Princeville Condo Sales » General

Princeville condo (and house) update for the week of Nov 1st to 7th

Elaine Schaefer — Mon, 09 Nov 2009 01:32:41 +0000

Aloha,

It was a relatively quiet week with periods of pouring rain. Activity remains relatively slow as you’ll see from this weeks update. The renovation of the timeshare units at the Cliffs is almost complete which means we’ll have guests returning to buildings 7, 8 and 9 which will eliminate the favorable parking spots I’ve become accustomed to during the renovation. For those of you unfamiliar with the Cliffs, in addition to whole ownership, there are two timeshare associations that are also here. I have a second floor unit and am happy to have timeshare above and below me. The reasons I like timeshare neighbors are 1) They seldom have big family fights as they are here on vacation; 2) They aren’t dragging a bunch of other people into the unit because they don’t know anyone else and 3) They don’t stockpile food (and attract bugs) because as I said before, they are only here for a week.

I also like living with timeshare because the grounds and common area building are always in great condition, after all, guests are only here for a week so everything has to look good pretty much all the time. However, for a “whole unit” buyer, lending is tricky because the Cliffs is a condhotel, has leasehold and fee simple units the majority of which are timeshare. On to your update:

NEW LISTINGS
229139 T A 2 4-5-4-5-17-15 FS $369,000 Alii Kai Ii Hanalei #9G 1,037 #9G 2/2
228973 T A 6 4-5-4-12-8-24 LH $449,000 Pali Ke Kua Ii #130 1,100 #130 2/2
229003 T A 3 4-5-4-5-24-8 FS $485,000 Nihilani At Princeville Resort #3B 1,567 #3B 2/2.5
229125 T A 2 4-5-4-5-16-33 FS $785,000 Alii Kai At Hanalei #4301 1,086 #4301 2/2
227902 T A 3 4-5-4-6-1-27 FS $845,000 Villas Of Kamalii #27 1,815 #27 3/3
228874 T A 6 4-5-4-5-16-24 FS $940,000 Alii Kai At Hanalei #3204 1,085 #3204 2/2

CONTINGENT SALES
204804 T C 514 4-5-4-5-39-33 FS $230,000 Cliffs At Princeville #2103 917 #2103 1/2

SALES
211781 T S 408 4-5-4-5-3-24 FS $324,900 Princeville Paniolo #211 1,058 #211 1/2
SOLD 11/4/2009 for $300,000 (CNV) DOM 408

219219 T S 327 4-5-4-5-30-20 FS $325,000 Princeville Mauna Kai #D302 1,488 ##25 3/2
SOLD 11/3/2009 for $350,000 (CNV) DOM 327

EXPIRED
225541 T X 122 4-5-4-12-11-46 FS $1,095,000 Puu Poa #404 1,352 #404 2/2

WITHDRAWN
217907 T W 342 4-5-3-6-22-27 FS $1,795,000 Kaiulani Of Princeville #27 2,864 #27 3/3.5

TEMPORARILY WITHDRAWN
226309 T T 96 4-5-4-15-21-23 FS $325,000 Sandpiper Village I #123 1,042 #123 2/2

PRICE CHANGES
222635 T A 184 4-5-4-5-12-19 FS $349,999- Sealodge Ii #H1 556 #H1 1/1

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 6 new listings only 2 are actually new to the market. Ali’i Kai 9G, listed at a new lower price of $369K was purchased for $151K in 12/99, and was listed from 7/05 to 1/06 for $615K and again from 2/06 to 9/09 starting at $629K and reducing to $380K. The agent owned leasehold Pali Ke Kua 130 was purchased for $429K in 3/06 and is back this time listed at $449K. This unit was previously listed from 8/06 to 5/07 starting at $699K and reducing to $649K, from 6/07 to 6/08 during which time it went from $649K to $575K and once again from 7/08 to 9/09 starting at $575K. It reduced to $399K at one point before going back up to $449K which is where it expired.

Nihilani is now allowing some of the resale agents to list their developer units in the hope that it will create more interest and greater exposure. That’s the case with Nihilani 3B, currently listed for $485K with an agent who is not with Brookfield. This unit was previously listed by the Brookfield agents from 7/07 to 1/08 starting at $700,500 and reducing to $699K and was also listed from 4/08 to 10/09 with a high list price of $686,200 ending at $485K. Ali’i Kai 4301 last sold for an all time high of $1,157,500 on 6/06 and is now listed for $785K. It was previously listed from 9/08 to 9/09 starting at $919K and reducing to $895K. It is not showing as a short sale. Villas of Kamali’i 27 is back on the market as a new listing at the old price of $845K. It was listed at this price from 10/08 to 10/09. Ali’i Kai 3204 is the only other “new” listing at $940K. This unit last sold for $365K on 8/02.

One of the “lender approved” short sales went into escrow this week: Cliffs 2103 listed for $230K after 513 days on the market. Some of you have asked why it takes so long for a unit to go into escrow when the price seems so reasonable. This unit was first listed from 4/05 to 11/05 starting at $560K and dropping to $539K before being withdrawn. It came back on the market in 12/05 listed for $539K and reduced to $529K before expiring in 8/06. It was listed again from 2/07 to 3/07 for a low of $475K and was withdrawn while listed at $485K. This most recent listing started out at $495K in 12/07 and kept reducing until it reached the price of $230K on 7/09, gaining short sale approval from the bank at that price on 9/09. So although it may appear as if it’s been sitting as an approved short sale all this time, that is not the case.

Paniolo 211, listed for $324,900 closed at $300K after 408 days on the market. Purchased in 12/89 for $125K this unit started out at $427K when it first came on the market. Mauna Kai 25, purchased in 8/07 for $585K and listed as a short sale for $325K closed at $350K. This unit started out at $524,500 327 days ago.

My Pu’u Po’a 404 listing expired this week priced at a very favorable $1.095M. This unit last sold for $325K in 7/91. Ka’iulani 27, purchased for $1,652,100 in 8/07 was withdrawn from the market listed at $1.795M after 342 market days. Sandpiper 123 listed for $325K and purchased for $359K in 8/04 was temporarily withdrawn from the market. Surprisingly, we are setting a new record this week in price changes in that there is only, but it’s a very good one on Sealodge H1 which went from $499K to $349,999. Purchased in 8/05 for $560K this unit does not appear to be a short sale.

On to your Princeville home update:

NEW LISTINGS
228923 RS A 3 4-5-4-9-42 FS $1,200,000 4184 Kekuanaoa Ln 13,913 sqft 2,940 3/3.5

BACK ON THE MARKET
209942 RS A 551 4-5-4-8-9 FS $999,000 3887 Punahele Rd 11,139 sqft 3,246 4/3

EXPIRED
224783 RS X 150 4-5-4-13-37 FS $1,875,000 3584 Kaweonui Rd 14,685 sqft 3,500 4/3.5

WITHDRAWN
208122 RS W 618 4-5-4-7-19 FS $1,135,000 3928 Punahele Rd 9,999 sqft 1,694 3/2

PRICE CHANGES
226182 RS A 103 4-5-4-16-7 FS $795,000- 5029 Emmalani Dr 10,500 sqft 3,304 4/3
227098 RS A 73 4-5-4-18-45 FS $820,000+ 4165 Kamalani Ln 10,235 sqft 2,405 3/3.5
224404 RS A 165 4-5-4-14-4 FS $998,000- 3792 Keli’i Pl 10,481 sqft 2,523 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.

That’s it for this week. Please do not hesitate to call or email with any questions. I spend a good part of my life on the computer trying to keep buyers and sellers up to date – in other words, that’s why I’m here so contact me and I’ll fill you in on the history be it a condo, house or land anywhere on the Island. Have a great week! And for those of you who asked, no I am not changing my last name now that I am married.

Aloha Elaine

Sting ray seen from our boat in Bora Bora. Can you believe how clear the water is?

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!

Pu’u Po’a 404 and the Cliffs

Elaine Schaefer — Thu, 24 Sep 2009 20:41:50 +0000

Aloha from Paradise,

As I sit down at my desk to work today I am not alone. Take a look at what is going on outside my door:

Yes, they’re out there pouring all the new sidewalks! They’re eveywhere:

And if that’s not enough activity for you, take a look off my back lanai where you’ll see the cement truck pumping away.

I’ll tell you what, these men work quickly and the sidewalks are shaping up in record time. If you’ve been here before you’ll be pleasantly surprised on your next visit. In addition, if you had the opportunity to look out of my kitchen window to the lawn below you’d see a pickup truck parked there. Apparently this is where all the debris from the timeshare unit below is being tossed as they do the renovation. They had the truck there the other day as they demo’d the timeshare unit above me. I enjoyed watching the vertical blinds go sailing through the air with the greatest of ease as they were tossed from above into the waiting truck.

What I’m really excited about is Pu’u Po’a 404, one of the best buys in ocean front condos on the market. Pu’u Po’a is a contemporary, modern looking complex located a few steps from the soon to reopen (Oct 1st) newly renovated St. Regis Princeville Resort Hotel. Proximity to this hotel alone makes this complex one of the most desirable if not the most desirable complex on the North Shore. But this proximity is not the only claim to fame for this complex. It also offers unparalled views of the ocean and Bali Hai.

Here are the units currently on the market:
Copyright 9/24/2009 by Hawaii Information Service

225541 T A 80 4-5-4-12-11-46 FS $1,095,000 Puu Poa #404 1,352 #404 2/2
222345 T A 188 4-5-4-12-11-3 FS $1,179,000 Puu Poa #103 1,354 #103 2/2
202256 T A 684 4-5-4-12-11-7 FS $1,450,000 Puu Poa #107 2,065 #107 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.

As you can see, Pu’u Po’a 404 is very well priced at $1.095M. This condo has been renovated and remodeled to include new cherry kitchen and bathroom cabinets, durable Silestones kitchen countertops and marble bathroom vanity countertops, stainless steel kitchen appliances, new water heater and plumbing supply lines, the cottage cheese ceiling was removed, refinished and repainted along with the rest of the unit and new ceiling fans were installed along with new light switches. The unit is partially furnished with everything but dining room furniture and chairs for the breakfast bar. A few pictures on the walls and you’re ready to go.

What makes Pu’u Po’a so special are the views. Take a look at what your view is from every room but the second bedroom:

These are all the units that have sold since 1/1/09:

208628 T S 362 4-5-4-12-11-55 FS $1,099,000 Puu Poa #413 1,777 #413 2/2
SOLD 4/24/2009 for $1,000,000 (CASH, CNV) DOM 362

217448 T S 101 4-5-4-12-11-15 FS $1,300,000 Puu Poa #201 1,359 #201 2/2
SOLD 4/8/2009 for $825,000 (CNV) DOM 101

222524 T S 59 4-5-4-12-11-53 FS $1,500,000 Puu Poa #411 1,777 #411 2/2
SOLD 7/7/2009 for $1,300,000 (CASH) DOM 59

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

As you can see, the last sale was for $1.3M on July 7, 2009. The sale of unit 201 for $825K was a great price but was for a unit in pretty much original condition which overlooks the pool. Pu’u Po’a 404 is a top floor unit offering unparalled views with an exceptional location. Don’t miss out on this unit. If you’d like to have a look at the interior and additional views. click on this link for a super slideshow. http://www.photoshow.com/watch/Nv7ZH8MI

Vacant and on lockbox, Pu’u Po’a is easy to view. Just give me a call or call your agent for a showing. Don’t let this opportunity pass you by.

Aloha Elaine

……you can have your own piece of paradise
ask me how!

August 2009 Market Statistics

Elaine Schaefer — Thu, 03 Sep 2009 02:22:38 +0000

Aloha,

Ok, so it wasn’t a blazing hot summer selling season. We’ve experienced those in the past and this month was not it. Nevertheless, we did see some buyers pick up some nicely priced properties throughout the Island this past month, in fact, 43 properties changed hand in Aug 09 compared to only 42 in Aug 08. We are definitely down for the year to date with 305 having sold so far compared to 431 last year this time. Just to give you an idea of years past, in 07 year to date there were 680 sales, 06=1160 transactions, 05=1180 and year to date 2004 there were 1168 sales. Plenty of room for improvement which I’m sure will occur over the next few years.

Of the 43 properties that sold, 22 were residential, 6 land, and 15 were condos. Waimea zone had 3 residential sales, Koloa zone saw 2 residential sales, 1 land sale, and 3 condo sales, Lihue had 3 homes, 1 land and 3 condos, Kawaihau had 8 houses sell, 2 land and 2 condos and Hanalei had 6 homes sell, 2 land sales and 7 condos.

Of course, sales volume was also down with August 09 posting $21M in sales compared to $35M in Aug 08. These numbers pale in comparison to years past with $50M in sales for Aug 07, $70M in Aug 06, $124M in Aug 05 and only $95M in Aug 04. Year to date sales for Aug 09 are $189M compared to $365M this time last year, $586M for year to date Aug 07, $769M for year to date 06, $805M in 05 and $652M in 04.

Yes, we have seen more active times but keep in mind, those days will eventually return, leaving many a buyer out in the cold when it comes to their ability to buy. It’s a slow market but it’s also the very best time to get your foot in the door. Just think if you were a seller, you’d probably lay out the red carpet to get a buyer to your door if you really want to sell. “Really want to sell” is the operative word here because there are still too many sellers who seem to think the market doesn’t apply to them. Why they don’t just take their properties off the market instead of continuing to live in the dream world that someone will come along and give them above market value is beyond me. But I’ll save that for another time. To continue….

As you might expect, median sales price is also down. Residential median for Aug 09 was $478K, for 08 it was $530K, 07=$624K, 06=$780K, 05=$644K and 04 was $507K. Keep in mind we are talking median and not average pricing here. Here is the list of homes which sold this past August, which resulted in the median price of $478K:

Copyright 9/2/2009 by Hawaii Information Service
219935 4914 Aliali Rd #5 8/31/2009 $213,741
221776 4836 Puuwai Rd #A 8/4/2009 $290,000
225839 4871 Iiwi Road #B 8/26/2009 $313,000
223522 3834 Koula Rd 8/13/2009 $330,000
224729 2305 Liliuokalani St 8/7/2009 $362,500
224618 6420 Kawaihau Rd #1 8/7/2009 $364,000
223177 1614 Kuahale St 8/12/2009 $365,000
223411 3295 Kilikina Pl 8/7/2009 $370,000
194517 4486 Komohana Pl 8/17/2009 $371,000
219579 2420 Liliuokalani St 8/17/2009 $450,000
224464 9490 Keolewa St 8/14/2009 $471,000
224573 4155-A Kawili St #1 8/28/2009 $485,000
221590 4413 Kai Ikena Dr 8/10/2009 $515,000
195358 337 Eggerking Rd 8/3/2009 $526,000
220055 8664 Elepaio Rd 8/31/2009 $528,000
224630 182 Lihau St 8/13/2009 $539,000
216585 Kolo Rd 8/4/2009 $580,000
226592 6255 Hauiki Rd #1 8/7/2009 $680,000
210609 6969 Holopono Pl 8/18/2009 $1,050,000
214070 4460 Aku Rd 8/26/2009 $1,075,000
211867 6242 Kahiliholo 8/14/2009 $1,600,000
201513 2380-C ‘iwalani Ln 8/12/2009 $2,100,000

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

Median sales price for condos this August was $300K, Aug 08 was $299K, 07=$587K, 06=$452, 05=$467K and 04=$349K. Here is the list of condos which resulted in the $300K median sales price:

Copyright 9/2/2009 by Hawaii Information Service
225346 Islander On The Beach #321 8/7/2009 $129,900
225705 Plantation Hale #A9 8/7/2009 $145,000
210709 Kiahuna Plantation #439 8/28/2009 $160,000
193285 Kiahuna Plantation #404 8/14/2009 $170,000
219991 Banyan Harbor #65 8/7/2009 $217,500
226674 Banyan Harbor #108 8/12/2009 $275,000
220199 Kamahana #4 8/12/2009 $276,000
221360 Hale Moi #216 8/26/2009 $300,000
223488 Sandpiper Village I #130 8/26/2009 $300,000
218270 Kiahuna Ph Ii #111 8/24/2009 $330,000
211884 Regency Huleia #75 8/26/2009 $340,000
221018 Sealodge Ii #J1 8/6/2009 $585,000
209062 Nihilani At Princeville Resort #17C 8/18/2009 $640,000
210693 Nihilani At Princeville Resort #10A 8/14/2009 $645,000
221737 Pali Ke Kua Ii #228 8/12/2009 $725,000

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

I’m happy to report that I contributed to the count this August on both the sale of a condo, Hale Moi 216 for $300K as the list agent and the sale of a house, 4871 Iiwi for $313K as the buyer’s agent. For a complete review of this month’s market statistics click here to go to my website, www.kauairealestatenow. You’ll find the monthly market statistics tab along the left side of the website. Until next month, happy house buying and selling.

Aloha Elaine

A wild orchid on the Moalepe trail

……you can have your own piece of paradise
ask me how!

Princeville Condo (and House) update for August 23rd to 29th

Elaine Schaefer — Tue, 01 Sep 2009 01:17:24 +0000

Aloha,

Although the first day of fall isn’t until September 22, for all intents and purposes the summer selling season has come to an end with a whimper! Yes a whimper! Sure we had some sales but not nearly enough to even begin to consider this a hot summer season. Buyers continue to stand on the sidelines waiting to see what will happen next. Unfortunately, at the same time Fannie Mae and Freddie Mac continue to change guidelines which results in more “hoop jumping” when it comes to obtaining a loan, unless, of course, you are a first time home buyers which seems to be where the financial incentives and benefits are focused on at this time. Let’s just hope when buyers finally think pricing is where they want it, the lenders are still interested in lending. Here is your update:

NEW LISTINGS
222149 T A 5 4-5-4-5-18-1 FS $325,000 Puamana #1A 1,312 #1A 2/2
226998 T A 4 4-5-4-12-2-39 FS $349,000 Hale Moi #219 1,033 #219 1/2
208369 T A 5 4-5-4-5-39-127 FS $525,000 Cliffs At Princeville #5205 917 #5205 1/2
227167 T A 3 4-5-4-5-24-74 FS $599,000 Nihilani At Princeville Resort #25B 1,567 #25B 2/2.5
211272 T A 5 4-5-4-5-16-35 FS $795,000 Alii Kai At Hanalei #4303 1,086 #4303 2/2
227179 T A 3 4-5-4-6-1-54 FS $849,000 Villas Of Kamalii #54 1,767 #54 3/3
226466 T A 5 4-5-4-5-16-36 FS $940,000 Alii Kai At Hanalei #4304 1,086 #4304 2/2

CONTINGENT SALES
220078 T C 220 4-5-4-5-3-19 FS $239,000 Princeville Paniolo #204 1,058 #204 1/2

SALES
221360 T S 148 4-5-4-12-2-36 FS $345,000 Hale Moi #216 1,033 #216 2/2
SOLD 8/26/2009 for $300,000 (CASH) DOM 148

223488 T S 64 4-5-4-15-21-30 FS $349,000 Sandpiper Village I #130 1,042 #130 2/2
SOLD 8/26/2009 for $300,000 (CNV) DOM 64

UNDER CONTRACT
209244 T U 448 4-5-3-6-22-63 FS $894,000 Kaiulani Of Princeville #63 1,901 #63 2/2.5

WITHDRAWN
204980 SH W 562 4-5-4-5-23-28 FS $175,000 Plantation At Princeville #722 1,318 #722 3/3
212672 SH W 654 4-5-4-12-11-7 FS $297,500 Puu Poa #107 2,065 #107 2/2
226710 T W 268 4-5-4-5-23-30 FS $445,000 Plantation At Princeville #812 1,153 #812 2/2
183699 T W 1,092 4-5-4-5-23-25 FS $619,000 Plantation At Princeville #711 1,153 #711 2/2

TEMPORARILY WITHDRAWN
217010 SH T 311 4-5-4-6-1-49 FS $230,000 Villas Of Kamalii #49 1,825 #49 3/3
217215 SH T 311 4-5-4-6-1-49 FS $245,000 Villas Of Kamalii #49 1,825 #49 3/3
200456 T T 722 4-5-4-12-11-14 FS $1,425,000 Puu Poa #114 2,065 #114 2/2

PRICE CHANGES
225703 T A 52 4-5-4-15-21-34 FS $265,000- Sandpiper Village I #134 1,042 #134 2/2
200564 T A 14 4-5-4-5-16-2 FS $498,000- Alii Kai At Hanalei #1102 1,086 #1102 2/2
222635 T A 115 4-5-4-5-12-19 FS $499,000+ Sealodge Ii #H1 556 #H1 1/1
218310 T A 224 4-5-4-12-5-9 FS $719,900- Pali Ke Kua Incr I, ii, iii #109A 717 #109A 1/1
220840 T A 177 4-5-4-6-1-33 FS $879,000+ Villas Of Kamalii #33 1,825 #33 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.

Puamana 1A is a re-entry to the new listing catagory, having been previously listed from 11/06 to 2/07, starting at $588K and reducing to $545K, and again from 6/08 to 1/09, during which time it went from $515K to $440K. This time around it is listed for $325K, and will still yield a capital gain should it sell anywhere near this price, as the seller paid $157K for the unit in 7/01. Also back on the market for another try is Hale Moi 219, currently listed for $349K and last selling for $493K in 3/05. This short sale was previously listed from 12/08 to 4/09 starting at $539K and reducing to $493K. Cliffs 5205, which last sold for $600K in 6/05 is new on the market listed at $525K. Nihilani 25B, purchased for $776K in 12/06 is listed at $599K for the two bedroom, 2.5 bath Moana floor plan. Ali’i Kai 4303, which sold in 12/03 for $490K is listed for $795K. Villas of Kamali’i 54, which was listed from 5/06 to 1/07 for $1.185M before reducing to $1.095M is new this week at $849K. This unit sold for $607,500 in 11/03. The final new listing is Ali’i Kai 4304, priced at $940K. This unit was purchased for $541,500 in 2/04.

To offset all those new and returning listings, we had one unit go into escrow this past week: Paniolo 204 listed at $239K. This short sale last sold for $337,500 in 6/04. Two unit closed escrow one of which is Hale Moi 216. Purchased in 3/05 for $460K, and listed for $345K this unit ended up providing a tax write off by selling for $300K. Sandpiper 130 also closed for $300K while listed for $349K. It last sold for $238K in 6/03.

Ka’iulani 63, an agent owned unit purchased for $975K in 3/08 went under contract listed at $894K and will undoubtedly also be a tax write off.

Several units were withdrawn, a couple of which were fractional shares. Plantation 722 listed for $175K and Pu’u Po’a 107, listed for $297,500 both which were for 60 days of ownership, are now off the market. Plantation 812, purchased for $729K in 6/06 withdrew after 268 days as did Plantation 711 after a mere 1,092 days on the market. This unit sold for $455,402 in 9/05.

Two fractional share of Kamali’i 32 were temporarily withdrawn while listed at $230K and $245K. This unit sold for $509,400 in 10/03. Pu’u Po’a 114, listed for $1.425M and purchased for $1.4M in 3/05 was also temporarily taken off the market.

As for price changes, Sandpiper 134, which last sold for $485K in 7/05 reduced from $275K to $265K as a short sale. Ali’i Kai 1102, purchased for $100K in 11/87, reduced from $525K to $498K. Sealodge H1 went the other way, with an optimistic price increase of $100K, going from $399K to $499K. This cancels out a price reduction on 6/14 when the price went $100K the other way – from $499K to $399,999. This unit last sold for $560K in 8/05. Pali Ke Kua 109 finally posted a respectable reduction after approximately 2 months of reducing by $500 a day. Purchased in 12/03 for $621,400, this unit reduced from $799K to $719,900. The seller of Villas of Kamali’i 33 apparently changed their minds on their price change. Purchased in 7/04 for $649K, this unit shows as reducing from $879K to $719,900 and back up again to $879K on 8/24. And that’s it for this past week. Now on to your Princeville homes update:

NEW LISTINGS
227009 RS A 5 4-5-3-12-3 FS $1,988,800 4043 Aloalii Dr 8,972 sqft 3,588 3/3.5
227098 RS A 4 4-5-4-18-45 FS $697,000 4165 Kamalani Ln 10,235 sqft 2,405 3/3.5

CONTINGENT SALES
223366 RS C 136 4-5-4-15-1 FS $471,900 3995 Kamehameha Rd 10,244 sqft 2,117 3/2

EXPIRED
221534 RS X 161 4-5-4-13-48 FS $799,000 3677 Keoniana Rd 11,432 sqft 2,066 3/2.5

PRICE CHANGES
210722 RS A 488 4-5-4-18-7 FS $850,000- 4170 Mahina Pl 10,751 sqft 2,310 2/3.5

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

Enjoy the rest of your summer. I did, with a return hike in Kapaa along the Moalepe trail which connects to the Kailau trail ending at a great swimming hole by the arboretum. Great views along the way.

Aloha Elaine

……you can have your own piece of paradise
ask me how!

Princeville condo (and house) update for the week of August 16th to 22nd

Elaine Schaefer — Sun, 23 Aug 2009 20:24:33 +0000

Aloha,

It’s been a relatively slow week which is reflected in the rather sparse condo update this week. There’s been a few showings here and there but by and large, it seems like things have quieted down as we approach the end of summer. So much for a hot summer market! The reality is that the market is still soft, with numerous overpriced properites, several good buys and buyers sitting on the sidelines in both cases. Of course, there are some exceptions, but slow is (unfortunately) the operative word right now. Here is your update for this past week:

NEW LISTINGS
200564 T A 6 4-5-4-5-16-2 FS $525,000 Alii Kai At Hanalei #1102 1,086 #1102 2/2
226784 T A 2 4-5-4-6-1-12 FS $839,000 Villas Of Kamalii #12 1,825 #12 3/3
226738 T A 6 4-5-4-5-16-42 FS $874,000 Alii Kai At Hanalei #5202 1,086 #5202 2/2

SALES
209062 T S 421 4-5-4-5-24-51 FS $695,000 Nihilani At Princeville Resort #17C 1,874 #17C 3/2.5
SOLD 8/18/2009 for $640,000 (CASH) DOM 421

UNDER CONTRACT
208900 T U 508 4-5-4-5-4-12 FS $497,000 Ka’eo Kai Ph I #2B 2,100 #2B 3/3

PRICE CHANGES
223270 T A 130 4-5-4-5-27-19 FS $275,000- Hale Honu #10A 1,085 #10A 3/2
224707 T A 69 4-5-4-12-2-16 FS $280,995- Hale Moi #116 1,033 #116 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.

Ali’i Kai 1102 is the first new listing this week, priced at $525K. This owner looks like one of the “originals” as the unit was purchased back in 11/87 for $100K. This is the first time on the market since that time. Villas of Kamai’i 12 is back on the market listed at $839K. This is quite a bit less from the previous list price of $900K when it was listed from 3/08 to 3/09. It was also listed from 3/09 to 7/09 for $875K. This unit last sold for $750K in 6/05. Ali’i Kai 5202 is the final new listing at $874K. This unit sold for $405K in 7/03 and was previously listed from 9/06 to 2/07 for $1.195M before it was withdrawn with 120 market days.

Nihilani 17C, purchased from the developer in 8/06 for $822,870 sold for $640K after 421 days on the market. This agent owned unit started out at $875K and slowly reduced, reaching the list price of $695K in 11/08. This is a surprisingly good price for this unit considering that 14A just went into escrow as a foreclosure listed at $489,900 and 22C is in escrow listed at $565K. All three of these units are the same Makani floor plan.

Ka’eo Kai 2B, listed for $497K finally went into escrow after 508 market days. Originally selling for $240K in 4/01, this unit started out at $650K slowly reducing over time.

As for price reductions: Hale Honu 10A purchased in 8/05 for $510, reduced this week from $325K to $275K as a short sale. Hale Moi 116, which last sold for $459K in 10/04 reduced from $297,500 to $280,995 and is also a short sale. Now on to your Princeville home update:

NEW LISTINGS
226912 RS A 3 4-5-3-12-11 FS $1,595,000 3991 Aloalii Dr 7,827 sqft 3,389 3/2.5
226863 RS A 5 4-5-4-16-79 FS $769,500 4105 Kekaulike Ln 10,408 sqft 1,700 2/2
226809 RS A 6 4-5-4-20-33 FS $799,000 3975 Punahele Rd 9,979 sqft 1,960 3/2.5
226808 RS A 5 4-5-4-23-50 FS $849,000 3788 Moae Pl 6,974 sqft 1,937 3/2

BACK ON THE MARKET
222510 RS A 103 4-5-4-23-76 FS $729,000 3789 Mapuana Pl 6,398 sqft 1,535 3/2.5
220949 RS A 166 4-5-4-20-14 FS $1,345,000 5118 Iolani Pl 19,012 sqft 3,918 3/3.5

WITHDRAWN
222745 RS W 140 4-5-4-23-35 FS $599,000 3793 Moae Pl 6,386 sqft 1,651 3/2

TEMPORARILY WITHDRAWN
215902 RS T 713 4-5-4-15-6 FS $689,000 3881 Albert Rd 11,515 sqft 1,272 3/2

PRICE CHANGES
226912 RS A 3 4-5-3-12-11 FS $1,595,000- 3991 Aloalii Dr 7,827 sqft 3,389 3/2.5
224854 RS A 72 4-5-4-19-19 FS $727,800- 5086 Napo’okala Cir 15,326 sqft 2,206 3/3
200621 RS A 729 4-5-4-21-7 FS $790,000+ 3770 Cr Kaweonui Rd/alber 10,737 sqft 2,184 3/2.5
220531 RS A 197 4-5-4-13-44 FS $799,000- 3646 Kaweonui Rd #II 10,937 sqft 2,240 3/2
220949 RS A 166 4-5-4-20-14 FS $1,345,000- 5118 Iolani Pl 19,012 sqft 3,918 3/3.5
200380 RS A 719 4-5-4-13-7 FS $1,595,000- 3687 Kaweonui Rd 11,420 sqft 3,588 4/3.5
225837 RS A 9 4-5-4-7-6 FS $1,695,000- 3932 Namakeha Lp 12,575 sqft 2,848 4/3.5

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

Lots of old/new listings, homes back on the market and price reductions but no homes went into escrow and none closed this past week. Buyer’s continue to sit (on the fence) prices continued to soften, short sales and foreclosures increase, inventory grows…..

It’s amazing – the difference in buyers now and back when it was a seller’s market. Back “then” a buyer overlooked so many things in a property for the sake of getting it into escrow and making the sale. If things were wrong, unless they were major, most buyers just asked for a little concession or they took the property as is with plans for improvements down the road. Now, it seems that most buyers want something ready to go, something that has been remodeled or updated or at the very least, is very clean and livable. Everything is closely examined, weighed and a decision made as to if the price warrants the condition of the property. The contrast is amazing.

It’s a different market, and a different type of buyer to be sure but make no mistake — it is a GREAT market. It’s a great market with wonderful pricing, lots of variety, great rates and negotiable sellers. It’s a time when a buyer can actually achieve the dream of home ownership. What could be better than that?

Before you start out on your journey to buy or sell, call or email for the facts on the property that interests you. There are some special properties out there, you just have to take the time to look. Check out Pu’u Poa 404 listed for only $1.095M! Last sale was unit 411 for $1.3M.

Aloha Elaine

I always ride Incognito with a full face helmet! I even have bluetooth capabilty so I can talk and ride!

……you can have your own piece of paradise
ask me how!

Hale Moi – Good income for the dollar.

Elaine Schaefer — Wed, 11 Mar 2009 23:18:21 +0000

Aloha,

If you are looking for a property that offers good rental income, is well priced and completely buffed out, Hale Moi 216 is for you. Listed for $395K, this property has over $50K of improvements and brings in $2100 a month! Do the numbers and you’ll see that with 20% down and our current historically low interest rates, this unit can pay for itself.

If you are not familiar with Hale Moi, it is a small complex located along Ka Haku road in Princeville. Each unit has a main door that opens to a foyer with a bedroom / bathroom on one side (B side) and a living / dining area, loft (in the upstairs units) bathroom and kitchen in the other side. (A side) Each side has a locking entry door. Many owners put a small apartment sized refrigerator and microwave in the B side and rent that side out separately from the A side. It’s also a great property if you want a full time place for yourself yet still want to generate some income. For a more spacious living area, just convert the B side back to a bedroom minus microwave and refrigerator and enjoy the entire unit yourself.

The unit has been completely renovated with new paint and carpet, new ceiling fans in both the A and B sides, new Maple kitchen cabinets and bathroom cabinets, granite tile kitchen counter tops, stainless steel appliances including a micro hood above the range and ceramic tile flooring in kitchen and bathrooms. The counter in the kitchen was lowered to create a very functional breakfast bar for casual dining which is adjacent to the dining area. There are new “Glacier Bay” bathroom vanity counter tops with new faucets and fixtures in both bathrooms and a new water heater. You can enjoy wonderful mountain and waterfall views from throughout the unit and off the back lanai with a peek of the ocean from ‘A’ side living area.

If you want to whale watch or just enjoy the ocean views, just walk across the street to the ocean or go a short distance further to Hideaways beach. Hale Moi 216 is also within walking distance of the new St Regis Princeville Resort which is currently under renovation.

This unit is fully furnished. Since Hale Moi is in a Visitor Destination Area this unit can qualify for vacation rental. This is the lowest priced and by far the nicest Hale Moi currently on the market. Here are all the Hale Moi listings:

221360 T A 13 4-5-4-12-2-36 FS $395,000 Hale Moi #216 1,033 #216 2/2
210522 T A 317 4-5-4-12-2-16 FS $419,000 Hale Moi #116 1,033 #116 1/2
209061 T A 329 4-5-4-12-2-6 FS $450,000 Hale Moi #106 1,033 #106 2/2
219471 T A 70 4-5-4-12-2-39 FS $493,000 Hale Moi #219 1,033 #219 1/2
204020 T A 468 4-5-4-12-2-28 FS $495,000 Hale Moi #208 1,033 #208 2/2
193722 T A 702 4-5-4-12-2-35 FS $529,000 Hale Moi #215 1,033 #215 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.

Here are some pictures of the unit:

Brand new kitchen with granite tile countertop and maple cabinets.

View of ocean from your parking lot. Literally just steps away.

Breakfast bar at kitchen.

New cabinets, countertops, fixtures and floor in bathroom.

Looking down into living area from loft.

Nothing but lush vegetation, mountains and waterfalls from lanai.

Walk across the street to ocean, Bali Hai, sunsets, whales and beaches.

For additional information on this or any other property, just call or email. Don’t wait too long and miss out on this great Hale Moi unit.

Aloha Elaine

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!

Pali Ke Kua on sale at $625!

Elaine Schaefer — Sat, 20 Dec 2008 02:29:46 +0000

Aloha,

It’s been awhile since I’ve seen a fee simple Pali Ke Kua in the $600’s, let alone the low $600’s but today unit 232 came back on the market at an unbelievable $625! This unit started out at $869K in 12/07, dropped to $849K in 3/08 then reduced again to $799K in 4/08. It stayed there until 9/18/08 when it went from $799K to $750K and e

September 2008 Monthly Market Statistics

Elaine Schaefer — Sat, 11 Oct 2008 03:28:42 +0000

Comparing September last year to this year, there has been an overall 35% decrease Island wide in the number of sales, which translates into 23 fewer sales this past month. Comparing year to date last year to this year, Island wide, the decrease is 36% or 274 fewer sales so far this year.

Breaking it down, there were 15 fewer residential sales this September than last, and a decrease of 32% or 109 fewer sales year to date 2008 compared to 2007. Land, however, is up from last September, with 12 sales in September 08 compared to 8 last September. Year to date land sales are down from 157 in 07 to 93 sales in 08. Condominiums are off from September 2008, with only 8 sold this past month compared to 20 last September with year to date showing a 40% decline of 97 fewer sales, from 241 to 144.

As expected, sales volume is also down, showing a 49% decrease comparing September 07 to 08 from $56M to $28M, and is down 39% year to date, with $643M invested this time last year compared to $392M year to date. Residential is down 45% comparing September 07 to 08 and down 36% year to date with $325M in sales this time last year compared to $206M this year. For September, land sales volume declined by $2.9M from $8.5M to $5.5M with year to date showing a 41% decline. Condominiums are dramatically down from a total of $13M selling last September to only $3.7M sold this September. This drop in condo sales is probably due to the developer’s Nihilani and Ka’iulani sales, both of which are in Princeville. Support of this is seen in the Hanalei district which shows a $6.4 M decline comparing September to September which is a $78% decline. Comparing year to date, the Hanalei zone fared much better with only a 32% decline going from $88M to $59M in sales.

The median sales price is, as expected, also down. In residential, we see a decline of 21% comparing September to September and 28% year to date, going form $661K to $632K. Land is up for September, going from $400K to $436 but year to date indicates a 7% decline, from $610K to $567K. Condominiums are down 16% in September going from $590K to $495K with year to date showing that condos are holding steady, with the median price the same this year as this time last year; $560K.

That’s it for this month. What with the financial meltdown we are seeing at the National level, I would expect the softness to continue on into 2009. To see the full three page Monthly Statistics report, click 2008-september.pdf or go to my website, www.kauairealestatenow.com and click on Monthly Market Statistics.

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

……you can have your own piece of paradise
ask me how!

And today’s buy of the month is….

Elaine Schaefer — Thu, 06 Dec 2007 21:18:48 +0000

I usually don’t include homes in my blog but this Princeville Golf course home earned a spot by reducing from $799K to $699K in one big $100,000 reduction. I can’t recall the last time I saw a golf course home in Princeville at $699K! Of course, this is a SHORT SALE subject to lender approval which means you may have to wait 4 to 6 weeks to find out if your offer was accepted but if you have been looking to get your foot in the door in Princeville, this home offers an excellent opportunity.

The home is on Waileia Place, which runs in back of the Princeville Shopping Center. It’s a 3 bedroom, 2.5 bath 1,928 sqft home on a 9,639 sqft golf course lot. Built in 1991, it has a shake roof with a reverse floor plan, that is, the three bedrooms are downstairs and the living area is all upstairs.

I’ve shown this house several times, most recently last week when it was still $799K. Before that it was listed as high as $999,995 back in June 2007. This seller has wasted no time in recognizing the obvious, ie, that no one was going to pay the asking price, and has reduced quickly throughout the short life of this listing. This last reduction is sure to find this home a buyer.

It does need work but it is clean and in relatively good condition. The floor plan could use some restructing downstairs and bathrooms and kitchen updated. Paint is dark throughout but that is an easy fix. The home is tiled throughout and actually has a beautiful combination of tile with wood trim on the stairs. Of course the view is fabulous! If you are interested in this home, please call or email ASAP as I do not expect it to be on the market for long at this price.

Now for some pictures of this new reduction and the second least expensive home in Princeville, not to mention on the golf course! (the least expensive is $690K for a 2 bedroom, 2 bath home with 1,599 sqft built in 1979.)

Here is the great view from the upstairs lanai:

This is the house as seen from the street:

This is the house as seen from the golf course:

Here is a view of the entry:

This is the open upstairs kitchen – dining – living area:

More of the upstairs living area–there is also a half bath up here:

Another view of upstairs looking out toward the lanai and golf course:

You even have a vaulted ceiling upstairs:

Interested or need more information? You know where to find me. I’m here to help any way I can!

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

……you can have your own piece of paradise
ask me how!

Princeville condo update for the week of Nov 11th to Nov 17th

Elaine Schaefer — Mon, 19 Nov 2007 08:24:53 +0000

If you haven’t already purchased your Thanksgiving turkey, this weekend is probably a good time to do it. Believe it or not, Thanksgiving is this coming Thursday! As you may expect, this week was pretty quiet in terms of real estate as guests arrive to prepare for Thanksgiving in Kauai. Take a look at what happened with Princeville condos this past week:

NEW LISTINGS

203934 T A 0 4-5-3-6-22-22 FS $2,395,000 Kaiulani Of Princeville #22 2,864 #22 3/3.5
203796 T A 3 4-5-4-5-39-72 FS $399,500 Cliffs At Princeville #3204 917 #3204 1/2

SALES

152035 T S 0 4-5-3-6-22-21 FS $1,750,000 Kaiulani Of Princeville #21 2,873 #21 3/3.5
SOLD 11/16/2007 for $1,783,200 (CNV) DOM 0

152036 T S 0 4-5-3-6-22-22 FS $1,750,000 Kaiulani Of Princeville #22 2,873 #22 3/3.5
SOLD 11/16/2007 for $1,758,070 (CNV) DOM 0

152076 T S 125 4-5-3-6-22-6 FS $2,050,000 Kaiulani Of Princeville #6 2,861 #6 3/3.5
SOLD 11/15/2007 for $2,051,780 (CNV) DOM 125

WITHDRAWN

190646 T W 286 4-5-4-5-24-82 FS $697,000 Nihilani At Princeville Resort #28A 1,412 #28A 2/2

PRICE CHANGES

203934 T A 0 4-5-3-6-22-22 FS $2,395,000- Kaiulani Of Princeville #22 2,864 #22 3/3.5
194364 SH A 183 4-5-4-5-39-80 FS $120,000- Cliffs At Princeville #3304 1,137 #3304 2/2
183571 T A 409 4-5-4-5-3-7 FS $465,000- Princeville Paniolo #107 1,058 #107 1/2
201635 T A 47 4-5-4-12-2-28 FS $475,000- Hale Moi #208 1,033 #208 1/2
197847 T A 141 4-5-4-12-8-24 LH $599,000- Pali Ke Kua Ii #130 1,100 #130 2/1.5
202822 T A 28 4-5-4-12-10-29 FS $719,000- Emmalani Court #422 1,192 #422 2/2
188592 T A 346 4-5-4-5-24-63 FS $739,750- Nihilani At Princeville Resort #21C 1,972 #21C 2/3
201459 T A 53 4-5-4-6-1-9 FS $955,000- Villas Of Kamalii #9 1,761 #9 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.

If you look at the first new listing, Kaiulani # 22 then look down under Sales, you’ll also see Kaiulani #22 then you’ll see it yet again under Price changes. It’s easy to see that the buyer just closed on this property from the developer on 11-16 for $1,750,000 then turned right around and listed it the next day for $2,395,000. The reason it shows under Price Changes is because it was initially listed for $2,400,000, but as we all know, $1.99 sounds better than $2.00 so the price was changed to $2,395,000.

The only other new listing, Cliffs 3204 is one I’ve shown several times but have not been able to find a buyer for yet. This unit expired on 10/8/07 after 494 days on the market during which time it started at a high of $515K, later working its way down to a low of $435K. The condo was in escrow twice and failed to close for whatever reason. With financing guidelines a little tighter and buyer’s being ever so very cautious, it doesn’t surprise me when properties fall out of escrow. This is a nice unit over in building three at the left side away from the noise of the laundry. While it certainly does not have ocean views, it’s a very short walk across the parking lot to the bluff where you can enjoy all the ocean you want. At $399,500, the seller does not have much room for negotiation without going “negative” as the condo was purchased in 2004 for $370K. Interestingly enough, when the current seller made the purchase for $370K, the list price at that time was also $399,500.

Moving onto the sales, all are developer’s sales of Kaiulani to the first time owners. Nihilani 28A, the 2 bed / 2 bath Moana unit was withdrawn after 286 days on the market. The sellers listed at $687K and did not reduce their price during the life of the listing, probably because they purchased it in 9/2006 for $640,945 and did not want to lose money on the sale.

Finally, we see all the price changes (as always) with the Cliffs fractional unit reducing to $120K from a high of $165K. Hale Moi #208 came down another $10K from $485K to $475K but I still think the best buy is Nihilani 21C. This is the largest unit offered in the complex and is all on one floor upstairs. The seller paid $844,795 in 10/2006 and just dropped it this time another $10K from $759K to $739,750. These are the Nihilani units on the market. Take a look at the size of the various units and you’ll see that for $739K, you’re getting quite a bit of square footage in 21C. Granted, it only has two bedrooms but the family room can easily be converted to a third bedroom.

190750 T A 291 4-5-4-5-24-62 FS $630,000 Nihilani At Princeville Resort #21B 1,400 #21B 2/2
198758 T A 121 4-5-4-5-24-8 FS $699,000 Nihilani At Princeville Resort #3B 1,567 #3B 2/2.5
200674 T A 78 4-5-4-5-24-4 FS $716,000 Nihilani At Princeville Resort #2A 1,406 #2A 2/2
188592 T A 347 4-5-4-5-24-63 FS $739,750 Nihilani At Princeville Resort #21C 1,972 #21C 2/3
200223 T A 87 4-5-4-5-24-40 FS $789,000 Nihilani At Princeville Resort #14A 1,874 #14A 3/2.5
202645 T A 32 4-5-4-5-24-48 FS $794,750 Nihilani At Princeville Resort #16C 1,972 #16C 3/3
201267 T A 62 4-5-4-5-24-87 FS $825,000 Nihilani At Princeville Resort #29C 1,874 #29C 3/2.5
200673 T A 78 4-5-4-5-24-21 FS $829,000 Nihilani At Princeville Resort #7C 1,972 #7C 2/3
198480 T A 118 4-5-4-5-24-13 FS $835,000 Nihilani At Princeville Resort #5A 1,874 #5A 3/2.5
194193 T A 221 4-5-4-5-24-39 FS $835,000 Nihilani At Princeville Resort #13C 1,874 #13C 3/2.5
195377 T A 53 4-5-4-5-24-16 FS $850,000 Nihilani At Princeville Resort #6A 1,874 #6A 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.

I’d like to wish you all a very Happy Thanksgiving and thank each and every one of you for making my foray in blogging so successful. Please let me know if there is a specific topic or Princeville condo complex you’d like to hear about. Don’t forget to call or email if you’d like to put a some real estate on your Holiday gift list!

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

……you can have your own piece of paradise
ask me how!