Princeville, HI

Aloha,

Welcome back from a long holiday weekend. I know I'm late with this week's update but it was a very busy weekend for me....and yes, I just had to go to the beach for a couple of hours yesterday. You would have done the same if you were here; it was such a spectacular day. We've had several days in a row now that were simply outstanding - truly how you envision the weather to be in "paradise." I worked through the weekend and finally found my way to Kalihiwai Beach where there was a private patch of sand just waiting for me. The surf was just high enough to entertain visitors and locals alike as they jumped in the waves while also lulling people like myself to sleep who were settled comfortably on the sand nodding off to the sound of the gently crashing waves.

It's what I now refer to jokingly as a "brocha" day....Several years ago my girlfriend and I went to Australia for a vacation. Upon meeting one of our guides, he commented on the beautiful weather by saying it was a "brocha" day. My girlfriend and I looked quizzically at each other, then she asked, "What's a brocha day?" "You know" he said, just like in the "brocha." The Brochure!!!!.....Yes, such beautiful weather that the picture would certainly be in the best travel brochure. It was just the Australian accent that threw us off!

Enough reminiscing; here is your update. Look closely and maybe you'll find your piece of paradise so you too can enjoy many brocha days!

Copyright 2/19/2008 by Hawaii Information Service

NEW LISTINGS
204980 SH A 7 4-5-4-5-23-28 FS $198,000 Plantation At Princeville #722 1,318 #722 3/3
207093 T A 7 4-5-4-5-30-11 FS $599,000 Princeville Mauna Kai #F21 1,478 #F21 3/2
207326 T A 5 4-5-4-5-24-62 FS $600,000 Nihilani At Princeville Resort #21B 1,400 #21B 2/2

BACK ON THE MARKET
174822 T A 628 4-5-4-12-9-28 LH $350,000 Pali Ke Kua Iii #238 993 #238 1/1.5

CONTINGENT SALES
172114 T C 714 4-5-3-11-1-28 FS $799,000 Villas On The Prince #28 1,800 #11-28 3/3
194231 T C 314 4-5-3-6-22-43 FS $1,685,000 Kaiulani Of Princeville #43 2,443 #43 3/3.5

SALES
152028 T S 6 4-5-3-6-22-10 FS $1,900,000 Kaiulani Of Princeville #10 2,873 #10 3/3.5
SOLD 2/15/2008 for $1,921,440 (CNV) DOM 6

UNDER CONTRACT
204020 T U 86 4-5-4-12-2-28 FS $495,000 Hale Moi #208 1,033 #208 2/2
183283 T U 522 4-5-4-5-23-66 FS $578,000 Plantation At Princeville #1712 1,153 #1712 2/2

WITHDRAWN
183228 T W 536 4-5-4-15-21-33 FS $510,000 Sandpiper Village I #133 1,042 #133 2/2

PRICE CHANGES
203022 T A 116 4-5-3-11-1-30 FS $859,000+ Villas On The Prince #30 1,761 #12-30 3/3
195595 T A 285 4-5-4-5-27-8 FS $416,000- Hale Honu #4B 866 #4B 2/1
171233 T A 767 4-5-4-11-3-84 FS $450,000- Hanalei Bay Resort #N22 867 #1513 1/2
196998 T A 252 4-5-4-15-21-43 FS $460,000- Sandpiper Village I #206 1,173 #206 2/2.5
205798 T A 41 4-5-4-6-1-34 FS $849,000- Villas Of Kamalii #34 1,825 #34 3/3
196893 T A 257 4-5-4-12-9-30 FS $849,000- Pali Ke Kua Iii #242 1,135 #242 2/2
172114 T C 714 4-5-3-11-1-28 FS $799,000- Villas On The Prince #28 1,800 #11-28 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.

Starting with our new listings, the Plantation unit # 722 is a fractional at $198K. This unit was purchased by the seller in 11/06 for $740K. Mauna Kai unit F21 has been listed a couple of times before; once from 7/06 to 3/07, starting at $675K and ending at $598K, another time from 5/07 to 9/07, starting at $639K and ending at $580K and finally from 10/07 to 12/07 when it was listed for $589K. Each time this property was withdrawn from the market. It was purchased in 8/04 for $400K and is listed by the owner, who is a real estate agent. Nihilani 21B is also a "recycled" listing, having been previously listed from 1/07 to 1/08 starting at $722K and working its way down to $600K. It is now again listed for $600K which is well below the seller's purchase price of $656,650 in 10/06. Since this condo is new and never lived in it looks like the seller bought it for investment with the intention of flipping it shortly after taking possession. It's unfortunate that the changing market has so dramatically impacted their plans.

Also, I am disappointed to report that the Leasehold Pali Ke Kua unit #238 that went into escrow on 1/15/08 after 628 days on the market, is now back on the market! Let's see how much longer it must wait to find a buyer!

We have two properties that went into escrow; one is Villas on the Prince unit #28 which was purchased from the developer on 10/02 for $507,577. This unit was first listed on 3/06 for $1.195M and gradually reduced until it went to $799K from $889 on 2/12/08. Two days later it went into escrow. This unit was also listed as a fractional and will probably remain active until the contingencies are removed from this transaction. Also showing contingent is the first Ka'iulani resale which I discussed in my last blog. It was purchased for $1,861,490 on 3/07 and went into escrow listed at $1.685M.

The only sale this past week was another Ka'iulani developer's sale.

Two units moved from Contingent to Under Contract status: Hale Moi #208 which went into escrow listed at $495K. This unit was previously listed from 10/07 to 11/07 during which time it was reduced from $525K to $475K. Even though it was relisted at the higher price of $495K it quickly found a buyer with only 86 days on the market. Plantation unit #1712 is short sale and is obviously moving towards closing. It went into escrow on 1/18/08.

My favorite section is always the price changes. This time we only have one unit that is bucking the downward trend and that is Villas on the Prince #30 which was increased from $839K to $859K. Maybe this is the magical numerical combination to bring in a buyer. Villas was purchased in 3/04 for $565K. Hale Honu 4B posted a big reduction from $465K to $416K on 2/16/08. They followed up with a $1000 price reduction 2/19 from $416K to $415K. This unit has been on the market for 285 days and was purchased in 3/06 for $430K. No profit to be made here....

Hanalei Bay Resort unit N22 went from $488K to $450 starting from an all time high of $599K. This unit was purchased on 1/06 for $469,900 and is partially owned by the agent/seller. Sandpiper #206 went from $480K to $460K and was purchased in 11/99 $114,500. Villas of Kamali'i #34 was reduced from $920K to $849K and was purchased in 12/04 for $670K. Pali Ke Kua #244 was reduced from $899K to $849K and was purchased 5/04 for $555K. And finally we have the Villas on the Prince which was discussed under contingent properties.

Moving right along, here are your residential changes for this past week:

Copyright 2/19/2008 by Hawaii Information Service

NEW LISTINGS
207318 RS A 4 4-5-4-10-10 FS $750,000 4115 Kekuanao'a Ln 9,969 sqft 1,228 3/1.75
207210 RS A 6 4-5-4-16-87 FS $865,000 4120 Nalani Ln 11,740 sqft 1,725 3/2
207321 RS C 8 4-5-4-19-5 FS $975,000 5170 Napookala Cir 20,035 sqft 1,776 3/2

BACK ON THE MARKET
202559 RS A 124 4-5-4-7-12 FS $1,950,000 3912 Namakeha Loop 10,055 sqft 2,300 3/3

CONTINGENT SALES
189932 RS C 398 4-5-4-18-17 FS $679,000 4725 Emmalani Dr 10,248 sqft 1,388 2/2
201643 RS C 144 4-5-4-23-7 FS $725,000 4834 Ou Pl 7,650 sqft 1,200 3/2.5
207321 RS C 8 4-5-4-19-5 FS $975,000 5170 Napookala Cir 20,035 sqft 1,776 3/2

SALES
196946 RS S 205 4-5-4-8-24 FS $895,000 5072 Kamamalu Loop 10,806 sqft 2,270 3/2.5
SOLD 2/14/2008 for $845,000 (CASH) DOM 205

WITHDRAWN
198795 SH W 206 4-5-4-19-5 FS $270,000 5170 Napookala Cir 20,035 sqft 1,748 3/2
198792 SH W 206 4-5-4-19-5 FS $270,000 5170 Napookala Cir 20,035 sqft 1,748 3/2
198791 SH W 206 4-5-4-19-5 FS $320,000 5170 Napookala Cir 20,035 sqft 1,748 3/2
198794 SH W 206 4-5-4-19-5 FS $330,000 5170 Napookala Cir 20,035 sqft 1,748 3/2
198793 SH W 206 4-5-4-19-5 FS $330,000 5170 Napookala Cir 20,035 sqft 1,748 3/2
198796 SH W 206 4-5-4-19-5 FS $350,000 5170 Napookala Cir 20,035 sqft 1,748 3/2

PRICE CHANGES
205270 RS A 59 4-5-4-23-53 FS $849,000- 3785 Milimakani Pl 7,812 sqft 1,678 3/2
200442 RS A 168 4-5-4-19-14 FS $1,795,000- 5101 Kuhina Pl 20,646 sqft 3,276 4/3.5
203900 RS A 90 4-5-4-14-26 FS $2,275,000- 3925 Kamehameha Rd 20,093 sqft 3,925 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 any question on any of the home changes for this week, please do not hesitate to call or email and I'll be happy to research any property for you. Have a wonderful sunny 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!

The news today is that what I believe to be the firse resale Ka'iulani went into escrow after 307 days on the market. This unit is priced at $1,685,000; down considerably from the original $2,150,000 it was listed for in 4/07. Unfortunately, this unit was purchased for $1,861,490 in 3/07, which will probably net the seller a nice tax deduction for 08.

These are all the Ka'iulanis currently listed and in escrow/under contract:

Copyright 2/12/2008 by Hawaii Information Service
Listed
207166 T A 5 4-5-3-6-22-59 FS $995,000 Kaiulani Of Princeville #59 1,892 #59 2/2.5
206788 T A 5 4-5-3-6-22-70 FS $995,000 Kaiulani Of Princeville #70 1,781 #70 2/2.5
206220 T A 8 4-5-3-6-22-67 FS $1,095,000 Kaiulani Of Princeville #67 1,901 #67 2/2.5
207194 T A 4 4-5-3-6-22-72 FS $1,295,000 Kaiulani Of Princeville #72 1,901 #72 2/2.5
202550 T A 119 4-5-3-6-22-41 FS $1,590,000 Kaiulani Of Princeville #41 2,479 #41 3/3
202473 T A 112 4-5-3-6-22-27 FS $1,899,000 Kaiulani Of Princeville #27 2,864 #27 3/3.5
206549 T A 18 4-5-3-6-22-3 FS $1,900,000 Kaiulani Of Princeville #3 2,843 #3 3/3.5
205973 T A 28 4-5-3-6-22-48 FS $1,900,000 Kaiulani Of Princeville #48 2,476 #48 3/3
203934 T A 87 4-5-3-6-22-22 FS $2,395,000 Kaiulani Of Princeville #22 2,864 #22 3/3.5
201156 T A 103 4-5-3-6-22-18 FS $2,500,000 Kaiulani Of Princeville #18 2,864 #18 3/3.5
203210 T A 12 4-5-3-6-22-20 FS $2,650,000 Kaiulani Of Princeville #20 2,864 #20 3/3.5

Contingent
194231 T C 307 4-5-3-6-22-43 FS $1,685,000 Kaiulani Of Princeville #43 2,443 #43 3/3.5

Under Contract (all developer's units)
152060 T U 0 4-5-3-6-22-71 FS $825,000 Kaiulani Of Princeville #71 1,901 #71 2/2.5
152059 T U 0 4-5-3-6-22-69 FS $835,000 Kaiulani Of Princeville #69 1,901 #69 2/2.5
152065 T U 0 4-5-3-6-22-61 FS $855,000 Kaiulani Of Princeville #61 1,781 #61 2/2.5
152066 T U 0 4-5-3-6-22-64 FS $855,000 Kaiulani Of Princeville #64 1,781 #64 2/2.5
152056 T U 0 4-5-3-6-22-65 FS $855,000 Kaiulani Of Princeville #65 1,901 #65 2/2.5
152053 T U 0 4-5-3-6-22-60 FS $870,000 Kaiulani Of Princeville #60 1,901 #60 2/2.5
151410 T U 0 4-5-3-6-22-57 FS $875,000 Kaiulani Of Princeville #57 1,901 #57 2/2.5
151413 T U 0 4-5-3-6-22-58 FS $875,000 Kaiulani Of Princeville #58 1,781 #58 2/2.5
152054 T U 0 4-5-3-6-22-62 FS $995,000 Kaiulani Of Princeville #62 1,901 #62 2/2.5
152095 T U 0 4-5-3-6-22-51 FS $1,650,000 Kaiulani Of Princeville #51 2,430 #51 3/3.5
152075 T U 0 4-5-3-6-22-5 FS $1,750,000 Kaiulani Of Princeville #5 2,861 #5 3/3.5
152027 T U 152 4-5-3-6-22-9 FS $1,900,000 Kaiulani Of Princeville #9 2,864 #9 3/3.5
152028 T U 6 4-5-3-6-22-10 FS $1,900,000 Kaiulani Of Princeville #10 2,873 #10 3/3.5
152081 T U 0 4-5-3-6-22-16 FS $2,100,000 Kaiulani Of Princeville #16 2,861 #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.

A buyer's market makes it hard to flip property, no matter how beautiful and spectacular it is - which certainly describes Ka'iulani. 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!

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!