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

Aloha,

Per the Friday Garden Island newspaper "Heavy summer rains led to flash flood warnings Thursday, soaking anything outdoors and twice closing the Hanalei Bridge. The bridge, first closed at 10:45 a.m., was reportedly reopened at 2:45 p.m., but was later closed again. Furthermore, a road crew with the state Department of Transportation was forced to clear a mudslide on Kuhio Highway in the Kalihiwai area, closing one lane of traffic, said a press release from county spokesperson, Mary Daubert. At 12:46 p.m., rain gauges and radar showed heavy rain falling at 4 inches per hour over windward Kaua‘i and was nearly stationary, according to the National Weather Service in Honolulu."

Wouldn't you know, an agent had a showing scheduled at one of my listings in Wainiha on Friday but had to cancel. Sometime Mother Nature intervenes and simply takes over. Despite the heavy rains, we ended the week filled with sunshine along with some properties closing and going into escrow. Here is your update for last week

Copyright 7/26/2009 by Hawaii Information Service

NEW LISTINGS
225648 T A 7 4-5-3-6-22-74 FS $979,000 Kaiulani Of Princeville #74 1,892 #74 2/2.5
225775 T A 4 4-5-4-5-18-15 FS $525,000 Puamana #4C 1,532 #4C 2/2

CONTINGENT SALES
211781 T C 419 4-5-4-5-3-24 FS $324,900 Princeville Paniolo #211 1,058 #211 1/2

SALES
221121 T S 139 4-5-4-5-3-3 FS $209,900 Princeville Paniolo #103 1,058 #103 1/2
SOLD 7/20/2009 for $184,900 (CASH) DOM 139

UNDER CONTRACT
221018 T U 99 4-5-4-5-12-28 FS $615,000 Sealodge Ii #J1 754 #J-1 2/2

EXPIRED
222685 T X 477 4-5-4-6-1-12 FS $875,000 Villas Of Kamalii #12 1,825 #12 3/3

WITHDRAWN
211499 SH W 423 4-5-4-6-1-20 FS $250,000 Villas Of Kamalii #20 1,825 #20 3/3
211496 SH W 423 4-5-4-6-1-20 FS $250,000 Villas Of Kamalii #20 1,825 #20 3/3
211500 SH W 423 4-5-4-6-1-20 FS $265,000 Villas Of Kamalii #20 1,825 #20 3/3
211498 SH W 423 4-5-4-6-1-20 FS $265,000 Villas Of Kamalii #20 1,825 #20 3/3
211497 SH W 423 4-5-4-6-1-20 FS $265,000 Villas Of Kamalii #20 1,825 #20 3/3
211495 SH W 423 4-5-4-6-1-20 FS $265,000 Villas Of Kamalii #20 1,825 #20 3/3
225032 T W 25 4-5-4-5-30-19 FS $299,000 Princeville Mauna Kai #D301 1,488 #26 3/2
210027 T W 472 4-5-4-5-30-6 FS $340,000 Princeville Mauna Kai #F6 1,400 #5 3/2
219527 T W 199 4-5-4-15-21-54 FS $399,900 Sandpiper Village I #217 1,173 #217 2/2.5
224662 T W 48 4-5-4-5-24-46 FS $575,000 Nihilani At Princeville Resort #16A 1,406 #16A 2/2
216008 T W 301 4-5-4-12-11-47 FS $1,500,000 Puu Poa #405 1,800 #405 2/2

TEMPORARILY WITHDRAWN
222619 SH T 103 4-5-4-12-3-8 FS $465,000 Hanalei Bay Villas #8 1,244 #8 2/2.5
222618 T T 103 4-5-4-12-3-8 FS $875,000 Hanalei Bay Villas #8 1,244 #8 2/2.5

PRICE CHANGES
206220 T A 538 4-5-3-6-22-67 FS $994,500- Kaiulani Of Princeville #67 1,781 #67 2/2.5
222341 SH A 129 4-5-4-5-23-23 FS $150,000- Plantation At Princeville #621 1,318 #621 3/3
196334 SH A 793 4-5-4-6-1-42 FS $185,000- Villas Of Kamalii #42 1,825 #42 3/3
208860 SH A 487 4-5-4-5-23-35 FS $190,000- Plantation At Princeville #921 1,318 #921 3/3
196328 SH A 793 4-5-4-6-1-42 FS $199,000- Villas Of Kamalii #42 1,825 #42 3/3
224335 T A 61 4-5-4-15-21-11 FS $275,000- Sandpiper Village I #111 1,042 #111 2/2
225976 T A 8 4-5-4-12-2-15 FS $325,000- Hale Moi #115 1,033 #115 1/2
204020 T A 605 4-5-4-12-2-28 FS $399,000- Hale Moi #208 1,033 #208 2/2
226115 T A 286 4-5-4-5-24-50 FS $515,000- Nihilani At Princeville Resort #17B 1,567 #17B 3/2.5
211355 T A 436 4-5-4-12-5-5 FS $745,000- 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.

There are two new listings this week: First up is Ka'iulani 74, listed for $979K. This unit last sold for $898,250 in 4/07. Next is Puamana 4C, which last sold for 4/07 for $487K and is now listed for $525K. This price puts it at the high end of the current Puamana listings. See below:

Copyright 7/26/2009 by Hawaii Information Service

222149 T A 136 4-5-4-5-18-1 FS $325,000 Puamana #1A 1,312 #1A 2/2
214486 T A 356 4-5-4-5-18-89 FS $349,000 Puamana #24D 1,532 #24D 2/2
221307 T A 152 4-5-4-5-18-86 FS $370,000 Puamana #24A 1,312 #24A 2/2
223148 T A 88 4-5-4-5-18-71 FS $382,750 Puamana #20A 1,532 #20A 2/2
221962 T A 139 4-5-4-5-18-30 FS $385,000 Puamana #8C 1,532 #8C 2/2
206918 T A 732 4-5-4-5-18-91 FS $385,000 Puamana #25B 1,532 #25B 2/2
225622 T A 18 4-5-4-5-18-39 FS $400,000 Puamana #11B 1,673 #11B 3/3
218778 T A 233 4-5-4-5-18-60 FS $425,000 Puamana #17A 1,312 #17A 2/2
216508 T A 290 4-5-4-5-18-38 FS $499,500 Puamana #11A 1,312 #11A 2/2
225775 T A 4 4-5-4-5-18-15 FS $525,000 Puamana #4C 1,532 #4C 2/2
217229 T A 270 4-5-4-5-18-6 FS $549,000 Puamana #2B 1,532 #2B 2/2
191813 T A 887 4-5-4-5-18-21 FS $579,000 Puamana #6B 1,732 #6B 3/2
223620 T A 84 4-5-4-5-18-47 FS $599,000 Puamana #13C 1,532 #13C 2/2

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

One property went into escrow, Paniolo 211, which last sold for $125K as a leasehold in 12/99 and was converted to fee simple in 2/03 for $45K. This unit was listed at $324,500. Another Paniolo, unit 103 which was a Fannie Mae foreclosure, listed at $209,900 closed this week at $184,900. This unit sold for $410K in 4/05 and was taken over by the bank in 1/09. Sealodge J1, priced at $615K, with a purchase price of $325K in 9/02 went from in escrow to under contract. We should see this unit closing within the next week or two.

Villas of Kamali'i 12, which sold for $750K in 6/05 expired while listed for $875K after 477 days on the market. This unit came on the market on 3/08 at $900K and expired in 3/09 at the same price. It came back on the market at $875K and stayed at that price until it expired this time.

The fractional shares of Villas of Kamali'i 20, which sold for $845K in 6/08 were withdrawn from the market as was Mauna Kai 26, which was a short sale at $299K. This unit last sold for $525K in 10/06 and offered quite a bit of square footage for the price. Maybe we'll see this one going into foreclosure next. Mauna Kai F6, also a short sale at $340K, with a purchase price of $431,650 in 11/04 may be facing a similar fate since it too was withdrawn. Sandpiper 217, listed at $399,900 and purchased for $310K in 2/04 also came off the market. Nihilani 16A, which sold from the developer in 5/06 for $603,600 was withdrawn listed at $575K. Pu'u Po'a 405 listed at $1.5M was withdrawn after 301 market days. This unit last sold for $430K in 1/00. It's easy to see why it was withdrawn, given the list prices of the other Pu'u Po'a units:

Copyright 7/26/2009 by Hawaii Information Service

225541 T A 20 4-5-4-12-11-46 FS $1,095,000 Puu Poa #404 1,352 #404 2/2
222345 T A 128 4-5-4-12-11-3 FS $1,259,000 Puu Poa #103 1,354 #103 2/2
200456 T A 690 4-5-4-12-11-14 FS $1,425,000 Puu Poa #114 2,065 #114 2/2
202256 T A 624 4-5-4-12-11-7 FS $1,490,000 Puu Poa #107 2,065 #107 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.

Hanalei Bay Resort 8 was temporarily withdrawn while listed at $875K for the whole unit or $465K for a 6 month fractional share. This unit last sold for $730K in 6/05.

Our price changes start off with Ka'iulani 67 which last sold for $895K in 1/08 and reduced from $1.049M to $994,500. Several of the fractional units reduced the first of which is Plantation 621 which went from $165K to $150K. Villas of Kamali'i 42 reduced from $250K to $185K and from $265K to $199K while Plantation 921 went from $200K to $190K. Keep in mind these are all 2 month fractional shares.

Sandpiper 111, which sold for $215K in 2/03 is a short sale which reduced from $299K to $275K. Hale Moi 115, with a purchase price of $444,500 in 12/4, is a short sale which reduced from $425K to $325K. Quite a reduction, which bring it's more in line with the other Hale Moi listings. Hale Moi 208 which last sold $215K in 11/01, reduced from $425K to $399K. Take a look at how these two units stack up with the other listings:

Copyright 7/26/2009 by Hawaii Information Service

224707 T A 41 4-5-4-12-2-16 FS $314,000 Hale Moi #116 1,033 #116 1/2
225976 T A 8 4-5-4-12-2-15 FS $325,000 Hale Moi #115 1,033 #115 1/2
204020 T A 605 4-5-4-12-2-28 FS $399,000 Hale Moi #208 1,033 #208 2/2
209061 T A 460 4-5-4-12-2-6 FS $450,000 Hale Moi #106 1,033 #106 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.

Nihilani 17B, a 3 bedroom 2.5 bath Hoku unit which last sold on 7/06 for $637,113 reduced a small amount from $519K to $515K as did Pali Ke Kua 105, which went from $749K to $745K. This unit last sold on 8/07 for $795K. On to your Princeville home update:

Copyright 7/26/2009 by Hawaii Information Service

NEW LISTINGS
225957 RS A 5 4-5-4-18-31 FS $695,000 4226 Kina'u Pl 11,078 sqft 3,496 4/5

CONTINGENT SALES
221222 RS C 146 4-5-4-25-4 FS $2,800,000 5174 Hanalei Plantation 16,307 sqft 4,215 3/3

SALES
219148 RS S 144 4-5-4-15-16 FS $588,900 3834 Haulani Pl 11,020 sqft 2,048 3/3
SOLD 7/21/2009 for $567,000 (CNV) DOM 144

212844 RS S 346 4-5-4-22-5 FS $639,000 4077 Cr Pauahi Pl/nalani 10,270 sqft 2,169 4/2
SOLD 7/23/2009 for $589,000 (CNV) DOM 346

WITHDRAWN
222510 RS W 99 4-5-4-23-76 FS $729,000 3789 Mapuana Pl 6,398 sqft 1,535 3/2.5

PRICE CHANGES
203978 RS A 612 4-5-3-11-41 FS $899,000- 4120 Aloalii Dr 9,103 sqft 2,521 3/3.5
220252 RS A 184 4-5-3-12-42 FS $995,000- 4046 Aloalii Dr 8,041 sqft 1,603 2/2.5
220384 SH A 215 4-5-4-15-3 FS $329,000- 3979 Kamehameha Rd 10,772 sqft 3,558 5/3.5
220383 SH A 215 4-5-4-15-3 FS $329,000- 3979 Kamehameha Rd 10,772 sqft 3,558 5/3.5
220380 SH A 215 4-5-4-15-3 FS $329,000- 3979 Kamehameha Rd 10,772 sqft 3,558 5/3.5
220378 SH A 215 4-5-4-15-3 FS $329,000- 3979 Kamehameha Rd 10,772 sqft 3,558 5/3.5
219340 SH A 215 4-5-4-15-3 FS $329,000- 3979 Kamehameha Rd 10,772 sqft 3,558 5/3.5
219338 SH A 215 4-5-4-15-3 FS $329,000- 3979 Kamehameha Rd 10,772 sqft 3,558 5/3.5
219081 SH A 224 4-5-4-16-22 FS $345,000- 4080 Kaa'humanu Pl 9,731 sqft 2,460 4/3.5
220376 SH A 224 4-5-4-16-22 FS $355,000- 4080 Kaa'humanu Pl 9,731 sqft 2,460 4/3.5
220375 SH A 224 4-5-4-16-22 FS $355,000- 4080 Kaa'humanu Pl 9,731 sqft 2,460 4/3.5
221534 RS A 131 4-5-4-13-48 FS $799,000- 3677 Keoniana Rd 11,432 sqft 2,066 3/2.5
224854 RS A 44 4-5-4-19-19 FS $799,800- 5086 Napo'okala Cir 15,326 sqft 2,206 3/3
224966 SH A 94 4-5-4-15-3 FS $919,000- 3979 Kamehameha Rd 10,772 sqft 3,558 5/3.5
224967 SH A 224 4-5-4-16-22 FS $945,500- 4080 Kaa'humanu Pl 9,731 sqft 2,460 4/3.5
192009 RS A 881 4-5-4-10-27 FS $1,225,000- 5222 Honoiki Rd 10,174 sqft 2,860 3/4
221404 RS A 154 4-5-4-14-32-5 FS $1,580,000- 3875 Kamehameha Rd #5 10,332 sqft 3,709 6/6
222510 RS W 99 4-5-4-23-76 FS $729,000- 3789 Mapuana Pl 6,398 sqft 1,535 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.

The new listing on Kina'u Place for $695K looks like it has a lot to offer at that price. The location is superb but the home was built in 1979 and has some water damage to the kitchen. But still, it's worth a look!

Have a great week and don't forget to call or email to get the facts.

Aloha Elaine

I enjoyed this beautiful sunset last night while out walking.

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,

Every week we see more and more short sales and foreclosures with some excellent pricing. Case in point is one of the new listings this week at Nihilani. What surprises me is that buyers aren't jumping on these properties. If I didn't already own in Nihilani (sigh...compared to today's market I paid waaaaay too much) I'd buy a unit myself. I don't know if it's the perception that pricing will continue to go down or what but buyers seem to be just sitting on the sidelines. While it may be "quiet" now, I can assure you that when the turn comes, with properties priced as they are, the agents will be working 24/7 to keep up with the buying requests. The moral there is; get in now when it's quiet and you can leverage the current buyer disinterest to your advantage. Sellers are eager to please these days and will welcome any serious buyer with an offer. That opportunity does not always exist. Here's your update for this week:

Copyright 7/18/2009 by Hawaii Information Service

NEW LISTINGS
225976 T A 0 4-5-4-12-2-15 FS $425,000 Hale Moi #115 1,033 #115 1/2
225806 T A 2 4-5-4-5-24-40 FS $489,900 Nihilani At Princeville Resort #14A 1,874 #14A 3/2.5
225762 T A 3 4-5-4-5-39-169 FS $665,000 Cliffs At Princeville #7305 1,137 #7305 2/2

BACK ON THE MARKET
222926 T A 98 4-5-4-5-24-66 FS $569,000 Nihilani At Princeville Resort #22C 1,874 #22C 3/2.5

SALES
223314 T S 59 4-5-4-6-1-44 FS $678,999 Villas Of Kamalii #44 1,825 #44 3/3
SOLD 7/13/2009 for $600,000 (CASH) DOM 59

EXPIRED
196541 T X 697 4-5-4-12-10-25 FS $550,000 Emmalani Court #413 952 #413 1/2
212665 T X 391 4-5-4-12-11-2 FS $1,595,000 Puu Poa #102 1,352 #102 2/2

WITHDRAWN
220019 T W 148 4-5-3-6-22-20 FS $2,650,000 Kaiulani Of Princeville #20 2,864 #20 3/3.5
216718 T W 283 4-5-4-5-24-50 FS $565,000 Nihilani At Princeville Resort #17B 1,567 #17B 2/2.5

TEMPORARILY WITHDRAWN
216338 T T 292 4-5-4-5-3-13 FS $385,000 Princeville Paniolo #113 1,058 #113 1/2

PRICE CHANGES
222340 SH A 22 4-5-4-5-23-23 FS $150,000- Plantation At Princeville #621 1,318 #621 3/3
211355 T A 428 4-5-4-12-5-5 FS $749,000- 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.

Hale Moi 115 is new, listed at the price of $425K which is well above what 216 is listed at. 216 is completely - and I do mean completely - updated with new kitchen and bathroom cabinets, stainless steel appliances, granite tile countertop, new paint, carpets and on and on...and it's an upstairs unit with a loft in the living area listed for $345K. And this seller is motivated! Yes 216 is my listing, which is how I know the seller is MOTIVATED. But getting back to 115 - this downstairs unit was purchased for $444,500 on 12/04 and has not been updated.

Nihilani 14A is the buy of the week, listed as a foreclosure at $489,900. While not as highly upgraded as some of the other Makani units, this model has been selling in the mid $500's to $600's rin both resales and developer sales. 14A was purchased as both a new sales and resale in 3/06. The developer's sale was for $688,555 and was flipped the same day to the current owner (before the bank took it over) for $761,450 netting the original owner a tidy and quick profit. It has been listed numerous times before starting with 7/06 to 11/06 for $849,900 in another flipping attempt; again from 2/07 to 8/07 starting at $879K and reducing to $829K, and finally from 8/07 to 7/08 when it started at $819K and ended at $769K when it was withdrawn. It is now bank owned and very very well priced.

Cliffs 7305, a top floor unit, is listed at $665K and last sold for $242K in 8/00. It was previously listed for 609 days from 8/07 to 4/09 during which time it went from $875K to $745K before being withdrawn.

The Nihilani short sale of unit 22C is back on the market at the same price of $569K after expiring. This unit last sold in 11/06 for $848,956. There were no new escrow this week and only one closing on Villas of Kamali'i 44 which was a foreclosure. This unit sold for $739K in 5/05, was taken by the bank on 6/09 and closed for $600K.

Emmalani Court 413, which last sold for $565K in 7/05 expired listed at $550K as did Pu'u Po'a 102, listed at $1.595M. This unit last sold for $1.4M in 5/05 leaving this seller with very little room for negotiation if they wished to make a profit. Unfortunately with 404 listed at $1.095M, which is a top floor remodeled unit (102 is also remodeled) it is unlikely a buyer would pay that much more for a lower level unit. 404 remains a steal given that 411 just sold for $1.3M. Take a look and see how 404 stacks up against the other units on the market:

Copyright 7/19/2009 by Hawaii Information Service

225541 T A 13 4-5-4-12-11-46 FS $1,095,000 Puu Poa #404 1,352 #404 2/2
222345 T A 121 4-5-4-12-11-3 FS $1,259,000 Puu Poa #103 1,354 #103 2/2
200456 T A 683 4-5-4-12-11-14 FS $1,425,000 Puu Poa #114 2,065 #114 2/2
202256 T A 617 4-5-4-12-11-7 FS $1,490,000 Puu Poa #107 2,065 #107 2/2
216008 T A 296 4-5-4-12-11-47 FS $1,500,000 Puu Poa #405 1,800 #405 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.

This is another unit, much like the Nihilani 14A, that I can't believe is still on the market. If you're on Island and want to see it just give me a call (yes, this is my listing too) or feel free to come by the broker's open on Wednesday the 22nd in the morning.

Ka'iulani 20 was withdrawn after 148 market days with a list price of $2.650M and a sale price of $1,985,180 in 11/07. Nihlani 17B was withdrawn listed at $565K. This unit last sold for $637,113 in 7/06. Paniolo 113 was temporarily withdrawn listed at $385K. This unit was purchased as a leasehold in 6/00 for $115K at which time it was converted to fee simple for $31,500.

There were only a couple of price changes this week, starting with Plantation fractional 621 which went from $165K to $150K. This unit sold for $550K in 8/05. Also reducing is Pali Ke Kua 105 which went from $828K to $749K. It dropped a few more dollars on Sunday going to $745K. What's interesting about this unit is that when it was listed back in 07, no one looked at it while listed at $995K but as soon as it reduced in one $200K drop to $795K, it sold. For some reason once the buyer became the owner, it appeard to them that someone would do what they themselves would not do, which was - pay more than $795K because they put it back on the market in 5/08 listed for $1.1M and it's been on a downward trend since then.
Here is your Princeville homes update:

Copyright 7/18/2009 by Hawaii Information Service

NEW LISTINGS
225837 RS A 3 4-5-4-7-6 FS $1,895,000 3932 Namakeha Lp 12,575 sqft 2,848 4/3.5

WITHDRAWN
222875 RS W 97 4-5-4-18-24 FS $825,000 4679 Emmalani Dr 11,128 sqft 1,861 4/3

PRICE CHANGES
223822 RS A 75 4-5-4-13-6 FS $613,100- 3695 Kaweonui Rd 11,121 sqft 2,492 4/2
210765 RS A 438 4-5-4-23-24 FS $672,000- 3807 Makani Kai Pl 10,386 sqft 1,535 3/2
218860 RS A 222 4-5-4-7-5 FS $795,000- 3934 Namakeha Loop 13,387 sqft 2,047 3/2
218770 RS A 222 4-5-4-16-77 FS $899,000- 4117 Kekaulike Ln 10,650 sqft 2,878 3/2.5
210722 RS A 444 4-5-4-18-7 FS $998,000- 4170 Mahina Pl 10,751 sqft 2,310 2/3.5
221587 SH A 141 4-5-4-9-49 FS $1,150,000- 5289 Pokii Ln 20,868 sqft 3,510 4/4
221684 RS A 141 4-5-4-9-49 FS $2,295,000- 5289 Pokii Ln 20,868 sqft 3,510 4/4

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 happy to see some reductions coming through in the homes considering that there are currently 81 listings with only 5 in escrow. Even worse is the fact that there have only been 7 sales, yes 7 - one for each month basically - this entire year. You do the math - unless pricing improves to the point that buyers are motivated it will take forever to deplete this inventory. And as a side note, you would think that with 81 homes on the market a serious buyer could certainly find one under $1M. I'm sorry to say that was not the case with my clients as we scoured Princeville for something with "features and benefits" instead of "issues." We haven't given up yet though.....

That's it for this week. Enjoy your own little Paradise and when you're ready to move to the real thing don't forget to call or email. BTW, I also have a great lot for sale near the Albert Road cul de sac. (Left off of Kaweonui.) Currently listed at $398K, it will post a healthy reduction tomorrow, Monday and will be the least expesive lot in Princeville. MLS 222971. Call me if you're in the market for land - or if you need the facts on any other home or condo.

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!

Aloha,

Sitting here on this beautiful summer morning, looking at the ocean framed by the swaying palms and banana trees, with fluffy white clouds floating in the blue sky, it comes as no surprise to me that Kauai was voted as the 4th "best overall island in the world" by Travel + Leisure magazine readers for the second year in a row. After all, it's just another perfect day in Paradise. Here are the full rankings courtesy of Travel + Leisure magazine:

Top 10 Islands Overall
‘09 Rank ‘08 Name Score
1 2 Bali 87.41
2 1 Galápagos 86.80
3 10 Cape Breton Island, Nova Scotia 86.09
4 4 Kauai 85.90
5 - Mount Desert Island, Maine 85.87
6 3 Maui 85.48
7 - Aeolian Islands, Italy 85.13
8 - Maldives 84.43
9 7 Big Island 83.92
10 - Vancouver Island 83.74

If that's not enough to make you want to make the move to Paraside here's another tidbit from the July 13th edition of the Pacific Business News: "Hawaii continues to lead the nation in the percent of millionaires per overall population." The article went on to say that "6.4 percent of Hawaii's households, or 28,363, are millionaires. That's down from 7.26 percent in 2008 but still high enough of a percentage to lead the nation for the second year in a row."

If you're specifically looking for a millionaire but cannot make it to Hawaii "Rounding out the top five states in millionaires per population are Maryland (6.3 percent), New Jersey (6.2 percent), and Connecticut (6.2 percent). These states maintained their order of ranking from 2008. Virginia (5.5 percent) cracked the top five in 2009, up from sixth place in 2008, while Massachusetts (5.4 percent) came in sixth in 2009, down from fifth place the previous year."

Call me if you need any more encouragement and I'll send you a list of all the good buys on the Island.

Aloha Elaine

The view from my living room

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,

Activity seems to have slowed this week, perhaps because everyone went home after the 4th. An easy gauge for me of the number of tourists on the Island is the Cliff's parking lot. With two timeshare organizations along with whole ownership in the complex, a full parking lot means the timeshares are going great guns. Not so today, where you have your choice of parking spaces. Here is your update for this week:

Copyright 7/11/2009 by Hawaii Information Service

NEW LISTINGS
225703 T A 1 4-5-4-15-21-34 FS $275,000 Sandpiper Village I #134 1,042 #134 2/2
225622 T A 3 4-5-4-5-18-39 FS $400,000 Puamana #11B 1,673 #11B 3/3
225402 T A 3 4-5-4-5-17-14 FS $565,000 Alii Kai Ii Hanalei #9F 1,037 #9F 2/2
225686 T A 2 4-5-4-5-16-57 FS $675,000 Alii Kai At Hanalei #7202 886 #7202 2/2
225541 T A 5 4-5-4-12-11-46 FS $1,095,000 Puu Poa #404 1,352 #404 2/2

BACK ON THE MARKET
222340 SH A 15 4-5-4-5-23-23 FS $165,000 Plantation At Princeville #621 1,318 #621 3/3

SALES
222524 T S 59 4-5-4-12-11-53 FS $1,500,000 Puu Poa #411 1,777 #411 2/2
SOLD 7/7/2009 for $1,300,000 (CASH) DOM 59

UNDER CONTRACT
210693 T U 375 4-5-4-5-24-28 FS $650,000 Nihilani At Princeville Resort #10A 1,874 #10A 3/2.5

EXPIRED
222926 T X 91 4-5-4-5-24-66 FS $569,000 Nihilani At Princeville Resort #22C 1,874 #22C 3/2.5

WITHDRAWN
176670 T W 1,064 4-5-4-5-16-57 FS $675,000 Alii Kai At Hanalei #7202 886 #7202 2/2
223902 T W 56 4-5-4-5-16-45 FS $775,000 Alii Kai At Hanalei #5301 1,086 #5301 2/2

TEMPORARILY WITHDRAWN
225032 T T 25 4-5-4-5-30-19 FS $299,000 Princeville Mauna Kai #D301 1,488 #26 3/2
225090 T T 19 4-5-4-5-18-50 FS $390,000 Puamana #14B 1,532 #14B 2/2

PRICE CHANGES
222342 SH A 114 4-5-4-5-23-23 FS $150,000- Plantation At Princeville #621 1,318 #621 3/3
204804 T A 394 4-5-4-5-39-33 FS $230,000- Cliffs At Princeville #2103 917 #2103 1/2
223363 T A 84 4-5-4-5-4-5 FS $259,000- Kaeo Kai Ph I #5A 1,503 #5A 2/2
224707 T A 26 4-5-4-12-2-16 FS $314,000- Hale Moi #116 1,033 #116 1/2
219527 T A 187 4-5-4-15-21-54 FS $399,900- Sandpiper Village I #217 1,173 #217 2/2.5
204020 T A 590 4-5-4-12-2-28 FS $425,000- Hale Moi #208 1,033 #208 2/2
214167 T A 346 4-5-4-12-8-24 LH $449,000- Pali Ke Kua Ii #130 1,100 #130 2/2
213707 T A 826 4-5-4-5-16-41 FS $599,000- Alii Kai At Hanalei #5201 1,086 #5201 2/2
218777 T A 214 4-5-4-11-3-29 FS $829,000- Hanalei Bay Resort #H23 1,324 #5207-8 (H23) 2/2
225032 T T 25 4-5-4-5-30-19 FS $299,000- Princeville Mauna Kai #D301 1,488 #26 3/2

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

Sandpiper 134 is a "renewed" listing at a nice low price of $275K. A short sale, this unit sold for $485K in 7/05 and was previously listed from 1/07 to 7/07, starting at $575K and reducing to $550K and again from 11/07 to 11/08 when it was listed for $535K for the entire year with no reductions.

Puamana 11B, purchased for $445,500 in 9/07 is a new listing at $400K. This is one of the original 3 bedroom units and not one that was created by extending the loft area of a 2 bedroom unit. Plenty of room here. Ali'i Kai 9F, listed at $565K, was purchased for $560K in 9/05. Ali'i Kai 7202 is back as a new listing again. This unit sold for $115K in 1/88 and was listed most recently from 4/06 to 7/09, starting at $925K and reducing to $675K before it was withdrawn with 1065 market days.

Pu'u Po'a 404, listed at $1.095M is the last new listing this week. It was purchased for $325K in 7/91 and was previously listed for $1.675M in 10/07 but reduced to $1.450M before it was withdrawn in 3/08. It came back on the market from 7/08 to 11/08 listed at $1.475M before it was again withdrawn. Since that time, the seller did extensive renovating to include new cherry kitchen and bathroom cabinetry, new Silestone countertops in the kitchen, the cottage cheese ceiling was removed, refinished and painted along witht he rest of the unit then new fans, water heater, light switches, plumbing supply lines and turn off values were installed. After doing all the work to improve the unit, it was reduced to the current price of $1.095M. This top floor unit offers endless ocean views from throughout the unit and a view of the pool and Bali Hai from the lanai. You'll see further down in this report that another top floor unit just closed at $1.3M which should tell you what a great opportunity this property represents.

A fractional share of Plantation 621 is back on the market after going under contracct on 4/2/09. Unfortunately, it apparently fell out and is back on the market along with the 5 other fractional shares which range in price from $150K to $170K. The only sale this week is Pu'u Po'a 411, an extensively remodeled top floor unit that originally sold for $320K in 6/97. Listed for $1.5M it closed at $1.3M netting its owner a nice profit.

The developer's Nihilani 10A moved closer to closing as it went from contigent to under contract. Previously listed at an unrealistic $765K this unit was reduced to $650K on 5/29 when it went into escrow and will undoubtedly close at that price in the next week or two.

A resale Nihilani, unit 22C which sold for $848,956 on 11/06, expired as a short sale listed at $569K. Also coming off the market are two Ali'i Kai units that were withdrawn, although one, Ali'i Kai 7202 was withdrawn so it could come back on the market as a new listing with zero market days. This unit is agent owned. Alii Kai 5301, purchased for $977K in 4/07 and listed for $775K with also withdrawn. Mauna Kai 26 which sold for $525K in 10/06 was temporarily withdrawn while listed as a short sale for $299K. This unit originally came on the market in 4/07 at $619K and reduced to $525K before expiring a year later in 4/08. This last time, unit 26 started out at $399K, and was just reduced to $299K, as you'll see under price changes, when the sellers apparently changed their minds and took it off the market. Puamana 14B, a foreclosure, was temporarily withdrawn while listed for $390K. This unit sold for $625K in 3/06.

As we saw under new listings, the fractional portion of Plantation 621 reduced from $165K to $150K. Cliffs 2103, a short sale which sold for $50K as a leasehold in 12/98 then converted to fee simple in 6/03 for $63K, reduced from $260K to $230K. Ka'eo Kai 5A, purchased for $200K in 8/02 reduced from $270K to $259K as a foreclosure. Hale Moi 116, a short sale which sold for $459K in 10/04 reduced from $339K to $314K. Sandpiper 217, reduced from $429K to $399K and sold for $310K in 2/04. Hale Moi 208 reduced from $495K to $425K leaving it well above unit 216 at $345K and 116 at $314K. This unit sold for $215K on 11/01. Pali Ke Kua 130, a leasehold unit which is offered with 5 years of paid leasehold fees when you purchase it, reduced from $499K to $449K and sold for $429K in 3/06. This unit is also agent owned. Ali'i Kai 5201, a short sale, reduced from $650K to $599K and sold for $875K in 8/05. It has been on the market 826 days. Hanalei Bay Resort 5207-08, which was purchased for $950K iin 9/05 reduced from $895K to $829K. Our final reduction is the short sale Mauna Kai unit 26 that went from $399K to $299K before withdrawing from the market.

Now on to your Princeville house update:

EXPIRED
213380 RS X 365 4-5-4-24-18 FS $799,000 4275 Waileia Pl 10,390 sqft 2,044 3/2

PRICE CHANGES
223366 RS A 85 4-5-4-15-1 FS $486,900- 3995 Kamehameha Rd 10,244 sqft 2,117 3/2
224336 RS A 50 4-5-4-23-38 FS $545,000+ 3812 Iluna Pl 6,895 sqft 1,310 3/2
225252 RS A 16 4-5-4-21-10 FS $919,000- 3836 Kaweonui Rd 10,018 sqft 2,016 3/3
218770 RS A 215 4-5-4-16-77 FS $925,000- 4117 Kekaulike Ln 10,650 sqft 2,878 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.

As you can see, there was very little activity as far as residential sales go. That's it for this week's update. Please call or email for the facts before you make a move. Get the facts.

Aloha Elaine

Albatross at the Cliffs from earlier this year.

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,

The month of June was quieter than expected with only 42 total sales for the month, down from 65 in June 08. June 2007 saw 85 sales, June 2006 133 sales, June 2005 had 170 sales (wow) while June 2004 we had 161 sales that month. Year to date for 09 we've had 211 sales compared to 329 this time last year. This represents a 35% decrease for the year. The year to date high was not 2005 as you might think (813 sales) but was 2006 with 974 sales. Of the 42 June 09 sales, 21 were single family homes, 5 vacant land, 1 commercial, and 15 were condos.

Sales volume was also down from $53M in June 08 to $35M in June 09. For comparison, June 07 had $75K, June 06 $81M, June 05 $119M and June 04 was at $92M. Year to date for June 08 had $282M while year to date June 09 had $141M in sales. The high sales volume for year to date was in 06 with $639M as the dollar amount.

Median sales price for residential dropped from June 08 to 09, going from $687,500 to $440,000. Land median sales price went from $830,475 in June 08 to $550,000 in June 09. Condos went from $695,000 in June 08 to $375,000 in June 09. All in all, the statistics still say it's a good time to buy. I hope you don't end up being one of those who says, a few years from now, "I wish I had..."

To see the June 1009 statistics in full click here to go to my website.

Until next month,

Aloha Elaine

A condo complex in Paradise: Pu'u Po'a.
Ask about the one I have listed.

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!