Princeville condo update for the week of September 16th to 22nd

It always seems to quiet down this time of the year; Summer is over, the holidays aren’t quite here, parents are busy getting children back into a school routine….and as a result, real estate takes a little breather too. Good news this week was the rate cut by the Federal Reserve. We’ll have to wait to see how this impacts the market.

Of the sales this week, two were pre-sales from Kai’ulani, as well as the Nihilani I wrote about earlier this week, a Cliffs and Villas of Kamali’i. Here is your market update:

NEW LISTINGS

201428 T A 3 4-5-4-5-3-16 FS $519,000 Princeville Paniolo #116 1,058 #116 1/2.0
201318 T A 5 4-5-4-5-18-32 FS $695,000 Puamana #9A 1,532 #9A 2/2.0
201267 T A 6 4-5-4-5-24-87 FS $869,900 Nihilani At Princeville Resort #29C 1,874 #29C 3/2.5

BACK ON THE MARKET

196541 T A 73 4-5-4-12-10-25 FS $565,000 Emmalani Court #413 952 #413 1/2.0
188034 T A 288 4-5-4-11-3-13 FS $1,399,000 Hanalei Bay Resort #C15 1,705 #C15 3/3.0

CONTINGENT SALES

193237 T C 185 4-5-4-6-1-41 FS $875,000 Villas Of Kamalii #41 1,825 #41 3/3.0

SALES

152085 T S 226 4-5-3-6-22-48 FS $1,500,000 Kaiulani Of Princeville #48 2,476 #48 3/3.0
SOLD 9/19/2007 for $1,502,610 (CASH) DOM 226

152093 T S 0 4-5-3-6-22-47 FS $1,650,000 Kaiulani Of Princeville #47 2,443 #47 3/3.5
SOLD 9/19/2007 for $1,683,590 (CASH) DOM 0

184227 T S 252 4-5-4-5-39-107 FS $598,000 Cliffs At Princeville #4303 1,137 #4303 2/2.0
SOLD 9/14/2007 for $598,000 (CNV) DOM 252

194901 T S 127 4-5-4-5-24-85 FS $739,900 Nihilani At Princeville Resort #29A 1,874 #29A 3/2.5
SOLD 9/20/2007 for $710,000 (1031) DOM 127

193915 T S 133 4-5-4-6-1-56 FS $925,000 Villas Of Kamalii #56 1,761 #56 3/3.0
SOLD 9/14/2007 for $890,000 (CNV) DOM 133

UNDER CONTRACT

EXPIRED

184679 T X 355 4-5-4-5-3-25 FS $495,000 Princeville Paniolo #213 1,058 #213 1/2.0

WITHDRAWN

194370 SH W 220 4-5-4-11-3-24 FS $375,000 Hanalei Bay Resort #G32 1,324 #G32 2/2.0
194368 SH W 220 4-5-4-11-3-24 FS $375,000 Hanalei Bay Resort #G32 1,324 #G32 2/2.0
194367 SH W 220 4-5-4-11-3-24 FS $375,000 Hanalei Bay Resort #G32 1,324 #G32 2/2.0
194366 SH W 220 4-5-4-11-3-24 FS $385,000 Hanalei Bay Resort #G32 1,324 #G32 2/2.0
194372 SH W 220 4-5-4-11-3-24 FS $395,000 Hanalei Bay Resort #G32 1,324 #G32 2/2.0

TEMPORARILY WITHDRAWN

PRICE CHANGES

196403 T A 116 4-5-4-5-18-81 FS $425,000- Puamana #22C 1,790 #22C 2/2.0
196532 T A 117 4-5-4-12-2-6 FS $515,000- Hale Moi #106 1,033 #106 2/2.0
173568 T A 529 4-5-4-5-17-15 FS $570,000- Alii Kai Ii Hanalei #9G 1,037 #9G 2/2.0
189728 T A 240 4-5-4-5-12-19 FS $650,000- Sealodge Ii #H1 556 #H1 1/1.0
197083 T A 102 4-5-4-11-3-24 FS $1,560,000- Hanalei Bay Resort #G32 1,324 #G32 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.

Take a look at the new listings and you’ll see a new Nihilani townhouse, unit 29C came on the market at $869K while the one at the opposite end of the building, unit 29A is my buy of the week selling for $710K. Both units are upgraded with travertine, plantation shutters, ceiling fans, custom paint and designer furniture.

Under the sold units, it looks like Cliffs 4303 sold for full asking price, unless you know that the unit originally came on the market at $699K, slowly working its way down to $598 on 7/5/2007. It sold for the full “adjusted price!” As for the withdrawn units, those are all fractional segments of Hanalei Bay Resort Unit G32 which were taken off the market while the seller apparently decided to focus on selling the whole unit. You’ll see HBR G32 is now $1.560M down from $1.675M. It’s not uncommon to see fractional properties also listed for sale as a whole unit. Personally, I think it makes it hard to sell as a fractional when it’s listed both ways. It certainly seems to send the message to the buyer that the seller is on the fence as to the fractional sale.

It looks like the seller of Puamana 22C is committed to selling. This unit has only been on the market 116 days, starting out at $510K on 5/30, dropping to $499K on 7/2, dropping again to $475K on 7/24, to $450 on 8/8 and finally this week down to $425K. The seller is even willing to pay up to $7K of buyer’s closing costs. If you are looking for a Puamana, this unit looks like one to watch. Take a look at how it compares to the other Puamana units in terms of price:

Copyright 9/23/2007 by Hawaii Information Service

196403 T A 116 4-5-4-5-18-81 FS $425,000 Puamana #22C 1,790 #22C 2/2.0
198740 T A 60 4-5-4-5-18-91 FS $470,000 Puamana #25B 1,532 #25B 2/2.0
180682 T A 440 4-5-4-5-18-34 FS $497,500 Puamana #9C 1,532 #9C 2/2.0
199105 T A 58 4-5-4-5-18-95 FS $499,000 Puamana #26B 1,532 #26B 2/2.0
196884 T A 107 4-5-4-5-18-68 FS $519,000 Puamana #19B 1,660 #19B 3/2.0
191813 T A 215 4-5-4-5-18-21 FS $579,000 Puamana #6B 1,732 #6B 3/2.0
198318 T A 73 4-5-4-5-18-42 FS $649,000 Puamana #12B 1,532 #12B 2/2.0
201318 T A 5 4-5-4-5-18-32 FS $695,000 Puamana #9A 1,532 #9A 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.

Have a great week and keep your eyes open for those good buys. If you need help, please call or email anytime!

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!

September 23rd, 2007