Princeville condo (and house) update for the week of March 22nd to 28th

Aloha,

It's been another windy and cool week but I'm seeing more and more good pricing coming onto the market, bringing some really unbelievable opportunities to savvy buyers. Take a look at the activity for last week:

Copyright 3/29/2009 by Hawaii Information Service

NEW LISTINGS
222697 T A 2 4-5-3-11-1-3 FS $576,900 Villas On The Prince #3 1,737 #3 3/3
221617 T A 1 4-5-3-6-22-16 FS $3,100,000 Kaiulani Of Princeville #16 2,843 #16 3/3.5
222630 T A 2 4-5-4-12-10-20 FS $330,000 Emmalani Court #323 952 #323 1/2
222629 T A 2 4-5-4-12-10-22 FS $436,000 Emmalani Court #325 1,456 #325 2/2
222621 T A 2 4-5-4-12-10-12 FS $449,000 Emmalani Court #225 1,456 #225 2/2
222323 T A 6 4-5-4-5-39-191 FS $685,000 Cliffs At Princeville #9201 963 #9201 1/2
222351 T A 4 4-5-4-5-39-138 FS $750,000 Cliffs At Princeville #5308 1,186 #5308 1/2
222557 T A 5 4-5-4-11-3-125 FS $850,000 Hanalei Bay Resort #R17 867 #3105-6 1/2
222524 T A 4 4-5-4-12-11-53 FS $1,500,000 Puu Poa #411 1,777 #411 2/2

BACK ON THE MARKET
208860 SH A 368 4-5-4-5-23-35 FS $200,000 Plantation At Princeville #921 1,318 #921 3/3

SALES
219933 T S 119 4-5-4-12-10-24 FS $475,000 Emmalani Court #412 1,192 #412 2/2
SOLD 3/27/2009 for $450,000 (CNV) DOM 119

UNDER CONTRACT
221272 T U 35 4-5-4-5-24-102 FS $650,000 Nihilani At Princeville Resort #34C 1,972 #34C 3/3

EXPIRED
209306 T X 364 4-5-4-6-1-12 FS $900,000 Villas Of Kamalii #12 1,825 #12 3/3

TEMPORARILY WITHDRAWN
207020 T T 395 4-5-4-5-7-13 FS $659,000 Princeville Sealodge #B5 748 #B5 2/2

PRICE CHANGES
214620 T A 229 4-5-3-6-22-39 FS $1,300,000- Kaiulani Of Princeville #39 2,479 #39 3/3
204804 T A 290 4-5-4-5-39-33 FS $275,000- Cliffs At Princeville #2103 917 #2103 1/2
220199 T A 67 4-5-4-5-13-4 FS $336,900- Kamahana #4 1,145 #4 2/2
222557 T A 5 4-5-4-11-3-125 FS $850,000+ Hanalei Bay Resort #R17 867 #3105-6 1/2
211712 T A 310 4-5-4-11-3-7 FS $1,025,000- Hanalei Bay Resort #B13 1,324 #9123/4 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.

Villas on the Prince 3 is the first new listing, priced at an amazing $576,900. Purchased in 9/05 for $840K and taken over by the bank on 2/09, this unit was previously listed from 1/08 to 1/09 during which time the seller desperately tried to sell, with a starting price of $850K and an end price of $695K. At $576K, this unit should go in a heartbeat. Take a look at what sold in the Villas since 1/1/08:

Copyright 3/30/2009 by Hawaii Information Service

208189 T S 119 4-5-3-11-1-29 FS $749,000 Villas On The Prince #29 1,732 3/3
SOLD 9/8/2008 for $700,000 (CNV) DOM 119

172114 T S 709 4-5-3-11-1-28 FS $799,000 Villas On The Prince #28 1,800 3/3
SOLD 2/29/2008 for $799,000 (CASH) DOM 709

185798 T S 533 4-5-3-11-1-14 FS $869,000 Villas On The Prince #14 1,737 3/3
SOLD 4/16/2008 for $825,000 (CNV) DOM 533

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

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

Take a look at what the other listings are priced at:

Copyright 3/30/2009 by Hawaii Information Service

222697 T A 3 4-5-3-11-1-3 FS $576,900 Villas On The Prince #3 1,737 #3 3/3
220884 T A 49 4-5-3-11-1-27 FS $750,000 Villas On The Prince #27 1,732 #27 3/3
216836 T A 169 4-5-3-11-1-30 FS $769,000 Villas On The Prince #30 1,767 #30 3/3
207580 T A 399 4-5-3-11-1-20 FS $869,000 Villas On The Prince #20 1,767 #20 3/3
209505 T A 328 4-5-3-11-1-32 FS $895,000 Villas On The Prince #32 1,737 #32 3/3
212012 T A 292 4-5-3-11-1-16 FS $970,000 Villas On The Prince #16 1,732 #16 3/2.5
216277 T A 135 4-5-3-11-1-10 FS $985,000 Villas On The Prince #10 1,732 #10 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 thought this was a good buy, you should have written something over the weekend because this will not last.

Ka'iulani 16, listed at $3.1M, sold for $2,127,240 from the developer on 4/08. Here are the other Ka'iulani units on the market:

209244 T A 364 4-5-3-6-22-63 FS $894,000 Kaiulani Of Princeville #63 1,901 #63 2/2.5
221046 T A 17 4-5-3-6-22-64 FS $900,000 Kaiulani Of Princeville #64 1,738 #64 2/2.5
212581 T A 286 4-5-3-6-22-61 FS $975,000 Kaiulani Of Princeville #61 1,738 #61 2/2.5
207166 T A 417 4-5-3-6-22-59 FS $995,000 Kaiulani Of Princeville #59 1,892 #59 2/2.5
206788 T A 417 4-5-3-6-22-70 FS $995,000 Kaiulani Of Princeville #70 1,781 #70 2/2.5
206220 T A 420 4-5-3-6-22-67 FS $1,049,000 Kaiulani Of Princeville #67 1,781 #67 2/2.5
214620 T A 230 4-5-3-6-22-39 FS $1,300,000 Kaiulani Of Princeville #39 2,479 #39 3/3
218646 T A 118 4-5-3-6-22-51 FS $1,749,000 Kaiulani Of Princeville #51 2,443 #51 3/3.5
218650 T A 118 4-5-3-6-22-52 FS $1,749,000 Kaiulani Of Princeville #52 2,479 #52 3/3
217907 T A 126 4-5-3-6-22-27 FS $1,795,000 Kaiulani Of Princeville #27 2,864 #27 3/3.5
215271 T A 217 4-5-3-6-22-48 FS $1,799,000 Kaiulani Of Princeville #48 2,479 #48 3/3
221745 T A 17 4-5-3-6-22-29 FS $1,975,000 Kaiulani Of Princeville #29 2,864 #29 3/3.5
218644 T A 118 4-5-3-6-22-11 FS $1,995,000 Kaiulani Of Princeville #11 2,864 #11 3/3.5
207615 T A 393 4-5-3-6-22-9 FS $2,100,000 Kaiulani Of Princeville #9 2,864 #9 3/3.5
210971 T A 136 4-5-3-6-22-10 FS $2,150,000 Kaiulani Of Princeville #10 2,864 #10 3/3.5
214648 T A 235 4-5-3-6-22-2 FS $2,195,000 Kaiulani Of Princeville #2 2,843 #2 3/3.5
217582 T A 143 4-5-3-6-22-18 FS $2,349,000 Kaiulani Of Princeville #18 2,864 #18 3/3.5
221506 T A 1 4-5-3-6-22-17 FS $2,399,000 Kaiulani Of Princeville #17 2,864 #17 3/3.5
219806 T A 80 4-5-3-6-22-6 FS $2,465,000 Kaiulani Of Princeville #6 2,861 #6 3/3.5
220019 T A 42 4-5-3-6-22-20 FS $2,650,000 Kaiulani Of Princeville #20 2,864 #20 3/3.5
221617 T A 2 4-5-3-6-22-16 FS $3,100,000 Kaiulani Of Princeville #16 2,843 #16 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.

The next three new listings are all owned by the same person and are another example of excellent pricing. Emmalani court 323, priced at $330K (this is less than most Sandpipers!) sold for $275K in 4/93, unit 325 listed at a very nice $436K sold for $387 in 4/93 and unit 225, listed at $449K sold for $397K in 4/93. These prices are less than what the Emmalani Court bank REO just sold for as you'll see further down in this report. If you've been looking for a nice Emmalani Court, run don't walk to your computer or phone and call to see these units.

Cliffs 9201, purchased from the developer as a leasehold in 12/86 for $135K and converted to fee simple in 11/91 for $22,500, is back as a new listing priced at $685K. Building 9 offers unobstructed ocean views plus this unit is a second floor end unit which has 50 sqft more space and more windows. It was previously listed from 8/07 to 1/09, starting at $975K and reducing to $765K. At this price this seller should get some activity.

Cliffs 5308 is also new on the market, listed at $750K and was purchased for $347,375 on 2/04 as leasehold and converted to fee simple at the same time for $117,810. This unit was completely renovated several years back to include a new kitchen, new master bath and new flooring throughout. It doesn't look like so many of the other Cliffs units do and even has a decent sized pantry in the kitchen.

Hanalei Bay Resort 3105/6 is back on the market as a new listed at $850K. Purchased in 5/05 for $895K, this unit was previously listed from 1/08 to 2/09 at $995K. Pu'u Po'a 411 is also back as a new listing, priced at $1.5M. This unit was listed from 10/07 to 7/08 during which time it went from $2.149M to $1.995M. It sold for $320K in 6/97.

Plantation 921 is back on the market as a fractional share for $200K. Don't confuse this with ownership of a whole unit-this is for a 60 day period of ownership in this property. It was purchased in 10/05 for $750K. It looks like one fractional share has already sold on 3/06 for $181K.

There were no properties that went into escrow but Emmalani Court 412, a bank REO, listed at $475K closed for $450K. This unit sold for $775K in 2/06 and went back to the bank in 08. Brookfield's Nihilani developer units are seeing some success with their new low pricing. Unit 34C just went under contract with a list price of $650K. This unit has previously been listed from 4/08 to 8/08 for $769,200. Looks like they'll get this project sold out after all!

Villas of Kamali'i 12 was withdrawn listed at $900K. This unit sold for $750k in 6/05. Sealodge B5 was temporarily withdrawn, listed at $659K with 395 market days. It started out at $730K and was only slightly reduced during the life of the listing. This unit sold for $220K in 12/99

As for price changes; first up is Ka'iulani 39, purchased for $1,503,600 in 3/07 and reduced from $1.4M to $1.3M. Now that's what I call a reduction. Cliffs 2103 is still trying to find a buyer and reduced from $299K to $275K. This unit sold for $50K back in 12/98 as a leasehold and was converted to fee simple in 6/03 for $63K. Kamahana 4, another bank REO, moved from $344,900 to $336,900. This unit sold for $499K in 9/05 and was taken back by the bank in 2/09. Hanalei Bay Resort 3105/6, which is a new listing this week, first came on the market at $825K but was then bumped up to $850K as the start price. Another Hanalei Bay Resort unit 9123/4/ moved from $1.065M to $1.025M and was purchased for $359K in 11/00.

That's it for condos - now on to your Princeville home update:

Copyright 3/30/2009 by Hawaii Information Service

NEW LISTINGS
222510 RS A 6 4-5-4-23-76 FS $775,000 3789 Mapuana Pl 6,398 sqft 1,535 3/2.5

UNDER CONTRACT
208367 RS U 321 4-5-4-17-23 FS $895,000 4890 Victoria Loop 10,678 sqft 1,780 3/3

PRICE CHANGES
215193 RS A 218 4-5-4-23-8 FS $697,000- 4838 Ou Pl 8,104 sqft 1,213 3/1.5
215559 RS A 206 4-5-4-7-6 FS $1,995,000- 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.

Even some of the home prices are coming down. Surprisingly, the bank REO at 3834 Haulani Road listed at $644,900 is still available. Call or email if you want more information. Don't forget, 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: www.blogs.alohaliving.com/princeville-condo-sales

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