Have you checked housing prices in your favorite zip codes lately?  You might be surprised to find homes in your price range that you never thought imaginable. If you’ve been waiting for the right time to buy that vacation home or dream home you never thought would be a reality—and your credit and cash have been spared from destruction—here are a few great reasons why the time to buy is now:

1.    The Lowest Mortgage Rates in Decades: Yes, you’ve heard this for the last couple of years. But who could have predicted interest rates under firmly under five percent? Low prices combined with unimaginably low interest rates could just make that “dream” a reality.

2.    I said it above and I’ll say it again, Home Prices are Amazingly Low. In desirable areas, where home prices are all but guaranteed to rebound, this is a great opportunity for the prepared buyer, or stock market-weary investor, to put his money.

Kauai is just such a place and no exception when it comes to great deals in real estate. Whether you are looking for an oceanfront condo in Poipu or a second home in Princeville, you’ll find the most up to date real estate listings on Kauai on our web site. No doubt you will be pleasantly surprised at the number of homes and condos that are within your budget.

3.    Distressed Properties are Starting to Move:  In Hawaii—where the real estate market  is said to be six months behind the mainland—we are seeing short sales starting to move, fewer foreclosures coming on the market as banks catch up, and even private estate auctions. But even more encouraging are the attractive homes and condos coming on the market at reasonable prices that aren’t distress sales.

4.    The Market is Starting to Stabilize: In a recent conversation with a local mortgage broker, I was told that appraisals are coming in indicating that we are now in a stable market, rather than declining market. This coupled with still low prices and incredibly low interest rates makes this the best buyer’s market we’ve seen in decades.

So if you’ve been thinking about investing your hard earned money in a second home or vacation home, take a look at your finances, check your credit, then log ontothe Sleeping Giant web siteto check out what’s available on Kauai. You may just find that your dream isn’t that far from reality.

Susan Higgins is a realtor associate with Sleeping Giant Sotheby’s International Realty on the island of Kauai. She can be reached susanh@sleepinggiant.com or 808-346-7900.

Kauai’s only daily newspaper, The Garden Island, has been in circulation since 1902 and is published by Kauai Publishing Company, a subsidiary of Lee Enterprises www.lee.net.  In addition to the daily newsprint copy, an online copy is also published daily on their website at www.TheGardenIsland.com.

This Friday, July 30th, The Garden Island will launch its new full size “Real Estate” section which will be published every Friday thereafter.  For those agents participating in the Real Estate section they will be able to feature their listings with color property photos, open house dates and times, along with their agent/office information.  The online edition will feature the same information, although electronically, with links to property MLS information, additional photos, and much more.  With a circulation of approximately 9,800 – 10,500 daily copies for the print edition, and the online site having nearly 2.7 million visitors from over 200 countries in 2009, this new Real Estate section of The Garden Island is sure to be an extremely valuable advertising/marketing tool for Sellers and a useful search tool for Buyers as well.

If you’re considering selling your Kauai property and want to work with an agent who is committed to featuring your property’s listing information, photos, and open house dates in the weekly Real Estate section of The Garden Island print and online versions, contact Kymry A. Perez (RA) at 808-635-1490 or Kymry@KymryPerez.com. 

I’ve received several emails and calls from clients interested in purchasing a lot in the newly developed Poipu Beach Estates subdivision which doesn’t surprise me since there is very little land inventory left in the Visitor Destination Zoned Area (VDA) of Poipu.  This subdivision is exceptionally nice and in an ideal location so close to the ocean, beach, shopping, restaurants, and the new Kukui`ula Village www.KukuiulaVillage.com. 

If you’ve been keeping an eye on the recent listings and sales at Poipu Beach Estates but haven’t purchased your lot yet, now is your chance to get one at the bargain price of $298,000!  Just back on the market today this is the only lot for sale under $300,000 and allows for a main residence and additional dwelling unit (ADU).  Don’t miss out on this deal because all the other listings start in the mid $300’s and go up to the high $700’s.  If you would like detailed information, photos, and video of this lot or if you would like more information about the Poipu Beach Estates subdivision call or email me today.  Kymry@SleepingGiant.com or 808-635-1490.   

Looking for a rental property on Kauai?  Searching on www.Craigslist.com, the popular website which offers free online classified advertising?  If so, you need to be aware of a not-so-new rental scam that’s recently targeted people looking to rent on Kauai.

Many buyers have shied away from short sales because of the lengthy, complicated and unpredictable nature of these transactions. However, starting in April regulations were put into place to speed up and better manage the process one must go through in order to take advantage of these opportunities. The HAFA Program, which took effect on April 5, 2010, provides servicer, seller and junior lien holder incentives for these transactions and is designed to simplify and streamline use of short sales and deeds-in-lieu of foreclosure. In light of this, I invite you to take a look at a couple of the many short sale opportunities currently available on Kauai.

One property I’ve been watching with interest for awhile is this small, livable one bedroom cottage on a large 3 acre lot. This property is located in the Omao area of Kauai, just minutes from quaint Koloa Town and the always sunny Poipu area. This property has tons of potential and is priced at more than $200,000 below assessed value at $499,000. If you are looking for land but are on a budget, this may be the one you've been waiting for:
http://www.kauaireale.com/Omao_Real_Estate/3-acres-split-into-2_211160.aspx

Lae Nani #114 is a Short Sale and definitely needs to be sold quickly.  The Sellers want out!!  Lae Nani is a very special project on the Eastside of Kauai and this unit is steps from the ocean and has beautiful views of ocean and pool.  This one-bedroom condo has recently been upgraded with slate flooring and beautiful furnishings.   There are very few full one bedroom oceanfront condos of this quality available for under $350,000. 

What does value mean to you? Is it getting the cheapest price for something or getting the best you can for the price?

With prices starting at $399,000 and even some short sale opportunities, this project offers exceptional values for a stunning oceanfront location! There are 8 different floor plans to choose from.

Take for example a long floor plan residence that just came on the market at $795k; an identical unit, albeit two floors above with a broader view, is listed at $1.249m. If the extra space is one of your objectives and you compare $795k against the upstairs unit on the one hand and other 2bed/3bath units of similar nature listed in the $900k range, you can see the owner of the $795k condo is putting out a clear signal to sell.

One-bedroom B condos are listed between $425k and $585k; they are nicely located and the maintenance fees are always lower for a one bedroom condo. There is a nice one-bedroom residence at ground floor facing the pool and gardens with its own lawn!

Do the numbers: This 2 bed/3 bath special end unit condo is available on the outer side of the property with a surprise ocean view and it is listed at $399k; the County assesses its value at $650k!

A standard 2/3 condo that is now on the market for $499k is another good example; it was originally purchased in 2006 for $850k. It has a nice view of the pool and garden areas. This is a sleeper of a great deal! 

When you look at a site plan of Waipouli Beach Resort or an aerial photograph you can see that is shaped like a horseshoe with the 8 buildings curving around the 2 acre pool area and opening up to the sea. In looking at condo numbers, those ending in even digits are on the inside of the complex looking at or across the pool area and toward or to the ocean, and the odd numbers are on the outside of the complex with partial mountain or ocean views and view of the historic coconut groves; some have surprise ocean views as well.

Let’s look at some of the “exclusive“ residences at WBR. There are deals here too!  Only 5 units enjoy the special ocean front design of Plan E. These extra large units – by an additional 300 sq ft over standard Plan D also offer 439 sq ft of lanai area! Banks of large windows and a freestanding kitchen add to the ambiance of these special residences that truly feel more like a home than a condo. Are they a steal-of-a-deal? Look at the list prices between $1.2m – 1.4m look at what you get for it – don’t forget the dramatic views – and see what the equation adds up to; a great value in an upscale oceanfront residence.

The extra-special “owner’s condo” is square-on ocean front and has soaring ceilings, a full-height glass wall between the living room and master bedroom, huge lanais off both bedrooms and the living area and special lighting, unique floor plan and specially selected granite exclusive to this unit. Priced at $2.5m, it might be seen as a value to those who are seeking a unique residence in a premier resort that is a standout.

Last but certainly not least are the six condotel units at Waipouli Beach Resort & Spa. These unique units satisfied the requirement for ADA compliant rooms at the condo-hotel. There is nothing else like them on the Island.  They are popular with travelers who are only here for a short stay or don’t plan to cook anyway. Equipped with under-counter fridge and coffer maker, they have just enough to get you started in the morning for your day of exploration and adventure! Priced between $200-300k they offer a rental rate that fluctuates between $165-255 per night and they are especially attractive purchases for the investor Buyer.

Where does you concept of value lie now? This exclusive resort condo-hotel property offers more amenities than any other condo-hotel resort in Hawaii. Along with the 2-acre soft-water pool and recreation area, there is elevator access to all floors, central AC in every condo, a hotel lobby complete with beautiful Koi pond and huge port-cochere.  In addition there is a first class restaurant and of course the spa facility.

The values are there in the listing prices and of course, you can always “make an offer”.

Waipouli Beach Resort & Spa – Kauai’s luxury condominium property in Kapaa, the heart of the island  www.waipoulibeachresort.com

Ten years ago people might have looked at the scrappy field across from Safeway and think that something should be done with that over-grown lot… But  to build a luxury mini-resort condominium development complete with acres of water features, ocean-front dining, a full-service spa and a hotel operation on site? It didn’t seem possible…

However, from this vision was born Waipouli Beach Resort & Spa, a four story 190-unit condominium property that officially opened its doors in January of 2007.  It added a new dimension to the repertoire of residential and vacation properties on Kauai.  Waipouli Beach Resort & Spa would set the bar for all others to follow and is as yet unequaled for its outstanding features, variety of amenities and unparalleled central location.

Location is everything.  The convenience of its immediate proximity to Kauai’s best shopping, dining and outdoor activities and the central location for exploring the north & south shores as well as the west side makes Waipouli Beach Resort the best choice.   Sleeping Giant Sotheby’s International Realty recently opened a satellite sales office on property and we welcome you to visit us and join us for a tour of this special place.

The entry to the property is both majestic and inviting: mature tropical trees and building-high palms were included as an integral part of the landscape design; welcoming visitors and residents into this private enclave nestled along one of the most pristine shorelines on Kauai’s east side.

The lobby is home to the full service Spa www.spabythesea.com ; Outrigger Resorts guest check-in desk www.outriggerwaipoulibeachresort.com; Guest services activities Concierge and Sleeping Giant Sotheby’s International Realty’s onsite office www.sleepinggiant.com .

Accommodations are exquisitely accented with warm Indonesian mahogany, cool Peruvian travertine and plush carpet. Superbly appointed gourmet kitchens feature Sub-Zero refrigerators, Wolf convection ovens with glass cook-tops, Fisher & Paykel dual-zone dishwashers and sleek granite countertops. There is elevator access throughout the property and all the units have central ac and full-size front-load washer/ driers.

The property boasts a heated soft-water “lazy river” pool that meanders over two acres of landscaped grounds where you can hide out in a waterfall grotto, take a ride down one of two flumed water slides or “chill out” in any of the three sand-bottom whirlpool spas. There is a “keiki beach” at one end of the pool, providing a safe “beach” experience for youngsters.

Landscaped walking paths invite casual strolls around the grounds and along the shore. Here you’ll find one the Island’s newest dining experiences – Oasis on the Beach - featuring delicious menu selections for lunch and dinner as well as popular music venues in the evenings – oceanside! Nearby you can join up with the Eastside Coastal Bike Path for an oceanfront run or bikeride.

The resort offers 190 condominiums in five different floor plans ranging from an 823 sq. ft. 1 bedroom/ 2 bath unit to a 1465 sq. ft. 2 bedroom/ 3 bath floor plan. There are also 6 ADA compliant hotel suites.

The variety of size, layout, location, views and price range assure that there is literally “something for everyone” at this beautiful mini-resort. Prices range from $220,000 for a hotel suite to over $2,000,000 for an absolute oceanfront condominium residence.

Whether you plan to use your Waipouli Beach Resort & Spa home as a vacation rental or a full time residence, there is a fit for you.  Most owners rent their condos out through one of the many options for vacation rental management and/or use them as often as they can during the year.

Imagine watching the beautiful island moonrise from your balcony, or taking off in the morning to catch an early morning horse ride to hidden waterfalls, back in time for a delicious lunch at Oasis and out again on another outdoor adventure… while your friends are back home turning up their furnace! Waipouli Beach Resort & Spa will provide you with the amenities, services, convenience and low-key luxury that you wish for in your Kauai home-away-from-home. 

 

Please feel free to contact us at any time for more information on this wonderful property. We would be happy to host you, your friends & associates or your Realtor on a tour of the Waipouli Beach Resort & Spa. Come in, have an espresso and some fruit and get to know the aloha spirit of Kauai’s premier condominium property. 

Contact Michael Olsen, R 808-651-1384 /

Paul Kyno, RA 808-651-3287 or call 808-821-1564