Coldwell Banker Islands Blog

Spacious and bright ground floor corner unit overlooking the Caribbean. Deep white sand beach. 3 Bed/3Bath 2092 sq. ft. This unit is a terrific rental and is in pristine condition. Executive furniture package. Set in lush landscape with amenities such as gym, ocean front pool and jacuzzi, tennis, elevators and a one car garage. You can choose to sit on your screened in porch or an unscreened porch depending on your preference. Avalon has a strong holiday rental history on the best strip of sand beach in the Seven Mile Beach area. Close to shopping, restaurants and entertainment, this condo offers everything to the very discerning buyer. Read complete details at our Coldwell Banker listings page. Asking $1,940,000.

James Sarles, owner and broker of Coldwell Banker in Grand Bahama, wrote an article in the Freeport News today on real estate buying. We quote in part, and suggest you read the entire article at The Freeport News.

“As we all know, to a certain extent the Bahamas real estate market has always been affected by the U.S. market. U.S. President Obama is about to push through an economic stimulus plan worth close to a trillion dollars, which everyone hopes will put the U.S. back on track as the U.S. economy is entering its sharpest downturn since before World War II, according to many economists.

“This is very important to the Bahamian market because a strong U.S. economy is vital to our tourism economy and the health of our market in general, especially the real estate market. So it appears that hope is on the way, which means that if you have been thinking about buying real estate this is a GREAT time as the market is reaching the bottom because the next cycle will mean increased prices. Don’t be a “woulda coulda shoulda” investor and make your move now…” Read how to use the market in The Freeport News.

This villa is located in the popular neighborhood of Jones Estate, within close proximity to the best beaches and all the restaurants, Bathsheba is the perfect family home. With 5 ensuite bedrooms, an open kitchen leading onto a large living area and plenty of outdoor space, including a large swimming pool and screened veranda, this villa makes an ideal home for entertainment.
0.6 Acres of well-manicured gardens with underground sprinkling system surround the home. Read full details on our Coldwell Banker listing page. Asking $750,000.

Parasailing in the Turks & Caicos Islands….Fly like an Eagle, Over the Sea - Fly like an Eagle & Set Your Spirit Free….For the most mind-blowing, breathtaking view of Providenciales, the chain of uninhabited Cays, and the beautiful turquoise waters, call our family friendly and highly experienced team of professionals. Let us add a different dimension to your vacation and show you how safe, relaxing, and fun a Parasail ride can be!

What is Parasailing?
Parasailing is a fun and safe activity when conducted correctly and can result in mind-erasing states of Euphoria.

In the early years when Parasailing first started, there were some cavemen antics employed, like taking off while running down the beach, landing in the water, on a floating platform, the beach etc. During that trial and error stage, parasailing wasn’t really safe. Technically, each flight was an experiment, kind of like the invention of the United States Navy Dive tables. In other words, if too many people were injured, then slight adjustments would be made to reduce the number of injuries. The end result was a set of profiles which virtually eliminated the risk of injury to divers.

Fortunately for us all, parasailing has evolved into one of the safest watersports available in beach vacation destinations today.

Our Boat - Our boat is a 1997, 28′ Premium Parasail Winch Boat, designed and built exclusively for parasailing. Our boat has a built-in flight deck which allows the flyer to take off from and land right on the boat. No water landings and no getting wet unless you want to. We maintain our boat and its equipment meticulously to make sure that your excursions with us are safe, memorable, and fun.

The Flight - Once you board the boat, the crew gives a basic boat briefing, gets you into a safety jacket, secures your flight harness, and then gives you thorough instructions about your parasail ride, the emergency procedures, hand signals etc. Once you are briefed, the crew inflates the chute, you step up to the flight deck, the crew clip you into the harness and have you assume the sitting position in the harness (just like sitting in a swing). Once you are seated, the captain double checks that you are okay and ready. When you give your approval, the boat starts to accelerate. You feel yourself slowly start to rise and go backwards at the same time. Once you are all the way out on the 585 feet of tow line, you will feel a slight jerk as the rope stops. You then will rise a bit higher and reach your cruising altitude. The boat will gently tow you along at peak altitude and the only sound you will hear is the wind blowing gently through your hair. All is peace and quiet until there is another slight tug on the line as the captain starts pulling you back in. Once above the flight deck, you will again be reminded by the crew to stand up as you land. They will then release the clips from the parachute, guide you back to your seat and someone else will take your place in the parachute on their way to euphoria.

For more on Parasailing in the Turks & Caicos Islands please visit www.oceanvibes.com

This article was provided by Wayne Hall, Sales Associate at Coldwell Banker Real Estate Turks & Caicos and owner of Ocean Vibes.

Coldwell Banker - we never stop moving…..

EVEN with the global economy crashing in 2008, high end homeowners still had a dream house in mind, according to the 2008 Coldwell Banker Previews International Luxury Survey.
And 27 percent of those surveyed wanted an island. This is no surprise to us, as Bahamas real state has always appealed to second home owners. Our islands in the Bahamas, especially Nassau, Abaco, Eleuthera, Exuma and Harbour Island, have played pied piper to the rich and the famous over the years.
Overpriced real estate listings in the Bahamas have adjusted to more realistic levels, with the price of luxury homes dipping by perhaps ten percent.
According to the Coldwell Banker survey, the typical million-dollar homeowner sees long-term investment gains.
And while 44 percent of those surveyed plan to stay in their primary home for at least 10 years, they also dream of owning the perfect home.
The Bahamas has always appealed to North Americans because of its warm weather, proximity to the United States, and its strong tradition of parliamentary democracy and strong ties with the U.S., our closest neighbour. And we have some of the most beautiful beaches and crystal clear water anywhere in the world.

Increased Air Service from American Eagle

At a special meeting of the Airlift Task Force chaired by the Premier, the Hon. Ralph T. O’Neal, OBE, earlier this afternoon, Mr. Carlos Garcia, Station Manager of American Eagle in the BVI announced that American Eagle was going to virtually double the number of daily flights into Beef Island from San Juan starting on May 1, 2009 for the balance of 2009.
The Airlift Committee welcomed this great news which is a culmination of almost six months of lengthy negotiations with American Eagle spearheaded by the Premier after American Eagle significantly cut the number of flights to Beef Island in early September. The Premier was pleased with the end results of these negotiations which resulted in six daily flights seven days a week including an early flight from Beef Island at 7:20 a.m. and a late night flight from San Juan to Beef at 9:25 p.m.
The Premier said “even though we are facing the most difficult economic times in decades, American Eagle’s decision to run 42 flights a week each way between San Juan and Beef Island starting on May 1st is a reaffirmation of the BVI as a premier destination in the Caribbean.” Mr. Garcia shared that the BVI is getting more flights per week starting in May 2009 than almost any other American Eagle destination in the Caribbean and that the round trip fares between Tortola and San Juan will start as low as $162 on May 1, 2009.
The Airlift Committee was pleased that none of the American Eagle flights starting on May 1st will require the execution of any minimum revenue guarantee agreements and American Eagle has agreed to accept all the risk associated with these increased flights.
While the Premier was very appreciative of American Eagle’s renewed interest in the BVI, he wanted to acknowledge the very special role that Cape Air played from September in keeping the airlift between Beef Island and San Juan alive especially during the winter season. By running as many as twelve flights a day and with multiple aircraft per flight as needed, Cape Air provided the BVI with great service without which occupancy would have been much worse than it really was. The Premier hoped that Cape Air would continue to provide this airlift to the BVI and perhaps expand it to other destinations such as Antigua, St, Maarten and St. Kitts.

Mr. Ajit Mathew George, Managing Director of Nail Bay and a member of the Airlift Task Force stated that this additional airlift by American Eagle could not have come at a more opportune moment for the hospitality industry in the BVI. He said that “this increase in seats by American will give all the hotels, villas and the boating industry an opportunity to have a much better summer and fall season that will hopefully offset an average to less than average winter season.”
Hadassah Ward, Ag. Director, is pleased that the tireless negotiations are resulting in some visible fruit and that this will bring some ease not only to the hospitality sector, but to the travelling population of the BVI as a whole.
The members of the Airlift Task Force are Hon Ralph T. O’Neal, Premier & Chairman; Mr. Myron Walwyn, Chairman BVI Tourist Board; Ms Hadassah Ward, Ag Director of Tourism; Ms Lynnette Harrigan, BVI Tourist Board; Mr. Ajit Mathew George, Managing Director Nail Bay; Mr. Martein Van Wagenberg, Managing Director Little Dix Bay; Dr Birney Harrigan, Chairman BVICCHA; Mrs. Malcia Smith-Hamilton, BVI Tourist Board; Ms. Abigail O’Neal, BVI Tourist Board; Mr. Ordley Thomson, Station Manager Cape Air BVI; Ms Najan Christopher, Premier’s Office; Mr. Carlos Garcia, General Manager American Eagle BVI, Mr. Mark Jeffers, Shift Manager American Eagle BVI; Mr. Carvin Malone, Businessman. See http://www.bviccha.org/http://www.bviccha.org/

In regards to single family homes, exclusive ownership allows home owners to alter their home and surrounding property in nearly any way. While building codes may prevent certain home additions and other large-scale renovations, owners of single family homes can adapt their homes to meet their unique goals.

The owner of a condo is not always allowed to make such radical changes to their property. When purchasing a condo, owners are subject to the rules and regulations of the condo association or board. Typically composed of fellow residents, this governing body collects dues from condo owners to conduct ongoing maintenance of shared areas and perform any unexpected repairs. As part of the agreement with the condo board, new owners will be informed of what types of changes can be made to the interior and exterior of their property. In most cases, condo owners possess the same type of exclusive ownership inside their condos as homeowners, yet are limited in exterior alterations to maintain the uniformity of the community.

If you are thinking about purchasing a condo, it is important to read the Covenants, Conditions and Restrictions (CC&Rs) before making a commitment. These documents include all the rules condo owners must follow and can vary widely between complexes. If you have indoor pets or other specific needs, make sure these are addressed in the CC&Rs to prevent any unwanted surprises. If you don’t understand any part of the CC&Rs when purchasing a condo, you can try to gain clarification from the director of the condo association.

While the concept of shared ownership might seem limiting to potential owners, there are certainly plenty of benefits. For instance, the owner of a single family home is solely responsible for any problems with the properties, incurring all costs of needed repairs. However, the dues paid by condo owner cover many repair costs ^ both inside and outside the home. Furthermore, condo ownership can also provide access to amenities ^ such as pools, spas and recreation equipment ^ outside the budget of a home owner.

Regardless of location, either a single family home or a condo can be the right fit for the right family. To make the most informed decision, all prospective homebuyers should reflect on their own lifestyles and priorities and how they relate to the different types of property ownership. While there may be many differences between house and condo ownership, the goal is always the same ^ finding the best home for your family.

Condominium (Latin): joint ownership and control. The following (reprint) is the second in a series of 4 articles on Condominium Title, what it is and how it is structured, provided by Richard Savory, the principal of the law firm Savory & Co. located in the Turks & Caicos Islands.

Creation of Condominium Title
In Turks & Caicos, a condominium is established by the registration of a set of plans, called a strata plan, at the
Land Registry. In the legislation, the units shown in the strata plan are called strata lots and the rest of the
property within the strata plan is known as the common property. On registration, the developer is shown as the
owner of each unit.

Owners’ Corporation
On the registration of a strata plan, a corporation, known as the strata corporation, is automatically created. The
members of the corporation are the unit-owners. The strata corporation is registered as the owner of the common
property, and is responsible for its administration and maintenance. The strata corporation and each of the unit-owners are bound by a set of by-laws which are registered along with the strata plan, and which can be amended by
all, or a specified majority, of unit-owners. Responsibility for the management of the strata corporation is vested in an executive committee appointed in accordance with the by-laws. As members of the strata corporation, unit-owners can convene meetings of the strata corporation to consider matters of importance to the condominium.
Because the developer is the registered owner of the units while they are being sold, it will control the strata
corporation with votes until all or most of the units are sold. Quite often the developer will want to keep control of
the strata corporation, to the exclusion of the unit-owners, for some time after completion. The draft by-laws
provided at the time of sale need to be checked to determine the extent to which and the period for which the
developer will retain control of the strata corporation.

Share of Common Property and Contribution to Expenses
The extent of each unit-owner’s share in the common property, and the extent to which each unit-owner
contributes to the costs incurred by the strata corporation, is determined by the unit entitlement ascribed to each unit. The unit entitlement is, or represents, a percentage fixed by the developer, usually as a function of the floor area of each unit in relation to the total area of all the units. Purchasers should be sure to understand how unit entitlement is defined in relation to the particular development. What should happen after the registration of the strata plan, and annually thereafter, is that the strata corporation meets to determine the estimated costs of administration for the coming year, and to establish a reserve fund to build up over, say, five years to cover major future expenditures such as re-painting or a planned capital improvement. Having determined an overall total, the unit-owner’s monthly contribution should be the percentage of the total that is represented by his unit entitlement.

Particularly at the outset, when the developer is in control of the strata corporation, unit-owners should ensure that they understand how the total which determines their monthly contribution has been calculated.

In the third article featured on Sunday, March 1, 2009, Mr. Savory covers Condominium Management.

Richard Savory is the principal of the law firm Savory & Co., and has been in practice in Turks & Caicos since 1981. He has been closely involved in the drafting of amendments to the “Strata Titles Ordinance” and the regulation made under it. In 1984, he registered the first strata plan in Turks & Caicos. He has also acted as chairman and secretary in various strata corporations and has been legal adviser to developers of strata title developments, to many purchasers of condominium title units, and to the governing bodies responsible for the management of condominiums.

www.savory-co.com

This article on Condominium Title in Turks & Caicos is a reprint and provided to you by Coldwell Banker Real Estate Turks & Caicos, www.coldwellbankertci.com.

Coldwell Banker - we never stop moving……

In regards to single family homes, exclusive ownership allows home owners to alter their home and surrounding property in nearly any way. While building codes may prevent certain home additions and other large-scale renovations, owners of single family homes can adapt their homes to meet their unique goals.

The owner of a condo is not always allowed to make such radical changes to their property. When purchasing a condo, owners are subject to the rules and regulations of the condo association or board. Typically composed of fellow residents, this governing body collects dues from condo owners to conduct ongoing maintenance of shared areas and perform any unexpected repairs. As part of the agreement with the condo board, new owners will be informed of what types of changes can be made to the interior and exterior of their property. In most cases, condo owners possess the same type of exclusive ownership inside their condos as homeowners, yet are limited in exterior alterations to maintain the uniformity of the community.

If you are thinking about purchasing a condo, it is important to read the Covenants, Conditions and Restrictions (CC&Rs) before making a commitment. These documents include all the rules condo owners must follow and can vary widely between complexes. If you have indoor pets or other specific needs, make sure these are addressed in the CC&Rs to prevent any unwanted surprises. If you don’t understand any part of the CC&Rs when purchasing a condo, you can try to gain clarification from the director of the condo association.

While the concept of shared ownership might seem limiting to potential owners, there are certainly plenty of benefits. For instance, the owner of a single family home is solely responsible for any problems with the properties, incurring all costs of needed repairs. However, the dues paid by condo owner cover many repair costs – both inside and outside the home. Furthermore, condo ownership can also provide access to amenities – such as pools, spas and recreation equipment – outside the budget of a home owner.

Regardless of location, either a single family home or a condo can be the right fit for the right family. To make the most informed decision, all prospective homebuyers should reflect on their own lifestyles and priorities and how they relate to the different types of property ownership. While there may be many differences between house and condo ownership, the goal is always the same – finding the best home for your family.

Coldwell Banker - we never stop moving…..

In regards to single family homes, exclusive ownership allows home owners to alter their home and surrounding property in nearly any way. While building codes may prevent certain home additions and other large-scale renovations, owners of single family homes can adapt their homes to meet their unique goals.

The owner of a condo is not always allowed to make such radical changes to their property. When purchasing a condo, owners are subject to the rules and regulations of the condo association or board. Typically composed of fellow residents, this governing body collects dues from condo owners to conduct ongoing maintenance of shared areas and perform any unexpected repairs. As part of the agreement with the condo board, new owners will be informed of what types of changes can be made to the interior and exterior of their property. In most cases, condo owners possess the same type of exclusive ownership inside their condos as homeowners, yet are limited in exterior alterations to maintain the uniformity of the community.

If you are thinking about purchasing a condo, it is important to read the Covenants, Conditions and Restrictions (CC&Rs) before making a commitment. These documents include all the rules condo owners must follow and can vary widely between complexes. If you have indoor pets or other specific needs, make sure these are addressed in the CC&Rs to prevent any unwanted surprises. If you don’t understand any part of the CC&Rs when purchasing a condo, you can try to gain clarification from the director of the condo association.

While the concept of shared ownership might seem limiting to potential owners, there are certainly plenty of benefits. For instance, the owner of a single family home is solely responsible for any problems with the properties, incurring all costs of needed repairs. However, the dues paid by condo owner cover many repair costs – both inside and outside the home. Furthermore, condo ownership can also provide access to amenities – such as pools, spas and recreation equipment – outside the budget of a home owner.

Regardless of location, either a single family home or a condo can be the right fit for the right family. To make the most informed decision, all prospective homebuyers should reflect on their own lifestyles and priorities and how they relate to the different types of property ownership. While there may be many differences between house and condo ownership, the goal is always the same – finding the best home for your family.