Princeville condo update for the week of Nov 11th to Nov 17th

If you haven’t already purchased your Thanksgiving turkey, this weekend is probably a good time to do it. Believe it or not, Thanksgiving is this coming Thursday! As you may expect, this week was pretty quiet in terms of real estate as guests arrive to prepare for Thanksgiving in Kauai. Take a look at what happened with Princeville condos this past week:

Copyright 11/17/2007 by Hawaii Information Service

NEW LISTINGS

203934 T A 0 4-5-3-6-22-22 FS $2,395,000 Kaiulani Of Princeville #22 2,864 #22 3/3.5
203796 T A 3 4-5-4-5-39-72 FS $399,500 Cliffs At Princeville #3204 917 #3204 1/2

SALES

152035 T S 0 4-5-3-6-22-21 FS $1,750,000 Kaiulani Of Princeville #21 2,873 #21 3/3.5
SOLD 11/16/2007 for $1,783,200 (CNV) DOM 0

152036 T S 0 4-5-3-6-22-22 FS $1,750,000 Kaiulani Of Princeville #22 2,873 #22 3/3.5
SOLD 11/16/2007 for $1,758,070 (CNV) DOM 0

152076 T S 125 4-5-3-6-22-6 FS $2,050,000 Kaiulani Of Princeville #6 2,861 #6 3/3.5
SOLD 11/15/2007 for $2,051,780 (CNV) DOM 125

WITHDRAWN

190646 T W 286 4-5-4-5-24-82 FS $697,000 Nihilani At Princeville Resort #28A 1,412 #28A 2/2

PRICE CHANGES

203934 T A 0 4-5-3-6-22-22 FS $2,395,000- Kaiulani Of Princeville #22 2,864 #22 3/3.5
194364 SH A 183 4-5-4-5-39-80 FS $120,000- Cliffs At Princeville #3304 1,137 #3304 2/2
183571 T A 409 4-5-4-5-3-7 FS $465,000- Princeville Paniolo #107 1,058 #107 1/2
201635 T A 47 4-5-4-12-2-28 FS $475,000- Hale Moi #208 1,033 #208 1/2
197847 T A 141 4-5-4-12-8-24 LH $599,000- Pali Ke Kua Ii #130 1,100 #130 2/1.5
202822 T A 28 4-5-4-12-10-29 FS $719,000- Emmalani Court #422 1,192 #422 2/2
188592 T A 346 4-5-4-5-24-63 FS $739,750- Nihilani At Princeville Resort #21C 1,972 #21C 2/3
201459 T A 53 4-5-4-6-1-9 FS $955,000- Villas Of Kamalii #9 1,761 #9 3/3

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 look at the first new listing, Kaiulani # 22 then look down under Sales, you’ll also see Kaiulani #22 then you’ll see it yet again under Price changes. It’s easy to see that the buyer just closed on this property from the developer on 11-16 for $1,750,000 then turned right around and listed it the next day for $2,395,000. The reason it shows under Price Changes is because it was initially listed for $2,400,000, but as we all know, $1.99 sounds better than $2.00 so the price was changed to $2,395,000.

The only other new listing, Cliffs 3204 is one I’ve shown several times but have not been able to find a buyer for yet. This unit expired on 10/8/07 after 494 days on the market during which time it started at a high of $515K, later working its way down to a low of $435K. The condo was in escrow twice and failed to close for whatever reason. With financing guidelines a little tighter and buyer’s being ever so very cautious, it doesn’t surprise me when properties fall out of escrow. This is a nice unit over in building three at the left side away from the noise of the laundry. While it certainly does not have ocean views, it’s a very short walk across the parking lot to the bluff where you can enjoy all the ocean you want. At $399,500, the seller does not have much room for negotiation without going “negative” as the condo was purchased in 2004 for $370K. Interestingly enough, when the current seller made the purchase for $370K, the list price at that time was also $399,500.

Moving onto the sales, all are developer’s sales of Kaiulani to the first time owners. Nihilani 28A, the 2 bed / 2 bath Moana unit was withdrawn after 286 days on the market. The sellers listed at $687K and did not reduce their price during the life of the listing, probably because they purchased it in 9/2006 for $640,945 and did not want to lose money on the sale.

Finally, we see all the price changes (as always) with the Cliffs fractional unit reducing to $120K from a high of $165K. Hale Moi #208 came down another $10K from $485K to $475K but I still think the best buy is Nihilani 21C. This is the largest unit offered in the complex and is all on one floor upstairs. The seller paid $844,795 in 10/2006 and just dropped it this time another $10K from $759K to $739,750. These are the Nihilani units on the market. Take a look at the size of the various units and you’ll see that for $739K, you’re getting quite a bit of square footage in 21C. Granted, it only has two bedrooms but the family room can easily be converted to a third bedroom.

Copyright 11/18/2007 by Hawaii Information Service

190750 T A 291 4-5-4-5-24-62 FS $630,000 Nihilani At Princeville Resort #21B 1,400 #21B 2/2
198758 T A 121 4-5-4-5-24-8 FS $699,000 Nihilani At Princeville Resort #3B 1,567 #3B 2/2.5
200674 T A 78 4-5-4-5-24-4 FS $716,000 Nihilani At Princeville Resort #2A 1,406 #2A 2/2
188592 T A 347 4-5-4-5-24-63 FS $739,750 Nihilani At Princeville Resort #21C 1,972 #21C 2/3
200223 T A 87 4-5-4-5-24-40 FS $789,000 Nihilani At Princeville Resort #14A 1,874 #14A 3/2.5
202645 T A 32 4-5-4-5-24-48 FS $794,750 Nihilani At Princeville Resort #16C 1,972 #16C 3/3
201267 T A 62 4-5-4-5-24-87 FS $825,000 Nihilani At Princeville Resort #29C 1,874 #29C 3/2.5
200673 T A 78 4-5-4-5-24-21 FS $829,000 Nihilani At Princeville Resort #7C 1,972 #7C 2/3
198480 T A 118 4-5-4-5-24-13 FS $835,000 Nihilani At Princeville Resort #5A 1,874 #5A 3/2.5
194193 T A 221 4-5-4-5-24-39 FS $835,000 Nihilani At Princeville Resort #13C 1,874 #13C 3/2.5
195377 T A 53 4-5-4-5-24-16 FS $850,000 Nihilani At Princeville Resort #6A 1,874 #6A 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.

I’d like to wish you all a very Happy Thanksgiving and thank each and every one of you for making my foray in blogging so successful. Please let me know if there is a specific topic or Princeville condo complex you’d like to hear about. Don’t forget to call or email if you’d like to put a some real estate on your Holiday gift list!

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!

November 18th, 2007