Elaine Schaefer (R, BIC, CRS, GRI, ABR)

Aloha,

This past week brought with it our first major winter storm. When all was said and done, both the Hanalei Bridge and the road between Princeville and Kilauea by Kalihiwai were closed for a period of time on Saturday. If you live in Princeville, Hanalei or Kilauea, you quickly learn that it's best to stay close to home when these types of storms appear, for fear of being "on the wrong side of the fence" when a road or bridge is closed. I've heard of visitors and locals alike being stuck on the wrong side of the tracks, unable to make a flight or get home.....It's pretty clear that Mother Nature rules the roost here.

Along with all the rain, we had a pretty quiet week in terms of real estate activity, as evidenced by this very brief update:

Copyright 11/15/2009 by Hawaii Information Service

NEW LISTINGS
229384 T A 2 4-5-3-11-1-19 FS $850,000 Villas On The Prince #19 1,732 #19 3/3
228998 T A 6 4-5-3-6-22-27 FS $1,695,000 Kaiulani Of Princeville #27 2,864 #27 3/3.5
229171 T A 3 4-5-3-6-22-48 FS $1,749,000 Kaiulani Of Princeville #48 2,476 #48 3/3
229379 T A 2 4-5-4-5-24-80 FS $449,000 Nihilani At Princeville Resort #27B 1,567 #27B 2/2.5
229381 T A 2 4-5-4-5-24-94 FS $649,000 Nihilani At Princeville Resort #32A 1,874 #32A 3/2.5
228792 T A 6 4-5-4-5-24-72 FS $798,000 Nihilani At Princeville Resort #24C 1,972 #24C 3/3

WITHDRAWN
207615 T W 619 4-5-3-6-22-9 FS $2,100,000 Kaiulani Of Princeville #9 2,864 #9 3/3.5

PRICE CHANGES
225703 T A 128 4-5-4-15-21-34 FS $209,000- Sandpiper Village I #134 1,042 #134 2/2
229139 T A 9 4-5-4-5-17-15 FS $349,000- Alii Kai Ii Hanalei #9G 1,037 #9G 2/2
218778 T A 345 4-5-4-5-18-60 FS $367,500- Puamana #17A 1,312 #17A 2/2
228178 T A 39 4-5-4-5-24-41 FS $400,000- Nihilani At Princeville Resort #14B 1,567 #14B 2/2.5
229003 T A 10 4-5-4-5-24-8 FS $425,000- Nihilani At Princeville Resort #3B 1,567 #3B 2/2.5
225686 T A 129 4-5-4-5-16-57 FS $499,000- Alii Kai At Hanalei #7202 886 #7202 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.

Villas on the Prince 19 is new on the market this week listed for $850K. This agent owned unit last sold for $520K in 6/02. Ka'iulani 27, purchased for $1,652,100 in 8/07 is back on the market listed at $1.695K. This unit was previously listed from 10/07 to 10/08 for $1.965M. It was reduced to $1.85M by the time it was withdrawn. It was listed a second time from 11/08 to 11/09 starting at $1.850M and ending at $1.795M when it was again withdrawn. Ka'iulani 48, purchased for $1,502,610 in 9/07 is also back on the market listed at $1.749M. This unit was listed from 1/08 to 8/08 starting at $1.9M and reducing to $1.799M, and again from 8/08 to 6/09 for $1.799M.

There are several Nihilani units coming onto the market this week, starting with 27B. Purchased in 10/06 for $682,180 and listed this time for $449K, this agent owned unit was listed before from 10/06 to 4/07 for $779K and reduced to $749,900, from 3/08 to 6/08 for $699K and once again from 7/08 to 9/08 during which time it went from $685K to $539,900 before being withdrawn. Nihilani 32A, an agent owned unit purchased for $985K in 3/06 was previously listed from 7/08 to 9/08 at a high price of $999K reducing to $739,900 when it was withdrawn. Nihilani 24C makes it's debut as a new listing priced at $798K. This unit last sold in 12/06 for $876,145. No properties went into escrow, sold, expired, or were temporarily withdrawn this week.

Ka'iulani 9, listed for $2.1M and purchased for $2,008,270 from the developer in 2/09 was withdrawn after being listed from 3/08 to 11/09 with no price reductions and 619 days on the market.

As for price changes - Sandpiper 134, listed for $225K reduced to $209K. This unit sold for $485K in 7/05 and is a short sale. Ali'i Kai 9G, purchased for $151K in 12/09 reduced from $369K to $349K. Puamana 17A purchased in 3/04 for $320K went from $425K to $367,500. Nihilani 14B, purchased from the developer in 3/06 for $594,102 had a major price reduction, going from $475K to $400K as a short sale. Nihilani 3B, a developer's unit, reduced in a similar fashion going from $485K to $425K. Our final reduction is Ali'i Kai 7202, which also had a nice reduction going from $575K to $499K. This agent owned unit sold for $115K in 1/88. Now on to your Princeville home update:

Copyright 11/15/2009 by Hawaii Information Service

NEW LISTINGS
229218 RS A 3 4-5-4-24-11 FS $685,000 4240 Waileia Pl 12,336 sqft 2,074 3/2
229262 RS A 4 4-5-4-14-26 FS $1,625,000 3925 Kamehameha Rd 20,093 sqft 3,925 4/3.5

WITHDRAWN
225087 RS W 144 4-5-4-14-26 FS $1,625,000 3925 Kamehameha Rd 20,093 sqft 3,925 4/3.5
220623 RS W 284 4-5-4-13-74 FS $2,495,000 3651 Albert Rd 10,838 sqft 3,218 3/3.5

PRICE CHANGES
218770 RS A 342 4-5-4-16-77 FS $699,000- 4117 Kekaulike Ln 10,650 sqft 3,100 3/2.5
227771 RS A 58 4-5-4-13-72 FS $1,095,000- 3661 Albert Rd 10,466 sqft 2,655 3/3.5
186555 RS A 1,058 4-5-4-4-38 FS $7,999,000- 4971 Hanalei Plantation 1.25 ac 4,630 4/4.75

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

As you can see from the update, it was a relatively slow week in terms of any real activity, however, there were some very attractive reductions this past week which will hopefully spur some buyers to get off the fence and into the game. Some think the market has reached bottom while others feel there is still a little more room left. In either case, I feel that if you can find something you like, get it now while you can. Rates are at historic lows and despite the bloated inventory, when it comes right down to it, I can pretty much guarentee that for most buyers, there will only be one or two properties that will interest them enough to actually want to make a purchase. If you are a buyer, don't let something you like slip through your fingers. And sellers, if you are not in line with the market, take a look at the reductions this week and see if you need to make a similar reduction to attract a buyer to your property.

Regardess of if you are buying or selling, call or email me for the facts on any property on the Island. That's why I'm here, to help you!

Aloha Elaine

View of the flooded taro field and Hanalei River after the rain this weekend

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,

For a change, this past month there was an increase in the number of sales Islandwide, from 46 last October to 50 this October which is a 8.7% increase. Year to date is still down with 519 units sold this time last year compared to 396 sold as of Oct 2009 for a 24% decrease. Of the 50 Oct sales, 32 were residential, 2 were land sales and 16 condos were sold. Of the homes that sold, 2 were in the Waimea Zone, 10 in Koloa, 3 in Lihue, 11 were in the Kawaihau zone and 6 were sold in Hanalei. Keep in mind these are Zones as defined by the tax key number and not the specific town. In Oct 2007 57 properties changed hands, while 92 sales occured in Oct 06. As usual, the high number is in Oct 05 when there were 162 transactions compared to 137 in Oct 2004. The high year for year to date was once again 05 with 1543 sales. If you are a seller in today's market it may help to stop for just a moment and look at that number as it compares to today's market and to recognize that the 396 sales as of Oct 09 represents roughly a 74% decrease in activity. Perhaps it will soften the frustration and impatience that is a common occurance when trying to sell now.

Not only were sales up this month but sales volume was up 24% from $23M in Oct 08 to $29M for Oct 09. Oct 04 had sales volume of $79M, Oct 05 was at $97M, Oct 06 - $70M and Oct 07 saw $50M in sales. Year to date sales volume for 08 was $416M with year to date Oct 09 sales of $240M, a 42% decline. Of the $29M spent this past month, $20M went towards residential sales, $649K for land and $8M was spent on condos. Keep in mind that I round number off as I do this report. Click here to see the full report please on my website.

The median sales price for residential is down substantially comparing Oct 08 and Oct 09, which was $515K in 08 and $446,500 for Oct 09. Here are the residential sales stats for Oct 08 that shows the median price:

Copyright 11/9/2009 by Hawaii Information Service 09

MLS Number Location Sold Date Sold Price
210328 4982 Ohu Rd 10/1/2008 $115,000
203033 4459 Kawailoa St 10/31/2008 $320,000
205971 3140-1 Poipu Rd 10/3/2008 $338,000
205792 3530 Maka Ala St 10/23/2008 $340,000
211517 4718 Melemele Rd 10/31/2008 $350,000
213299 5261 Laipo Road 10/10/2008 $350,000
207660 302-A Makani Rd 10/28/2008 $373,000
209216 Port Allen Residential Subdiv Lot #: 10/31/2008 $380,000
213066 Port Allen Residential Subdiv Lot #: 10/1/2008 $404,000
213245 2843 Mokoi St 10/22/2008 $475,000
210864 5144 Kaunaloa St 10/1/2008 $500,000
210715 6455 Puupilo Rd #2 10/24/2008 $515,000
197225 210 Nalomeli Pl 10/31/2008 $525,000
198693 6077 Kolopua St 10/1/2008 $525,000
213843 2177 Puu Rd 10/15/2008 $641,000
187788 3550 Horita Rd 10/30/2008 $643,000
211912 5061 Aliomanu Road, Apt B 10/15/2008 $680,000
208005 3646 Keoniana Rd 10/8/2008 $760,000
212592 4369 Kai Ikena Dr 10/1/2008 $804,625
209424 1228 Nohea St 10/17/2008 $830,000
203972 2474 Apapane St 10/10/2008 $850,000
212757 4844-A Wailapa Rd #A 10/30/2008 $1,050,000
207294 5164-K Kahiliholo Rd. #1 10/24/2008 $1,147,500

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

Here are the sales for Oct 09 showing the median of $446,500:

Copyright 11/9/2009 by Hawaii Information Service

MLS Data
MLS Number Location Sold Date Sold Price
214192 4574 Puuwai Rd #B 10/7/2009 $299,000
222276 295 Molo St 10/19/2009 $309,000
228461 5679 Ani St 10/13/2009 $310,000
226512 5625 Kula Mau'u St 10/20/2009 $361,000
222904 2460 Kolo Rd 10/15/2009 $366,200
226020 6381 Puupilo Rd 10/20/2009 $366,600
218815 233 Keokeo Rd 10/30/2009 $370,000
220502 4437 Iona Rd #2 10/20/2009 $387,500
222896 4119 Aheahe Pl 10/2/2009 $396,000
226761 5796 Noni St 10/26/2009 $399,900
226605 2317 Lapuuna Pl 10/15/2009 $400,000
205541 4230 Papalina Rd #B 10/12/2009 $407,000
222319 189 Lanialii Pl #1 10/16/2009 $410,000
218894 3936 Waha Rd #2 10/2/2009 $425,000
224620 6420 Kawaihau Rd #2 10/1/2009 $430,000
223496 2891-B Pua Nani St #2 10/20/2009 $440,000
223366 3995 Kamehameha Rd 10/9/2009 $453,000
224497 2684 Onu Pl 10/22/2009 $460,000
210846 3590 Kaloke Rd 10/19/2009 $500,000
223822 3695 Kaweonui Rd 10/26/2009 $575,000
209531 05-7242-A Kuhio Hwy 10/12/2009 $590,000
215681 Ahakea St 10/13/2009 $600,000
224685 4437 Makoi Pl 10/21/2009 $610,000
222919 4959 Emmalani Dr 10/1/2009 $642,000
228934 4467 Ikena Pl 10/30/2009 $675,000
228217 Kalaheo Homesteads Lot #: 10/5/2009 $695,000
194104 4473 Keaka Rd 10/19/2009 $840,000
217604 3576-A Moloaa Rd #2 10/27/2009 $1,125,000
225870 4351 Kahili Makai St #4 10/19/2009 $1,176,000
228641 1605 Makanui Rd #A 10/21/2009 $1,450,000
218359 8948 Kaumualii Hwy #D 10/30/2009 $1,500,000
222175 4786 Aliomanu Rd 10/9/2009 $2,395,000

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

Years past saw a residential median sales price of $650K in Oct 07, $675K in Oct 06, $675K in Oct 05 and $567,500 in Oct 04. Year to date residential median sales price for Oct 04 was $485K, 05 was $640K, 06 was $679,500, 07 was $660K, 2008 was $625K and year to date Oct 09 has a residential median sales price of $470K.

Statistically, it's still a great time to buy with both favorable pricing and financing available, not to mention the home buyers credit which is now available for both first time buyers and existing home owners. There's also plenty of inventory which makes for a great buyer's market all around.

Aloha Elaine

Bora Bora Sunset

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,

It was a relatively quiet week with periods of pouring rain. Activity remains relatively slow as you'll see from this weeks update. The renovation of the timeshare units at the Cliffs is almost complete which means we'll have guests returning to buildings 7, 8 and 9 which will eliminate the favorable parking spots I've become accustomed to during the renovation. For those of you unfamiliar with the Cliffs, in addition to whole ownership, there are two timeshare associations that are also here. I have a second floor unit and am happy to have timeshare above and below me. The reasons I like timeshare neighbors are 1) They seldom have big family fights as they are here on vacation; 2) They aren't dragging a bunch of other people into the unit because they don't know anyone else and 3) They don't stockpile food (and attract bugs) because as I said before, they are only here for a week.

I also like living with timeshare because the grounds and common area building are always in great condition, after all, guests are only here for a week so everything has to look good pretty much all the time. However, for a "whole unit" buyer, lending is tricky because the Cliffs is a condhotel, has leasehold and fee simple units the majority of which are timeshare. On to your update:

Copyright 11/8/2009 by Hawaii Information Service

NEW LISTINGS
229139 T A 2 4-5-4-5-17-15 FS $369,000 Alii Kai Ii Hanalei #9G 1,037 #9G 2/2
228973 T A 6 4-5-4-12-8-24 LH $449,000 Pali Ke Kua Ii #130 1,100 #130 2/2
229003 T A 3 4-5-4-5-24-8 FS $485,000 Nihilani At Princeville Resort #3B 1,567 #3B 2/2.5
229125 T A 2 4-5-4-5-16-33 FS $785,000 Alii Kai At Hanalei #4301 1,086 #4301 2/2
227902 T A 3 4-5-4-6-1-27 FS $845,000 Villas Of Kamalii #27 1,815 #27 3/3
228874 T A 6 4-5-4-5-16-24 FS $940,000 Alii Kai At Hanalei #3204 1,085 #3204 2/2

CONTINGENT SALES
204804 T C 514 4-5-4-5-39-33 FS $230,000 Cliffs At Princeville #2103 917 #2103 1/2

SALES
211781 T S 408 4-5-4-5-3-24 FS $324,900 Princeville Paniolo #211 1,058 #211 1/2
SOLD 11/4/2009 for $300,000 (CNV) DOM 408

219219 T S 327 4-5-4-5-30-20 FS $325,000 Princeville Mauna Kai #D302 1,488 ##25 3/2
SOLD 11/3/2009 for $350,000 (CNV) DOM 327

EXPIRED
225541 T X 122 4-5-4-12-11-46 FS $1,095,000 Puu Poa #404 1,352 #404 2/2

WITHDRAWN
217907 T W 342 4-5-3-6-22-27 FS $1,795,000 Kaiulani Of Princeville #27 2,864 #27 3/3.5

TEMPORARILY WITHDRAWN
226309 T T 96 4-5-4-15-21-23 FS $325,000 Sandpiper Village I #123 1,042 #123 2/2

PRICE CHANGES
222635 T A 184 4-5-4-5-12-19 FS $349,999- Sealodge Ii #H1 556 #H1 1/1

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

Of the 6 new listings only 2 are actually new to the market. Ali'i Kai 9G, listed at a new lower price of $369K was purchased for $151K in 12/99, and was listed from 7/05 to 1/06 for $615K and again from 2/06 to 9/09 starting at $629K and reducing to $380K. The agent owned leasehold Pali Ke Kua 130 was purchased for $429K in 3/06 and is back this time listed at $449K. This unit was previously listed from 8/06 to 5/07 starting at $699K and reducing to $649K, from 6/07 to 6/08 during which time it went from $649K to $575K and once again from 7/08 to 9/09 starting at $575K. It reduced to $399K at one point before going back up to $449K which is where it expired.

Nihilani is now allowing some of the resale agents to list their developer units in the hope that it will create more interest and greater exposure. That's the case with Nihilani 3B, currently listed for $485K with an agent who is not with Brookfield. This unit was previously listed by the Brookfield agents from 7/07 to 1/08 starting at $700,500 and reducing to $699K and was also listed from 4/08 to 10/09 with a high list price of $686,200 ending at $485K. Ali'i Kai 4301 last sold for an all time high of $1,157,500 on 6/06 and is now listed for $785K. It was previously listed from 9/08 to 9/09 starting at $919K and reducing to $895K. It is not showing as a short sale. Villas of Kamali'i 27 is back on the market as a new listing at the old price of $845K. It was listed at this price from 10/08 to 10/09. Ali'i Kai 3204 is the only other "new" listing at $940K. This unit last sold for $365K on 8/02.

One of the "lender approved" short sales went into escrow this week: Cliffs 2103 listed for $230K after 513 days on the market. Some of you have asked why it takes so long for a unit to go into escrow when the price seems so reasonable. This unit was first listed from 4/05 to 11/05 starting at $560K and dropping to $539K before being withdrawn. It came back on the market in 12/05 listed for $539K and reduced to $529K before expiring in 8/06. It was listed again from 2/07 to 3/07 for a low of $475K and was withdrawn while listed at $485K. This most recent listing started out at $495K in 12/07 and kept reducing until it reached the price of $230K on 7/09, gaining short sale approval from the bank at that price on 9/09. So although it may appear as if it's been sitting as an approved short sale all this time, that is not the case.

Paniolo 211, listed for $324,900 closed at $300K after 408 days on the market. Purchased in 12/89 for $125K this unit started out at $427K when it first came on the market. Mauna Kai 25, purchased in 8/07 for $585K and listed as a short sale for $325K closed at $350K. This unit started out at $524,500 327 days ago.

My Pu'u Po'a 404 listing expired this week priced at a very favorable $1.095M. This unit last sold for $325K in 7/91. Ka'iulani 27, purchased for $1,652,100 in 8/07 was withdrawn from the market listed at $1.795M after 342 market days. Sandpiper 123 listed for $325K and purchased for $359K in 8/04 was temporarily withdrawn from the market. Surprisingly, we are setting a new record this week in price changes in that there is only, but it's a very good one on Sealodge H1 which went from $499K to $349,999. Purchased in 8/05 for $560K this unit does not appear to be a short sale.

On to your Princeville home update:

Copyright 11/8/2009 by Hawaii Information Service

NEW LISTINGS
228923 RS A 3 4-5-4-9-42 FS $1,200,000 4184 Kekuanaoa Ln 13,913 sqft 2,940 3/3.5

BACK ON THE MARKET
209942 RS A 551 4-5-4-8-9 FS $999,000 3887 Punahele Rd 11,139 sqft 3,246 4/3

EXPIRED
224783 RS X 150 4-5-4-13-37 FS $1,875,000 3584 Kaweonui Rd 14,685 sqft 3,500 4/3.5

WITHDRAWN
208122 RS W 618 4-5-4-7-19 FS $1,135,000 3928 Punahele Rd 9,999 sqft 1,694 3/2

PRICE CHANGES
226182 RS A 103 4-5-4-16-7 FS $795,000- 5029 Emmalani Dr 10,500 sqft 3,304 4/3
227098 RS A 73 4-5-4-18-45 FS $820,000+ 4165 Kamalani Ln 10,235 sqft 2,405 3/3.5
224404 RS A 165 4-5-4-14-4 FS $998,000- 3792 Keli'i Pl 10,481 sqft 2,523 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.

That's it for this week. Please do not hesitate to call or email with any questions. I spend a good part of my life on the computer trying to keep buyers and sellers up to date - in other words, that's why I'm here so contact me and I'll fill you in on the history be it a condo, house or land anywhere on the Island. Have a great week! And for those of you who asked, no I am not changing my last name now that I am married.

Aloha Elaine

Sting ray seen from our boat in Bora Bora. Can you believe how clear the water is?

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,

It seems like a long, long time since we were on Bora Bora but in truth, it's only been one very busy week. Tuesday found me driving over to PMRF in Kekaha to the "DV" (distinguished visitors) tent to watch the launch of a medium range ballistic missile target from the base and subsequent intercept by the Japanese ship JS MYOKO, which was located Northwest of Kauai.

It was great fun to see the lift off and watch the missile as it headed skyward, leaving behind a contrail which created a strange grey shadow across the sky as the missile headed North across the setting sun. We even got to see the launch of the interceptor from the Ship on a monitor in an adjacent building. Believe me when I say you don't want to blink or sneeze when the interceptor launches otherwise you'll miss it. It really does happen that fast. For security reasons we were not permitted to witness the actual interception but we did have audio tracking and were able to receive confirmation that the mission ended successfully.

In the past, I've watched a couple of other launches from Kekaha beach but this was the first time I was able to be on base to witness the entire event. You can often see launches from other vantage points on the Island if you have a view to the West. A friend of mine was in Lihue Tuesday and she saw the contrail and figured PMRF must have launched something.

It's been a very hot, muggy week, brought on my some "weather fronts" which all but killed the trades. Fortunately, we have them back today as it is once again, a bright sunny Saturday where the trades are greatly appreciated. On to your update:

Copyright 10/31/2009 by Hawaii Information Service

NEW LISTINGS
228342 T A 6 4-5-3-6-22-50 FS $1,749,000 Kaiulani Of Princeville #50 2,443 #50 3/3.5
228849 T A 3 4-5-4-5-23-25 FS $549,000 Plantation At Princeville #711 1,153 #711 2/2

CONTINGENT SALES
224237 T C 474 4-5-4-5-13-28 FS $250,000 Kamahana #28 1,145 #28 2/2
226998 T C 65 4-5-4-12-2-39 FS $349,000 Hale Moi #219 1,033 #219 1/2

SALES
221307 T S 206 4-5-4-5-18-86 FS $335,000 Puamana #24A 1,312 #24A 2/2
SOLD 10/28/2009 for $300,000 (CNV) DOM 206

EXPIRED
223649 T X 178 4-5-4-5-13-13 FS $449,000 Kamahana #13 2,073 #13 3/2
223620 T X 177 4-5-4-5-18-47 FS $599,000 Puamana #13C 1,532 #13C 2/2
217301 T X 364 4-5-4-11-3-90 FS $695,000 Hanalei Bay Resort #N34 867 #1537-8 1/2

WITHDRAWN
210598 T W 530 4-5-4-5-24-8 FS $485,000 Nihilani At Princeville Resort #3B 1,567 #3B 2/2.5
210691 T W 598 4-5-4-5-24-44 FS $648,000 Nihilani At Princeville Resort #15B 1,874 #15B 3/2.5

PRICE CHANGES
224638 T A 143 4-5-3-6-22-76 FS $975,000- Kaiulani Of Princeville #76 1,738 #76 2/2.5
228387 T A 19 4-5-4-5-18-30 FS $377,777- Puamana #8C 1,532 #8C 2/2
210699 T A 541 4-5-4-5-24-31 FS $530,000- Nihilani At Princeville Resort #11A 1,406 #11A 2/2
218823 T A 330 4-5-4-12-5-8 LH $619,000- Pali Ke Kua Incr I, ii, iii #108A 717 #108 1/1
222114 T A 233 4-5-4-6-1-25 FS $699,000- Villas Of Kamalii #25 1,825 #25 3/3
224267 T A 163 4-5-4-12-9-19 FS $725,000- Pali Ke Kua Iii #141 1,148 #141 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.

It was a relatively slow week in terms of new listings and price changes but two properties did go into escrow, both of which were short sales. The two new listings are actually "born again" listings as both have been on the market for extended periods in the past. Ka'iulani 50 is a developer's unit which was previously listed from 12/06 to 1/08 for $1.8M. It is new this week listed at $1.749M.

Plantation 711, priced at $549K was purchased for $455,402 on 9/05. This unit first came on the market in 1/05 at $575K and was listed for 352 days before it was withdrawn on 1/06. Since the seller only took possession of the on 9/05 I would say that they were already under contract with the developer back in 1/05 when it was first listed apparently with the intention of "flipping" it to a new owner when the current seller took possession. During this listing period the condo went from $575K to $590K to $695K to a high of $725K. It appears from the history that it was unsucessfully in escrow twice but was finally withdrawn. It was relisted from 9/06 to 8/09 starting at $725K and reducing to $619K before it was once again withdrawn with 1,092 market days on 8/09.

I've showed this unit many times because it is one of the nicest ground floor units with stainless steel appliances, upgraded granite slab countertops, upgraded cabinets, travertine tile in the kitchen, designer window coverings plus it is beautifully furnished. It faces out onto Ka Haku road but the landscaping is such that the road noise is not as intrusive as it is in some other similarly placed units. At this "new" price of $549K, it's in the middle of the pack. Here are all the Plantation listings:

Copyright 10/31/2009 by Hawaii Information Service

226519 T A 80 4-5-4-5-23-14 FS $495,000 Plantation At Princeville #412 1,153 #412 2/2
216340 T A 393 4-5-4-5-23-41 FS $499,000 Plantation At Princeville #1111 1,153 #1111 2/2
218864 T A 325 4-5-4-5-23-11 FS $549,000 Plantation At Princeville #321 1,318 #321 3/3
228849 T A 3 4-5-4-5-23-25 FS $549,000 Plantation At Princeville #711 1,153 #711 2/2
214741 T A 382 4-5-4-5-23-66 FS $578,000 Plantation At Princeville #1712 1,153 #1712 2/2
228374 T A 22 4-5-4-5-23-55 FS $579,000 Plantation At Princeville #1421 1,318 #1421 3/3
226280 T A 89 4-5-4-5-23-51 FS $625,000 Plantation At Princeville #1321 1,318 #1321 3/3
216921 T A 382 4-5-4-5-23-3 FS $639,000 Plantation At Princeville #121 1,318 #121 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.

Kamahana 28, purchased for $599K in 4/06 went into escrow as a short sale listed at $250K after 474 market days. Hale Moi 219, also went into escrow priced at $349K with a purchase price of $493K in 3/05. Puamana 24A, yet another short sale, closed on 10/28/09 with a purchase price of $300K from a sale price of $349K. This unit sold for $605K in 12/05.

Kamahana 13, purchased for $640K in 10/05 and listed for $449K expired as did Puamana 13C, listed at $599K and purchased for $589K in 11/05. Hanalei Bay Resort 1537/8 which last sold for $430K in 8/04 also expired while listed at $695K.

Two of the developer's Nihilani units were withdrawn: The 3B Hoku model listed at $484K ad the 15B upgraded Makani unit listed at $648K. 15B was originally in escrow with the developer during which time the intended buyer ordered many upgrades but then defaulted and did not close. As a result, this unit has top of the line Fisher and Paykel stainless steel appliances with granite countertops, cherry cabinetry, Subzero Refrigerator and crown molding in the kitchen, living room and master bedroom! It really is a beautiful unit. Keep it in mind if you visit Nihilani as it's still available even though it's off the market.

There were just a few price changes this week, starting with Ka'iulani 76 which went from $1.1M to $975K. This unit sold from the developer on 4/07 for $900,570. Puamana 8C sold as a leasehold for $95K in 7/88 and was then converted to fee simple in 5/00 for $35,700. It reduced from $385K to $377,777. Nihlani 11A, a developer's Moana unit, reduced from $560K to $530. Pali Ka Kua 108 which sold for $$69K in 3/02 went from $649K to $619K. Villas of Kamali'i 25 went from $759K to $699K and last sold for $625K in 3/04. The final reduction is my listing, Pali Ke Kua 141, a beautifully renovated unit purchased for $205K in 1/99. It reduced from $765K to $725K. If you have not seen this unit, and are interested in a PKK that is in move in condition, you must see it. Here are the Pali Ke Kua's on the market:

Copyright 10/31/2009 by Hawaii Information Service

214607 T A 446 4-5-4-12-9-9 FS $589,000 Pali Ke Kua #13 1,135 #13 2/2
204622 T A 679 4-5-4-12-8-28 FS $599,000 Pali Ke Kua Ii #232 993 #232 2/2
218823 T A 330 4-5-4-12-5-8 LH $619,000 Pali Ke Kua Incr I, ii, iii #108A 717 #108 1/1
218310 T A 285 4-5-4-12-5-9 FS $719,900 Pali Ke Kua Incr I, ii, iii #109A 717 #109A 1/1
224267 T A 163 4-5-4-12-9-19 FS $725,000 Pali Ke Kua Iii #141 1,148 #141 2/2
211355 T A 533 4-5-4-12-5-5 FS $743,000 Pali Ke Kua Incr I, ii, iii #105A 717 #105A 1/1

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

Now on to your Princeville home update:

Copyright 10/31/2009 by Hawaii Information Service

NEW LISTINGS
228769 RS A 3 4-5-4-7-7 FS $1,200,000 3930 Namakeha Loop 10,127 sqft 1,800 3/2.5

CONTINGENT SALES
219774 RS C 26 4-5-4-13-65 FS $662,000 3717 Albert Rd 12,762 sqft 2,377 3/3
225252 RS C 128 4-5-4-21-10 FS $889,000 3836 Kaweonui Rd 10,018 sqft 2,016 3/3

SALES
223822 RS S 127 4-5-4-13-6 FS $580,150 3695 Kaweonui Rd 11,121 sqft 2,492 4/2
SOLD 10/26/2009 for $575,000 (CNV) DOM 127

WITHDRAWN
224065 RS W 154 4-5-4-9-62 FS $849,000 5371 Honoiki Rd 16,710 sqft 1,410 3/3

PRICE CHANGES
220147 RS A 276 4-5-4-22-10 FS $615,000- 4030 Kawaiala 10,614 sqft 1,710 3/2.5
224144 RS A 169 4-5-4-16-65 FS $900,000- 4465 Emmalani Dr 10,896 sqft 2,122 3/2
223397 RS A 194 4-5-4-18-37 FS $949,000- 4193 Kamalani Ln 10,006 sqft 3,320 4/3

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. I hope everyone had a safe and fun filled Halloween filled with lots of good chocolate. At least that would be what I want. It's a beautiful day in Paradise. Don't waste time buying or selling until you get the facts. Please call or email when you are ready to buy or sell. That's why I'm here.

Aloha Elaine

Can't help myself. Here is another picture of the resort we stayed at in Bora Bora.

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,

I'm back from Bora Bora and yes, we had a fabulous time. The overwater bungalows with the glass topped coffee table for fish watching were everything I dreamed they would be. We even swam under the bungalow ourselves and took each others picture through the glass top coffee table. The wedding ceremony was in traditional Polynesian garb on the Matira beach. Here we are with our marriage official, "Patrick."

We did everything: Swam with sharks in the deepest blue water I've ever seen, (that's my hand you see on the left with the shark in the background)

(Yes, we are in the water with the sharks while taking these pictures!)

Pet and fed stingrays,

rented a small boat and went around the whole island and did the same thing the prior day on a one speed bicycle that defied my expectations and actually lasted the whole 19 miles without falling apart.

We ate great French food and were treated to an unexpected delighted one night at the St. James Restaurant as we sat waterside enjoying dinner, when a huge, and I mean huge (6 foot) manta ray rose up from the deep and did three barrel rolls in the water just below our table before quickly going back into deep water.

While visiting with a gal in the neighboring dive shop the next day we learned they used to give dives out to see this huge ray, but since so many new resorts were constructed out on the motu's (small Islands surrounding Bora Bora) over the last few years, the big mantas moved. If you are on a motu, as we were, and as many of the resorts are, power boats are used to shuttle guests back and forth from the motu to the main Island.

The waters of Bora Bora are so calm because the entire Island is ringed by a fringe of small motus and / or reefs. The shades of blue are another story altogether and in some cases, simply too amazing and beautiful to describe.

I knew I shouldn't get started talking about the past week because my purpose here is to give you the weekly update so I will stop and get back to business. This update is a little longer as it includes the two days I omitted from the update last week due to our departure. So, on to your update:

Copyright 10/25/2009 by Hawaii Information Service

NEW LISTINGS
228548 T A 5 4-5-3-6-22-20 FS $2,650,000 Kaiulani Of Princeville #20 2,864 #20 3/3.5
228569 T A 6 4-5-4-5-39-4 FS $262,500 Cliffs At Princeville #1104 917 #1104 1/2
224986 T A 5 4-5-4-5-39-72 FS $439,000 Cliffs At Princeville #3204 917 #3204 1/2
227179 T A 5 4-5-4-6-1-54 FS $849,000 Villas Of Kamalii #54 1,767 #54 3/3
226738 T A 5 4-5-4-5-16-42 FS $874,000 Alii Kai At Hanalei #5202 1,086 #5202 2/2
228566 T A 2 4-5-4-12-3-34 FS $999,000 Hanalei Bay Villas #34 1,248 #34 2/2.5

UNDER CONTRACT
226523 T U 75 4-5-4-5-4-5 FS $209,000 Princeville Mauna Kai #5A 1,503 #5A 2/2

EXPIRED
217010 SH X 311 4-5-4-6-1-49 FS $230,000 Villas Of Kamalii #49 1,825 #49 3/3
217215 SH X 311 4-5-4-6-1-49 FS $245,000 Villas Of Kamalii #49 1,825 #49 3/3
217229 T X 353 4-5-4-5-18-6 FS $549,000 Puamana #2B 1,532 #2B 2/2

WITHDRAWN
217582 T W 347 4-5-3-6-22-18 FS $2,349,000 Kaiulani Of Princeville #18 2,864 #18 3/3.5
219806 T W 284 4-5-3-6-22-6 FS $2,465,000 Kaiulani Of Princeville #6 2,861 #6 3/3.5

PRICE CHANGES
218643 SH A 327 4-5-4-5-23-30 FS $99,000- Plantation At Princeville #812 1,153 #812 2/2
218642 SH A 327 4-5-4-5-23-30 FS $99,000- Plantation At Princeville #812 1,153 #812 2/2
218641 SH A 327 4-5-4-5-23-30 FS $99,000- Plantation At Princeville #812 1,153 #812 2/2
218640 SH A 327 4-5-4-5-23-30 FS $99,000- Plantation At Princeville #812 1,153 #812 2/2
218639 SH A 327 4-5-4-5-23-30 FS $99,000- Plantation At Princeville #812 1,153 #812 2/2
218864 T A 319 4-5-4-5-23-11 FS $549,000- Plantation At Princeville #321 1,318 #321 3/3
228464 T A 11 4-5-4-5-24-76 FS $639,000- Nihilani At Princeville Resort #26A 1,874 #26A 3/2.5
211712 T A 520 4-5-4-11-3-7 FS $995,000- Hanalei Bay Resort #B13 1,324 #9123/4 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.

Ka'iulani 20, purchased from the developer for $1,985,180 in 11/07 is back on the market listed at an optimistic $2.650M. This property was previously listed from 1/08 to 1/09 and from 2/09 to 7/09 for $2.650M and was withdrawn on both occasions. Maybe the third time is a charm. Cliffs 1104 is at a new price of $262,500 but was previously listed from 5/08 to 10/09, starting at $489K and dropping to $275K just before being withdrawn from the market. It last sold for $135K in 3/01. Cliffs 3204 is making it's first appearance on the market since selling for $380K in 1/08. It is now listed for $439K. Villas of Kamali'i 54 was purchased for $607,500 in 11/03 and is back as a new listing at $849K. This unit was listed from 5/06 to 1/07, starting at $1.185M and dropping to $1.095M before it expired. Ali'i Kai 5202 listed at $874 and purchased for $405K in 7/03 was previously listed from 9/06 to 2/07 for $1.195M when it was withdrawn. Last up is Hanalei Bay Villa 34, purchased for $975K in 11/05 and listed for $999K.

No properties sold during this period, however, Mauna Kai 5A, a bank foreclosure listed for $209K went back under contract. This property showed as sold on 9/28 but came back on the market on 10/6 and went back under contract on 10/20.

Two fractional segments of Villas of Kamali'i 49 expired while listed at $230K. This unit sold as a whole unit for $509,400 in 10/03. Puamana 2B also expired while listed for $549K. This unit sold for $510K in 6/05.

Ka'iulani 18, purchased for $1,972,350 in 10/07 and listed for $2.349M was withdrawn after 347 market days. Ka'iulani 6 was also withdrawn, listed for $2.465M and purchased for $2,051,780.

Of the eight price changes this week, 5 were fractional segments of Plantation 812 which went to an amazing $99K from $145K. This unit sold for $729K in 6/06. Plantation 321, purchased for $435K in 7/05 reduced from $649K to $549K. Nihilani 26A, purchased from the developer for $805K in 12/06 reduced from $675K to $639K. The last reduction is Hanalei Bay Resort 9123/4 which went from $1.025M to $995K. This unit sold in 11/00 for $359K.

Now on to your Princeville home update:

Copyright 10/25/2009 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
224775 RS A 5 4-5-3-12-4 FS $1,995,000 4035 Aloalii Dr 9,415 sqft 3,407 3/3
210725 RS A 5 4-5-4-8-47 FS $2,999,000 5045 Kapiolani Lp 16,502 sqft 4,226 5/4.5
223389 RS C 5 4-5-4-14-31 FS $1,075,000 3885 Kamehameha Rd 12,127 sqft 2,372 4/3

CONTINGENT SALES
200621 RS C 792 4-5-4-21-7 FS $790,000 3770 Cr Kaweonui Rd/alber 10,737 sqft 2,184 3/2.5
223389 RS C 5 4-5-4-14-31 FS $1,075,000 3885 Kamehameha Rd 12,127 sqft 2,372 4/3

WITHDRAWN
226863 RS W 63 4-5-4-16-79 FS $769,500 4105 Kekaulike Ln 10,408 sqft 1,700 2/2

PRICE CHANGES
210765 RS A 537 4-5-4-23-24 FS $659,000- 3807 Makani Kai Pl 10,386 sqft 1,535 3/2
219774 RS A 20 4-5-4-13-65 FS $662,000- 3717 Albert Rd 12,762 sqft 2,377 3/3
218770 RS A 321 4-5-4-16-77 FS $737,000+ 4117 Kekaulike Ln 10,650 sqft 3,100 3/2.5
221404 RS A 245 4-5-4-14-32-5 FS $1,490,000- 3875 Kamehameha Rd #5 10,332 sqft 3,709 6/6

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

That brings us up to date for this week. I'm back home and here to stay so don't hesitate to call or email before buying or selling. Get the facts! That's why I'm here.

Aloha Elaine

View from our bungalow. Click on picture to see the panoramic view.

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!