Princeville, HI

Aloha,

Saturday marked the end of one beautiful week and beginning of yet another. It was absolutely picture perfect Sunday which warranted a trip down to Anini beach for a couple of hours. Everyone else had the same idea so it made for a fun time. As is often the case with great weather, I'm seeing an increase in buyers as evidenced by more showings of listings, buyers getting prequalified with lenders and more and more properties going into escrow. Still plenty of great pricing and more importantly, excellent interest rates. You can't beat the combination of the two. It is a rare opportuninty to get into the market if you have the desire. Here is your update:

Copyright 5/3/2009 by Hawaii Information Service

NEW LISTINGS
223148 T A 4 4-5-4-5-18-71 FS $382,750 Puamana #20A 1,532 #20A 2/2
223040 T A 4 4-5-4-11-3-127 FS $650,000 Hanalei Bay Resort #R25 867 #Guava R25 1/2
223690 T U 0 4-5-4-5-24-99 FS $640,000 Nihilani At Princeville Resort #33C 1,972 #33C 2/3

BACK ON THE MARKET
221121 T A 80 4-5-4-5-3-3 FS $239,900 Princeville Paniolo #103 1,058 #103 1/2

UNDER CONTRACT
221489 T U 22 4-5-4-5-16-13 FS $495,000 Alii Kai At Hanalei #2201 1,086 #2201 2/2
223690 T U 0 4-5-4-5-24-99 FS $640,000 Nihilani At Princeville Resort #33C 1,972 #33C 2/3

EXPIRED
210902 T X 361 4-5-4-5-39-4 FS $489,000 Cliffs At Princeville #1104 917 #1104 1/2
219471 T X 120 4-5-4-12-2-39 FS $493,000 Hale Moi #219 1,033 #219 1/2
186761 T X 909 4-5-4-5-12-1 FS $660,000 Sealodge Ii #F1 556 #F1 1/1
176670 T X 1,063 4-5-4-5-16-57 FS $675,000 Alii Kai At Hanalei #7202 886 #7202 2/2
210501 T X 327 4-5-4-5-7-34 FS $749,000 Princeville Sealodge #D5 570 #D5 1/1
210757 T X 362 4-5-4-5-16-26 FS $888,000 Alii Kai At Hanalei #4102 1,086 #4102 2/2

WITHDRAWN
209505 T W 357 4-5-3-11-1-32 FS $895,000 Villas On The Prince #32 1,737 #32 3/3
212012 T W 324 4-5-3-11-1-16 FS $970,000 Villas On The Prince #16 1,732 #16 3/2.5
200484 T W 609 4-5-4-5-39-169 FS $745,000 Cliffs At Princeville #7305 1,137 #7305 2/2

PRICE CHANGES
223402 T A 13 4-5-3-11-1-30 FS $729,500- Villas On The Prince #30 1,732 #30 3/3
173568 T A 1,116 4-5-4-5-17-15 FS $380,000- Alii Kai Ii Hanalei #9G 1,037 #9G 2/2
210873 T A 307 4-5-4-5-16-52 FS $629,000- Alii Kai At Hanalei #7101 886 #7101 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.

Puamana 20A is new on the market at $382,750, (must be their lucky number) having been purchased in 9/01 for $170K. This unit was briefly listed from 5/05 to 6/05 for $495K. Hanalei Bay Resort R25, which last sold for $240K in 4/92 is new on the market since that sale listed at $650K. A developer's Nihilani unit 33C, the upstairs Mahina floor plan, is back on the market at $640K and is also under contract. This unit had previously been listed and withdrawn from the market and is back on with a buyer in tow.

Paniolo 103, a bank REO, listed at $239,900 is back on the market after going into escrow on 3/31. It last sold for $410K in 4/05 and was taken over by the bank on 1/09.

Ali'i Kai 2201 went from contingent to under contract status as it nears closing. I'm happy to say this is my listing which went into escrow priced at $495K after only 22 days on the market. This unit last sold for $137,500 in 12/98. I'll be able to report the sale price next week. As noted under new listings, we also have Nihilani 33C under contract.

Several units expired this week: Cliffs 1104 was priced at $489K and purchased for $135K in 3/01. Hale Moi 219, listed at $493K and purchased for the same amount in 3/05 expired with 120 market days. I guess they didn't want to have their list price go below their purchase price. Also, I have Hale Moi 216, which is just a few doors away, listed at $395K. 216 was totally remodeled by the seller and is turnkey and ready to go. At this price, it is the least expensive unit in the complex and offers great value with the ability to rent both sides separately or live in one side and rent the other - or live in the whole unit. To continue; Sealodge F1, purchased for $600K in 6/05 expired listed at $660K while Ali'i Kai 7202, listed at $675K also expired. THis is an agent owned unit purchased in 1/88 for $115K. Sealodge D5, purchased for $525K in 4/04 expired listed at $749K. Our final unit is Ali'i Kai 4102 which sold for $261K in 6/00 and expired listed at $888K.

Two Villas on the Prince units were withdrawn: Villas 32 which last sold for $545K in 2/03. It started out listed at $980K dropping to $895K during the 357 days it was on the market. Villas 16, listed at $970K and purchased for $467,580 in 3/02 was on the market for 324 days with no price reductions. Cliffs 7305, purchased for $242K in 8/00 was withdrawn listed at $745K. This unit came on the market 609 days ago starting at $875K.

There were only 3 price changes this week. Villas on the Prince 30, purchased for $565K in 3/04 reduced from $750K to $729,500. Ali'i Kai 9G, purchased for $151K in 12/99 reduced from $390K to $380K. This unit started at $629K 1,116 days ago! Unfortunately, it looks like the seller has been chasing the market instead of leading it the whole time otherwise you would have thought there would be a buyer by now. Also reducing is Ali'i Kai 7101, going from $679K to $629K. This unit sold for $625K in 4/07.

That's your condo update for this week. Now on to your Princeville house update:

Copyright 5/3/2009 by Hawaii Information Service

NEW LISTINGS
223501 RS A 6 4-5-4-19-14 FS $1,350,000 5101 Kuhina Pl 20,646 sqft 3,276 4/3.5

EXPIRED
214181 RS X 271 4-5-4-24-12 FS $1,295,000 4246 Waileia Pl 11,741 sqft 3,006 4/3

WITHDRAWN
222399 RS W 42 4-5-4-16-79 FS $859,000 4105 Kekaulike Ln 10,408 sqft 1,700 2/2
215559 RS W 238 4-5-4-7-6 FS $1,995,000 3932 Namakeha Lp 12,575 sqft 2,848 4/3.5

PRICE CHANGES
219148 RS A 138 4-5-4-15-16 FS $588,900- 3834 Haulani Pl 11,020 sqft 2,048 3/3
222919 RS A 30 4-5-4-17-2 FS $717,500- 4959 Emmalani Dr 10,875 sqft 2,682 4/4.5
223364 RS A 16 4-5-4-20-31 FS $829,500- 5141 Kapi'olani Loop 9,669 sqft 2,262 5/3
220531 RS A 92 4-5-4-13-44 FS $970,000- 3646 Kaweonui Rd #II 10,937 sqft 2,240 3/2
221067 RS A 81 4-5-4-14-17 FS $1,375,000- 3835 Albert Rd 10,579 sqft 2,743 3/3.5

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

Pricing is getting down there on some of these houses. I've shown 3834 Haulani Place many times over the last couple of years. It's been all over the board in pricing: starting out at $989M in 6/05 to 11/05, then it went to $1.025M in 11/05. It then came on the market in the $800's and $700's before it faced foreclosure. Purchased in 4/04 for $700K, it was taken over by the bank in 1/09 listed at $713,900. My buyers just haven't like it. The backyard of this home backs up to the Albert street parking lot for Sandpiper condo complex. Sandpiper is very well managed, (Ed has been there forever) and I've never known that parking lot to be a problem. Nevertheless, buyer (my buyers that is) didn't seem to care for the location. Also, the floor plan is very open...too open for many. It's basically one big room with the kitchen off to the left. The three bedrooms open directly into the living area. Still, it's a solid house that just needs the turquoise tile changed out of the one bedroom and maybe some granite countertops at some point in the kitchen. Right now, its ceramic tile.

4959 Emmalani Drive is another one. This is a big house that needs work and was originally listed at $1.375M in 1/07 dropping to $850K when it became a short sale. After 712 market days it expired and came back on the market at $767,500 as a short sale heading to foreclosure on 4/3/09. It reduced to $717,500 this past week. This is a house that with some work (ok maybe lots of work) should yield a return as it is on the golf course. It's also a reverse floor plan with 3 bedrooms downstairs and the master upstairs. If you are curious or need more info on either of these homes or any other home or condo, you know who to call or email. Get the facts before you buy or sell. There are some good bargains out here.

Speaking of bargains, did any of you watch the Kentucky Derby Saturday? Did you know that the winning horse, Mine That Bird, was purchased for $9,800 and earned his owner $1,417,200 by winning the derby? Not only that, but he was a 50 to 1 longshot that paid $103.20 for a $2 bet, the second largest payout in Derby history. Now there's a bargain. If you didn't see the race, I'm sure you can find it on You Tube. It's a great testament to the underdog coming from behind to win big time!

Aloha Elaine

Another great shot as I head home from the stable.

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!

Aloha,

Finally, our great weather is back! The warmth of the sun with just a hint of coolness in the air; you can't beat it, especially when the view is of swaying palm trees against a sky ever so blue. It's this kind of weather that brings visitors back to the island year after year, often eventually converting them into property owners and sometimes even full time residents. Here is your update for last week:

Copyright 4/27/2009 by Hawaii Information Service

NEW LISTINGS
223402 T A 7 4-5-3-11-1-30 FS $750,000 Villas On The Prince #30 1,732 #30 3/3
223488 T A 4 4-5-4-15-21-30 FS $349,000 Sandpiper Village I #130 1,042 #130 2/2
223440 T A 4 4-5-4-5-7-23 FS $679,000 Princeville Sealodge #C3 564 #C3 1/1
223507 T S 0 4-5-4-5-24-26 FS $600,000 Nihilani At Princeville Resort #9B 1,874 #9B 3/2.5
SOLD 4/24/2009 for $600,000 (CASH) DOM 0

BACK ON THE MARKET
207634 T A 431 4-5-4-5-39-16 FS $310,000 Cliffs At Princeville #1206 917 #1206 1/2

CONTINGENT SALES
220884 T C 77 4-5-3-11-1-27 FS $750,000 Villas On The Prince #27 1,732 #27 3/3
222629 T C 31 4-5-4-12-10-22 FS $425,000 Emmalani Court #325 1,456 #325 2/2
222621 T C 31 4-5-4-12-10-12 FS $449,000 Emmalani Court #225 1,456 #225 2/2
212736 T C 278 4-5-4-5-16-48 FS $945,500 Alii Kai At Hanalei #5304 1,085 #5304 2/2

SALES
223507 T S 0 4-5-4-5-24-26 FS $600,000 Nihilani At Princeville Resort #9B 1,874 #9B 3/2.5
SOLD 4/24/2009 for $600,000 (CASH) DOM 0

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

EXPIRED
217318 T X 180 4-5-4-5-24-20 FS $529,000 Nihilani At Princeville Resort #7B 1,406 #7B 2/2

TEMPORARILY WITHDRAWN
222635 T T 19 4-5-4-5-12-19 FS $509,000 Sealodge Ii #H1 556 #H1 1/1

PRICE CHANGES
212672 SH A 534 4-5-4-12-11-7 FS $297,500- Puu Poa #107 2,065 #107 2/2
210027 T A 387 4-5-4-5-30-6 FS $350,000- Princeville Mauna Kai #F6 1,400 #5 3/2
219527 T A 112 4-5-4-15-21-54 FS $429,000- Sandpiper Village I #217 1,173 #217 2/2.5
215869 T A 227 4-5-4-5-23-16 FS $499,900- Plantation At Princeville #422 1,318 #422 3/3
211355 T A 346 4-5-4-12-5-5 FS $828,000- Pali Ke Kua Incr I, ii, iii #105A 717 #105A 1/1
223273 T A 12 4-5-4-5-7-38 FS $997,000- Princeville Sealodge #D9 570 #D9 1/1
202256 T A 534 4-5-4-12-11-7 FS $1,490,000- Puu Poa #107 2,065 #107 2/2
212736 T C 278 4-5-4-5-16-48 FS $945,500- Alii Kai At Hanalei #5304 1,085 #5304 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.

The first new listing is actually and old timer when it comes to being on the MLS. Purchased in 3/04 for $565K, and currently listed for $750K, this unit first appeared from 5/06 to 10/06 starting at $1.095M and ending at $965K. It came back on the market in 1/07 at $935K and was withdrawn in 10/07 listed at $849K. It was immediately relisted from 10/07 to 5/08, with a high price of $935K before reducing to $799K. When that didn't work, it was again immediately relisted from 5/08 to 9/08, during which time it started at $815K and dropped to $779K. It came back on the market listed at $770K and reduced all the way to $769K while listed from 10/08 to 4/09. (Yes, you read that right.) With the exception of one time when it expired, each time it was withdrawn from the market. Hopefully this agent will have more luck with this new price.

Next up is Sandpiper 130, returning to the market listed at $349K. Purchased in 6/03 for $238K, this unit was previously listed from 1/08 to 9/08, starting at $535K and reducing to $449K before it was withdrawn. Nice to see it back at a price more in keeping with the market. Judging from the pictures, it appears to be nicely upgraded with granite slab countertops and more. Sealodge C3 enters the market listed at $679K with a purchase price of $365K in 5/03. This is a nice ground floor unit with great ocean views which I sold back in 12/02 when I represented the seller. Nihilani 9B is another developer's unit which came on the market at $600K and sold for the same. Slowly, they are clearing out their inventory. You'll also see this unit under Sales. Better get yours while you still can.

Cliffs 1206 is unfortunately back on the market after falling out of escrow. It's always diffcult for everyone when a property falls out of escrow. Purchased in 9/05 for $520K this unit is currently listed for $310K after starting out at $499K 429 days ago and is a short sale.

There are several properties that went into escrow this week which is nice to see. Villas on the Prince 27, listed at $750K and purchased for $525K in 1/03 went into escrow after 75 market days. Emmalani Court 325 and 225 both went into escrow. These units, along with 323 (also in escrow) all came on the market at the same time with very aggressive pricing which has paid off. 325 sold for $387K in 4/93 and 225 sold for $397K also in 4/93. Ali'i Kai 5304, listed for $945,500 and purchased for $135K in 1/87 is also in escrow. Seems high to me after seeing Pu'u Po'a 201 close a few weeks ago for $825K, but then again, that particular sale is definitely an exception to pricing and not the the standard, as evidenced by the Pu'u Po'a closing of 413 this week for $1M. Also, Ali'i Kai 4203 listed for $949K closed the week before for $850K so obviously buyers are seeing value in these Ali'i Kai ocean front units at that price point. It will be interesting to see what 5304 closed at.

As mentioned under new listings, Nihilani 9B sold for $600K from the developer. Pu'u Po'a 413, purchased for $410K in 2/00 closed at $1M while listed at a very attractive $1.099M.

Nihilani 7B, a Moana floorplan, expired while listed for $529K. This is a resale which sold for $686,080 in 4/07. Sealodge H1, purchased for $560K in 8/05 was withdrawn listed at $509K and only 19 days on the market.

There were the usual price changes this week starting with Pu'u Po'a 107, which is being sold as a 2 month fractional share. This unit reduced from $398,450 to $297,500 and was purchased for $1,902,500 in 4/06. Mauna Kai F6, purchased for $431,650 in 11/04 reduced from $380K to $350K while Sandpiper 217 went from $469K to $429K. 217 sold for $310K in 2/04. Plantation 422, a bank REO, reduced from $539,900 to $499,900. This unit sold for $738K in 11/05 and certainly represents a good value even if you do need to replace all the appliances. (The bank removed them.) The unit doesn't show well because of that but if you have a little imagination you can see past that and will recognize the value here. Pali Ke Kua 105, purchased for $795K in 8/07 slid down from $829K to $828K. Unless the sellers are going to make small daily reductions it's kind of pointless to reduce by $1000. Sealodge D9, which came on the market last week at a hefty $1.077 reduced to a still hefty $997K. This unit sold for $180K in 2/99. Pu'u Po'a 107 which started this list of reductions as a fractional, also reduced the price of the whole unit from $1.699M to $1.490M. Still high compared to recent sales. Our last reduction is the Ali'i Kai 5303 that went into escrow this week. This is one of the properties that was being reduced by $500 a day. Now on to your home update.

Copyright 4/25/2009 by Hawaii Information Service

NEW LISTINGS
223397 RS A 5 4-5-4-18-37 FS $1,049,000 4193 Kamalani Ln 10,006 sqft 3,320 4/3
223389 RS A 6 4-5-4-14-31 FS $1,075,000 3885 Kamehameha Rd 12,127 sqft 2,372 4/3
223456 RS A 4 4-5-4-16-26 FS $1,215,000 4979 Emmalani Dr 10,895 sqft 2,381 3/2.5
214814 RS A 2 4-5-4-15-3 FS $1,395,000 3979 Kamehameha Rd 10,772 sqft 3,558 5/3.5

WITHDRAWN
211335 RS W 344 4-5-4-17-28 FS $749,000 4812 Emmalani Dr 10,817 sqft 2,444 4/3

PRICE CHANGES
214882 RS A 205 4-5-3-12-33 FS $1,585,000- 3998 Aloalii Dr 9,823 sqft 3,800 4/4.5
213870 RS A 275 4-5-4-6-12 FS $570,000- 4154 Lei O Papa Rd 11,369 sqft 1,544 2/2
222399 RS A 36 4-5-4-16-79 FS $859,000- 4105 Kekaulike Ln 10,408 sqft 1,700 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.

That was a short list! As you can see, not too much happenning in the way of home sales although there are a few good buys to be had. That's it for this week. If you're on Island take time from the great weather to investigate owning paradise for yourself. Don't forget though, to call or email before buying or selling for the facts!

Aloha Elaine

Sunset on a cloudy evening - on the way home from the stable.

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!

April 19, 2009 Kauai Hawaii REO Foreclosure Update

Aloha,

Happy sunny blue skies to you. The last couple of days were quintessential Kaua'i days with the most magnificent blue skies, bright sunshine and balmy trades. It was so beautiful that we decided to do our daily walk on the beach and to play in the ocean as we walked along. Later in the day, I scooped up all the towels we'd used earlier and tossed them in the washer, unaware that my fanny pack with cell phone were wrapped up in the midst of the towels. So if you need me today, try email because I'll be on my way into Lihue to get a new cell phone. Here is your update:

Copyright 4/19/2009 by Hawaii Information Service

NEW LISTINGS
223363 T A 1 4-5-4-5-4-5 FS $319,900 Kaeo Kai Ph I #5A 1,503 #5A 2/2
223270 T A 4 4-5-4-5-27-19 FS $438,000 Hale Honu #10A 1,085 #10A 3/2
222619 SH A 6 4-5-4-12-3-8 FS $465,000 Hanalei Bay Villas #8 1,244 #8 2/2.5
223314 T A 1 4-5-4-6-1-44 FS $699,900 Villas Of Kamalii #44 1,825 #44 3/3
222618 T A 6 4-5-4-12-3-8 FS $875,000 Hanalei Bay Villas #8 1,244 #8 2/2.5
223273 T A 4 4-5-4-5-7-38 FS $1,077,000 Princeville Sealodge #D9 570 #D9 1/1

CONTINGENT SALES
219389 T C 109 4-5-4-5-7-18 FS $493,000 Princeville Sealodge #B10 566 #B10 1/1

SALES
215878 T S 160 4-5-4-5-16-31 FS $949,000 Alii Kai At Hanalei #4203 1,086 #4203 2/2
SOLD 4/17/2009 for $850,000 (CASH, CNV) DOM 160

EXPIRED
216836 T X 185 4-5-3-11-1-30 FS $769,000 Villas On The Prince #30 1,767 #30 3/3
210059 T X 365 4-5-4-5-27-18 FS $350,000 Hale Honu #9B 1,085 #9B 3/2

WITHDRAWN
215773 SH W 220 4-5-4-5-27-7 FS $279,000 Hale Honu #4A 866 #4A 2/1
210504 T W 352 4-5-4-15-21-59 FS $499,900 Sandpiper Village I #222 1,173 #222 3/2.5

PRICE CHANGES
220199 T A 88 4-5-4-5-13-4 FS $328,900- Kamahana #4 1,145 #4 2/2
208790 T A 355 4-5-4-5-7-11 FS $345,000- Princeville Sealodge #B3 570 #B3 1/1
209599 T A 311 4-5-4-15-21-31 FS $350,000+ Sandpiper Village I #131 1,042 #131 2/2
222629 T A 23 4-5-4-12-10-22 FS $425,000- Emmalani Court #325 1,456 #325 2/2
204622 T A 485 4-5-4-12-8-28 FS $599,000- Pali Ke Kua Ii #232 993 #232 2/2
210873 T A 293 4-5-4-5-16-52 FS $679,000- Alii Kai At Hanalei #7101 886 #7101 2/2
218310 T A 90 4-5-4-12-5-9 FS $859,900- Pali Ke Kua Incr I, ii, iii #109A 717 #109A 1/1
212736 T A 270 4-5-4-5-16-48 FS $946,500- Alii Kai At Hanalei #5304 1,085 #5304 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.

Our first new listing is actually an old listing, only this time it comes on the market as an REO with the possibility of $1800 in back HOA dues outstanding. Ka Eo Kai 5A was previously listed from 10/06 to 4/07, starting at $615K and reducing to $575K and from 2/08 to 4/09 during which time it went from $521K to $349K. It is now listed for $319,900 and was purchased for $200K in 8/02. Hale Honu 10A is new this week, listed at $438K with a prior purchase price of $510K in 8/05. No capital gains to worry about here. Hanalei Bay Villas 8 is new on the market either as a 6 month ownership period for $465K or whole ownership for $875K. I can't remember when there's ever been so many Hanalei Bay Villas on the market at one time. There are only 39 units in the entire complex. Here are all the listings. The last two are the most recent sales:

Copyright 4/19/2009 by Hawaii Information Service

MLS DATA
MLS # Tp St DOM Taxkey Tnr Price Location Land area Details
222619 SH A 6 4-5-4-12-3-8 FS $465,000 Hanalei Bay Villas #8 1,244 #8 2/2.5
221029 T A 66 4-5-4-12-3-26 FS $799,000 Hanalei Bay Villas #26 1,244 #26 2/2.5
221505 T A 46 4-5-4-12-3-23 FS $845,000 Hanalei Bay Villas #23 1,244 #23 2/2.5
222618 T A 6 4-5-4-12-3-8 FS $875,000 Hanalei Bay Villas #8 1,244 #8 2/2.5
213212 T A 201 4-5-4-12-3-13 FS $895,000 Hanalei Bay Villas #13 1,244 #13 2/2.5
221026 T A 66 4-5-4-12-3-1 FS $899,000 Hanalei Bay Villas #1 1,244 #1 2/2.5
221028 T A 66 4-5-4-12-3-2 FS $899,000 Hanalei Bay Villas #2 1,244 #2 2/2.5
221842 T A 45 4-5-4-12-3-32 FS $899,000 Hanalei Bay Villas #32 1,248 #32 2/2
219956 T A 86 4-5-4-12-3-10 FS $925,000 Hanalei Bay Villas #10 1,244 #10 2/2.5

204295 T S 165 4-5-4-12-3-4 FS $875,000 Hanalei Bay Villas #4 1,248 #4 2/2.5
SOLD 7/14/2008 for $845,000 (CNV) DOM 165

215664 T S 39 4-5-4-12-3-9 FS $899,000 Hanalei Bay Villas #9 1,244 #9 2/2.5
SOLD 12/5/2008 for $855,000 (CASH) DOM 39

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

Villas of Kamali'i 44 is another new "old" listing. It was first listed from 12/05 to 7/06 during which time it went up and down from $950K to $924K and up to $959K, then it was listed for 21 days in 7/06 for $939K after which it was listed from 11/06 to 2/07 for $879K and finally from 5/07 to 9/08 when it went up and down ending up at $859K. It is now a bank REO listed at $699,900 with an purchase price in 5/05 of $739K. The final new listing is Sealodge D9 listed for an unbelievable $1.077M. I usually don't express too much surprise at pricing and such but considering the Pu'u Po'a 201 just closed at $825K and that Pu'u Po'a 213 went into escrow listed at $1.099M it just seems out of the ballpark to me. Additionally, you'll see that Ali'i Kai 4203 just closed this week at $850K with equally expansive ocean views. It will be interesting to see if and what this unit sells for. It was purchased in 2/99 for $180K.

Sealodge B10 went into escrow this week after 109 days on the market listed at $493K. This unit started out at $567K and reduced to $493K in February. It last sold for $530K in 4/05!

As mentioned in the new listings, Ali'i Kai 4203 sold for $850K which is more than Pu'u Po'a 201 sold for! Listed at $949K, this unit is one of the lucky ones to produce some capital gains, having been purchased for $605K in 4/04. Way to go!

Villas on the Prince 30 and Hale Honu 9B both expired this past week. Villas was listed for $769K and was purchased for $565K in 3/04 while Hale Honu was listed for $350K and was purchased for $355K in 4/04. Another Hale Honu, unit 4A also came off the market as withdrawn as did Sandpiper 222. Hale Honu 4A last sold for $153K in 5/02 and was listed as a 6 month share for $279K while Sandpiper 222 sold for $474,230 in 9/05 and was listed for $499,900.

Kamahana 4 is the first price reduction, going from $336,900 to $328,900. It is a bank REO which last sold for $499K in 9/05 after which it was taken over by the bank in 2/09. Sealodge B3, purchased for $95K in 12/99 reduced from $427,500 to $345K. Sandpiper 131 made a slight price increase of $5000 from $345K to $350K. In this case, I'd say every little bit hurts instead of helping. Sandpiper sold for $110K in 4/01. Emmalani Court 325 is still on the market and reduced down to $425K from $436K. You many recall that 3 Emmalani Court units came on the market at once, with 2 going almost immediately into escrow. This unit sold for $387K in 4/93. Pali Ke Kua 232 still hasn't sold much to my surprise and again is taking a reduction from $625K to $599,000. I wonder what he magic number will be for this unit? It last sold for $650K in 9/04. Ali'i Kai 7101 reduced from $699K to $679K and last sold for $621,400 in 12/03. Doesn't look like there will be much, if any profit when this unit finally sells. Pali Ke Kua 109 and Ali'i Kai 5304 continue to reduce by $500 a day - I guess maybe until someone buys them. Pali Ke Kua sold for $621,400 in 12/03 and Ali'i Kai sold for $135K in 1/87.

That's your update for this week. Now on to your Princeville home update:

Copyright 4/19/2009 by Hawaii Information Service

NEW LISTINGS
223366 RS A 2 4-5-4-15-1 FS $532,900 3995 Kamehameha Rd 10,244 sqft 2,117 3/2
223132 RS A 7 4-5-4-16-71 FS $799,000 4381 Emmalani Dr 12,127 sqft 1,170 2/2
223364 RS A 2 4-5-4-20-31 FS $860,000 5141 Kapi'olani Loop 9,669 sqft 2,262 5/3
223228 RS A 5 4-5-4-20-32 FS $950,000 5145 Kapi'olani Loop #III 9,826 sqft 1,920 3/2

BACK ON THE MARKET
206819 RS A 359 4-5-4-8-4 FS $735,000 3921 Punahele Rd 11,872 sqft 1,556 3/2

WITHDRAWN
221643 SH W 44 4-5-4-17-42 FS $375,000 4824 Victoria Loop 11,429 sqft 1,281 2/2
213625 RS W 268 4-5-4-20-31 FS $879,900 5141 Kapi'olani Loop 9,669 sqft 2,262 5/3

PRICE CHANGES
213870 RS A 269 4-5-4-6-12 FS $571,000- 4154 Lei O Papa Rd 11,369 sqft 1,544 2/2
206819 RS A 359 4-5-4-8-4 FS $735,000- 3921 Punahele Rd 11,872 sqft 1,556 3/2
222510 RS A 26 4-5-4-23-76 FS $750,000- 3789 Mapuana Pl 6,398 sqft 1,535 3/2.5
220531 RS A 78 4-5-4-13-44 FS $980,000- 3646 Kaweonui Rd #II 10,937 sqft 2,240 3/2
206198 RS A 453 4-5-4-17-21 FS $1,149,000- 4914 Emmalani Dr 10,500 sqft 3,238 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.

If you have questions about these or any other properties on Kauai, please call or email for the facts. I'm off to Lihue now to get a new phone. At least I can upgrade to the latest and the greatest! Ask any tech type real estate agent - we all love the newest in technology but no - not bad enough to deliberately put my phone in the washer. It's a costly mistake!

Aloha Elaine

Trail on the way to Hanakapiai Beach and Falls

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!

Aloha,

Hope you had a very Happy Easter. If you are here on Kauai then you enjoyed a magnficent day of sunshine, blue skies and strong trades - in other words, it was just perfect. Several of the visitors here at the Cliff's condos had an Easter egg hunt on my "front lawn" overlooking the ocean. Kids were excitedly running everywhere finding eggs and candy in the bushes, under trees...looked like a good time was had by all. Here is your update for this past week:

Copyright 4/12/2009 by Hawaii Information Service

NEW LISTINGS
216801 T A 4 4-5-4-12-9-28 LH $252,000 Pali Ke Kua Iii #238 993 #238 1/1.5
222926 T A 4 4-5-4-5-24-66 FS $620,000 Nihilani At Princeville Resort #22C 1,874 #22C 3/2.5
222895 T A 5 4-5-4-11-3-60 FS $1,150,000 Hanalei Bay Resort #J34 1,324 #7307-8 2/2

BACK ON THE MARKET
211530 T A 72 4-5-4-12-11-24 FS $1,795,000 Puu Poa #210 1,700 #210 2/2

CONTINGENT SALES
207634 T C 416 4-5-4-5-39-16 FS $310,000 Cliffs At Princeville #1206 917 #1206 1/2
217211 T C 137 4-5-4-5-39-39 FS $325,000 Cliffs At Princeville #2109 917 #2109 1/2
221489 T C 28 4-5-4-5-16-13 FS $495,000 Alii Kai At Hanalei #2201 1,086 #2201 2/2

SALES
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

EXPIRED
210045 T X 348 4-5-4-5-27-1 FS $440,000 Hale Honu #1A 1,085 #1A 3/1.5
209990 T X 324 4-5-4-5-30-19 FS $525,000 Princeville Mauna Kai #D301 1,488 #D301 3/2
193722 T X 729 4-5-4-12-2-35 FS $529,000 Hale Moi #215 1,033 #215 1/2

PRICE CHANGES
204804 T A 304 4-5-4-5-39-33 FS $260,000- Cliffs At Princeville #2103 917 #2103 1/2
211781 T A 314 4-5-4-5-3-24 FS $324,900- Princeville Paniolo #211 1,058 #211 1/2
214486 T A 251 4-5-4-5-18-89 FS $380,000- Puamana #24D 1,532 #24D 2/2
221307 T A 47 4-5-4-5-18-86 FS $385,000- Puamana #24A 1,312 #24A 2/2
201428 T A 570 4-5-4-5-3-16 FS $425,000- Princeville Paniolo #116 1,058 #116 1/2
216359 T A 198 4-5-4-5-24-68 FS $575,000- Nihilani At Princeville Resort #23B 1,406 #23B 2/2
214607 T A 244 4-5-4-12-9-9 FS $609,000- Pali Ke Kua #13 1,135 #13 2/2
218310 T A 83 4-5-4-12-5-9 FS $863,400- Pali Ke Kua Incr I, ii, iii #109A 717 #109A 1/1
211272 T A 331 4-5-4-5-16-35 FS $895,000- Alii Kai At Hanalei #4303 1,086 #4303 2/2
212736 T A 263 4-5-4-5-16-48 FS $950,000- Alii Kai At Hanalei #5304 1,085 #5304 2/2
211530 T A 72 4-5-4-12-11-24 FS $1,795,000- Puu Poa #210 1,700 #210 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.

The first new listing this week is really an old favorite of mine, one that I've shown many, many times during the prior 862 days on the market from 3/06 to 10/08. Listed this time at a new low of $252K, this unit previously started out in 06 at $699K and worked its way down to $335K before it was withdrawn. Yes, this is an ocean view Pali Ke Kua but it is leasehold with a monthly lease fee of $798K and HOA fee of $585K. It needs some updating but if you need tax write offs (both the lease fee and HOA are generally deductible - ck with your accountant) and / or want an inexpensive place to call home, maybe this is the unit for you. The seller puchased this unit for $369K in 5/04. Any offers are subject to lender approval. Nihilani 22C, a 3 bedroom, 2.5 bath Makani unit comes on the market at $620K and was purchased from the developer for $848,956 in 11/06. This short sale has many upgrades but faces out onto the main road (Ka Haku) which offers beautiful mountain, waterfall and golf course views. Hanalei Bay Resort 7307-8 is new on the market listed at $1.150. This unit was purchased in 10/01 for $695K then 50% was sold in 6/04 for $420K. This offering is for the complete unit.

Pu'u Po'a 210 is back on the market after being withdrawn several months ago. It is back on the market at $1.795M down from the prior price of $1.888M. This is also the last unit listed under price changes. It was purchased for $338K in 5/99.

Two Cliffs units and one Ali'i Kai went into escrow this past week. Cliffs 1206, listed at $310K and purchased for $520K in 9/05 went into escrow as a short sale after 416 DOM. Cliffs 2109 went into escrow listed at $325K and last sold for $183K in 10/02. Ali'i Kai 2201, purchased for $137,500 in 12/98 went into escrow after only 28 days on the market listed at $495K. Nice to see some of these units moving.

There was one sale this week which absolutely floored me - Pu'u Po'a 201, listed at $1.3M sold for an amazingly low price of $825K. This seller paid $350K in 10/00 and must have decided not to be greedy, and to just call it a day, put some money in the bank and be done with it. These are the current Pu'u Po'a listings and sales since 1/1/2008. You'll see that two of the units are currently in escrow:

Copyright 4/12/2009 by Hawaii Information Service
Active:
222345 T A 23 4-5-4-12-11-3 FS $1,259,000 Puu Poa #103 1,354 #103 2/2
200456 T A 585 4-5-4-12-11-14 FS $1,425,000 Puu Poa #114 2,065 #114 2/2
222524 T A 18 4-5-4-12-11-53 FS $1,500,000 Puu Poa #411 1,777 #411 2/2
212665 T A 297 4-5-4-12-11-2 FS $1,595,000 Puu Poa #102 1,352 #102 2/2
202256 T A 519 4-5-4-12-11-7 FS $1,699,000 Puu Poa #107 2,065 #107 2/2
211530 T A 72 4-5-4-12-11-24 FS $1,795,000 Puu Poa #210 1,700 #210 2/2

Escrow:
208628 T C 395 4-5-4-12-11-55 FS $1,099,000 Puu Poa #413 1,777 #413 2/2
216008 T C 198 4-5-4-12-11-47 FS $1,295,000 Puu Poa #405 1,800 #405 2/2

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

205964 T S 80 4-5-4-12-11-5 FS $1,600,000 Puu Poa #105 2,065 #105 2/2
SOLD 5/14/2008 for $1,475,000 (CNV) DOM 80

179527 T S 622 4-5-4-12-11-33 FS $1,850,000 Puu Poa #305 1,352 #305 2/2
SOLD 3/20/2008 for $1,535,000 (CNV) DOM 622

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

Several units expired starting with Hanle Honu 1A which has been listed for 348 days with only one price reduction back in 5/08 from $460K to $440K. It last sold for $385,400 in 7/04. Mauna Kai D301 expired listed at $525K after 324 market days and one price reduction from $619K to $525K in 12/08. Hale Moi 215, listed at $529K and purchased for $425K in 8/04 was also on the market a long time - for 729 days also with only one price reduction in 1/08 when it went from $559K to $529K. These three are good examples of non motivated sellers.

We have several price changes this month starting with Cliffs 2103 which reduced from $275K to $260K as a short sale. This unit sold for $50K as a leasehold in 12/98 then was converted to fee simple in 6/03 for $63K. Paniolo 211, purchased for $125K in 12/89 as a leasehold property converted to fee simple in 2/03 for $45K was reduced from $369K to $324,900. Puamana 24D, purchased for $268K in 9/03 reduced from $399,999 to $385K while Puamana 24A, purchased for $605K in 12/05 is a short sale that reduced from $495K to $385K. That's what I call keeping up with the competition. Another Paniolo, unit 116, last sold for $455K in 6/05, and was reduced from $469K to $425K.

Nihilani 23B, a 2 bedroom, 2 bath Moana unit, reduced from $625K to $575K and sold from the developer on 11/06 for $685,160. At $575K compared to the larger units, this unit is still quite a bit overpriced. Pali Ke Kua 13, purchased for $121K in 8/96 went from $629K to $609K while Pali Ka Kua 109, which has full on Hanalei Bay and Bali Hai views, went from $863,900 to $863,400. This unit is being reduced by $500 a day and has been doing this since 3/30. It's a good strategy to keep it on the daily update sheet but as far as reductions go, it doesn't generate much excitement or interest from buyers.

Ali'i Kai 4303 which last sold for $490K in 12/03 went from $949K to $895K. Ali'i Kai 5304, purchased for $135K in 1/87 went from $975K to $950K. The last one, Pu'u Po'a 210 was addressed under "back on the market."

Here is your Princeville home update:

Copyright 4/12/2009 by Hawaii Information Service

NEW LISTINGS
222875 RS A 4 4-5-4-18-24 FS $825,000 4679 Emmalani Dr 11,128 sqft 1,861 4/3

CONTINGENT SALES
215324 RS C 229 4-5-4-9-58 FS $875,000 5345 Honoiki Rd 10,005 sqft 2,572 3/3

PRICE CHANGES
195505 RS A 708 4-5-3-4-23 FS $1,350,000- 3635 Anini Rd 19,075 sqft 3,291 3/4
218502 RC A 89 4-5-3-8-67-1 FS $1,787,000- 5335-B Kapa'ka St #A 33,541 sqft 2,801 5/5
217243 RC A 167 4-5-3-8-67-2 FS $1,996,000- 5335-B Kapa'ka St #B 4.23 ac 2,499 3/3.5
213870 RS A 262 4-5-4-6-12 FS $574,500- 4154 Lei O Papa Rd 11,369 sqft 1,544 2/2
219148 RS A 117 4-5-4-15-16 FS $624,900- 3834 Haulani Pl 11,020 sqft 2,048 3/3
220705 RS A 69 4-5-4-19-19 FS $842,900- 5086 Napo'okala Cir 15,326 sqft 2,206 3/3
213625 RS A 268 4-5-4-20-31 FS $879,900- 5141 Kapi'olani Loop 9,669 sqft 2,262 5/3
209942 RS A 367 4-5-4-8-9 FS $999,000- 3887 Punahele Rd 11,139 sqft 3,246 4/3
210722 RS A 347 4-5-4-18-7 FS $1,200,000- 4170 Mahina Pl 10,751 sqft 2,310 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.

That's it for this week. I'm hopeful that the beautiful weather we experienced today will stay with us for a couple of week. We're certainly due for some extended sunshine after all the rain, but I must admit, the waterfalls and all the lush greenery is also very beautiful.

Don't forget to call or email to get the facts before you buy or sell.

Aloha Elaine

Elaine Schaefer (R, CRS, GRI, ABR)
Broker in Charge - Princeville Resort Office
Certified Residential Specialist
Graduate, Realtor's Institute
Accredited Buyer's Representative
Top Producer 100% Club

RE/MAX Kauai
Princeville Resort Office
POB 223632
Princeville, HI 96722
cell: 808 639 2935
home fax: 1 808 440 4552
email:soldonkauai@yahoo.com
website: www.KauaiRealEstateNow.com
blog: http://blogs.alohaliving.com/princeville-condo-sales/

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