Princeville condo (and house) update for the week of February 15th to 21st

Aloha,

It’s been a pretty slow week with little activity as you’ll see from the update. Maybe it’s due to the less than desirable weather — this has been one of the coldest winters I’ve experienced in a long while. Mind you, I don’t expect much in the way of empathy or sympathy since few people consider lows in the high 50’s or low 60’s as something to cry about. But come live here for a few years and you’ll find yourself singing the same song. Here’s your update for this week:

Copyright 2/21/2009 by Hawaii Information Service

NEW LISTINGS
220019 T A 5 4-5-3-6-22-20 FS $2,650,000 Kaiulani Of Princeville #20 2,864 #20 3/3.5
221272 T A 3 4-5-4-5-24-102 FS $650,000 Nihilani At Princeville Resort #34C 1,972 #34C 3/3

BACK ON THE MARKET
207661 T A 363 4-5-4-5-4-5 FS $349,000 Ka’eo Kai Ph I #5A 1,503 #5A 2/2

CONTINGENT SALES
219933 T C 123 4-5-4-12-10-24 FS $475,000 Emmalani Court #412 1,192 #412 2/2

SALES
214678 T S 113 4-5-4-12-5-31 FS $1,195,000 Pali Ke Kua Incr I, ii, iii #213B 904 #213B 2/2
SOLD 2/18/2009 for $1,100,000 (CASH) DOM 113

UNDER CONTRACT
201267 T U 488 4-5-4-5-24-87 FS $599,000 Nihilani At Princeville Resort #29C 1,874 #29C 3/2.5

EXPIRED
214863 T X 183 4-5-4-5-23-49 FS $625,000 Plantation At Princeville #1311 1,140 #1311 2/2
207020 T X 366 4-5-4-5-7-13 FS $659,000 Princeville Sealodge #B5 748 #B5 2/2
205502 T X 407 4-5-4-11-3-125 FS $995,000 Hanalei Bay Resort #R17 867 #3105-6 1/2

WITHDRAWN
207502 T W 305 4-5-4-5-3-17 FS $399,000 Princeville Paniolo #202 1,058 #202 1/2
216532 T W 133 4-5-4-5-18-87 FS $467,000 Puamana #24B 1,700 #24B 3/2
210596 T W 288 4-5-4-5-24-23 FS $578,000 Nihilani At Princeville Resort #8B 1,567 #8B 2/2.5
207651 T W 356 4-5-4-5-24-29 FS $643,300 Nihilani At Princeville Resort #10B 1,567 #10B 2/2.5
210698 T W 356 4-5-4-5-24-25 FS $664,000 Nihilani At Princeville Resort #9A 1,406 #9A 2/2
210700 T W 287 4-5-4-5-24-98 FS $690,000 Nihilani At Princeville Resort #33B 1,406 #33B 2/2
208778 T W 340 4-5-4-5-12-6 FS $695,000 Sealodge Ii #F6 567 #F6 1/1
210607 T W 282 4-5-4-5-24-6 FS $735,200 Nihilani At Princeville Resort #2C 1,972 #2C 3/3
210608 T W 343 4-5-4-5-24-99 FS $774,200 Nihilani At Princeville Resort #33C 1,972 #33C 3/3
210696 T W 287 4-5-4-5-24-32 FS $780,500 Nihilani At Princeville Resort #11B 1,874 #11B 3/2.5
210611 T W 295 4-5-4-5-24-33 FS $799,200 Nihilani At Princeville Resort #11C 1,972 #11C 3/3

PRICE CHANGES
215773 SH A 166 4-5-4-5-27-7 FS $279,000+ Hale Honu #4A 866 #4A 2/1
215563 SH A 173 4-5-4-5-18-76 FS $389,000+ Puamana #21B 1,700 #21B 3/2
173568 T A 1,046 4-5-4-5-17-15 FS $399,000- Alii Kai Ii Hanalei #9G 1,037 #9G 2/2
192528 T A 717 4-5-4-5-13-27 FS $444,000- Kamahana #27 1,732 #27 2/2
210598 T A 285 4-5-4-5-24-8 FS $550,000- Nihilani At Princeville Resort #3B 1,567 #3B 2/2.5
210699 T A 290 4-5-4-5-24-31 FS $620,000- Nihilani At Princeville Resort #11A 1,406 #11A 2/2
210691 T A 352 4-5-4-5-24-44 FS $648,000- Nihilani At Princeville Resort #15B 1,874 #15B 3/2.5
209200 T A 333 4-5-4-5-7-5 FS $677,000- Princeville Sealodge #A5 564 #A5 1/1
210693 T A 290 4-5-4-5-24-28 FS $765,000- Nihilani At Princeville Resort #10A 1,874 #10A 3/2.5
219178 T A 66 4-5-4-11-3-4 FS $1,595,000- Hanalei Bay Resort #A22 1,705 #9201-2-3 (A22) 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.

Ka’iulani 20 is a resale which was listed previously from 1/08 to 1/09 for the exact same price it is now, which is $2.650M. It sold for $1,985,180 on 11/07. I just don’t see this market supporting the sale of a property that is listed for $600K more than when it sold a year and half ago. Nihilani 34C which is a developer’s unit, was previously listed from 4/08 to 8/08 for $769,200. It is now on the market at a much more realistic price which is $650K.

Ka E’o Kai 5A, which is a short sale, is back on the market after expiring. Emmalani court, also a short sale, went into escrow this week listed at $475K. It was purchased in 2/06 for $775K and started out listed at $509,900. The surprise of the week is Pali Ke Kua 213, a 2 bedroom 2 bath ocean bluff unit with views of Hanalei Bay and Bali Hai. Listed at $1.195M it closed at $1.1M. I didn’t see the inside of this unit while it was active, but judging from the pictures it looked very clean but not particularly upgraded which is part of the reason I was suprised to see it close at over a million. This sale should give a much needed boost to unit 105, also with Bali Hai and Hanalei Bay views, listed at $829K with 282 market days. Unit 109 is also listed with the same views for $869,900. Granted, 213 was the only 2 bedroom unit that’s been listed in awhile but I didn’t think it would sell for that much. However, the market is unpredictable and I am no fortune teller. I’m always happy to see a unit sell for more than what I thought as it gives a boost to everything else and it’s better for the seller. Go get ‘em.

Nihilani 29C continued on it’s way to closing, moving from in escrow to under contract. This typically signals that all contingencies have been met and that closing is imminent. I hope to report on the sale price next week. This is a resale which originally sold for $747,320 in 7/06.

Several units expired this week: Plantation #1311 which sold for $535K in 11/05, Sealodge B5 which last sold for @220K in 12/99 and Hanalei Bay Resort 3105/6 which sold for $895K in 5/05. Paniolo 202 was withdrawn, listed at $399K with a purchase price of $120K in 5/94 as a leasehold unit and a conversion to fee simple in 11/94 for $27K. Puamana 24B was also withdrawn, listed for $467K and purchased for $375K in 2/05. The remainder of the withdrawn units are all developer Nihilani units: 8B, 10B, 9A, 33B, 2C, 33C, 11B and 11C. Mixed in with Nihilani was Sealodge F6 listed for $695K and purchased for $565K in 12/05.

The first two price changes are for fractional shares: Hale Honu 4A which sold for $153K in 5/02 moved up from $110K to $297K for a 6 month fractional. Puamana 21B which sold for $70K in 4/99 as a leasehold and was converted to fee simple in 7/00 for $35,700 went from $178K to $389K for 6 months or you can purchase the entire unit for $669K. Ali’i Kai 9G, which sold for $151K in 12/99 reduced from $450K to $399 while Kamahana went from $539K to $444K. This unit sold for $395K in 4/04. Several of the developer’s Nihilani units were reduced (finally). They are: Nihilani 3B which went from $588,300 to $550K for their Hoku model; Unit 11A, a downstairs Moana floorplan went from $659K to $620K, Unit 15B, the townhouse style Makani unit went from $676,500 to $648K and unit 10A, also a Makani floorplan, reduced from $780,500 to $765K, which is still well above recent sales. (although you do get peek of the ocean from this unit.) Sealodge A5, purchased for $225,500 in 7/01 reduced for $750K to $677K. Last but not least we have Hanalie Bay Resort 9201/2/3 which went from $1.695M to $1.595M. This unit sold for $1.055M in 2/04.

Here is your Princeville house update for this past week:

Copyright 2/21/2009 by Hawaii Information Service

NEW LISTINGS
220820 RS A 4 4-5-4-13-40 FS $1,075,000 3618 Keoniana Rd 12,013 sqft 3,081 4/3.5

BACK ON THE MARKET
218263 RS A 87 4-5-4-18-22 FS $598,000 4163 Kalani Pl 9,802 sqft 1,755 2/2
220949 RS A 7 4-5-4-20-14 FS $1,395,000 5118 Iolani Pl 19,012 sqft 3,918 4/3.5

WITHDRAWN
219075 RS W 67 4-5-4-19-25 FS $1,099,000 5137 Napo’okala Cir 15,482 sqft 2,288 3/2
217234 RS W 111 4-5-4-19-2 FS $1,475,000 5074 Napookala Cir 23,703 sqft 3,138 4/3.5

PRICE CHANGES
203978 RS A 457 4-5-3-11-41 FS $1,375,000- 4120 Aloalii Dr 9,103 sqft 2,521 3/3.5
218263 RS A 87 4-5-4-18-22 FS $598,000- 4163 Kalani Pl 9,802 sqft 1,755 2/2
219148 RS A 67 4-5-4-15-16 FS $664,900- 3834 Haulani Pl 11,020 sqft 2,048 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.

This time of the year you’ll hear the shrill squeals of the Laysan albatross as they do their mating dance in an effort to find their lifelong partner. Their dance ritual consists of clacking their beaks, head bobbing, pointing their beaks skyward (as they make the aforementioned shrill sound) and walking around each other bobbing, weaving and almost intertwining their necks. It’s really fun to watch and has taken place several times within the past week here on the bluffs at the Cliffs. Most of these birds seem very comfortable around people so if you keep a respectful distance you can enjoy the dance too. The picture below was taken from my lanai. If I hear any more courting calls I’ll try to get more photos of the dance itself.

In the meantime, don’t forget to call or email before you buy or sell. Get the facts. It’s a fascinating market out there, with plenty to choose from and much to consider. If you’ve been thinking about buying or selling, now is still a good time!

Aloha Elaine

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 23rd, 2009