Team Fedeles, Author at David Fedeles, St. Croix Real Estate

St. Croix is Hippety Hoppin’

March 16, 2023 by Team Fedeles

With Easter on its way, we think it’s a great analogy – St. Croix is hippety hoppin’ – from an energetic Crucian Christmas Festival to a February full of activities, like Jump Up, AgFest, and Mardi Croix. Now the big St. Patrick’s Day Parade is just days away! And in a few weeks, beaches all around the island will begin to fill for Easter camping, a decades-old tradition.

The island also kicked off the new year with a presidential visit. St. Croix is a favorite vacation spot for Joe and Jill Biden, though this was the first time they have visited while serving as President and First Lady. Despite anyone’s political views, this was huge for St. Croix. Their visit brought worldwide attention to the island and it was neat to have Air Force One sitting on the tarmac at the Henry E. Rohlsen Airport (photo credit: Amanda Zak).

St. Croix has seen increased cruise ship traffic this year. We’ll see more than 60 ships throughout the season, which brings more attention to our island and attracts more tourists in the long-term. As for air travel, SCUBA also does a great job at providing a summary of St. Croix airline service. And if you’d like to see some spectacular footage of the humpback whale migration around St. Croix, scroll through SCUBA’s recent Facebook posts.

Our weather has been absolutely perfect – evenings of 72-degrees and highs of 82-degrees. And for the past week it has been so clear that we can practically see real estate signs in the yards of homes on St. Thomas!

Take a look at the most recent St. Croix Real Estate Market Watch below. If you have been considering putting your home on the market, now is a great time to get in touch. The average sale price is up by more than 40%! Given the sales activity and our understanding of the real estate trends, we can help you make the most out of your investment.

We’d love to help you buy or sell your piece of paradise. Call, text, or send us a note today!

Fall Island Vibes

September 27, 2022 by Team Fedeles

It’s officially Fall and St. Croix has all of the usual Fall island vibes. The coffee shops have even started serving pumpkin spice!

As we observed the 5-year anniversary of Hurricane Maria, we are amazed by how far our island has come. Our infrastructure is stronger and better prepared for what may come our way. One day shy of the anniversary, we weathered Tropical Storm Fiona. While the storm was long-winded (pun intended), St. Croix came out mostly unscathed. In fact, WAPA even received praise for performance during Fiona! Our property listings all fared well in the storm, a good sign that they are built to withstand island weather.

St. Croix intersections are now full of election signs. In November, the Virgin Islands will be voting for Delegate to Congress, Governor and Lt. Governor, local Senate seats, Board of Education, and Board of Elections. View the St. Croix Sample Ballot and save these dates:

October 9 – Last Day for Voter Registration (learn more about registering to vote)
October 10-31 – Early Voting (learn more about early voting)
November 8 – General Election Day

As we start to look toward next year, the 2023 USVI loan limits have been announced. If you have been considering a home or real estate investment purchase, we can help guide you through determining a budget and narrowing down the available inventory.

After a couple of quiet summer months, the Fall calendar is filling up. Halloween events are being scheduled, like Trunk or Treat at East End Marine Park, Goosebumps in the Garden and Frederiksted Halloween Spooktacular. Art Thursday and Jump Up are back. The Beauty & the Beast Triathlon is November 27 when Stephen will be defending his top ranking. And the the St. Croix Christmas Boat Parade and Crucian Christmas Festival are on!

You’ll see in the St. Croix Real Estate Market Watch below that listings are up compared to this time last year. We’d love to help add you to this positive trend if you’ve been thinking about listing your property. Call, text, or send us a note today!

2023 USVI Real Estate Loan Limits

September 22, 2022 by Team Fedeles

The 2023 USVI loan limits are now available from Schaffer Mortgage Corp. These represent large increases from last year.

Maximum loan amounts for conventional loans are as follows:

1 unit $1,073,000
2 units $1,374,000
3 units $1,661,000
4 units $2,064,000

According to Bonnie Rapine of Schaffer Mortgage the new loan limits are available immediately and the current 30 year fixed rates are in the 7% range.

50th Annual VI Agrifest is May 28-30

May 23, 2022 by Team Fedeles

2022 marks the long-awaited return of St. Croix’s ever popular Agriculture and Food Fair, also known as Agrifest. Since 1971, this three-day agricultural festival has attracted attendees from all over the world to the island to taste, touch and feel everything rooted in agriculture from locally grown fruits and vegetables to livestock, arts and crafts and local cuisine. From May 28th to May 30th, attendees will flock to the Rudolph Shulterbrandt Agricultural Complex in Estate Lower Love to celebrate the 50th anniversary of this cultural exposition that shines a light on this cherished source of livelihood on St. Croix – agriculture.

Historically, AgriFest is held each year in February over President’s Day weekend. Due to the ongoing uncertainties courtesy of the global pandemic, the event was postponed to May 2022 over Memorial Day weekend.

A few highlights experienced at St. Croix’s AgriFest is centered around the four F’s: food, fun, family and friends. Once you enter through the gates at the fairgrounds, the limitless sights and smells of St. Croix warmly greet you. The main exhibition hall on the west side of the fairgrounds is where the farmers market is held. There, attendees will encounter an assortment of fruits, vegetables, spices, and a variety of plants on display and for sale. Several exhibits sponsored by local schools, youth groups, the Virgin Islands Department of Agriculture, and the US Department of Agriculture can also be found on display.

There are lots of fun activities on hand for Agrifest- goers. Stop in at the livestock exhibits featuring animals such as goats, chickens, rabbits and peacocks. Visit the petting zoo, ride a donkey or hop on one of the carnival rides with the little ones for an extra dose of fun. Enjoy the melodic tunes from local musicians performing throughout the day and visit several informational booths throughout the fairgrounds where attendees can learn about a variety of agriculture-focused topics.

“This is a true Virgin Islands reunion,” said U.S. Virgin Islands Department of Agriculture Commissioner Positive T.A. Nelson. “This is where you see it all – our traditions, our food, and our people.” Get your fill of local delicacies like kalalloo, red peas soup, roast pork and salmon balls and wash it down with a tall glass of sorrel, limeade, ginger beer, peanut punch or passion fruit juice. Come out and celebrate the 50th annual VI Agrifest from May 28th to May 30th. Admission is $6
Adults, $5 Seniors, $4 Kids 12 and under. Passes for all three days are available for $12 Adults, $10 Seniors, $8 Kids 12 and under.

– from the Coldwell Banker St. Croix Realty enewsletter

Golden Opportunities

May 18, 2022 by Team Fedeles

IMPORTANT TRAVEL UPDATE: According to the VI Consortium, Governor Bryan is discontinuing the USVI Travel Portal effective June 1. Read the article

This weekend is the 50th Annual Agriculture & Food Fair, also known as Agrifest. The theme of this year’s event is “Agriculture: A Golden Opportunity to Grow” and will surely be one to remember. At Agrifest you can taste local cuisine, buy locally grown produce and plants, view agricultural exhibits, shop local arts and crafts, meet government and nonprofit agencies, and listen to live music. We’re thrilled to see our community coming together again to celebrate the bounties of St. Croix!

As we start to see trees getting heavy with golden fruit across the island, save the date for Mango Melee on July 10 at the St. George Village Botanical Garden. This one-day event celebrates the sweet and juicy mango with local food vendors, arts and crafts, live music, and an exhibit of the many varieties of mangos and other fruits found on St. Croix. 🥭

The USVI real estate industry has had some golden opportunities recently. The Virgin Islands hosted the U.S. Department of Housing and Urban Development (HUD) Secretary Marcia Fudge in early April. Secretary Fudge was here to meet with residents, local leaders, and elected officials about housing challenges and their experiences during post-hurricane reconstruction.

Then, in early May, the Virgin Islands Territorial Association of Realtors® leadership team headed to Washington, DC, to meet with Congresswoman Stacey Plaskett’s office. There we discussed formidable plans related to spending Federal disaster recovery dollars, affordable housing initiatives, and first-time home buyers assistance for the USVI. I am honored to be part of this group, and hopeful that our efforts will result in great things for the future of real estate in St. Croix and throughout the U.S. Virgin Islands.

If you have recently made St. Croix your home (or second home) or are considering island living, there is a Facebook group called New to STX. It’s a good place to ask questions and they host a monthly newbie gathering at Leatherback Brewing. Here are a few other resource groups/pages you might find useful:

Whether it’s time to sell your home or join the New to STX group, we’d love a chance to find your golden opportunity. Just give us a call or send us a note!

Warmly,
David and Stephen

2022 Max Loan Amounts for St. Croix

December 10, 2021 by Team Fedeles

The official 2022 maximum home loan amounts for St. Croix have been released.

Conventional

One-Unit: $970,800
Two-Unit: $1,243,050
Three-Unit: $1,502,475
Four-Unit: $1,867,275

FHA on St. Croix

One-Unit: $420,680
Two-Unit: $538,650
Three-Unit: $651,050
Four-Unit: $809,150

Thank you to Bonnie Rapine and Nathan Purdome at Schaffer Mortgage Corp for the update!