St Croix Real Estate in Spring, 2010

What's real estate like in St croix right now? Lots of folks ask me that question. I'm staying very busy with mainlanders, mostly in their 40's - 50's, who are here to scout out properties for a possible investment. These are smart, savvy folks who have a mind to buy something they can rent out for a few years, and then have as a retirement spot. Many look at condos, but those a bit more affluent and/or risk tolerant, are snatching up great buys on single family residences that they can rent out on the vacation market. To meet that criteria, the home must have a sea view, a pool, and be in a nice area. A few years ago, homes meeting those stipulations would have set you back three quarters of a million dollars. Today, you can pick one up for about half a million.

Some of my more recent buyers were in St Croix for the first time....fell in love....and were astounded at the values. One couple from Princeton stayed at my vacation villa and called me to see if there were any on the market. Indeed there were - they looked - and then decided they should expand their search before buying. They ended up with a small condo nearer to Christiansted, but one that is a stone's throw from the ocean. Their purchase was well under $200,000, and they are thrilled!

My latest buyer couple have a sophomore in high school. They live in Laguna Beach CA near the Pacific. They love the Caribbean and want a place here, too, where they will spend more time as their daughter graduates and goes away to college. They selected a lovely 3/2 home with awesome view and a very nice detached guest house. They can expect rental income of around $60,000 a year; that will completely cover their mortgage and give them income to boot!

And remember that ocean front condo I had on the market forever - price tag of $85,000? An attorney bought it sight unseen. He wants a little getaway where he can come whenever he wants, and will rent it out when he's not on St Croix.

My next buyers will be the most fun of all! My daughter and her boyfriend (photo above) are moving here from Australia and plan on buying a home. They'll be just in time to receive the tax credit before it expires. I am really excited about showing them around, and assisting them with their purchase.

So, real estate has been busy this Spring throughout St Croix. Well-priced properties are selling, and many buyers have realized how good the prices are. Contact me for some ideas on how you can invest in our St Croix real estate, and check out my new company's web site, Buyer Agent St Croix.