Princeville, HI

Aloha from Sunny Kauai! We finally have a perfect day with everything you'd expect from a tropical paradise. Sun, blue sky, fluffy white clouds and of course, the tradewinds. I live in a complex (Cliffs) that not only has whole ownership but also timeshare, and I often feel sorry for the visitors that get here just in time for a week of rain. Sometime I think it bothers me more than it bothers them, as they simply put on their rain slickers and go about their daily walk or on shopping jaunts. I'm sure what I fail to consider is that a rainy day here is better than a freezing one at home. Just goes to show you how spoiled you can become living here. It was a busy weekend, so let me get right to your weekly update!

Copyright 2/10/2008 by Hawaii Information Service

NEW LISTINGS
207166 T A 3 4-5-3-6-22-59 FS $995,000 Kaiulani Of Princeville #59 1,892 #59 2/2.5
206788 T A 3 4-5-3-6-22-70 FS $995,000 Kaiulani Of Princeville #70 1,781 #70 2/2.5
206220 T A 6 4-5-3-6-22-67 FS $1,095,000 Kaiulani Of Princeville #67 1,901 #67 2/2.5
207194 T A 2 4-5-3-6-22-72 FS $1,295,000 Kaiulani Of Princeville #72 1,901 #72 2/2.5
206958 T A 5 4-5-4-5-23-17 FS $565,000 Plantation At Princeville #511 1,153 #511 2/2
206939 T A 7 4-5-4-12-10-16 FS $670,000 Emmalani Court #314 1,192 #314 2/2
206801 T A 1 4-5-4-5-7-48 FS $759,000 Princeville Sealodge #E10 633 #E-10 1/1
206628 T A 6 4-5-4-5-39-154 FS $945,000 Cliffs At Princeville #6306 1,186 #6306 2/2

BACK ON THE MARKET
189728 T A 376 4-5-4-5-12-19 FS $599,999 Sealodge Ii #H1 556 #H1 1/1

CONTINGENT SALES
206096 SH C 25 4-5-4-5-23-23 FS $165,000 Plantation At Princeville #621 1,318 #621 3/3

SALES
152030 T S 0 4-5-3-6-22-12 FS $1,700,000 Kaiulani Of Princeville #12 2,873 #12 3/3.5
SOLD 2/7/2008 for $1,732,190 (CNV) DOM 0

WITHDRAWN
180178 T W 592 4-5-4-5-12-33 FS $925,000 Sealodge Ii #J6 754 #J6 2/2

PRICE CHANGES
185798 T A 482 4-5-3-11-1-14 FS $869,000- Villas On The Prince #14 1,737 #14 3/3
173568 T A 669 4-5-4-5-17-15 FS $470,000- Alii Kai Ii Hanalei #9G 1,037 #9G 2/2
191060 T A 362 4-5-4-5-13-4 FS $499,000- Kamahana #4 1,145 #4 2/2
200357 T A 166 4-5-4-5-23-42 FS $576,000- Plantation At Princeville #1112 1,153 #1112 2/2
189728 T A 376 4-5-4-5-12-19 FS $599,999- Sealodge Ii #H1 556 #H1 1/1
200456 T A 164 4-5-4-12-11-14 FS $1,749,000- Puu Poa #114 2,065 #114 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.

For new listings, we have two more developer's Kai'ulani's on the market, units 59 and 70. It looks like these may have been previously in escrow and fallen out for some unknown reason. Two more resale Kai'ulani's came on the market at the same time: Kai'ulani #67 which was purchased for $895K on 11/08 and priced at a 22% increase at $1,095,000 along with #72 which gathered even more appreciation, 51%, since it's purchase in 4/07 for $857,2270 and is now listed for $1,295,000! If you are looking to buy a Kai'ulani you now have several more to choose from...

Plantation #511 is not all that new, having been previously listed for 255 days starting at $635K in 12/06 and reducing to $595K before the listing was withdrawn and relisted with a new agent at $565K. During the life of the previous listing, the unit was in escrow from 5/20/07 to when it was withdrawn on 9/6/07. My guess would be that it fell out of escrow and the disappointed seller withdrew the unit to take a break. Buying and especially selling is hard on the clients- very emotional and sometimes stress filled. Taking a break is not that uncommon.

Emmalani Court #314 is also a new listing, and was purchased in 12/94 for $330K. At last, a seller who has equity! Continuing on, Sealodge E10, now listed for $759K was purchased 9/03 for $499K. Finally, we have Cliffs #6306 which was purchased on 11/05 for $895K and is now listed for $945K. Interestingly, when this unit sold in 11/05, it was only on the market for 14 days. How times have changed!

Back on the market after the listing expired is Sealodge unit H1, purchased in 8/05 for $560K. This unit started at $749K in 5/07 and was reduced from $633K to the current price of $599,999 on 2/8/08. There must some magic in the number nine for this seller. You'll also see this property listed under price changes as the seller reduced when they continued the listing

Our only property to go into escrow is the fractional share of Plantation #621. If you want a fractional in this complex, this unit is priced the same as the 2 bedroom, 2 bath Plantation that is currently listed. The only sale this week is yet another developer Kai'ulani sale.

Of course, the largest catagory is always the price changes, which are all reductions. Villas on the Prince #14 went from $885K to $869K, from an all time high of $1,050,000. This unit was purchased in 6/03 for $570K. Ali'i Kai 9G was reduced from $570K to $470K. Now that's a price reduction that get's your attention. 9G was purchased in 12/99 for $151K so they can certainly reduce to sell this unit if necessary

Kamahana #4, purchased in 9/05 for $499K went from $549K to $499K having started out at $559K. This seller will certainly be taking a loss on this unit. Plantation 1112 was purchased for $430K in 11/05 and was reduced from $576K to $575,900. This unit has been minimally reduced several times this week just to keep it on the daily update page of the MLS. Pu'u Po'a #114, purchased 3/05 for $1.4M was only on the market 24 days and was listed for $1,388,000 at the time. It was previously listed for 116 days in 3/07 for $1.975M after which the seller became licensed and listed the unit themself for $1.849M. It was reduced a full $100K to $1.749M.

Everyone always asks about Princeville houses too, so I will continue providing a weekly update as a courtesy. If time permits, I will give the "behind the scenes" info on these properties too. Just remember, whether or not I have time to "research" houses in my blog, I am always available to research any property Islandwide at your request. Here's this week's Princeville house update:

Copyright 2/10/2008 by Hawaii Information Service

NEW LISTINGS
206835 RS A 6 4-5-4-9-58 FS $995,000 5345 Honoiki Rd 10,005 sqft 2,572 3/2
206454 RS A 5 4-5-4-16-65 FS $1,345,000 4465 Emmalani Dr 10,896 sqft 2,122 3/2

CONTINGENT SALES
203965 RS C 82 4-5-4-20-3 FS $1,199,000 5121 Kapi'olani Loop 30,742 sqft 1,989 3/2.5
198602 RS C 60 4-5-4-16-86 FS $1,290,000 4114 Nalani Ln 12,012 sqft 4,000 4/4

WITHDRAWN
204102 RS W 73 4-5-3-12-42 FS $1,195,000 4046 Aloalii Dr 8,041 sqft 1,603 2/2.5
196002 RS W 266 4-5-4-23-24 FS $888,000 3807 Makani Kai Pl 10,386 sqft 1,535 3/2
204206 RS W 49 4-5-4-20-27 FS $890,000 5142 Iolani Pl 8,641 sqft 1,562 3/2

PRICE CHANGES
197400 RS A 235 4-5-3-11-46 FS $2,195,000+ 4140 Aloalii Dr 18,188 sqft 3,469 3/3
192103 RS A 341 4-5-4-24-5 FS $899,000+ 4200 Waileia Pl 9,639 sqft 1,928 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.

5345 Honoiki is a new listing, which was purchased 11/01 for $305K. 4465 Emmalani, now listed for $1.345M was previously listed for 364 days for $1.5M and was purchased 5/04 for $845K.

It may look like 5121 Kapiolani went quickly into escrow with only 82 days on the market, but look again. This home was first listed in 7/05 for 180 days, starting out at $2.250M and ending at $1.799M. It was then relisted for 384 days in 1/06 starting again at $1.799M and reducing to $1.560. It was listed a third time (they say the third time is a charm...) in 4/07 for 222 days from $1.556M to $1.389M. It was relisted with the current agent who started at $1.389M but reduced down to $1.199M before it went into escrow this past week.

Now - some people would look at this and say the bottom is falling out of the market. However, I don't see it that way at all. Here I go out on the limb again with my ever present opinion but I would say : Considering that the seller bought this house in 6/05 for $1.050 it has been overpriced for a long long time. This seller tried to flip a house just when the market started turning. It was first listed 7/27/05 for $2.250M. Hmmm, quite a bit of appreciation in one month's time. When you start to look at the timeline, you see that the market is just fine....the house was simply overpriced- a lot!

Moving right along to Nalani, this home was built in 2004 with the last purchase being that of the land for $135K in 5/01. The house was initially priced at $1.575M but this astute seller quickly dropped to $1.290M and successfully found a buyer with only 60 days of market time.

As for 4046 Aloali'i, this home is currently under construction and came on the market at $1.989M, the reduced to $1.895M before being increased this week to $2.195M. I guess if it doesn't sell for less, you can try selling for more. No really, in all fairness, the seller probably figures that now that the house is beginning to take shape, buyers are able to get a better feel for the house as opposed to when it was just being sold from house plans.

An finally we have the saga of 4200 Waileia Place. This golf course home was purchased 7/05 for $820K and listed 3/07 for $999,995. During its 342 days on the market, the home was reduced several times, until it was finally at $799K. At that point, it was reduced another $100K to $699K and the comment that it was a short sale subject to lender approval was added to the listing remarks. Now, after considerable interest at that attractive price, it has suddenly found new life and rebounded to $899K. What isn't clear is if it is still a short sale, as that language is no longer in the remarks section of the listing. Like I said before, if it won't sell for less, try try selling for more.

Until next time,

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

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!

January Princeville condo / house market performance

Everyone is always asking how the market is here. I am very visual and think one picture is worth 1000 words so I am showing you what went on for the last month with Princeville Real Estate. These are all the new listings, properties back on the market, those that went into escrow (contingent and under contract) as well as withdrawn units, sales and price changes. Basically, this is your snapshot of how Princeville condos performed for the month of January...Take a look and tell me what YOU think the market is doing.

Copyright 2/5/2008 by Hawaii Information Service

NEW LISTINGS

205059 T A 26 4-5-3-11-1-3 FS $815,000 Villas On The Prince #3 1,737 #3 3/3
206307 T A 13 4-5-3-11-1-18 FS $999,000 Villas On The Prince #18 1,800 #18 3/3
206549 T A 11 4-5-3-6-22-3 FS $1,900,000 Kaiulani Of Princeville #3 2,843 #3 3/3.5
205973 T A 21 4-5-3-6-22-48 FS $1,900,000 Kaiulani Of Princeville #48 2,476 #48 3/3
203210 T A 5 4-5-3-6-22-20 FS $2,650,000 Kaiulani Of Princeville #20 2,864 #20 3/3.5
206100 SH A 20 4-5-4-5-23-23 FS $165,000 Plantation At Princeville #621 1,318 #621 3/3
206436 T A 8 4-5-4-15-21-7 FS $419,000 Sandpiper Village I #107 1,042 #107 2/2
206653 T A 8 4-5-4-5-18-95 FS $433,000 Puamana #26B 1,532 #26B 2/2
205685 T A 27 4-5-4-15-21-21 FS $459,000 Sandpiper Village I #121 1,042 #121 2/2
205596 T A 24 4-5-4-15-21-30 FS $499,000 Sandpiper Village I #130 1,042 #130 2/2
205798 T A 27 4-5-4-6-1-34 FS $920,000 Villas Of Kamalii #34 1,825 #34 3/3
205502 T A 32 4-5-4-11-3-125 FS $995,000 Hanalei Bay Resort #R17 867 #3105-6 1/2
205638 T A 25 4-5-4-11-3-13 FS $1,350,000 Hanalei Bay Resort #C15 1,705 #C15 3/3
205964 T A 22 4-5-4-12-11-5 FS $1,600,000 Puu Poa #105 2,065 #105 2/2
205418 T A 32 4-5-4-12-11-37 FS $2,245,000 Puu Poa #309 1,352 #309 2/2
206596 T C 10 4-5-4-5-24-82 FS $599,000 Nihilani At Princeville Resort #28A 1,406 #28A 2/2

BACK ON THE MARKET

170814 SH A 753 4-5-4-11-3-84 FS $99,000 Hanalei Bay Resort #N22 867 #N22 1/2
170813 SH A 753 4-5-4-11-3-84 FS $99,000 Hanalei Bay Resort #N22 867 #N22 1/2
170812 SH A 753 4-5-4-11-3-84 FS $135,000 Hanalei Bay Resort #N22 867 #N22 1/2
170815 SH A 753 4-5-4-11-3-84 FS $149,000 Hanalei Bay Resort #N22 867 #N22 1/2
171233 T A 753 4-5-4-11-3-84 FS $488,000 Hanalei Bay Resort #N22 867 #1513 1/2
181966 T A 550 4-5-4-15-21-50 FS $549,999 Sandpiper Village I #213 1,173 #213 3/2.5
202839 T A 66 4-5-4-6-1-11 FS $1,150,000 Villas Of Kamalii #11 1,825 #11 3/3

CONTINGENT SALES

196331 SH C 257 4-5-4-6-1-42 FS $245,000 Villas Of Kamalii #42 1,825 #42 3/3
174822 T C 614 4-5-4-12-9-28 LH $350,000 Pali Ke Kua Iii #238 993 #238 1/1.5
183283 T C 540 4-5-4-5-23-66 FS $578,000 Plantation At Princeville #1712 1,153 #1712 2/2
206596 T C 10 4-5-4-5-24-82 FS $599,000 Nihilani At Princeville Resort #28A 1,406 #28A 2/2
201459 T C 133 4-5-4-6-1-9 FS $935,000 Villas Of Kamalii #9 1,761 #9 3/3

SALES

152057 T S 0 4-5-3-6-22-66 FS $895,000 Kaiulani Of Princeville #66 1,901 #66 2/2.5
SOLD 1/11/2008 for $896,720 (CNV) DOM 0

152067 T S 0 4-5-3-6-22-67 FS $895,000 Kaiulani Of Princeville #67 1,781 #67 2/2.5
SOLD 1/11/2008 for $895,000 (CNV) DOM 0

152058 T S 0 4-5-3-6-22-68 FS $895,000 Kaiulani Of Princeville #68 1,892 #68 2/2.5
SOLD 1/31/2008 for $898,250 (CNV) DOM 0

184077 T S 434 4-5-3-11-1-36 FS $899,000 Villas On The Prince #36 1,760 #36 3/3
SOLD 1/23/2008 for $815,000 (CASH) DOM 434

152078 T S 0 4-5-3-6-22-14 FS $1,700,000 Kaiulani Of Princeville #14 2,861 #14 3/3.5
SOLD 1/18/2008 for $1,724,070 (CNV) DOM 0

152031 T S 0 4-5-3-6-22-17 FS $1,950,000 Kaiulani Of Princeville #17 2,873 #17 3/3.5
SOLD 1/3/2008 for $1,971,790 (CNV) DOM 0

152077 T S 28 4-5-3-6-22-13 FS $2,050,000 Kaiulani Of Princeville #13 2,861 #13 3/3.5
SOLD 1/4/2008 for $2,069,070 (CNV) DOM 28

203796 T S 7 4-5-4-5-39-72 FS $399,500 Cliffs At Princeville #3204 917 #3204 1/2
SOLD 1/16/2008 for $380,000 (CASH) DOM 7

EXPIRED

152029 T X 0 4-5-3-6-22-11 FS $1,650,000 Kaiulani Of Princeville #11 2,873 #11 3/3.5
198740 T X 190 4-5-4-5-18-91 FS $470,000 Puamana #25B 1,532 #25B 2/2
200136 T X 133 4-5-4-12-9-26 LH $530,000 Pali Ke Kua Iii #236 1,135 #236 2/2
190750 T X 360 4-5-4-5-24-62 FS $600,000 Nihilani At Princeville Resort #21B 1,400 #21B 2/2
198758 T X 194 4-5-4-5-24-8 FS $699,000 Nihilani At Princeville Resort #3B 1,567 #3B 2/2.5
189654 T X 308 4-5-4-12-10-16 FS $699,000 Emmalani Court #314 1,192 #314 2/2
202822 T X 103 4-5-4-12-10-29 FS $717,000 Emmalani Court #422 1,192 #422 2/2
189708 T X 376 4-5-4-11-3-32 FS $1,400,000 Hanalei Bay Resort #H26 1,324 #H26 2/2

WITHDRAWN

188541 T W 404 4-5-3-6-22-49 FS $1,750,000 Kaiulani Of Princeville #49 2,479 #49 3/3
206787 T W 413 4-5-3-6-22-50 FS $1,800,000 Kaiulani Of Princeville #50 2,443 #50 3/3.5
188542 T W 404 4-5-3-6-22-50 FS $1,800,000 Kaiulani Of Princeville #50 2,443 #50 3/3.5
188537 T W 404 4-5-3-6-22-4 FS $1,900,000 Kaiulani Of Princeville #4 2,843 #4 3/3.5
188540 T W 404 4-5-3-6-22-8 FS $1,950,000 Kaiulani Of Princeville #8 2,864 #8 3/3.5
194278 SH W 253 4-5-4-5-23-23 FS $165,000 Plantation At Princeville #621 1,318 #621 3/3
180682 T W 550 4-5-4-5-18-34 FS $497,500 Puamana #9C 1,532 #9C 2/2
196532 T W 226 4-5-4-12-2-6 FS $515,000 Hale Moi #106 1,033 #106 2/2
188004 T W 367 4-5-4-5-23-54 FS $625,000 Plantation At Princeville #1412 1,153 #1412 2/2
198318 T W 186 4-5-4-5-18-42 FS $649,000 Puamana #12B 1,532 #12B 2/2
198480 T W 175 4-5-4-5-24-13 FS $835,000 Nihilani At Princeville Resort #5A 1,874 #5A 3/2.5
196871 T W 202 4-5-4-12-8-20 FS $995,000 Pali Ke Kua Ii #227 993 #227 2/2
196420 T W 205 4-5-4-11-3-49 FS $1,195,000 Hanalei Bay Resort #J11 1,324 #7101-2 (J11) 2/2

TEMPORARILY WITHDRAWN

206022 SH T 15 4-5-4-12-11-37 FS $395,000 Puu Poa #309 1,352 #309 2/2
206021 SH T 15 4-5-4-12-11-37 FS $395,000 Puu Poa #309 1,352 #309 2/2
206020 SH T 15 4-5-4-12-11-37 FS $395,000 Puu Poa #309 1,352 #309 2/2
206023 SH T 15 4-5-4-12-11-37 FS $425,000 Puu Poa #309 1,352 #309 2/2
206025 SH T 15 4-5-4-12-11-37 FS $450,000 Puu Poa #309 1,352 #309 2/2
206026 SH T 15 4-5-4-12-11-37 FS $475,000 Puu Poa #309 1,352 #309 2/2
204804 T T 41 4-5-4-5-39-33 FS $495,000 Cliffs At Princeville #2103 917 #2103 1/2

PRICE CHANGES

196201 T A 259 4-5-3-11-1-26 FS $960,000- Villas On The Prince #26 1,765 #26 3/3
202550 T A 112 4-5-3-6-22-41 FS $1,590,000- Kaiulani Of Princeville #41 2,479 #41 3/3
194231 T A 300 4-5-3-6-22-43 FS $1,685,000- Kaiulani Of Princeville #43 2,443 #43 3/3.5
202473 T A 105 4-5-3-6-22-27 FS $1,899,000- Kaiulani Of Princeville #27 2,864 #27 3/3.5
206653 T A 8 4-5-4-5-18-95 FS $433,000+ Puamana #26B 1,532 #26B 2/2
198765 T A 180 4-5-4-15-21-32 FS $434,000- Sandpiper Village I #132 1,042 #132 2/2
196998 T A 238 4-5-4-15-21-43 FS $480,000- Sandpiper Village I #206 1,173 #206 2/2.5
171233 T A 753 4-5-4-11-3-84 FS $488,000- Hanalei Bay Resort #N22 867 #1513 1/2
201428 T A 138 4-5-4-5-3-16 FS $505,000- Princeville Paniolo #116 1,058 #116 1/2
193038 T A 222 4-5-4-12-2-34 FS $520,000- Hale Moi #214 1,033 #214 1/2
193495 T A 313 4-5-4-12-2-16 FS $525,000- Hale Moi #116 1,033 #116 1/2
193722 T A 302 4-5-4-12-2-35 FS $529,000- Hale Moi #215 1,033 #215 1/2
198438 T A 200 4-5-4-12-2-31 FS $575,000- Hale Moi #211 1,033 #211 1/2
191680 T A 327 4-5-4-5-13-28 FS $599,000- Kamahana #28 1,145 #28 2/2
194396 T A 209 4-5-4-5-4-17 FS $599,950- Ka'eo Kai Ph I #7B 2,603 #7B 3/3
205172 T A 40 4-5-4-5-13-13 FS $649,000- Kamahana #13 2,073 #13 3/2
204852 T A 55 4-5-4-5-23-31 FS $649,000- Plantation At Princeville #821 1,366 #821 3/3
199453 T A 117 4-5-4-12-10-19 FS $695,000- Emmalani Court #322 1,192 #322 2/2
185586 T A 484 4-5-4-12-10-24 FS $698,000- Emmalani Court #412 1,192 #412 2/2
199987 T A 172 4-5-4-6-1-35 FS $725,000- Villas Of Kamalii #35 1,815 #35 3/3
200223 T A 166 4-5-4-5-24-40 FS $769,000- Nihilani At Princeville Resort #14A 1,874 #14A 3/2.5
201267 T A 141 4-5-4-5-24-87 FS $785,000- Nihilani At Princeville Resort #29C 1,874 #29C 3/2.5
186819 T A 450 4-5-4-6-1-20 FS $874,900- Villas Of Kamalii #20 1,825 #20 3/3
180178 T A 588 4-5-4-5-12-33 FS $925,000- Sealodge Ii #J6 754 #J6 2/2
193435 T A 312 4-5-4-6-1-1 FS $947,500- Villas Of Kamalii #1 1,761 #1 3/3
201944 T A 124 4-5-4-12-11-46 FS $1,549,000- Puu Poa #404 1,352 #404 2/2
204087 T A 71 4-5-4-12-11-17 FS $1,675,000- Puu Poa #203 1,352 #203 2/2
206596 T C 10 4-5-4-5-24-82 FS $599,000- Nihilani At Princeville Resort #28A 1,406 #28A 2/2
201459 T C 133 4-5-4-6-1-9 FS $935,000- Villas Of Kamalii #9 1,761 #9 3/3
190750 T X 360 4-5-4-5-24-62 FS $600,000- Nihilani At Princeville Resort #21B 1,400 #21B 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.

I'm sure you noticed there were only two sales that were NOT developer's sales of Kai'ulani. Now that you've seen the condos take a look at the houses for the last month:

Copyright 2/5/2008 by Hawaii Information Service

NEW LISTINGS

206641 RS A 5 4-5-3-12-30 FS $1,675,000 3982 Aloalii Dr 8,072 sqft 2,229 3/2
205771 SH A 25 4-5-4-14-30 FS $350,000 3891 Kamehameha Rd 11,262 sqft 3,599 3/3.5
206101 RS A 19 4-5-4-15-15 FS $945,000 3838 Haulani Pl 14,510 sqft 2,262 4/3
205291 RS A 34 4-5-4-20-11 FS $1,395,000 3975 Kalakaua Pl 18,604 sqft 2,450 3/3
205619 RS A 12 4-5-4-24-12 FS $1,450,000 4246 Waileia Pl 11,741 sqft 2,939 4/3
206198 RS A 14 4-5-4-17-21 FS $1,595,000 4914 Emmalani Dr 10,500 sqft 3,238 4/3.5
206177 RS A 14 4-5-4-9-55 FS $1,650,000 5331 Honoiki Rd 10,689 sqft 2,554 3/3
206377 RS A 14 4-5-4-10-22 FS $1,795,000 4078 Liholiho Rd 10,200 sqft 2,515 3/4
205770 RS A 26 4-5-4-13-29 FS $4,595,000 3565 Kaweonui Rd 13,089 sqft 2,614 4/4.5

BACK ON THE MARKET

167523 RS A 815 4-5-4-16-19 FS $775,000 4064 Kaa'humanu Pl 12,058 sqft 2,489 2/3
202991 RS A 100 4-5-4-16-9 FS $1,295,000 5015 Emmalani Dr 10,500 sqft 2,469 3/3
202875 RS A 99 4-5-4-13-65 FS $1,350,000 3717 Albert Rd 12,762 sqft 2,533 3/2.5

CONTINGENT SALES

203558 RS C 64 4-5-3-11-43 FS $1,725,000 4128 Aloalii Dr 10,616 sqft 3,054 3/3.5
196946 RS C 231 4-5-4-8-24 FS $895,000 5072 Kamamalu Loop 10,806 sqft 2,270 3/2.5
204442 RS C 68 4-5-4-16-21 FS $1,239,000 4070 Kaa'humanu Pl 10,536 sqft 2,334 3/3

SALES

184383 RS S 420 4-5-4-16-67 FS $1,100,000 4421 Emmalani Dr 11,463 sqft 1,705 3/2
SOLD 1/23/2008 for $980,000 (CASH, EXCH) DOM 420

EXPIRED

197956 RS X 182 4-5-4-22-10 FS $845,000 4030 Kawaiala 10,614 sqft 2,250 3/2.5
183017 RS X 498 4-5-4-10-28 FS $859,000 5230 Honoiki Rd. 10,189 sqft 1,688 3/2
176531 RS X 603 4-5-4-10-5 FS $1,495,000 4126 Liholiho Rd 9,969 sqft 2,439 3/2.5
189976 RS X 364 4-5-4-16-65 FS $1,500,000 4465 Emmalani Dr 10,896 sqft 2,122 3/2

WITHDRAWN

204441 SH W 53 4-5-4-16-21 FS $275,000 4070 Kaa'humanu Pl 10,536 sqft 2,334 3/3
204439 SH W 53 4-5-4-16-21 FS $285,000 4070 Kaa'humanu Pl 10,536 sqft 2,334 3/3
204440 SH W 53 4-5-4-16-21 FS $294,000 4070 Kaa'humanu Pl 10,536 sqft 2,334 3/3
204438 SH W 53 4-5-4-16-21 FS $294,000 4070 Kaa'humanu Pl 10,536 sqft 2,334 3/3
204436 SH W 53 4-5-4-16-21 FS $294,000 4070 Kaa'humanu Pl 10,536 sqft 2,334 3/3
204364 SH W 50 4-5-4-16-21 FS $298,000 4070 Kaa'humanu Pl 10,536 sqft 2,334 3/3
203138 RS W 77 4-5-4-22-26 FS $729,000 4372 Emmalani Dr 11,390 sqft 1,307 3/2
169856 RS W 763 4-5-4-19-19 FS $1,095,000 5086 Napo'okala Cir 15,326 sqft 2,206 3/3
201069 RS W 136 4-5-4-18-59 FS $1,099,000 4185 Kinau Pl 10,445 sqft 2,070 3/3
193652 RS W 296 4-5-4-19-1 FS $1,795,000 4165 Liholiho Road 25,212 sqft 3,235 3/2.5
192735 RS W 154 4-5-4-8-47 FS $3,475,000 5045 Kapiolani Lp 16,502 sqft 4,025 5/4.5

TEMPORARILY WITHDRAWN

192357 RS T 300 4-5-4-8-9 FS $1,750,000 3887 Punahele Rd 11,139 sqft 3,260 4/4

PRICE CHANGES

195550 RS A 270 4-5-3-12-9 FS $1,690,000- 4001 Aloalii Dr 8,081 sqft 3,461 2/3
200833 RS A 133 4-5-4-16-6 FS $669,000- 5035 Emmalani Dr 10,500 sqft 1,599 2/2
168524 RS A 796 4-5-4-22-4 FS $719,500- 4087 Nalani Ln 11,244 sqft 1,424 3/2
200685 RS A 152 4-5-4-15-6 FS $739,000- 3881 Albert Rd 11,515 sqft 1,272 3/2
198759 RS A 200 4-5-4-15-16 FS $749,900- 3834 Haulani Pl 11,020 sqft 2,048 3/3
167523 RS A 815 4-5-4-16-19 FS $775,000- 4064 Kaa'humanu Pl 12,058 sqft 2,489 2/3
197977 RS A 215 4-5-4-21-36 FS $995,000- 4892 Cr Kaui Rd/pepelani 28,847 sqft 2,274 4/3.5
196967 RS A 242 4-5-4-20-32 FS $1,199,000- 5145 Kapi'olani Loop #III 9,826 sqft 1,920 3/2
198602 RS A 55 4-5-4-16-86 FS $1,290,000- 4114 Nalani Ln 12,012 sqft 4,000 4/4
189321 RS A 392 4-5-4-20-33 FS $1,299,000- 3975 Punahele Rd 9,979 sqft 1,960 3/2.5
202093 RS A 123 4-5-4-8-45 FS $2,295,000- 5063 Kapiolani Lp 22,745 sqft 3,636 4/3.5
203558 RS C 64 4-5-3-11-43 FS $1,725,000- 4128 Aloalii Dr 10,616 sqft 3,054 3/3.5
203965 RS C 77 4-5-4-20-3 FS $1,199,000- 5121 Kapi'olani Loop 30,742 sqft 1,989 3/2.5
195521 RS C 274 4-5-4-15-3 FS $1,350,000- 3979 Kamehameha Rd 10,772 sqft 3,425 5/3.5
169856 RS W 763 4-5-4-19-19 FS $1,095,000- 5086 Napo'okala Cir 15,326 sqft 2,206 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.

Now I am just going to say it; I think there are a lot of overpriced listings out there. Recently, we've seen some that are coming on that are within the realm of possibility, like the Sandpiper that's listed for $419K and the Plantation that just came on for $565K but by and large, that's the exception and not the rule.

I have no real objection with "testing the market," after all, every seller alive wants to try to get the top dollar for their property, but lets face it, if you've been on the market for a zillion days and still don't have an offer, that's what I call a "clue." It is time to reduce, reduce, reduce. If you've set your price and no one cares, then it really doesn't matter what the price is and it also doesn't matter why you, the seller think your house is "worth" it- it's too high. If the buyer does not find value for the dollar, there is no sale. I'll hold that thought...I can get carried away talking about pricing but I'll talk about it again in a later blog. Any comments or questions?.....I'm here. Just call, comment or email!

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

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!

Aloha,

One of my fellow agents told me that I was less likely to get a real estate call on Super Bowl Sunday than on any other day of the year. In other words, she was letting me know that I'd have plenty of uninterrupted work time today. Who am I kidding- I got hooked watching the last half of the Super Bowl myself! The other highlight of the day was the lightening and thunder show Mother Nature put on for all of us. While rain is a normal part of North Shore living, lightening and thunder are a rarity.

As for real estate, we had several new listings, one that went into escrow and one developer's sale. Here is your update for this week:

Copyright 2/4/2008 by Hawaii Information Service

NEW LISTINGS

203210 T A 3 4-5-3-6-22-20 FS $2,650,000 Kaiulani Of Princeville #20 2,864 #20 3/3.5
206436 T A 6 4-5-4-15-21-7 FS $419,000 Sandpiper Village I #107 1,042 #107 2/2
206653 T A 6 4-5-4-5-18-95 FS $433,000 Puamana #26B 1,532 #26B 2/2
206852 T A 2 4-5-4-6-1-29 FS $925,000 Villas Of Kamalii #29 1,788 #29 3/3

BACK ON THE MARKET
202839 T A 64 4-5-4-6-1-11 FS $1,150,000 Villas Of Kamalii #11 1,825 #11 3/3

CONTINGENT SALES
206596 T C 8 4-5-4-5-24-82 FS $599,000 Nihilani At Princeville Resort #28A 1,406 #28A 2/2

SALES
152058 T S 0 4-5-3-6-22-68 FS $895,000 Kaiulani Of Princeville #68 1,892 #68 2/2.5
SOLD 1/31/2008 for $898,250 (CNV) DOM 0

EXPIRED
152029 T X 0 4-5-3-6-22-11 FS $1,650,000 Kaiulani Of Princeville #11 2,873 #11 3/3.5
198740 T X 190 4-5-4-5-18-91 FS $470,000 Puamana #25B 1,532 #25B 2/2
189728 T X 371 4-5-4-5-12-19 FS $633,000 Sealodge Ii #H1 556 #H1 1/1
198758 T X 194 4-5-4-5-24-8 FS $699,000 Nihilani At Princeville Resort #3B 1,567 #3B 2/2.5
202822 T X 103 4-5-4-12-10-29 FS $717,000 Emmalani Court #422 1,192 #422 2/2
189708 T X 376 4-5-4-11-3-32 FS $1,400,000 Hanalei Bay Resort #H26 1,324 #H26 2/2

WITHDRAWN
206787 T W 413 4-5-3-6-22-50 FS $1,800,000 Kaiulani Of Princeville #50 2,443 #50 3/3.5

PRICE CHANGES
205059 T A 24 4-5-3-11-1-3 FS $815,000- Villas On The Prince #3 1,737 #3 3/3
202550 T A 110 4-5-3-6-22-41 FS $1,590,000- Kaiulani Of Princeville #41 2,479 #41 3/3
206653 T A 6 4-5-4-5-18-95 FS $433,000+ Puamana #26B 1,532 #26B 2/2
196998 T A 236 4-5-4-15-21-43 FS $480,000- Sandpiper Village I #206 1,173 #206 2/2.5
205596 T A 22 4-5-4-15-21-30 FS $499,000- Sandpiper Village I #130 1,042 #130 2/2
202686 T A 108 4-5-4-5-4-9 FS $579,000- Ka'eo Kai Ph I #9A 1,503 #9A 2/2
199987 T A 170 4-5-4-6-1-35 FS $725,000- Villas Of Kamalii #35 1,815 #35 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.

We have another Kai'ulani on the market this week which was purchased on 11/07 for $1,980,180. This unit joins several other Kai'ulanis, including some of the developer's units, currently on the market. Sandpiper #107 is a new listing this week and is very attractively priced at $419K. There is a nice kitchenette built in on the B side along with hardwood floors. This unit was purchased for $365K in 9/04. Puamana #26B was previously listed from 7/07 to 11/07, starting out at $499K and going down to $450. Apparently the seller is intent on selling judging from the new list price of $433K. This unit was initially purchased in 99 for $90K as a leasehold property. It was converted from leasehold to fee simple when the "fee" was purchased for $35,700 in 2000. This is one seller who has plenty of equity to work with. Villas of Kamali'i #11 is the last new listing and was purchased on 6/05 for $750K.

Nihilani 28A went into escrow after only 8 days on the market and no wonder; it was purchased on 9/06 for $649,945 and at a list price of $599K, offers good value for the dollar. Where else can you get 2 year old condo with 1400 sqft, with A/C, a two car garage, and all the amentities typical of newer construction?

Speaking of Nihlani, I am happy to report that I am now a member of the Board of Directors and will be working with other Board members throughout my 2 year tenure to continue the successful growth of Nihilani as the developer moves towards completion and exiting of the complex.

Moving right along to the sales for this week: All we have is another Kai'ulani developer's sale of unit #68 for $898,250 followed by the many price changes. Villas on the Prince #3 reduced from $850K to $815K. This unit was purchased form $840K on 9/05 which puts this seller in an upside down position! Not surprisingly, Kai'ulani #41 went from $1.690M to $1.590M. This unit was purchased for $1,609,050 in 2/07 putting this upside down also!

Puamana #26B is the lone price increase (and is also one of our new listings this week) going from $430,500 to $433,000. I always wonder what the seller's numerical beliefs are when I see changes like this that seem to be tarketing a combination of specific numbers. Does this change make it a lucky number? Only time will tell.

Sandpiper #206, which started at $525K, went from $499,900 to $480K. This is another seller with room to negotiate, having purchased the unit in 11/99 for $114,500. Sandpiper #130, last purchased for $238K in 6/03, reduced from $535K to $499K. Ka'Eo Kai #9A went from $629K to $579, and has a purchase price of $492K on 8/05. Rounding out the price changes is Villas of Kamali'i #35 which went from $749,900 to $725K. This townhouse was purchased in 2/05 for $620K but has been foreclosed and is now a bank owned property.

For those of you who are curious about what went on with Princeville Homes last week, here is your update:

Copyright 2/3/2008 by Hawaii Information Service

NEW LISTINGS
206641 RS A 4 4-5-3-12-30 FS $1,675,000 3982 Aloalii Dr 8,072 sqft 2,229 3/2

BACK ON THE MARKET
202991 RS A 99 4-5-4-16-9 FS $1,295,000 5015 Emmalani Dr 10,500 sqft 2,469 3/3
202875 RS A 98 4-5-4-13-65 FS $1,350,000 3717 Albert Rd 12,762 sqft 2,533 3/2.5

CONTINGENT SALES
195521 RS C 273 4-5-4-15-3 FS $1,350,000 3979 Kamehameha Rd 10,772 sqft 3,425 5/3.5

EXPIRED
195389 RS X 274 4-5-4-14-17 FS $1,550,000 3835 Albert Rd 10,579 sqft 2,743 3/3.5

WITHDRAWN
169856 RS W 763 4-5-4-19-19 FS $1,095,000 5086 Napo'okala Cir 15,326 sqft 2,206 3/3
201069 RS W 136 4-5-4-18-59 FS $1,099,000 4185 Kinau Pl 10,445 sqft 2,070 3/3

PRICE CHANGES
195550 RS A 269 4-5-3-12-9 FS $1,690,000- 4001 Aloalii Dr 8,081 sqft 3,461 2/3
168524 RS A 795 4-5-4-22-4 FS $719,500- 4087 Nalani Ln 11,244 sqft 1,424 3/2
200685 RS A 151 4-5-4-15-6 FS $739,000- 3881 Albert Rd 11,515 sqft 1,272 3/2
198759 RS A 199 4-5-4-15-16 FS $749,900- 3834 Haulani Pl 11,020 sqft 2,048 3/3
197977 RS A 214 4-5-4-21-36 FS $995,000- 4892 Cr Kaui Rd/pepelani 28,847 sqft 2,274 4/3.5
206607 RS A 771 4-5-4-19-19 FS $1,065,000- 5086 Napo'okala Cir 15,326 sqft 2,206 3/3
195521 RS C 273 4-5-4-15-3 FS $1,350,000- 3979 Kamehameha Rd 10,772 sqft 3,425 5/3.5

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

The two properties that are back on the market, Emmalani and Albert, had expired and were brought back active. I'm not surprised to see 3979 Kamehameha go into escrow as it's a beautiful home. It started out at $1,689,000 273 days ago and dropped to $1,589,000 on 8/22/07. The next big reduction was on 12/8/07 when it went to $1,499,975. Shortly thereafter, on 12/27/2007 the house started a slow but steady reduction of $1000 a day. This is one way to keep a property in the forefront as it shows up on the listings update page every day with a price reduction.

3835 Albert expired at $1,550,000 having started out at $1,750,000 back in 5/07. This a spec home built in 2006 on land that was purchased in 2003 for $249K.

The two homes that were withdrawn are owned by real estate professionals - one - the house on Napookala is owned by a realtor who purchased the property in 5/03 for $648K while the other, Kinau Place, was purchased by a lender on 7/05 for $970K leaving little room for negotiation.

As for reductions, 4001 Aloali'i was purchased in 4/05 for $1.350M and started out at $2.066M before reducing down from $1.850M to $1.690M. 4087 Nalani is owed by the same individual who owns Napookala. This home was purchased in 10/04 for $599K and has been listed as high as $975K. This property's price has gone up and down over the last 795 days and was most recently reduced from $722,500 to $719,500.

The home on the corner of Kaui / Pepelani was built by the seller, who purchased the land in 3/98 for $65K. The home was originally listed for $1.095M and reduced to $995K. And finally, 5086 Napookala, which shows as withdrawn by the owner / agent came back on the market, relisted with another agent in the office, showing a price reduction from $1.075M to $1.065.

That's a brief summary of Princeville homes. If you have questions about any property in Princeville (or anywhere else on the Island for that matter) please do not hesitate to call or email me for further information. That's why I'm here, to be your real estate resource.

And finally, this update would have been out sooner but the thunderstorm knocked out the electricity several times Sunday. It's still overcast today but no rain yet. Think I'll go out for a power walk before it decides to rain. Have a good week!

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

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!

3881 Albert, which was reduced from $789K to $739K is also owned by a real estate agent, having been purchased in 6/05 for $745K. 3834 Haulani was purchased in 4/04 for $700K and reduced from $800K to $749,900.