USVI-On-Line

I haven't seen this mentioned here yet but my TiVo knew about it!

9:30 pm CST/10:30 pm EST Tuesday on HGTV...it re-airs 3 hours later, here in the CST zone anyway (so 12:30 am Wednesday CST).

do you know the name of the episode so I can look for it on Tivo?

MB: The episode is called "There's No Place Like a Vacation Home". In an interesting twist, the first home they view, and [spoiler alert] buy, "Fun and Contentment", was on our list to see in 2010, back when we were home shopping. We had about ten homes on our list, but were renting Coconuts, and as soon as we arrived, we cancelled the real estate tour. In a testimony to the impact of the overbuilding of the 2000's, and the impact of the great recession and its aftermath, Fun and Contentment was quite new at the time, and listed for either $1.3M or $1.35M, at the top of our range. Its listing price in the show was $795K.

It's probably the case that real estate prices on St. John have bottomed, and may even be beginning to rise, but there is a lot of inventory, and a number of overleveraged owners who need to liquidate, and are motivated to sell. The biggest loser, as it were, was the Qualcom exec who spent ten years building Presidio del Mar out above Peter Bay. He held the completed home for only a year, before listing it in 2008 for $32M. It finally sold in 2011 for $12M. Such a bargain!

All the best,

Kevin

Coconuts wrote: Fun and Contentment was quite new at the time, and listed for either $1.3M or $1.35M, at the top of our range. Its listing price in the show was $795K.

That is interesting. On vacation, my husband and I love to look at the listing and dream. I remember last year we were seeing the same house from prior trips at lower prices.

The house we rented back in 2010 (or maybe it was 2009) was listed for sale at $6 million. Today it is around $5 million after extensive renovations and additions.