Princeville condo (and house) update for the week of May 3rd to 9th

Aloha,

Happy Mother's Day to all of our wonderful mothers. My mom passed away many years ago but I'm lucky to have a friend or two who is always ready to step in and "mother me" now and then. We all need that sometimes, no matter how old we get. We've seen a little bit of movement this week with a couple of sales and one unit going into escrow. I had several showings which is always a good sign. Here is your update for this past week:

Copyright 5/10/2009 by Hawaii Information Service

NEW LISTINGS
223649 T A 7 4-5-4-5-13-13 FS $475,000 Kamahana #13 2,073 #13 3/2
223620 T A 7 4-5-4-5-18-47 FS $599,000 Puamana #13C 1,532 #13C 2/2

BACK ON THE MARKET
210757 T A 369 4-5-4-5-16-26 FS $888,000 Alii Kai At Hanalei #4102 1,086 #4102 2/2
216008 T A 226 4-5-4-12-11-47 FS $1,295,000 Puu Poa #405 1,800 #405 2/2

CONTINGENT SALES
210999 T C 356 4-5-4-12-10-42 FS $499,000 Emmalani Court #525 1,456 #525 2/2

SALES
221489 T S 22 4-5-4-5-16-13 FS $495,000 Alii Kai At Hanalei #2201 1,086 #2201 2/2
SOLD 5/6/2009 for $420,000 (CASH) DOM 22

223690 T S 0 4-5-4-5-24-99 FS $640,000 Nihilani At Princeville Resort #33C 1,972 #33C 2/3
SOLD 5/8/2009 for $640,000 (CNV) DOM 0

EXPIRED
217510 T X 181 4-5-4-11-3-95 FS $569,000 Hanalei Bay Resort #P13 867 #1105/6 1/2

WITHDRAWN
210822 T W 308 4-5-4-5-13-28 FS $325,000 Kamahana #28 1,145 #28 2/2
208801 T W 404 4-5-4-11-3-84 FS $398,500 Hanalei Bay Resort #N22 867 #N22 1/2
213212 T W 219 4-5-4-12-3-13 FS $895,000 Hanalei Bay Villas #13 1,244 #13 2/2.5

PRICE CHANGES
220199 T A 109 4-5-4-5-13-4 FS $289,900- Kamahana #4 1,145 #4 2/2
223999 T A 183 4-5-4-11-3-95 FS $569,000+ Hanalei Bay Resort #P13 867 #1105/6 1/2
222926 T A 32 4-5-4-5-24-66 FS $599,000- Nihilani At Princeville Resort #22C 1,874 #22C 3/2.5
218310 T A 111 4-5-4-12-5-9 FS $850,400- Pali Ke Kua Incr I, ii, iii #109A 717 #109A 1/1
211272 T A 359 4-5-4-5-16-35 FS $860,000- Alii Kai At Hanalei #4303 1,086 #4303 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 has been on the market several times before. Kamahana 13, currently listed for $475K, and purchased in 10/05 for $640K was previously listed from 5/06 to 9/07, starting at $719K and reducing to $686K. It was relisted in 12/07 for $686K and came off the market in 12/08 while listed at $499K. At least this seller is aware of the market and is pricing in the hopes of selling. Next up is Puamana 13C, purchased for $589K in 11/05 and listed for $599K. Compared to the others it seems a little high - these are the other Puamanas listed at this time:

Copyright 5/10/2009 by Hawaii Information Service

214486 T A 279 4-5-4-5-18-89 FS $380,000 Puamana #24D 1,532 #24D 2/2
223148 T A 11 4-5-4-5-18-71 FS $382,750 Puamana #20A 1,532 #20A 2/2
221307 T A 75 4-5-4-5-18-86 FS $385,000 Puamana #24A 1,312 #24A 2/2
206918 T A 655 4-5-4-5-18-91 FS $385,000 Puamana #25B 1,532 #25B 2/2
222149 T A 59 4-5-4-5-18-1 FS $410,000 Puamana #1A 1,312 #1A 2/2
221962 T A 62 4-5-4-5-18-30 FS $416,900 Puamana #8C 1,532 #8C 2/2
218778 T A 156 4-5-4-5-18-60 FS $435,000 Puamana #17A 1,312 #17A 2/2
219363 T A 135 4-5-4-5-18-68 FS $449,000 Puamana #19B 1,660 #19B 3/2
216508 T A 213 4-5-4-5-18-38 FS $499,500 Puamana #11A 1,312 #11A 2/2
217229 T A 193 4-5-4-5-18-6 FS $549,000 Puamana #2B 1,532 #2B 2/2
191813 T A 810 4-5-4-5-18-21 FS $579,000 Puamana #6B 1,732 #6B 3/2
223620 T A 7 4-5-4-5-18-47 FS $599,000 Puamana #13C 1,532 #13C 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.

Ali'i Kai 4102 is back on the market still listed at $888K after expiring with 369 days on the market. It was purchased in 6/00 for $261K. Pu'u Po'a 405, purchased for $430K in 1/00 is back on the market after going into escrow on 1/16. It's always unfortunate to have a property off the market for several months only to have the escrow be cancelled for whatever reason and find yourself back on the market. This unit is listed at $1.295M.

Emmalani Court 525 finally found a buyer with 356 days on the market. Purchased in 1/03 for $400K, this unit started out at $675K in 5/08, reduced to $499K in 4/09 and went into escrow on 5/9. I'm happy to report that Ali'i Kai 2201, which was my listing, went into escrow in only 22 days and closed on 5/6 at $420K. This unit was purchased in 12/98 for $137,500. Another developer's Nihilani unit closed escrow; unit 33C which was listed for $640K, closing for the same amount. Get them while you can-the developer is selling out one by one!

Hanalei Bay Resort 1105/06 expired after 181 days listed at $569K. It was previously listed from 11/08 to 5/09 for $569K with no takers. Several units were withdrawn starting with Kamahana 28, listed for $325K and purchased for $599K in 4/06. This was a short sale. Hanalei Bay Resort N22 was also withdrawn while listed at $389,500. This unit sold for $469,900 in 1/06. Also withdrawing is Hanalei Bay Villas 13, listed for $895K and purchased for $235K in 5/99. Unfortunately, the MLS only shows loans on the properties when they were purchased - not any refinancing. I often wonder why some of these units are not reduced to sell as it appears, in this case as in others, there is more than ample equity to do so. But - you never know if the equity was already taken out or what the needs of the seller are.

Moving right along to our favorite: Price reductions. They start with Kamahana 4, which sold for $499K in 9/05 and was taken by the bank in 2/09 then reduced from $328,900 to $289,900. Now that's getting down there! If you're looking for a 2 bedroom 2 bath condo this might do it for you. Hanalei Bay Resort 1105/06 which shows as expiring as of 5/3 listed at $569K, apparently came back on the market on 5/8 at $565K and was immediately increased to the prior price. Just a correction on that one - not really an increase although it appears that a correction in the opposite direction might be more helpful in getting it sold. Nihilani 22C, a resale originally purchased for $848,956 on 11/06 reduced from $620K to $599K as a short sale. This Makani unit is beautifully upgraded and gives the developer's 15B Makani listed at $648K a run for it's money. 22C is in a less desirable location if you don't like noise as it faces onto the main road in Princeville (Ka Haku) but if you like views, and a little traffic noise doesn't bother you, then this might be the one to consider. As you might expect, it is a short sale.

Pali Kei Kua 109A continues to reduce by $500 a day while Ali'i Kai 4303, purchased for $490K in 12/03 reduced from $875K to $860K. That's your condo updat for this week. Now on to your Princeville home update:

Copyright 5/10/2009 by Hawaii Information Service

NEW LISTINGS
223822 RS A 6 4-5-4-13-6 FS $679,000 3695 Kaweonui Rd 11,121 sqft 2,492 4/2

BACK ON THE MARKET
220705 RS A 97 4-5-4-19-19 FS $825,900 5086 Napo'okala Cir 15,326 sqft 2,206 3/3
214181 RS A 273 4-5-4-24-12 FS $1,295,000 4246 Waileia Pl 11,741 sqft 3,006 4/3

UNDER CONTRACT
219148 RS U 144 4-5-4-15-16 FS $588,900 3834 Haulani Pl 11,020 sqft 2,048 3/3

EXPIRED
211122 RS X 361 4-5-4-13-37 FS $1,975,000 3584 Kaweonui Rd 14,685 sqft 3,500 4/3.5

WITHDRAWN
215193 RS W 255 4-5-4-23-8 FS $674,000 4838 Ou Pl 8,104 sqft 1,213 3/1.5

TEMPORARILY WITHDRAWN
223132 RS T 23 4-5-4-16-71 FS $799,000 4381 Emmalani Dr 12,127 sqft 1,170 2/2

PRICE CHANGES
223366 RS A 23 4-5-4-15-1 FS $524,900- 3995 Kamehameha Rd 10,244 sqft 2,117 3/2
213870 RS A 290 4-5-4-6-12 FS $565,000- 4154 Lei O Papa Rd 11,369 sqft 1,544 2/2
212844 RS A 323 4-5-4-22-5 FS $639,000- 4077 Cr Pauahi Pl/nalani 10,270 sqft 2,169 4/2
220705 RS A 97 4-5-4-19-19 FS $825,900- 5086 Napo'okala Cir 15,326 sqft 2,206 3/3
218518 RS A 150 4-5-4-23-71 FS $849,000- 3784 Mapuana Pl 9,985 sqft 1,857 3/2.5
220531 RS A 99 4-5-4-13-44 FS $960,000- 3646 Kaweonui Rd #II 10,937 sqft 2,240 3/2

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

I haven't seen the new listing on Kaweonui for $679K lately but if I was in the market for a home, I might have my agent take me to see it. I used to live off of Kaweonui and know it to be a very nice, quiet street. This home sold for $1.015M in 11/06 and appears to have been quit claimed to the bank as of 3/09. Not really sure though at this point. I've been in this home in the past while it was listed from 5/08 to 7/08 for $1.4M. During this time it reduced to $1.160M. It was listed again from 7/08 to 12/08 as a possible short sale for $899K. My vague recollection of this home is that the floor plan did not flow whatsoever. Maybe I'll take a refresher look this week if time permits.

That's it for now. Hope your day was filled with either giving or receiving flowers, balloons, candy and all other good things. When it comes to buying or selling call or email to get the facts before you make a move. That's why I'm here.

Aloha Elaine

A fragrant plumeria for you!

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!