

NEW LISTINGS

MLS # Tp St DOM Taxkey Tnr Price Location Land area Details
197799 T A 2 4-5-3-11-1-10 FS $999,000 Villas On The Prince #10 1,732 #10 3/3.0
197016 T A 4 4-5-4-15-21-7 FS $464,000 Sandpiper Village I #107 1,042 #107 2/2.0
193038 T A 3 4-5-4-12-2-34 FS $580,000 Hale Moi #214 1,033 #214 1/2.0
197847 T A 2 4-5-4-12-8-24 LH $649,000 Pali Ke Kua Ii #130 1,100 #130 2/1.5

BACK ON THE MARKET

MLS # Tp St DOM Taxkey Tnr Price Location Land area Details
172114 T A 485 4-5-3-11-1-28 FS $949,000 Villas On The Prince #28 1,800 #11-28 3/3.0

SALES

MLS # Tp St DOM Taxkey Tnr Price Location Land area Details
178508 T S 358 4-5-3-11-1-23 FS $998,000 Villas On The Prince #23 1,765 #9-23 3/2.5
SOLD 6/29/2007 for $935,000 (CNV) DOM 358

152049 T S 0 4-5-3-6-22-34 FS $1,950,000 Kaiulani Of Princeville #34 2,873 #34 3/3.5
SOLD 6/29/2007 for $1,989,260 (1031, CNV) DOM 0

188069 T S 58 4-5-4-12-10-6 FS $799,000 Emmalani Court #214 1,192 #214 2/2.0
SOLD 6/28/2007 for $763,000 (CNV) DOM 58

195328 T S 99 4-5-4-6-1-22 FS $999,000 Villas Of Kamalii #22 1,825 #22 3/3.0
SOLD 6/29/2007 for $950,000 (CNV) DOM 99

PRICE CHANGES

MLS # Tp St DOM Taxkey Tnr Price Location Land area Details
172114 T A 485 4-5-3-11-1-28 FS $949,000- Villas On The Prince #28 1,800 #11-28 3/3.0
184077 T A 271 4-5-3-11-1-36 FS $950,000- Villas On The Prince #36 1,760 #36 3/3.0
195591 T A 54 4-5-4-5-27-20 FS $425,000- Hale Honu #10B 1,085 #10B 3/1.5
193146 T A 96 4-5-4-15-21-37 FS $459,000- Sandpiper Village I #137 1,042 #137 2/2.0
197351 T A 12 4-5-4-15-21-54 FS $475,000- Sandpiper Village I #217 1,173 #217 3/2.5
197467 T A 85 4-5-4-5-30-10 FS $599,000- Princeville Mauna Kai #F20 1,478 #F20 3/2.0
190979 T A 146 4-5-4-5-39-100 FS $615,000- Cliffs At Princeville #4206 917 #4206 1/2.0
193436 T A 92 4-5-4-12-11-1 FS $1,499,000+ Puu Poa #101 1,359 #101 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.

Call or email with questions. I’m here to answer them. Wishing you a sunny breezy day with blue skies warm waters.

Aloha,

Elaine Schaefer

sold@hawaii.rr.com
808 639 2935
www.kauaiforsale.com

July 1st, 2007