Debra A. Jason, Kauai Realtor (Kauai homes for sale, Kapaa to Haena)

Kaua`i single-family home sales increased between October 2008 and October 2009 as well as between Sept. 2009 and Oct. 2009.

Yes, it's GOOD NEWS! According to statistics from the MLS (Multiple Listing Service), the number of sales of single-family homes - island wide - went from 23 in Oct. 2008 to 32 in Oct. 2009. This resulted in a 39.13% increase when comparing '08 and '09 results. Six sales took place in the Hanalei district, 11 in Kawaihau, 10 in Koloa, 3 in Lihue and 2 in the Waimea district. Sales volume of single-family homes jumped 57.66% between Oct. '08 and '09.

Median sales prices for single-family homes on Kauai went down, island wide, from $515,000 in Oct. 2008 to $446,500 in Oct. 2009. If you want to see the October stats, visit: http://kauaihawaii-realestate.com/stats/Oct09Stats.pdf

In September 2009, there were 16 single-family home sales - so in one month, the number of sales doubled.

Condominium sales on Kauai also improved by 77.78 percent between Oct. 2008 (9 sales) and Oct. 2009 (16 sales). In September 2009, there were 13 condo sales island wide. However, the median price of condominiums (island wide) decreased from $520,000 in Oct. 2008 to $395.000 in Oct. 2009 Perhaps the reduction in prices is what motivated buyers to make their purchases.

-- Source: Hawaii Information Services (www.hawaiiinformation.com/REsearch)

Maybe the piece of real estate you've been dreaming about on Kauai is simply waiting for you. When paradise is calling you, call me!

Have a great day.

Mahalo

Debra

(808) 826 1846, cell (808) 635 8031

www.kauaihawaii-realestate.com

Na Pali Properties, Inc. - Located in the heart of Hanalei.

After closing approx. one year ago for renovations, the Princeville Hotel re-opened its doors Sept. 26th as the new St. Regis Princeville Resort.

This afternoon (10/1/09) I had the distinct pleasure to attend the blessing/reception of the new St. Regis Princeville Resort. And, what an honor it was to be there.

The energy & excitement from those in attendance was contagious. After a challenging year (for all of us), the enthusiasm and optimism was overflowing from Kauai's mayor and Hawaii's governor to all who were in attendance. It felt like positive change was taking place and provided hope for more good things to come.

One of the most special moments of the day was the delightful performances of the Halau Ka Lei Mokihana Leina`ala. These young girls' were captivating - bringing tears to my eyes (and to some others in the crowd around). It was a pleasure to watch them as they delivered joy to everyone's hearts.

Watching sunset from the lanai at this establishment has always been a treat - one residents enjoy and one they love to share with their guests who visit. We welcome back that opportunity as well as welcoming a new era on the north shore. We look forward to better days ahead - here, across the Hawaiian Islands and on the mainland.

Mahalo

Debra

Debra A. Jason, RA, ABR
When paradise is calling you, call me!

(808) 826 1846 cell: (808) 635 8031

www.kauaihawaii-realestate.com

Na Pali Properties, Inc.

HAPPY TALK LOUNGE RE-OPENS:

Many north shore residents (and visitors) were happy to hear that the "Happy Talk Lounge" re-opened at the Hanalei Bay Resort. A favorite spot for watching incredible sunsets and hearing great music (from Hawaiian night to Jazz night), the lounge is open once again offering food, beverage and entertainment. Breakfast, lunch and dinner are available and they offer a "to go" menu as well. They are also featuring nightly entertainment including an Aloha Friday Happy Hour with Hawaiian music, Hanalei Hula on Wednesday nights, "Kauai-it Music" on Saturday, and Sunday Jazz night.

MITZI GAYNOR RETURNS TO KAUAI:

Mitzi Gaynor will be returning to Kauai for the first time since 1957-58. Star of "South Pacific," she is visiting the island to attend the 50th anniversary celebration of the movie (which was filmed on Kauai). Remember, "I'm gonna wash that man right out of my hair?" That was filmed at Lumahai. And, of course, who can forget "Bali Hai is calling..." (our Mount Makana at the end of the road)?

Mitzi will be the leading attraction at two special events during her stay. One will be at the Grand Opening reception at the long-awaited St. Regis Princeville Resort. The other event will be presented by the Kauai Visitors Bureau. Entitled "An Afternoon with Mitzi Gaynor," it will be held at the Kauai Marriott Resort & Beach Club. Open to the public, tickets are $20 and proceeds benefit the Kauai Museum. For more information, call (808) 245 3971.

PRINCEVLLE's MAKAI GOLF COURSE RENOVATION:

An August update from the Head Golf Professional indicated that the opening of the course for play will likely be later in the year. The work on the Ocean Course was scheduled for completion last month with the grassing of #5. Then, the undertaking of grassing on #8 Lakes as #1, 2, and 9 have been completed and are in early grow-in stage. Irrigation, trenching, installation & "buttoning up" have been completed on the Lakes holes 4-7. As they move closer to the completion of the project, the courses will make a slow but smooth transition to maintenance & conditioning.

If you're already on island, stop by the Happy Talk Lounge for a relaxing sunset. If you're planning a trip, how 'bout one in October to see Mitzi Gaynor?

Hope to see you here soon.

Have a great day.

Mahalo

Debra A. Jason, RA, ABR
When paradise is calling you, call me!

(808) 826 1846, cell (808) 635 8031

www.kauaiihawaii-realestate.com

One of my first posts on Active Rain – about a year ago - was about “Shedding Light on a Dim Real Estate Market.” It was an attempt to get out there and provide some optimism in a market where the media continually promoted pessimism. Today, I’m happy to say things are looking up. Perhaps you’ve read the stories I’ve read, but in case you haven’t I’m going to provide some more optimistic news - not based on my opinion, but on articles and other posts I’ve come across.

Here are some of the latest headlines:

From “REALTOR Magazine Online: ”Buyer Hesitation Is Dissolving” by Robert Freeman, September 2009 “After years of concern over the direction of home prices, buyers are returning to the market. After 4 years of declines, home sales on a national basis finally appear to be turning around. Closed sales, which have risen three straight months, and pending contracts, up for five straight months, are at levels above normal spring & summer increases. . . . Buyers are no longer hesitant about home purchases on the fear of further price declines. And that sets the stage for a steady release of pent-up housing demand.” Source: http://www.realtor.org/rmonews_and_commentary/Economy/0909_economy_buyerhesitation

From “The Wall Street Journal:” Economists Reach: “Breadth of Gains Was Impressive” 8/25/09 “Not only are housing prices stabilizing, they are starting to grow. The three most widely used yardsticks for measuring housing prices (The National Association of REALTOR’S median price, the Federal Housing Finance Agency (FHFA) price indexes and the Case-Shiller price indexes) are telling a similar story.” – Patrick Newport, economist at HIS Global Insight Source: http://blogs.wsj.com/economics/2009/08/25/economists-react-breadth-of-gains-was-impressive/

From RISMedia: “Positive Signs: Home Prices on an Upswing in Second Quarter 2009” 8/26/09 “For the second month in a row, we’re seeing some positive signs,” says David M. Blitzer, Chairman of the Index Committee at Standard & Poor’s. “….there are hints of an upward turn from a bottom . . . “ Source: http://rismedia.com/2009-08-25/positive-signs-home-prices-on-an-upswing-in-second-quarter-2009/

From MSNBC.com/The Associated Press: “Home prices post first quarterly rise in 3 years” 8/25/09 “The Standard & Poor’s/Case-Shiller’s U.S. National Home Price Index released Tuesday rose nearly 3 percent from the first quarter . . . The monthly index of 20 major cities increased 1.4 percent from May to June to 142, the 2nd straight month the index registered a gain. Source: http://www.msnbc.msn.com/id/32550874/ns/business-real_estate/

From “the Wall Street Journal: ”A Toe in the Water" by Dave Kansas “Real estate is starting to look cheap enough to buy. Or at least think about buying. . . . Those fortunate people who have weathered the storm are emerging from their fetal crouch and starting to think more about taking some investment risks. . . . they seem to be heading for real estate (vs. stock market).” Source: http://online.wsj.com/article/SB10001424052970204271104574290650401076352.html

Thank you to those who continue to stay on top of the statistics and report good news. As always, I’ll do my best to seek out positive comments to report and pass onto my clients (both buyers & sellers). Here’s to shining a bright light on what has been a dim real estate market.

If you have positive information you'd like to share, feel free to respond to this post. I look forward to hearing from you.

Mahalo

Debra A. Jason, RA, ABR
Na Pali Properties, Inc.

When paradise is calling you, call me!

(808) 826 1846 cell: (808) 635 8031

www.kauaihawaii-realestate.com

For those seeking real estate on Kauai and those particularly interested in REO (real estate owned by the bank) properties for sale, here's a sampling of what appears on Kauai's MLS (multiple listing service) today:

Condominiums

MLS #225425: 1 bed/1 bath Kahala at Poipu Kai I. Asking price $346,900 Days on market = 30

MLS #223363: 2 bed/2 bath Kaeo Kai Ph I (Princeville). Asking price $259,000 (lowered since last ActiveRain posting) Days on market = 103

MLS #225936: 2 bed/2 bath Banyan Harbor (Lihue). Asking price $250,000 Days on market = 13

MLS #225806: 3 bed/2.5 bath Nihilani at Princeville. Asking price $489,900 Days on market =14

Single-family homes

MLS #226240: 5 bed/4 bath (2221 SF of living space on approx. 10,610 SF of land) in Kapaa (4619 Lehua St.). Three plantation cottages for commercial or residential use. Asking price $644,900 Days on market = 1

MLS #226200: 5 bed/3 bath (3395 SF of living space on approx. 1.8 acres of land). Main residence has 4 bed/3 baths. Included is a 1 bed/1 bath cottage. Asking price $599,900 Days on market = 3

MLS #226132: 3 bed/2 bath (1029 SF of living space on approx. 5424 SF of land) in Lihue (4262 Oama Pl.) Asking price $354,000 Days on market = 6

MLS #226104: 3 bed/2 bath (1048 SF of living space on approx. 6000 SF of land) in Kapaa (5358 Kula Mau`u St). Asking price $316,900 Days on market = 7

MLS #225954: 3 bed/1.5 bath (912 SF of living space on approx. 7700 SF of land) in Koloa (3868 Olona St.) Asking price $349,000 Days on market = 13

MLS #225851: 3 bed/2.5 bath (1396 SF of living space on approx. 8080 SF of land) in Wailua Homesteads (229 Koili Ln). Former owner was remodeling, but work was not completed. Asking price $297,500 Days on market = 15

MLS #225781: 3 bed/2 bath (1584 SF of living space on approx. 6715 SF of land) in Eleele (4740 Hokuloa Place) Asking price $309,900 Days on market = 16

MLS #225407: 5 bed/4 bath (3298 SF of living space on approx. 9627 SF of land) in Omao (4345 Naulu Place). Asking price $211,613. Buyer beware, no access without permission (home has rot, mold, termite damage, bees, broken windows & roof leaks). Days on market = 31

MLS #225197: 3 bed/3 bath (2282 SF of living area on approx. 6000 SF of land) in Koloa (1672 Kelaukia St.) Asking price reduced to $1,034,550 Days on market = 38

MLS #223496: 4 bed/2.5 bath (2506 SF of living area on approx. 19,402 SF of land) in Lihue (2891-C Pua Nani St). Asking price reduced to $449,000 Days on market = 98

MLS #223366: 3 bed/2 bath (2117 SF of living area on approx. 10,244 SF of land) in Princeville (3995 Kamehameha Rd). Asking price reduced to $489,900 Days on market = 104

MLS #224854: 3 bed/3 bath (2206 SF of living area on approx. 15326 SF of land) in Princeville (5086 Napookala Circle). Asking price reduced to $799,800 Days on market = 48

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

Keep in mind, when buying an REO property, the Seller (i.e. bank) wants you to be pre-qualified and in some cases also provide proof of cash funds (i.e. for your down payment). In all cases, whether a single-family home or condominium, the property is sold "as is."

If anything here interests you, let me know. Or when paradise is calling you, call me! Mahalo!

Debra

Debra A. Jason, RA, ABR

Na Pali Properties, Inc.

(808) 826 1846 cell: (808) 635 8031

http://www.kauaihawaii-realestate.com