Princeville condo (and house) update for the week of June 29th to July 5th

By
Managing Real Estate Broker with RE/MAX Kauai Princeville Resort Branch RB-18142

Aloha,

...... and Happy 4th of July. I hope everyone enjoyed the weekend and got your fill of fireworks. They had 3 events here on Island. One was on Thursday at PMRF where the base was open to the entire Island for an evening fireworks / crafts / food event. There were approximately 2,500 who attended. Also, this year there was a day long 4th of July celebration at the Kekaha Community Center. There were games for the kids, food, crafts and of course Fireworks in the evening. The big event on the 4th of July is the Kauai Hospice Fundraiser, "The Concert in the Sky" another day long event held at Vidinah Stadium. This event tops them all and is an annual favorite. If you're here over the 4th next year, you must go to one of these fun events. On to your update:

Copyright 7/6/2008 by Hawaii Information Service

NEW LISTINGS
211709 T A 5 4-5-4-5-18-97 FS $449,000 Puamana #26D 1,532 #26D 2/2
213365 T A 1 4-5-4-5-24-80 FS $675,000 Nihilani At Princeville Resort #27B 1,567 #27B 3/2.5
213315 T A 2 4-5-4-5-24-37 FS $698,000 Nihilani At Princeville Resort #13A 1,874 #13A 3/2.5
210873 T A 6 4-5-4-5-16-52 FS $749,000 Alii Kai At Hanalei #7101 886 #7101 2/2
213198 T A 2 4-5-4-12-10-27 FS $775,000 Emmalani Court #415 1,456 #415 2/2
212982 T A 5 4-5-4-5-16-28 FS $925,000 Alii Kai At Hanalei #4104 1,086 #4104 2/2

BACK ON THE MARKET
206939 T A 151 4-5-4-12-10-16 FS $600,000 Emmalani Court #314 1,192 #314 2/2
194640 T A 370 4-5-4-12-9-27 FS $870,000 Pali Ke Kua Iii #237 1,135 #237 2/2

CONTINGENT SALES
208189 T C 121 4-5-3-11-1-29 FS $749,000 Villas On The Prince #29 1,732 #29 3/3

SALES
211188 T S 18 4-5-4-5-18-52 FS $649,000 Puamana #14D 1,673 #14D 3/3
SOLD 5/30/2008 for $610,000 (CNV) DOM 18

205638 T S 132 4-5-4-11-3-13 FS $995,000 Hanalei Bay Resort #C15 1,705 #C15 3/3
SOLD 6/30/2008 for $950,000 (CASH) DOM 132

EXPIRED
198214 T X 337 4-5-4-15-21-15 FS $429,000 Sandpiper Village I #115 1,042 #115 2/2
197847 T X 366 4-5-4-12-8-24 LH $575,000 Pali Ke Kua Ii #130 1,100 #130 2/1.5
210601 T X 101 4-5-4-5-24-29 FS $643,300 Nihilani At Princeville Resort #10B 1,567 #10B 2/2.5
210700 T X 62 4-5-4-5-24-98 FS $664,200 Nihilani At Princeville Resort #33B 1,406 #33B 2/2
210596 T X 63 4-5-4-5-24-23 FS $665,200 Nihilani At Princeville Resort #8B 1,567 #8B 2/2.5
210699 T X 62 4-5-4-5-24-31 FS $679,200 Nihilani At Princeville Resort #11A 1,406 #11A 2/2
210598 T X 56 4-5-4-5-24-8 FS $686,200 Nihilani At Princeville Resort #3B 1,567 #3B 2/2.5
210620 T X 63 4-5-4-5-24-97 FS $731,500 Nihilani At Princeville Resort #33A 1,874 #33A 3/2.5
210613 T X 63 4-5-4-5-24-100 FS $731,500 Nihilani At Princeville Resort #34A 1,874 #34A 3/2.5
210691 T X 124 4-5-4-5-24-44 FS $751,500 Nihilani At Princeville Resort #15B 1,874 #15B 3/2.5
210697 T X 62 4-5-4-5-24-26 FS $756,500 Nihilani At Princeville Resort #9B 1,874 #9B 3/2.5
210695 T X 62 4-5-4-5-24-24 FS $761,500 Nihilani At Princeville Resort #8C 1,874 #8C 3/2.5
210693 T X 62 4-5-4-5-24-28 FS $761,500 Nihilani At Princeville Resort #10A 1,874 #10A 3/2.5
210696 T X 62 4-5-4-5-24-32 FS $761,500 Nihilani At Princeville Resort #11B 1,874 #11B 3/2.5
210607 T X 63 4-5-4-5-24-6 FS $769,200 Nihilani At Princeville Resort #2C 1,972 #2C 3/3
210603 T X 63 4-5-4-5-24-102 FS $769,200 Nihilani At Princeville Resort #34C 1,972 #34C 3/3
210608 T X 124 4-5-4-5-24-99 FS $774,200 Nihilani At Princeville Resort #33C 1,972 #33C 3/3

PRICE CHANGES
188592 T A 578 4-5-4-5-24-63 FS $610,000- Nihilani At Princeville Resort #21C 1,972 #21C 2/3
199453 T A 249 4-5-4-12-10-19 FS $650,000- Emmalani Court #322 1,192 #322 2/2
186761 T A 611 4-5-4-5-12-1 FS $660,000- Sealodge Ii #F1 556 #F1 1/1
213365 T A 1 4-5-4-5-24-80 FS $675,000+ Nihilani At Princeville Resort #27B 1,567 #27B 3/2.5
201267 T A 293 4-5-4-5-24-87 FS $679,000- Nihilani At Princeville Resort #29C 1,874 #29C 3/2.5
209062 T A 103 4-5-4-5-24-51 FS $849,000- Nihilani At Princeville Resort #17C 1,874 #17C 3/2.5
194640 T A 370 4-5-4-12-9-27 FS $870,000- Pali Ke Kua Iii #237 1,135 #237 2/2
211355 T A 51 4-5-4-12-5-5 FS $995,000- Pali Ke Kua Incr I, ii, iii #105A 717 #105A 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.

First up is Puamana 26D, which sold for $410K in 10/04, is now listed for $449K and was previously listed from 7/06 to 9/06 at which time it was withdrawn while listed at $530K. Nihilani 27B, purchased for $682,180 in 10/06, was previously listed from 10/06 to 4/07 for $749,900 and from 3/08 to 6/08 for $699K. It is now listed for $675K by an owner/ agent. Nihilani 13A also came back on the market at $698K. This condo sold for $680,485 in 3/06, and was listed briefly in 12/07 for $830K. Ali'i Kai 7101 is on the market for the first time, listed at $749K after selling for $625K in 4/07. Emmalani Court 415 is back on the market at $775K, having been previously listed from 9/06 to 12/06 at which time it was withdrawn listed at $875K. The unit sold for $610K in 5/05. We have on more new Ali'i Kai this week, unit 4104 which sold for $950K in 8/05. This is the first time this unit has been listed since the last sale.

Both Emmalani Court 314 and Pali Ke Kua 237 are back on the market after expiring. Emmalani Court sold for $330K in 12/94 while Pali Ke Kua sold for $750K in 2/05.

One unit went into escrow this past week- a very well priced Villas on the Prince 29. Purchased in 5/02 for $468,710, this unit started out at $819K but quickly reduced until a buyer was found.

Puamana 14D closed this week at $610K netting its owners a nice profit as it was purchased in 6/03 for $369,500. Hanalei Bay Resort C15 started out at $1.590M back in 12/06, expiring in 12/07 listed at $1.399M. It was only when it was relisted in 1/08 at $1.350M then reduced in 5/08 $1.2M to $995K that it found a buyer. Since it was purchased in 4/90 for $375K this seller had the equity to sell - and apparently decided to price to do so!

Sandpiper 115 expired after 337 days on the market. This unit was purchased in 12/01 for $180K. During the life of the listing this unit actually increased from $425K to $429K. Pali Ke Kua 130, a leasehold unit, purchased in 3/06 for $429K went from $649K to $575K before expiring with 366 days on the market. This is another owner/agent unit. The remainder of the expired listings are all developer Nihilani units. These were probably the units that the developer had "on sale" during most of May and June.

In price changes there is yet ANOTHER decrease in Nihilani 21C which went from $625K to $610K. This unit is a steal - it was offered by the developer with an option to convert the family room to a third bedroom, something not done by this seller. I think if this unit were converted to a three bedroom buyers would be able to picture their furniture in the unit. It faces out onto Ka Haku which means a little bit more road noise than an interior unit but you also get mountain, waterfall, golf course and lake views. Won't someone please buy this unit? For goodness sakes, the owner paid $844,795! It is the largest floor plan in Nihilani and offers one level upstairs living.

Emmalani Court 322 reduced from $670K to $650K, Sealodge F1 went from $683K to $660K and Nihilani 27B was the only increase, going from $649K to $675K. Two other Nihilani units were reduced; 29C went from $725K to $679K and sold for $747,320 in 7/06. 17C, purchased in 8/06 for $822,870 was reduced from $875K to $849K edging its way toward negative territory.

Pali Ke Kua 237, purchased in 2/05 for $750K reduced from $890K to $870K while another Pali Ke Kua, unit 105 went from $1.1M to $995K. This condo just sold for $795K in 8/07. If you remember correctly, this unit, at one time, was listed for $1.395M in 12/05 before it started a lengthy decline. It was only when the unit finally took a huge drop of $200K in 7/07 going from $995K to $795K that it finally sold for full price. Since it took 605 days for this unit to find a buyer in a ‘stronger market' I am surprised to see it back on the market, when things are declining, at such a high list price. Perhaps this seller does not realize how long it was on the market before they came along and bought it and how much it had to reduce before they did!

Here is your home update for this past week:

Copyright 7/6/2008 by Hawaii Information Service

BACK ON THE MARKET
204680 RS A 125 4-5-4-19-25 FS $1,295,000 5137 Napo'okala Cir 15,482 sqft 2,288 3/2

PRICE CHANGES
206101 RS A 171 4-5-4-15-15 FS $875,000- 3838 Haulani Pl 14,510 sqft 2,262 4/3
206835 RS A 153 4-5-4-9-58 FS $945,000- 5345 Honoiki Rd 10,005 sqft 2,572 3/3
206198 RS A 166 4-5-4-17-21 FS $1,295,000- 4914 Emmalani Dr 10,500 sqft 3,238 4/3.5
209942 RS A 87 4-5-4-8-9 FS $1,559,000- 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.

Hope you have a pleasant week. I promised to tell you about my Kokee hike last week but have been showing property all week -so I'll put it back on the agenda for this week. Don't forget to call or email before you buy or sell!

Aloha, Elaine

Elaine's Photo

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

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

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