Dec 13, 2022 | Reports
If you are considering home ownership on sunny St. Croix, there are some good news! There are a number of wonderful properties available on island now perfect for buyers to make a second home or a forever home! Recently the mortgage rates have been decreasing and The Federal Housing Finance Agency (FHFA) announced in November that for St. Croix the conventional loan limit for one-unit properties will be $1,089,300, and for FHA loans, it would be $472,030 (read more about this here). We encourage you to take a look at our latest Coldwell Banker area reports that compare recent and historical sales activity for all property types; single family homes, condos, and land. Whether you are looking for a move-in ready home, a fixer upper, or a new build, we can help you find properties that meet your needs.
The reports are available below. If you have any questions, please give us a call or email us directly. We would love to work with you find a paradise home on St. Croix. If you are interested in selling your home, we will be happy to work with you in every stage of the selling process!
Open reports by clicking on links below:
All Property Types – November 2022 Area Report
Single Family Homes – November 2022 Area Report
Condos – November2022 Area Report
Land – November 2022 Area Report
Note: The average sales price and the average days on market could be skewed greatly by only one sale or because of the small number of sales.
#stcroixusvi #usvirginislands #virginislands #realestate #realtor #coldwellbanker #caribbean #caribbeanhomes
Dec 12, 2022 | Island News
It’s great news to see the new loan limits for 2023 on St. Croix, USVI for conventional and FHA loans. The caps have raised which means more potential buyers will qualify. With the recently lower mortgages rates (it has for the last 4 weeks!) and the increased loan limits for the upcoming year, this means homes would be more affordable to buyers who qualify.
Conventional Loan Limits for St Croix
Units:
1- $1,089,300
2- $1,394,775
3- $1,685,850
4- $2,095,200
FHA Loan Limits for St. Croix
Units:
1- $472,030
2- $604,400
3- $730,525
4- $907,900
In addition, Freddie Mac reports the following national averages with mortgage rates for the week ending Dec. 8 (according to the recent NAR Magazine):
- 30-year fixed-rate mortgages: averaged 6.33%, continuing their fall from previous week’s 6.49% average. Last year at this time, 30-year rates averaged 3.10%.
- 15-year fixed-rate mortgages: averaged 5.67%, dropping from previous week’s 5.76% average. A year ago, 15-year rates averaged 2.38%.
For more information on mortgages on island, here are some links that will be helpful:
Schaffer Mortgage Corp: https://www.vimortgage.com/
Bank of St. Croix: https://www.bankofstcroix.com/
First Liberty Mortgage: https://www.firstlib.com/
#stcroixusvi #stcroix #mortgage #buyingestate #homebuying #coldwellbanker #realtor #realestate #homeloans
Dec 7, 2022 | QA
Published on our November 2022 Newsletter
Question: “What does RENE mean, and why is important to me?“
Chris’ Answer:
The Real Estate Negotiation Expert (RENE) certification is for real estate professionals who have taken classes to sharpen their negotiation skills. It gives us the tips and tools we need to be skillful advocates for our clients. In the classes and following information sent to us, we learn how to handle a wide range of situations, and how to sort out the competing objectives of the parties involved in a transaction.
Contact us if you are in the market to buy or sell your property on St. Croix. We are an experienced team who work with buyers and sellers. We would be happy to help in every step of the sales and purchase process.
For a list of our sold properties sold in 2021-2022, click here. Search for properties for sale here.
#realestate #realestateagent #realtor #coldwellbanker #islandhomes #caribbean #stcroixusvi #virginislands
Nov 30, 2022 | QA
Published on our November 2022 Newsletter
Question: “What does ABR stand for?“
Christie’s Answer:
The Accredited Buyer’s Representative (ABR®) designation is for real estate agents who focus on working directly with buyer-clients at every stage of the home-buying process. We have taken special classes focused on improving our skills and knowledge toward assisting home buyers. We receive ongoing specialized information and updates on the issues and trends facing home buyers.
Are you interested in purchasing a new home on St. Croix? Contact us, and we will be happy to help you find a home which fits your needs.
#realestate #realestateagent #realtor #coldwellbanker #islandhomes #caribbean #stcroixusvi #virginislands
