We have to agree with our clients, The Runkle Family. St. Croix views never get old. They shared their 20-year Caribbean adventure that led to buying a home on St. Croix with us for our most recent Featured Client blog.

Speaking of spectacular views, Mario and I enjoyed an incredible vacation in June. A cruise along the Adriatic coast took us to Italy, Greece, and Croatia. Our favorite stop was Dubrovnik, Croatia — perhaps one of the most enchanting cities we have ever seen. In Split, Croatia, we saw a boat that looked very similar to the St. Croix-St. Thomas ferry. The architecture and food were fabulous every step of the way. And aren’t we lucky that the end of vacation means returning to St. Croix?!

On June 1, a new tax agreement between the U.S. Virgin Islands and Airbnb took effect. This affects all of our clients who use Airbnb as a booking platform for their vacation rentals. The main takeaway is that Airbnb will now be collecting the Territory’s 12.5% Hotel Room Occupancy Tax on behalf of hosts and remit the funds to the Virgin Islands Bureau of Internal Revenue.

Last weekend was the 21st Annual Mango Melee and Tropical Fruit Festival — and it appeared to be the biggest one yet! More than 100 vendors were out peddling their goods to over 4,000 attendees. And Kristi was even a judge in the Mango Dis Mango Dat recipe contest. Check out the St. George Village Botanical Garden Facebook page for photos from the event.

I’m humbled and honored to have received the Coldwell Banker International President’s Elite Circle Award for the fourth consecutive year. Thanks to all who have trusted your properties to Kristi and I. Looking forward to many more opportunities to serve you!

 

Other News:

Island elements can be hard on appliances. And since appliances can be expensive to replace, it’s worth it to invest in basic maintenance and repairs to make them last as long as possible. Try these simple island appliance maintenance tips from Coldwell Banker St. Croix Realty and Sublett Appliance.

May 2017 Market Watch:

This year is off to a busy start and we couldn’t be enjoying it more! Not only has the real estate market been hot, the island has been bustling with activity. And this month we’ll witness two of the most anticipated celebrations of the year.

The 48th Annual St. Patrick’s Day Parade will take place on Saturday, March 18, in Christiansted. As you may know, we like to celebrate – for reasons big and small – here on St. Croix. The history of the Parade is the perfect example of how spontaneous and enthusiastic we can be!

On March 31, 2017, the U.S. Virgin Islands will honor the Centennial Commemoration of Transfer Day. We look forward to taking part in ceremonies and celebration on St. Croix to mark this historic moment. Don’t forget that the USVI is offering $300 in spending credits to anyone booking a 3-night hotel stay between now and December 31, 2017 (book by October 1) to commemorate the Transfer Day Centennial.

It certainly doesn’t stop in March though. The 4th Annual Coconut Cup SUP Festival is March 31 – April 2, followed by two culinary events that are sure to entice you. Taste of St. Croix, April 5-9, celebrates the flavors of our island by showcasing more than 50 local chefs, restaurants, and farms. St. Croix Food & Wine Experience, April 7-10, is a series of mouthwatering events benefiting the St. Croix Foundation.

We’re looking forward to seeing our good friends, Bob and Michele Freiburghouse later this month too. It’s hard to believe we met nearly 20 years, five real estate transactions and countless good times ago! Check out their interesting St. Croix story on our blog. See you soon, Bob and Michele!

Warm regards,
The Fedeles Team

On March 31, 1917, the Danish West Indies were ceded to the United States by Denmark in exchange for $25 million. The original interest in the islands was primarily their strategic location — a much-needed foothold for the Navy and, later, a base to guard the Panama Canal.

One hundred years later, the United States Virgin Islands is a tourist destination or home for Americans, Danish, and many others who appreciate the tropical location. On St. Croix, the Contessa Castle is now on the market for $15 million. The times have changed!

To commemorate the 100th Anniversary of Transfer Day, the USVI is offering $300 in spending credits to anyone booking a 3-night hotel stay between now and December 31, 2017 (book by October 1). Imagine the fun you could have with an extra $300 — and we could find time to see a few houses for sale too!

As for St. Croix real estate, we have definitely seen an uptick in residential and condo sales, as the most recent Market Watch stats show (see below). As an overview, the residential market has been most active in the $400,000-$800,000 range with well-priced inventory moving in a matter of weeks. Further, condos priced right are also seeing offers quickly after going on the market. We listed a unit in Coakley Bay for $329,000 and it was under contract within 17 days. Similarly, a listing in Boetzburg was listed for $779,000, received an acceptable offer in 50 days, and closed in a total of 70 days for $725,000 cash. We’re feeling very positive about St. Croix’s real estate market conditions.

In our past newsletters, we’ve shared Featured Client stories from buyers who we’ve helped find their St. Croix home, so this time we thought we’d share a seller’s story. With a strategic home valuation and excellent photography, we were able to sell Mia Pirnat’s Magical Yoga Retreat home quickly and at full price. Would you like to discuss your home value and its potential in the current St. Croix real estate market? Give us a call at 340-778-7000 or shoot us an email!

During this time of thanksgiving, we have a lot for which to be thankful. We’re delighted to see familiar faces return to island for the season. New shops and restaurants, like Adorn and BREW STX, are popping up. Tourists are strolling the streets and basking on the beaches. The real estate market continues to trend in a positive direction. WAPA is even working to lower costs and increase reliability!

We’re grateful to have some fabulous new listings. Keep up with what’s new by following us on Facebook and Twitter where we post just listed properties, price reductions and updates. Perhaps the island’s most notable listing yet is that of the Contessa’s Castle, which was even featured in The Wall Street Journal.

In October, I attended the Coldwell Banker Generation Blue conference which is our largest annual networking and symposium event. I was fortunate to network and learn from some of the top agents in the world, and in an ambiance alive with energy and cutting-edge trends for our industry. I especially appreciated the invitation to attend the Coldwell Banker Previews Certification course, which offered workshops and success stories from top producing brokers from around the world. I’m looking forward to implementing some new ideas for our St. Croix luxury home market. And one of my new workshop buddies shared a recent story of selling a home to a Chicago Cubs player!

I’ve also had the joy of reconnecting with Betty Silander (pictured with two of her sons) and she was kind enough to share her St. Croix past, present and future story with us. I first met Betty when she owned The Waves at Cane Bay back in the 80’s. She actually saw a newly listed condo in my May e-newsletter and decided it was time to own on St. Croix again.

As we move into this holiday season, know that we are thankful to have you as clients and friends, and that you welcome us into your inbox every other month. Wishing you happiness and health this season and always!