Nathan W. Smith

Broker (VP)

My Blog

Fix the Roads

1/31/2015

Here is some feed back form Rory Enright  General Manager for Princeville I association regarding the article in the Garden Isle about the Princeville roads. Interesting information.  You cannot always believe what you read in the papers.

 

Here is my response to Jeff Stone's comments in today's TGI article:

Let’s get the facts straight …..

Comments attributed to Jeff Stone in today's “Fix the Road” article deserve to be challenged on many levels. Not only are his comments factually wrong, but they portray a remarkable degree of disrespect for the Princeville at Hanalei Community Association (PHCA), the direct neighbors to his planned new development.

Yesterday’s event was a protest focused exclusively on a .1 mile segment of Ka Haku Road owned by Princeville Development, LLC (Jeff Stone). A 1993 contract between Princeville Corporation and PHCA is very specific that the road segment was to be turned over to PHCA after the Westin’s completion in “good condition, suitable for driving, and free of defects….” In 2013, Princeville Development attempted to convey this road segment without making the required repairs. PHCA, refused to take it in that condition. Since then, PHCA has made many attempts to resolve the issue. Princeville Development has been non-responsive.

To put things in perspective, PHCA owns 10.5 miles of roads including 1.7miles of Ka Haku Road. PHCA has spent over $1 million just on rebuilding the western 1 mile of Ka Haku Road closest to the St. Regis in the last few years. Princeville Development owns the .1 mile (discussed above) and controls another .3 miles of upper Ka Haku. They have made no significant repairs to either since Mr. Stone acquired the assets of Princeville Corporation.

In final, I'd also note that PHCA does not owe Princeville Development any money. Nor has Mr. Stone ever offered PHCA any funds for fixing the segment of road in question.
Rory Enright, General Manager
Princeville at Hanalei Community Association

P.O. Box 223277, Princeville, HI 96722
Office: (808) 826-6687
Direct: (808) 977-8714
Patrol: (808) 826-6181
Fax: (808) 826-5554
E-mail: gen_mgr@pcaonline.org
Web: www.princevillecommunity.com

Be Safe This Super Bowl Sunday

1/31/2015

 

Well the biggest game of the year is upon us.  Who are you rooting for?  The Seahawks have grot a great D but you can never underestimate the Patriots.  There will be a ton of parties and celebarations going on and I hope your Super Bowl party is a ton of fun.  I just wanted to remind everyone to be safe out there.  Don't drink and drive.

The Hawaii Department of Transportation reminds the public to be safe and sober as they celebrate Super Bowl Sunday.

Police statewide will be conducting sobriety checkpoints and patrolling communities in search for impaired drivers, the department said in a press release.

“We all know that the biggest football game of the year is cause for celebration and fans around the state will probably be celebrating with alcohol,” HDOT Director of Transportation Ford Fuchigami said. “Just remember that, in Hawaii, nearly half of all traffic fatalities are because of alcohol impairment.

 

Have fun be safe I hope you win your Super Bowl pool.

 

Princeville Roads

1/28/2015

Princeville Roads

For residents on the North Shore of Kauai it was an exciting weekend. Some of the new buyers that have purchased part of Princeville along with the developer Jeff Stone were here to tour Princeville. A group of about 70-80 residents of Princeville gathered to protest the condition of the roads at the entry into Princeville. The Princeville roads have deteriorated to a point where they are become dangerous. The costs to fix and who is responsible for fixing them is in question right now so nothing is being done. I thought it was great to see the community come together to give a voice to an important issue. Below is the article link from the newspaper, good reading.

Fix The Road (Article)

The Prince Course Going Private

1/28/2015

The Prince Golf Course Going Private

Princeville Map

There are some big changes coming to the North Shore of Kauai.  The Prince Golf Course, one of the top golf courses in the state is going private.  There is a large development planned for Princeville and part of those plans is to turn the Prince Course into a private country club.  There are also plans to revitalize the polo fields and make a private beach club and build some very high dollar luxury homes and condos.  The Princeville airport has plans to extend the runaway and add additional hangers.  What does all this mean?  Well in my humble opinion it means that the secret is out.  The secret that once was, that the north shore of Kauai is the best place to live on this whole planet, now is being discovered by the masses.  Below is a link to an article from the Garden Island newspaper that lays out some of the master developer plans and what they want to do over then next few years.  Read the article and then let me know your opinion if this is a good thing or bad thing for Kauai.

Private Prince- (article)

Hawaii sees second-highest home-price appreciation in U.S.

9/22/2013

So as 2012 draws closer to an end, we look back at what could have been.  Well, there sure were a lot of opportunities to make some money in real estate especially in Hawaii. We bottomed out more than 1 year ago and although many would be buyers do not want to hear that, the numbers are showing that.  Remember the bottom of the market is an historical date and you only will know when the bottom was once you have passed it.  Well in my opinion, we have passed it and the trends are also saying the same thing.  What does this mean?  If you are thinking about buying don’t wait a second longer.  If you’re thinking about selling there may be brighter skies ahead.  Now this does not mean that the real estate market is back to where it was before the crash,  but we are headed there.  So if you don’t want to get left behind start researching how you can take advantage of this up swing which is happening  as we speak.  But don’t just take my word for it.  Check out the article below.

http://www.bizjournals.com/pacific/news/2012/12/04/corelogic-hawaii-sees-second-highest.html?surround=etf&ana=e_article

Home Prices Have Bottomed Out!

9/13/2013

Well, according to Zillow, home prices have officially bottomed out and we have turned the corner for the housing market. The housing market has seen home prices rise for 4 consecutive months.  Stan Humphries, chief economist at Seattle-based Zillow, noted that the housing market has shown signs of strength even though the job market remains weak, signaling that the housing market may be beginning to stand on its own two feet again.  This would be great news for the millions of home owners who have seen their home values plummet in the last 5 years. The home value index in the second quarter rose on an annual basis for the first time since 2007, increasing 0.2 percent compared with last year’s second quarter to $149,300, according to Zillow. This is really great news. Sellers should be optimistic that home values should continue to rise over the next 12 months and Buyers need to start to feel a sense of urgency. There has never been a better time to buy a home! Read full article.

Nathan W Smith BIC

Broker In Charge

www.luxurykauairealestate.com

808-651-9855

Make Your Offer Stand Out With a Love Letter

9/6/2013

As the real estate market continues to heat up, we are seeing more multiple offers on the really good deals.  Multiple offer situations can be very stressful. Buyers are not sure if they should offer over list price, change their offer to cash, or try to make it a quick close.  These are all good options, but another idea that won’t cost you a cent is to write a ‘love letter’.  Write a personalized letter to the Seller telling them how much you love their house and why.  You never know, this may be the one thing that puts your offer to the front of the line.  In my experience, most Sellers want to sell their home to sombody that will love it as much as they did.  So, if you find yourself having to out bid another buyer, put your best foot forward and try a love letter, it just might work.  Click here for more information on how to do this and other people’s experiences.

Kauai Home Sales Surge

9/1/2013

The writing has been on the wall for a while  but now we are starting to actually see the results.  The Kauai real estate market has been extremely busy for the last 6-9 months. Inventories are dropping and we are seeing prices start to creep up slowly. Pacific Business News gives some really interesting statistics for the month of April.  If you have been considering buying a home or 2nd home on Kauai, don’t wait too much longer or you may miss out; but don’t just take my word for it – read more about it on Pacific Business News.

Kauai Market Update

8/30/2013

Spring is almost over and Summer will be here before you know it.   We are seeing a huge shift in the market over here on Kauai.  The real estate market here is really heating up.  We are seeing huge decreases in the inventory, and pending sales, and sale are growing every month.  One of the biggest changes I am seeing is inventory in certain condo complexes or price points are getting low or disappearing all together.  For example the development I live in, in Princeville,  6 months there were 11,  2 bedroom units for sale,  now there are 0 (zero) for sale.   There were 6 homes for sale in Princeville below $600,000 now there are 0 (zero).  Another big change I am seeing is that the new listings that are coming on the market are coming on at a higher price point.  As we have worked through the majority of the distressed inventory the next set of Sellers are not willing to sell at the distressed level prices.   There are still some really good deals out there you just have to look a little harder to find them.  As always I am here to help let me know when is a good time for you to start looking for your own little slice of paradise.

Below are a couple good articles about the current trends and moods about Real Estate in America right now.

 
 

Rising Home Prices: Coming to a Market Near You

8/25/2013

Many experts are saying that the real estate market has hit bottom and that we are starting to see an increase in asking prices.  This seems to be a trend not just a blip in the market.  As more non distressed Sellers bring their homes on the market they are not listing them at the distressed price levels.  Sellers are beginning to realize that they can list their properties for more than the last sale and are able to get more as prices begin to rise.  One word of caution is that the Buyer out there is very savvy and has been tracking them market and is willing to pay more for a non distressed sale but no a whole lot more.  As the inventory continues to dwindle Buyers have less options and are having to pay a little more for want they want.  Another interesting trend is that rents are continuing to rise which is making a lot of potential buyers go ahead and jump into the housing market and buy something at these low prices and low interest rates.   Below is a great article detailing this and breaking it down by some of the larger Metro areas in the United States.  Good reading!!!

http://pro.truliablog.com/industry-2/rising-home-prices-coming-to-a-market-near-you-2/

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