Charlotte Amalie, VI

Wednesdays are traditionally the day for open houses on St. Thomas. They are open mainly to brokers and agents. Although you are not prohibited from bringing your customer. Today there were a total of six open houses.

I started out with the thought of trying to identify the best buy, but it really depends on your needs.

The first home was in Frenchman's Bay. A duplex, two, 2 bedrooms 2 baths, mirror images of each other with a 1 bedroom apartment downstairs, nicely renovated, garage and a private beach. As an income investment you could probably generate $6000 a month by renting out all three units, which could go a fair distance on helping to pay the mortgage on the $1.35 million asking price depending on how much you put down.

Just next door was a townhouse that had been renovated to be one, 3 bedroom 3 bath home on the main levels with a 1 bedroom apartment down stairs. This home has a large infinity edged pool, private beach, and no garage. More of a home, I see a family owning and using the apartment for a nanny, in-law or guest suite. You would have to be able to comfortably afford the $2.2 million asking price.

The pool pictured on the left above, belongs to the house in Solberg and is located right in the center of the home. It opens to the deck and overlooks the Caribbean Sea, port harbor of Charlotte Amalie, Water and Hassle Islands, one of the most coveted view on St. Thomas. One of the bedrooms, the kitchen and dining rooms are on one side and the master bedroom suite in on the other side. This too, has a one bedroom apartment downstairs. I envision a younger or older couple, living here, due to the two bedrooms and the pool is not so you could prevent young children from accessing it. The asking price on this one is $450,000.

The largest home was in Frenchman's Bay, consisting of some 7000 sq. ft. It has 4 bedrooms and 4.5 baths on the main level and 3 bedrooms and 3 baths below, a large pool with a huge deck and sits close to the water. I see this home filled with a large family. Perhaps including grandparents, children ranging in ages, and parents who love to entertain often. Whether it is having the entire soccer team over or throwing a fund raiser for their favorite charity, it is on a flat lot so there is lots of parking. The asking price on this home is $1.6 million. There are some finishing touches that still need to be made on this home, but it is a grand villa with marble floors and custom work throughout.

There is a cute, I call it, a doll house, in Frenchman's Bay. This home has 2 bedrooms , 1 bath, a garage, a covered gallery that has a fabulous view of the cruise ships coming in, an efficiency apartment downstairs and great neighbors, I am told. Well maintained and loved by it's owner but the time has come to move. I see this as a great starer home for a young couple or a single person who wants more privacy than a condo can offer. It is priced at $425,000.

The last home I visited was a gated compound. There are two buildings containing a total of 4 separate living areas which share a very large pool with expansive decking, an outdoor kitchen and cabana bathroom. There are a total of 9 bedrooms and eight baths not counting the cabana bathroom. I see this being purchased by a corporation, using it as a retreat/think tank/ training center. The complex sits on the waterfront and I am sure has some of the best snorkeling around. The owners are throwing in a few kayaks for the adventurer in you. The stonework and tiling is exceptional. The place is built to surpass all building codes, has an automatic generator. If you have food delivered, you would never have to leave and you may not want to. It is offered at $5.5 million.

There is a broad selection of real estate on St. Thomas. If your looking, let Van Blake-Coleman Realty, help you find what will work for you!

What about Foreclosures in the Virgin Islands? They abound on the continent or mainland. Experts on CNN predict, the real estate market will continue to decline until the inventory of REO's is absorbed. The debacle of the market was instigated by out of control lending institutions, sub-prime lending with homes being sold to people who could barely afford them at greatly inflated prices. A mis-step in payments, a reduction in income or the balloon payment kicks in and you're in trouble. It is a slippery slope. The economy stalled, jobs were lost, we all know the story. The majority of Homes in the US Virgin Islands, for the most part, have escaped this fate.

Fortunately, for most Virgin Island Real Estate owner, the banking system has a separate commission and licensing system, banks and lending institutions have to be specifically licensed to do business in the territory. The requirements for qualifying for loans has always been conservative with 20% down payments for primary homes and 30 to 40% down for secondary or vacation homes as a rule of thumb, with the exception of FHA and Rural Development Programs.

Yes, the economy has impacted values on the Island. The largest drop in prices has been in high end homes ($1,000,000.00 or more). Inventory of condos and homes below that mark have increased and their prices have soften some. But there are few foreclosures or fire sales. Occasionally, there is a home or condo that is impacted by someone who's holdings include distressed property on the mainland that causes an overall bankruptcy. We have also been impacted by the fact that there are so many deals in other areas and people are exploiting those opportunities resulting in fewer buyers in our market.

I get a fair number of inquiries from people from the mainland looking for distressed properties in paradise. " I am looking for a 4000 sq. ft., 3 bedroom house, on the beach between $60,000 and $100,000". So am I, but you won't find one in St.Thomas or St. John.

Yes, it is a buyers market but year to date figures for St. Thomas show the average sale price of a home has been $563,153 the average condo sales price has been $222,180 and the average price for land has been $190,194. For further information Talk to Tanya at 340 344 2959

It's four in the afternoon on the Harbor of Charlotte Amalie, in St. Thomas in the U.S. Virgin Islands. Happy hour at Frenchman's Cove, a newer timeshare subdivision of the Marriott Hotel, in Frenchman's Bay is featuring St. Thomas' hot new groups, two for one drinks, breath taking scenery, happy tourist, a few local folks and lots of sunshine of more than one kind.

I was invited by friends, who I have been working with to find an investment property. Their daughter is the vocalist for Liquid Sunshine. When my business partner and I arrived, they were sitting at a table just outside of the bar in front of the band. We had just picked up a new listing of a great lot with a stunning view in Mahogany Run and looked at a condo on the East end of the island that is in the process of being rehabbed. When offered a drink, I decide to celebrate a bit and ordered a rum punch (what else would you order when your neighboring island, St. Croix, manufactures some of the best rum in the world, Cruzan).

As I took the elevator down to the pool area I had noticed a fair sized gathering of people were scattered around the facilities, sitting at tables, at the bar, lounging in the pool, on deck chairs, in the hot tub or laying on the beach.

Liquid Sunshine Band, the entertainment; consists of vocalist Ines, Tim on guitar and vocals and Tom as the percussionist. They begin to play, preforming a wide range of numbers all of which make you smile, sway and sing along. People pull closer to the band, Children stop playing to listen to the smooth tunes and easy beat. Babies clap as their moms rock them to the rhythm. It is infectious. Some people dance by themselves, others dance and sing together. Watching them makes me smile even more because I know they are enjoying it as much as I am.

We playfully joke about a guy who gets out of the hot tub with a Speedo style bathing suite with large stars on it. My friends husband request that his wife buy him one with both stars and stripes. No harm meant, just fun. The man was mature and actually wore the suite well.

What a great way to spend a late afternoon. I was able to schedule showings for the next day and respond to some inquiries via text, ahhh, technology.

If you are interested in real estate in the U.S. Virgin Islands follow the link, to search the Multiple Listings (MLS) to look at what is available or call 340 344 2959 for personal assistance. My website is www.talk-to-tanya.com

It is the season for hurricanes in the Caribbean. We often have warnings. Saturday afternoon, as president elect, I hosted a luncheon for incoming officers of the St. Thomas Board of Realtors at the Grill in Mahogany Run. We discussed some of our goals for the up coming year. Our conversation quickly turned to Hurricane Earl which was at that time a tropical storm but headed straight our way. Those who had survived Marilyn in the mid 90"s, were quite anxious. Those of us who have not endured a full hurricane were even more uncertain. Most of us had registered with VITEMA or the Virgin Ilsands Emergency Management Authority, they had already issued a warning and they were flying in a team, Earl was expected to arrive around 2:00 a.m. on Monday, it was supposed to be a category 1 hurricane. Sunday we were told the storm had stalled and was picking up force and would not come in until later on Monday.

On Sunday after noon I was struggling with my shutters and a neighbor saw me. She put on her gloves and came over to give me a hand. It seemed to go so much faster with her help and company.

By Sunday night we had checked on properties we manage, stocked in food and water, put up shutters, removed everything from outside and on balconies and porches, replaced batteries, filled our cars up, secured our passports and other important documents in zip locked bags, gotten some cash from the ATM. We were ready. I had dinner with a friend and spirits were high. People joked about having their favorite rum on hand and we ate hardy in anticipation of not being able to cook good meals for a few days.

Shortly after 5 a.m. on Monday the electricity was turned off. This is a preventative measure. Earl was now a category 2 hurricane. The clouds rolled in and rain started to fall. I had picked a bathroom in my downstairs apartment as my safe room. With the exception of a small metal louvered window, I would be surrounded by concrete. If the roof went on the main house I would still be dry. I took my two dogs for a walk and we all moved our provisions into the room. I spent my time actually in my office, which adjoins the safe room. I could see out and watch what was going on. There wasn't much to see, lots of hard driven rain and trees waving in the wind. VITEMA said the storm should pass in the next 12 hours, that meant sometime around 5 pm, it should be gone. I exchanged text messages with friends and relatives, assuring them I was okay. People were calling and I would rush them off the phone because I wanted to save my battery power, remember we had no electricity. I read by flash light and dozed. Always listening for the sound of a train everyone tells you about. There was more than one occasion I ran for the safe room, but things would die down.

My husband was in D.C. and was watching the weather channel there, since I could not, he would send me the updates. Around 3:30 p.m. he texted that the eye of the storm was past the Virgin Islands, the BVI had gotten slammed but it was over. Wanting to believe it, I moved everything back into the main house, I didn't want to sleep in a chair in my office or on the floor of the bathroom. Water had migrated under several doors in the main house, so I cleaned up a bit and took a general assessment. Not bad at all. I climbed into my bed and relaxed. By this time it was just after 5:00 pm as the wind picked up dramatically. I could hear things bumping and banging, I dared not to go out to see what it was. It was too late to go back down stairs, the roof creeked and groaned. My husband kept texting that Earl had passed and Fiona was scheduled to arrive on Wednesday afternoon. By this time my phone was loosing it's charge so texts were at a minimum, and I wanted to have some battery left in case of a real emergency. My last text to him was I didn't know who it was but some storm was raising heck outside and I didn't want to hear where Earl was any more, I was praying the roof would hold.

By 7:45 the storm had come to somewhat of an end. You could actually hear crickets again. A friend sent a text, saying it was a good sign. I got up enough nerve to go out with a flash light and survey the damage. There were several small trees down, and many of the leaves were stripped off but other than that, no worse for the wear. My 96 year old aunt, from New York, who had called at the beginning of the storm called to make sure I was alright. I was eventually able to go to sleep.

I woke, around 5 a.m. to light showers. I took the dogs out for a short walk. There were lots of trees along the road that had fallen. I sat in my car and listened to the radio as I charged my cell phone which was completely dead at this point. The news was good, the island had fared well, many people were complaining about not having electricity yet if that is the worst of it, they will be okay. The airport, government and many places were closed or opening late. There was a curfew until 9 a.m. to give the officials a chance to clear the roads and assess the extent of the damage. Tortola on the other hand, in particular, had not done well and was hit quite hard, an island so close if my home were angled about 15 degrees further East, I could see it from my living room window.

Several friends called to check on me. One came by with a new found friend to help me get my generator started. So now I have lights and running water again.

I know this is a long blog, but I wanted to let everyone know of the community spirit on St. Thomas, friends and neighbors were there through it all! I am sure we will reach out to Tortola and lend them a hand too.

While the Caribbean may have hurricanes to contend with, there is a unity and spirit that these times bring out. In addition to great beaches and wonderful landscapes, when the rubber meets the road the hearts of the people of the U.S. Virgin Islands are huge!

For more information on the U.S. Virgin Islands visit www.talk-to-tanya.com, or give me a call at 340 344 2959.