Coldwell Banker Islands Blog

View home above Brewers Bay. See it here.
A delightful 2 bedroom family or second home high on Mounty Healthy, above Brewers Bay. This light and airy Villa is set on a 1 acre Lot which provides unsurpassed, stunning views of Brewers Bay beach, Jost Van Dyke and beyond. With easy access back in to Road Town (although exceptionally peaceful and private) and with a studio apartment underneath, it’s the ideal home for a couple living and working on Tortola with two kids and a Nanny. What used to be a third bedroom is now and office but could easily be converted back. Kitchen and bathrooms were recently renovated to the highest of standards. Add a pool (there’s lots of room) and you have the perfect vacation home. The gardens feature mature landscaping and there’s lots of space for a Guest Cottage if required. Priced to sell at $995,000.00.

Twin Palms, Green Turtle Cay, Abaco. See it here.
Each unit consists of three bedrooms, two and a half baths, a living room, dining room, kitchen and laundry room. Each of the four covered porches/balconies compliment each unit, with two island style ceiling fans to enjoy the wonderful sea breezes. Central air condition throughout, high ceilings, large ceramic tiles on the ground floor and carpet on stairs and bedrooms are the standard for each unit. Each interior floor area consists of 1,320 square feet with covered balconies and porches totaling 729 square feet; a total area of 2,049 square feet under the roof. Asking price $1,295,000.

At the start of every year we all make New Year’s Resolutions, some of which we keep and others which we don’t. The top New Years Resolutions according to a survey conducted in the US include: Spend More Time with Family & Friends, Exercise More, Tame the Bulge, Quit Smoking, Enjoy Life More, Quit Drinking, Get Out of Debt, Learn Something New, Help Others, Get Organized, Change your living conditions and buy or sell real estate.
We are already 3 weeks into 2009 and if one of your New Year’s resolutions includes selling your property in these tough economic times you probably want to know “How can I get potential buyers to notice my home with many similar homes on the market. That is of course a very good question for 2009. There are many factors to be aware of when you sell your home particularly with market conditions changing. You must decide on a price, which involves an analysis of properties that have recently sold and homes that are currently on the market. It is useful to get an objective opinion of value from your realtor. Remember that homes are only worth what buyers are willing to pay so we all have to face the reality that Real Estate Prices World Wide have softened and we are NOT an exception on Grand Bahama Island. If you want to sell than you have to price your home realisticly based on current market value. Most important is that if you receive an offer that looks close do not be stubborn because you might regret it if you let a willing and able buyer get away.
Another important factor is to prepare your home before you list it. Get your home into prime showing condition by investing in fresh paint and yard work. If you decide to repaint the interior, choose a neutral palette that will provide a generic background against which homebuyers can visualize their own furniture. Remove all clutter, excess furniture, dust and grime. Repair or replace whatever makes the home look shabby—cracked windows or walkways, sagging porch steps, chipped plaster, missing roof shingles or drawer pulls. Refinish your deck if the wood looks worn or faded. Ask for staging advice from your real estate agent. What most home shoppers want to see are well-groomed landscaping and an immaculate, clutter-free interior. These simple and relatively inexpensive improvements will go a long way in a potential buyer’s eyes.
Homes that are energy-efficient also have a market advantage – they promise attractive savings on monthly utility costs. Did you know that you can reduce energy expenses by painting exterior walls a light color, putting a reflective coating on your roof or planting shade trees in your yard. A single tree, strategically placed, can reduce your air-conditioning costs by up to $300 a year or more. A single mature tree will add about $5,000 per lot or 5 to 7 percent to the sale of the property. So landscaping as you see is a very important part of the package.
Placing your property on the market at the right price is perhaps the single most important requirement for making your home stand out among local listings. Potential buyers will ask the price of your home first and then decide whether it measures up to their requirements. Homes that are priced competitively appeal to qualified buyers and draw a larger response from web sites and word of mouth. Avoid overpricing your property because you are not doing yourself a favor. The goal is to sell not to list! A fair list price will encourage offers that are closer to the asking price vs no offers An attractive listing price will keep your home fresh on the market and safeguard against “seller’s stagnation”.
Be willing to discuss any and all offers with your agent, and be as flexible as possible relative to the terms of the sale. The New Year had begun and The Us has a new President so there is Hope in the World and Hopefully that will translate to New Real Estate activity ! Good Luck with all of your resolutions.

There is no doubt about it: there are a lot of homes on the market. Understanding that, how do you—as a seller—cause your home to stand out from your competition? Home staging, says Barb Schwartz, CEO of StagedHomes.com, is an oft overlooked function of real estate selling.

Home buyers need to mentally “move in” to a home to see themselves living there. If you cannot accomplish that then you’ve lost them. Schwartz offers six simple tips to help sellers in a downtrodden market improve their position. Here are the final three:

4.) Work in ones or threes. Arrange items on hard surfaces—such as coffee tables—in ones and threes. If you have a large surface use 3 items, for smaller surfaces use one. If you put 10 things out you’ve overdone it and created clutter. For three items, they should be closely grouped in a triangle.

5.) Decide from the doorway. A buyer will get their first impression of a room from the doorway, so when evaluating your staging efforts you should do the same thing. Stage the room, go back to the doorway, re-stage, go back to the doorway and keep doing that until you have it right.

6.) Make your place “Q” tip clean. The home should be immaculate. If you were selling your car, the first thing you would do would be to have it completely cleaned up, inside and out. A home is no different and it goes beyond simply making a presentation. Buyers will wonder what other, less visible problems might come with an unkempt property.

For the whole article go to: http://realesatemsn.com/Selling/Article_usnews.aspx?ep-documentid=10963752

Today marked a new beginning for millions around the world, including the citizens of Grand Bahama. Even though President Obama is not of our government, his spirit and message will be felt here and as far away as Africa and Iceland. In his inauguration speech, he pledged that “On this day, we gather because we have chosen hope over fear, unity of purpose over conflict and discord. On this day, we come to proclaim an end to the petty grievances and false promises, the recriminations and worn out dogmas, that for far too long have strangled our politics.”

People around the world relate to Obama’s themes. A world made weary by war, recession, joblessness, and fear celebrated with him. At the United Nations complex overlooking the Danube River in Vienna, Austria, someone wrote “YES, WE CAN!” in giant block letters in the snow.

An Irish village called Moneygall covered itself in red, white and blue bunting Tuesday in honor of Obama’s ancestry, a great-great-great grandfather named Fulmouth Kearney who emigrated to the United States in 1850.

In Kenya, birthplace of Pres. Obama’s father, feasts were prepared, beer with Obama’s name on it brewed, and movie screens erected so neighbors could join together for the moment.

“Obama fever is all over the whole world, ” said Cyndee Peters, an Afridan-American singer who grew up in North Carolina and New York, and now lives in Sweden. “I was congratulated by I don’t know how many Swedes after the election. I think what he stands for needs to be celebrated. “No one is doing their favorite songs or greatest hits. We’re doing songs about hope.”

He has been praised for a trait unusual in politicians - an unwavering message: a heartfelt call to service, to help each other. He said today, “At this moment — a moment that will define a generation — it is precisely this spirit (of service) that must inhabit us all.” So we wish him well, and hope the countries of the world will work together to realize his visions of honesty, tolerance, and the brotherhood of all peoples.

This great second floor, two storey townhouse in Cannes Village is your ideal beach get-away. See it here.This beach front condo was recently renovated and will be sold unfurnished. The kitchen looks into the dining area and living room. Step onto the terrace from the living room and enjoy the spectacular view. You have enough space to have a couple of chairs and a small table as well as your BBQ. The bedrooms are upstairs with 2 bathrooms. The half bath is down and the stackable washer-dryer is in the kitchen. Listed at $275,000.

There is no doubt about it: there are a lot of homes on the market. Understanding that, how do you—as a seller—cause your home to stand out from your competition? Home staging, says Barb Schwartz, CEO of StagedHomes.com, is an oft overlooked function of real estate selling.

Home buyers need to mentally “move in” to a home to see themselves living there. If you cannot accomplish that then you’ve lost them. Schwartz offers six simple tips to help sellers in a downtrodden market improve their position:

1.) Get them inside. Staging is not only inside. Curb appeal is not to be overlooked because if they don’t like what they see from the sidewalk chances are that their hearts and minds won’t be swayed by what they see inside. Cut and trim the landscaping, rake the leaves, power wash the drive and walkways. Go easy on potted plants and remove all dead plants. Put the Big Wheels back in the garage and put trash containers back immediately on trash day when emptied.
2.) Pretend you’re camping. When you go camping you only take essentials, right? So go through each room and divide everything into a “keep” or “give up”. Those items that you keep will be used for staging, and those items that you give up should be stored elsewhere. Cluttered rooms appear smaller to buyers who have a hard time mentally removing all of your “stuff”.
3.) Balance hard and soft surfaces. If you have hard surface floors, whether wood or tile, make sure you have plenty of rugs to balance. Look at your furniture: if you have cushy, 7-foot long sectional sofas and then 2 or 3 La-Z Boy chairs you have too many soft surfaces. Consider getting rid of the La-Z Boy chairs and replace them with wingback chairs.

Freeport/Lucaya, Grand Bahama Island, Underwater Explorers Society (UNEXSO), The Portage Quarry of Bowling Green, Ohio and The S. C. Public Safety Divers International will host the first offshore event for the Legends of Diving. Held annually in Bowling Green since 2006, Jeff Rice, Managing Director of the Portage Quarry, has attracted notable American diving legends such as Zale Parry, Dr. Sam Miller, and Sam LeCocq.

The International Underwater Explorers Society has formed an alliance with the Portage Quarry to build on the success of the Ohio event. The first INTERNATIONAL LEGENDS OF DIVING (ILD) will be held at UNEXSO on Grand Bahama Island April 2-6, 2009.

Keith Cooper, Director of Sales & Marketing of the Pelican Bay Hotel, invited Rice down to tour the dive facilities and the hotel, which will be the official hotel for ILD.

On hand will be Nick Rolle, Joel Pratt, Presley Knowles and Ollie Ferguson, local Bahamians who assisted in the development of the cavern and shark training programs. Bryan Pennington, owner of Vintage Double Hose, has been invited to join the event for a week of diving with the International Legends. They will share their stories about the history of diving on Grand Bahama Island.

This is the first event of its kind held at the resort, and the divers will be hand-picked by Bryan to represent the very best in historically accurate vintage equipment configurations and diving techniques. Not only will this group enjoy the finest diving available around the island, but they will also have an opportunity to serve as ambassadors for the vintage equipment diving community.

UNEXSO, a premier dive destination, was founded in 1965 as the first dedicated scuba training facility in the world. UNEXSO’s management team has worked for a number of world-class resort and dive operations in the Bahamas, Caribbean, Hawaii, Europe, Middle East, Australia, Asia, and throughout the continental United States. UNEXSO is one of the most respected and ecology friendly dive operators in the Caribbean.

A Parable for our times:

A man sat at a metro station in Washington DC and started to play the violin; it was a cold January morning. He played six Bach pieces for about 45 minutes. During that time, since it was rush hour, it was calculated that thousand of people went through the station, most of them on their way to work.

Three minutes went by and a middle aged man noticed there was musician playing. He slowed his pace and stopped for a few seconds and then hurried up to meet his schedule.

A minute later, the violinist received his first dollar tip: a woman threw the money in the till and without stopping continued to walk.

A few minutes later, someone leaned against the wall to listen to him, but the man looked at his watch and started to walk again. Clearly he was late for work.

The one who paid the most attention was a 3 year old boy. His mother tagged him along, hurried but the kid stopped to look at the violinist. Finally the mother pushed hard and the child continued to walk turning his head all the time. This action was repeated by several other children. All the parents, without exception, forced them to move on.

In the 45 minutes the musician played, only 6 people stopped and stayed for a while. About 20 gave him money but continued to walk their normal pace. He collected $32. When he finished playing and silence took over, no one noticed it. No one applauded, nor was there any recognition.

No one knew this but the violinist was Joshua Bell, one of the best musicians in the world. He played one of the most intricate pieces ever written with a violin worth 3.5 million dollars.

Two days before his playing in the subway, Joshua Bell sold out at a theater in Boston and the seats averaged $100.

Although circulated through email, this may be a real story. Joshua Bell playing incognito in the metro station was organized by the Washington Post as part of an social experiment about perception, taste and priorities of people. The outlines were: in a commonplace environment at an inappropriate hour: Do we perceive beauty? Do we stop to appreciate it? Do we recognize the talent in an unexpected context?

If we do not have a moment to stop and listen to one of the best musicians in the world playing the best music ever written, how many other things are we missing?

Consider Grand Bahama. We’re waiting for you.

Last week we reported strategies to follow before shopping for your first house. Liz Pulliam Weston with MSN Real Estate suggests the following timeline as an ideal one for someone purchasing their first home and for the most part, we agree with her. This week we will continue our discussion about more immediate strategies.

3 months out

1. Reduce your credit utilization. If you live in a country that implements scoring formulas like FICO in the US, you available credit will be reflected in your credit score. Obviously, less is better. Even without a FICO credit score available, lenders will want to see copies of your statements. A good rule of thumb is to keep your credit card balance below 30% of the amount available.

2. Don’t open or close any new accounts. Avoid taking actions that harm your credit rating such as opening new accounts or closing old ones. Keep up your old, good habits until the mortgage is processed and you are living in your new home.

2 months out

1. Get an idea of the mortgage rate you can expect. This is easy enough done. Most banks post rates for mortgages in their lobby. Or go on-line to www.lendingtree.com. A bank may or may not be the best place to get a mortgage. They will offer the fewest options. A mortgage broker on the other hand will have a wide array of mortgage alternatives available (including your bank’s). Don’t make application yet, and don’t give anyone permission to pull your credit. You’re just shopping the market.

2. Understand the effect of mortgage shopping on your score. Again if you are in a country the uses credit scoring, any time you allow a lender permission to check your credit, a ‘hard inquiry’ dings your score. When you’re ready to be a serious home shopper, that’s the time to be certain about your mortgage.

3. Get your mortgage approved ahead of time. Getting pre-approved is different than pre-qualified. Pre approval requires a ‘hard inquiry’ and the lender issues a letter that states you are pre-approved to obtain a mortgage. In a sense, you now become a cash buyer and you will command a stronger bargaining position with the seller.

4. Consider a mortgage broker. Ask for referrals from friends and relatives. You can also get a referral from the National Association of Mortgage Brokers.

5. Begin researching neighborhoods and look for an agent. Check internet listings, attend open houses and view web sites. Most large real estate companies include useful neighborhood information on their sites. On www.coldwellbanker.com for example, you can search for neighborhoods based on population density, age, income, etc. You can search for school information the same way. A REALTOR™ will provide you with all of the information you need to proceed. Ask for a ‘Buyer’s Estimated Closing Costs’ sheet from the agent. It will be similar to a GFE obtained earlier but now more detailed and specific to the transaction awaiting you.

Once you’ve found a home and your offer is accepted.

1. Shop for a mortgage (again). Just because some lender wrote you a letter of pre approval, doesn’t mean you have to ultimately take out your mortgage with them. A lot may have changed since you were pre-approved so it is wise to check around once again.

2. Arrange for an inspection. You will want to make an inspection a condition of the offer for two reasons: One, to discover hidden defects that if disclosed, might have caused you to bypass this property. Two, you will want to become familiar with your new home by finding out where the fuse boxes are, shut off valves, etc. Unless there are major, unfixable defects, most sellers will agree to fix leaky pipes or faulty switches to complete the deal.

3. Confirm how much money you will need at closing. The lender or your agent will arrange for appraisals, title insurance and other inspections. There will be a charge for these, however but by now thanks to the GFE and your agent you should be getting pretty savvy about the process.

4. Get homeowner’s insurance. The lender will require it but you will want to have it regardless. Ask about umbrella policies and personal liability policies as well. And shop insurance companies—you’ll be glad you did.

Enjoy your new home!

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