ST. CROIX REALTY

Message fromAmy…

W hether short- orlong-distance, it allseems to be about

travel this month. After 25years at The Buccaneer, ourColdwell Banker St. CroixRealty office moved at the endof May to new digs close to ourexisting Gallows Bay office. That’s a short distance

mileage-wise, but a big step for us since we’ve beenoperating from the beautiful Buccaneer for solong. We couldn’t ignore the fact that weneeded more space, so please stop by andsee what we’ve come up with in GallowsBay!In another sort of travel news, early in

May St. Croix’s Gold Coast Yachts launched aferry – designed by businessman Warren Mosler

– that will leave from Gallows Bay in St. Croix andthen from the Charlotte Amalie, St. Thomas waterfronttwice a day, making travel between the two islandsmore convenient. With a tentative $50 one-way ticketprice, it’s also less expensive. The ferry, dubbed the QEIV, is just over 100 feet long and is presently set-up tocarry 58 passengers. Gold Coast Yacht’s widely-admiredvessels operate from sites worldwide, but we’re lucky tohave these build/design gurus call St. Croix home.Finally, have you seen our Department of Tourism’s

“Nice” promotion? Air fares are typically lower in thesummer and fall, but this year travelers are also beingtempted with a free fourth night in a hotel and $350 inspending credit! The offer is good between June 5th andOctober 15th this year and must be booked by July16th. Participating hotels include The Buccaneer, ClubComanche, Club St. Croix, Divi Carina Bay Beach Resort,the Holger Danske Hotel, Hotel Caravelle, Hotel on theCay, the Renaissance Carambola Beach Resort, SandCastle on the Beach, Tamarind Reef, and The Palms atPelican Cove! http://www.visitusvi.com/package_and_promotionsTell your friends and get your family together to

spend summer vacation in St. Croix!

AmyAmy Land-de Wilde,

Broker/Owner

St.Croix Real Estatereviews

This newsletter written by Sandy Baldauf sandybaldauf@gmail.com CLICK

HERECLICKHERE

St.Croix Real EstatereviewsFeaturing Real Estate Market Updates

and Local News of St. Croix, USVI

JUNE 2016

l coldwellbankervi.com

l info@coldwellbankervi.com

l coldwellbankervi.com/vacationrentals

l Buccaneer Hotel 340.718.7000

l Gallows Bay Marketplace 340.778.7000

l Frederiksted 340.642.3333

Amy Land-de Wilde

The dramatic history of Lyric Sails’ sleek 63’catamaran Jolly Mon rivals that of the pirate

ships that once sailed the Caribbean, but, we remindyou, that was long ago. Since December 2015, EmilyWeston’s company, Lyric Sails, her captain MichaelHarper, and the catamaran Jolly Mon have beenproviding delighted passengers with sunset sails, fullmoon sails, stargazing sails, musical and fine-diningevents, and yoga andmeditationcruises.

Thesedays Jolly Mon ismoored at the lively Frederiksted waterfront, just ablock away from Lyric Sails’ own neighborhood store.The store — at 67 King St. — is stocked with recycledCruzan Rum glasses, t-shirts, and unique jewelryrelating to the sea and to Jolly Mon.

Emily’s path to owning Lyric Sails — described as“a unique sailing musical venue and chartercompany” — is interesting and makes good sense inretrospect. Equipped with an M.S. in marine biologyfrom Florida Atlantic University, Ms. Weston arrivedin St. Croix 12 years ago to work as a biologist on aSandy Point leatherback turtle project. She was not asailor at the time, but became a dive instructor whiledoing coral reef research for the University of theVirgin Islands. Between marine-related jobs, Emilyworked as an environmental educator, veterinarytechnician, SCUBA instructor and professionalphotographer as well as in various capacities in St.

Lyric Sails’ Jolly Mon

Scroll down for more

St. Croix Real Estate Reviews, page 2

Good news for hotel developers with big plansfor St. Croix, St. Thomas or St. John: On May

9th, Senator Kurt Vialet proposed that alreadyextensive hotel development benefits wouldcombine with existing tax incentives and separatetax increment financing benefits. The V.I.Legislature approved the measure withoutdebate.

In 2011, the Hotel Development Act enabledhotel developers to use funds typically owed forgross receipts taxes, casino revenue taxes andother V.I. taxes to pay off loans. As a result, adeveloper’s loans could be paid throughallotment of the tax money. Proponents of theAct argue that those tax revenues would not existat all if a hotel is not built and that a functioninghotel will create jobs and tax revenue in the formof income tax payable to the government. Theprogram would establish trust funds for each newdevelopment that qualifies, depositing hotel andcasino taxes from the development into the fund,which would then be used to paythe developer’s loans.

The Tax Increment Financing Act, signed byGovernor de Jongh in 2008, had similarprovisions but tighter accountabilityrequirements and was not aimed at hotels anddid not include casino taxes in the types ofrevenue allowed as loan collateral. Additionally,Vialet’s amendment permits tax money to bepledged for the repair or remodel of existingstructures, not only for new construction or newbusiness.

In St. Croix, developers who are hoping to buildat Williams and Punch, Robin Bay, and GreatPond stand to benefit from the measure.

Croix’s service industry — waitressing andbartending — all the while becoming well-versed in the presentation of tempting foodand drink. Meanwhile, her love for the seaonly increased.

When there was opportunity to purchasethe custom-built 63 ft. catamaran JollyMon, Emily and Lyric Sails stepped right up.Now, Jolly Mon’s guests cruise accompaniedby live music while they enjoy delicioussnacks, rum punch and, of course,spectacular scenery. Lyric Sails’ excursionsreceive rave reviews on travel sites such asTripAdvisor and, while she appreciates thecompliments, Emily is somewhat surprisedbecause, as a self-described perfectionist,her critical eye never stops looking for waysto improve the guests’ experience.

Asked to describe life on St. Croix andwhat she likes most about the island, Ms.Weston’s reply is quick and concise:“Crucians are authentic. The island is notoverly developed. There is a strong sense ofcommunity here; people look out for oneanother.”

To review Lyric Sails’ schedule or to planyour own special event, please go tolyricsails.com or call Emily at 340-201-5227.

Senate EncouragesHotel Development

Bill Clinton Visits St. CroixFormer

President BillClinton made abrief stop in St.Croix on May16th, but notfor rest andrelaxation. Theformerpresident washere tostrengthensupport for hiswife, HillaryClinton, at theJune 4th VirginIslandsDemocraticCaucus as shevies against theotherDemocraticcontender,Bernie Sanders,for pledgeddelegates. Although Virgin Islanders cannotvote in presidential elections, Virgin IslandsDemocrats will send 12 delegates to theirNational Convention in Philadelphia on July25th. Seven of the Virgin Islands’ delegates tothe Democratic Convention are bound by resultsof the Territorial Democratic Caucus and fiveuncommitted delegates - or “super” delegates –will participate by virtue of their prominent rolesin the Virgin Islands’ Democratic party.At the March 10th Virgin Islands’ Republican

Caucus, no one candidate received a sufficientnumber of votes to meet the mandatory 15%threshold required for a presidential candidateto acquire pledged delegates, therefore all nineVirgin Islands delegates to the RepublicanNational Convention will make their owndecision on July 18th in Cleveland – nosurprises there, of course, since only DonaldTrump remains in the Republican race. Clinton drew a crowd of approximately 200 to

St. Croix’s Island Center on the 16th. A numberof those attending donated for the opportunityto meet, photograph, and speak with the formerpresident prior to his prepared speech. Otherinterested attendees simply listened as Clintonaddressed the gathering for approximately 30minutes. As expected, Clinton contrasted theexperience and values of Hillary Clinton andDonald Trump. However, for Crucians inattendance, the highlights of his talk were hisassurances that Ms. Clinton recognizes theinjustice of Virgin Islanders’ inability to vote forthe president of the country that they serve andher acknowledgment that healthcare funds aredistributed unequally, thereby negativelyaffecting the Virgin Islands. Clinton alsoacknowledged the Virgin Islands’ centennialanniversary in 2017.

Amy Land-de Wilde meets Bill Clinton onSt. Croix.

St. Croix Real Estate Reviews, page 3

ST. CROIX REAL ESTATE MARKET WATCH249

2014-2015 AVERAGE DAYS MEDIAN 2015-2016 AVERAGE DAYS MEDIANSOLD ON MARKET SOLD PRICE SOLD ON MARKET SOLD PRICE

Home Sales 136 315 $257,500 150 320 $257,500 Condo Sales 135 272 $135,000 103 263 $144,000 Land under $39,999 37 352 $28,500 26 378 $24,000Land over $40,000 36 406 $90,000 37 451 $95,000Commercial 12 373 $287,500 15 454 $320,000

Information from the St. Croix Multiple Listing Service * The average sales price and the average days on marketcould be skewed greatly by only one sale or because of thesmall number of annual sales.

CLOSED SALES COMPARISON : 5/31/14 –5/31/15 VERSUS 5/31/15 – 5/31/16

e Good News…

The Numberof HOMESSold was UP 10%

during May this year,compared to May of

last year.

41A South Slob

T his luxury villa,constructed withexceptional

materials and superiorcraftsmanship, on theSouth Shore wasdesigned specificallyto take full advantageof the panoramic seaviews with comfort-able living in mind. Ithas 4 bedrooms and3-1/2 baths on themain level and alower-level 1-bedroomapartment. Thekitchen is outfitted with top-of-the-line appliances, granitecountertops, a large island with eat-in bar and serves as the focalpoint in the great room for a wonderful entertaining space. Eachroom opens to views of the Caribbean and the wrap around gallery,which your visiting guests will love! The large swimming pool, stepsfrom the gallery, overlooks the dramatic coastline of sandy beaches,turquoise waters and layers of rolling hills. All of this at a newlyreduced price! MLS 15-223 $1,495,000

ISLAND PROPERTIES94 Judith’s

FancyThis private and free-

flowing homelocated in the gated

Judith’s Fancyneighborhood has

four bedrooms, fourbaths, a refreshingswimming pool andample green space – the perfect home for a

family and entertaining! MLS 16-995 $499,000

6,7,8Marienhoj Privacy,dramatic SouthShore views andconvenience onthe East End.Build your newlife in America’sparadise on this

1.72 acre tract of land.

MLS 15-1175 $98,500

DEAL OF THE MONTH77 Anna’s Hope

Elegant Anna's Hope villa located in the gatedBuccaneer Bay Estates enclave has fourbedroom suites all of equal size, an open floorplan with soaring cathedral ceilings, refreshingswimming pool, Caribbean Sea views and forextra income, visiting guests or a caretaker , aspacious 1-bedroom,1-bath apartment with afull kitchen.

MLS 15-1619$995,000

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informationabouttheseamazingproperties!

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