US Virgin Islands

With all the bad news in the media about the housing slump, people are very fearful of investing in real estate now. Certainly, some members of my profession as well as unscrupulous lenders have created a big mess, by assuring their customers things like "real estate never goes down" and "you'll probably get that big raise you're expecting and will be able to afford your payments as your interest rate rises." Shame on them!

Fortunately, we have very good lenders in St. Croix and we are not experiencing foreclosures here like some places in the states. However, with fewer buyers in the market, we are most definitely seeing a slow down in sales and due to the news and forecasts, even a fair number of price REDUCTIONS on lovely homes and land.

Now, you can look at it as "gloom and doom" OR - you can see that this may be a great, and perhaps the last, opportunity, to purchase land or a home here at extremely good prices. If and when things turn around, I believe the prices in the Virgin Islands will start to go up again. Think about it. These are the only islands in the Caribbean that are a US territory. St. John is completely unaffordable for the average person. St. Thomas is, well, St. Thomas: crowded, over commercialized, full of traffic, and more expensive than St. Croix. We are the last island to see development. And believe me, development will come.

I am sad about that in many ways - so much of the island is pristine and unspoiled - but you know it will eventually get here. Eighty million of us baby boomers have a dream of living in the Caribbean - and yet most of us aren't ready for "Robinson Crusoe" living. This is the perfect island for us! We have all (or most) of the benefits of being in the United States, and yet the vibe and culture here is most definitely "ISLAND." We're "living and dying in three-quarter time," as the icon of our generation (Jimmy Buffet) says! So we have the best of both worlds here!

NOW, you have a chance to get in while the prices are somewhat depressed and sellers are anxious. If you wait, you'll be kicking yourself when the market turns around and prices start soaring again. We came here in May of 2005 looking for our place in paradise. Prices were steadily increasing and we saw the writing on the wall....we better buy NOW or we will be priced out of the market. We bought a house the first week we were on the island - which was not our intention. Our "rational" selves said to rent here for six months to make sure we liked it and knew the island well enough to know where and what to buy. But our hearts said - "THIS IS IT and the TIME IS NOW."

Our house has DOUBLED in value in three years. And we could not be happier with the neighborhood and area we selected. We couldn't afford our home now - or even six months after we purchased. So come on down. If you like it here (and of course, not everyone does) and it speaks to you - NOW IS THE TIME. Don't wait and be kicking yourself next year......FOLLOW YOUR HEART AND ALWAYS FOLLOW YOUR DREAMS!!!

Visit my web site for honest opinions and recommendations about Retiring in the Virgin Islands. And contact me with your questions and concerns. I've made the move, so I speak from experience.

Kim Lucas, Realtor
kim@coldwellbankervi.com
www.retireinthevi.com
340-626-3758

I don't have school aged children - so keep in mind that my opinions are based on what my friends with children tell me and what i hear. It seems pretty clear that the public schools have their share of problems. Mold, insufficient staff, poor maintenance, and problems finding and keeping good teachers are all topics I hear discussed on our great talk radio show here (and you can listen WHERE EVER you are: www.paradise935fm.com).

One out of every six students who attend secondary school is enrolled in a private school here.

There are several private schools here that seem to be very good. Country Day School (http://www.stxcountryday.com) and Good Hope (http://www.ghsvi.org/about_ghs.htm ) are the two largest. Manor School (www.manorschoolstx.com) and AZ Academy (http://www.azvi.org/difference_az.htm ) are other options.

For a full description of ALL schools, their phone numbers, number enrolled, etc., go to http://www.vimovingcenter.com/schools/stcroix.php .

Hope this helps! Ask for my Relocation Package, or contact me with any real estate questions. St. Croix is a great place to invest right now!

Kim Lucas
kim@coldwellbankervi.com
www.retireinthevi.com
www.kimlucasvi.com
340-626-3758

I got an email this evening from a mainlander asking me about the pros & cons of living here. Interesting queston! And one that would elicit a different response from every person here on the island, I'm sure!

In the spirit of helpfulness, I did compile my list. Here it is

PROS:
I absolutely LOVE the weather here! I like it hot - don't even have AC here - so for me - that's a big PRO. Winters are fabulous - and summers here are certainly no worse than in Atlanta! Plus - we have the breezes and of course the ocean to jump into when the temp gets above 90!

I love that there is ALWAYS something going on here, and that you don't have to drive forever to get there or pay to park!!! I lived in Atlanta and rarely went out because it was such a hassle! I never wanted to worry about driving 30 - 45 minutes home after a night on the town! Here - there's always something artsy or musical going on - and everything is close!!! Last night, we went to the home of some friends who erect a HUGE screen in their yard and show movies (last night was the Bucket List - I highly recommend it!!!). They do this every Monday. Last night there were about 20 people there - we all brought chairs & coolers & popcorn - it was a blast! Tonight (tues.) is "Two-fer" night at the local brew pub. It's also bingo night at another bar - and it's not the over 60 crowd - it's the 30 somethings - and the prizes include free food, drinks, and even cash!! This Thurs. is "art Thursday" and all the galleries in town stay open late and serve wine & cheese - so lots of us will be out and about in town on Thurs. enjoying ourselves. Fri. is jazz in the park in Frederiksted - there will be a huge crowd - great music - great food (street vendors) - free flowing drinks - a huge street party. Sat. and Sun. the beach bars have live music. I'm participating in a Cancer Walk this weekend too. SEE!! There's ALWAYS something fun going on! BIG Pro in my book! I've never once been even a tiny bit bored here!

No traffic- BIG PRO!!!

NICE PEOPLE - big Pro!!! The locals and us transplants all seem to be so happy to be here that we're just NICER than folks on the mainland!

Water everywhere! Big Pro!! It's difficult to be out of sight of the ocean for more than a few hours - the island is only 8 miles wide and 27 miles long - so you see the ocean a lot here. As a Realtor, i find that to be a real benefit - I'm in my car a lot - but the scenery is fabulous!

Great diversity here - big Pro! We have friends of all colors, backgrounds, ages, etc. There seems to be a much greater acceptance of diversity here than in other places I've lived. I consider this a huge plus. I have learned so much from the folks that are "different" from me in some way. It makes things so much more interesting!

Sunrises and Sunsets!! Imagine gettng to see sunrises and/or sunsets over the ocean every day! It's fabulous!

Now for cons -

It's EXPENSIVE!! Food prices are high here (groceries, eating out). Electricity is outrageously expensive. Homes are expensive. Insurance (if you own a home) is expensive.

It takes FOREVER to get things done!! (but hey, you look around and see 1000 colors of blue in the ocean, and forget that you're frustrated!!!)

There's no TACO BELL!!! (HA!)

There's too much crime. This is a community of "haves" and "have nots" - and there's just too much petty crime here. It's aggravating and frustrating - and at times - scary.

All things considered, I just can't imagne living anywhere else now. I absolutely LOVE IT here.

Ask for my Relocation Package, or contact me with any real estate questions. St. Croix is a great place to invest right now!

Kim Lucas
kim@coldwellbankervi.com
www.retireinthevi.com
www.kimlucasvi.com
340-626-3758

Finally, we have a new property tax bill! The bill calls for tax payers to pay at a mil rate of .0037 on homes, .0049 on unimproved property, .0071 on commercial properties, and .014 on timeshares. These rates are paid on 100 percent of the value of the property.

Previously, all tax payers paid a mil rate of .0075 on 60 percent of the value of the property.

Since property tax bills have NOT been issued yet for 2006 and 2007, buyers will receive a credit at closing for these taxes, but then will have to pay them once the bills ARE issued.

As a service to my buyers, I will certainly remind you when these bills come out - and help you get a copy if you need one. Not receiving a bill is no excuse for not paying the taxes - and penalties and interest do apply, even when the tax office is not able to get the bills distributed correctly!

Contact me with questions about your property taxes, or buying and selling real estate in St. Croix.

Kim Lucas REALTOR
kim@coldwellbankervi.com
http://www.kimlucasvi.com/
http://www.retireinthevi.com/

I just returned from a week in Oahu, Hawaii, where I spent a wonderful week with my lovely daughter. She lives in Australia - so Hawaii is half way for us!

I had been to Oahu about 12 years ago, where I studied Dolphin intelligence at the Marine Mammal Institute there (it's no longer there....). It was very interesting to go back to compare that tropical paradise with the one I currently live in!

Oahu is about three times larger than St. Croix - with interstates, TRAFFIC, and of course a big city. The beaches are beautiful and it is the perfect spot for "adventure seekers" who also love the water. The lush foliage and tropical plants are very similar.

I will have to say, I prefer St. Croix hands down. It's a much more "livable" place in my opinion and the beaches and lovely places are more easily accessible. The shopping is much better in Oahu, no doubt, but for me, it just doesn't come close to my lovely St. Croix!

There are plenty of investment opportunities here in St. Croix, and prices are still affordable to buy land and hold for retirement. Contact me for all things real estate in St. Croix! (guess which photos are of St. Croix and which of Oahu...)

Kim Lucas REALTOR
kim@coldwellbankervi.com
http://www.kimlucasvi.com/
http://www.retireinthevi.com/