Welcome to Virgin Islands MLS
Virgin Islands MLS is a website and blog for information about real estate, relocating to the U.S. Virgin Islands, and related financial and island news. We have links to local realtors and services, resources like schools and banks, and a growing section on how to relocate to the Virgin Islands, as well as current news about the USVI real estate market. If you are looking for a realtor in the U.S. Virgin Islands, to buy or sell a house, condo or vacation property, or to get a feel for the market, this is the place to start. You can sign up to receive updates by email using the form below. Enter your email address to join our notification list:
December 16, 2011
David Fedeles Winter Newsletter
July 21, 2011
Calabash Boom Proves More of a Fizzle
I just don't think there are jobs on the island to support local real estate like this:
Despite generous subsidies for first-time home buyers, the V.I. Housing Finance Authority is having trouble selling units in its Calabash Boom moderate price housing development on St. John, acting Executive Director Adrienne Williams told the Legislature Wednesday during budget hearings.
Of the recently completed 24 duplex units in 12 buildings on St. John, six units have sold and one is under contract, Williams said.
"The typical St. Johnian has property and prefers to build on their own property," she said. VIHFA has been tweaking its approach, emphasizing how owning a home is a great investment compared to renting.
"So you don't think it is the price point, but more lack of interest?" asked Sen. Louis Hill.
While the asking price of $295,000 per unit may put off some buyers, that price is before substantial VIHFA subsidies, said Williams.
February 14, 2011
Developer, Local Activists Spar Over Vessup, Muller Bay Plans
From the St. Thomas Source:
Lionstone Development is once again locking horns with environmentalists and local residents over development at Vessup and Muller bays.
Bruce Lazar, executive vice president of Lionstone Development, was on St. Thomas Wednesday to promote the project, which he claims will give local Vessup beachgoers a better beach and a say in how it should be improved.
But local environmentalists are not buying it.
When he appeared on the "Face to Face with Addie Ottley" show Wednesday night to unveil the drawings done by Springline Architects of St. Thomas, callers to the show were concerned about access and probable negative impacts on the local ecosystems.
Andrea King, board director/founder of the Red Hook Community Alliance, said she is arranging an hour of show time on "Face to Face" to "give us, the community, our time.
December 16, 2010
St. John Properties
St. John Properties
Let the professional staff of St. John Properties find the house, land or commercial location for sale or for rent which meets your needs and fulfills your dreams on St. Thomas, the capital of the Virgin Islands, on St. Croix, with its quiet pastoral beauty, or on St. John, the crown jewel of the Caribbean. Visit >St. John Properties for more information.
September 15, 2010
Court Authorized Sale of Certain Assets of the Pond Bay Club, St. John, U.S. Virgin Islands
Alvarez & Marsal Canada ULC ("A&M"), in its capacity as Agent to the Court-appointed Receiver of the Mortgaged Property of First American Development Group/Carib LLC, known as the Pond Bay Club, shall be conducting a sale of the Receivers right, title and interest in certain assets. The sale will take place at the Pond Bay Club project site on St. John, USVI from September 21, 2010 to September 24, 2010.
The Pond Bay Club was planned as a 15-acre private residential resort located on Chocolate Hole Bay in St. John, USVI. The development plan contemplated the construction of 50 residential units and related amenities and services comprised of 17 buildings.
The assets being offered for sale include two new 1 Megawatt Broadcrown generators, seven Jeep vehicles, general construction materials (e.g. lumber, storm water & sanitary piping and conduit, electrical supplies), furniture and fixtures, a "Fastway" concrete plant with three 10 yard trucks, construction trailers, and shipping containers.
The assets will be offered for sale on an "as is, where is" basis, without warranty.
US Virgin Island Real Estate Looking To Bounce Back From 2008 Crash
Some stunning stats in this article - not sure if they are all accurate or not - I was not aware things were quite so bad:
"In St John, the average price of condominium units plummeted to around US $300,000 this year, down 50.5% from 2009 prices. The average home sales price dropped 14% to US $1.28 million in 2009, but has rallied in 2010 with a 7% increase to US $1.37 million according to Islandia Real Estate. And the market for villas has started to look up in 2010 with a 15% increase in sales from 2009."
August 13, 2010
CZM Permit and Lease Workshops
CZM HOST FREE WORKSHOPS ON ST. THOMAS AND ST. CROIX FOR PERMIT AND LEASE PROCESS
The Department of Planning and Natural Resources/Division of Coastal Zone Management (CZM) is pleased to invite you to participate in a CZM Permitting and Lease Workshop. This workshop is free and open to local Government Agencies, Architects, Engineers, Draftsmen, Contractors, Community Organizations and other interested persons. The workshop will provide information about minor and major CZM development permit applications, permit review process, local/federal consistency regulatory updates, lease applications, and compliance with approved CZM permit conditions.
For St. Thomas and St. John residents, this workshop will be conducted on August 24, 2010, 9:00 a.m. - 3:00 p.m., at the Small Business Development Training Center, 8000 Nisky Center, Suite 720.
For St. Croix residents, this workshop will be conducted on August 26, 2010, 10:00 a.m. - 4:00 p.m., at the Port Authority Conference Room at the Henry E. Rohlsen Airport. Free parking at the airport will be available to attendees.
Please complete the attached registration form by August 18, 2010, to confirm your attendance. Space is limited so register now. Return your application via fax to (340) 714-9524 or email to firstname.lastname@example.org
STX Registration Form.doc
STT Registration Form.doc
July 27, 2010
CZM Permit Approved for Long-Awaited Robin Bay Resort
From The St. Thomas Source:
"Despite a whole morning of power failures, senators hit the ground running early Monday afternoon, passing through full session three major coastal zone permits -- one of which will allow for construction to start on the long-awaited Robin Bay Realty resort and casino on St. Croix."
July 19, 2010
35 Cabrita Point Estate Homesites
The Ritz-Carlton Destination Club & John Foster Real Estate Announce the release of 35 Cabrita Point Estate Homesites
Cabrita Point, with breathtaking views and only steps away from The Ritz-Carlton, offers an island lifestyle most will only dream of. Please join us on Wednesday to learn about this extraordinary real estate opportunity.
Complimentary Wine and Cheese Reception
Wednesday, July 21st 5:30pm to 7:30pm
The Ritz-Carlton Destination Club Membership Gallery (Located below the Allamanda Building)
Cabrita Point, St. Thomas is an exceptional location set in one of the most picturesque destinations, located adjacent to the four-diamond Ritz Carlton and its sugar white sandy beaches. View the mountainous peaks of St. John, the crystal blue waters of Great Bay, or the yacht mecca of RED Hookevery future home will have a breathtaking vista. This exclusive peninsula will provide future owners a sense of exclusivity and privacy rarely experienced in the Caribbean.
Opportunity awaits Thirty Five (35) fortunate lot purchasers. All parcels are oceanfront or water view. Te R-1 zoning code will allow each lot owner to build detached single or two family homes. The land is subject to the CZM approval process, however single and two family residences require a minor CZM permit, which is typically a 60 day process. New waterfront and water view homes are typically priced from $500 to $1,000/interior sq ft, ranging in price from $1.8 to $million. This is a unique and historic opportunity to own and experience a rare lifestyle/ investment in the US Virgin Islands.
Special Offering for Initial Plot Purchasers!
For more information call Peter Briggs
(O) 340-776-5000 (M) 340-513-1850
April 26, 2010
RE/MAX Island Paradise Realty
RE/MAX Island Paradise Realty with its nationwide recognition, offers you complete listings of all homes, condos, land, timeshares and commercial properties for sale on St. John. Re/Max Island Paradise Realty is conveniently located at Mongoose Junction. Visit the RE/MAX Island Paradise Realty website for more information or send them an email. WINNER OF THE DAILY NEWS BEST REAL ESTATE AGENT, 2007 and BEST REAL ESTATE AGENCY, 2010!
April 16, 2010
Cruzan Breaks Ground on New Treatment Plant
Good news for St. Croix:
On a stark, muddy field, 10 gold-painted shovels dug into the ground and tossed the first clumps of soil Thursday, marking the start of a new era at Cruzan Rum; one that will see the territory become the No. 1 rum capital in the world, according to Gov. John deJongh Jr.
Thursdays groundbreaking ceremony for the new Cruzan Rum wastewater treatment system drew more than 100 spectators, including more than half the Senate, Cruzan employees past and present, and executives from the St. Croix distillerys parent company in Deerfield, Ill.
March 26, 2010
Federal Warrant Issued for Missing St. Thomas Real Estate Broker
The story is really quite bizzare:
"The U.S. Department of Justice this week issued a federal warrant for the arrest and extradition of fugitive St. Thomas real estate broker..."
February 10, 2010
Speculation Rampant Over Vanished St. Thomas Real Estate Broker
This is one strange story - more from the St. Thomas Source:
She fled to Venezuela via Cuba ... or lost all her money in high-stakes poker tournaments or shes living a posh life under federal witness protection, and the feds will soon fix this whole sordid mess.
Thats just a tastehors d'oeuvres, if you willof a juicy feast of rumors tempting St. Thomians in the wake of the sudden disappearance of St. Thomas real estate broker and businesswoman Rosemary Sauter.
The truth, however, has yet to even be sketched by law enforcement officials now on the lookout for Sauter ever since she vanished early last week.
February 08, 2010
Arrest Warrant Issued for Fugitive Realtor
Something strange happening on St. Thomas - Rosemary did my taxes one year and I did know her professionally:
Once the headquarters of the largest real estate brokerage on St. Thomas, the doors to RE/MAX Dream Properties in Lockhart Gardens were closed and locked Friday, sealed with bright yellow police tape that read, Crime Scene. Do Not Cross.
osemary Sauter-Frett, the owner of the brokerage, is being hunted by local authorities, and if she has fled the territory could be the target of the FBI.
I have no idea about what is happening - the St. Thomas Source has more, but details at this point are sketchy.
November 05, 2009
Fall 2009 St. Croix Real Estate Update
From David Fedeles, St. Croix:
Greetings from St. Croix! A great article about our island was a feature story in the October 2009 issue of Caribbean Travel + Life Magazine. If you missed it, check it out and I was quoted with a sidebar editorial shown below:
"FOR SALE" SIGNS Think Caribbean homeownership is only for Ponzi schemers and James Bond villains? Well think again. The dream of buying a residence in the United States Virgin Islands can be surprisingly attainable, with familiar tax laws and real estate practices defining the process and the good ol' American dollar making it happen. "And anyone searching for the Virgin Islands' biggest bang for the buck need look no farther than St. Croix," says veteran agent David Fedeles of Farchette & Hanley Real Estate, in Christiansted. With a median home price hovering around the $600,000 mark ($229,000 for condos) and no shortage of available properties, thanks to our lingering economic blahs, th e island is ripe for bargain hunting. We found a furnished, two-bedroom, two-bath Teague Bay home on the island's eastern tip priced at $639,000 (Ed. Note: now Sold!) and boasting a heated pool, a full acre of land, and a glorious view of Buck Island to the north. And three miles west of Christiansted on Pelican Cove beach, $249,500 buys a furnished two-bedroom condo with resort-style amenities and an ocean view (also Sold!)." Let's hope I get some inquiries and can 'stir up some action' from the stateside economic doldrums which impact St. Croix as well. Also newsworthy...Continue reading "Fall 2009 St. Croix Real Estate Update"