Coldwell Banker Islands Blog

The Cayman Islands Sailing Club (CISC) will be hosting Race Cayman on March 10-16, 2010. This is the largest international sailing event ever to be held in the Cayman Islands. It will highlight the growth of sailing in Cayman and the development of young Caymanian sailors to an elite internatonal standard.

The sailing event will feature the Youth Olympic Games Regional Qualifier, the Byte CII North American Championship, and the CISC International Invitational J/22 Regatta. Over 80 sailors are registered in the event with 17 countries represented from around the North American and Caribbean region and Europe. A total of 25 races will be held over the six day event.

Thirty-six young sailors, aged between 14 and 17 years, will compete in the Byte events, hoping to qualify their nation for the Youth Olympic Games in Singapore in August this year. Lizzy Wauchope, Chris Delaney, Oliver Fogarty and Ben Williams will be competing for Cayman in the Byte class against the best young sailors in the region, including strong teams from Bermuda, Canada, Netherland Antilles, Barbados, Jamaica, Cuba, Dominican Republic, Guatemala, Spain, St Lucia, USVI and USA.

Further information is available from the Cayman Islands Sailing Club www.sailing.ky or from the event website www.bytechamps.org.

2010 is the Iternational Year of Biodiversity, and the National Trust for the Cayman Islands will be holding a dinner in March for those who have contributed $2,500 CI or more to their efforts. The non-profit Trust exists to protect land that is under threat of being destroyed or negatively affected by development.

The United Nations has declared 2010 the International Year of Biodiversity as a celebration of both life on earth and of the value of biodiversity for human life. The UN has invited the world to take action in 2010 to safeguard the variety of life on earth, its biodiversity.

In recognition of the UN’s declaration, the National Trust is seeking to raise donations for the Land Reserve Fund, which will aid in the purchase of biodiverse land throughout the Cayman Islands.

For information, visit National Trust.org.ky

According to a recent survey by Coldwell Banker Real Estate LLC among its network of real estate professionals, in the last 12 months, 37% of sales professionals surveyed noted an increase in home buyers looking for homes that can accommodate more than one generation of their family. In addition, almost 70% of Coldwell Banker sales agents believe that economic conditions may cause greater demand for multi-generational homes in their market during the next year.

The Coldwell Banker respondents cited financial drivers as the No. 1 reason why home buyers or sellers are moving into a house with other generations of their family (39%). Twenty-nine percent said that health care issues are the primary reason, and 6% cited a strong family bond as the main factor.

Sellers with “mother in-law suites” or additional spaces that could accommodate a family interested in a multi-generational living arrangement should highlight this aspect of the home. Whether it’s a garage apartment or refurbished basement, this separate space can help one home stand apart from the others on its block.

Buyers must be clear about their exact needs. Some families may just want an extra bedroom or two for family members, while others require areas with a separate kitchen, entrance, handicap accessibility or even a larger garage for additional cars. Desired location may also be influenced by proximity to local hospitals, senior centers or other important activities to family members.

Extended families purchasing a home together should consider signing a written contract outlining everything from finances to chores and childcare. Each family should assess their situation individually and find a plan that works best for them.

Check with our Coldwell Banker Island Affiliates for advice and resources if you want to purchase or sell a home that might be suited for more than one generation.

This is a great wealth-building opportunity and a chance to hit the ground running with an investment in this 6 unit complex. All units are 1 bed, 1 bath, 675 sf, in good condition and ready to go. This well-performing property shows a solid 9% ROI at full occupancy. Perfect for the 1st time investor. Asking $657,400 US.

Visit our Coldwell Banker Listing page for details and photos.

Heavy industrial site on the By Pass available on Grand Cayman. Excellent location with great visibility from the By Pass, and rare zoning. Needs fill & clearing +/-CI$3.00 sf. 1.358 acres, access through Bronze Road. Asking $791,500.

Visit our Coldwell Banker Listing page for details.

You’ve decided to sell. Look at your home through the eyes of a prospective buyer and be honest with yourself: what needs to be cleaned, painted, repaired and tossed out or given away? If you were buying this home what would you want to see? Your goal is to make your home look good, maximize space and attract as many buyers as possible.

The first and most important thing you want to do in preparing your house for market is to make sure it has good curb appeal. Curb appeal is simply the first impression a prospective buyer gets when driving by the house.

It has been said that up to 80% of the decision to buy a house is made before even entering the home, so it doesn’t matter how great your house looks inside if buyers won’t go through the front door. You could have the greatest floor plan, and the greatest decor, but if your house is unsightly from the outside, a lot of people will never ring the bell.

So by all means start on the outside of the house and use common sense. Keep the lawn mowed and watered, trim the shrubs, make sure there isn’t any peeling paint, and keep weeds out of the flower beds. Put some color in the landscaping and plant some flowers.

Make sure there aren’t any unsightly vehicles in the driveway. If you have an older car that looks its age, park it down the road or at a friend’s house. Keep the yard clean and pristine. When you can look at the outside of your house from the street and it looks better than it ever has, it is time to move to the inside of the house.

Here’s a checklist:
- Water, mow, weed, & edge lawn regularly.
- Trim hedges,prune trees, and tend to flowerbeds regularly.
- Mend cracks in walkways, driveway, walls, foundation, and patios.
- Patch up or repaint doors and windows with peeling paint.
- Clean and align gutters.
- Repair and replace loose or damaged roof shingles.
- Repair and repaint loose siding and caulking.
- Keep your garage door closed.
- Move old cars elsewhere while the house is on the market.
- Be sure your front door area has a warm, “Welcome” feeling.

Inside you want to make things look as open and bright as possible. Keep all the blinds and curtains open and the windows clean. If a room feels or looks cluttered, move some of your extra furniture into a storage space or a friend’s house. Remember, you’ll be moving anyway, so start sorting and have that garage sale.

Keep the inside of your house smelling good. Any senses you can stimulate when someone enters your house will help create emotional attachment to the home. Don’t overdo the aroma therapy, but make the house smell pleasant - no stale cooking odors, no pet odors, no diapers.

Keep everything as clean as you can. Give the impression that you take care of your property and care about your home. You want your house to look, feel and smell it’s best. Make those repairs you’ve put off so doors work well and the plumbing doesn’t drip. Purchase a couple of ceiling fans or small room fans to keep it cooler for showings.

Are you ready for Buyers:
- Repaint walls or replace carpets with neutral colors.
- Fix all cracks, leaks and signs of dampness in the attic.
- Fix all cracks, holes or damage to plaster, wallboard, wallpaper, paint, and tiles.
- Replace broken or cracked windowpanes, moldings, and other woodwork.
- Repair leaky faucets and showerheads.
- Clean and remove clutter to make your house appear bigger and brighter.
- Rent storage to keep the garage and attic clear.
- Remove excess or very large furniture.
- Hire a professional cleaning service once every few weeks while the house is on the market.
- Remove as many items from kitchen counters, closets, and attics to make your house seem more spacious.
- Make your kitchen and bathroom look as bright and fresh as possible.
- Use your nicer guest towels in the bathrooms.
- Hang up fresh curtains.
- Install new cabinet knobs.
- Make sure kitchen and bathroom are clean and odor free.
- Replace burned out light bulbs.
- Open drapes and blinds.
- Don’t let pets wander around the house during showings.
- Don’t leave dirty dishes in the sink or laundry in the washer or dryer.
- Make the beds.
- Put on soothing music.

Remember that people make emotional decisions. We justify with logic what we decide with emotions. Keep your mind open, try for a warm and bright interior, have great curb appeal, and you will be on the right path to preparing your house for the market. Our Coldwell Banker agents can answer any questions you have about getting ready for a sale, and advise you on the best timing for the highest price.

The best built house in Cayman. New home, very private, has everything, built to last forever. 5 bedrooms, 5.5 baths, 7250 sf Canal front home, 0.8 acres, 12′ above sea lovel. Asking $5,950,000.

Patrick’s Island is in Red Cay on Grand Cayman. There are residential properties, lots with partially completed buildings, and vacant lots, as well as condos.

Visit our Coldwell Banker Listing page for details.

Shopping for a new home is an emotional experience. It is, however, also a business transaction, and must be treated as such.

Three of the most devastating things that can go wrong are:
^ Paying too much
^ Losing a dream home to another buyer
^ Buying the wrong home

When you have a systematic plan before you shop, you’ll be sure to avoid these costly errors. Here are some tips on making the most of your home purchase:

Get the information you need
What price do you offer a seller? Is the seller’s asking price too high? Is it a deal? Your own research is important, as is the assistance of a Realtor. A professional Coldwell Banker Realtor can offer an unbiased opinion on the value of a home, based on many factors and a great deal of information. Without knowledge of the market, your offer could be too much. Or worse, you could miss out on a great buying opportunity. Hire the right person and trust that person to represent your interests.

Buy YOUR home
What do you need and want in a home? Sounds simple, but clearly identifying your needs and bringing an objective view to home shopping leaves you in a much better position. How much space do you really need? Too small and you may feel like you live in constant clutter. Too big and maintenance may become too daunting. Outline all of your priorities, and work on finding not just a great home, but a great home for you.

Check the title
Before you sign any document, be sure the property you are considering is free of all encumbrances. As a part of his or her services, a Coldwell Banker Realtor can supply you with a copy of the title to ensure there are no liens, debts, undisclosed owners, leases or easements against the title.

Update the survey
Before the purchase is completed, an updated survey is essential. This report will indicate boundaries and structural changes (additions to the house, a new swimming pool, neighbor’s new fence which is extending a boundary line, etc.), and will guarantee that you are indeed getting what you pay for.

Minimize the unexpected
For $300 - $500, a professional inspector will conduct a thorough inspection of the home. His/her expertise can mean the difference between uncovering major flaws before or after you own a home. Make the final contract subject to the report’s findings.

Get pre-approved
It only takes a few days to get financing pre-approval. When you are shopping for a home, this gives you more power. A seller is more likely to consider an offer from a serious buyer.

Remember additional costs
Besides the funds for the purchase of a home, you’ll need funds for items such as loan fees, insurance, legal fees, surveys, inspections, etc.

Take a deep breath
Before you sign, ensure that all documentation clearly reflects your understanding and conditions of the transaction. Has anything been forgotten? Don’t rush. You could lose money, financing, or even the sale if you attempt to push things through too hastily.

This is a Governor’s Harbour Canal Lot on Jellico Quay of 0.2931 acres. corner lot with 2 sea walls and 200 ft. on the canal. Full 200 ft of dock already in placve on both seawalls. Governor’s Harbour is one of Cayman’s prestigious waterfront communities. Just 2 minutes away from Seven Mile Beach and easy accessto Cayman’s famous North Sound. Safe, secure anchorage on a lovely canalfront lot. Asking $349,000.

Read more on our Coldwell Banker Listing page.

The third instalment in the “Green Guide” series of environmental education publications, sponsored by a partnership between the Central Caribbean Marine Institute and the Ogier law firm, will be available 15 April from schools, some retail outlets, government buildings and tourist attractions.

This most recent of three guides focuses on sustainability and takes a comprehensive look at the challenges facing the Cayman Islands, offering practical steps that organisations and individuals can take to contribute towards preserving island beauty and eco-health.

“Ogier has been a key partner in this movement, which aims to engage all who live and visit the islands with the overall global issues that the earth is facing today,” said CCMI’s Managing Director, Brenda Gadd. “The new Green Guide to the Cayman Islands, ‘Sustaining our Oceans and Islands,’ will illustrate some of the important choices we will need to make in order to reduce the pressures on the local marine environment.”

Green Guide #3 follows CCMI’s two earlier guides that set the stage for building interest in a local “green” movement. The first guide was designed to establish a fundamental understanding of what is threatened and how actions today can have important implications for the surrounding ocean.

The second Green Guide’s purpose was to illustrate that climate change is a natural and important earth process being altered by human activity. The implications for coral reefs on a global scale were outlined along with an international “call to action.”

Read more at CaymanNetNews.