Nihilani – How much lower can it go?
I’ve been watching and reporting on Nihilani unit 21C since it started its downward journey on 6/07. $919,000 was the starting price on 12/06, then it went to $825K on 3/07. 6/07 took it to $799K at which point the agent advertised it as a “short sale” since the seller paid $844,795 on 10/06. The first few reductions didn’t really catch my attention, due to the softness of the market and the amount of inventory available. I mean, if you want to sell today, you really must be competatively priced in the marketplace or have a highly desirable property. However, as the price continued down, this brand new unit started to look more and more interesting.
I don’t know anything about this seller except one thing, this seller must sell. The condo just dropped this week from $739,750 to $699,750! How much lower will this unit go before it finds a buyer? Take a look at the other listings in this complex and compare square footage and price:
Copyright 11/30/2007 by Hawaii Information Service
190750 T A 303 4-5-4-5-24-62 FS $630,000 Nihilani At Princeville Resort #21B 1,400 #21B 2/2
198758 T A 133 4-5-4-5-24-8 FS $699,000 Nihilani At Princeville Resort #3B 1,567 #3B 2/2.5
188592 T A 359 4-5-4-5-24-63 FS $699,750 Nihilani At Princeville Resort #21C 1,972 #21C 2/3
200674 T A 90 4-5-4-5-24-4 FS $716,000 Nihilani At Princeville Resort #2A 1,406 #2A 2/2
200223 T A 99 4-5-4-5-24-40 FS $789,000 Nihilani At Princeville Resort #14A 1,874 #14A 3/2.5
202645 T A 44 4-5-4-5-24-48 FS $794,750 Nihilani At Princeville Resort #16C 1,972 #16C 3/3
201267 T A 74 4-5-4-5-24-87 FS $825,000 Nihilani At Princeville Resort #29C 1,874 #29C 3/2.5
200673 T A 90 4-5-4-5-24-21 FS $829,000 Nihilani At Princeville Resort #7C 1,972 #7C 2/3
198480 T A 130 4-5-4-5-24-13 FS $835,000 Nihilani At Princeville Resort #5A 1,874 #5A 3/2.5
194193 T A 233 4-5-4-5-24-39 FS $835,000 Nihilani At Princeville Resort #13C 1,874 #13C 3/2.5
195377 T A 65 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.
21C is the largest floor plan in this complex. If you have not been to Nihilani, it is one of the newest complexes in Princeville, located within walking distance of the Princeville Resort Hotel (10 minutes) and the Princeville Resort Shopping Center. (15-20 minutes.) They have one of the most beautiful pools in the community with the exception perhaps of Hanalei Bay Resort with its cascading waterfalls and private lagoon areas. All units have A/C with a two car garage.
There is one downside to this complex and that is lack of parking for anything over the two cars that need to be in your garage. Nihilani is built with 3 units per building in a “U” shape. One driveway serves the three units within that building meaning that you have to always park your car(s) in the garage in order to avoid blocking your neighbor. This is not so hard to do–and actually keeps the complex looking very neat and orderly. The problem is that “guest parking” is very limited and if you happen to be a 3 car or more family, you are doomed. Where to put the extra car(s) is a problem because guest parking is enforced for guess what— guest parking, meaning you cannot park your extra car there day after day.
Having said that, I own a Nihilani. Yes the parking issue is annoying but at the same time, Nihilani is the only condo complex on the Island with a two car garage. Even more importantly, the units are beautiful and well designed. There are four floor plans, two which are townhouse style and two which provide single floor living. Pets are permitted under a certain size. Nihilani may not be for everyone but if the parking is not an issue for you, 21C offers a great opportunity to get into a large unit at a good price. Like I said before, just how much lower can it go? Stay tuned to find out! Any questions on Nihilani, or any other complex, just ask.
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!
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