Princeville condo (and house) update for the week of February 8th to 14th

Aloha,

Happy Belated Valentine’s Day to you. I hope your day was filled with the joy and pleasure of being with your loved one and family. There’s been a little more activity this past week with one upper end unit going into escrow and a couple that are at “noteworthy” price points. Here is your update:

Copyright 2/15/2009 by Hawaii Information Service

NEW LISTINGS
220884 T A 6 4-5-3-11-1-27 FS $750,000 Villas On The Prince #27 1,732 #27 3/3
221121 T A 3 4-5-4-5-3-3 FS $260,000 Princeville Paniolo #103 1,058 #103 1/2
220974 T A 5 4-5-4-5-24-63 FS $599,000 Nihilani At Princeville Resort #21C 1,972 #21C 2/3
221018 T A 1 4-5-4-5-12-28 FS $615,000 Sealodge Ii #J1 754 #J-1 2/2
221026 T A 3 4-5-4-12-3-1 FS $865,000 Hanalei Bay Villas #1 1,244 #1 2/2.5
221028 T A 3 4-5-4-12-3-2 FS $865,000 Hanalei Bay Villas #2 1,244 #2 2/2.5
221029 T A 3 4-5-4-12-3-26 FS $865,000 Hanalei Bay Villas #26 1,244 #26 2/2.5

BACK ON THE MARKET
207166 T A 374 4-5-3-6-22-59 FS $995,000 Kaiulani Of Princeville #59 1,892 #59 2/2.5
206788 T A 374 4-5-3-6-22-70 FS $995,000 Kaiulani Of Princeville #70 1,781 #70 2/2.5
214620 T A 187 4-5-3-6-22-39 FS $1,400,000 Kaiulani Of Princeville #39 2,479 #39 3/3
219933 T A 117 4-5-4-12-10-24 FS $475,000 Emmalani Court #412 1,192 #412 2/2
210999 T A 272 4-5-4-12-10-42 FS $549,900 Emmalani Court #525 1,456 #525 2/2

CONTINGENT SALES
217448 T C 105 4-5-4-12-11-15 FS $1,300,000 Puu Poa #201 1,359 #201 2/2

SALES
199453 T S 245 4-5-4-12-10-19 FS $480,000 Emmalani Court #322 1,192 #322 2/2
SOLD 2/10/2009 for $387,000 (CNV) DOM 245

EXPIRED
207326 T X 363 4-5-4-5-24-62 FS $560,000 Nihilani At Princeville Resort #21B 1,400 #21B 2/2
214847 T X 174 4-5-4-12-11-3 FS $1,249,000 Island of Kauai, Hanalei District, Puu Poa 1,800 #103 2/2

WITHDRAWN
207393 T W 340 4-5-3-6-22-64 FS $900,000 Kaiulani Of Princeville #64 1,738 #64 2/2.5
210590 T W 290 4-5-4-5-7-9 FS $499,000 Princeville Sealodge #B1 566 #B1 1/1
208134 T W 344 4-5-4-5-18-42 FS $595,000 Puamana #12B 1,532 #12B 2/2
188592 T W 799 4-5-4-5-24-63 FS $599,000 Nihilani At Princeville Resort #21C 1,972 #21C 2/3

PRICE CHANGES
216836 T A 126 4-5-3-11-1-30 FS $769,000- Villas On The Prince #30 1,767 #30 3/3
217211 T A 81 4-5-4-5-39-39 FS $325,000- Cliffs At Princeville #2109 917 #2109 1/2
220199 T A 25 4-5-4-5-13-4 FS $349,900- Kamahana #4 1,145 #4 2/2
196998 T A 614 4-5-4-15-21-43 FS $365,000- Sandpiper Village I #206 1,173 #206 2/2.5
215869 T A 156 4-5-4-5-23-16 FS $539,900- Plantation At Princeville #422 1,318 #422 3/3
200456 T A 529 4-5-4-12-11-14 FS $1,425,000- Puu Poa #114 2,065 #114 2/2
207393 T W 340 4-5-3-6-22-64 FS $900,000- Kaiulani Of Princeville #64 1,738 #64 2/2.5

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

Villas on the Prince 27 is the first new listing. This unit initially sold for $525K in 1/03 – but then shows two transactions in 10/04, one for $262,500 and another for $250K with the original owner maintaining a portion of the $262,500 sale. It was then deeded back to the seller for $500K in 12/07. It’s hard to tell exactly what happenned just from looking at the progression of changes, but it appears that the original owner now has the unit back solely in his name. It is currently listed for $750K. Paniolo 103 breaks new ground with a “noteworthy” low list price of $260K as a Fannie Mae REO. It was purchased for $410K in 4/05 then taken by the bank on 1/09 showing an amount of $337,300. This unit was previously listed from 3/07 to 2/08 for $455K and again from 10/08 to 1/09 starting at $349,895 and dropping to $336,500 during the life of the listing. These are the Paniolo units currently on the market:

Copyright 2/15/2009 by Hawaii Information Service

221121 T A 3 4-5-4-5-3-3 FS $260,000 Princeville Paniolo #103 1,058 #103 1/2
220078 T A 23 4-5-4-5-3-19 FS $299,000 Princeville Paniolo #204 1,058 #204 1/2
211781 T A 258 4-5-4-5-3-24 FS $369,000 Princeville Paniolo #211 1,058 #211 1/2
216338 T A 143 4-5-4-5-3-13 FS $385,000 Princeville Paniolo #113 1,058 #113 1/2
207502 T A 304 4-5-4-5-3-17 FS $399,000 Princeville Paniolo #202 1,058 #202 1/2
201428 T A 514 4-5-4-5-3-16 FS $469,000 Princeville Paniolo #116 1,058 #116 1/2
218092 T A 88 4-5-4-5-3-15 FS $650,000 Princeville Paniolo #115 1,058 #115 1/2

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

There’s quite a difference in view and road noise depending on where a unit is located in Paniolo, with many of them fronting Ka Haku, the main road, while others sits back off the road and overlook the Prince Golf course offering views and relative privacy. Also, Paniolo has several free standing units that are like cottages and are quite nice if they are not facing the busy road. The two least expensive ones, units 103 and 204 both face onto Ka Haku road, although as an upstairs unit, 204 offers vaulted ceilings and a loft bedroom. All Paniolo’s offer the lockout feature found in Sandpiper and Hale Moi.

Next up is the ever present Nihilani 21C which also shows as withdrawn on this update with over 750 market days. Originally purchased for $844,795 in 10/06, 21C is still listed at $599K as it was before, — however it is listed with a different brokerage. Will this unit ever sell? At $599K it certainly offers great value for the dollar and has golf course, lake, mountain and waterfall views plus it’s brand new!

Sealodge J1 is back as a new listing. This unit was previously listed from 6/08 to 1/09 starting at $729K and reducing to $615K before it was withdrawn from the market. The agent on this listing changed brokerages which is why J1 is back as a “new” listing. The next three units are owned by the same family– Hanalei Bay Villas #1 was purchased for $700K in 6/05, Villa #2 for $875K in 3/07 and Villa #26 for $860K in 5/07. This is the first time they’ve been listed since those purchases and all are listed for $865K.

Several units came back on the market starting with two developer Ka’iulani units, numbers 5 and 70, listed as they were previously for $995K each. Ka’iulani 70 is a resale which came back on the market at $1.4M after having been purchased for $1,503,600 in 3/07. Emmalani Court 412, which sold for $775K in 2/06 is a bank REO and is back on the market at $475K as is Emmalani Court 525, which sold for $400K in 1/03 and is listed for $549,900.

Pu’u Po’a 102, which represented an excellent opportunity at $1.3M went into escrow with only 105 days on the market. I’m sure there’s at least one or two buyers kicking themselves for not having moved on this unit when the thought crossed their mind. Purchased in 10/00 for $350K this is one unit that will reward the seller with a good deal of capital gains!

Emmalani Court 322 sets the standard for a new low “noteworthy” sale price, closing at $380K. This unit was purchased in 4/93 for $347K and originally came on the market on 1/08 for $709K. On 11/08 it was reduced from $650K to $480K which finally brought in a buyer. This sale is bad news for those sellers in that complex! — and for others like Sandpiper, Paniolo etc.

Two units expired : one is Nihilani 21B which sold for $656,650 on 10/06 and the other is Pu’u Po’a 103 which last sold for $695K in 7/03.

Three units were withdrawn, starting with a resale, Ka’iulani 64, which was purchased for $861,070 in 3/08. Sealodge B1, purchased for $110K in 5/00 was withdraw listed at $499K while Puamana 12B, purchased for $540K in 8/05 did the same thing listed at $595K. Nihilani 21C was withdrawn so it could be relisted as “New” as discussed under that section.

As for price changes, Villas on the Prince 30, purchased for $565K in 3/04 reduced from $795K to $769K. Cliffs 2109, purchased for $183K in 10/02 reduced from $375K to $325K while Kamahana 4, which is a bank REO went from $354,900 to $349,900. Sandpiper 206 reduced from $385K to $365K and was purchased for $114,500 in 11/99. Plantation 422, another bank REO, reduced from $559,900 to $539,900. Pu’u Po’a 114 came down a little from $1.475M to $1.425K and was purchased for $1.4M in 3/05. The final “markdown” of the week is Ka’iulani 64, which was purchased for $861,070 in 3/08 and reduced from $915K to $900K. After it reduced, the unit was withdrawn the following day, which is why it is also listed in that portion of this report.

Here is your Princeville Homoe update for this past week:

Copyright 2/15/2009 by Hawaii Information Service

NEW LISTINGS
219047 RS A 2 4-5-4-13-59 FS $980,000 3682 Keoniana Rd 10,247 sqft 1,676 3/2
221067 RS A 4 4-5-4-14-17 FS $1,475,000 3835 Albert Rd 10,579 sqft 2,743 3/3.5
220782 RS A 5 4-5-4-4-40 FS $16,900,000 4951 Hanalei Plantation Rd 1.08 ac 5,800 4/5
220949 RS T 1 4-5-4-20-14 FS $1,395,000 5118 Iolani Pl 19,012 sqft 3,918 4/4

TEMPORARILY WITHDRAWN
220949 RS T 1 4-5-4-20-14 FS $1,395,000 5118 Iolani Pl 19,012 sqft 3,918 4/4

PRICE CHANGES
218518 RS A 66 4-5-4-23-71 FS $869,000- 3784 Mapuana Pl 9,985 sqft 1,857 3/2.5
219075 RS A 62 4-5-4-19-25 FS $1,099,000- 5137 Napo’okala Cir 15,482 sqft 2,288 3/2
209942 RS A 311 4-5-4-8-9 FS $1,250,000- 3887 Punahele Rd 11,139 sqft 3,246 4/3

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

It’s starting out as a cool, breezy week with periodic rain but many visitors are still walking around in tank tops, shorts and slippahs — we’ve concluded they must be the ones visiting from Minnesota! Have a great week and don’t forget to call or email for the facts and figures for any property on the Island.

Aloha, Elaine

Winter waves breaking at Princeville’s Queen’s Bath

Elaine Schaefer (R, CRS, GRI, ABR)
Broker in Charge – Princeville Resort Office
Certified Residential Specialist
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!

February 15th, 2009