The buy of the day for 9-20-07
Nihilani at Princeville is one of the newer condo complexes in Princeville, in fact, the developer still has unsold units available. This complex has four different floor models, the most popular being the townhouse style Makani with 3 bedrooms, 2.5 baths and 1,874 sqft. 2005 marked the first release of these unit with Makani as low as $688,000. This was for your basic townhouse with no upgrades, just granite tile kitchen countertops, standard appliances (does not include the refrigerator) and cultured marble sinks in the bathrooms.
Flash forward to September 20, 2007 where one lucky buyer purchased Nihilani unit 29A, a totally upgraded, fully furnished Makani unit for only $710K earning it my vote for the best buy of the day! This unit was upgraded with travertine floors, granite slab counters, stainless steel appliances, cherry wood cabinets, plantation shutters and ceiling fans.
If you want to follow the in the footsteps of a motivated, serious seller, take a look at this unit. It came on the market on 4/29 at $869K, reduced to $785K on 6/8, and reduced again on 6/14 to $775K, at which point it went into escrow shortly thereafter. Unfortunately for that buyer, it came back on the market in short order, and was once again reduced to $750 on 8/21, reaching it’s final reduction on 8/24 of $739,900. It went into escrow on 9/4 and closed very quickly as a 1031 exchange for $710K.
Some sellers reduce a little, wait a lot and then wonder why their property isn’t selling. I received an email recently from a seller, telling me her unit was on the market, that she’d reduced it but it hadn’t yet sold. She wondered why. One look told the story. She started too high and her reduction still had her well above recent sales. She seemed to think that she should be rewarded with a buyer just for reducing, never mind that her unit was overpriced before and after the reduction. This Nihilani seller, reduced, then reduced again and kept right on going over a period of just 4 months until they found their buyer. The sad news is the seller paid $790,910 for this unit on 7/2006. The good news is, one buyer just got one great buy!
Take a look at the pricing of the remaining Makani units currently on the market and you’ll see what I mean:
MLS DATA
200223 T A 28 4-5-4-5-24-40 FS $809,000 Nihilani At Princeville Resort #14A 1,874 #14A 3/2.5
194193 T A 162 4-5-4-5-24-39 FS $835,000 Nihilani At Princeville Resort #13C 1,874 #13C 3/2.5
196825 T A 106 4-5-4-5-24-44 FS $839,600 Nihilani At Princeville Resort #15B 1,874 #15B 3/2.5
198480 T A 59 4-5-4-5-24-13 FS $850,000 Nihilani At Princeville Resort #5A 1,874 #5A 3/2.5
201267 T A 3 4-5-4-5-24-87 FS $869,900 Nihilani At Princeville Resort #29C 1,874 #29C 3/2.5
186775 T A 307 4-5-4-5-24-58 FS $885,000 Nihilani At Princeville Resort #20A 1,874 #20A 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 the smaller two bedroom units (two different models, one story Moana and the townhouse style Hoku) currently available:
MLS DATA
190750 T A 232 4-5-4-5-24-62 FS $630,000 Nihilani At Princeville Resort #21B 1,400 #21B 2/2.0
196814 T A 106 4-5-4-5-24-25 FS $657,500 Nihilani At Princeville Resort #9A 1,406 #9A 2/2.0
198758 T A 62 4-5-4-5-24-8 FS $699,000 Nihilani At Princeville Resort #3B 1,567 #3B 2/2.5
196762 T A 106 4-5-4-5-24-23 FS $699,200 Nihilani At Princeville Resort #8B 1,567 #8B 2/2.5
200674 T A 19 4-5-4-5-24-4 FS $716,000 Nihilani At Princeville Resort #2A 1,406 #2A 2/2.0
196815 T A 106 4-5-4-5-24-29 FS $730,800 Nihilani At Princeville Resort #10B 1,567 #10B 2/2.5
196761 T A 106 4-5-4-5-24-1 FS $749,000 Nihilani At Princeville Resort #1A 1,406 #1A 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.
Now you see why I say, it’s the buy of the day! Keep your eyes open, there are others out there. You just have to be patient, watch closely, choose wisely then move quickly when the opportunity presents itself. Happy condo hunting!
Aloha,
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
blog: www.blogs.alohaliving.com/princeville-condo-sales
……you can have your own piece of paradise
ask me how!
Leave a Comment