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Job transfer to St. Thomas in February. Forsee at least a two-year stay. Does it make sense to purchase condo? Wondering how easy it is to sell. Currently looking for a short term rental while I assess where I should reside. Is the Villa Fairview Hotel okay?
Posted : December 5, 2005 2:13 am
Villa Fairview is fine. As whether to buy or not - I suggest you get here, look around and speak to realtors. What would be your long term plan. resell or keep and use as rental property? I think that makes a difference. My best advice is don't jump in right away.
Posted : December 5, 2005 8:45 am
IMHO, you should rent for a minimum of six months. It will take time to see if this is a place you want to live for 2 years. The condo market is kind of at a peak right now.
Posted : December 5, 2005 11:36 am
East Ender - can you elaborate on the "condo market a a peak now'....we are coming on Sat. this week and are going to be checking out the lower priced condo's, and possibly something that "needs work"....do you feel things are kind of overpriced at this time? Any feedback would be appreciated.
Also any recommendation of Realtor preference would be great from anyone!
Can't wait to escape this FREEZIN' weather!
Posted : December 6, 2005 2:44 am
Well, there was a frenzy caused by the influx of EDC money over the past couple of years. I know of units that were $70ish (circa 1999) are now $180ish. When people plop down big wads of cash, those who are thinking about selling someday seem to go ahead. I keep thinking it can't continue, but this is the time of year that people (escaping the cold! ;)) come down and buy, so... Let's see, as for a realtor, Rosie Nichols with Curreri 776-9292.
Posted : December 6, 2005 8:33 pm
EDC? money? more explanations....sorry 🙂 Yeah, I imagine if one came down in July the market would be a bit "flatter".
well, I can at least "escape" this weather NOW and aquaint myself w/ the island! 🙂
Thanks, now to find a place to stay for Saturday - Friday next week!
Posted : December 7, 2005 1:07 am
Sheela: The EDC (Economic Development Corporation- actually now EDA for Authority , I believe) program is designed to encourage businesses to come to the VI by giving them various tax breaks. They have a web site: http://www.usvieda.org/. Many of these are huge financial services companies with plenty of cash, making it difficult on the average Joe trying to buy a home. There was a similar run on the high dollar market for the CEOs, etc, but they also bought condos for their employees.
Posted : December 7, 2005 8:03 pm
