Kim Lucas’s Blog

If you are like me, and just can’t wait till you’re 65 to “retire” to the Virgin Islands, but are SO READY to quit your current job and start a new life, then this post is designed specifically for you!  I started a new career here, and many other folks have done the same.  Some have turned former “hobbies” into paying jobs.  It’s quite possible that you’ll be served a fine meal by a former CEO of a large company!

Read the full article with links you can use to research the job market at my Active Rain Blog.  Visit my web site on Retiring in the Virgin Islands where you’ll find plenty of information on the cost of living in St. Croix.

I’m very positive about our economy and real estate investments.  Contact me to share my enthusiasm about our wonderful island.  I’m livin’ my dream.  Are you?

Kim Lucas, REALTOR

kim@coldwellbankervi.com

340-626-3758

Friday, August 1, will see the commencement of a multi-year project to move the power lines in Christiansted underground.  The Virgin Islands Territorial Emergency Management Agency will break ground Friday on the lawn of Fort Christian.

The project, funded by the Federal Emergency Management Agency (FEMA) through its pre-disaster mitigation grant program, will speed the return of power to St. Croix in the event of a major hurricane.  The work will be completed in 3 phases, running concurrently, and could take up to five years.

Read the rest of this article on my St. Croix Localism blog.

Contact me to receive my monthly newsletter about the real estate market in St. Croix, or for a free copy of my report, Retiring in the Virgin Islands.

Livin’ the Dream in St. Croix,

Kim Lucas, REALTOR
www.retireinthevi.com
www.kimlucasvi.com
kim@coldwellbankervi.com
340-626-3758

One of the big decisions you will need to make if you are considering relocation to St. Croix is whether to build a new home, buy an existing home, purchase a condo, or rent. There are pros and cons associated with each choice. Here are several questions to consider that will help you in this decision process:

1.  How soon do you want to be “in” your own space in St. Croix?

2.  Would you be able to personally oversee a construction project in this tropical climate? Have you ever done this before? If you won’t be here, do you feel comfortable hiring a “general contractor” to be responsible?

3.  How much “square footage” do you want/need, beds/baths?

Read the rest of the questions on my Active Rain Blog.  Please contact me for a copy of my monthly newsletter on the real estate market in St. Croix, and with any questions you may have on buying property in the Virgin Islands.

Kim Lucas
www.retireinthevi.com
www.kimlucasvi.com
kim@coldwellbankervi.com
340-626-3758

(photo courtesy of John Ballard)

St Croix, in the US VIrgin Islands, has a rich heritage and is the proud home to the remains of over 80 sugar mills, which were used in the production of sugar and rum here.

About 50 years ago, one enterprising man built a replica of a sugar mill as his guest house. Then about five years ago, another ambitious couple turned this guest house into part of a larger home that is a wildly successful vacation rental (www.stcroixvilla.com).

This unique and historic property is perfect for those who love living close to nature. The huge deck includes a pool, hot tub, large dining table, outdoor lighting, and a knock-your-socks-off view of the Christiansted Harbor and Buck Island. The bedroom of the mill is very romantic, with beautiful wooden floors and ceiling, and lovely antique furniture. The bathroom features an open air shower - complete with plants and shells and coral walls. The property is covered with palms, fruit trees, flowering plants and has a wonderful tropical feel. The constant tradewinds blow and windchimes dance in the breezes.

The new addition consists of three large bedrooms, a large sitting area, and a smaller room that can be used as a sitting area or small bedroom. This home is perfect for a wedding party, family, or friends - especially those who love outdoor living. The home is located in a popular gated community located on the north shore about 10 minutes west of Christiansted.

The owners, avid outdoor lovers, want to sell this unique property and sail the islands on their boat! Asking price is $819,000.   Visit my web site, Retire in the Virgin Islands,  for more information.

Contact Kim Lucas
Coldwell Banker Land-de WIlde Realty
340-626-3758
kim@coldwellbankervi.com 

Many people desire to purchase a condo in St Croix to rent out and use occasionally.  

“Can you buy a condo here that will pay for itself?” is a question I am frequently asked.  Of course, there are a lot of variables that impact the answer.  Location and desirability of the condo; condo fees; property management fees; whether you want short or long term renters; and extent to which (and time period) you plan to use it! Read my blog on St. Croix Real Estate for more information.

Kim Lucas, REALTOR
340-626-3758
www.retireinthevi.com
www.kimlucasvi.com
kim@coldwellbankervi.com

If you are purchasing a piece of property here in St. Croix, AND you are getting title insurance (which will be required if you are getting a loan), then you must have an “as built” survey. Many customers are confused by what this really means, and how it differs from other types of surveys. Recently, a local surveyor (Gary Bourdon of Survey Services Co. in St. Croix) provided us with a brief explanation of the three most common types of surveys:

The AS BUILT survey is the standard survey required by lending institutions and title companies before properties can be conveyed or refinanced. The survey will be based on the recorded drawing of the property on file at the Cadastral Office. The survey will show any improvements to the property to determine that there are no structures that encroach on adjoining properties, or visa versa, and insure the position of the structures is generally within Zoning and Covenant and Restriction setbacks. The survey will also show all easement, rights of way, and servitudes that may impact the property IF THE CLIENT FURNISHES THE PERTINENT TITLE INFORMATION TO THE SURVEYOR. Horizontal control for an As Built survey is established by finding existing monuments which express the intent of the map on file at the Cadastral Office.

Read the rest of the post on http://www.kimlucasvi.com/index.php?action=addon_blog_article&id=8

Purchasing or selling real estate in the Virgin Islands can get technical. Contact me for current information and referrals to the appropriate professionals to protect your property.

Kim Lucas
340-626-3758 cell

Big news for St. Croix today! Governor DeJongh announced a wonderful landmark public-private initiative with Diageo (the world’s leading spirits, wine and beer company) for the construction and operation of a high capacity distillery on the island of St. Croix. This new facility will be very high tech and environmentally sound - and is slated to be completed in 2011.

Beginning in 2012, this distillery, which will have the capacity to distill up to 20 million proof gallons per year, will supply all bulk rum used to make Captain Morgan branded products for the US.

Needless to say, this will provide a major economic stimulus for the entire Territory of the U.S. Virgin Islands. Not only will it bring jobs, but Dejongh says it will also bring “a tremendous future stream of revenue and long-term source of funds that will go far towards solving many of the challenges we face as a Territory.”

The development of the new Diageo rum distillery will diversify the Virgin Islands rum industry, which enjoys an existing relationship with primary rum producer, Cruzan VIRIL.

Governor deJongh described the public private partnership with Diageo as “a real success story, one that we can all be proud of as Virgin Islanders.” He continued, “That we have attracted such a vast and successful multi-national corporation to our shores can only serve as a signal that we are beginning to work together to build the Virgin Islands of prosperity and opportunity.”

I am SO proud of this administration and have nothing but praise, respect and admiration for Governor Dejongh and delegate Donna Christensen. They have worked tirelessly to help these amazing Virgin Islands and this is a major accomplishment!

GET YOUR VI REAL ESTATE NOW because we are on the road to greatness! What an even more wonderful place this is going to be five years from now!

Many folks do not understand why they need a title search or title insurance.  The following information addresses what a title search does and what the insurance protects, and was provided by the folks at Island Title Services Corp. here in St. Croix.  I hope you will find it helpful.”A title search is the process of determining from the public record just what the rights of a property are and who owns them.  It is a means of determining that the person who is selling the property really has the right to sell it, and that the buyer is getting all the rights to the property that he/she is paying for.  In most real estate transactions, a title insurance policy is purchased to assure the buyer that he/ she has purchased a valid title.  in those transactions where title insurance is involved, the title company must determine insurability of the title as a part of the search process.  If a title insurance policy is issued, the title company will, at its own expense, defend the title and pay losses within the coverage of the policy if they occur. 

“There are several things involved in a title search for St. Croix property.  First, the chain of title is determined - that is a history of ownership of the property, telling who bought it and sold it, and when. 

“Next is a tax search, which is done to determine the present status of general real estate taxes against the property.  This search will reveal if taxes are current or whether any taxes are past due and unpaid from previous years.  In addition, the tax search will indicate the existence of any special assessments against the land, and if so, whether or not these assessments are current or past due.   Title insurance protects the buyer against loss from unpaid and past due taxes and assessments. 

“One of the most important parts of the title search is to determine if there are any unsatisfied judgments against the seller or previous owners which were in existence while they owned the title.  It is very important to be sure that a title is not subject to judgments against the seller or previous owners.  Title insurance provides this protection.   If a judgement is discovered that constitutes a defect in the title, it is pointed out, and the seller must then eliminate it before the title of the new buyer can be insured free and clear of that judgment. 

“When all these searches have been completed , the title company issues a commitment to insure, stating the conditions under which it will insure the title.  The buyer, seller and lender can proceed with the closing of the transaction after clearing up any defects in the title which may have been uncovered.  

“The lender is as concerned as the buyer about the quality of the title, because the property will secure the loan.  The lender requires assurance that it has a valid first mortgage lien on the property.  The lender’s title insurance, however, DOES NOT PROTECT THE NEW BUYER OF THE PROPERTY.  Although the land is the same, the interest of the buyer and the interest of the lender are very different, as are the provisions of the policies of title insurance.  The buyer should obtain his/her own policy, often issued simultaneously with the lender’s policy.”

Contact me if you have additional questions about the reason for title insurance in St. Croix, and how to protect your interests when you purchase St. Croix real estate.

Kim Lucas, REALTOR
340-626-3758
www.retireinthevi.com
kim@coldwellbankervi.com
Original post:  http://kimlucasvi.com/index.php?action=addon_blog_article&id=6

While enjoying one of our beautiful beaches the other day, I made a list of the 10 things I love most about living here, in St. Croix, US Virgin Islands.  When you dream of retiring on a Caribbean island, or “getting away from it all” think of the St. Croix lifestyle:

1. The amazing weather - 82 degrees year ’round, 20% chance of rain on most days.
2. The friendly people - smiles are abundant and locals as well as continentals are generally happy and friendly.  It’s easy to make friends here!
3. The laid back pace - no need to get in a rush - and there’s always time for a friendly greeting and chat. If you’re 15 minutes late here, you’re 30 minutes early!
4. 1000 colors of blue!  Well, maybe not that many, but there are so many colors of blue in our amazing crystal clear water!
5. No sox, no shoes, no problem.  If I have on LEATHER flip flops, I’m dressed up. Love it.  
6. Sunsets and sunrises.  No two are alike, and they are all amazing.
7. Friendly drivers and no traffic.  The drivers here are so courteous and nice - it’s customary here to let others in and out of traffic (and I use the term “traffic” loosely!!)
8. Great restaurants.  Unlike many Caribbean islands I’ve been to, where every restaurant has the same food, there are so many good and unique restaurants here! Not good for my waistline or budget, but yummy and fun!
9. Wonderful music.  I absolutely love live music (GOOD live music, mind you) and there are some great musicians here.  I’m a “regular” at every Kurt Schindler performance - and am a “self-proclaimed Schin-head!”
10. It’s HOME!  It’s the good ‘ol USA with all the benefits and protections that offers - and yet the culture of a Caribbean island.  What can be better than that?
11. Beaches on the west end - GREAT snorkling, crystal clear water, wonderful shelling, virtually deserted beaches (especially on weekdays….love to slip away!) oohh - I said 10 didn’t I!  

It’s hard to stop!  There are SO MANY wonderful things about living here on St. Croix!

Visit my web site for resources on retiring in St. Croix:
www.retireinthevi.com

and contact me for information on real estate opportunities.  I’m sold on the investment potential of St. Croix!

Kim Lucas, Realtor
kim@coldwellbankervi.com
www.kimlucasvi.com
340-626-3758

I recently read a blog post by a 3-year resident on the island, who said she was frustrated with real estate prices on St. Croix.  She shared some photos from a house she looked at that was listed near $300,000 - that truly needed quite a bit of work.  

However, this home has amazing views of the north shore and is located in a desirable part of the island.  She lamented about what $300,000 would buy here, as compared to what it would buy in, say, Texas.  Well, last time I checked, there were no awesome Caribbean views to be had in Texas.  If there were, I imagine you’d find prices there just as high, if not higher.  

We get spoiled here after a while.  It is easy to forget just how incredibly gorgeous this place is, and how desirable it is to live here.  If you compare our real estate prices with other Caribbean Islands, Hawaii, or other equally beautiful places, you will come RUNNING back to St. Croix and start gobbling up real estate as fast as you can!  

Yes, purchasing a home with a sea view is going to set you back a bit….but that’s the price you pay to live in paradise!  You can find reasonable homes and condos here - comparable in price to what you’d find on the mainland that are, say 15 minutes from gorgeous beaches….(again, let’s not forget where we live!!!)….but you’re not going to get that amazing view without paying for it!  

Prices here are VERY dependent on location (as they are EVERYWHERE) and VIEW.   A home with an amazing view for under $300,000?  Come on - that’s a STEAL of a deal!  Fix it up and you’ve got a half million dollar property!  Someone obviously figured that out - that home is now under contract…..

Kim Lucas, REALTOR
www.kimlucasvi.com
340-626-3758