David Fedeles, St. Croix Real Estate

Coldwell Banker St. Croix Realty

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Welcoming New Faces

August 14, 2018 by Team Fedeles

As many relief workers have begun departing over the past few months, we are preparing for more new faces to join us on St. Croix. With the news that Oil Refining On St. Croix To Restart, 1,300 new jobs will be created during the construction phase and 700 jobs once the refinery is open in 2020.

New jobs and faces certainly has an affect on the real estate market. The rental market remains hot with very little turnover/availability and for sale inventory is low. It’s still a Buyer’s Market for now, but we expect to see that shift as current residents land jobs at the refinery and new workers make the choice to grow roots. If you’ve been considering buying, now is a good time to make it happen. If you’ve been considering selling, let’s discuss a strategy to maximize your investment.

Speaking of new faces, we’re looking forward to welcoming Brian, Laura, Nordie and Sugar Weller to St. Croix from Minneapolis. We worked with them to purchase land last November and they’ll be making the big move at the end of this month. Brian will be the new Hotel Manager at The Fred. Thank you to Kathy and Randy, owners of Caribbean Breeze Apartments and Vacation Homes for the referral!

Read Brian and Laura’s advice about buying land on St. Croix, then take a look at the panoramic views of this Seven Hills lot. It’s priced exceptionally well for having Christiansted Harbor and South Shore views.

While real estate inventory is relatively low right now, we have an excellent assortment of condos available, ranging from $118,000 to $1,295,000. We recently took a stroll through the Club St. Croix Condominium complex. The views were breathtaking and the breeze was fabulous. We’ll leave you with this inviting photo…

Filed Under: Newsletters, Real Estate News

Featured Client: MPLS to STX

August 10, 2018 by Team Fedeles

Meet Brian, Laura, Nordi and Sugar Weller. They’re moving to St. Croix from Minneapolis this month. Laura and Nordi (a beagle/shepherd mix rescue) hail from Minnesota, but Brian is originally from Alaska and Sugar (a black lab mix) was adopted in Georgia.

    

Like so many St. Croix transplants, the Weller’s are leaving the mainland to slow down and enjoy life. “We’re not sad about leaving traffic jams, road construction and human noise behind.” Brian doesn’t like winter, while Laura doesn’t mind it, but both are excited for the adventure.

We are really looking forward to Sunday Fundays! We currently have a GO GO GO schedule/city/life and having a day to just relax is huge. Laura would probably say feeding a pig beer is a hoot and Mamma Wanna for me is a 2 for 1, but I have a sneaky suspicion that Sandy Point Turtle hatching and simply beach lounging will become hobbies for us!

The couple visited St. Croix for the first time in November 2017, when I met them, showed them a few plots of land, and they soon-after became landowners! During their trip they fell in love with the beauty of the island and the friendly Fredriksted people.

Their plans to move to St. Croix were escalated a bit when Brian landed his dream job of 10 years — to work at a hotel on a tropical island. Upon arrival, he will officially be the new Hotel Manager at The Fred. With obvious excitement, he describes his new place of employment as, “an inclusive, community-driven, earth-conscience hotel that brings a South Beach flare and mixes it with the already wonderful Crucian vibe that surrounds the island.”

Since their timeline was moved up, Brian, Laura and their 4-legged family will rent while they build their dream home on St. Croix. They’ve got the plans drawn up and are waiting until they’re on-island at the end of  August to apply for permits and start building.

In the meantime, they’ve been preparing for their move. Sorting through all of their things, they say it’s been hard deciding what to bring and what not. And as much as it stinks going through everything, they both agree it’s been very liberating getting rid of stuff. “We’re living in a nearly empty house and I don’t notice the things we truly do not need, but I didn’t want to give up,” says Brian. I think they’ll settle into island living just fine.

The Weller’s future view.

Thanks to a referral from Kathy and Randy Tiddark, owners of Caribbean Breeze Apartments and Vacation Homes, I met the Weller’s and knew just the place to show them based on their wishes. We had some good discussion about pros and cons between various plots and they ultimately selected the Butler Bay property. Our team is grateful to Brian for his kind words saying, “Kristi was also very helpful with the 1,000 questions we had. They both showed a great understanding of who we are as people instead of ‘clients’.”

Brian’s advice for someone considering buying land on St. Croix:

Remember why you’re buying island property. Think about what is important to you and dive in. You must trust the process too! It’s a bit different than we had experienced in the past, so taking a chill pill was needed. Don’t be afraid to offer what you WANT to spend and, obviously, use the Coldwell Banker team!

Filed Under: Featured Clients, Moving to St. Croix

The Top 20 Islands to Live on in the Caribbean

July 20, 2018 by Team Fedeles

Caribbean Journal published a list of the Top 20 Islands to Live on in the Caribbean and you don’t have to click far to find the U.S. Virgin Islands.

As the article points out, “There’s nowhere that is as procedurally easy to move to in the Caribbean.” As a United States territory, moving here does not require any type of special documentation to live or work. You won’t need to learn a new language or exchange your money. Your cell phone will work here (AT&T and Sprint). Even your pets can come here hassle-free.

“Hip” and “urbane” are words used to describe St. Croix in the write-up. We would add laid back, low-key, easygoing, and friendly. Many people choose to move to the U.S. Virgin Islands because of the ease of staying in the U.S. — many people choose St. Croix because of the relaxed vibe.

If you’re ready to take the plunge into the Caribbean, find resources for relocating to the Virgin Islands on VIMovingCenter.com. We’re also happy to offer advice to our clients who are making the move.

Filed Under: Moving to St. Croix

How does a hurricane affect real estate property values?

June 28, 2018 by Team Fedeles

One of many new listings that will make a great investment for a buyer

With hurricane season upon us, this Forbes article, Does Hurricane Damage Negatively Impact Your Real Estate Value?, is quite timely. The article references last year’s intense season and offers the prediction that 2018 is in for 14 named storms, six hurricanes, and two major hurricanes. Of course, the territory that those predictions covers is vast and it’s unknown where any potential storms may make landfall. But, how does a hurricane affect real estate property values in areas hit by hurricanes?

Reports show that hurricane damages actually cause housing market prices to go up. Therefore, as a real estate investor, you should be inclined to invest in properties that surround the Atlantic Ocean due to this positive impact from these natural disasters.”

According to the article, The Federal Reserve Bank of Dallas reports that a “typical hurricane strike raises house prices for a number of years, with a maximum effect of between 3 to 4% three years after occurrences.”

The St. Croix real estate market was right on target with Forbes’ assessment that real estate sales take a short-term plunge after a hurricane. “…reports show that home sales happen less frequent and at a lower cost immediately after a storm.” Naturally, homeowners are doing the necessary post-storm tasks, like assessing damage, making repairs, and cleaning up. Once recovery is in full swing, we have seen an increase in median prices and decrease in the median time on the market. This year, we saw an uptick in real estate about 4-6 months after hurricanes Irma and Maria.

The article also mentions rentals, which have been in high demand due to recovery efforts. Post-storm has proven to be a prime time to own a rental property on St. Croix.

Filed Under: St. Croix Real Estate Market

Talkin’ ‘Bout My Generator

June 14, 2018 by Team Fedeles

Standby (Backup) Power Systems provide electric power during Virgin Islands Water and Power Authority (WAPA) outages. Systems range from stationary (permanently installed), automatic, whole-house systems to portable, point-of-use generators and inverter generator equipment to just power selected small appliances, or devices directly. As Dave Schnur sings it, we’re talkin’ ’bout My Generator.

Application Rating
120/240 volts AC
Cost Fuel @ 50% load
Stationary – whole house or select circuits – licensed electrician – up to 22 kW+
-automatic, or manual
-with electric start option
$7,000-$10,000 -2-1/2 gal/hr LP
-options: gasoline, LP, or diesel
Portable – direct or select wired circuits – licensed electrician -5.5 kW direct power
-range 3.5 kW-8 kW+
-manual with
-electric start option
$700-$1,000 DIY, plus electrician for wired circuits -¾ gal/hr gasoline
-options: gasoline, or diesel
Portable inverter generator – direct – DIY -120 volts AC, manual
-1000 watts
-range 1 kW – 2 kW
 

$400

 

7 hrs+/gal gasoline

This Judith’s Fancy home has a 25 KW generator with automatic switch.

Stationary systems can be completely automatic and sized to power all of your electric needs. The system constantly monitors the WAPA utility power, senses when it is lost, automatically starts the engine and switches your house from utility to generator, all within a few seconds. Once the utility power is restored, the automatic standby system switches loads back to utility power.

Portable generators are a solution for a more mid-range load and price tag. Systems can be sized and installed to power selected, wired circuits and can be manually operated. This size range could provide stand-by power for lights, computer, television, and even refrigerator, washer and cooking. Air conditioning and electric appliances are possible with proper planning.

Inverter generators and battery inverters are more DIY for small load applications. Portable generators can power tools and small appliances, whereas inverter generators and battery inverters are limited to electronic devices, lights, televisions, and computers. Inverter generators often have USB charger ports.

To determine the generator size you need, list the watts for all electric equipment that will be connected, like refrigerator, range, microwave, washer, dryer, air conditioning, electric water heater, lights, etc. General online resources will help, but try to use actual nameplate ratings from your particular electronics. Motor loads from your refrigerator, washer, A/C, etc. require more starting power so double these watts.

These systems are commonly fueled by gasoline or propane, but can also be diesel. Remember that these fuels are highly flammable and hazardous. Your generator must be installed in a well-ventilated space, outside, away from combustible materials.

Generator tips:

  • Routinely test and service your standby equipment.
  • Gas has ~12-month storage life. Keep fresh gasoline stored.
  • Things to consider when placing your generator: service access, some engine noise while running, fuel source, potential for weather and flooding damage, and wind direction to keep engine exhaust directed away from open windows.

Filed Under: Life on St. Croix

Bonjour de Paris

May 16, 2018 by Team Fedeles

Last week I set off on a short getaway to Paris and, to my delight, I was greeting by two clients! David and Angela bought at Mill Harbour last year. I’m looking forward to connecting with them when I return to St. Croix to see how they have transformed their condo.

My travel companion is a dear friend and past client, Gail. We have very similar travel interests, which include plenty of shopping and culinary indulgences! I’m certainly enjoying taking in the incredible architecture and construction while here too.

We are staying in St. Germain des Pres on the Left Bank, which is a lovely area in Paris. We have been peeking through gates to see charming landscaped courtyards with gardens, garages, and townhome-style construction.

Gail and I before having one of the best lunches of our lives at Le Pre Catelan

The shopping is unbelievable as this is the fashion capital of the world. We have seen three-story Louis Vuitton stores on every few corners of ritzy neighborhoods, including the Fondation Louis Vuitton which is a spectacular and unique art exhibit sponsored by LVMH. The building was constructed in 2014 and designed by the world famous architect Frank Gehry. It is truly spectacular!

I have been wondering throughout what the square meter price of the retail real estate is, and how it might compare to that of Fifth & Madison Avenues in NYC. That has not been my intention to be shopping for real estate this trip! You can take the Realtor away from work, but you can’t make him stop thinking about real estate in every direction he looks!

Filed Under: David's Adventures

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About David Fedeles

Twice voted Best Real Estate Broker on St. Croix. Coldwell Banker President's Circle three years in a row. Read More…
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St. Croix and New York

David Fedeles is a licensed real estate broker in both St. Croix USVI and New York. If you are looking for your dream home in America’s Paradise, David is ready to work with you!

Contact David Fedeles today!

Tel: 340-778-7000
Cell: 340-690-4665
[email protected]
Office Location:
Coldwell Banker St. Croix Realty | Gallows Bay Mkt
5030 Anchor Way, Suite 12 | Christiansted, VI 00820

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