Princeville condo (and house) update for the week of January 25th to 31st

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

Aloha,

Where did January go? Just flew by from what I can tell. Seems to be a bit more activity this last couple of weeks and it's showing by way of a sale here and there along with units occasionally going into escrow. We certainly do have more buyers out looking so that's a good start. Heres what we have for this past week:

Copyright 2/2/2009 by Hawaii Information Service

NEW LISTINGS
220368 T A 5 4-5-4-5-39-42 FS $495,000 Cliffs At Princeville #2202 917 #2202 1/2
220548 T A 5 4-5-4-5-23-22 FS $573,000 Plantation At Princeville #612 1,153 #612 2/2

BACK ON THE MARKET
210522 T A 280 4-5-4-12-2-16 FS $419,000 Hale Moi #116 1,033 #116 1/2

SALES
214782 T S 111 4-5-4-15-21-49 FS $399,000 Sandpiper Village I #212 1,173 #212 2/2.5
SOLD 1/26/2009 for $375,000 (CNV) DOM 111

EXPIRED
212639 T X 218 4-5-4-5-18-1 FS $440,000 Puamana #1A 1,312 #1A 2/2
215877 T X 141 4-5-4-5-18-30 FS $449,000 Puamana #8C 1,532 #8C 2/2
210999 T X 268 4-5-4-12-10-42 FS $549,900 Emmalani Court #525 1,456 #525 2/2
213025 T X 217 4-5-4-5-12-28 FS $615,000 Sealodge Ii #J1 754 #J1 2/2

WITHDRAWN
209209 T W 304 4-5-4-15-21-32 FS $329,000 Sandpiper Village I #132 1,042 #132 2/2
200673 T W 512 4-5-4-5-24-21 FS $754,200 Nihilani At Princeville Resort #7C 1,972 #7C 3/3
212433 T W 225 4-5-4-6-1-58 FS $849,000 Villas Of Kamalii #58 1,761 #58 3/3

PRICE CHANGES
208801 T A 311 4-5-4-11-3-84 FS $398,500- Hanalei Bay Resort #N22 867 #N22 1/2
219527 T A 28 4-5-4-15-21-54 FS $469,000- Sandpiper Village I #217 1,173 #217 2/2.5
219933 T A 105 4-5-4-12-10-24 FS $475,000- Emmalani Court #412 1,192 #412 2/2
188728 T A 728 4-5-4-5-39-55 FS $569,000- Cliffs At Princeville #2305 1,137 #2305 2/2
220548 T A 5 4-5-4-5-23-22 FS $573,000- Plantation At Princeville #612 1,153 #612 2/2
188592 T A 789 4-5-4-5-24-63 FS $599,000+ Nihilani At Princeville Resort #21C 1,972 #21C 2/3

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

There are two new listings this week both of which are on the market for the first time since their last sale. Cliffs 2202, listed for $495K was purchased in 5/88 for $107K as a leasehold then converted to fee simple in 9/05 for $160,250. Plantation 612 last sold for $455,402 from the developer in 10/05 and comes on the market at $573K.

Hale Moi 116 is back on the market after expiring with 280 market days. This unit sold for $459K in 10/04 and started out listed at an optimistic $499,500 but is now down to $419K. No new units went into escrow but Sandpiper 212 sold on 1/26/09 for $375K netting the seller a tax deduction. It was purchased in 12/04 for $400K.

Several units expired: Puamana 1A listed for $440K (sold in 7/01 for $157K), Puamana 8C listed at $449K (last sold for 95K in 7/88 as a leasehold then converted to fee simple in 5/02 for $35,700); Emmalani Court 525 listed at $549K (sold for $400K in 1/03) and Sealodge J1 which recently had a huge price reduction down to $615K. This unit sold for $325K in 9/02.

Three units were withdrawn: Sandpiper 132 was listed for $329K and last sold in 8/04 for $330K. A developer's Nihilani unit 7C also came off the market listed at $754,200. Villas of Kamali'i 58, listed at $849K was the final withdrawal. This unit sold from the developer in 5/03 for $432,155.

Moving right along to price reductions: First up is Hanalei Bay Resort N22 which reduced from $459K to $398,500 and last sold in 1/06 for $469,900. Sandpiper 217, which was purchased for $310K in 2/04 reduced from $499K to $469K. Judging from the last upstairs Sandpiper which just closed at $375K (unit 212) this unit has a ways to go. Emmalani Court, which is a Bank REO, reduced from $509,900 to $475K and shows as being transferred to the bank on 8/08 with a price of $726,577. This is probably what was still owed since it was purchased in 2/06 for $775K. Cliffs 2305, which last sold for $680K in 6/06 reduced from $579K to $569K. Plantation 612 was purchased for $455,402 from the developer in 10/05 and "adjusted" in price from $575K to $573K. I can hardly call this a price reduction. Nihilani 21C is still on the market and "adjusted upwards" this time from $595K to $599K. You probably know by now that this unit sold for $844,795 in 10/06. That's it for Princeville condos this week.

Here is your Princeville home update:

Copyright 2/2/2009 by Hawaii Information Service

NEW LISTINGS
220147 RS A 5 4-5-4-22-10 FS $745,000 4030 Kawaiala 10,614 sqft 1,710 3/2.5
220531 RS A 2 4-5-4-13-44 FS $1,110,000 3646 Kaweonui Rd 10,937 sqft 2,240 3/2

CONTINGENT SALES
217017 RS C 109 4-5-4-20-25 FS $594,900 5143 Iolani Pl 10,907 sqft 2,224 3/2
206045 RS C 342 4-5-4-21-18 FS $998,000 4922 Akai Pl 10,879 sqft 3,064 4/3.5

EXPIRED
206641 RS X 361 4-5-3-12-30 FS $1,675,000 3982 Aloalii Dr 8,072 sqft 2,229 3/3
206454 RS X 356 4-5-4-16-65 FS $998,000 4465 Emmalani Dr 10,896 sqft 2,122 3/2
213886 RS X 161 4-5-4-16-20 FS $1,475,000 4066 Kaahumanu Pl 11,857 sqft 3,424 3/3

WITHDRAWN
220381 SH W 291 4-5-4-15-3 FS $375,000 3979 Kamehameha Rd 10,772 sqft 3,558 5/3.5
199057 SH W 262 4-5-4-16-22 FS $375,000 4080 Kaa'humanu Pl 9,731 sqft 2,460 4/3.5

PRICE CHANGES
219148 RS A 48 4-5-4-15-16 FS $674,900- 3834 Haulani Pl 11,020 sqft 2,048 3/3
218120 RS A 75 4-5-4-8-62 FS $1,500,000- 3812 Punahele Rd 14,573 sqft 2,900 3/2

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. Remember if you're looking to buy or sell, call or email to get the facts first. Until next week, stay warm. We're trying to do the same here. Temperatures have been down in the low 60's at night and only as high as 76 by day. Add in a strong gusty wind and clouds and it's easy to tell locals from visitors. We're the one is jeans and sweatshirts.

Aloha Elaine

hiking-up-the-hanalei-rope-trail.jpg

Hiking up the "rope" portion of the Hanalei Valley Trail.

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!

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Elaine Schaefer

R, BIC, CRS, GRI, ABR, SFR
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