Princeville Kauai condo (and house) update for the week of April 19th to 25th

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TEMPORARILY WITHDRAWN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!