St. John - Holiday Homes of St by wuyunyi

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									                                                                                St. John’s Oldest Real Estate Firm
                                                                                             Serving St. John Since 1960
                                                                                Edition 11                                 Fall Winter 2005
                                                                                    “The company that gives back to St. John”
          Miles Stair   Christie O'Neil   Jan Courlas   Corby Parfitt




                                                                                             St. John
  Janet Foote   Abigail Schnell    Jane Thill    Sarah Haynes   Lynn Giovanna   #1 Destination
ST. JOHN IN THE NEWS Fall 05: St. John has been
voted “Best Island in the Caribbean/Atlantic” by Conde Nast                       Estate                  parcel # Bdrms list price    Sold price
Traveler in their prestigious annual Readers’ Choice Awards                       Fish Bay                    93     0   $450,000       $400,000
poll and was also featured on the front page of the New York                      John’s Folly             1Cca-1    1   $600,000       $530,000
Times Travel Section October 23, 2005 for “places to snorkel                      Mandahl                 16-A-8-A 3     $650,000       $530,000
in the Caribbean.” St. John continues to maintain high                            Carolina                  10-20    1   $650,000       $625,000
                                                                                  Carolina                 6-3-129   2   $685,000       $675,000
visibility in the best travel publications and newspapers.
                                                                                  Mandahl                16A-2 Rem 3     $799,000       $718,500
St. John real estate sales continue to show strength by supporting                Carolina                   1-32    4   $799,000       $750,000
island industry with new villas for rental programs, construction                 Carolina                  6G-6     5   $750,000       $760,000
projects on all parts of the island, and all the related tourist                  Carolina                8-4-10B    1   $875,000       $800,000
activities that come with more visitors. As the numbers                           Chocolate Hole             122     3   $895,000       $800,000
below show, dollar volume and unit numbers continue to                            St. Quaco & Zimmerman 3B-8         2   $875,000       $875,000
                                                                                  Hard Labor               13Bb-2    4   $950,000       $935,000
trend upward. Several home sales over five million exemplify
                                                                                  St. Quaco & Zimmerman 6B-28        3   $999,000       $980,000
the top end of the market is strong and expanding.                                Pastory                   5FA-2    2   $995,000       $995,000
Island residents realize that high visibility increases the                       Chocolate Hole             443     2 $1,200,000     $1,040,000
need for cooperation and discussion on important issues,                          Contant                     3-7    5 $1,199,000     $1,100,000
such as the environment and responsible development that                          Fish Bay                200-C-1    3 $1,200,000     $1,100,000
secures our quality of life, and are working to keep them                         Carolina                   15-3    2 $1,150,000     $1,150,000
                                                                                  Carolina                    8L     2 $1,265,000     $1,200,000
on the minds and agendas of industry participants.
                                                                                  Fish Bay                147 145    3 $1,295,000     $1,200,000
Groups like Island Green Builders Association (IGBA) and                          Bethany                    1Db     4 $1,299,900     $1,250,000
the Coral Bay Community Council have regular meetings                             Mandahl                 16A-34A    2 $1,299,900     $1,250,000
to discuss ways of using appropriate new technology and                           Contant                    238     4 $1,395,000     $1,330,000
knowledge to benefit the island as it expands and grows.                          Contant/Enighed            203     4 $1,450,000     $1,375,000
                                                                                  Carolina                   7CB     4 $1,550,000     $1,450,000
There is also community interest in discussing the impact                         Chocolate Hole             130     2 $1,495,000     $1,450,000
of the new property tax assessments that have been                                Hard Labor               13Bb-8    5 $1,499,500     $1,499,500
mandated to be in place by next year. The VI Legislature,                         Carolina                   7Cd     2 $1,500,000     $1,500,000
as well as various local groups, are focusing on methods of                       Fish Bay                  71-20    4 $1,550,000     $1,550,000
changing and improving our tax system beyond the old                              Chocolate Hole             122     4 $1,675,000     $1,625,000
millage rate that has been in effect since 1936. Stay tuned                       Rendezvous & Ditleff 15-A-8-B-11 3 $1,999,999       $1,750,000
for more information.                                                             Annaberg                  4-0-1    3 $1,750,000     $1,750,000
                                                                                  Chocolate Hole             457     3 $1,950,000     $1,755,000
  ST. JOHN REal ESTaTE SalES COmpaRISON                                           Hansen Bay                 1A-3    3 $2,300,000     $2,300,000
            2004 YTD $     # 2005 YTD $       #                                   Sans Soucci & Guinea      3B-68    3 $2,400,000     $2,300,000
Residential $46,865,300 (39) $73,587,000 (43)                                     Chocolate Hole           300-65    4 $2,550,000     $2,350,000
                                                                                  Sans Soucci & Guinea Gut 3B-41     3 $2,525,000     $2,425,000
Condo       $ 5,565,000 (10) $ 8,102,000     (12)
                                                                                  Peter Bay                   6A     2 $2,700,000     $2,430,000
Land        $ 38,088,400 (80) $32,024,150 (54)                                    Chocolate Hole           300-67    3 $3,100,000     $2,825,000
TOTAL Sales $ 97,886,100 (155) $117,485,260 (138)                                 Sans Soucci & Guinea      3B-44    5 $4,200,000     $3,600,000
Numbers from St. John MLS as of 10/13/2005                                        Peter Bay                  12-2    5 $4,950,000     $4,000,000
Total includes categories not shown                                               Peter Bay                   7-4    4 $6,900,000     $5,900,000
                                                                                                                                          (continued)

  Holiday Homes was recently voted “Best Real Estate Services” in a readers’ poll conducted by St. John Tradewinds Newspaper
Estate                parcel   #Bdrms list price Sold price      Contant                    6-6           0.66         $825,000 $825,000
Susannaberg        2-3-A & 2-3   5   $8,995,000 $8,750,000       Hansen Bay               6-0-32           0.8         $850,000 $850,000
Total Homes Closed YTD in 2005 (43)             $73,578,000      Carolina                  10-8               4       $1,050,000 $930,000
average Sale price                            $1,711,116.28      Chocolate Hole         52,54R,53a  .42,.42,.03       $1,100,000 $930,000
                                                                 Rendezvous & Ditleff   15A-7-15          0.51          $995,000 $995,000
Development            Bedrms Baths      list price Sold price   Peter Bay                 11A            0.71        $1,625,000 $1,450,000
Serendip                  1         1    $375,000 $350,000       Carolina              10-10 Rem          2.62          $850,000 $1,500,000
Grande Bay Resort         2         2    $765,000 $767,000       Peter Bay                  7-3           0.65        $2,000,000 $2,000,000
                                                                 Hansen Bay             7A & 7C             18        $3,900,000 $3,900,000
Pastory Condos            1         1    $460,000 $410,000
                                                                 Total land Closed YTD in 2005 (54)                            $32,024,150
Grande Bay Resort         2         2    $699,000 $675,000
                                                                 average Sale price                                               $593,039
Palm Terrace              3         3    $725,000 $725,000
Palm Terrace              2         2    $575,000 $575,000        This is a recap of real estate activity on St. John taken from the St. John
Palm Terrace              3         3    $675,000 $660,000            Board of Realtors MLS and is for informational purposes only.
Palm Terrace              3         3    $675,000 $675,000
Battery Hill              2         1    $749,000 $710,000
Grande Bay Resort         2         2    $890,000 $890,000
Grande Bay Resort         3         2    $995,000 $990,000
Palm Terrace              3         3    $675,000 $675,000       Rotary’s Fifth Annual “Flavors of St. John” on Saturday, November
Total Condos Closed YTD in 2005(12)                $8,102,000    19 raised funds to assist with the purchase of a new ambulance.
average Sale price                                   $675,167    The event was held at the Westin St. John Resort & Villas Pavilion
                                                                 with live music, cocktails and cuisine donated by St. John’s
Estate                 parcel No. acres list price Sold price    culinary finest. Currently, St. John’s all volunteer rescue team has
Glucksberg                9-18C    0.25 $135,000 $133,000        only one 1994 Ford ambulance to respond to island wide calls. A
Emmaus                     8-45    0.29 $235,000 $185,000        second would ensure better response time, more efficient services
Fish Bay                    28      0.6 $209,000 $205,000
Glucksberg                 R-7     0.43 $210,000 $215,000
                                                                 and most importantly, a backup if the original ambulance is in
Hansen Bay                6P-2C     0.6 $225,000 $225,000        repair. For more information regarding St. John Rescue or to
Carolina                10-27-11    0.5 $290,000 $245,000        donate funds, please call (340) 693-RESQ.
Mandahl                  16A-9A    0.26 $299,000 $250,000        Rotary Club of St. John meets every Friday at 12:30 at the Westin St.
Fish Bay                   107     0.39 $275,000 $270,000        John Resort’ & Villas' Beach Café
Carolina                10-26-15 1.03 $275,000 $270,000
Contant                    12B     0.25 $295,000 $295,000
Hansen Bay                 6Z5     1.53 $300,000 $300,000
Enighed                   17C-2    0.26 $322,900 $322,900
Carolina                   7CF      0.5 $365,000 $335,000
                                                                 The Virgin Islands Territorial Association of Realtors (VITAR)
Carolina               10-10-13 R 0.51 $350,000 $340,000         honored Christie O’Neil as 2005 “Realtor of the Year” at
Carolina                 6-3-105   0.52 $350,000 $350,000        their annual meeting on St. Croix. The National Association
Carolina                 10-16H    0.52 $350,000 $350,000        of Realtors (NAR) then recognized all “Realtors of the Year”
Bethany                 1-U-3-C 0.28 $365,000 $350,000           from each state and territory at their annual convention in San
Carolina                10-10-23 0.54 $350,000 $350,000          Francisco. Christie is slated to be President of VITAR in 2007.
Emmaus                    17D-4     0.5 $350,000 $350,000        Congratulations, Christie!
Carolina                10-10-20 0.69 $350,000 $358,750
Enighed                   17A-2    0.32 $395,000 $375,000
Hard Labor              13-Bb-6    0.24 $395,000 $380,000        Knowledge of 1031 Tax Free Exchange procedures has become
Ben Runnels Gut             6S     0.79 $395,000 $382,500        increasingly beneficial as more Buyers and Sellers are doing them
Chocolate Hole             436     0.56 $399,000 $385,000        here in the US Virgin Islands. “It is a little known secret that
Chocolate Hole              14      0.5 $425,000 $405,000
St. Quaco & Zimmerman 6A-1-7       0.55 $425,000 $415,000
                                                                 St. John is a location outside of the continental US that qualifies
Calabash Boom            28B-2b    0.74 $445,000 $415,000        with the IRS as an acceptable exchange location” according to
St. Quaco & Zimmerman 6A-1-6       0.89 $449,000 $425,000        the folks at Asset Preservation (http://www.apiexchange.com/).
Hansen Bay                6-0-29    0.9 $450,000 $450,000
Sans Soucci & Guinea      3B-15    0.45 $450,000 $450,000        In a basic exchange the Exchanger sells a property (called
Sans Soucci & Guinea      3B-30    0.41 $495,000 $475,000        the relinquished property) to Buyer A and then purchases a
Sans Soucci & Guinea      3B-31    0.43 $500,000 $500,000        different property (called the replacement property) from Seller
Sans Soucci & Guinea      3B-66    0.42 $500,000 $500,000        B. A qualified intermediary holds the proceeds from Closing A
Sans Soucci & Guinea      3B-20    0.43 $500,000 $500,000        in escrow until the Closing for property B occurs (within 180
Chocolate Hole              23     0.51 $549,000 $545,000        days/ 6 months). The exchange allows the Exchanger to defer
Hansen Bay                6-0-39   0.71 $550,000 $550,000        the 15% long-term capital gains tax on an investment owned for
Carolina                  6-3-86    0.5 $589,000 $575,000        longer than one year and one day. Also deferred is the 25% federal
Sans Soucci & Guinea Gut 3B-24     0.41 $590,000 $575,000        tax on all depreciation (technically known as section 1250 gain)
Sans Soucci & Guinea      3B-66    0.42 $600,000 $600,000
                                                                 previously taken on improved property. State tax codes generally
St. Quaco & Zimmerman 6C-1B-2 0.37 $699,000 $600,000
Carolina                  6-3-76   0.75 $625,000 $607,000
                                                                 allow deferral of state taxes in line with 1031 but state laws should
Hard Labor               13Bb-5    0.26 $680,000 $650,000        be verified separately.
Fish Bay              200-c-2 Rem 1.11 $800,000 $670,000
Maho                        3-1    0.96 $1,500,000 $700,000
                                                                 It is important for your Realtor to establish a paper trail by using
St. Quaco & Zimmerman 6C-1B Rem 0.82 $872,000 $815,000           appropriate 1031 language in Listings and Contracts of Sale. Taxes
are deferred as long as the purchased property is held. They are        Homes of St. John Realtor for a list of 1031 professional
then due if the Exchanger sells the property and does not acquire       advisors or see our website at www.HolidayHomesVI.com.
a replacement property through a new exchange. The deferred tax
amount affords the Exchanger additional leverage with which to
purchase either a bigger, better property or more properties. This                                  2005
enhances return on investments.                                         Dec. 9:      Mongoose Junction’s Annual Christmas Party
A common misconception is that exchanges may be made only               Dec. 17:     “Christmas for the Animals” benefiting the
for property that is identical to the relinquished property. In fact,                Animal Care Center of St. John
all investment, trade or business property is “like kind”. So, for      Dec. 31:     Friends of the VI National Park’s New Year’s
example someone with an office building for sale could exchange                      Eve Gala
for single family rentals or that an owner of raw land could                                        2006
exchange for a retail center. Thus there is tremendous flexibility in
achieving investment goals.                                             Jan. 15:     St. John Yacht Club’s “Duke’s Trophy Race”
                                                                        Jan. 21:     Sprauve School Gala at Caneel Bay Resort
The IRS is strict about the exchange time frames and no                 Feb. 11:     Valentine’s Day Jazz in the Moonlight
extensions are allowed. Upon closing (selling) property A, the                       Concert
proceeds are held by a designated intermediary until closing on
property B. The Exchanger has 45 days to identify up to 3 or            Feb. 25:     8 Tuff Miles benefiting numerous charities
more (valued at not more than 200% of the original property)            Feb:         Folklife Festival at Annaberg Plantation
possible replacement properties, then must close on one or              Feb:         St. John Art Festival around the Island
more (property B) within 180 days of the original closing for
property A. There is no requirement that the Exchanger acquire          mar. 20–26: St. John Blues Festival Benefiting
an identified replacement property but no property will qualify                       The Safety Zone
that has not been properly designated during the initial 45 day         april 7–9: Ruby Rutnik Memorial Softball Tournament
period. Certain rules apply:                                            april 9:     St. John Yacht Club’s “Around St. John” Race
    • The value of the replacement property (or properties) must        april 11:    “Cocktail Sip” for the E.I. Sprauve Library
      equal or exceed the value of the relinquished property.           april:       St. John School on Gifft Hill Cabaret Fundraiser
    • All equity in the relinquished property must be exchanged         april:       Coral Bay Yacht Club flotilla/cartilla
      into the replacement property or properties.
                                                                        may
There are a variety of types of specialty exchanges including the       -St. John School for the Arts Annual Dance Recital
delayed tax free exchange when a property is purchased before the
property to be relinquished is sold, and the construction exchange.     -Annual Friends of the VINP Beach to Beach Swim
For more information on 1031 tax free exchanges ask your Holiday        -Commodore’s Cup Regatta benefiting KATS



       USVI Division of Tourism                                          www.usvitourism.vi
       USVI Economic Development Council                                 www.usvieda.org
       St. Thomas/St. John Chamber of Commerce                           www.chamber.vi
       St. Thomas/St. John Hotel Association                             www.sttstjhta.com
       Island Green Builders Association of St. John                     www.igba-stjohn.org/
       Kids and the Sea (KATS)                                           www.katsstjohn2001.com
       The Artists’ Association of St. John, Inc.                        www.stjohnarts.org
       US Virgin Islands National Park                                   www.virgin.islands.national-park.com
                                                                         www.nps.gov/viis/
       Friends of the Virgin Islands National Park                       www.friendsvinp.org
       Steve Simonsen, photographer                                      www.stevesimonsen.vi
       Mongoose Junction                                                 www.mongoosejunctionstjohn.com
       Skinny Legs                                                       www.skinnylegs.com
       Connections                                                       www.connectionsstjohn.com
       Jazz in the Moonlight                                             www.jazzinthemoonlight.com
       Local Anecdotes                                                   www.varlack-ventures.com/vvfiles/anecdotes.htm
       St. John Blues Festival                                           www.stjohnbluesfestival.com
       8 Tuff Miles                                                      www.8tuffmiles.com
       Coconut Coast Studios                                             www.coconutcoaststudio.com
                                                                7/23 Guy Benjamin School PTO and Coral Bay
                                                                      Community Council volunteers repaired and built a
5/7    St. John Rotary, in collaboration with the Department          new playground at the Coral Bay location
       of Public Works, repainted crosswalks                    7/27 The St. John Lion’s Club presented the V.I. Police
5/7    Pastory Gardens hosted “Cabaret Night” to benefit              Department with a check for more than $2,000 for
       the St. John School on Gifft Hill                              the Juvenile Delinquency Prevention Program
5/21   Pastory Gardens hosted the “Paws & Claws” Mini-          7/30 “Bar Wars 2005: Return of the Fifth” at the Beach Bar
       Golf tournament to benefit the Animal Care Center              – 14 teams from local bars and restaurants competed
       of St. John                                                    and raised more than $2,000 for the Animal Care
5/20   The 4th and 5th graders at Guy Benjamin School                 Center of St. John
       hosted a Spaghetti Dinner Fund Raiser for their trip     9/9 St. John Police Department received 10 shiny, new
       to Puerto Rico. They waited tables and raised almost           and fully equipped 2005 GMC Envoys
       $5,000 to help cover trip expenses                       9/17 As a part of International Coastal Beach Cleanup
5/22   Islands Blues hosted a hugely successful benefit,              Day, St. Johnians headed in all directions to assist
       which raised more than $7,000 for a trust for                  with the beautification of our beaches
       Tia Hernlen                                              9/17 First Annual Toga Party at Pastory Gardens benefited
5/28   John’s Folly Learning Institute hosted a Food & Bake           the Epiphany Theater
       sale to benefit the Institute.                           10/23 “Run Walk for the Cure” in downtown Cruz Bay
5/29   Friends if the VI National Park’s “Beach to Beach              raised money for the St. Thomas/St. John Chapter of
       Power Swim” raised awareness as well as funds for the          the American Cancer Society
       VI National Park
6/1    Ms. Clare Bole’s 2nd grade class at St. John School on       Please join us in giving back to our island!
       Gifft Hill presented The Friends of the VI National       If you currently have your property listed with another real estate
       Park (FVINP) with a book they made on Habitats.             agency, this newsletter is not intended to solicit your business.
       The class was a recipient of a $500 grant from
       FVINP                                                                  Please feel free to contact us at:
6/3    Allura catamaran hosted a snorkel sail to benefit
       the “Accessibility for All” Conference to help future
       visitors with mobility disabilities.
6/25   Kids and the Sea (KATS) held their 18th Annual                  Mongoose Junction and The Marketplace
       graduation at Skinny Legs
                                                                       Voice: (340) 776-6776 Voice: (340) 774-8088
7/3    Cultural Day in Cruz Bay celebrated 157th Anniversary
       of Emancipation. On July 3, 1848 enslaved Africans              Fax: (340) 693-8665   Fax: (340) 774-8042
       throughout the territory demanded and received their         Mongoose Junction Toll Free 1-800-905-6824
       freedom                                                           E-mail: info@HolidayHomesVI.com
7/4    St. John Festival! Lots of culture and music and of               Web Site: www.HolidayHomesVI.com
       course, the Food Fair, great music every night and the                    Our Mailing Address:
       parade were hugely successful                                540 Mongoose Junction, St. John, VI 00830-6105




      Holiday Homes of St. John
 540 Mongoose Junction, St. John, VI 00830-6105

								
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