Jan 31, 2024 | QA
Question: “I want to buy a condo or house in the Caribbean. I have never been to St. Croix, what are the first steps to exploring St. Croix as a place to buy my dream home?”
Chris’ Answer: Since every island in the Caribbean is different, the first step is to gather information about St. Croix. We’d be very happy to talk with you to answer questions about the island or real estate, and send you listings so that you can begin learning about the real estate market here. On our website, you can do a search on St Croix listings, and read our blog articles about St. Croix. We also encourage you to take a look at our past newsletters (access them here). In each one there is real estate information and also news articles about our island which we find interesting.
Two great sites for St. Croix are Go To St. Croix (link here) and Visit St. Croix (link here). Although they are created with tourists in mind, you will learn so much by going through their many pages and seeing their wonderful photographs. They also have web cams so that you can see what’s happening on island in real time.
First published on our January 2024 Newsletter
Jan 16, 2024 | 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 – December 2023 Report
Homes – December 2023 Report
Condo – December 2023 Report
Land – December 2023 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
Dec 17, 2023 | 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 – November 2023 Area Report
Homes – November 2023 Area Report
Condo – November 2023 Area Report
Land – November 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
Dec 1, 2023 | QA
Published on our November 2023 Newsletter
Question: “What are the top 5 hidden costs of home buying?”
Chris’ Answer:
- Closing costs, prepaid fees, and other fees. Getting a loan costs money. Plan on paying for your loan to be processed along with an appraisal fee. Closing costs and prepaid fees generally range between 3% – 5% of the purchase price.
- Inspections. We feel an inspection by a licensed home inspector is key to any home or condo purchase. The owner will disclose anything of which they are aware, but an inspector will give you a full detailed report. For a home or land, you will want a survey done. Often an appraisal is needed.
- Association fees. Condos have HOA fees. Some homes do, too. These fees will be pro-rated for the year at closing.
- Maintenance, repairs, and decorating. Your monthly budget responsibilities after purchase could include landscaping, pool maintenance, pest control, garbage pickup, cable TV, and internet. Also, you will want to make your new home YOURS. So, budget for decor, paint, landscaping, furniture, or anything else you may want to change.
- Utility bills. Don’t let budgeting for utilities get lost in your excitement. Think about the energy you will be using (water, electricity, AC, pool, washer/dryer, etc.), and add that to your monthly budget.
Contact us with any real estate questions!
Dec 1, 2023 | QA
Published on our November 2023 Newsletter
Question: “What is holding buyers back from buying a property?
Christie’s Answer: Inventory and affordability are the two top issues for Buyers, according to ABR’s (Accredited Buyers’ Representative) monthly magazine. The third issue is that Buyers seem to have unrealistic expectations.
On St. Croix, inventory has been low for several years, and this continues to be true. Since every property here is truly unique, it’s important to be ready to make an offer when a property you love becomes available. It most likely will be sold when you are ready to relocate. Buy it now! Until you are ready to live there yourself, you can rent it as either long-term, or a vacation rental. Knowing what you would like in a property and possible location on the island is key to a successful purchase.
Buying property on St. Croix differs from buying property in most states. To assist our Buyers to have realistic expectations, we take time to discuss the process, and answer all questions.
Despite all of the preparations, sometimes there are unforeseen challenges which can delay closing. For example, on one large parcel of land we sold, an archeological site was found of a Pre-Columbian ball court. Historical research was needed, and legal documents prepared. Ultimately, that portion of the land could not be disturbed by the new owners. They were delighted to have such a site on their land!
Contact us with any real estate questions!
