Princeville fountain greeting you as you come home
Price your home correctly, and sell it fast–at least that was the case with two homes last week in Princeville, Kauai. One was priced at $590,000, 3bd, 2ba, and went contingent within 18 days. The other priced at $499,000, 2bd, 2ba, and only lasted 8 days. Both of these homes had multiple offers on them, and one went above the asking price. (These properties are not sold yet, only contingent.)
The lower end price point offers a great opportunity for people to buy a piece of Kauai without spending their life savings on it. I get people asking about these types of properties, but they are not proactive. I can’t emphasize enough to get pre-qualified or pre-approved before you start looking at properties. You don’t want the perfect property to pop up, and miss out because you are not ready financially. The lower price point is not for people thinking about buying, it’s for people waiting to buy.
We have multi million dollar properties in the same general area of these two example properties. These two properties were the buzz that everyone was talking about. Everyone wanted to preview them, and everyone wanted to find a buyer for them. That tells me that the so called deals are coming around less and less. Agents knew these two would go fast, and they all wanted a piece of the action.
In my opinion, the bottom has hit and we are climbing out of the deep hole. Others might not see things as I do, and therefore buying a less expensive home gives them a peace of mind. In my opinion, buying a second home or a primary home in Kauai is a smart investment. We have gone through five long years of decline, and that alone can wear a person down. Five years can make a person feel uncertain, and scared. It will take some longer than others to get back into real estate. Some need time to believe things are better. Unfortunately, time is not on your side when it comes to buying a low cost home in Princeville.
Mahalo, Joseph W. Gill (RS)