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

Aloha,

And Happy Fourth of July weekend. I hope all of you had weather that was as perfect as it was here in Paradise- bright blue skies and great trades. The fireworks were certainly enhanced having the moon as the backdrop. What fun. The market seemed busy this weekend as I had several showings. Hopefully we'll see some units going into escrow soon. Here is your update:

Copyright 7/5/2009 by Hawaii Information Service

NEW LISTINGS
225391 T A 6 4-5-4-5-24-2 FS $639,000 Nihilani At Princeville Resort #1B 1,874 #1B 3/2.5

BACK ON THE MARKET
204622 T A 561 4-5-4-12-8-28 FS $599,000 Pali Ke Kua Ii #232 993 #232 2/2
210501 T A 333 4-5-4-5-7-34 FS $749,000 Princeville Sealodge #D5 570 #D5 1/1

CONTINGENT SALES
221121 T C 143 4-5-4-5-3-3 FS $209,900 Princeville Paniolo #103 1,058 #103 1/2
215869 T C 296 4-5-4-5-23-16 FS $469,900 Plantation At Princeville #422 1,318 #422 3/3

SALES
210611 T S 239 4-5-4-5-24-33 FS $675,000 Nihilani At Princeville Resort #11C 1,972 #11C 3/3
SOLD 6/26/2009 for $675,000 (CNV) DOM 239

EXPIRED
215271 T X 309 4-5-3-6-22-48 FS $1,799,000 Kaiulani Of Princeville #48 2,479 #48 3/3
214168 T X 306 4-5-4-11-3-121 FS $550,000 Hanalei Bay Resort #T35 867 #2309-10 1/2

PRICE CHANGES
210027 T A 456 4-5-4-5-30-6 FS $340,000- Princeville Mauna Kai #F6 1,400 #5 3/2
221307 T A 131 4-5-4-5-18-86 FS $370,000- Puamana #24A 1,312 #24A 2/2
210611 T S 239 4-5-4-5-24-33 FS $675,000- Nihilani At Princeville Resort #11C 1,972 #11C 3/3
SOLD 6/26/2009 for $675,000 (CNV) DOM 239

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

Again, like last week, I'm happy to see only one new listing this week. As you saw from the update, we had two go into escrow and one sale. Having two escrows for every new listing is one good way to ease our over abundance of inventory woes. Nihilani 1B, listed for $639K as a short sale is the only listing this week. It's nicely upgraded with coconut wood floors, cherry cabinets and stainless steel appliances. This seller paid $912,788 for the unit is 3/07. With prices where they are now, it's hard to imagine paying that much but that's the nature of real estate - up and down!

Pali Ke Kua 232 is back on the market after expiring listed at $599K. This is a short sale that was purchased for $650K in 9/04. Also back on the market is Sealodge D5, which sold for $525K in 12/04.

Two properties went into escrow, starting with Paniolo 103, listed at a very attractive $209,900 and purchased for $410K in 4/03. This unit went to the bank in 1/09 and is a foreclosure. This unit started out priced at $260K and initially went into escrow on 3/31, coming back onto the market on 4/27. Hopefully it will close this time. Also finally going into escrow is Plantation 422, another REO originally purchased for $738K in 2/08 and listed for $469,900. Plantation hit the market at $599,900 and just kept reducing until it finally found a buyer. Even though it's been stripped of all appliances, this still looks like a good buy.

Brookfield continues to chip away at their developer's inventory with the sale of yet another unit, #11C which is their Mahina floor plan. If you've been to Nihilani recently, this unit was the one being used as the showroom. You'll now find them downstairs in 11A, a 2 bedroom, 2 bath Moana floor plan listed for $620K. 11C, which is their largest model, closed at $675K. You'll also see this unit under price changes as it was previously unrealistically listed at $799,200 before being adjusted downward to reflect current market conditions.

Ka'iulani 48, purchased for $1,502,610 and optimistically listed for $1.799M expired after 309 market days. This unit started out at $1.9M in 1/08 reducing to $1.799M before it was withdrawn in 8/08. It came back on the market the same month at the same price which is where it stayed the entire 306 days it was listed. It's pretty apparent this unit is not going to sell for that price in this market.

Hanalei Bay Resort 2309/10 purchased for only $125K in 11/84 expired after 306 days. This unit started out at $650K in 8/08, and made one price reduction to the present list price of $550K in 12/08. If you want to sell in today's market, and you're serious about doing so, you must be prepared to reduce and reduce again if after ample market exposure, you're unit has not attracted any attention. Either that, or you may prefer to withdraw your property and wait for the market to turn.

Price changes are next, starting with Mauna Kai 5, which reduced from $350K to $340K as a short sale. Purchased in 11/04 for $431,650, this condo started out at $499K in 4/08 and has made several price reduction over the last 456 days. Puamana 24A, purchased for $605K in 12/05 reduced from $385K to $370K. The last price reduction is the developer's Nihilani 11C that corrected from $799,200 to $675K as it sold.

Now onto your Princeville home update. I happy to report we have no new listings and only two that came back on the market.

Copyright 7/5/2009 by Hawaii Information Service

BACK ON THE MARKET
223822 RS A 62 4-5-4-13-6 FS $646,050 3695 Kaweonui Rd 11,121 sqft 2,492 4/2
217234 RS A 115 4-5-4-19-2 FS $1,475,000 5074 Napookala Cir 23,703 sqft 3,138 4/3.5

EXPIRED
189321 RS X 902 4-5-4-20-33 FS $1,150,000 3975 Punahele Rd 9,979 sqft 1,960 3/2.5
206177 RS X 528 4-5-4-9-55 FS $1,250,000 5331 Honoiki Rd 10,689 sqft 2,554 3/3

PRICE CHANGES
222647 RS A 97 4-5-4-16-18 FS $729,000- 4060 Kaa'humanu Pl 11,792 sqft 2,364 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.

Have a great week and don't forget to call or email before you buy or sell so you have your facts straight!

Aloha Elaine

PMRF fireworks with the moon behind.

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,

Wednesday I reported that PMRF was opening the base to the Community for a family oriented fireworks event on Thursday July 2nd from 5PM to 10PM. If you missed it this year, I thought I'd pass on some photos so you could see the fireworks with the moon in the background. It was quite spectacular.

This looks like it will be an annual event, one I highly recommend. There was plenty of ono food, live music, fun events for the keiki, lots of good friends and of course, the highlight of the event, the fireworks. These photos were taken with my cell phone and are actually a poor representation of the actual event. Plan to come next year for a good time.

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!

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Aloha,

If you want to kick off your extra long weekend with fireworks, head on out to the Westside and PMRF (Pacific Missile Range Facility) for a "pre-holday" celebration and fireworks on Thursday July 2rd. Since all government employees have Friday the 3rd off, the base is opening it's doors to the Community for an evening of fun and celebration from 5 PM to 10 PM on the 2nd. This past Saturday, while speaking at the Military Appreciaton Day, "Capt. Aaron Cudnohufsky, commanding officer of the Pacific Missile Range Facility at Mana, expressed his appreciation to the county, its leaders and people.

"It is important to have support, and we thank you for supporting us," Cudnohufsky said. "We invite the people to PMRF on July 2 starting at 5 p.m. to enjoy the Fourth of July. It's just a small way the base tries to give back to the community because we cannot do what we do without you."

There will be food, games for kids, various displays and vendors and of course, fireworks to get your holiday weekend off to a perfect start. Come on out and join in the fun.

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,

If you want to kick off your extra long weekend with fireworks, head on out to the Westside and PMRF (Pacific Missile Range Facility) for a "pre-holday" celebration and fireworks on Thursday July 2rd. Since all government employees have Friday the 3rd off, the base is opening it's doors to the Community for an evening of fun and celebration from 5 PM to 10 PM on the 2nd. This past Saturday, while speaking at the Military Appreciaton Day, "Capt. Aaron Cudnohufsky, commanding officer of the Pacific Missile Range Facility at Mana, expressed his appreciation to the county, its leaders and people.

"It is important to have support, and we thank you for supporting us," Cudnohufsky said. "We invite the people to PMRF on July 2 starting at 5 p.m. to enjoy the Fourth of July. It's just a small way the base tries to give back to the community because we cannot do what we do without you."

There will be food, games for kids, various displays and vendors and of course, fireworks to get your holiday weekend off to a perfect start. Come on out and join in the fun.

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,

Can't believe it's almost the fourth of July! Time certainly flys when there's so much to do and so little time to do it. I enjoyed a week in Puhi house / cat sitting for friends at their Villas of Puali condo. Although technically a condo, these units are configured as duplexes and are more like a house, complete with a two car garage, and a 3 bedroom 2.5 bath 2 story residence. There's also a single story model with 3 bedrooms and 2 baths that is quite nice. There are several on the market ranging from $394K to $420K. My friends were fortunate enough to get the second last condo on the street. It's very quiet down there, they have great mountains views and even a peek of the ocean from upstairs. Location in key in this complex as some of the condos on the cul de sacs tend to look out towards one another leaving you with the feeling of living in a fish bowl.

One of the nicer ones is the single story unit with 3 beds/ 2 baths for $394K. It's beautifully upgraded with trayed ceilings, porcelain tile throughout the entire unit, and granite countertops in both bathrooms. If you're interested in a more central living situation, I like the "Villas." I had my car serviced when I was there, had a follow up eye doctor appt and went to Costco to buy dinner (their rotisserie chickens are the best on the Island) none of which took more than 5 minutes to get to my destination. And when I had to drop a car off at the airport for my incoming friends, I drove there, dropped it off and took the bus back to Kukui Grove and walked home. No problem.

You can't beat it for convenience but anyone who knows me knows I'm a North Shore girl and I'm happyt to be back at home at my computer with my ocean views and wonderful trades. On to your update:

Copyright 6/28/2009 by Hawaii Information Service

NEW LISTINGS
225138 T A 5 4-5-3-6-22-40 FS $1,825,000 Kaiulani Of Princeville #40 2,430 #40 3/3.5

BACK ON THE MARKET
209061 T A 432 4-5-4-12-2-6 FS $450,000 Hale Moi #106 1,033 #106 2/2

CONTINGENT SALES
209244 T C 454 4-5-3-6-22-63 FS $894,000 Kaiulani Of Princeville #63 1,901 #63 2/2.5
223488 T C 66 4-5-4-15-21-30 FS $349,000 Sandpiper Village I #130 1,042 #130 2/2

SALES
210999 T S 355 4-5-4-12-10-42 FS $499,000 Emmalani Court #525 1,456 #525 2/2
SOLD 6/25/2009 for $475,000 (CNV) DOM 355

EXPIRED
219363 T X 180 4-5-4-5-18-68 FS $449,000 Puamana #19B 1,660 #19B 3/2

WITHDRAWN
211530 T W 145 4-5-4-12-11-24 FS $1,795,000 Puu Poa #210 1,700 #210 2/2

PRICE CHANGES
214620 T A 320 4-5-3-6-22-39 FS $1,250,000- Kaiulani Of Princeville #39 2,479 #39 3/3
222233 T A 23 4-5-4-5-39-45 FS $265,000- Cliffs At Princeville #2205 917 #2205 1/2
224707 T A 13 4-5-4-12-2-16 FS $339,000- Hale Moi #116 1,033 #116 1/2
221962 T A 111 4-5-4-5-18-30 FS $385,000- Puamana #8C 1,532 #8C 2/2
220097 T A 162 4-5-4-5-13-3 FS $424,000- Kamahana #3 1,732 #3 2/2
218778 T A 205 4-5-4-5-18-60 FS $425,000- Puamana #17A 1,312 #17A 2/2
220368 T A 151 4-5-4-5-39-42 FS $445,000- Cliffs At Princeville #2202 917 #2202 1/2
215869 T A 289 4-5-4-5-23-16 FS $469,900- Plantation At Princeville #422 1,318 #422 3/3
218310 T A 160 4-5-4-12-5-9 FS $799,000- Pali Ke Kua Incr I, ii, iii #109A 717 #109A 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.

As you can see, there's only one new listing this week, which to me, is good news, given the number of listings currently on the market. 153 to be exact, not including the fractional offerings. Ka'iulani 40 is new on the market listed at $1.825K after being purchased for $1,772,090 on 2/07. This unit joins the other 22 units currently available in Ka'iulani. Take a look:

Copyright 6/28/2009 by Hawaii Information Service

221046 T A 107 4-5-3-6-22-64 FS $900,000 Kaiulani Of Princeville #64 1,738 #64 2/2.5
212581 T A 376 4-5-3-6-22-61 FS $975,000 Kaiulani Of Princeville #61 1,738 #61 2/2.5
207166 T A 507 4-5-3-6-22-59 FS $995,000 Kaiulani Of Princeville #59 1,892 #59 2/2.5
206788 T A 507 4-5-3-6-22-70 FS $995,000 Kaiulani Of Princeville #70 1,781 #70 2/2.5
206220 T A 510 4-5-3-6-22-67 FS $1,049,000 Kaiulani Of Princeville #67 1,781 #67 2/2.5
224638 T A 18 4-5-3-6-22-76 FS $1,200,000 Kaiulani Of Princeville #76 1,738 #76 2/2.5
214620 T A 320 4-5-3-6-22-39 FS $1,250,000 Kaiulani Of Princeville #39 2,479 #39 3/3
218646 T A 208 4-5-3-6-22-51 FS $1,749,000 Kaiulani Of Princeville #51 2,443 #51 3/3.5
218650 T A 208 4-5-3-6-22-52 FS $1,749,000 Kaiulani Of Princeville #52 2,479 #52 3/3
217907 T A 216 4-5-3-6-22-27 FS $1,795,000 Kaiulani Of Princeville #27 2,864 #27 3/3.5
215271 T A 307 4-5-3-6-22-48 FS $1,799,000 Kaiulani Of Princeville #48 2,479 #48 3/3
225138 T A 5 4-5-3-6-22-40 FS $1,825,000 Kaiulani Of Princeville #40 2,430 #40 3/3.5
221745 T A 107 4-5-3-6-22-29 FS $1,975,000 Kaiulani Of Princeville #29 2,864 #29 3/3.5
218644 T A 208 4-5-3-6-22-11 FS $1,995,000 Kaiulani Of Princeville #11 2,864 #11 3/3.5
207615 T A 483 4-5-3-6-22-9 FS $2,100,000 Kaiulani Of Princeville #9 2,864 #9 3/3.5
210971 T A 226 4-5-3-6-22-10 FS $2,150,000 Kaiulani Of Princeville #10 2,864 #10 3/3.5
214648 T A 325 4-5-3-6-22-2 FS $2,195,000 Kaiulani Of Princeville #2 2,843 #2 3/3.5
217582 T A 233 4-5-3-6-22-18 FS $2,349,000 Kaiulani Of Princeville #18 2,864 #18 3/3.5
221506 T A 91 4-5-3-6-22-17 FS $2,399,000 Kaiulani Of Princeville #17 2,864 #17 3/3.5
219806 T A 170 4-5-3-6-22-6 FS $2,465,000 Kaiulani Of Princeville #6 2,861 #6 3/3.5
220019 T A 132 4-5-3-6-22-20 FS $2,650,000 Kaiulani Of Princeville #20 2,864 #20 3/3.5
221617 T A 92 4-5-3-6-22-16 FS $3,100,000 Kaiulani Of Princeville #16 2,843 #16 3/3.5

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

Hale Moi 106, which sold for $485K in 10/05 is back on the market at $450K after expiring. It has been on the market 432 days and is priced well above other units, as you'll see later in this report. We have two new escrows this week, starting with Ka'iulani 63 listed at $894K which is well below the $975K it sold for from the developer in 3/08. This property is agent owned and listed. Sandpiper 130, listed at $349K also went into escrow. This unit last sold for $238K in 6/03. Nice to see some more escrows open up.

Emmalani Court 525 sold for $475K with a list price of $499K. This unit sold for $400K in 1/03 and started out at $675K when it was first listed.

Puamana 19B, another agent owned and listed unit, which was purchased for $325K in 10/03 expired after 180 market days with a list price of $449K. Pu'u Po'a 210, listed for $1.795M was withdrawn after 145 market days. This unit last sold for $338K in 5/99.

Price changes are the last item of interest, starting with Ka'iulani 39 which reduced from $1.35M to $1.25M. This unit sold for $1,503,600 from the developer in 3/07. Cliffs 2205, purchased for $425K in 10/06 reduced from $275K to $265K and is a short sale. Hale Moi 116, purchased for $459K in 10/04 is a short sale which reduced from $369K to $339K. This unit is just slightly less than the upstairs unit, 216, which has been totally remodeled and is listed for a competative $345K. Although 116 advertises the ability to expand with a loft bedroom, I have never seen a loft in the downstairs units...only in the upstairs units. 216 does have a loft in the living area which has been used as the bedroom by the recent tenant. You may recall, 216 is my listed and at $345K, is not a short sale.

Next up is Puamana 8C which reduced from $399,900 to $385K. This seller has plenty of room as the unit was purchased in 7/88 as a leasehold for $95K and converted to fee simple in 5/00 for $35,700. Kamahana 3, purchased for $180,500 in 4/99 reduced from $442K to $424K. Puamana 17A, which last sold for $320K in 3/04 reduced from $435K to $425K. Cliffs 2202, purchased for $107K as a leashold in 5/88 and converted to fee simple for $20,500 in 11/91, reduced from $495K to $445K. Plantation 422, a bank foreclosure, took another price reduction down to $469,900 from $499K. This unit sold for $738K in 11/05 and was taken over by the bank on 6/08. Our last reduction is good old Pali Ke Kua 109 which continues its very slow price decline with another $500 reduction down to $799K. That's it for this month. Now on to your Princeville home update:

Copyright 6/28/2009 by Hawaii Information Service

NEW LISTINGS
224862 RS A 4 4-5-4-13-63 FS $650,000 3737 Albert Rd 10,665 sqft 2,219 3/2
225252 RS A 3 4-5-4-21-10 FS $989,000 3836 Kaweonui Rd 10,018 sqft 2,016 3/3

BACK ON THE MARKET
222745 RS A 89 4-5-4-23-35 FS $647,000 3793 Moae Pl 6,386 sqft 1,651 3/2

WITHDRAWN
214432 RS W 320 4-5-4-21-5 FS $998,000 3722 Albert Rd 13,401 sqft 2,218 3/2
225130 RS W 5 4-5-4-15-3 FS $1,395,000 3979 Kamehameha Rd 10,772 sqft 3,558 5/3.5

PRICE CHANGES
224336 RS A 37 4-5-4-23-38 FS $540,000- 3812 Iluna Pl 6,895 sqft 1,310 3/2
220147 RS A 151 4-5-4-22-10 FS $675,000- 4030 Kawaiala 10,614 sqft 1,710 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.

Saturday was Military Appreciation Day, an event sponsored in part by the Sons of Hawaii Motorcycle Club, and Kauai Harley Davisdson. One of the events is a motorcycle ride that starts at the Puhi Harley Davidson store, then proceeds out to the Veteran's Cemetary in Hanapepe before returning to the store and numerous events in the field behind the store. This year about 85 to 90 motorcycle riders came out for the ride and ensuing activities. It was great fun for a wonderful cause filled with camaraderie. The rally is $20 and all funds go directly to support families of Kauai armed forces personnel who are deployed to stations overseas. If you are here around this same time next year, check with the Puhi Harley Davidson store for details. Rent and Harley and join the ride.

If you want to start your 4th of July celebration early, Captain Aaron Cudnohufsky, commanding officer of PMRF invited the public to come out to the base on Thursday, July 2nd starting at 2 PM to enjoy the day which will culminate with fireworks in the evening. We went last year and enjoyed the displays, the food, all the people, and especially the fireworks. Enjoy your long weekend! Don't hesitate to call or email for the facts anytime - before you buy or sell!

Aloha Elaine

Even on cloudy days the mountains are magnificent!

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!