House Prices  

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CptWally98
Posts: 11
(@CptWally98)
Active Member
Joined: 2 years ago

Hello St Croix.My husband and I have been trying to purchase a home in St. Croix since March 2017, ( A previous house deal fell through) IMHO, it appears that the asking price for houses has increased since the hurricane. Does anyone know if this is true and if so way?

19 Replies
speee1dy
Posts: 8723
(@speee1dy)
Expert
Joined: 11 years ago

why would be because thats the price people are willing to pay.

did you think you would get fire sale prices just because of a hurricane

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islandjoan
Posts: 1724
(@islandjoan)
Trusted Member
Joined: 12 years ago

I'm sure that asking prices depend on the owners and what they think they can get for their property, or the realtor's advice based on comps.

Maybe the home you want to purchase suffered no damage, and now they think they can get more for it?

If the deal fell through it would be helpful to know why. There might have been a problem with the property or just could be the buyer's financing fell through.

So many variables not easy to know why.

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CptWally98
Posts: 11
(@CptWally98)
Active Member
Joined: 2 years ago

No, not fire sale prices, but at least the same, not higher.

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singlefin
Posts: 854
(@singlefin)
Trusted Member
Joined: 5 years ago

The national economy is getting better, so prices are going up nationwide.

Rumors are circulating on St. Croix that theres a good possibility of the old Hovensa plant restarting the refining of crude once again. The same rumor includes a very large increase in the number of new employees (3000-4000 people). Before Hess shuttered the plant, a little over 2000 were employed there. This would be a massive boost to St. Croix's economy and real estate prices will climb upward.
The increase in prices may have already begun due to just the rumors.

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