Princeville, HI

Aloha,

Although the first day of fall isn't until September 22, for all intents and purposes the summer selling season has come to an end with a whimper! Yes a whimper! Sure we had some sales but not nearly enough to even begin to consider this a hot summer season. Buyers continue to stand on the sidelines waiting to see what will happen next. Unfortunately, at the same time Fannie Mae and Freddie Mac continue to change guidelines which results in more "hoop jumping" when it comes to obtaining a loan, unless, of course, you are a first time home buyers which seems to be where the financial incentives and benefits are focused on at this time. Let's just hope when buyers finally think pricing is where they want it, the lenders are still interested in lending. Here is your update:

Copyright 8/31/2009 by Hawaii Information Service

NEW LISTINGS
222149 T A 5 4-5-4-5-18-1 FS $325,000 Puamana #1A 1,312 #1A 2/2
226998 T A 4 4-5-4-12-2-39 FS $349,000 Hale Moi #219 1,033 #219 1/2
208369 T A 5 4-5-4-5-39-127 FS $525,000 Cliffs At Princeville #5205 917 #5205 1/2
227167 T A 3 4-5-4-5-24-74 FS $599,000 Nihilani At Princeville Resort #25B 1,567 #25B 2/2.5
211272 T A 5 4-5-4-5-16-35 FS $795,000 Alii Kai At Hanalei #4303 1,086 #4303 2/2
227179 T A 3 4-5-4-6-1-54 FS $849,000 Villas Of Kamalii #54 1,767 #54 3/3
226466 T A 5 4-5-4-5-16-36 FS $940,000 Alii Kai At Hanalei #4304 1,086 #4304 2/2

CONTINGENT SALES
220078 T C 220 4-5-4-5-3-19 FS $239,000 Princeville Paniolo #204 1,058 #204 1/2

SALES
221360 T S 148 4-5-4-12-2-36 FS $345,000 Hale Moi #216 1,033 #216 2/2
SOLD 8/26/2009 for $300,000 (CASH) DOM 148

223488 T S 64 4-5-4-15-21-30 FS $349,000 Sandpiper Village I #130 1,042 #130 2/2
SOLD 8/26/2009 for $300,000 (CNV) DOM 64

UNDER CONTRACT
209244 T U 448 4-5-3-6-22-63 FS $894,000 Kaiulani Of Princeville #63 1,901 #63 2/2.5

WITHDRAWN
204980 SH W 562 4-5-4-5-23-28 FS $175,000 Plantation At Princeville #722 1,318 #722 3/3
212672 SH W 654 4-5-4-12-11-7 FS $297,500 Puu Poa #107 2,065 #107 2/2
226710 T W 268 4-5-4-5-23-30 FS $445,000 Plantation At Princeville #812 1,153 #812 2/2
183699 T W 1,092 4-5-4-5-23-25 FS $619,000 Plantation At Princeville #711 1,153 #711 2/2

TEMPORARILY WITHDRAWN
217010 SH T 311 4-5-4-6-1-49 FS $230,000 Villas Of Kamalii #49 1,825 #49 3/3
217215 SH T 311 4-5-4-6-1-49 FS $245,000 Villas Of Kamalii #49 1,825 #49 3/3
200456 T T 722 4-5-4-12-11-14 FS $1,425,000 Puu Poa #114 2,065 #114 2/2

PRICE CHANGES
225703 T A 52 4-5-4-15-21-34 FS $265,000- Sandpiper Village I #134 1,042 #134 2/2
200564 T A 14 4-5-4-5-16-2 FS $498,000- Alii Kai At Hanalei #1102 1,086 #1102 2/2
222635 T A 115 4-5-4-5-12-19 FS $499,000+ Sealodge Ii #H1 556 #H1 1/1
218310 T A 224 4-5-4-12-5-9 FS $719,900- Pali Ke Kua Incr I, ii, iii #109A 717 #109A 1/1
220840 T A 177 4-5-4-6-1-33 FS $879,000+ Villas Of Kamalii #33 1,825 #33 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.

Puamana 1A is a re-entry to the new listing catagory, having been previously listed from 11/06 to 2/07, starting at $588K and reducing to $545K, and again from 6/08 to 1/09, during which time it went from $515K to $440K. This time around it is listed for $325K, and will still yield a capital gain should it sell anywhere near this price, as the seller paid $157K for the unit in 7/01. Also back on the market for another try is Hale Moi 219, currently listed for $349K and last selling for $493K in 3/05. This short sale was previously listed from 12/08 to 4/09 starting at $539K and reducing to $493K. Cliffs 5205, which last sold for $600K in 6/05 is new on the market listed at $525K. Nihilani 25B, purchased for $776K in 12/06 is listed at $599K for the two bedroom, 2.5 bath Moana floor plan. Ali'i Kai 4303, which sold in 12/03 for $490K is listed for $795K. Villas of Kamali'i 54, which was listed from 5/06 to 1/07 for $1.185M before reducing to $1.095M is new this week at $849K. This unit sold for $607,500 in 11/03. The final new listing is Ali'i Kai 4304, priced at $940K. This unit was purchased for $541,500 in 2/04.

To offset all those new and returning listings, we had one unit go into escrow this past week: Paniolo 204 listed at $239K. This short sale last sold for $337,500 in 6/04. Two unit closed escrow one of which is Hale Moi 216. Purchased in 3/05 for $460K, and listed for $345K this unit ended up providing a tax write off by selling for $300K. Sandpiper 130 also closed for $300K while listed for $349K. It last sold for $238K in 6/03.

Ka'iulani 63, an agent owned unit purchased for $975K in 3/08 went under contract listed at $894K and will undoubtedly also be a tax write off.

Several units were withdrawn, a couple of which were fractional shares. Plantation 722 listed for $175K and Pu'u Po'a 107, listed for $297,500 both which were for 60 days of ownership, are now off the market. Plantation 812, purchased for $729K in 6/06 withdrew after 268 days as did Plantation 711 after a mere 1,092 days on the market. This unit sold for $455,402 in 9/05.

Two fractional share of Kamali'i 32 were temporarily withdrawn while listed at $230K and $245K. This unit sold for $509,400 in 10/03. Pu'u Po'a 114, listed for $1.425M and purchased for $1.4M in 3/05 was also temporarily taken off the market.

As for price changes, Sandpiper 134, which last sold for $485K in 7/05 reduced from $275K to $265K as a short sale. Ali'i Kai 1102, purchased for $100K in 11/87, reduced from $525K to $498K. Sealodge H1 went the other way, with an optimistic price increase of $100K, going from $399K to $499K. This cancels out a price reduction on 6/14 when the price went $100K the other way - from $499K to $399,999. This unit last sold for $560K in 8/05. Pali Ke Kua 109 finally posted a respectable reduction after approximately 2 months of reducing by $500 a day. Purchased in 12/03 for $621,400, this unit reduced from $799K to $719,900. The seller of Villas of Kamali'i 33 apparently changed their minds on their price change. Purchased in 7/04 for $649K, this unit shows as reducing from $879K to $719,900 and back up again to $879K on 8/24. And that's it for this past week. Now on to your Princeville homes update:

Copyright 8/31/2009 by Hawaii Information Service

NEW LISTINGS
227009 RS A 5 4-5-3-12-3 FS $1,988,800 4043 Aloalii Dr 8,972 sqft 3,588 3/3.5
227098 RS A 4 4-5-4-18-45 FS $697,000 4165 Kamalani Ln 10,235 sqft 2,405 3/3.5

CONTINGENT SALES
223366 RS C 136 4-5-4-15-1 FS $471,900 3995 Kamehameha Rd 10,244 sqft 2,117 3/2

EXPIRED
221534 RS X 161 4-5-4-13-48 FS $799,000 3677 Keoniana Rd 11,432 sqft 2,066 3/2.5

PRICE CHANGES
210722 RS A 488 4-5-4-18-7 FS $850,000- 4170 Mahina Pl 10,751 sqft 2,310 2/3.5

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

Enjoy the rest of your summer. I did, with a return hike in Kapaa along the Moalepe trail which connects to the Kailau trail ending at a great swimming hole by the arboretum. Great views along the way.

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!

New Listings:

1. 5796 Noni St., Wailua Homesteads. This is a 5 bedroom 2 bath home 2 story home. The home has nice curb appeal and is in an excellent location near Sleeping Giant (Nonou) mountain. The home is a good example of a home remodel gone bad. Check out a video walkthough by Hawaii Life's Susie Kunkel. Owned by American Home Mortgage Servicing Inc. MLS#226761

Price Changes:

1. Banyan Harbor G-80, Lihue. A 2 bedroom 2 bath fully furnished condo with partial ocean view. New price $224,0000. MLS#225936
2. 4740 Hokuloa Place, Eleele. 3 bedroom 2 bath home for $289,900. Garage has been turned into a family room. MLS#225781.
3. 5086 Napookala Circle, Princeville $727,800 MLS#224854. An amazing location on the Makai golf course in Princeville. Over 16,000 sq. ft. Some of my buyers think the home should be leveled! Ouch... Owned by Bank of America..

Buyers often request which bank owns the property. Dealing with each bank can be vastly different whether you are purchasing a Kauai REO or a Kauai Short Sale

You can search the entire state of Hawaii at the Hawaii Life website, and even set up your own account there.

Upcoming listings include some units at the Waipouli Beach Resort. This project, located across the street from the Kauai Village Shopping Center, was sold at the height of the market. It's an amazingly high quality construction, with the utmost in amenities. However, with super high maintenance fees, the market would not sustain the original developer prices. With the start of REOs in this complex, I anticipate the prices are going to adjust rapidly just as they did with other similar projects like the Aston Island on the Beach and the Hilton Kauai Beach Resort. If you want a deal at Waipouli Beach resort, keep your eye on the market. Here is a list of all the units for sale at the Waipouli Beach Resort today.

Night Shot from Waipouli Beach Resort in Kapaa.

Aloha,

It's been a relatively slow week which is reflected in the rather sparse condo update this week. There's been a few showings here and there but by and large, it seems like things have quieted down as we approach the end of summer. So much for a hot summer market! The reality is that the market is still soft, with numerous overpriced properites, several good buys and buyers sitting on the sidelines in both cases. Of course, there are some exceptions, but slow is (unfortunately) the operative word right now. Here is your update for this past week:

Copyright 8/23/2009 by Hawaii Information Service

NEW LISTINGS
200564 T A 6 4-5-4-5-16-2 FS $525,000 Alii Kai At Hanalei #1102 1,086 #1102 2/2
226784 T A 2 4-5-4-6-1-12 FS $839,000 Villas Of Kamalii #12 1,825 #12 3/3
226738 T A 6 4-5-4-5-16-42 FS $874,000 Alii Kai At Hanalei #5202 1,086 #5202 2/2

SALES
209062 T S 421 4-5-4-5-24-51 FS $695,000 Nihilani At Princeville Resort #17C 1,874 #17C 3/2.5
SOLD 8/18/2009 for $640,000 (CASH) DOM 421

UNDER CONTRACT
208900 T U 508 4-5-4-5-4-12 FS $497,000 Ka'eo Kai Ph I #2B 2,100 #2B 3/3

PRICE CHANGES
223270 T A 130 4-5-4-5-27-19 FS $275,000- Hale Honu #10A 1,085 #10A 3/2
224707 T A 69 4-5-4-12-2-16 FS $280,995- Hale Moi #116 1,033 #116 1/2

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 1102 is the first new listing this week, priced at $525K. This owner looks like one of the "originals" as the unit was purchased back in 11/87 for $100K. This is the first time on the market since that time. Villas of Kamai'i 12 is back on the market listed at $839K. This is quite a bit less from the previous list price of $900K when it was listed from 3/08 to 3/09. It was also listed from 3/09 to 7/09 for $875K. This unit last sold for $750K in 6/05. Ali'i Kai 5202 is the final new listing at $874K. This unit sold for $405K in 7/03 and was previously listed from 9/06 to 2/07 for $1.195M before it was withdrawn with 120 market days.

Nihilani 17C, purchased from the developer in 8/06 for $822,870 sold for $640K after 421 days on the market. This agent owned unit started out at $875K and slowly reduced, reaching the list price of $695K in 11/08. This is a surprisingly good price for this unit considering that 14A just went into escrow as a foreclosure listed at $489,900 and 22C is in escrow listed at $565K. All three of these units are the same Makani floor plan.

Ka'eo Kai 2B, listed for $497K finally went into escrow after 508 market days. Originally selling for $240K in 4/01, this unit started out at $650K slowly reducing over time.

As for price reductions: Hale Honu 10A purchased in 8/05 for $510, reduced this week from $325K to $275K as a short sale. Hale Moi 116, which last sold for $459K in 10/04 reduced from $297,500 to $280,995 and is also a short sale. Now on to your Princeville home update:

Copyright 8/23/2009 by Hawaii Information Service

NEW LISTINGS
226912 RS A 3 4-5-3-12-11 FS $1,595,000 3991 Aloalii Dr 7,827 sqft 3,389 3/2.5
226863 RS A 5 4-5-4-16-79 FS $769,500 4105 Kekaulike Ln 10,408 sqft 1,700 2/2
226809 RS A 6 4-5-4-20-33 FS $799,000 3975 Punahele Rd 9,979 sqft 1,960 3/2.5
226808 RS A 5 4-5-4-23-50 FS $849,000 3788 Moae Pl 6,974 sqft 1,937 3/2

BACK ON THE MARKET
222510 RS A 103 4-5-4-23-76 FS $729,000 3789 Mapuana Pl 6,398 sqft 1,535 3/2.5
220949 RS A 166 4-5-4-20-14 FS $1,345,000 5118 Iolani Pl 19,012 sqft 3,918 3/3.5

WITHDRAWN
222745 RS W 140 4-5-4-23-35 FS $599,000 3793 Moae Pl 6,386 sqft 1,651 3/2

TEMPORARILY WITHDRAWN
215902 RS T 713 4-5-4-15-6 FS $689,000 3881 Albert Rd 11,515 sqft 1,272 3/2

PRICE CHANGES
226912 RS A 3 4-5-3-12-11 FS $1,595,000- 3991 Aloalii Dr 7,827 sqft 3,389 3/2.5
224854 RS A 72 4-5-4-19-19 FS $727,800- 5086 Napo'okala Cir 15,326 sqft 2,206 3/3
200621 RS A 729 4-5-4-21-7 FS $790,000+ 3770 Cr Kaweonui Rd/alber 10,737 sqft 2,184 3/2.5
220531 RS A 197 4-5-4-13-44 FS $799,000- 3646 Kaweonui Rd #II 10,937 sqft 2,240 3/2
220949 RS A 166 4-5-4-20-14 FS $1,345,000- 5118 Iolani Pl 19,012 sqft 3,918 3/3.5
200380 RS A 719 4-5-4-13-7 FS $1,595,000- 3687 Kaweonui Rd 11,420 sqft 3,588 4/3.5
225837 RS A 9 4-5-4-7-6 FS $1,695,000- 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.

Lots of old/new listings, homes back on the market and price reductions but no homes went into escrow and none closed this past week. Buyer's continue to sit (on the fence) prices continued to soften, short sales and foreclosures increase, inventory grows.....

It's amazing - the difference in buyers now and back when it was a seller's market. Back "then" a buyer overlooked so many things in a property for the sake of getting it into escrow and making the sale. If things were wrong, unless they were major, most buyers just asked for a little concession or they took the property as is with plans for improvements down the road. Now, it seems that most buyers want something ready to go, something that has been remodeled or updated or at the very least, is very clean and livable. Everything is closely examined, weighed and a decision made as to if the price warrants the condition of the property. The contrast is amazing.

It's a different market, and a different type of buyer to be sure but make no mistake - it is a GREAT market. It's a great market with wonderful pricing, lots of variety, great rates and negotiable sellers. It's a time when a buyer can actually achieve the dream of home ownership. What could be better than that?

Before you start out on your journey to buy or sell, call or email for the facts on the property that interests you. There are some special properties out there, you just have to take the time to look. Check out Pu'u Poa 404 listed for only $1.095M! Last sale was unit 411 for $1.3M.

Aloha Elaine

I always ride Incognito with a full face helmet!

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,

We're seeing some movement in the market as those sellers who really want to sell are reducing to the point that buyers are seeing value. Also selling are the foreclosures and even some of the short sales, although it takes a patient buyer to stay in escrow until the end. Here is your update for this week-

Copyright 8/16/2009 by Hawaii Information Service

NEW LISTINGS
226519 T A 4 4-5-4-5-23-14 FS $495,000 Plantation At Princeville #412 1,153 #412 2/2
226466 T A 6 4-5-4-5-16-36 FS $940,000 Alii Kai At Hanalei #4304 1,086 #4304 2/2

CONTINGENT SALES
225806 T C 31 4-5-4-5-24-40 FS $489,900 Nihilani At Princeville Resort #14A 1,874 #14A 3/2.5
222926 T C 127 4-5-4-5-24-66 FS $565,000 Nihilani At Princeville Resort #22C 1,874 #22C 3/2.5

SALES
220199 T S 131 4-5-4-5-13-4 FS $289,900 Kamahana #4 1,145 #4 2/2
SOLD 8/12/2009 for $276,000 (CASH) DOM 131

210693 T S 375 4-5-4-5-24-28 FS $650,000 Nihilani At Princeville Resort #10A 1,874 #10A 3/2.5
SOLD 8/14/2009 for $645,000 (CNV) DOM 375

221737 T S 87 4-5-4-12-8-21 FS $795,000 Pali Ke Kua Ii #228 1,135 #228 2/2
SOLD 8/12/2009 for $725,000 (CASH) DOM 87

EXPIRED
214741 T X 364 4-5-4-5-23-66 FS $578,000 Plantation At Princeville #1712 1,153 #1712 2/2

WITHDRAWN
208801 T W 488 4-5-4-11-3-84 FS $329,000 Hanalei Bay Resort #N22 867 #N22 1/2
204020 T W 620 4-5-4-12-2-28 FS $380,000 Hale Moi #208 1,033 #208 2/2
223148 T W 107 4-5-4-5-18-71 FS $382,750 Puamana #20A 1,532 #20A 2/2
217123 T W 287 4-5-4-5-23-34 FS $579,000 Plantation At Princeville #912 1,153 #912 2/2

PRICE CHANGES
196998 T A 796 4-5-4-15-21-43 FS $318,000- Sandpiper Village I #206 1,173 #206 2/2.5
223270 T A 123 4-5-4-5-27-19 FS $325,000- Hale Honu #10A 1,085 #10A 3/2
226111 T A 19 4-5-4-15-21-54 FS $391,900- Sandpiper Village I #217 1,173 #217 2/2.5
214167 T A 382 4-5-4-12-8-24 LH $399,000- Pali Ke Kua Ii #130 1,100 #130 2/2
212901 T A 391 4-5-4-5-16-37 FS $649,000- Alii Kai At Hanalei #5101 1,086 #5101 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.

New this week is Plantation 412 listed for $495K. This unit last sold for $405K in 9/05 from the developer. Ali'i Kai 4303, purchased for $541,500 in 2/04 and listed for $940K is the only other new listing this week.

It comes as no surprise that the Nihilani Makani floorplan unit 14A went into escrow after only 25 days on the market. With a list price of $489,900 is was well below what other Makani units have sold for recently. This unit last sold for $761,450 in 3/06 and was foreclosed on by the bank in 6/09. Also going into escrow was a second Nihilani Makani floorplan unit 22C, which is a short sale. This beautifully upgraded and furnished unit was purchased from the developer in 11/06 for $848,956 and featured upgraded cabinets and bathrooms along with mountain, golf course and lake views. It was originally listed for $620K but reduced quickly during the 127 days on the market.

It's a sign of times improving when there are multiple sales to report starting with bank REO Kamahana 4 which was listed for $289,900 and sold for $276K this week. The seller purchased this unit for $499K in 9/05 but it was foreclosed on by the bank on 2/09. We have another Nihilani unit in the news, unit 10A which is one of the developer's Makani units which sold for $645K with a list price of $650K. Slowly but surely Brookfield is closing out their inventory and offering concessions along the way. They recently reduced one of their Hoku units, 3B, from $550K to $485K in an effort to attract a buyer. I personally like the reverse floor plan Hoku, which is the floorplan I purchased. At the time of construction, the downstairs family rooms could be converted to a third bedrooms which I felt was a much better use of the space. Although 3B is only a 2 bedroom at this time, I'm sure you could convert to a 3 bedroom without too much trouble. Also selling this week is Pali Ke Kua 228 which was purchased as a leasehold for $236,800 in 4/98 and converted to fee simple in 12/99 for $43,800. Listed for $795K it closed at $725K and is one of the rare transactions that yielded a capital gain!

Plantation 1712, listed for $578K expired after a year on the market without any price reductions. This unit last sold in 2/08 for $515K.

Hanalei Bay Resort N22 was withdrawn from the market after 488 days of exposure. It started out listed at $550K and reduced over time to $329K. This unit was purchased for $469,900 in 1/06. Hale Moi 208 which started out at $495K and reduced to $380K during the 620 days on the market was withdrawn. Unit 208 last sold for $215K in 11/01. Puamana 20A was only on the market for 107 days when it was withdrawn. Listed for $382,700 it last sold in 9/01 for $170K. Plantation 912 was withdrawn after 287 days with no price reductions while listed at $579K. This unit was purchased for $599K in 10/05 which left the seller with no room for negotiations.

Moving on to price reductions we have Sandpiper 206, which reduced from $325K to $318K. Initially listed at $525K, this unit has been on the market almost 800 days and was last purchased for $114,500 in 11/99. It faces onto Ka Haku Road which means it has golf course, mountain, lake and waterfalls views. I've shown this unit several times and used to own in Sandpiper. Considering how "rentable" these units are and given the current price, I'm surprised to see this one still on the market. Take a look at all the Sandpipers on the market and compare. Please note that there are two floor plans with the downstairs units being smaller than the upstairs:

Copyright 8/16/2009 by Hawaii Information Service
224335 T A 82 4-5-4-15-21-11 FS $275,000 Sandpiper Village I #111 1,042 #111 2/2
225703 T A 37 4-5-4-15-21-34 FS $275,000 Sandpiper Village I #134 1,042 #134 2/2
196998 T A 796 4-5-4-15-21-43 FS $318,000 Sandpiper Village I #206 1,173 #206 2/2.5
226309 T A 17 4-5-4-15-21-23 FS $325,000 Sandpiper Village I #123 1,042 #123 2/2
206436 T A 556 4-5-4-15-21-7 FS $329,000 Sandpiper Village I #107 1,042 #107 2/2
226111 T A 19 4-5-4-15-21-54 FS $391,900 Sandpiper Village I #217 1,173 #217 2/2.5
181966 T A 430 4-5-4-15-21-50 FS $399,999 Sandpiper Village I #213 1,173 #213 2/2.5

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

Hale Honu 10A, which last sold for $510K in 8/05, reduced from $399K to $325K. This short sale started out at $438K when it first came on the market. Sandpiper 217 which last sold for $310K in 2/04, also reduced, going from $399,900 to $391,900. Pali Ke Kua 130, an agent owned lease hold unit purchased in 3/06 for $429K, went from $449K to $399K. Ali'i Kai 5101, which offers a nice ocean view, wins the price reduction of the week award going from $749K to $649K. This unit started out at $849K and last sold in 5/04 for $595K. Judging from this last price reduction, I'd say this seller is more than eager to sell so bring your buyers. On to your Princeville Homes update:

Copyright 8/16/2009 by Hawaii Information Service

NEW LISTINGS
226493 RS A 5 4-5-4-19-16 FS $967,000 5112 Napo'okala Cir 15,320 sqft 2,196 3/2.5
221067 RS A 4 4-5-4-14-17 FS $1,375,000 3835 Albert Rd 10,579 sqft 2,743 3/3.5
225837 RS A 2 4-5-4-7-6 FS $1,895,000 3932 Namakeha Lp 12,575 sqft 2,848 4/3.5
226733 RS A 2 4-5-4-18-10 FS $3,650,000 4184 Mahina Pl 12,200 sqft 3,927 3/3.5

BACK ON THE MARKET
223822 RS A 104 4-5-4-13-6 FS $613,100 3695 Kaweonui Rd 11,121 sqft 2,492 4/2

WITHDRAWN
223228 RS W 121 4-5-4-20-32 FS $950,000 5145 Kapi'olani Loop #III 9,826 sqft 1,920 3/2

PRICE CHANGES
214429 RS A 373 4-5-4-16-41 FS $725,000- 4136 Kekaulike Ln 10,500 sqft 3,024 3/3
220531 RS A 190 4-5-4-13-44 FS $840,000- 3646 Kaweonui Rd #II 10,937 sqft 2,240 3/2
222122 RC A 157 4-5-4-4-46 FS $1,595,000- 4901 Hanalei Plant Rd 1.41 ac 1,802 4/2
225022 RC A 157 4-5-4-4-46 FS $2,695,000- 4901 Hanalei Plant Rd 2.49 ac 1,802 4/2

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

That's it for this week. There's quite a few good buys to be had which will not always be the case. Don't miss out on this buying opportunity. Just don't forget to call or email for the facts before you buy or sell.

Aloha Elaine

My horse "Bics" gets a small but steady hand from her friend Michelle.

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,

Here we are in the last month of Summer and real estate has held it's same sluggish pace. Most buyers feel that waiting can only benefit them, and to some degree, I have to agree. However, there are some properties that are so competatively priced that I'm really surprised they are not in escrow. I also agree that many of the properties on the market are still overpriced - and will remain that way until the sellers either decide they really want to sell and reduce or they take their property off the market until things improve. We Realtors can only wish for this to happen!

Here is your update for this week:

Copyright 8/9/2009 by Hawaii Information Service

NEW LISTINGS
226457 SH A 5 4-5-4-5-23-9 FS $135,000 Plantation At Princeville #311 1,153 #311 2/2
226523 T A 3 4-5-4-5-4-5 FS $239,000 Princeville Mauna Kai #5A 1,503 #5A 2/2
226280 T A 6 4-5-4-5-23-51 FS $625,000 Plantation At Princeville #1321 1,318 #1321 3/3
226233 T A 3 4-5-4-6-1-59 FS $795,000 Villas Of Kamalii #59 1,766 #59 3/3

CONTINGENT SALES
221842 T C 157 4-5-4-12-3-32 FS $899,000 Hanalei Bay Villas #32 1,248 #32 2/2

SALES
221018 T S 99 4-5-4-5-12-28 FS $615,000 Sealodge Ii #J1 754 #J-1 2/2
SOLD 8/6/2009 for $585,000 (CNV) DOM 99

UNDER CONTRACT
221360 T U 148 4-5-4-12-2-36 FS $345,000 Hale Moi #216 1,033 #216 2/2

EXPIRED
214648 T X 365 4-5-3-6-22-2 FS $2,195,000 Kaiulani Of Princeville #2 2,843 #2 3/3.5
214427 T X 365 4-5-4-5-17-23 FS $499,000 Alii Kai Ii Hanalei #10G 1,037 #10G 2/2

WITHDRAWN
223363 T W 109 4-5-4-5-4-5 FS $259,000 Kaeo Kai Ph I #5A 1,503 #5A 2/2
222557 T W 132 4-5-4-11-3-125 FS $850,000 Hanalei Bay Resort #R17 867 #3105-6 1/2

PRICE CHANGES
222344 SH A 143 4-5-4-5-23-23 FS $150,000- Plantation At Princeville #621 1,318 #621 3/3
226523 T A 3 4-5-4-5-4-5 FS $239,000- Princeville Mauna Kai #5A 1,503 #5A 2/2
204020 T A 619 4-5-4-12-2-28 FS $380,000- Hale Moi #208 1,033 #208 2/2
210598 T A 453 4-5-4-5-24-8 FS $485,000- Nihilani At Princeville Resort #3B 1,567 #3B 2/2.5
216340 T A 310 4-5-4-5-23-41 FS $499,000- Plantation At Princeville #1111 1,153 #1111 2/2
218864 T A 242 4-5-4-5-23-11 FS $649,000- Plantation At Princeville #321 1,318 #321 3/3
211272 T A 449 4-5-4-5-16-35 FS $795,000- Alii Kai At Hanalei #4303 1,086 #4303 2/2
207497 T A 531 4-5-4-11-3-49 FS $950,000- Hanalei Bay Resort #J11 1,324 #7101-2 Banana 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.

Plantation 311 is our first new listing this week and is offering a fractional share for $135K. This unit made some money for the original purchaser who bought it from the developer for $405K on 6/05 and immediately sold it to the current owner for $539K. Mauna Kai 5A, which last sold in 8/02 for $200K, is back as an REO listed at $239K. This unit was just withdrawn while listed as an REO which started at $319,900 in 4/09 and reduced down to $259K in 8/09 at which time it was withdrawn and relisted. Prior to this, it was listed for over 400 days in an effort to find a buyer but was unsuccessful. Also new this week in the Plantation complex is unit 1321, listed for $625K. This unit last sold for $523,993 in 11/05. Villas of Kamali'i 59, listed for $705K is the last entry and last sold for $586K in 4/04.

Hanalei Bay Villas 32, listed at $899K went into escrow after only 151 market days. It last sold for $950K in 11/05 and will undoubtedly be a tax write off.

Sealodge J1 closed this week at $585K after being listed for 99 days for $615K. This unit last sold for $325K in 9/02 bringing this seller welcome capital gains. Hale Moi 216 moved to under contract from contingent. Listed for $345K this unit sold for $460K in 3/05 and will also yield a tax write off.

One of the developer's Ka'iulani units, #2 expired after 365 days while listed for $2.195M. Ali'i Kai 10G expired while listed at $499K. During the 365 days it was listed, there was one price reduction from $599K to $499K in 5/09. This unit last sold for $129,500 in 6/89.

Mauna Kai 5A, also known as Ka'eo Kai, was withdrawn after 109 days listed as an REO at $259K. You saw this unit earlier as a new listing in this report. Hanalei Bay Resort 3105-6 was withdrawn listed at $850K after 132 days on the market. It came onto the market at $825K and increased to $850K which is where it stayed for the life of the listing. This unit was puchased for $895K in 5/05 leaving this seller with no room for negotiations.

On to our price changes. A fractional share of Plantation 621 reduced from $165K to $150K. This unit was purchased for $550K in 8/05. Mauna Kai 5A, which was relisted this week initially at $259K went quickly down to $239K. Hale Moi 208,which last sold for $215K in 11/01 reduced from $399K to $380K. This unit started at $485K. The developer's Nihilani 2 bedroom 2.5 bath Hoku unit 3B was reduced from $550K to $485K. At one point, this unit was listed for $603,300. Plantation 1111 went from $580K to $499K and last sold in 11/05 from the developer for $430K then was immediately flipped for $598,402 to the present owner. Plantation 321 reduced from $659K to $649K. This unit last sold for $435K from the developer in 7/05. Ali'i Kai 4303 initially increased in price from $830K to $840K on 8/4 after 445 days on the market without a sale. It then went from $840K to $795K on 8/06 and last sold for $490K in 12/03. Hanalei Bay Resort 7101-2, purchased for $504,145 in 9/03 reduced from $998K to $950K.

Now on to your Princeville Home update:

Copyright 8/9/2009 by Hawaii Information Service

NEW LISTINGS
226491 RS A 4 4-5-4-23-38 FS $525,000 3812 Iluna Pl 6,895 sqft 1,310 3/2

BACK ON THE MARKET
220820 RS A 173 4-5-4-13-40 FS $995,000 3618 Keoniana Rd 12,013 sqft 3,081 4/3.5

CONTINGENT SALES
223822 RS C 97 4-5-4-13-6 FS $613,100 3695 Kaweonui Rd 11,121 sqft 2,492 4/2

WITHDRAWN
224336 RS W 75 4-5-4-23-38 FS $525,000 3812 Iluna Pl 6,895 sqft 1,310 3/2

PRICE CHANGES
219545 RS A 219 4-5-4-22-26 FS $545,000- 4372 Emmalani Dr 11,390 sqft 1,294 3/2
225252 RS A 45 4-5-4-21-10 FS $889,000- 3836 Kaweonui Rd 10,018 sqft 2,016 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.

That's it for this week. Don't forget to call or email with your requests for the facts - before you buy or sell. Have a great week!

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!