Princeville condo update for the week of September 30th to Oct 6th

Aloha,

This week there were two sales with no new condos going into escrow. One of the new listings / sales is a Nihilani Makani unit for $750K. This shows zero days on the market because it was a developer’s sale, in other words, this is a brand new unit being sold for the first time. This complex has struggled to complete the initial sales of units within the complex due to the buyer’s market. As a result, the developer has been slow to finish the last few buildings in this complex. Typically, developer’s prices are non-negotiable, however, given the current market climate, this might be a good time to have your agent go in and negotiate with the developer if you desire a Nihilani unit. Either that, or wait for some of the resale units to come down.

Nihilani Unit 6A, which is also a Makani floor plan, just came back on the market at $850K. This unit was purchased for $770,080 in 2/2007. There is also another reduction on Nihilani 21C from $769K to $759. This unit started out at $919K in 3/2007 and has been moving downward since then. At 1,972 sqft of living space, this model known as the Mahina, is the largest model in the complex with 2 bedrooms and 3 baths in a one level upstairs unit. This unit was purchased on 10/06 for $844,795 which means the seller is doing a “short sale.” When offered by the developer, there was an option to convert the family room space to a third bedroom which probably would make this unit more desirable. In the listing, the agent states that this conversion coud be done very easily. It is upgraded with stainless steel appliances, custom paint color package, enhanced lighting fixtures, fully tiled bathrooms, and granite slab countertops throughout. As this unit moves downward it offers an excellent opportunity to get into this complex at a very competative price. If I were interested in this unit, I would check with the seller and / or the developer to determine the the conversion cost for the 3rd bedroom.

Also under new listings is Hale Moi 208 which came on the market at $525K, making it $25K less than the next lowest priced upstairs Hale Moi unit. If a Pu’u Po’a is on your ‘must have’ list, the new listing for $1,675,000 is the least expensive in the complex, plus it’s a top floor unit! All the units in this complex have commanding ocean views and are just steps away from the Princeville Resort Hotel restaurants and shops. Now, on to your update for this week:

Copyright 10/8/2007 by Hawaii Information Service

NEW LISTINGS

201635 T A 5 4-5-4-12-2-28 FS $525,000 Hale Moi #208 1,033 #208 1/2.0
201712 T A 5 4-5-4-5-30-11 FS $589,000 Princeville Mauna Kai #F21 1,478 #F21 3/2.0
201944 T A 2 4-5-4-12-11-46 FS $1,675,000 Puu Poa #404 1,352 #404 2/2.0
201900 T S 0 4-5-4-5-24-30 FS $750,000 Nihilani At Princeville Resort #10C 1,874 #10C 3/2.5
SOLD 10/1/2007 for $750,000 (CASH) DOM 0

BACK ON THE MARKET

195377 T A 10 4-5-4-5-24-16 FS $850,000 Nihilani At Princeville Resort #6A 1,874 #6A 3/2.5

CONTINGENT SALES

SALES

201900 T S 0 4-5-4-5-24-30 FS $750,000 Nihilani At Princeville Resort #10C 1,874 #10C 3/2.5
SOLD 10/1/2007 for $750,000 (CASH) DOM 0

200899 T S 0 4-5-4-12-10-37 FS $770,000 Emmalani Court #515 1,456 #515 2/2.0
SOLD 10/3/2007 for $770,000 (CNV) DOM 0

EXPIRED

193699 T X 176 4-5-4-5-23-62 FS $667,900 Plantation At Princeville #1612 1,153 #1612 2/2.0

WITHDRAWN

188474 T W 297 4-5-4-5-7-8 FS $749,000 Princeville Sealodge #A8 571 #A8 1/1.0
194329 T W 166 4-5-4-5-12-24 FS $779,000 Sealodge Ii #H6 567 #H6 1/1.0

TEMPORARILY WITHDRAWN

197351 T T 105 4-5-4-15-21-54 FS $475,000 Sandpiper Village I #217 1,173 #217 3/2.5

PRICE CHANGES

188592 T A 304 4-5-4-5-24-63 FS $759,000- Nihilani At Princeville Resort #21C 1,972 #21C 2/3.0

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

If you have questions about these units or any complex in Princeville, please do not hesitate to call or email. Enjoy Columbus Day!

Aloha Elaine

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!

October 8th, 2007