condo row

I'm also looking at Condos, Mill Harbor looks nice on the MLS but I've read about crime and sewerage problems in that area. Is this still true?

I assume this question is about the condos available west of Christiansted on the north shore in St Croix.

Cindy
many of the condo develoments along the area have worked to improve themselves and in some cases have gone way up in price. However I would never buy there for two reasons. The nearby projects(government housing) make it unsafe to leave your gated area. Paradise should not need steel bars on your windows.

Secondly the Virgin Island government decided to dump it's s##t off one of the most beautiful beaches on St Croix. The sewage outfall backs up regularly and you find yourself snorkeling among floating brown t##ds. Until crime and sewage is controlled those condos are way overpriced.

I agree with the high priced - foul beaches - and surrounded by projects view. We couldn't give away Mill Harbor etc units several years ago and some were a good buy in the low 40's - now prices have gone up, but the problems have not gone away (They never will). OK for rental by Hovensa etc for employee housing - OK for someone who wants a no hassle property on island (monthly fees are a bit steep).
For an investment property - too expensive at the moment and too many problems to deter future renters or purchasers.

Interesting thread- I own two units at Mill Harbour and have a slightly different opinion. When I looked there I took several things into consideration and looked at dozens of places all over the Island.
1. When comparing prices to other condos in STX, the MH condos are a bargain and my budget really liked that factor. Yes, some of the units are rundown, but that is why they are still affordable. By the way, mine are no longer run down, they have been completely remodeled - as have many of the other units there.
2. I prefer Christiansted, so that worked. As for the projects being close, have you noticed that there are projects all over the place, you simply can't get away from them unless you located at the far East end where the prices are out of sight. St. C. also has a project right next door and the area surrounding Ocean Terrace is simply ugly and not even within walking distance of anything interesting.
3. The units are large - plenty of room to relax in compared to the 5-600 square ft of other places. Although St. C condos are beautiful, they only have one bedroom - harder to enjoy company. The two bedroom units at St. C. are 1200 Sq.Ft. and the 3 bedroom are approx. 1800 sq. ft.
4. There is a great restaurant right on site
5. The rental agent is on-site and she is really good.
6. It is on the beach, right on the beach. If I am going to live on an Island, I want the beach at my doorstep. St. C, Ocean Terrace and others don't have that.
6. They do have a crime problem, as do other areas of the Island, but they have also just replaced some members of the board, with more adjustments to come soon. In addition they now have a manager (they were without one for several months) and the new manager is making progress. The changes will make it safer and more attractive.
7. They have several capital improvement projects going on now that are upgrading and going to make a difference.
8. The sewage problem was several years ago, haven't had that problem that I know of for 5 - 6 years. That problem was a breakdown in the treatment plant, not an ongoing thing.
9. If you are buy property, you should look at the least expensive place in the neighborhood, then improve it, not the most expensive that others have already improved - unless of course your money supply is simply not a factor.
10. The building is all concrete - it withstood Hugo sitting over the Island for 18 hours with relatively little damage - and most of that was from the debris from other condos.

That said, there are problems of some kind everywhere you live, it is just a fact of life. Do your research and make sure you have a good real estate agent.
Good luck in your home search.
IAHawk

Whether or not you choose to wait a while before buying a property or go ahead and buy immediately once you locate something you like should depend upon your intended use of the property you purchase. If you are buying purely for investment purposes and expect to rent out your condo, then waiting to see if you personally like island life for the long haul isn't all that important. The investment would still be sound and the longer you wait to purchase the higher the prices will go. For some people just trying out the island, it may be to their advantage to wait a little while to be sure they are going to stay and that they know where on the island they fit in best before selecting a property to purchase.

It is my understanding that the housing project near St. C's has been sold to a private developer and the tenants have been evicted and it is now vacant. I've been told the developer is planning to tear it down as part of an overall plan for constructing a high-end community complete with hotel, casino, houses, condos, etc. That would likely push values in that area higher and higher once the permits are approved and the construction begins. But many developers have had plans through the years and some never come to pass, so there's no guarantee of what will be happening in this area in the next few years. It's still a wait and see situation.

The dumping of sewage from the pipeline that comes out next to Mill Harbour does still occur now and then. Stories appear in the Avis a few times each year with warnings about the elevated levels of certain bacteria in the water there due to dumping when it occurs. It's not an all the time problem but it's something to be aware of.

The vacant land west of Mill Harbour is supposed to have new condos going up on it but I've been told that the developer started without waiting for the permits and has been shut down for a year. That's one of those things that may change once the new governor is in office if changes are made at DPNR and CZM and the building permit office.

Mill Harbour does have a lower purchase price for its units currently than most other complexes on the island. They also have one of the higher HOA monthly fees, though, which doesn't always make them the best overall deal. Your monthly total payment may be the same with them as it would be with a more expensive condo in another complex where the HOA fees are a few hundred lower. Different complexes get different rental rates, so if you are buying for investment purposes and plan to rent out the condo, do your homework to see where you would get the best bang for your buck. The different HOA's also include varying combinations of services for their monthly fee and you should make up a spreadsheet of what is included at different places to really get a true comparison of what you are looking at.

Allen - I've emailed you a write-up on many of the condo complexes on the island that provides some basic info that many buyers find useful in their evaluation process.

Hello Allen,

I was trying to buy a condo there in St. Croix. Let me fill you in on what I have learned and experienced. First of all, don't even think of trying to buy a condo on a cheaper scale, for instance, Long Reef listed at 66k or less. The real estate agents won't even talk to you. Secondly, don't even think about buying a condo that is self-insured unless you can find out if the condo has a policy for 1M plus, you won't get financing for it.

I've also learned that most agents will not even respond to your emails unless you get in a condo that is beachfront, excessive HOA fees are involved.

I mention this because, first, I am retired, and I don't want my money tied up in living paycheck to paycheck or paycheck before paycheck that I can't leave the islands and return to the states during hurricane season.

Do your research, find out what the VIN numbers are on your car, if it doesn't begin with 1 or 4, then you will have to pay additonal monies to ship it because it wasn't manufactured in the U.S., go figure, anything not made in U.S. will impose higher shipping fees. What's made in the U.S. anymore, everything is outsourced!

Find out how much it will cost for deposits on utilities. Find out which insurance company have travelers insurance in case you need to be airlifted to Puerto Rico for a medical emergency.

I also found out that this island has Tarantulas, Scorpions, Centipedes, Jack Spaniel wasp-allegedly meaner than the wasp here in the states, tree Boas, Mongoose, and No-see-ums, flying termites.

I am not trying to discourage you from moving there, but try to find out all the information about this island that you can, especially if you are traveling with family members or even a female significant other/wife that may not be to impressed with these type of pests.

Good Luck

Anjell, these are all things you could have easily found out on this message board. I'm a little taken aback that you didn't think a tropical island wouldn't have bugs. Critters like that always seem to flourish in a tropical (humid) environment. I can count on one hand and one finger the number of people i know that have seen tarantulas or scorpions, those are much much rarer. Centipedes and their cruncher relative the gongola (millipede)are easily taken care of with a monthly visit from a company like Terminex.

There are always hungry agents that will sell you a condo or house no matter the price. You are prolly not used to the way things are done here. It is harder to get calls back here you have to be pushy or at least call them back. Things are not done in a hurry here. Condos are usually easier sells (ie much better chance the home inspection will go smoothly) etc. Plenty of land that sells here for $25k and it gets sold all day long. I do NOT recommend a home inspection here. Get a good plumber, electrician, etc to look at your house. Home inspectors have very limited experience and island homes are complicated because they are usually custom built and custom built here doesn't always mean built well. Or at the very least do not depend SOLELY on the home inspector.

Although i do take exception to Alexander's opinion that you do not need to wait to buy an investment property. I think you should at least take a month or two and find out all the info you can about the island. Anytime you are putting down a couple of hundred thousand I hope you take your time and research it and the island. And realize as so many people don't who buy investment property here do not. You are buying the condo as an investment, you may only break even on the the vacation rentals. And that is still a good situation as hopefully you condo value is going up.

Betty - I didn't suggest that people who purchase investment properties shouldn't do their research. What is more often recommended to people moving here by many on this board is that they wait 6 months to a year to purchase a property to live in to make sure they are going to remain on-island. That proviso doesn't have the same necessity for people who are purchasing investment properties and living on the island themselves isn't part of the equation. They do need to do their homework, but living here for 6 months isn't really a necessary part of that process. I work with many investors who won't move to the islands for years, if ever, but they do want to purchase an investment property to rent out. Many of them have similar properties in multiple locations on the mainland. Since many investors make their purchase decisions based primarily on the financial factors of a rental property, they don't always feel it is necessary to purchase a property they would personally prefer to live in if the cash flow is better in another location.

Anjell - while it is true that there are agents who won't be bothered working with buyers in the lower price ranges, there are exceptions. I still have all the emails we have exchanged in a file in my Outlook and when you decide you're ready to move forward I will be happy to help you in whatever way I can with your search.

First Bank does have a program where they can finance some of the "self-insured" condos, but they may not be willing to finance every complex out there. For example, they will definitely finance Questa Verde.

Hello Betty,

Wow, this is funny. But yes, they will not talk to me. Seems all of them don't know the ABC's of selling - Always Be Closing, and the fundamentals of selling, "everyone is a potential client, never turn down a sale." "Follow the Money."

But, I kid you not, since I am not willing to fork over a large amount for a beachfront property, they kinda brush me off. I was shocked. I understand they all want the "steak and potatoes," yet, they don't seem to understand that sometimes you gotta take the "bread and butter."

LOL, I would love to have steak and potatoes every night, but I can't.

Besides, I know that owning a beachfront property is more headaches than it's worth. For instance, water damage, mold...I would have been happy with just a view. Go figure.

I know there is more to this story. I know many of the agents on this island there is no reason they wouldnt have help you with a quick sell.

Get with Alexandra, she WILL answer all of your emails and questions. I would recommend St C over the others on condo row. However they are large 1200 sq. ft.1 bedroom units, with a great view. They have risen in price about 150% in the last year and a half since we bought, and are more than the ones by the projects. much safer area. IMHO.
They don't have a beach, as they are on a bluff about 60 ft overlooking the rocks below. However in BAD weather I think it is less likely to incur flood damage from big waves.