Princeville condo (and house) update for the week of November 16th to 22nd
Aloha,
This has been a relatively quiet week, which is common for this time of the year, as our thoughts turn to family and friends in anticipation of Thanksgiving. Just one new listing, one sale and several good price reductions. Here is your update for last week:
Copyright 11/23/2008 by Hawaii Information Service
NEW LISTINGS
218237 T A 5 4-5-4-12-9-28 LH $252,000 Pali Ke Kua Iii #238 993 #238 1/2
218092 T A 4 4-5-4-5-3-15 FS $650,000 Princeville Paniolo #115 1,058 #115 1/2
218304 T A 3 4-5-4-12-10-13 FS $669,000 Emmalani Court #311 1,456 #311 2/2
BACK ON THE MARKET
199453 T A 293 4-5-4-12-10-19 FS $480,000 Emmalani Court #322 1,192 #322 2/2
SALES
211709 T S 75 4-5-4-5-18-97 FS $429,000 Puamana #26D 1,532 #26D 2/2
SOLD 11/21/2008 for $386,000 (FHA) DOM 75
WITHDRAWN
210387 T W 199 4-5-4-12-10-13 FS $700,000 Emmalani Court #311 1,456 #311 2/2
213637 T W 117 4-5-4-12-11-46 FS $1,475,000 Puu Poa #404 1,352 #404 2/2
PRICE CHANGES
214620 T A 103 4-5-3-6-22-39 FS $1,400,000- Kaiulani Of Princeville #39 2,479 #39 3/3
206939 T A 291 4-5-4-12-10-16 FS $480,000- Emmalani Court #314 1,192 #314 2/2
199453 T A 293 4-5-4-12-10-19 FS $480,000- Emmalani Court #322 1,192 #322 2/2
186493 T A 758 4-5-4-5-17-55 FS $579,000- Alii Kai Ii Hanalei #14G 1,037 #14G 2/2
194640 T A 510 4-5-4-12-9-27 FS $805,000- Pali Ke Kua Iii #237 1,135 #237 2/2
208628 T A 255 4-5-4-12-11-55 FS $1,279,000- Puu Poa #413 1,777 #413 2/2
This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.
Of the three new listings, only one is actually “new” since it’s last sale. Pali Ke Kua 237 has literally been on the market for years, starting back in 3/06 and running until 10/08, during which time it went from $699K to $335K. Purchased in 5/04 for $369K, it is now a possible short sale, back on the market as a new listing for a dramatically lower price of $252K. The catch, of course, is that this is a leasehold property, but even so, it has ocean views, is in a visitor destination area and could be someone’s tax write off (association fees as well as leasehold rents are generally tax deductible) while providing a nice Kauai home, second home or vacation rental. What does this seller have to do to sell? It’s just steps from the soon to be new St. Regis Princeville Hotel which should make it desirable to someone. Don’t we have any buyer for this unit out there?
Next up is Paniolo 115, last purchased for $550K in 6/06. Listed at $650K it’s priced slightly less than several Princeville homes, in part because it is a free standing cottage within Paniolo. Upgrades are said to have cost $175K making it undoubtedly one of the nicest Paniolo’s you’ll ever see. Emmalani Court 311 is back as a new listing, priced at $669K. This unit last sold for $695K in 8/05 and was previously listed from 5/07 to 11/07, starting at $839K and dropping to $788K before it was withdrawn, and from 5/08 to 11/08 for $700K before it was withdrawn a second time.
Emmalani Court 322 is back on the market after expiring while listed at $650K. It comes back with a huge special price reduction to $480K which is good only until 11/30/08. You’ll see this unit also listed under price reductions. It was purchased in 4/93 for $347K. Puamana 26D is the only sale this week, closing well below the list price of $429K for $386K. This unit sold for $401K in 10/4.
Emmalani Court 311 was withdrawn from the market while listed for $700K. With a purchase price of $695K in 8/05 it’s easy to see why this unit was withdrawn if the seller does not want to lose money. Pu’u Po’a 404 is another story altogether. With a purchase price of $325K in 7/91 you would think this seller had room for negotiating, but you never know. This unit was listed for $1.475M.
Price changes are our last catagory, as always. Ka’iulani 39, purchased in 3/07 for $1,503,600 reduced from $1.75M to $1.4M. A good reduction but not one that will garner this seller anything but a tax write off. Not only did Emmalani Court 314 reduce from $600K to $480K but so did Emmalani Court 322, which was purchased in 4/93 for $347. This unit, apparently owned by the same person (the ownership shows to two different corporations) is also only available at this price until 11/30/2008. Ali’i Kai 14G, purchased in 8/05 for $583K went from $589K to $579K. Pali Ke Kua 237, purchased in 2/05 for $750K moved from $870K to $805K. And finally, we have Pu’u Po’a 413 which reduced from $1.595M to $1.279M – another healthy price reduction. This unit was purchased in 2/00 for $410K
On to your Princeville house update for last week:
Copyright 11/23/2008 by Hawaii Information Service
NEW LISTINGS
217834 RS A 6 4-5-4-9-33 FS $1,779,000 4221 Kekuanao’a Ln 17,811 sqft 3,232 4/3
218120 RS A 4 4-5-4-8-62 FS $1,795,000 3812 Punahele Rd 14,573 sqft 2,900 3/2
BACK ON THE MARKET
203978 RS A 367 4-5-3-11-41 FS $1,595,000 4120 Aloalii Dr 9,103 sqft 2,521 3/3.5
209601 RS A 233 4-5-4-23-55 FS $699,000 3781 Milimakani Pl 7,187 sqft 1,295 3/2
203900 RS A 368 4-5-4-14-26 FS $2,150,000 3925 Kamehameha Rd 20,093 sqft 3,925 4/3.5
WITHDRAWN
198759 RS W 486 4-5-4-15-16 FS $749,000 3834 Haulani Pl 11,020 sqft 2,048 3/3
208034 RS W 235 4-5-4-16-72 FS $1,588,000 4436 Emmalani Dr 10,034 sqft 3,444 4/3
202559 RS W 395 4-5-4-7-12 FS $1,950,000 3912 Namakeha Loop 10,055 sqft 2,300 3/3
PRICE CHANGES
211932 RS A 156 4-5-3-11-25 FS $1,250,000- 4083 Aloalii Dr 7,937 sqft 2,192 3/2.5
203978 RS A 367 4-5-3-11-41 FS $1,595,000- 4120 Aloalii Dr 9,103 sqft 2,521 3/3.5
215193 RS A 91 4-5-4-23-8 FS $699,000- 4838 Ou Pl 8,104 sqft 1,213 3/1.5
188351 RS A 664 4-5-4-17-2 FS $850,000- 4959 Emmalani Dr 10,875 sqft 2,682 4/4.5
214764 RS A 233 4-5-4-15-3 FS $1,595,000- 3979 Kamehameha Rd 10,772 sqft 3,558 5/3.5
This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.
This week promises to be another slow one, as we all take time to give thanks for all the abundance in our lives and to reflect on what is really important. No one is happy with the slow real estate market and the current overall financial market, but we are still rich beyond words when counting our blessing instead of dollars and realizing we are all very much loved and cared for within our own framework of family and friends. Thank you reading my blog and have a very Happy Thanksgiving.
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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