Princeville condo (and house) update for the week of May 4th to May 10th

Aloha and Happy Mother’s Day!

If you’re here on Kauai then you’re enjoying exceptional weather this special day, and if you’re not, well – I do hope your weather is as flawless as ours is here. The mere fact that you’re reading this blog inidcates you have some interest in being here, so let’s get on with this week’s update:

Copyright 5/11/2008 by Hawaii Information Service

NEW LISTINGS
209505 T A 5 4-5-3-11-1-32 FS $980,000 Villas On The Prince #32 1,737 #32 3/3
210969 T A 6 4-5-3-6-22-2 FS $1,850,000 Kaiulani Of Princeville #2 2,843 #2 3/3.5
210902 T A 6 4-5-4-5-39-4 FS $489,000 Cliffs At Princeville #1104 917 #1104 1/2
209450 T A 2 4-5-4-15-21-44 FS $522,500 Sandpiper Village I #207 1,173 #207 2/2.5
211031 T A 5 4-5-4-5-18-87 FS $527,000 Puamana #24B 1,732 #24B 2/2
210598 T A 6 4-5-4-5-24-8 FS $603,300 Nihilani At Princeville Resort #3B 1,567 #3B 2/2.5
211066 T A 2 4-5-4-5-18-30 FS $644,900 Puamana #8C 1,532 #8C 2/2
210999 T A 3 4-5-4-12-10-42 FS $675,000 Emmalani Court #525 1,456 #525 2/2
210387 T A 6 4-5-4-12-10-13 FS $700,000 Emmalani Court #311 1,456 #311 2/2
211188 T A 1 4-5-4-5-18-52 FS $710,000 Puamana #14D 1,673 #14D 3/3

BACK ON THE MARKET
210598 T A 6 4-5-4-5-24-8 FS $603,300 Nihilani At Princeville Resort #3B 1,567 #3B 2/2.5
206852 T A 90 4-5-4-6-1-29 FS $899,950 Villas Of Kamalii #29 1,825 #29 3/3

CONTINGENT SALES
210611 T C 13 4-5-4-5-24-33 FS $799,200 Nihilani At Princeville Resort #11C 1,972 #11C 3/3

EXPIRED
195595 T X 365 4-5-4-5-27-8 FS $415,000 Hale Honu #4B 866 #4B 2/1
195533 T X 366 4-5-4-5-23-58 FS $619,000 Plantation At Princeville #1512 1,153 #1512 2/2

PRICE CHANGES
205596 T A 120 4-5-4-15-21-30 FS $459,000- Sandpiper Village I #130 1,042 #130 2/2
194396 T A 305 4-5-4-5-4-17 FS $550,000- Ka’eo Kai Ph I #7B 2,603 #7B 3/3
206852 T A 90 4-5-4-6-1-29 FS $899,950+ Villas Of Kamalii #29 1,825 #29 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.

Surprisingly, most all the new listings this week actually are new listings and are not a “re-list” of a recently withdrawn or expired property. Starting with Villas on the Prince #32 at $980K, this unit was purchased in 2/03 for $545K and is on the market for the first time since then. Ka’iulani #2 joins the list of other developer’s units currently on the market in that complex and is priced at $1.850M. Cliffs #1104 at $489K was last on the market in 01 when it sold for $135K. One of the more recent Cliffs sales was in Building 3 on 1/08 for $380K. Unit 4206, which offered some ocean view, closed on 2/08 for $570K.

Sandpiper #207 was purchased for $299K in 1/03 and is listed well above recent sales at $522,500. Puamana #24B at $527K was last on the market in 4/06 to 6/06 for $617K. This unit was purchased for $375K in 2/05. Nihilani is having a 60 day promotion on their remaining units, of which 3B is one of them. At $603,300 it’s just about $100K off recent developer’s sales prices. Puamana #8C was sold in 7/88 for $95K as a leasehold property, after which the owner purchased the “fee” (converted from leasehold to fee simple) on 5/00 for $37,500 and is another new listing at $644,900. Emmalani Court #525 sold for $400K in 1/03 and comes on the market this week at $675K. Another unit in the same complex, #311 sold for $695K in 8/05 and comes on the market almost at the same place — at $700K. This unit was previously listed from 5/07 to 11/07 during which time it went from $839K to $788K before being withdrawn. Puamana 14D is our last new listing at $710K. This is one of the few 3 bedroom Puamana units, and was last sold in 6/03 for $369,500.

A couple of units came back on the market: Nihilani 3B is a developer’s unit listed at the new low price of $603,300. Villas of Kamali’i #29 was withdrawn from the market on 4/08 while listed at $899K and is back at a new, slightly higher price of $899,950, which you’ll also see under the “price changes” portion of this update. It was purchased in 6/05 for $750K.

We have one contingent sale which is one of the developer’s Nihilani units. With the current pricing promotion in effect until June 30th, I expect to see others going into escrow also.

Hale Honu #4B expired after 365 unsuccessful days on the market, starting out at $495K and dropping to $415K, which was obviously still too high for the buyers. This unit was purchased in 3/06 for $430K leaving the seller with no room to negotiate in today’s market. Plantation #1512 also expired after a year on the market. Originally listed at $638K, and purchased in 2/06 for $520,402, this unit ended up at $619K with no takers.

Finally, our price changes, which are all decreases except for the one unit, Villas of Kamali’i #29 which went up a bit. Sandpiper #130 went from $480K to $459K, but needs to go down a bit further to be competative. It was purchased in 6/03 for $238K. Ka’eo Kai #7B went from $575K to $550K. This unit, purchased for $625K in 10/04, started out at $649,950 and has yet to find a buyer, despite having more square footage (2,603) than just about any other unit, with the exception of Ka’iulani, which is priced well over $1M. Granted, the unit may need some updating and the maintenance fees of $805 are on the high side, but it does offer “mega” square footage for the price. Are there any takers?

As for Princeville homes, here are the changes for this past week:

Copyright 5/11/2008 by Hawaii Information Service

NEW LISTINGS
210781 RS A 5 4-5-4-23-35 FS $769,000 3793 Moae Pl 6,386 sqft 1,651 3/2
210765 RS A 5 4-5-4-23-24 FS $850,000 3807 Makani Kai Pl 10,386 sqft 1,535 3/2
211122 RS A 2 4-5-4-13-37 FS $2,285,000 3584 Kaweonui Rd 14,685 sqft 3,500 4/3.5

BACK ON THE MARKET
199159 RS A 308 4-5-3-12-33 FS $1,885,000 3998 Aloalii Dr 9,823 sqft 3,800 4/4.5

CONTINGENT SALES
209478 RS C 40 4-5-4-16-40 FS $799,000 4130 Kekaulike Ln 10,500 sqft 1,625 3/2

UNDER CONTRACT
197977 RS U 273 4-5-4-21-36 FS $995,000 4892 Cr Kaui Rd/pepelani 28,847 sqft 2,274 4/3.5

WITHDRAWN
198239 RS W 301 4-5-4-13-24 FS $4,400,000 3574 Keoniana Pl. 14,406 sqft 3,500 4/4.5

TEMPORARILY WITHDRAWN
199054 SH T 289 4-5-4-16-22 FS $365,000 4080 Kaa’humanu Pl 9,731 sqft 2,460 4/3.5

PRICE CHANGES
168524 RS A 892 4-5-4-22-4 FS $799,000+ 4087 Nalani Ln 11,244 sqft 1,424 3/2
208005 RS A 66 4-5-4-13-54 FS $875,000- 3646 Keoniana Rd 11,539 sqft 1,578 3/2
208903 RS A 52 4-5-4-9-49 FS $2,995,000- 5289 Pokii Ln 20,868 sqft 3,510 4/4

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

Nalani Lane has had yet another price change and has gone up to $799K from the formerly attractive price of $699K. This house hit its all time low of $685K on 3/28/08 from an all time high of $975K in 11/05. During its 892 days on the market, this home has experienced 48 price changes, up, down and all around. I guess you could say, if you don’t succeed at first (with the correct pricing) try, try again.

That’s it for this week. Call or email if you need anything. That’s why I’m here!

Aloha, Elaine

Elaine’s Photo

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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Aloha!

Elaine

Elaine Schaefer (R)
Broker in Charge
Certified Residential Specialist
Accredited Buyer's Representative
Graduate, Realtor's Institute

Cellular:
808.639.2935
Fax:
808.440.4552
Email:
soldonkauai@gmail.com
Web:
KauaiRealEstateNow.com

RE/MAX Kauai
Princeville Resort Office
5-4280 Kuhio Hwy. Suite 203
Princeville HI 96722

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