Jul 31, 2023 | QA
Published on our July 2023 Newsletter
Question: “Can I use my lender in the states to get a loan for a property on St. Croix?”
Christie’s Answer:
It’s very important to use a lender who is licensed in the US Virgin Islands and complies with our laws.
Some Buyers do use a Home Equity Line of Credit Loan (HELOC). They are borrowing against the available equity in their stateside home and that house is used as collateral for the line of credit.
We would be happy to send you a complete list of licensed local and national lenders so that you have options. This includes both banks and mortgage companies. Contact us here!
Jul 11, 2023 | Reports
Find the monthly insight and sales data for the St. Croix, USVI real estate market! We have downloadable June Coldwell Banker real estate reports — available below for each category: All Properties, Condos, Single Family Homes, and Land! The sales data will be help you understand the number of listings sold, days on market, the median price listed and sold, and much more.
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:
All Property Types – June 2023 Area Report
Single Family Homes – June 2023 Area Report
Condo – June 2023 Area Report
Land – June 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
Jun 30, 2023 | QA
Published on our June 2023 Newsletter
Question: “What are the different zoning codes I will see on a listing?”
Chris’ Answer:
When you are buying land to build your island home, it is important to know if you can use the land as planned. The most common zones you will see:
R-1 – residential, low density, set backs – 15 feet all sides
R-2 – residential low density (1 – 2 family dwellings), set backs – 15 feet front, 10 feet rear and sides
These are all of the zones:
A-1 Agricultural District
A-2 Agricultural District
R-1 Residence—Low Density
R-2 Residence—Low Density
R-3 Residence—Medium Density
R-4 Residence—Medium Density
R-5 Residence—High Density
B-1 Business—Central Business District
B-2 Business—Secondary
B-3 Business—Scattered
B-4 Business—Residential Areas
C Commercial
I-1 Industry—Heavy
I-2 Industry—Light
W-1 Waterfront—Pleasure
W-2 Waterfront—Commercial—Industrial
P Public
S Special
For in-depth descriptions of the different codes, their uses, and their restrictions, go to: https://law.justia.com/codes/virgin-islands/2019/title-29/chapter-3/subchapter-i/229/
Contact us with any questions about home buying on St. Croix. We have worked with many Buyers on and off the island to purchase their dream home on St. Croix. We can help you with every step of the process.
Jun 29, 2023 | QA
Published on our June 2023 Newsletter
Question: “What are zoning codes and what do the different codes mean?”
Christie’s Answer:
We get this question a lot from buyers and sellers! Zoning codes are a set of rules that regulate what can and can’t be done on a particular piece of property. There are four different types of land use zoning:
Functional zoning – residential, commercial, waterfront, administrative, industrial, and green space.
Intensity zoning – high density, average density, low density, no development.
Incentive zoning – rewards for development in defined areas.
Form based zoning – focuses on physical characteristics, defined as a form of urban identity.
Contact us with any questions about home buying on St. Croix. We have worked with many Buyers on and off the island to purchase their dream home on St. Croix. We can help you with every step of the process.
Jun 21, 2023 | Reports
Your monthly insight into the St. Croix, USVI real estate market! We have downloadable May Coldwell Banker real estate reports — available below for each category: All Properties, Condos, Single Family Homes, and Land! The sales data will be help you understand the number of listings sold, days on market, the median price listed and sold, and much more.
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:
All Property Types – May 2023 Area Report
Single Family Homes – May 2023 Area Report
Condo – May 2023 Area Report
Land – May 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.
