Blog Headlines | St. Thomas Real Estate

Homeowners in Denial About Value of Properties

Wednesday, July 20 2011

Homeowners, especially those who bought their houses after the real-estate bubble burst, are still having trouble accepting just how much the values of their properties may have fallen, says a new report from the real-estate site Zillow.

Current sellers who bought their homes in 2007 or later, an analysis of the site's home listings shows, are overpricing their properties by an average of 14 percent.

Sellers who bought their houses before the bubble, and those who bought during the big run-up in home values, also are overpricing their homes, but not by as much. Those who bought before 2002 are pricing their homes roughly 12 percent over market value, while those who bought from 2002-06 price them about 9 percent over market value.

Real Estate Comparison to the States

Tuesday, July 19 2011

Here in St Thomas, Virgin Islands, we sort of play by our own rules. What happens here doesn't necessarily translate to the States, nor does what happens in the States necessarily translate to down here. Easier said- we beat to our own drum, and this includes Real Estate.

I get calls almost daily asking about foreclosures. Do we have them down here? Occasionally. But not frequently. It is nothing like the hard hit areas in the States, where as many as three quarters of sales are through foreclosures.

The Trip Off the Rock

Tuesday, July 19 2011

Everyone looks forward to the trip off the rock. Everyone. But where does a person go from the Virgin Islands?

Most of my time away from here revolve around family, friends, weddings, and funerals. I guess you could call that the "important stuff", but that is just my view. Seems others choose the dates and reasons more than I do myself.

But this year was a little different. It took a little bump in the right direction from a close friend, but he rallied my senses and got me motivated for my ten day Stateside tromp.

Charitable Golf Tournaments

Tuesday, June 21 2011

Special thanks and kudos to Mahogany Run Golf Course for their hospitality with regard to Charitable Fundraisers. They have been putting on four person team scrambles for many different causes over the years.

So far this year, we have already had the St. Thomas Swimming Association tournament. And coming up this Sunday is the Humane Society Golf Tourney. Both incredible causes, and a well needed source for raising funds.

Introducing Shadow, the most recent addition to Real Solutions

Tuesday, May 31 2011

Introducing SHADOW, the newest member to the Real Solutions Team. She was luckily found at the local St. Thomas Humane Society and has been lovingly moved to our house and offices. Much sweeter than any past employees, though she is so far only capable of licking the floor clean of any food and providing needed (and well deserved) entertainment for us and our visitors.

Come visit and meet her anytime.

The Solar Hot Water Heater is Installed !!!

Tuesday, April 19 2011

Yes, it is done, and it was rather painless. Kirk and Cara now have a solar hot water heater on their roof, and it gets the water really really really hot.

Here's the basic story. I met with Brian Walden, who is the owner of Solar Systems, LLC. His company (along with partner Ed MacKenzie) was instrumental in getting this program moving in the Virgin Islands. So we discussed how it would work: The Federal Government offers a rebate program to cover half the costs, and the Virgin Islands Government set up a loan program to cover half the costs. So the homeowner does not have to put down any money whatsoever !! The loan program will be reimbursed via your WAPA bill on a monthly basis. I don't recall the exact amount, but something like $50 per month. What does this mean? Your WAPA bill will go up? NO. This loan repayments will be offset by savings from the solar water heater.

And the Waters Turned Flat

Tuesday, April 19 2011

Winter is over. How do I know that here in the Virgin Islands? Well, for one, my friends have stopped calling me and whining about how cold it is up in the States. They also stopped calling me and telling me about the incredible powder days in the Colorado ski mountains. So those were my first clues.

And though the temperature here in the Virgin Islands doesn't change much, I have noticed that the waters have grown flat. By this, I mean they are calm and inviting for somebody with a little boat like mine.

It is really nice to skim across the flat waters in Pillsbury Sound, towards St. John and the fertile lobster grounds and incredible snorkeling that is offered throughout our territory. It is equally pleasing to see the waters from high in the hills while the sun, shadows, and various depths create various hues of blues and greens. It really does make for spectacular sightseeing / views.

The attached photo is from the most recent lobster expedition. If you have read these blogs in the past, then you know I am an avid freediver and lobster hunter. With more flat waters on the horizon, expect more days with a result like this one.

Who deserves a principal reduction?

Friday, March 25 2011

This blog is from MSN. Link: http://realestate.msn.com/blogs/listedblogpost.aspx?post=72cc10ab-7bc8-4...

Forgiving mortgage debt is under discussion as the federal government and attorneys general negotiate with loan servicers. But whose debt would be forgiven?

One of the most difficult pieces of the deal the federal government and state attorneys general are negotiating with major loan servicers is whether banks will forgive principal for borrowers who owe more than their homes are worth.

That's 23.1% of Americans who have mortgages, a number that will grow if prices continue to drop. In Nevada, more than 65% of mortgages are underwater. The number is 51% in Arizona and 47% in Florida.

Doggy Ball

Sunday, February 13 2011

The 2011 Humane Society Doggy Ball is now in the record books. Congratulations for a job well done- especially to Leslie Maxwell and Divya Daswani, the primary creators of the event.

If you haven't been to this before, it is a wonderful annual charitable fundraiser sure to leave a smile on your face. They have a great turnout every year. There are a lot of auction items for sale, as well.

Special kudos to Charles Kim of Alpine Securities, who donated $45K of matching funds if others stepped up to equal the amount. Primarily with the help of one particular anonymous donor, I understand they were able to raise the matching $45K. I also understand this will give enough money to get the new shelter opened once and for all. YEA !!! Thanks Charles, what an awesome island addition you have been over the last few years with your generosity.

Cell Service in the Virgin Islands

Thursday, February 10 2011

I get a lot of searches via google, bing, and yahoo with regard to cell service, so this blog goes out to those that are wondering how their stateside phones will work while visiting the Virgin Islands.