Real estate update 11/29/05

For the first week in three, there’s no change in the number of properties listed on  the Multiple Listing Service.  It has 75 residences for sale, same number last week.  And while that may seem like a lot – it is the highest I’ve ever seen – it’s not hugely different from roughly this time last year, when there were about 68 homes on the market.  We’ll keep watching.

Logo_2DPNR approval of zoning for Grande Bay, and a lawsuit from neighbors, have renewed interest in that development.  Grande Bay’s developers have begun to build a Web site at http://198.104.190.117/. So far it is woefully inadequate in updating contracted-buyers and the public know what’s going on. For instance, this posting.  The site has empty pages, like this on vacation rental information. It does say, "Opening Summer 2006". Give the Web site time, it’ll get better. I’m sure the units will
be beautiful … if and when.

The MLS is also showing 191 lots for sale (up from 189 last week,) 21 condos (from 19), and 14 commercial properties.

3 thoughts on “Real estate update 11/29/05”

  1. Reassessment means VI government gets more tax revenue to spend on hiring their relatives and friends and supporting NON BID contracts.
    Inflated False property values means locals can’t afford to pay taxes.
    Locals get foreclosed on by government and/or some developer and or their lawyer gets inside info and buys the land from the government.
    Or they simply sell to avoid the hassle.
    St. John mean anything?
    In turn–you build and build and build.
    Get those property development exemptions and exclusions and build, build build with Senators and oversight committees voting your land, your culture and your heritage away..
    Those NEW properties and villas and condos etc get taxed higher and higher.
    Government gets more tax revenue.
    And life goes on and on…
    See clearly?

  2. “And life goes on and on…”
    Until the folks who really pay on island, aka tourists decide that the island is being priced out of existance.
    Another hit for the local folks.
    But who knows, maybe I’ll be able to pickup a distressed sale at Peter Bay.
    /just saying

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