Kauai Real Estate, Kiahuna Golf Village Lot, National Real Estate News

Kauai Real Estate SOLD and NEW listings Island Wide! Add comments

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Soon To Be Listed: an almost half acre Kiahuna Golf Village vacant lot, last large lot available. $749,000 Contact Lynda Gill for more information 808-346-0056

Kauai Real Estate
Did you know…use “2020” and not “20” when signing your documents?  I was at a signing with some clients last week and the escrow officer said that if you write 1/1/20 someone can come along and change it to any year in 2000.  On all spaces she had my clients write out the year.
For a complete list of everything that Sold, was Just Listed or went into Escrow for the last week on Kauai click here: Kauai Real Estate sales February 17 to 23rd 2020.

Poipu Beach Real Estate- I’m excited to announce that I will be listing the last large vacant lot in Kiahuna Golf Village.  This corner lot is massive, just under half an acre at 21,101 square feet.  The topography and size of this level lot offer a multitude of building possibilities.  List price will be $749,000.
For a complete update on the Poipu Beach Market click here: Poipu Beach Current Market Analysis

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SOLD! Unit #440 at the Kiahuna Plantation. Sold Price: $105,000 (LH) Cash sale. Click on the photo for details on this unit.

Kiahuna Plantation Real Estate- I Listed and Sold Kiahuna Plantation unit #440 for $105,000 (LH) list price was $115,000 (LH).  This ground floor unit is located in building 42 and with the sale of this property the bar has been raised to $129,000 (LH) for the starting price at the Kiahuna.
For all the news click here: Kiahuna Plantation Current Market Analysis

Kauai Making National News With Idaho Investigation
“Where Are The Children?”  That is what a handmade sign reads that someone posted on a speed limit sign on Kaumualii Hwy in Lihue.  It refers to Lori Vallow who, with her husband Chad Daybell, is making national news and Kauai is now in the thick of it.

Lori Vallow is the mother of a 17 year old girl and a 7 year old boy, both children have been missing since September.  Lori had a court order from Madison County, Idaho to produce her two children by January 30th.  Instead she and her new husband came to Kauai in December, 2019 and rented a place at Villas On The Prince in Princeville where Lori was arrested last week by KPD.  Her husband Chad Daybell has not been charged and is free while Lori is in a Kauai cellblock waiting for her extradition hearing set for March 2nd, pleas to lower her $5 million dollar bail were denied.  The trial will be held in Idaho where Vallow is facing criminal charges.

The story of these two has been all over our newspapers and has been the talk of the community on the North Shore where I’m told there’s more of the “Where Are The Children” signs.  Residents there are surprised these two have been here as long as they have and some have confronted them. One was a worker at Villas On The Prince who was worried that their stay would negatively impact the complex; she said she asked the couple where the children were when they arrived.

Princeville Resort To Close For 16 Months
Starting May 1 of this year The Princeville Resort will be closed for at least 16 months for renovations and during that time it will also rebrand itself.  It will reopen in November 2021 as “1 Hotel Hanalei Bay”.

The resort will be operated by SH Hotels and Resorts which is a subsidiary of Starwood the current operator.   Its design outlines 252 rooms, including 51 suites, a wellness center, an 18,000 square-foot spa and fitness center, and five food and beverage outlets.
The resort will be advertised as a “wellness resort” and a “sanctuary” with locally sourced and sustainable food from on-site gardens.

National Real Estate News
Existing-home sales declined in January, continuing a fluctuating pattern of monthly increases and declines, according to the National Association of Realtors. Significant declines in the West region dragged down nationwide numbers, with the other three major U.S. regions reporting marginal (or no) changes last month.

Total existing-home sales decreased 1.3% from December to a seasonally-adjusted annual rate of 5.46 million in January. However, for the second straight month, overall sales substantially increased year-over-year, up 9.6% from a year ago (4.98 million in January 2019).

The median existing-home price2 for all housing types in January was $266,300, up 6.8% from January 2019 ($249,400), as prices increased in every region. January’s price increase marks 95 straight months of year-over-year gains.

Lawrence Yun, NAR chief economist, stated that mortgage rates have helped with affordability, but it is supply conditions that are driving price growth.    According to Freddie Mac, the average rate for a 30-year, conventional, fixed-rate mortgage decreased to 3.62% in January, down from 3.72% in December. One year ago, the commitment rate was 4.46%.

Regional Breakdown:
January 2020 existing-home sales in the Northeast saw no movement, recording an annual rate of 730,000, which is up 7.4% from a year ago. The median price in the Northeast was $312,100, up 11.5% from January 2019.

Existing-home sales increased 2.4% in the Midwest to an annual rate of 1.29 million, which is up 8.4% from a year ago. The median price in the Midwest was $200,000, a 5.4% increase from last January.

Existing-home sales in the South grew 0.4% to an annual rate of 2.38 million in January, up 11.7% from a year ago. The median price in the South was $229,900, a 6.3% increase from this time last year.

Existing-home sales in the West fell 9.4% to an annual rate of 1.06 million in January, an 8.2% increase from a year ago. The median price in the West was $393,800, up 5.2% from January 2019.

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