What is Happening with St. Thomas Real Estate ??

So, what is going on with St. Thomas Real Estate right now? The answer is a lot. Things seem to have picked up considerably. The question is, what is causing this change for the better?

I have several ideas, based upon my discussions with buyers:

1. It seems a lot of people have been sitting on cash for a long period of time. You just can't make anything off interest from the banks. So why not put that money to better use thru a Real Estate investment? A lot of people are answering that question with a resounding YES, I WILL DO EXACTLY THAT.

2. Interest rates being low is also very beneficial for mortgage rates. This has been very helpful, and makes a purchase with a low fixed interest rate very appealing for investors and home buyers alike.

3. The stock market has been ripping it up. Does this really translate into more cash for buyers? Not necessarily. But it sure makes them feel like they have more money

4. Importantly is that there are still some really really good deals out there, and people are finally taking advantage of such. It appears that we are safely off any bottom and headed upwards, so many buyers are comfortable in timing this current trend.

5. Many properties can show positive cash flow with regards to long term rentals or vacation rentals. For many years, this just wasn't feasible, but it is now apparent that many sales prices are lower than their comparable rental prices. So there is a lot of appeal to investors that don't even need property appreciation, just income.

If you have any questions about these specific issues or St. Thomas Real Estate in general, feel free to give me a call.

Kirk Boeger
340-244-9387