Princeville Condo (and house) update for the week of Sep 20th to 26th
Aloha,
They finally finished up the sidewalks at the Cliffs and what a difference. It looks great. Renovation of buildings 7, 8 and 9 continues which means there’ll be plenty of parking space for the next few weeks. It’s pleasantly deserted while they do the work with only those people like myself, who own whole units, in residence. For those of you who don’t know, the Cliffs at Princeville not only has whole ownership but there are also two timeshare organizations in here. I have timeshare above and below me (I’m on the second floor) and enjoy my rotating neighbors.
Also this week, the St. Regis Princeville Resort Hotel had a soft opening Saturday the 26th. Only the restaurants and hotel rooms are open – no stores will be open until after the first of the year. I opted to stay away but will check it out over the next day or two and will include some pictures of what I find. Can’t wait to see what $38M will do for a place.
It’s been slow the last few weeks, which is normal for this time of the year. There’s usually not a whole lot of activity between when kids go back to school and the holiday season. Nevertheless, I’ve actually been surprised at some of the properties that have NOT gone into escrow, as I think there are some great bargains out there right now. Take Nihilani 19B for example at an unbelievable $425K as a short sale. It’s not the best location, being right on the corner of Ka Haku and Pepelani Loop and in front of the speed bump, but my goodness, $425K for a condo of that quality is unheard of. If I had a beer budget and champagne taste, I’d take a good long look at this unit. While you may have a bit more noise than a unit in the interior of the complex, you cannot beat the price. And keep in mind, when we talk about noise, it is by Kauai and Princeville standards which is not the same thing as “mainland noise.” No freeways or 4 lane residentail roads here!
I’m also suprised that my Pu’u Po’a 404 is still available. Compared to recent sales, this just seems like a no brainer if you want a top floor ocean view condo. Pu’u Po’a offers great square footage making it suitable for vacation rental or as a primary residence. There’s several other units here and there that I would have thought would be in escrow by now, but buyers seem to think this market will last forever, and are waiting for…..I’m not quite sure what. I’ve said it before and I’ll continue saying it – while there are many properties on the market, there are very few that you, as a buyer, will like well enough to buy. If you are fortunate enough to find something, it seems to me that it’s better to pay a little more and get that unit instead of waiting for the absolute bottom of the market (how you’re going to determine that at the time, I don’t know) and end up with a good price on a unit that leaves you unimpressed. On to your update:
Copyright 9/27/2009 by Hawaii Information Service
NEW LISTINGS
227781 T A 1 4-5-4-5-16-9 FS $477,000 Alii Kai At Hanalei #2101 1,086 #2101 2/2
227567 T A 5 4-5-4-5-16-6 FS $550,000 Alii Kai At Hanalei #1202 1,086 #1202 2/2
BACK ON THE MARKET
208900 T A 514 4-5-4-5-4-12 FS $497,000 Ka’eo Kai Ph I #2B 2,100 #2B 3/3
SALES
222343 SH S 155 4-5-4-5-23-23 FS $150,000 Plantation At Princeville #621 1,318 #621 3/3
SOLD 9/21/2009 for $150,000 (A/S, CASH) DOM 155
UNDER CONTRACT
215869 T U 376 4-5-4-5-23-16 FS $449,900 Plantation At Princeville #422 1,318 #422 3/3
EXPIRED
216359 T X 365 4-5-4-5-24-68 FS $575,000 Nihilani At Princeville Resort #23B 1,406 #23B 2/2
PRICE CHANGES
227816 SH A 9 4-5-4-15-21-28 FS $198,000+ Sandpiper Village I #128 1,042 #128 2/2
226523 T A 52 4-5-4-5-4-5 FS $219,000- Princeville Mauna Kai #5A 1,503 #5A 2/2
226124 T A 62 4-5-4-5-3-3 FS $239,700- Princeville Paniolo #103 1,058 #103 1/2
222233 T A 114 4-5-4-5-39-45 FS $250,000- Cliffs At Princeville #2205 917 #2205 1/2
227263 T A 23 4-5-4-5-24-46 FS $499,000- Nihilani At Princeville Resort #16A 1,406 #16A 2/2
222114 T A 199 4-5-4-6-1-25 FS $759,000- Villas Of Kamalii #25 1,825 #25 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.
Both new listings this week are in Ali’i Kai: unit 2101 listed for $477K and 1202 listed at $550K. This is the first time both have been listed since they last changed hands. For unit 2101, that was in 11/04 when it sold for $451K. Unit 1202 sold for $135K back in 6/89.
Unfortunately, Ka’eo Kai 2B,which last sold for $240K in 4/01, is back on the market after going under contract on 8/21. It’s always painful to see a unit in escrow fall out – let’s hope a new buyer comes along quickly as it did for Plantation 422, a bank REO that fell out of escrow on 9/04 but is now back under contract this week. Let’s hope the second time is a charm. 422 was purchased for $738K in 11/05 and taken by the bank in 6/08. This is a great top floor interior Plantation unit that just needs TLC and new appliances!
The only unit to close this week was another Plantation, unit 621 which sold yet another fractional share for $150K. This makes for two shares sold, with another currently in escrow and three remaining segments. Shares were previously priced at $180K back in 1/08 to 1/09. Nihilani 23, a resale listed at $575K expired this week. This unit sold from the developer on 11/06 for $685,160.
There were a few price changes this week along with a couple of “price manipulations” – small incremental changes made solely for the purpose of keeping the unit on the update page. The fractional share of Sandpiper 128 is one of those, going from $195K to $198K. This unit sold as a whole unit in 6/05 for $490K. Mauna Kai 5A, a bank REO, continued down going from $239K to $219K. This unit was foreclosed on in 7/09 and last sold for $200K in 8/02. Paniolo 103 which was purchased for $184,900 in 7/09 had an incremental change from $239,709 to $239,700. Cliffs 2205, a short sale purchased for $425K in 10/06 reduced from $265K to $250K. Nihilani 16A, purchased for $603,600 in 5/06 reduced from $548,500 to $499K. This is still high for the one story bottom floor Moana floor plan but it’s getting there. These are the Nihilani units currently on the market. There are a few other developer units that are available but are not currently listed:
Copyright 9/27/2009 by Hawaii Information Service
225956 T A 17 4-5-4-5-24-56 FS $425,000 Nihilani At Princeville Resort #19B 1,567 #19B 2/2.5
210598 T A 501 4-5-4-5-24-8 FS $485,000 Nihilani At Princeville Resort #3B 1,567 #3B 2/2.5
227263 T A 23 4-5-4-5-24-46 FS $499,000 Nihilani At Princeville Resort #16A 1,406 #16A 2/2
226115 T A 349 4-5-4-5-24-50 FS $517,000 Nihilani At Princeville Resort #17B 1,567 #17B 3/2.5
220974 T A 229 4-5-4-5-24-63 FS $599,000 Nihilani At Princeville Resort #21C 1,972 #21C 2/3
227167 T A 30 4-5-4-5-24-74 FS $599,000 Nihilani At Princeville Resort #25B 1,567 #25B 2/2.5
210699 T A 507 4-5-4-5-24-31 FS $620,000 Nihilani At Princeville Resort #11A 1,406 #11A 2/2
225391 T A 90 4-5-4-5-24-2 FS $639,000 Nihilani At Princeville Resort #1B 1,874 #1B 3/2.5
210691 T A 569 4-5-4-5-24-44 FS $648,000 Nihilani At Princeville Resort #15B 1,874 #15B 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.
Villas of Kamali’i 25 the final reduction, went from $795K to $759K and last sold for $625K in 3/04.
Here is your Princeville home update:
Copyright 9/27/2009 by Hawaii Information Service
WITHDRAWN
222510 RS W 134 4-5-4-23-76 FS $729,000 3789 Mapuana Pl 6,398 sqft 1,535 3/2.5
TEMPORARILY WITHDRAWN
220108 RS T 197 4-5-4-16-19 FS $689,000 4064 Kaa’humanu Pl 12,058 sqft 2,274 3/2
PRICE CHANGES
221684 RS A 212 4-5-4-9-49 FS $2,195,000- 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.
Saturday we went down and applied for a marriage license at Pono Market. That’s right, at Pono Market in Kapaa. If you have not been to this store, you owe it to yourself to visit. It is the most amazing place. Long ago, I worked a few doors down at Jim Saylor Jewelers, and this coupled with Pono Market was just about all that was needed to get married. At Pono, not only can you get your marriage license but you can also cater your wedding right out of their deli case, pick up a few lei’s for the bridal party (yes, they have those too) and you’re good to go. Grab your marriage officiant and you too can be married in paradise.
Ken helped us with everything, then asked if we wanted our picture taken so he could add it to his wall of “people who’d bought their license at Pono.” I always knew Pono has everything and sitting there Saturday, watching the parade of people coming in and out, just confirmed it. If you like local food, this is the place to go. Me, I love the manju which is a floured confection with a yummy filling. They usually have sweet potato (my favorite) or apple — You’ll find it on the counter by the cash register. If you need sunscreen or ice cream, or who knows what, you can find it all here. Next time you’re in town, take a minute and go in. It’s located in old Kapaa town, next to Pono Cleaner and Tropical Tantrum. (great place for Island dresses ladies!) A trip to Pono Market is an island tradition not to be missed. Thanks Ken!
Have a great week.
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: http://blogs.alohaliving.com/princeville-condo-sales/
……you can have your own piece of paradise
ask me how!
Leave a Comment