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Offering the finest Virgin Islands Beachfront Properties in the U.S. Virgin Islands. Virgin Islands Beachfront Properties is some of the most desirable in the world, and we are here to help you simplify the process of buying your next Caribbean property. We are experts in all aspects of Virgin Islands real estate – from St. Thomas real estate to St. Croix real estate, as well as Water Island, St. John real estate, Great St. James Islands and Commercial properties. Complete dedication to our clients’ best interests allows us to find an ideal Virgin Islands home for every customer, regardless of criteria.
Weekly Article September 16, 2013
Just left NYC and met with top agents and we agree business is booming. It is so funny you beg people to buy when the market is down and they do not believe you. Well now I have a few people starting to cry that they missed some steals. There are couple left, but when they are gone their place in paradise may not be so easily gotten. Buy now . Seriously .
Weekly Article September 9, 2013
There are certainly signs of recovery in the St. Thomas market with Margaritaville Hotel proposed to be built on the east end of the island. There have been in the last three weeks sales of home for &7.5M, $3.3M, $2.8M and $1.5M. There are several new commercial projects on the east end including warehousing, commercial rental product, retail and professional office condos. This rebirth of the confidence in our real estate market demonstrates that buyers who could afford to buy any where in the world prefer St. Thomas for their investment. It is just starting so now buyers can find some excellent buys in the Virgin Islands and there are still a couple I keep in my hip pocket in St. Barts. My agents are available 24/7 to respond to your requests and will handle your purchase with helpful and caring advice and we love our profession and it shows in the many people we have served. Call us it does not cost anything to look. (:
NAHB is projecting 993,000 total housing starts in 2014, up 6.7 percent from last year’s total of 930,000 units.
Single-family production is expected to rise 26 percent in 2015 to 804,000 units. This is a good beginning, but is still well below a normal level of 1.3 to 1.4 million single-family starts.
On the multifamily front, NAHB is anticipating 358,000 starts in 2015, up 2 percent from 352,000 last year.
The sale of new single-family homes is expected to hit 564,000 this year, a 29.3 percent increase above last year’s 436,000 in sales.
Meanwhile, residential remodeling activity is expected to register a 3 percent gain this year over 2014.
The ongoing housing recovery will see single-family starts steadily climb from 49 percent of normal production at the end of the third quarter of 2014 all the way up to 90 percent of normal by the end of 2016. Examining the recovery on a state level, by the end of 2016, the top 40 percent of states will be back to near normal production levels, compared to the bottom 20 percent, which will still be below 75 percent.
David Berson focused on household formations. The number of new household formations was far fewer in the current economic expansion than in previous recoveries.
Given the job growth we’ve seen in 2014, there should have been better household formations. The slower pace may be because the real acceleration in job growth has occurred just recently – in the last six months. As the economy and job growth continue to strengthen in 2015 this will be a significant factor to encourage people who have doubled up to move out on their own.
Moreover, the real slowdown in household formations has come from the Millennials, who have suffered disproportionately from stagnant wage growth and student debt. However, this key demographic is getting older and ready to set down roots. The leading edge are now in their young 30s. Homeownership desire is much higher for those who are in their 30s than those in their 20s.
Frank Nothaft also foresees a good year for housing.
Freddie Mac is projecting 3 percent economic growth in 2015, which would only be the second year in the last decade that we’ve seen growth at that level. A stronger economy supports a rise in household formation and home buying.
Not quite as bullish as NAHB, Nothaft expects that housing starts will rise about 15 percent in 2015, and that home sales will be up 4 percent, which would be the best year for home sales since 2007. He added that nationwide home prices this year should increase about 3.5 percent to 4 percent above last year’s level.
With 30-year mortgages currently running at about 3.75 percent, Nothaft called them “dirt cheap” and said he expects rates to rise this year but remain at affordable levels.
Original Source: National Association of Home Builders
- Home values will appreciate by 4.4% in 2015.
- The cumulative appreciation will be 19.3% by 2019.
- That means the average annual appreciation will be 3.6% over the next 5 years.
- Even the experts making up the most bearish quartile of the survey still are projecting a cumulative appreciation of 11.7% by 2019.
Individual opinions make headlines. We believe the survey is a fairer depiction of future values.
Original Source: Keeping Current Matters
“Consumers are as positive about their personal finances at the start of 2015 as they have been since we launched the National Housing Survey in 2010, and this optimism seems to be spilling over into housing market attitudes,” Duncan said. “Consumers are more optimistic about the environment both for buying and for selling a home today, and the share who plan to own on their next move has jumped back up, reversing a three-month trend toward renting.”
The share of respondents in Fannie Mae’s survey who said their household income is “significantly higher” than it was a year ago climbed 4 percentage points to a survey high of 29 percent, the company reported. Looking ahead, 48 percent said they expect their finances to improve in the next year, also a survey high.
Overall, 44 percent of Americans said they believe the economy is on the right track, an increase of 3 percentage points and only five points less than those saying the economy is headed the wrong way (49 percent).
That optimism spurred 66 percent of those surveyed to say they would buy a home if they had to move, a jump from 61 percent at the end of 2014. The share of those who would rent, meanwhile, slipped after three months of gains, falling to 29 percent.
“Overall, these are good signs to start off 2015 and are consistent with our expectation that strengthening employment and economic activity will boost the speed of the housing recovery,” Duncan said.
Original Source: DS News