Bahamas Real Estate Blog

Newest Bahamas Subdivision Pride Estates Opens

2011-12-09T09:39:00.002-08:00

PRIDE Estates Three was officially opened yesterday, the fifth Bahamas government subdivision to be opened and completed under the Ingraham administration.

Bahamas Housing Minister Kenneth Russell said this subdivision is in keeping with the Government's commitment to "reduce the presence of unregulated communities" in the Bahamas.

According to Mr Russell, the Bahamas Ministry of Housing has already constructed 480 houses and sold 237 serviced lots in this current term, with an additional 180 houses now under construction in New Providence, Grand Bahama and Abaco.

He said: "I am pleased to report that we have not only met our goal to construct 600 homes, but we have surpassed it. We have estimated that $63 million is needed to complete what we have planned and we will continue to move forward ever increasing our numbers until either the money runs out or my position expired."

Mr Russell said the development of the 27-acre Pride Estates Three plot and Fire Trial Gardens will cost around $17.6 million of which $7.9 million has already been spent.

"We have completed in Pride Estates 110 homes and 16 are under construction. We are also in the process of regularizing a number of squatters in this subdivision. We have also provided jobs for 52 contractors and their workers," he said.

"We are pleased that we were able to provide homes for Bahamians while at the same time contributing to the economic advancement of our country. These three-bedroom, two-bath, and two-bedroom, one-bath homes range from $83,000 to $135,000."

In addition to the homes, Mr Russell said the government is also building a children's park, a basketball court, a tennis court and maintaining a public open space with a pond.

Click here to view and read this entire article on RE/MAX Bahamas Paradise Realty.

Investing in real estate? Work with a professional.

2011-12-07T11:30:00.000-08:00

Today’s marketplace is full of investment opportunities. It's possible that this is the best time in a generation to invest in real estate.

If you have investing in mind - no matter how serious or modest your goals are - you need an experienced real estate agent on your side.

The Right Agent for You

RE/MAX, with offices in more than 80 countries, has thousands of agents experienced in working with investors, and specialists in all types of investment properties, from foreclosures to luxury homes.

Get the Facts

- With low prices, favorable interest rates and strong demand, most rental properties these days are generating positive cash flow.

- Homeownership rates are dipping in the U.S. This tends to drive rental rates up and keep vacancies down.

As we’ve all seen in recent years, housing values can rise and fall. But even when values are static or worse, those rent checks keep coming in.

Investing Can Be for You!

By the way, you don’t have to be wealthy to invest in real estate. In 2009, half of all residential real estate investors earned $75,000 or less.

Interested in seeing what's out there in the Bahamas real estate market? Search RE/MAX Bahamas Paradise Realty for current listings throughout the Bahamas and contact us for further information on the property. Questions about finances? Call us. We will be happy to assist.

Abaco's Serenity Point targeting $75- $100m build out value

2011-12-05T09:04:00.001-08:00

An upscale Abaco real estate development is targeting a $75-$100 million total value when its 46 home sites are fully built out, telling Tribune Business yesterday that the project expects to kick into high gear in the New Year after completing its first sales last month.

Gustaf Hernqvist, Serenity Point's project manager, said increased construction activity at the adjacent Schooner Bay development in south Abaco was helping to create a critical mass that encouraged potential buyers both projects were for real.

Telling Tribune Business that construction on Serenity Point's clubhouse was set to begin imminently, and that the first homeowner was anticipated to start building within the next six months, Mr Hernqvist said that reducing the project's real estate prices by up to 35 per cent - in response to market conditions - had also helped to stimulate buyer interest.

"We've found Schooner Bay has switched into a new gear, completing the harbour," Mr Hernqvist explained. "Over the last four-five months the pace has been incredible, with all the construction. The construction of the hotel is underway, a restaurant is coming soon, and a harbourmaster's office is open.

"These are all considerations for owners at Serenity Point; to be able to get into a golf cart and go to places next door. The difference between us and Schooner Bay is that we're a gated community."

Access to Schooner Bay's amenities and facilities is a key selling point for Serenity Point, which is being created as a boutique, upmarket real estate development featuring its own clubhouse, affinity pool, tennis courts and 24-hour security.

To make Serenity Point even more attractive and stimulate buyer activity, Mr Hernqvist said the developers had cut their lot prices by up to 35-37 per cent, dropping a beachfront location from an initial $850,000 to $535,000. Beachfront, and hillside sites, start at $300,000 for a half-acre lot.

"Since all these activities at Schooner Bay have been taking off, we've had a lot of inquiries," Mr Hernqvist told Tribune Business. "As of last month, we sold two beachfront lots. Another beachfront lot was reserved, and two ridge lots have been reserved with deposits.

"We are actually now just in the process of commencing construction for a clubhouse. Our projection is that this is going to be completed in a about a year."

Click here to view and read this entire article on RE/MAX Bahamas Paradise Realty.

Bahamas aims to attract the Canadian tourist market

2011-11-15T10:30:00.000-08:00

THE BAHAMAS is committed to promoting its tourism assets to the Canadian market, Public Works and Transport Minister Neko Grant said.

Addressing a reception for Sunwing Airlines' inaugural flight from Canada on November 3, Mr Grant said: "As you are aware, tourism is our country's lifeline. We depend on it for the health of our economy and indeed for much of our quality of life.

"We take the tourism sector of our economy seriously and take pride in developing strategic partnerships with companies such as the Sunwing Travel Group, Canada's largest leisure company."

He described the new service as the first step in a long and lasting partnership between the Sunwing Travel Group and the Bahamas - and an opportunity to introduce Canadians and others to the country's rich heritage and its friendly, hospitable people.

"We are excited to have Canada's leading high frills, low cost airline service the Bahamas. Your award winning 'Champagne Service' which has been voted number one by customers and travel agents for the last four years, is a welcomed addition to the Bahamas' airlift from Canada," he said.

The Bahamas continues to upgrade infrastructure in Nassau and the Family Islands, Mr Grant said.

Some of the latest initiatives include: major roadworks throughout New Providence, a new airport gateway dual carriage road, the Baha Mar resort which is currently under construction, and upgrades to the Lynden Pindling International Airport and the Marsh Harbour airport in Abaco.

"Downtown Nassau is being rehabilitated to provide an exciting historic, entertainment and shopping experience for residents and visitors," Mr Grant added.

"Construction of a new Straw and Craft Market is completed and it will soon open for business, the historic parliament buildings are being refurbished, public green spaces are being established, commercial shipping is being moved from the downtown area, extensive road paving and sidewalk works are being done and Charlotte Street will be upgraded and pedestrianised."

Other Family Island airports are scheduled for improvements as part of the government's efforts to accommodate growth and development, and increase capacity for airlift and tourism, he said.

Click here to view and read more articles on RE/MAX Bahamas Paradise Realty.

SCHOONER BAY development Targets Growing most of their own Food

2011-11-08T10:15:00.000-08:00

THE SCHOONER Bay development in Abaco is aiming within 10 years to produce 75 per cent of the food it eats itself, and is employing renewable technologies to reduce its power bills.

James Malcolm, Schooner Bay's marketing director, explaining that the developers' construction/development methods would "pay ecological dividends for years to come", said the use of solar water heaters would cut power bills in the development by one-third.

And, through the use of geothermal energy for air conditioning and cooling properties, Mr Malcolm said the developers would slash power bills by a further 50 per cent.

"We feel fairly vindicated in our philosophy that while it takes more time, and more attention to detail, building in that way will pay ecological dividends for years to come, for our children and grandchildren," Mr Malcolm said.

Of the 120 lots placed on the market for sale two-and-a-half years ago, some 50 had been sold to buyers of whom 75 per cent were from Nassau.

"We have an amazing group of initial buyers who we call pioneers. They're diverse," Mr Malcolm said. "We're building at a very slow and deliberate pace. That's a key to sustainability - to not bite off more than you can chew.

"We believe we are a model for redevelopment. One of the reasons for our success is affordability. People are getting into Schooner Bay for lots and homes at $350,000. This not about $2 million and foreign buyers."

Click here to view and read this entire Schooner Bay development Growing their own Food article.

RE/MAX International Launches a truly Global Real Estate Listing Website

2011-11-07T10:27:00.000-08:00

global.remax.com Offers Customized Search of More Than 60 Countries

(Denver, CO) – RE/MAX, LLC, the recognized real estate leader, has launched a new website, global.remax.com, the first truly global resource for consumers, with hundreds of thousands of home listings in countries around the world. The site features customized search tools that allow buyers to search for properties in 30 languages, translate currencies and find the latest international real estate news. At launch, the site will contain listings from Brazil, France, Italy, India, Portugal, the United States, Canada, Italy and New Zealand - a total of more than 60 countries and territories around the world.

“We make our customers our priority, and they told us they needed a comprehensive resource for international properties,” said William E. Soteroff, RE/MAX Executive Vice President, U.S. and International Regional Development. “We’re seeing an increasing number of foreign buyers looking for property in the U.S. and American buyers looking overseas. global.remax.com is essentially a one-stop source for residential and commercial real estate, no matter where you live.”

Real estate trends differ from country to country, city to city and even neighborhood to neighborhood. Buyers and sellers who visit global.remax.com can stay on top of the latest real estate news and events through an in-depth and detailed news feed. The site will also feature a rotating spotlight on a specific country or region, offering visitors insight into that market and any new developments.

In countries like India, Brazil and China, as the population grows and incomes rise, families are searching for homes of their own and investment properties.

RE/MAX is also growing, adding offices around the globe. Franchise sales were up nearly 15% in the first half of 2011, a mark that looks to outpace last year’s total franchise sales, which recorded an impressive 30% increase over 2009. In Brazil alone, RE/MAX has seen 133% growth over 2010.

“We’re growing because there’s a need for experienced and professional agents,” said Soteroff. “In some countries, RE/MAX has been the first real estate brand to go in and open for business. It’s exciting to be a part of that.”

RE/MAX has a presence in more than 80 countries, a reach far greater than any competitor. With more than 6,300 offices around the world and a sales force of nearly 90,000 agents, buyers and sellers can take advantage of the experience and knowledge of the most productive professionals in the real estate industry.

For more information about RE/MAX global listings, please visit: www.global.remax.com.

Watch a video about global.remax.com.

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About the RE/MAX Network: RE/MAX was founded in 1973 by Dave and Gail Liniger, real estate industry visionaries who still lead the Denver-based global franchisor today. RE/MAX is recognized as a leading real estate franchise company with the most productive sales force in the industry and a global reach of more than 80 countries. With a passion for the communities in which its agents live and work, RE/MAX is proud to have raised more than $100 million for Children’s Miracle Network Hospitals, Susan G. Komen for the Cure® and other charities. Nobody in the world sells more real estate than RE/MAX.

Get Best Bang for Your Buck on Renovations

2011-11-01T10:15:00.000-07:00

Many homesellers want to get the most for their money at the closing table.

Don’t have time or a ton of money for major renovations? Don’t worry, says Laura Smith, a Sales Associate with RE/MAX First in Baton Rouge, La. A clean, clutter-free home goes a long way for many buyers, says Smith, who has appeared on HGTV’s "Bang for Your Buck."

Here are Smith’s tips:

Make your home smell incredible. Get your air-conditioning unit professionally serviced and cleaned. Most companies charge under $150, and it goes a long way in removing household odors and allergens. Also, use plug-in fresheners and fabric deodorizing sprays.

Steam-clean the carpets - Instead of replacing carpets, call a professional to have them steam-cleaned and watch the transformation. You will be delighted to see that steam-cleaning the carpets (price depends on carpet area) is money well-spent.

Remove clutter - Check your closets and donate old clothes, shoes or other items that you haven’t used in the past year. Buyers want to see storage space; this goes for the other closets in your home, as well as garages, if you’re having showings, remove all personal photos and clear off all appliances and knickknacks from countertops and display shelving.

Create an outdoor living space - Adding a sense of comfort to your patio, deck or backyard adds value to your home. Stage your patio or deck with a table and chairs, as well as an outdoor rug, lively plants, some colorful flowers or a small fountain. Get rid of unsightly weeds and keep the lawn mowed and presentable.

Click here to view and read the entire Get Best Bang for Your Buck on Renovations article.

Best Times to Buy Real Estate

2011-10-31T10:04:00.003-07:00

Conventional wisdom says that you need to stay in a home a minimum of five years to ensure that you recoup your purchasing costs. But with some markets soaring, this advice doesn't always apply.

It's All About the Market

Market conditions play a huge part in any decision about when to buy. Housing market values have varied widely from region to region in recent years. While the Florida market has seen meteoric rises in home values, Ohio has seen its real estate prices go into negative territory in the last year.

Do not buy high and sell low - if your market is softening or has hit its peak and is heading south, you may want to wait on your purchase.

The magazine Smart Money has created a worksheet to compare the costs of renting vs. buying using market appreciation calculations to determine at what point you come out ahead. Plugging in the price, down payment, your income bracket, interest rate, and current market appreciation rates, the worksheet will break out what you will gain.

It's All About You

The top three reasons people file for bankruptcy are change of job status, divorce, and unforeseen health expenses. If you face any of these challenges and don't have a financial cushion, this may negatively impact your ability to pay a mortgage. Big life events dictate your readiness to buy now or to wait for a little more stability.

Signs you should not buy right now:

* Will you be moving within the next five years?

* Will you be having kids soon?

* Will you be making a job change?

* Have you recently filed for bankruptcy or is your credit score below 630?

If you answered yes to any of these questions, or you are experiencing other life-changing events like illness, marriage, divorce, or breakup, you may want to wait.

What to Do First

If you are anxious to get moving, be patient. You have a few things to do first. Go to open houses - get the lay of the land.

Talk to a mortgage broker to get pre-approved

Interview agents (You may want to find an agent at the same time as you look for a mortgage broker - a good agent can recommend reputable brokers and help you make sense of the terms of the loan)

Review credit report and scores with mortgage broker to determine if any repairs are needed

Find info on neighborhoods that interest you

Click here to view and read the entire Best Times to Buy Real Estate article.

Bahamian Buyers may miss Real Estate Opportunities

2011-10-18T08:49:00.000-07:00

A Bahamas Real Estate developer has warned that Bahamian buyers "may miss" an opportunity to acquire affordable gated community properties in western New Providence through lack of confidence, with prices in the area only likely to go up.

Speaking as he unveiled a $269,000, two-bed, two-bath condo product targeted at the Bahamian 'young professionals' market, Jason Kinsale, principal of The Balmoral project on Sandford Drive, told Tribune Business that his 'typical buyer' had altered from one who put down a 10 per cent deposit with mortgage financing to 'all cash' purchasers as a result of the recession.

"They're not scared. They know it's a good price and feel more confident," Mr Kinsale said of all-cash purchasers and foreign buyers, Canadians accounting for 50 per cent of The Balmoral's real estate sales over the last six months.

"I know this may sound self-serving," he added, "and that '10 per cent down buyer' may be afraid they will lose their jobs, and are gripped by fear, but a year from now they may not be able to afford to get into The Balmoral, Sandyport or a community of their choice.

"They have to take a little bit of a risk. I think our Bahamian buyers have to take a little more risk, or they will get left behind. They may miss.

"I think we've all come to the conclusion that prices in western New Providence are not going down. A modest increase of 2-3 per cent, and that's another $10,000 that they've got to find. That's the reality of the environment we're in.

"We don't have this infinite supply of product. Sandyport is close to being sold out, Nautica is sold out. There's not this endless supply of product out there." Mr Kinsale said many people were "underestimating the size of the Baha Mar project and not realising the impact this will have on western communities".

Recalling a recent visit to Toronto, where Chinese was the second most-spoken language, Mr Kinsale said that if just 100 Chinese acquired real estate options at the $2.6 billion Baha Mar project - a possible development, given the involvement of China State Construction and the China Import-Export Bank - this would have a major impact on the Bahamas real estate market.

Mr Kinsale said his Toronto trip had "opened his eyes" when it came to providing more affordable real estate options, noting that the Canadian city's most popular offering was currently a 400 square foot micro-condo.

Noting that having a diversified range of real estate products had helped to "save us" at The Balmoral during the recession, the developers now adding two more options to bring the total to seven, Mr Kinsale said he planned to apply Toronto's lessons to the Bahamas - albeit with product right for this market.

Revealing that the 18-unit $269,000 condo option will launch within the next 30 days, Mr Kinsale said: "I think they're going to fly. I think the young professional market has no choices here.

"It's for the investor as well, because the units will rent for approximately $2,200 a month. It's a nice investment package, because there's nothing available at that price in the west.

"I think there's a pent-up demand. Young professionals are just unable to purchase anything right now. If you look at young professionals they're doctors, lawyers, accountants, but they're not always making a lot of money. They have valuable training and education, but are not at the peak of their career yet; it takes a little while to get there."

While the commercial banks had come under fire for being unwilling to lend, Mr Kinsale said credit was still available to those who could qualify.

"I equate that to when I go into John Bull. I know which watch counter I can afford to go to, and which one I can't afford to go to," he added. "People were previously trying to buy stuff they just couldn't afford. Banks are lending; they just want good loans."

In the current economic environment, Mr Kinsale told Tribune Business that rather than the previous '4 P's', real estate marketers now needed to be equipped with five.

Previously, Product, Price, Place and Promotion were the main ingredients. "But with this economy you need to have a fifth 'P', Perseverance. Four are just not enough," Mr Kinsale added.

Palm Cay a Multi-million dollar Bahamas Development eyes 100 full-time jobs

2011-10-17T09:43:00.000-07:00

AN EASTERN New Providence Island real estate development could create more than 100 full-time jobs when completed, its newly-appointed chief executive telling Tribune Business he was "very confident" that the 350-400 unit project would be sold out within the next four years.

Richard Browning said Palm Cay's UK-based investors had "committed to continue to invest" to make the project a success, having spent "just shy of $40 million to get us where we are" - a position that is now allowing the Palm Cay development to start marketing to Bahamas based buyers in earnest.

Palm Cay wanted to first build "a local community" from among the Bahamian professional and middle class market, Mr Browning said 50 lots in the Ocean front development had already been sold. In addition, six townhouses and five oceanfront homes were also fully built, the former now all occupied.

"We've done that without even being in the market, so what can we do if we get out there?" Mr Browning asked, telling Tribune Business that marketing efforts in the Bahamas were set to begin in earnest in November 2011.

Although Palm Cay was making the transition from construction site to sales and marketing, its chief executive told Tribune Business that some 200-300 construction workers, and eight Bahamian contractors, were still employed on site. The tennis court amenities were currently under construction, and Palm Cay had just hired nine Bahamians for its security team and a landscaping company with 20 workers, was also at the development site on a full-time basis.

"Those numbers will increase as security becomes more important, as landscaping becomes more important," Mr Browning said. Looking towards the full-time posts that would be created when Pam Cay's marina, restaurant and clubhouse become fully operational, he added that the latter two facilities might create "maybe another 50 jobs".

As for the marina, it would need a harbourmaster, employees to look after the boats and maintain the facility. The marina, in turn, could create opportunities for bait and tackle and yacht chandlery businesses.

"If the need is there, it will create some businesses off that, so there will be spin-offs," Mr Browning told Tribune Business. "There will be repair work on the boats. If you get your foundation right, you can build some really strong activities around it, and the wheel will keep on rolling.

"We could end up with 100 people just trying to maintain the development and provide the services."

With Palm Cay's club house and restaurant, and associated 194-slip marina, built and set to act as the project's "heart", Mr Browning said the latter facility would have fuel in six-eight weeks and be a 'full service marina' by year-end. The Palm Cay development had "infrastructure 100 per cent", with water, sewerage and electricity facilities all in the ground.

And Palm Cay was also looking for a Bahamas-based restaurant entrepreneur to run the clubhouse restaurant, the developers targeting year-end or early in the 2012 New Year to have this facility fully operational.

"I'm looking at the moment for a restaurateur," Mr Browning told Tribune Business. "We'd like to find a restaurant entrepreneur who sees this as a long-term opportunity.

"There's no critical mass to start with, but we'd like to open at the weekend to serve residents and visitors As Palm Cay opens, it will become a vibrant hub....... I've had a few people give me proposals, but made no decision. We're still looking." Reiterating that Pam Cay was looking for "the right person", and was very close to selecting a harbourmaster to run its marina, Mr Browning added: "We'd [the developers] be foolish to open it ourselves, not offering the right sort of amenities.

"The restaurant business is a specialist business. Ideally, we'd like to find someone here that can run it as a satellite and expand as needs demand." Emphasising that he was "selling a lifestyle", namely the boating/yachting experiences offered by the Bahamas and associated living, Mr Browning said Palm Cay would do this at price points between $500,000-$2 million, making properties affordable to middle class and professional Bahamian buyers.'

"We're not in the Albany game, but are still there between $500,000 and $2 million in current values," Mr Browning said. "We're going to market strongly to increase our visibility, but are not going to increase prices. We know the market situation.

"We've got a fantastic lifestyle product, and it's not out of reach of the ordinary person. We're not a mega boat marina, we're not for mega yachts. We're here for the person who wants a 40-foot fishing boat, a 20 foot cruiser, or a small boat for the family. It's a family lifestyle, and we provide a great opportunity for people to explore yachting, fishing. We're a great location for exploring the Family Island, with Exuma 40 minutes away."

Townhouses in Palm Cay will start at a $500,000 price point, going up to $850,000 for oceanfront townhouses. While offering turnkey construction, Mr Browning estimated that total construction costs - lot purchase together with building prices - could run up to $2 million.

The Pam Cay chief executive said the developers were also looking to reduce development density, hence the potential plan to reduce the project from 400 home sites to 350.

As a result, they were looking to "change the mix slightly to introduce a cottage-type product", built on 2,000 square feet of land, as a family home option. With the townhouses "a fantastic product for young professionals", Mr Browning said Palm Cay was also exploring a rental market offering.

"Our target for build out is four years to sell it out and build out," he told Tribune Business. "The developers have invested just shy of $40 million to get us where we are. They are committed to continue to invest to make this a success.

"They've invested in me, provided the resources for me to take this forward. It's a significant sign that the investors are serious about this by putting me on the ground, and the resources on the ground, to move this forward. We are moving forward even in this difficult economy."

Palm Cay had been about to ramp up its sales/marketing effort back in 2007-2008, just as the 'credit crunch' and recession hit in full. The UK-based developers were forced to take stock and adjust their plans, before settling on the current way forward.

Asked why Palm Cay had decided to move now, with local marketing set to start next month, Mr Browning said: "There are good opportunities here, and we can deliver.... In a market that is sluggish, you either stagnate or get up and shout. "We feel there are a lot of discerning property owners out there that see it as the time to invest, and we offer the product they're looking for. It's a bold move, but if you don't move you don't get the results. Over the next four years I'm very confident we will sell this out."

If Palm Cay proceeded well, Mr Browning said the developers would look to do more projects in the Bahamas.

"Once we've got this successful, we will look at other opportunities in the Bahamas," he told Tribune Business. "We're here for the long. We're not a 'quick in and out' developer, and this will probably be one of our developments in the future. It's a good flagship, and the next one becomes easier if there's a track record."

Mr Browning told Tribune Business the developers wanted Palm Cay to be a 'Lights on' community, rather than one populated solely by winter residents and second home owners, something that would leave it relatively empty for large portions of the calendar year.

As a result, Palm Cay was looking for a 60/40 mix tilted in favour of full-time, Bahamas-based residents.

Meanwhile, Mr Browning said of Palm Cay's international marketing plans: "We'll look to that once we feel we've got the life, soul and heart ticking in here with the local marketplace.

"We will only go out to the international community with something that works. We will probably go out to them in the middle of next year, although we will have a small presence at the Fort Lauderdale International Boat Show. There is a market there for people visiting the Bahamas, and we hope they will come down here on a regular basis."

Sandwiched between Port New Providence to the east and Gerardo Capo's Treasure Cove to the west, Mr Browning described Palm Cay as "the best kept secret" in eastern New Providence. As the only development of its size in the eastern end of the island, especially one that offers a marina and boating access, Palm Cay has some exclusivity to help its sales effort, especially given the rush to western New Providence.

To Handle Low-ball Offer, Minimize Emotion

2011-10-03T09:39:00.000-07:00

It's a common scenario in today's real estate market: Sellers have their eyes on getting a certain amount for their home. Buyers make a low-ball offer that insults and offends the sellers and they refuse to even consider it. No sale.

How do you, as a seller, turn such a situation around in your favor to achieve a successful sale closer to your asking price? Your motivation plays a major role in your response, says Julie McCoy, a real estate agent with RE/MAX Accord in Lafayette, California.

If you want to sell a home quickly and a buyer is offering less but can close quickly, it's worth considering, McCoy says. When lower-than-expected offers come in, ask for an explanation from the buyer's agent and compare home sales to see how things stack up.

"The emotion has to be removed from the transactions," McCoy says. "Regardless of what kind of offers you receive, you can't take it personally. When someone writes a low-ball offer, it's not an indication of what your house is worth - but rather what they can afford."

Try to find wiggle room by negotiating the terms, such as the moving timeline, closing costs and repairs. You can gain back some money that way, McCoy says. If you're reluctant to touch the price but you're not having a lot of showings, seriously consider your motivations.

"When a seller says no to low offers, that means he or she will be carrying more payments on the house for a longer period of time," McCoy says. "If a seller can afford the daily cost of staying in the home and wants to get the best bang for the buck at closing, then there's not an urgent need to move. "

If you leave your gut reaction out of the equation, it's easier to make an informed decision on whether or not to consider a low offer.

"Motivated sellers will work with their agent, who then works with the buyer's agent, to negotiate - even if that involves countering," McCoy says. "It takes teamwork to arrive at a conclusion that everyone's happy with."

RE/MAX Ranks #1... in more ways than one!

2011-08-16T08:36:00.000-07:00

"We accept this on behalf of all RE/MAX Sales Associates, whose high level of service made this recognition possible," Dave Liniger said. "This honor belongs to them."

A second study, conducted by national research firm Synovate, adds even more weight to the idea that RE/MAX is No. 1 in the eyes of consumers. In this survey, buyers and sellers ranked RE/MAX highest, by a large margin, in top-of-mind awareness, recalled advertising, firm most likely to work with, firm most likely to recommend, and many other categories.

When asked what real estate company first came to mind, 34 percent of the respondents said RE/MAX, easily outdistancing Century 21 (25 percent), Coldwell Banker (11 percent), Prudential (4 percent) and Keller Williams (3 percent). Overall, 95 percent of the participants were aware of RE/MAX.

This type of brand power brings business to RE/MAX Sales Associates, Liniger said. And when they combine their individual skills and talents with the "800-pound gorilla" of RE/MAX brand marketing, they have an unbeatable edge.

"Anyone who says brand isn’t important is either lying or stupid," Liniger said. "Advertising doesn’t cost; it pays. It brings more customers to our agents, makes things easier and generates business for them. And when they follow through with excellent service, they create repeat clients and referrals."

Custom marketing materials, Liniger said, will help Sales Associates use the results of both studies in their listing presentations and other promotions.

"We are developing all sorts of things for agents to use on the front lines," Liniger said. "This is their achievement, and they will directly benefit from it."

Broker/Owners in attendance were pleased at the news.

"Being No. 1 in one thing is great, but being No. 1 in lots of ways is much, much better," said Bob Carlseen, Broker/Owner of RE/MAX Praecelsus in Chula Vista, Calif. "Sales Associates are looking for messages that resonate with consumers, and this will give them something very tangible to use."

Paul Turcotte, Broker/Owner of RE/MAX Destiny in Cambridge, Mass., agreed.

"Every year, the tools keep getting better," he said. "And we have the proof to back up what we’re saying. Data doesn’t lie. I love the new direction."

Other highlights from the session:

• A new quarterly RE/MAX magazine, called Above, will debut in October in print and in an electronic version.

• RE/MAX CEO Margaret Kelly said the launch of the new remax.com site has been delayed by IDX policy changes at the National Association of Realtors. But while the site’s listing functionality has been impacted by the changing rules, work on the design and content has continued, and Kelly shared a glimpse of the fresh and user-friendly home page. She also emphasized that the current remax.com is completely compliant with existing IDX rules and would not be affected by any decisions at the NAR national convention in November.

Home Buyers and Sellers Prefer RE/MAX

2011-07-28T08:32:00.000-07:00

RE/MAX Ranks Highest in Customer Satisfaction in 2011 J.D. Power and Associates Study

DENVER, CO – Results from the J.D. Power and Associates 2011 Home Buyer/Seller StudySM, recognize RE/MAX for providing the highest overall consumer satisfaction for both home buyers and home sellers. In last year’s study, two different companies ranked the highest in each category, but this year home buyers and sellers both rated RE/MAX the highest.

“It all comes down to professionalism and a commitment to a premier level of customer service,” said RE/MAX Chairman and Co-Founder Dave Liniger. “Because RE/MAX agents average more experience and training than other agents, they are better prepared to deal with home buyers and sellers in any kind of market. And, consumer preferences tell the story . . . nobody sells more real estate than RE/MAX.”

This is the fourth annual study of home buyer and seller satisfaction with the largest national real estate companies, conducted by J.D. Power and Associates. For the home buying experience, three factors were considered: agent/salesperson, office and a variety of additional services. Four factors were examined for the home-selling experience: agent/salesperson, marketing, office and a variety of additional services.

Details from the study indicate that on a scale of 1,000, homebuyer respondents ranked RE/MAX with a score of 805 and home sellers put RE/MAX on top at 791. The 2011 study includes more than 4,200 evaluations from 3,680 respondents who bought or sold a home in the U.S. between March 2010 and April 2011.

In two other 2011 industry surveys of the country’s top real estate brokerages, RE/MAX agents averaged more transaction sides than agents at the other national franchises. The RIS Media Power Broker Survey and the REAL Trends 500 both showed that RE/MAX agents averaged over 14 transactions sides, more than double the average of many competitors.

The success of RE/MAX agents is the result of its comprehensive educational platform, RE/MAX University, which offers over 1,100 educational programs on-demand, and available online, on television, on smart phones and in classrooms around the world.

About the RE/MAX Network: RE/MAX was founded in 1973 by Dave and Gail Liniger, real estate industry visionaries who still lead the Denver-based global franchisor today. RE/MAX is recognized as a leading real estate franchise company with the most productive sales force in the industry and a global reach of more than 80 countries. With a passion for the communities in which its agents live and work, RE/MAX is proud to have raised more than $100 million for Children’s Miracle Network Hospitals, Susan G. Komen for the Cure® and other charities. Nobody in the world sells more real estate than RE/MAX. Please visit www.remax.com or www.joinremax.com.

About J.D. Power and Associates: Headquartered in Westlake Village, Calif., J.D. Power and Associates is a global marketing information services company operating in key business sectors including market research, forecasting, performance improvement, training and customer satisfaction. The company’s quality and satisfaction measurements are based on responses from millions of consumers annually. For more information on car reviews and ratings, car insurance, health insurance, cell phone ratings, and more, please visit JDPower.com. J.D. Power and Associates is a business unit of The McGraw-Hill Companies.

Bahamas Rotary Tuna Classic a Success!

2011-06-13T08:03:00.000-07:00

The 10th Annual Harbourside Marine Bahamas Rotary Tuna Classic fishing tournament was held June 10th - 12th with weighing stations in Abaco, Nassau, and Spanish Wells.

Sixteen boats with over 80 anglers competed to land the biggest Tuna, Dolphin, and Wahoo. The weather was fantastic and the anglers enjoyed the friendly competition and camaraderie.

Craig Pinder, Principle Broker of RE/MAX Bahamas Paradise Realty and proud Rotarian assisted with weighins and was stationed at Green Parrot on Paradise Island.

"Everyone had a great time." said Craig wishing that he was one of the anglers with a bounty of fish. "They were tired but in great spirits!"

The largest Tuna caught was 84.2 lbs. and over $25,000 was raised for local charities and community service projects.

Pictured here: Craig Pinder with Rachel Lightbourn and one of her catches, a Yellowfin Tuna.

10 Summer Safety Tips for Kids

2011-06-10T07:50:00.000-07:00

Make Sure to Know where your kids are at all times!

Beware of the Sun! - It’s going to be a really hot summer this year. Be sure to always apply sun screen on you and your children often. Kids young skin are very susceptible to burning more so than yours so even if you think that you are not going to be in the sun for a long period, still apply the screen. It’s also a good idea to get some sun-shirts; they work like sun screen without the reapplication.

Drink lots of Water – The heat is going to get you if you do not stay hydrated this summer. Make sure to consume water often throughout the day.

Pool Safety – Be sure that young children are never unsupervised in or even around the pool area. Injuries often occur in a small space of time, sometimes when the supervising eyes are distracted for only a few minutes.

Boat Safety – A lot of people are going to be utilizing their boats this summer. It is always a good idea to be prepared (like a boy scout) for an outing. Make sure that you have a First Aid kit with all the usual Band-Aids, gauze bandages, scissors and tape etc. A flair gun is also very good to have on your boat. Make sure that your flair gun is stored in a place that is fairly easy to get to in case of an emergency, but not easily accessible for your children. Also make sure to have ample life vests and a fire extinguisher in case of a real emergency.

Bikes & Skateboards – Children love to ride their bikes and scooters; Make sure that they always wear the proper gear to protect their heads, elbows and knees. Teach your children that they must be aware of their surroundings at all times because cars can fly out of nowhere. Make sure they know that if they are riding their bikes, scooters, or boards in the road that they are in the way of the cars and that they have to move quickly out of the way if one approaches.

Insect Bites – Be sure to protect yourself if biting insects are attacking you and your children. Diseases are spread sometimes by these insects such as mosquitoes and ticks. The best insect repellent to use contains DEET, but these products are not the best for your skin and especially not good for your younger ones.

Barbequing – During summer time a lot of people are drawn outdoors for events and love to have a grill-out. It is imperative that your children stay away from the grilling area when food is being prepared. They may burn their little hands or they may get in the way of the chef and adversely cause an incident. Water is always a good idea to keep on hand in case the fire gets out of hand.

Water Sports – Thrill seekers enjoy occupying their summer with activities such as Jet skiing, parasailing, tubing, kayaking, and windsurfing, etc. It is important to know where your children are at all times during these activities because injuries can happen in a blink of an eye.

Buckle Up! – Make sure that your kids are properly secured in their seat whether it is by car, airplane, train etc. Don’t think nothing is going to happen because accidents happen.

Traveling abroad – Are you going somewhere on vacation this summer? If you are, it’s a good idea to have your children carry your contact information on their person in the event they get lost.

Have a Great Summer!

RE/MAX Grows in the Caribbean & Central America

2011-04-06T07:31:00.000-07:00

Top Real Estate Franchisor Adds Offices to Expanding Network

Denver, CO - April 6, 2011 - The RE/MAX network continues to expand its reach around the world, announcing five new offices in four countries in the Caribbean and Central America. RE/MAX is now in more than 80 countries, after increasing franchise sales nearly 30 percent in 2010 and outdistancing all competitors.

“We are changing the way real estate business is conducted in many of these countries,” says Ricardo Cardenas, Regional Vice President, RE/MAX Latin America and Caribbean. “Our blueprint for the industry is based on training and professionalism and that is what is drawing so many new offices to RE/MAX.”

In Honduras, the Broker/Owners of RE/MAX Bay Islands in Roatan have opened a second office in West Bay. Larry Schlesser and Janine Goben have named the new office RE/MAX Western Sunsets, and staffed the location with experienced agents who are long-time residents. Schlesser and Goben hope to double the staff at Western Sunsets this year.

“Tourists are returning to this area and many of them are prospective investors,” says Goben. “We expect to see as many as a million prospective clients come in on cruise ships this year and we have to be ready for them.”

In Puerto Rico, one new office is open and another will launch in June. Enrique Morales is the Broker/Owner of the new RE/MAX Divine office in greater San Juan. Broker/Owner Sandy Ramos will open RE/MAX Real Estate Group, in the heart of the island’s tourist area. The office will serve the townships of Rio Grande, Canovanas, Luquillo, Fajardo and Humacao.

“The buyers we see in the area around Rio Grande are second home buyers that live outside Puerto Rico,” says Ramos. “RE/MAX is a name they know and trust, and we’re thrilled to be able to bring first class customer service to them.”

In Panama, Yenci Milano converted her independent office in Panama City to RE/MAX Golden Dream Realty. Milano believes the change will help her agents better serve their buyers and sellers.

“The market has started to move again and there is great interest from investors from other Latin American countries, especially from Venezuela,” says Milano. “RE/MAX will give us more exposure to better serve the growing international clientele.”

And, in Costa Rica, a new office is scheduled to open in Playa Dominical, in the province of Puntarenas. New Broker/Owners Dave and Debra West are long time real estate professionals. They’re looking forward to helping buyers who are searching for properties along Costa Rica’s pristine southern Pacific shoreline.

“We’re focusing on the coastal region surrounding Playa Dominical and extending to where the mountains meet the ocean,” says Dave West. “This area is truly unique and once you’ve experienced it, it’s hard to leave. We’ll be busy assisting families in finding the home of their dreams.”

Zillow.com Partners With RE/MAX

2011-03-17T11:52:00.000-07:00

Today I am pleased to announce a partnership which enables RE/MAX to automatically feed all of their listings to Zillow. This is great news for RE/MAX agents because their listings now automatically appear on the Zillow/Yahoo! Real Estate Network, the largest real estate network on the Web, and across Zillow Mobile apps on the iPhone, iPad, Android and Windows Mobile.

RE/MAX joins the Zillow Listings Feed program, which launched in November 2007 and has grown to more than four million for-sale listings, and hundreds of thousands of rental listings.

2011 Bahamas Realty Search - Are you ready?

2011-01-07T07:25:00.000-08:00

It's the start of another New Year; The perfect time to begin your search for real estate!

If you have been keeping your eye on the Bahamas real estate market waiting for that perfect home or condo to pop on the scene, you may be waiting for a while. Needing a place to move into and looking for another place are two different priorities all together. On one hand you are actively engaging with real estate agents whilst you pursue websites and neighbourhoods looking for what is available, and on the other hand you are simply looking at pretty pictures.

If you are serious about purchasing real estate in The Bahamas you need to get your ducks in a row. The first step is sitting down with a Loans Officer to see what you qualify for and to figure out what you can afford. Once this step has been completed then you can actively search for real estate possibilities.

Contact an Agent or Agency to assist you in finding your perfect real estate match. Research which real estate agent or agency will represent you best in your endeavor. It's best to work strictly with one agent or agency otherwise it gets confusing because there will be duplicate work being done. Make sure to work with an agent that you gel with nicely.

Are you planning on purchasing real estate this year? Are your ducks in a row? If they are and you would like to inquire on some real estate listings we would be happy to assist you. If you have any questions or concerns please contact the RE/MAX Paradise Realty Team via the Contact Form or telephone (242) 325-3000.

Choosing RE/MAX helps when Selling or Buying a New Home

2010-10-13T07:17:00.000-07:00

All those who have had the experience of buying a new home or selling a home know it is not an easy task in our current market conditions. RE/MAX and it’s RE/MAX balloon logo has assisted in creating a world famous real estate company. RE/MAX associates help people sell a home or buy a new home. It has been in business for over three decades and caters to clients from different parts of the world and has offices and associates that serve the smallest cities or towns.

RE/MAX has offices worldwide where real estate agents work tirelessly to help clients buy or sell properties and homes. RE/MAX Realtors have dominated the ranks in all the Certified Residential Specialist (CRS), the Certified Distressed Property Expert (CDPE), the Seniors Real Estate Specialist (SRES) and the Accredited Buyer Representative (ABR) designations and continuing education. This means their agents have some of the best expert knowledge related to the real estate industry and are able to serve buyers and sellers in a professional and highly skilled manner.

Whether you want to buy a new home or sell a home your task will become very easy and less stressful if you hire a RE/MAX Realtor because they:

Keep themselves up to date with the latest trends in the industry.
Use a comparative market analysis to determine the best price of a home or property.
Use the MLS (Multiple Listing Service) listings to list their client’s homes and properties for sale with pictures and demographics on the Internet.
Their knowledge of the local area and the market conditions help the process to be as smooth and easy as possible.
Assist you from the beginning to the end of the process and work to earn your trust in hopes of repeat and referral business.

RE/MAX understands it’s responsibilities to society and has taken initiatives to give back to the community. Whenever you hire a RE/MAX Realtor for either buying a home or selling a home, they may donate a part of their earnings by participating in the Miracle Home Program or the Home for the Cure Program. Under the Miracle Home Program, real estate agents make a contribution to a local hospital affiliated with the Children's Miracle Network. The donation remains in the area and benefits the local residents. Under the Home for the Cure Program, a donation is made to Susan G. Komen for the Cure which uses the funds to help fight breast cancer.

Why Do Buyers Insist on Putting the Cart Before the Horse?

2010-10-05T07:11:00.000-07:00

Sitting in my office the other day I received an inbound inquiry from the switchboard. It was a prospective purchaser that was relocating from one of the 'family islands' and wanted to see a home listing we had. As usual, I asked some qualifying questions to get a feel for the prospect's needs. After getting satisfactory answers to my battery of questions I asked the most important question of all, "Will you be financing your purchase? and Have you been pre-qualified at the bank for a loan?"

You would have thought I asked the lady how much she weighed (which is a question that should never part your lips unless you are a physician)! Immediately following the uncomfortable silence on the other end of the phone, she proceeded to tell me that she owned other property and that qualifying for a loan shouldn't be a problem. That may be so, but I for one don't even put the key in the ignition, nor will I inconvenience my seller or another listing agent unless I know for sure that the prospect can qualify for the purchase price of the listing, or at least get real close!

After diplomatically explaining my position and offering to recommend a couple of lenders that could likely do an over the phone pre-qualification, she abruptly said, "I don't want to go through all of that, I just want to see the home!" Well I'll be a monkey's uncle! Let me just stop what I am doing, call the owner and ask them to stop what they are doing and make arrangements to show you a home that neither you nor I know you can afford, and all because you want to circumnavigate the natural order of things?!!

I was absolutely amazed, but regrettably not terribly surprised. In this case, the interested buyer didn't want to bother herself getting pre-qualified. In many other cases, it seems that banks would rather not go through the rigorous process of qualifying buyers before they begin shopping. All too often, the prospective purchasers tell us that the bank said, "Go find a property you like, get an offer letter and/or contract and we'll see if you qualify." In either case, the buyer is clearly putting the cart before the horse!

Homebuyers & Sellers Get Top Agents

2010-06-08T07:36:00.000-07:00

RE/MAX vs. the Industry Report Shows RE/MAX Agents Help More Buyers and Sellers in 2009

(Denver, CO – June 2, 2010) - As professional real estate agents across the country compete to get new homebuyers while marketing properties for anxious sellers, agents from one global franchise have been proven to be the most successful at getting the job done. According to independent real estate analysts and other government filings, RE/MAX agents are more productive than other real estate agents in the U.S., a claim now documented in the annual “RE/MAX versus the Industry” report.

The RE/MAX versus the Industry report is distributed through the RE/MAX Network, along with charts, tables and social media messaging, and shows RE/MAX agents average 13.5 transaction sides per agent compared to the next closest competitor at 7.3 transaction sides per agent. “These analysts, surveys and government documents substantiate the claim that RE/MAX agents are the most productive in the business,” said Dave Liniger, RE/MAX Chairman and Co-Founder. “Even in extreme market conditions, RE/MAX agents outperform others and are able to better help homebuyers and sellers across the country and around the world.”

The report is based on figures released from REAL Trends and the U.S. Securities and Exchange Commission Form 10-K, 2009 annual reports. But, two recently-released national surveys also confirmed the company‟s standings nationally. Both the 2010 REAL Trends 500 survey and the 22nd annual Power Broker Report, from RISMedia, show RE/MAX agents have a commanding lead in production by number of transaction sides and sales volume.

Liniger equates much of the success to the education and training RE/MAX agents pursued as market demands changed, including training to manage short sales, distressed properties and foreclosures. RE/MAX Associates hold the greatest number of professional learning designations compared to agents of other national real estate brands.

What is The Bahamas MLS?

2010-05-19T07:28:00.000-07:00

The Bahamas MLS, which stands for Multiple Listing Service, is a centralized website portal where all the exclusive listings for a particular area, in this case The Bahamas, are kept and shared between real estate agent and property buyer alike.

Wikipedia defines a ‘Multiple Listing Service’ as, “a suite of services that enables brokers to establish contractual offers…, facilitates [broker] cooperation…, accumulates…information to enable appraisals, and is a facility for…correlation and dissemination of…information to better serve…clients…”

“A multiple listing service's database and software is used by real estate brokers… representing sellers under [an exclusive] listing contract to widely share information about properties with other brokers who may represent potential buyers or wish to cooperate with a seller's broker in finding a buyer for the property…”

“The listing data stored in a multiple listing service's database is the proprietary information of the broker who has obtained a listing agreement with a property's seller.”

Recently The Bahamas implemented an MLS system where real estate agents and brokers alike participated in the growth of the database with exclusive listings throughout The Bahamas Islands. March 17th 2008, The Bahamas Real Estate Association (BREA) soft-launched The Bahamas MLS strictly for real estate agents to use. The Bahamas MLS has taken steps towards becoming a public media and soon estate agents and potential property buyers alike can search the same database for real estate listings in The Bahamas.

Click here to read the previous MLS article: The Bahamas MLS; Increasing in numbers

Nassau's Harbourfront Finally getting it's due!

2010-05-11T07:24:00.000-07:00

Just when you think the good news for real estate in The Bahamas is starting to fizzle, we get the news that the government of The Bahamas has finally signed the deal to move the main shipping terminals from the ultra-valuable Nassau Harbour front to a more effective and environmentally friendly area to the west of the main harbour.

In a news release today, The Tribune reported, "Wider distribution of the profits from the freight shipping industry, reduced cost of living for Bahamians and the facilitation of the redevelopment and revitalization of downtown Nassau were highlighted as the major benefits of a signing between the government and private investors to develop Arawak Cay into New Providence's freight hub yesterday."

For the real estate industry in The Bahamas this means that downtown Nassau can be transformed into the charming harbour front city it used to be! New opportunities for commercial and residential development are imminent and I can tell you that most citizens and residents are extremely excited for the probable economic benefits.

The Bahamas MLS; Increasing in Numbers

2010-04-28T07:19:00.000-07:00

After many years of real estate agents, property buyers and property sellers alike wondering if The Bahamas will have it’s own Multiple Listing Service (MLS), the call was answered. On March 17th 2008 The Bahamas Real Estate Association (BREA) soft-launched The Bahamas MLS for the strict usage by real estate agents only.

Two months later in May, there were 81 licensed agents of about a total of 600 licensed agents scattered throughout The Bahama Islands, that signed on board to take part in the future of real estate.

The Bahamas MLS Administrator at that time, Heather Joy Albury, informed me that "81 members from 23 different companies" had signed up. From these 81 licensed estate agents, they had added 115 active exclusive listings. She added further, that "I believe that in 6 months time we would have doubled the agents and listings [on the Bahamas MLS] if not tripled [them]."

In November, six months later, the number of participating licensed estate agents increased from 81 to 129, the amount of participating offices almost doubled from 23 to 42 and the number of active exclusive listings increased more than five times from 115 to 615 listings.

Today (April 28th 2010) there are 181 licensed agents from 61 different real estate firms with more than 1,400 exclusive Bahamas listings on the MLS. The direction is clearly looking positive and I'm sure that this trend will continue to grow. To learn how The Bahamas MLS can help sell your real estate, contact an agent at RE/MAX Paradise Realty today!

Investing in The Bahamas. Did you know?....

2010-04-21T07:15:00.000-07:00

The Bahamas continues to flourish as a second home destination for many of our foreign friends. Still, many others don't foray into investing in The Bahamas because their perception is that the costs may be too high in comparison to investing in other tropical destinations. Besides the fact that we are the closest island nation to North America and travel to and from our beautiful archipelago is easier, faster and cheaper than ever, we have a stable economy and our dollar value is on par with the US dollar. Here are some answers to other common questions that may surprise you about investing in The Bahamas:

How much is real property tax in The Bahamas? Real property tax for owner occupied property in The Bahamas is very inexpensive in comparison to other destinations. For the first $250,000 in value the property is exempt from real property tax. The next $250,000 in value is taxed at 1% and anything over $500,000 is taxed at .75%. So, a $600,000 beachfront condo would be $3,250 per year!

Is there any income or sales tax in The Bahamas? None whatsoever! The government relies on import duties on goods for their tax revenue.

How much is building insurance? For comprehensive insurance coverage in The Bahamas, which includes hurricane coverage, the calculation is roughly 1.5% of the sum insured.

As one can plainly see, the carrying costs to own your little piece of Paradise are exceptionally reasonable! If you would like more information on the beautiful island nation of The Bahamas please feel free to contact me anytime! I really enjoy sharing my experiences here and look forward to welcoming many more friends to The Bahamas!!

Selling Property in The Bahamas

2010-04-14T06:59:00.000-07:00

If you have ever wondered how best to sell your property in The Bahamas this article is for you! The first step is to locate a quality company and an experienced agent with a proven track record. I recommend interviewing at least 3 agents so that you can be assured that their marketing plan is a sound one, that the agent understands the market and knows how to price your property correctly to achieve the desired results and that your personality and goals are aligned.

To research companies and agents, type in "Bahamas Real Estate" in Google and review the results. The companies that are listed at the top of the search are generally the ones that can deliver the best exposure for your property. Second, make sure the agent is a member of The Bahamas Real Estate Association and, more importantly, a member of the Bahamas MLS to ensure that they market both to prospective buyers as well as those who deal with prospective buyers, other agents in the market. Lastly, it would be wise to choose a company brand that will be recognized easily by the market you are trying to attract.

I am a licensed broker with RE/MAX Paradise Realty, a CRS designee, a member of The Bahamas MLS and I sit on The Board of Directors of The Bahamas Real Estate Association. I have a proven track record in dealing with international and local clients and my experience, vast network of contacts and keen understanding of the market will ensure that you get the quality of service you deserve.

Call me if you need help selling your Bahamas Real Estate. I look forward to speaking with you soon!

Timing is Everything....Especially in The Bahamas!

2010-04-07T06:55:00.000-07:00

While much of the investing world sits on the sidelines and waits for the real estate market to turn around, the opportunities for second home ownership in The Bahamas are really heating up! Activity for the first quarter of 2010 has surpassed all of our expectations and, as a result, many of the right priced properties are being bought creating a much more balanced supply and demand situation.

The government really encourages foreign investment and the process is not as daunting as one may think. The first thing to do is find a quality real estate professional, someone with experience and one that you can trust. This will help you in not only locating the right purchasing opportunities, but assisting you in being referred to the right attorney for your conveyance and title work as well as the right lenders should you require financing. The RIGHT real estate professional should be able to answer all of your questions, put your mind at ease and make the adventure of purchasing your very own piece of paradise a truly rewarding experience. It is not uncommon to become friends for life with your real estate agent!

If the thought of investing in a foreign country makes you uneasy, give me a call! I talk to people everyday about the beauty of The Bahamas, the excellent investment opportunities and relaxed way of life I have come to love. I am always here and ready to assist wherever possible.

Contact me for more information on investment opportunities in The Bahamas.

Bahamas Real Estate Assoc. bids Farewell to Wong

2010-03-26T08:45:00.000-07:00

After a two year reign, William Wong will step down as the president of the Bahamas Real Estate Association (BREA) with the ending of his term.

"It's been a very busy, exciting two years for the [Bahamas] real estate industry," Wong informed the Guardian Business. "They have not been typical years for our economy [and] BREA has certainly had a high profile over the last year. I'm thankful to the membership for their support and kind words and the board of directors have been simply outstanding in their support.

"We hope the government in the future, before they decide to make major changes to the economy in regards to real estate, will call on us. Our advice is free [and] we have no agenda, only to help our country and agents and brokers to make a decent living.

"I want them to champion this Freeport issue, which has been a thorn in our side," he added. "Hopefully we will be able to get those people practicing real estate in Grand Bahama and particularly Freeport to be licensed, with the [Grand Bahama Port Authority] recognizing BREA as the licensing agent for Freeport."

The new acting President of BREA, Patty Birch, was elected at the associations Annual General Meeting on March 25th 2010. The Vise President, also elected into office, was Sara Callender.

Original Article
Click here to read more RE/MAX Articles

RE/MAX Paradise Realty Brokers & Agents Receive Awards

2010-03-19T08:28:00.000-07:00

On March 1st, thousands of RE/MAX real estate agents from around the world descended upon Orlando, Florida to attend the annual RE/MAX International Convention to learn, network and enjoy the unique energy generated at the annual gatherings.

The Convention offered educational classes, seminars to help improve and promote business, a trade show, and most importantly great networking opportunities between RE/MAX agents. There was also the annual awards banquet honoring top producing agents and offices.

Principal Broker of RE/MAX Paradise Realty, Craig Pinder, who was awarded the 100% Club Award for sales performance in 2009, said he was “very pleased to receive the award” and he would continue to “take RE/MAX Paradise Realty to the next level of customer satisfaction.”

RE/MAX Paradise Realty’s Zack Bonczek, broker and sales manager, and Jennifer Higgs, broker, both received Executive Club awards for their sales performance and achievement in 2009.

“it is extremely important to attend these annual conferences so that brokers and agents can learn new skills and techniques that will ultimately better serve our clients” said Mr. Bonczek. “RE/MAX is unmatched when it comes to educating its members and giving them the tools to be the best.”

Mrs. Higgs agreed and said "We learned a lot and had fun meeting wonderful people from all over the world. It was inspiring to see how many agents have soared to the top through RE/MAX. We’ll definitely be in Las Vegas next year."

Education was front and center throughout the week. Tip-filled sessions on social media, marketing, technology and other relevant topics were held each day. “It was wonderful, a lot of very useful information,” said a former agent, Nassau sales associate of RE/MAX Paradise Realty. “We’re excited to get back to our office to practice what we learned.”

Frank Knowles, RE/MAX Paradise Realty’s agent in Hope Town, Abaco, said that he “thoroughly enjoyed meeting and learning from such a vast network of realtors, especially from RE/MAX Cayman agents who we share a lot of similarities with.”

RE/MAX is a global franchise of more than 6,800 independently owned and operated offices in 70 different countries and nearly 100,000 agents.

RE/MAX was founded in 1973 by Dave and Gail Liniger. From a single office in Denver, Colorado, RE/MAX has grown to be a global network of nearly 100,000 sales associates in more than 75 countries. RE/MAX was honoured as the leading real estate franchise in the “2009 Franchise Times Top 200.” No one sells more than RE/MAX!

Original Article
Click here to read more RE/MAX Articles

Some Great News for The Bahamas Economy!

2010-03-10T08:21:00.000-08:00

Despite the ongoing pessimism regarding the global economic outlook, The Bahamas continues to get great news with the announcement of some very positive events!

Firstly, the Minister of Tourism, Mr. Vincent Vanderpool-Wallace was quoted recently in The Nassau Guardian newspaper as saying, "In the middle of a recession, 2010 will see an increase of over 400,000 new air-seats bringing a potential visitor spend of an additional $400 million compared to 2009," during a debate on the government's mid-year budget in the Senate. "These new seats include non-stops to Exuma, to Abaco and to Eleuthera from the United States and Canada that have either never been seen before or haven't been seen in decades."

This potential injection of revenue into the local economy will surely have a profound effect on the economy of our country! Mr. Vanderpool-Wallace went on further to say, "We are restoring the proximity advantage of The Bahamas by having that proximity reflected in the cost of travel to The Bahamas. That, as I mentioned earlier, is the first of six strategies that we outlined for tourism over a year ago. There is very strong research to show that for flights under three hours in length, the customer would rather spend their hard earned money enjoying themselves at the destination instead of consuming their funds in airfare cost in traveling to the destination. We are obliging them." The remarkable part to this statement is that proximity not only the tourist visitor but the second home owner as well!

Another very encouraging bit of news is that the new Baha Mar Resort in Cable Beach seems to finally be moving forward with the release of the news that there will be an estimated $7 Billion (with a B) in wages injected into the Bahamian economy in the next 2 decades. A report by the Oxford Economic Company, seen by Guardian Business, set out some of the key economic benefits which could create a "transformative economic event for The Bahamas in terms of tourism, economic multiplier effect, infrastructure and social change".

Yesterday Hu Dingxian, Ambassador to The Bahamas for the People's Republic of China, re-asserted his country's commitment to the project saying: "Baha Mar is an important project for the long-term benefit of The Bahamas. It is exciting that two Chinese companies, China's Exim Bank and China State Construction, are participating with Baha Mar to bring this project to fruition."

The benefits outlined in the report include:

* 6,500 Bahamians directly employed by Baha Mar by 2014
* A further 2,000 jobs indirectly created by the project, totaling 8,500
* $5.5 billion in direct wages going straight into the pockets of Bahamian families
* A further $1.5 billion in salaries for those indirectly employed
* A $14.8 billion contribution to The Bahamas gross domestic product GDP - a massive boost to the national economy.
* $24.5 billion extra in visitor spending over a 20 year period, though spending and direct taxes, taking the total contribution for the resort to $33.6 billion over the next two decades
* An extra $6.2 billion in government revenues over a 25-year horizon.
* Visits to the property jumping from 250,000 this year to 644,000 by 2016, generating a predicted 2.3 million visitor nights. Figures have also predicted that the development will inject $880 million into The Bahamas in its first year of operation through direct taxes and spending.

It is clear to see that the future of the Bahamas economy and, as a result, the Bahamas real estate market will be enormously effected over the next several years! There is no better time than now to get into the Bahamas real estate market!

Original Article
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Buying your piece of Paradise

2010-02-26T07:55:00.000-08:00

There are 700 islands and cays (pronounced keys) making up The Bahamas creating a vast selection to choose from when it comes to buying your own piece of paradise in The Bahamas.

From remote out island homes or beachfront properties where you can listen to the sound of the waves and just relax, to the city life of Nassau where just about everything is at your fingertips, The Bahamas has something to offer every potential purchaser.

With so many choices available, speaking with a qualified real estate agent can help in locating a property that meets your personal investment objectives. Some people that have visited The Bahamas before may know exactly what they are looking for, and for others the decision may not be so clear. As a real estate agent, our goal is to uncover what type of property will meet your specific needs and assist you in buying that little spot to call paradise.

The first thing a potential purchaser should do after selecting the right agent will be to discuss what you are looking for regarding your potential purchase. By asking you questions and listening to what your specific needs are, getting to know you and your lifestyle, dreams and goals, along with gathering other important information, your real estate agent will then be able to guide you to properties that meet many or all of your criteria making the process much easier and therefore giving you the right options to choose from.

If you are looking to purchase your idyllic spot in The Bahamas, let a qualified RE/MAX real estate agent assist you in making the right decision to achieve your real estate goals.

Original Article
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Grand Bahama real estate springing forward

2010-02-18T07:53:00.000-08:00

Real estate in Grand Bahama appears to be bouncing back before any of the other islands, with that island's Chamber of Commerce chief noting a shift in particular in interest from second-home buyers.

"Real estate is coming back," said Chamber President Peter Turnquest. "Things have been slow in 2009, but they're beginning to see the return of the second home buyers.

"They're [also] beginning to see a bit of property value increase."

This follows a slow year for real estate sales in The Bahamas, where the entire market saw a shift in the time houses lingered on the market. Unlike most of the region and even the Family Islands, home and land prices in New Providence, however, have been largely recession-proof. That's despite a noted drawback in buyer enthusiasm.

But according to Turnquest, the tide appeared to be shifting for Grand Bahama now.

"There are great opportunities and deals in Grand Bahama," he added. "It's still one of the best buys in The Bahamas and maybe in the southern U.S.

"So it's a really attractive market."

Recently, the head of the Bahamas Real Estate Association suggested the holiday shopping season had provided the perfect opportunity for buyers to see as much as a 10 percent discount on property prices.

It's an opportunity created by relatively slow sales leading up to the month of December, something that has placed developers in a merry mood to bargain in order to generate sales. It's a developing trend that applies throughout the Family Islands.

Priced to Sell; Choosing the right Bahamas Real Estate Agent for You

2010-02-17T07:49:00.000-08:00

You have been thinking and rethinking whether you should put your house on the market and you have now decided that it is the right time for you to sell your Bahamas real estate.

The first thing you should do is contact a local real estate agent to assist you. “Who do I call?” you may ask. Well you need to find an estate agent that you will get along with. Pick an agent that is going to look out for your best interests and not just an agent who wants another listing under their belt.

Opening the telephone directory and randomly choosing a real estate agent is literally the ‘blind’ approach. You need to select an estate agent that will gel with you, an agent that you feel comfortable with and one that you can trust.

The first place you should look for a real estate agent is in your group of contacts; your family, your friends, your business partners, your co-workers, your friends friends etc. If you do not know an estate agent personally, ask your group of contacts; they probably have had dealings with an agent and can point you in the right direction whilst also informing you of agents or company’s not to have any dealings with.

After you have done some research on the agents and their respective companies, and narrowed the list down to about three or four agents, it is time to interview them. Arrange interviews with each agent so that you can find out who the best agent and company is to potentially market your property. As the agents are asking you questions on your home you can ask them questions on their experience, their respective real estate company, and what homes are selling for in your neighbourhood. If the agent is prepared they will be able to give you some information on themselves and their realty company. After each of the agents have left your property you will have a better feel on who they are and who they represent.

The estate agents at RE/MAX Paradise Realty are fully trained and prepared to list your home for sale. We offer information and statistics to help you in choosing us to represent you and your property, but we are not interested in getting a listing just to have it in our database. We are dedicated on listing your home at the right market price.

Listing your home with the right market price will benefit you. Rather than listing your home at an inflated rate and having it sit on the market for months or even years, reduce your asking price to the right market level. This will ensure your home is in front of more eyes which in turn will result in a quicker and more successful transaction.

Original Article
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The Bahamas Real Estate Market: Why we have survived!

2010-02-16T07:45:00.000-08:00

I am often approached by buyers, foreign and local alike, asking if the real estate market has suffered like that of our neighbours to the north. The answer is a resounding "Not even close!" Typically there is an uncomfortable silence on the other end of the line and then I begin to explain.

The Bahamas real estate market is a very unique creature indeed! We are geographically close to the US and our government and currency are stable. We enjoy a year around climate that is sunny and warm and our islands and our people are equally as beautiful. Our banking industry has very prudent lending practices which enables them to minimize their risks while maximizing their returns. We did not experience a "credit crisis". Another interesting contrast with the US real estate market is that we do not have an over abundance of inventory. We do not have neighbourhoods that are 50% or more in foreclosure. We have not seen a huge sell off of foreign or locally owned properties. We have enjoyed a relatively balanced supply and demand situation.

While I would be remiss in not mentioning a correction in pricing, all markets across the globe will, from time to time, experience some correction. This is healthy for the market and healthy for the economy as it allows the more prudent investors the opportunity to enjoy the benefits of home ownership in a slower market.

If you are interested in learning more about our market and it's dynamics I would be happy to discuss it with you. There is much to learn but one thing is for sure: There is no better time to get into the Bahamas real estate market!

Original Article
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$5 billion plus in homes on the Bahamian market

2010-01-14T07:40:00.000-08:00

'For Sale' signs are becoming an increasing sight on Millionaires Row with more than $5 billion worth of luxury homes now on the market throughout The Bahamas, as the super-rich look to cash in their chips during the downturn.

More than 330 properties valued at $1 million or more across the islands are currently up for sale - ranging from $39 million private islands to two bedroom beach-front homes just sneaking into seven figures - a marked upturn, property experts say.

John Brian Losh, founder and publisher of luxuryrealestate.com - which features all the plushest lots on the Bahamian market, said: "Inventory is definitely up and prices are down, there are some incredible buys out there right now.

"We have seen prices dip about 20 per cent on the highs we were seeing two years ago and there is a marked increase in the value buyers can achieve. As one customer put it to me 'a recession is a terrible thing to waste'.

"Each property up for sale has its own story but we are seeing vendors who are motivated to sell, as opposed to the past in which people only sold if their property was worth more than they paid for it.

"From my point of view the prices now are normal, the market has readjusted itself after the highs of the past.

"Transactions are down but they are taking place and there are some big big deals out there.

"Prices are down on everything and right now buyers are aggressively testing the market.

"There is optimism among our members though, we have 1,000 worldwide, real estate is a great edge against inflation and you can enjoy in a way you can't with gold."

One of the most expensive properties on the market currently is a $32.5 million estate on Paradise Island which features three separate houses, three docks, and slips for 12 boats are spread over nearly four acres. There is more than 1,700 feet of water frontage. The main house has more than 6,000 square feet of living place with 10 bedrooms and 12 bathrooms.The property, also features a helicopter landing pad, a heated pool, and a detached recreational building.

President of Bahamas Real Estate Association William Wong said that the market was a mixture of the super-rich being forced to sell-up during the recession and investors wanting to test the market or offer for sale completed developments.

He said: "Some sellers are looking for cash and others are seeing what they can get but what is clear is that it is very good time to buy. Cash is king! There are some good deals out there to be had and some buyers are offering ridiculous amounts seeing if they can land a bargain. Sometimes they do and sometimes they meet in the middle.

"The feeling is that the market is picking up and we hope that continues. What is clear is that those in the real estate business need to sharpen their pencils and go out to make business happen.

"The boom days of sitting back and it all coming to us are over. Those who want to survive need a different game plan."

New Grand Bahama resort opens

2009-12-30T07:38:00.000-08:00

A new resort has opened on the west end of Grand Bahama.

Nandana, which means 'paradise' in the Indian language of Sanskrit, is designed in the style of a Thai beach mansion. The resort comprises more than 18,000 square feet of living space and offers guests the luxury of a five-star hotel, with the intimacy of an opulent private home.

In the center of the resort is the Great Hall, a soaring main house with living and dining areas and a 40-foot-high ceiling. Surrounding the main house are five one-bedroom suites, including two 1,000-square-foot beach front pavilions, two garden bungalows, and a 2,000-square-foot luxury canopy suite.

The resort also has a 5,100-foot landing strip, for guests arriving by private jet, as well as a deep-water canal leading to two sheltered on-site docks able to harbor a pair of 100-foot yachts.

On-property staff provide the services of an estate manager, concierge, chef, masseuse, personal housekeeper, butler, chauffeur and boat captain.

Bahamas Banking sector to receive more taxes

2009-12-15T07:36:00.000-08:00

The domestic banking sector of The Bahamas is set to be hit by increased taxes next year, Prime Minister Hubert Ingraham has vowed.

Speaking at a press conference at Nassau' airport the Prime Minister said: "The banking sector in The Bahamas is under-taxed, we've made that point before. We began last year increasing the licensing fees for banks in The Bahamas, that is inadequate.

"The banking sector should pay more and in due course they will be required to pay more."

One leading light in the financial world to agreed that the banking sector should be taxed harder.

President/chief executive of British American Financial Chester Cooper said: "Many offshore centers like the Bahamas appear to be increasing indirect taxes with a view to avoiding the implementation of more direct means of taxation such as income taxes or Value Added Taxes (VAT).

"Quite frankly, in time we will find that we have delayed the inevitable. Direct taxation although not without its challenges will be more efficient in terms of collections and otherwise, but is more progressive and equitable as well.

"It has long been the view that banks in the Bahamas are under-taxed and the formula quite rightly needs to be re-assessed. Insurers for example, pay a percentage of top line Gross premiums by way of premium taxes. This amount can work out to be inequitable and substantial, as there is no regard for whether the company makes a profit or not."

10 Ways to Spruce up your Property

2009-11-30T13:23:00.000-08:00

Are you a landlord who is ready to have a tenant in your place? Are you a homeowner who is ready to sell their home or condo etc? Do you have updates and improvements to do on your place but not sure where to start or what to do?

If you are, I suggest you read the article '10 Ways to Spruce up your Property' to help you along your way. This article was written by RE/MAX Bahamas Paradise Realty just for you!

The topics covered in this article are:
1) Un-clutter your Space
2) Fresh Paint Job
3) Crown and Floor Molding – Install and Paint
4) New Electrical and Light Switch Plates
5) Front Door
6) Update the Kitchen
7) Update the Bathrooms
8) Clean the Tile Grout
9) Clean the Carpets
10) Go Green and Add Plants

Click here to read the full real estate article on 10 Ways to Spruce up your Property.

Dominican Republic Condo's

2009-11-20T10:13:00.000-08:00

Through my internet browsing and website hoping I came across this website which offers information on the condominium development called Infiniti Blu, which is based in the Dominican Republic. I thought that I'd share it with you.

'Infiniti Blu' is a new development located in the booming tourist community of Sosua, North Coast of the Dominican Republic.

Dominican Republic Real Estate - Infiniti Blu offers oceanfront and poolview condos for sale in Sosua, North coast of the Dominican Republic

Beautiful Treasure Cove Home for Sale

2009-08-26T08:46:00.000-07:00

Perhaps one of the most unique offerings in Treasure Cove, this beautifully designed and impeccably maintained family home is ready for immediate occupancy.

Situated on a desirable corner lot and enclosed with privacy fencing, this residence affords the first time home buyer a unique opportunity to live in a gated, safe environment while enjoying modern finishes and lush surroundings.

Treasure Cove is located on the southeastern area of New Providence and has become one of the most popular gated residential areas of Nassau due to its beach frontage, secure family atmosphere, large park & playground, and close proximity to schools and shops.

To view additional information and photos of this 3-bedroom home please visit ParadiseBahamas.com and Quick Search for Listing #3076.

Gated Community Rental - Back on the market

2009-08-20T11:50:00.000-07:00

This Montague Villas Duplex for Rent has just come back on the market and it is looking for a tenant to call it Home.

Located in the back section of the gated community of Montague Villas sits this newly built fully furnished duplex. You will feel safe and right at home behind the gates of Montague Villas, which is centrally located on Village Road. Shops, schools, restaurants and more are located within walking distance so you'll never have to stray too far.

To view additional information and photos of this 2-bedroom Duplex please visit ParadiseBahamas.com and Quick Search for Listing #2544.

RE/MAX Bahamas now on MySpace!

2009-05-06T07:55:00.000-07:00

RE/MAX Paradise Realty has now joined the social network MySpace! If you are a member of MySpace and you would like to be friends to stay up to date with real estate in The Bahamas then click here: RE/MAX Bahamas

Find RE/MAX Paradise Realty on MySpace here and add us as a friend.

RE/MAX Paradise Bahamas now on Twitter!

2009-04-27T10:10:00.000-07:00

Do you have a Twitter account and would like to stay in the "know" with real estate in The Bahamas? If you would like to know what is going on in the Bahamas real estate industry then click here: RE/MAX_Bahamas

RE/MAX Paradise Realty has now joined the Twitter community. Find RE/MAX Bahamas on Twitter and stay connected at: http://twitter.com/REMAX_Bahamas

New RE/MAX franchise in The Bahamas

2009-03-30T09:33:00.000-07:00

- Denver, CO – RE/MAX International Inc. celebrated the official signing of the Commonwealth of the Bahamas - the 73rd country to join the RE/MAX global network - with a flag-raising ceremony at its Denver headquarters.

Two new Broker/Owners are making a splash in the Bahamas with the opening of separate offices in Nassau, Bahamas.

Craig Pinder, Broker/Owner of RE/MAX Paradise Realty, and William Wong, Broker/Owner of RE/MAX Ocean Realty, are the network’s newest additions.

Formally named Paradise Real Estate - one of the top Bahamas real estate companies - now RE/MAX Paradise Realty - have aligned themselves with the real estate powerhouse RE/MAX to serve you better.

“RE/MAX is recognized around the world and there is certainly a place for this powerful network in the Bahamas,” said William Soteroff, senior vice president of International Development at RE/MAX International. “The Bahamas has an established real estate market and agents and consumers alike will benefit from the international resources and tools that RE/MAX has to offer.”

RE/MAX Paradise Realty now offers the worldwide brand name of RE/MAX along with their expertise.

Bahamas MLS Update

2008-11-06T08:33:00.000-08:00

Back in May I first wrote about launch of the Bahamas MLS where at the time 81 out of some 600 licensed Bahamas real estate agents had signed up to use the brand new system.

It was projected by the Administrator of The Bahamas MLS, Heather Joy Albury, "that in 6 months time we would have doubled the agents and listings if not tripled [them]."

Since then the number of participating licensed estate agents have increased from 81 to 129, which is 33 members shy of the projected double figure. The amount of participating offices have almost doubled since May from 23 to 42. However the number of active exclusive listings have increased more than five times from 115 to 615 listings.

I questioned Heather Joy about if The Abaco MLS had joined The Bahamas MLS and she responded by saying that "The Abaco MLS closed in September" and that "most of the Abaco agents joined [The Bahamas MLS] in July."

The direction is looking positive for The Bahamas MLS and I'm sure that this trend will continue to grow.

Fourtune Hills Open House

2008-09-30T22:38:00.000-07:00

On Saturday (27th September) Paradise Real Estate had an Open House for it's exclusive development listing at Fortune Hills which is currently in Phase 1 of construction.

Fortune Hills, an environment where each resident can relax and unwind, is a new development comprised of 32 luxury two bedroom townhouses and three bedroom condominiums.

It is centrally located in a fully enclosed gated community which boasts panoramic views of New Providence. Comfortable, spacious residences also offer an in-ground swimming pool, club house and playground.

The affordably priced Fortune Hills is built with Bahamian style aesthetics and spacious floor plans.

Click the image below to read what was written on the front of the Business section of the Nassau Tribune.

Tribune Business, September 30th

Listed on Technorati

2008-08-20T08:38:00.000-07:00

Technorati Profile

More Home Models of Serenity

2008-08-07T08:53:00.001-07:00

Have a look at more of the models for the new development of Serenity. In total there are seven different models one of which is one storey (Saffron).

Tamarind

Coriander

Marjoram

Caraway

See the below post for the other three models of Serenity or click here.

New Private Subdivison of Serenity

2008-08-06T08:08:00.000-07:00

Single-family and Multi-family lots are available in Serenity, a brand new development located in the western area of New Providence Island in The Bahamas. The single-family (residential) lots start at $80,000 and the Multi-family (duplex) lots start at $100,000.

Serenity is a private residential development, providing the perfect opportunity for an affordable real estate investment in The Bahamas.

Serenity is a tribute to the tranquility that is installed in us by the best of traditional Bahamian Architecture. There are seven different models to choose from; Jasmine, Coriander, Tamarind, Marjoram, Caraway, Saffron and Sage. Each model home has been designed specifically to capture the essence of island living.

Being at home in Serenity will enhance your lifestyle. Feature amenities will include a Community Club House, separate adult and children's swimming pools, parks and tennis courts - all in one of the most competitively priced real estate developments available in New Providence today.

I had the pleasure of going to this new subdivision last week and I must say that I can see all the potential that this community has to offer.

Serenity's Home Models

Saffron

Jasmine

Sage

Bahamas Real Estate Changing Hands

2008-07-23T21:47:00.000-07:00

Last month Jennifer Knowles Higgs, an exuberant Bahamian Realtor, sold her exclusive waterfront listing, a Penthouse at Ocean Club Residences in Ocean Club Estates on Paradise Island for $7 million net.

Originally listed for the overpriced figure of $11 million gross, this unfurnished luxurious pad with breathtaking Harbour views was sold $3 million under the the asking price.

The former owner purchaed the Penthouse all in for $5.5 million and ended up selling it for $7 million net, making him $2.5 million [roughly] profit from the sale to a Swiss investor in August 2008.

MLS in The Bahamas - The future is now

2008-05-22T23:25:00.000-07:00

On March 17th 2008 The Bahamas MLS was launched, and since then 81 licensed agents of about 600 licensed agents scattered throughout The Bahama Islands, have signed on board to take part in the future of real estate.

Since the start of the industry in The Bahamas, it has been pretty much run the same. Sure Presidents and Board members a like have come and gone through time, but this is the first real step towards the 30th century if you will.

Last week I interviewed Heather Joy Albury, Administrator of The Bahamas MLS, who informed me that the newly developed Bahamas MLS system which is "a new concept" for The Bahamas, currently has "81 members from 23 different companies". From these 81 licensed estate agents, they have added 115 active exclusive listing on the new MLS for The Bahamas.

Heather Joy said, "[there is] positive participation within the MLS." She continued by saying "I believe that in 6 months time we would have doubled the agents and listings [on the Bahamas MLS] if not tripled [them]."

For a number of years, Abaco, one of the major islands in The Bahamas, had created and used their own MLS system aptly named The Abaco MLS. Heather Joy informed me that the "Abaco MLS will be joining the Bahamas MLS" sometime in the future so we have more to look forward to.

BREA Elected Board of Directors '08 - '09

2008-04-28T08:15:00.000-07:00

The Bahamas Real Estate Association (BREA) officially made a public notice in The [Bahamas] Tribune on Wednesday 23rd April 2008. Realtors who were elected 2008 - 2009 executives and directors of BREA pose for Keith Parker.

They are (Standing, back row, left to right):
Directors: Patty Birch, George Damianos, Mike Lightbourn, Zack Bonczek of Paradise Real Estate, Anthony Wells, Tracey Barone, Sandra Evans, & Sara Callender.

(Sitting, front row, left to right):
Treasurer: Virginia Damianos, Past President (2006 - 2008): Larry Roberts, Current President: William U. Wong, Vice President: Lana Basalyga-Munnings, & Secretary: James Newbold

Members not pictured are Cara Christie, Theodore Sealy, & Wendell Seymour.

Atlantis 'Reef' projected to be Sold Out in 1 year

2008-04-23T10:04:00.000-07:00

The Atlantis Reef condotel, consisting of 495 units, is likely to be sold out "within 12 months" if the sales pace is kept at the same momentum it is currently on. In the first three and a half months of 2008 (January to 21st April), fourty seven units were sold. Just over 70 percent of the condo units at The Reef Residences at Atlantis, Paradise Island have been sold.

Bruce Weiner, president and chief operating officer if Turnberry Ltd. , (Kerzner International's joint partner in this business venture) said "I would say that in spite of everything that is happening, given the economic slowdown we are doing good. Not great, it could always be better, but good.

"It's been good. Of course, I can't say what may happen later this year, but if we continue on the current pace that we are on now, we should be able to sell the remaining 146 units within 12 months."

Bahamas Real Estate still Going Strong

2008-04-09T18:29:00.000-07:00

The real estate market in The Bahamas is still going strong even with the US market, especially Florida real estate, in a tailspin. The prices for the condo units in Ocean Club Residences on Paradise Island have increased by $1 million in two years. That's pretty impressive!

A leading Bahamas Realtor said that even though signs have been seen with clients and potential purchasers holding back because of the "doom and gloom" activity in the United States real estate market, the Bahamas real estate market seems to be unaffected.

The Bahamas has special amenities such as it's close proximity to America, it's tropical island climate, and it's laid-back lifestyle. A leading Realtor said, "I don't see the [Bahamas real estate] market dropping. The market is still strong. People are still buying and moving here. We're holding our own and the demand is still there. We certainly haven't seen prices dropping. It's still strong on both ends [being the international and domestic sides]. Thank God we haven't seen the hit the US has taken."

"The prices at the Ocean Club Residences keep going up day after day. They're selling for more and more. Units there that were selling for $1.7 million are up to about almost $2.7 million now. They've gone up about $1 million in two years, since they put in the first pre-construction. That's an incredible return on your money."

Concerns Raised on Albany House

2008-03-27T09:16:00.000-07:00

A review conducted in July 2006 by the independent corporation of Black & Veatch reveals that construction of the Albany project could have significant impacts on the coastal resources and the marine environment. It also claims that Albany EIA did not comply fully with the guidelines set by The Bahamas Environment, Science & Technology Commission (B.E.S.T) or meet industry standards.

The report states that the "construction of the project will have significant impacts on coastal resources" and "construction and operation of the marina, jetties, and access channel and construction of other project components near the beach have the potential to cause adverse impacts to the marine environment."

The full 'Environmental Impact Assessment Evaluation Report' in PDF form can be found here:

Exclusive Ocean Club Waterfront Penthouse Listed

2007-12-21T12:52:00.000-08:00

This brand new penthouse, situated in the elite community of Ocean Club Estates on Paradise Island, boasts the most spectacular views of Nassau Harbour, the renowned Ocean Club golf course and the breathtaking turquoise & aqua of the ocean for miles.

This first class residence offers 5265 sq. ft. of interior living space that is outfitted with top of the line stainless steel appliances. An audio surround system has been installed throughout. Expansive balconies totaling 1600 sq. ft. allow for the utmost enjoyment of the views and tranquil ocean breeze.

Other features include exquisite hardware & finishes, central A/C and ceiling fans in every room, granite & marble countertops, solar tinted & storm resistant windows and doors, and generator.

Residents of this luxurious island retreat have access to a beautifully landscaped, waterfront property with two pools, the private beach club and the Atlantis resort.

The fully appointed beach club is nestled in the dunes overlooking Cabbage Beach and offers impeccable service. An infinity pool runs into the blue of the ocean, along with the seaside bar & grill, and two Har-Tru tennis courts.

The penthouse comes with two covered and two surface parking spaces. The owner may apply for a marina membership & boat slip if desired.

This Penthouse is on the market for $9,999,999 US dollars.

Click here to watch the videos of views from this Penthouse.

$25m boost from Baker's Bay

2007-12-15T11:58:00.000-08:00

About 350 Bahamian firms and individuals have benefited economically since 2005 from the Baker's Bay Golf & Ocean Club development on Great Guana Cay, Abaco. Executives from this company said that they have paid $25 million worth of invoices to Bahamian companies and individuals.

Dr Livingstone Marshall, Baker's Bay senior vice president of environmental and community affairs, said he had received a seven page report listing the 350 Bahamian firms and individuals who had benefited from Baker's Bay paying out $25 million in invoices to the likes of attorneys, engineers, surveyors and independent businesses.

Steve Adelson, a partner in the Baker's Bay development said, "We're spending an average of $7 to $8 million a month on the project, and 90 percent of that has direct impact, not only on Guana Cay but the Abaco's and the Bahamas as a whole."

Dr. Marshall said that once the project is in full swing "significant monies will be paid into the Public Treasury" which an assessment showed it was likely to amount to $540 million over a ten year period.

Bahamas Real Estate prices 'Not to Drop'

2007-11-15T21:32:00.000-08:00

Real estate drop in prices in New Providence "is not going to happen" a leading realtor told The Tribune (a local Bahamian newspaper) 13th November, due to the the limited supply of land and the increased demand in housing.

"Every time a new subdivision comes on the market it will sell" providing that they are priced correctly according to market value, he added.

On November 3rd the first Open House for the Coral Breeze Estates development was held which brought in ten deposits that day despite it being canceled due to the Tropical Storm Noel. This indicates the demand Bahamians have for middle-class housing.

Coral Breeze is located half a mile to the west of the main Coral Harbour roundabout, and it's property values are likely to increase because of the close proximity to the newly proposed development of Albany House and the South Ocean development.

"The amount of vacant property for sale is not that great, so every time a new subdivision comes on the market, if it's priced right, it will sell. " said Mr. Lightbourn of Coldwell Banker. "...and price-wise, these [Coral Breeze lots] are reasonably priced."

The first Phase of Coral Breeze Estates offered about 95 lots. The starting price for Single Family land was $90,000 and Multi-Family $95,000. Today the prices have increased - for Single Family the starting price is now $99,500 while the Multi-Family is going for $120,000.

Newly Listed - Cable Beach Home for Sale

2007-11-13T20:02:00.000-08:00

This lovely, 2-story cottage style home is nestled in a cul-de-sac overlooking a natural pond & sanctuary. This quaint retreat is located next to the newly developing Baha Mar project in the midst of desirable Cable Beach.

Approaching the front door, there is a large deck on the side that sits directly on the small lake/pond area. In addition, a free standing gazebo of about 200 sq. ft. is tucked away to the side; this area is an ideal spot for entertaining and enjoying nature's surroundings.

The interior square footage is approximately 2400 sq. ft. and is equipped with a spacious layout and large rooms. Downstairs offers a family/Bahama room, living room, kitchen, full bath and sizable laundry room.

The second level is constructed of wood. Pickled, exposed beam ceilings add charm and character to every room. The master has an en suite bath and balcony.

This is a great spot in which to invest or reside!

To see more Cable Beach Properties click here.

The Future of MLS in The Bahamas

2007-11-09T18:58:00.000-08:00

Many countries have a Multiple Listing System (MLS) which is an association of real estate Brokers who agree to share listings with one another. The Bahamas does not have an MLS in place as yet, but we are on our way.

The Bahamas Real Estate Association (BREA) finally decided this year to move in that direction so that we can theoretically go to one place (probably a web address) and find all the properties available throughout The Bahamas. The time has come for The Bahamas to have a country wide organized method of listing properties.

I sat down with Zachary Bonczek, a member of the BREA Board of Directors, who told me that, "...the MLS program will hopefully be in place at the beginning of the coming year."

My fingers are crossed.

Tide of investment sweeps The Bahamas

2007-10-18T18:28:00.000-07:00

This archipelago where Columbus discovered the New World and Hemingway fished has long been a winter hideaway for the super-rich, the titled and the famous, protecting their privacy and often their fortunes in lush enclaves far from the cruise-ship crowd.

Until now, the 700-plus islands have escaped the global real estate rush for a simple reason. "We have a limited supply of inventory," explained a predominant Bahamian Realtor.

From the capital city of Nassau on New Providence to less sparsely populated islands in the chain, high-end residential projects are in development with amenities that almost routinely include golf courses designed by champions, equestrian centers, full-service marinas accommodating vessels as long as 200 feet (or 60 meters), private air strips, dive shops, spas, unspoiled beaches and turquoise waters.

Almost anything built in the Bahamas these days is considered upscale, with developers courting clients who have multiple homes around the globe. But the prices, linked to the American dollar, look like bargains to anyone paying in pounds or euros.

Given Florida's proximity to the Bahamas - only about 50 miles, or 80 kilometers, at the closest point - the primary market for the luxury construction will be the United States and Canada, but the strength of European currencies, favorable residence requirements and tax laws draw investors from farther afield.

J.F. Barton Contracting of Houston, for example, which is developing Roker's Point at Emerald Bay in the Exumas, made its first sale to Millwood International, whose stockholders come from northern England. Multifamily condominiums are planned on the 2.7-acre (or 1.1-hectare) parcel.

On New Providence, Lyford Cay, whose residents include Sean Connery, has been the international gold standard for gated luxury. Now another of its homeowners, Joseph Lewis, the British-born founder of the Tavistock Group, is working with the golf champions Tiger Woods and Ernie Els to develop Albany Golf & Beach Club. The original mansion on the property and the Ocean Club, a resort and residential development on Paradise Island, were featured last year in "Casino Royal," the latest of many James Bond movies filmed in the Bahamas.

The Ocean Club is part of the Atlantis complex created by Kerzner International, which has a monopoly on Paradise Island until 2034. Lots at the Ocean Club, with a marina and a golf course designed by Tom Weiskopf, doubled in price in the first four years and doubled again in the last two years, said a Bahamian appraiser. A $1.3-million lot now could sell for $3 million to $5 million, he estimated.

Kerzner's Atlantis Resort rises like a sugar-spun fantasy on Paradise Island but soon will be rivaled in size and imagination on Grand Bahama by the Florida developer Bobby Ginn's $4.9 billion Ginn Sur Mer. The resort community promises a Monte Carlo-style casino, nearly 12 miles of beaches, a private airport accommodating the largest corporate jets, a grand canal and golf courses by Jack Nicklaus and Arnold Palmer.

"We've been to every island in the Caribbean researching and ended up in the Bahamas," said Greg Ulmer, vice president for sales and marketing at Ginn Sur Mer. Internationally, residences will be offered through a Ginn office in England and test marketing in Beijing.

Hutchison Whampoa, the Hong Kong conglomerate that manages the island's ports in partnership with the Grand Bahama Port Authority, has just announced Silver Point Ocean Club, only 120 units but each with its own boat slip for crafts up to about 90 feet.

"We have a lot of land banked to do future projects," said Jon Markoulis, CEO of Hutchison Development in the Bahamas.

Rum Cay, the size of Manhattan, had about 80 inhabitants and no electricity when John Mittens first visited in the 1980s. The British telecom engineer, who founded Interoute, Europe's largest fiber-optic network, says he was "immediately smitten." Today his Nassau-based Montana Holdings is developing the 870-acre Rum Cay Resort Marina. Condo townhouses start at $900,000; beach property goes for as much as $3.5 million.

"Now you can dial the world from Rum Cay. A large fiber-optic cable connects all the islands with infinite bandwidth for all communication and entertainment. When we first went there, no one could call on cellphones," Mittens said. He added with some regret, "Today, phones keep ringing."

With a protected 27-acre marina, which can accommodate the largest yachts, Rum Cay initially targeted North American boaters and fishermen but now sees an international market. "We've been in earnest discussion with people in the U.K. and developing sales channels in the U.K. and other places like the Middle East and Russia," Mittens said. "Europeans tend to travel very well. The Brits, the Dutch, the Germans, the Scandinavians don't have trouble with distance. It's the same travel time as to Florida."

On Great Abaco Island, Peter de Savary, the British-born entrepreneur, has started the Abaco Club on Winding Bay with The Ritz-Carlton. The private club, with cottages and estate-size lots, features a Scottish-style golf course designed by Tom Mackenzie and Donald Steele.

Great Guana Cay off Abaco, formerly a Disney cruise-ship destination, is the site of Baker's Bay Golf & Ocean Club, developed by the Discovery Land Co. of Scottsdale, Arizona. With prices as high as $5 million, buyers have a choice of beachfront homesites, beach club cottages and boathouses where the family yacht can be moored below. Baker's Bay plans to court Europe's yachting set through representatives in England.

Eleuthera, a fishhook-shaped island with pink-sand beaches, is retooling old sites for the new rich. Cotton Bay Estates, the first high-end project led by native Bahamians, recalls the days when Juan Trippe, Pan American Airways founder, created the Cotton Bay Hotel and Golf Course as a playground for his friends. The new Cotton Bay is being built adjacent to the old site. A Club Med, destroyed by a 1999 hurricane, is being redeveloped as French Leave Resort with oceanfront condominiums and residences.

Windermere Island, Eleuthera's equivalent of Lyford Cay, is a favorite with the Mountbatten family, including Prince Charles, and counts an Irish duke among its residents. The late David Hicks, designer and father of the prince's goddaughter and cousin, India, built an Egyptian-themed home there. She now makes her home and living on nearby Harbour Island, which she predicts will be the next St. Barts.

Because the Bahamas have catered to the super-high-end, which often deals only in cash, the country has escaped the overbuilding, flipping and mortgage woes of neighboring Florida, but new developments have raised land-use and environmental concerns. Some residents of New Providence, where 70 percent of the roughly 300,000 Bahamians live, worry that more gated communities will squeeze them into the center of the island.

For now, private estates and private islands remain the heart of Bahamian luxury real estate. A British buyer recently arrived in Nassau cash-flush after selling property in England. He needed only a few days to scoop up a three-acre waterfront mansion, which had languished on the market for several years; it sold in the $3 million range. Private islands, acquired by celebrities like Nicolas Cage and Johnny Depp, can still be found for as little as $350,000.

What the Bahamas has lacked in inventory, it makes up for in the number and variety of islands.

Re-published by Dragon Eyez
Originally by Nancy Beth Jackson, International Herald Tribune.

China Loans $530m to Promote Investment

2007-09-10T22:42:00.000-07:00

Over the next three years The Bahamas will benefit from China's preferential loans to promote Chinese business within the Caribbean.

Last year the trade volume between China and the Caribbean region reached a record high of $4.4 billion - a 64 percent increase over the prior year.

With the Chinese government implementing actions to "push" their people, whether for business or personal pleasures, to Caribbean destinations, one can almost brace themselves for the impact that will no doubt be felt.

There will definitely be a flux of Chinese people, products and business flocking to the Caribbean region. This "flux" will impact the real estate market. It may not be seen in the first few years, but it will be in the following.

Albany House Phase 1 Costs

2007-09-06T21:30:00.000-07:00

Construction on the Albany Golf & Beach Club's first phase is estimated to cost $66.11 million.

The Environmental Impact Assessment (EIA) said that most of the costs of phase 1 would be incurred from the golf course and infrastructure. Previous costs were estimated at $14.5 million, with Albany's own roads, parks, ponds and lot servicing costing an additional $13.17 million. That totals to $27.67 million, which is a far cry from the new estimates; $38.44 million to be more precise.

Further costs in the construction of the first phase would include:
* $3.2 million for modifying Albany House
* $8.7 million for the marina
* $3.6 million for a perimeter wall and security equipment
* $2.9 million on entry gates
* $5 million for a water park and adult swimming pool

Treasure Cove Home Just Listed

2007-09-05T21:30:00.000-07:00

Have you heard of Treasure Cove before? It's a lovely family oriented community with Nassau's premiere school (St. Andrew's School) not even one minute away from the entrance gates.

Enjoy the good life in this charming 3 bedroom family home in the gated, oceanfront community of Treasure Cove.

Check it out here.

Paradise Real Estate Launches New Website

2007-09-01T11:18:00.000-07:00

In march of this year (2007 for those battling to keep up with the rest of us) Paradise Real Estate (PRE) re-launched their website to the world. This new website was designed around ease of use and functionality. Everything flows so smooth on their new website; pages seem to glide.

From their information About The Bahamas and Bahamian Communities and their Buyer’s Guide & Seller’s Guide to their Advanced Property Search, one can see the devotion & intelligence Paradise Real Estate has as a company and as individuals themselves.

The Bahamian web company Thyme Online undertook the project of creating an inviting and easy to use website for PRE. Thyme Online has recently reached a personal milestone in it's history, with more than 100 websites currently online. They have clients from The Bahamas, Montserrat and Anguilla, to the United States and as far away as Sweden.

Albany gets "two thumbs up"

2007-08-31T22:50:00.000-07:00

The $1.3 billion Albany Golf & Beach Resorts' managing partner Christopher Anand told The Tribune in an interview that he believed the project received "two thumbs up" after residents participated in a Town Meeting a few days ago.

"The process has been a long one," Mr. Anand said. "This is one last chance. If we don't get that yes in the next seven weeks, there is no project and South Ocean will suffer.

"I think the impact of that on the tourism business will be a tragedy, given the number of rooms, jobs and what South Ocean will do. The profile of this project is unprecedented. It will be the most high end development of its kind in the Caribbean."

About three other Caribbean countries contacted the Tavistock Group when they heard the project would be going to The Bahamas (because they wanted it themselves); however the developers remained committed to this nation.