Nov 13, 2023 | Island News, Reports
Find the monthly sales data, inventory, and days on market for the St. Croix, USVI real estate market! We have downloadable Coldwell Banker real estate reports — available below for each category: Homes & Condos, Condos, Homes, and Land!
If you are not familiar with with the implications of the data, please give us a call or email us directly with any questions. We are Accredited Buyer’s Representative (ABR) and Seller Representative Specialist (SRS) and have the experience and local knowledge to help you in every step of the process. We can help you narrow down neighborhoods based on your priorities. We can also advise you on the market trends in your desired neighborhoods.
Open reports by clicking on links below:
Homes & Condos – October 2023 Area Report
Homes – October 2023 Area Report
Condo – October 2023 Area Report
Land – October 2023 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
Nov 13, 2023 | Island News
Are you thinking of moving your business to St. Croix, or beginning a new business on island? Should you lease or buy an existing building, or purchase land to build what you envision?
The location of your business will determine how convenient and cost effective it is to operate and how accessible it is to the public. These will be key factors in your decision making, along with zoning of course. As these examples of 6 Company St and 28 Diamond show, a downtown Christiansted property is perfect for a retail or restaurant endeavor, or small office space. It’s a popular location for shops, restaurants, and professional offices. The land parcel would be a great location for a business that needs to be close to busy streets, the airport, and near the deep water container port. These are two very different locations for very different types of businesses.
If you would like to discuss more about this and look at commercial listings on St. Croix, please contact us. We are experienced realtors who also represent buyers and sellers with commercial real estate needs.
For more about zoning designations on properties, see our Q&A on this subject here: https://chrisandchristiepowers.com/zoning-codes-2/
Oct 23, 2023 | Island News
Mortgage rate is an important topic for many home buyers and also for those looking to refinance their property. Many are keeping a close eye on the trajectory of interest rates as they plan their real estate purchase.
Freddie Mac started recording mortgage rates in the US in 1971. The median 30-year mortgage rate is 7.41% since the April 1971 according to an article from US News & Reports. The fluctuations from historic highs and historic lows during this period has been dramatic. According to Bankrate’s recent article, “Historical mortgage rate trends can give you a sense of how economic conditions influence the rates available on the market today. From the 1970s to present, mortgage rates have fluctuated up and down. Overall, the annual average 30-year mortgage rate has trended downward since 1972, according to Freddie Mac’s Primary Mortgage Market Survey.”
To learn more about historical mortgage rates over time, we highlighted a few articles that would be helpful to understand:
- what have the mortgage rates been historically?
- what factors effect mortgage interest rates for homebuyers?
- what factors effect mortgage interest rates for home refinancing?
The articles are:
Bankrate’s Current and historical mortgage rate trends: 1970s to 2023
US News & Reports’ Historical Mortgage Rates: See Averages and Trends by Decade
Oct 19, 2023 | Island News
Condé Nast Traveler announced in October the results of its annual Reader’s Choice Awards with the U.S. Virgin Islands recognized as a top island in the Caribbean.
The USVI has been recognized by other publications this year. Here are a sample:
- Condé Nast Traveler as a ‘Best Places to Go in 2023
- Travel + Leisure has ranked USVI as one of its 50 best 2023 destinations in its For Beach Vibes
- Yahoo! Life listed the USVI as one of the top 10 tropical islands to get to in under three hours from the U.S. mainland
- Travel Magazine voted USVI as the Best Caribbean Cruise Destination for 2023
- Frommer’s gave the territory top billing in its annual Best Places to Go in 2023
- Condé Nast Traveler editors voted USVI as having the Best Airbnb in the Caribbean
There is no better time than now to visit St. Croix! If you’re still considering what homeownership in the Caribbean can
look like for you, let us help you navigate this process. Our current listings include several exceptional properties sure to have you envisioning life’s next chapter living in America’s Paradise. Give us a call to discuss your options and schedule a showing or two; we’d love to hear from you!
Oct 12, 2023 | Island News
On St. Croix, breadfruit is something very familiar to us. We see beautiful breadfruit trees on island, and breadfruit used in restaurant menus, snacks, and cocktails. We love breadfruit and all of its uses. According to a recent Forbes article, “With its immense potential for food resilience and security, breadfruit or Artocarpus altilis is being celebrated as a staple crop with the opportunity to boost global climate smart sustainable development.” This article highlights examples of how breadfruit is being used in products and menus (such as in an episode of the National Geographic series, Gordon Ramsay: Uncharted). St. Croix’s Mutiny Island Vodka which is made of a combination of breadfruit and Caribbean rainwater is also featured. Read the full article here.
Nutritionally, breadfruit is an energy-rich food and a good source of complex carbohydrates, fiber, vitamins, and minerals. Here on St. Croix, USVI, it is an ingredient common in West Indian and Latin cuisine. It has potato-like consistency when cooked, and a good source for gluten-free and vegetarian recipes.
According to The National Tropical Botanical Garden, breadfruit is an important component in traditional agroforestry systems and can be grown with a wide range of plants. Trees begin to bear fruit in three to five years, producing for many decades. The trees require little attention or care, producing an abundance of food with minimal input of labor or materials, and thrive under a wide range of ecological conditions. The ethnobotanist Diane Ragone from the NTBG said in a NPR interview, “compared to other food staples, these fast-growing perennial trees require far less labor, fertilizer and pesticides than crops like rice and wheat. They’re also more productive. A single tree yields an average of 250 fruits a year and can feed a family for generations.
For some ways to use breadfruit in your meals, take a look at the Cruzan Foodie’s blog article about how she uses breadfruit!
Sep 26, 2023 | Island News
Art studio & boutique meets after school program that strives to help the children of the St. Croix community discover how unique they truly are! Unique by Maria Banwaree Art Studio & Boutique was founded in October 2019 with a primary goal to provide children with the help and encouragement needed to learn about who they are. Owner Maria Banwaree used to work with the children at her church in various capacities like art and reading and wanted to reach children beyond the holy sanctuary.
The first phase of the business was to build out the artist studio. In doing so, Banwaree helped students focus on mental health through the arts. “When you embrace who you are, that you are a unique and particular creation, everything works better in life,” said Banwaree. A secondary need became apparent through this first phase — the homework and task room. According to Banwaree, students would often need assistance with their homework when they participated in the artist studio. “Creating this room helped to fill the gap for a much-needed service, and it all went hand in hand.” The six-week summer camp is full of fun and learning where children can develop their artistic sides in the following areas: arts and crafts, painting, jewelry, beading, reading and writing, Spanish classes, agriculture, and much more. “At the end of the six weeks, the kids are completely transformed with more confidence and stronger belief that they are capable of accomplishing whatever they put their minds to.”
The global pandemic resulted in a shift in the business. With schools closed and everyone sheltering in place, Banwaree started a boutique selling name-brand items like Michael Kors, Guess, Calvin Klein, and Coach. The boutique offers an array of items including handbags, luggage, jewelry, women’s clothing, perfumes, candles, and books in English and Spanish. The boutique’s inviting atmosphere and top-notch customer service allow for a pleasant shopping experience for anyone who walks through its doors. Banwaree is quick to point out that the boutique is a complement to what she offers, with the studio being the true core of the business.
Be sure to check out the various events hosted at the studio. Embroidery and crystal candle-making classes are a few of the options available regularly, along with paint and sip classes and kid’s art classes. The studio’s first women’s retreat, I Am A Woman, was held on September 16, 2023. In collaboration with 506 Scents & Co., the retreat was geared towards helping women overcome their daily struggles, insecurities, and challenges by focusing on their mental and emotional well-being.
Unique by Maria Banwaree is located at 6 Company Street in downtown Christiansted and is open Monday through Friday from 10am to 6pm and Saturday from 10am to 7pm. Find out about their specialty classes and programs on their Facebook page at www.facebook.com/ uniquebyMB or by calling 340.473.1104.
Written by Anquanette Gaspard agaspard@cruzanfoodie.com
