Coldwell Banker Islands Blog

Was the stock market drop good for real estate? Many investors that had a large portion of their retirement savings in the stock market have cashed in those stocks over the last 2 years - the million dollar question is what do they do with that money?

Diversification is the number one rule in investing, every boom in the last 100 years has started with real estate. With real estate prices for homes and land, in most areas, less than they were in the last several years many savvy investors are now beginning to revisit this “new” real estate market to see what it has to offer in the form of long term investing.

With reasonable downpayments, the added attraction of no annual property taxes and local banks that are lending, the Turks & Caicos Islands have properties available for those looking to diversify their assets in a tax neutral jurisdiction. Homes and villas that can be enjoyed for family vacations, short or long term rental homes, canal and beachfront land, and condo-hotel suites that participate in the rental programs are just some of the investments to consider.

Contact your local TCREA Real Estate Agent for information on investing in real estate in the Turks & Caicos Islands. As members of the Turks & Caicos Real Estate Association these agents have access to a wealth of information and statistics on the properties for sale in the islands.

www.coldwellbankertci.com

Coldwell Banker - we never stop moving……

Jim Gillespie, president and CEO of Coldwell Banker Real Estate LLC, participated in CNBC’s "Roadmap to Rebound" segment which focused on the state of the housing market, and what real estate professionals believe should happen to get the market moving again.

To watch, click on this link to CNBC.

Gillespie stated that "the government could do a lot more than they are already doing in order to get the real estate market moving again." He believes that two key changes are needed in order to get the economy moving:
1) to set a fixed-rate mortgage. Gillespie feels that "Lowering the interest rate to 4% to 4.5% for 12 months is one way to get the inventory moving."
2) increasing the tax credit to $15,000. He feels ncluding all buyers of primary residences will help move buyers along and get the market to shift.

Gillespie also stated that the demand side needs to be addressed. Once we start to sell the inventory currently available, prices will stabilize and then go up again, which will also help those in distressed situations. "Fifty-five percent of loan modifications have failed after six months because jobs are not being created and homeowners are losing the jobs they have," says Gillespie. "In order to create jobs, we need to create demand, both of which will get the housing market and economy moving."

Contact your Coldwell Banker real estate specialist to discuss your options as buyer or seller.

(Source: RIS Media)

Jim Gillespie, president and CEO of Coldwell Banker Real Estate LLC, participated in CNBC’s “Roadmap to Rebound” segment which focused on the state of the housing market, and what real estate professionals believe should happen to get the market moving again.

To watch, click on this link to CNBC.

Gillespie stated that “the government could do a lot more than they are already doing in order to get the real estate market moving again.” He believes that two key changes are needed in order to get the economy moving:
1) to set a fixed-rate mortgage. Gillespie feels that “Lowering the interest rate to 4% to 4.5% for 12 months is one way to get the inventory moving.”
2) increasing the tax credit to $15,000. He feels ncluding all buyers of primary residences will help move buyers along and get the market to shift.

Gillespie also stated that the demand side needs to be addressed. Once we start to sell the inventory currently available, prices will stabilize and then go up again, which will also help those in distressed situations. “Fifty-five percent of loan modifications have failed after six months because jobs are not being created and homeowners are losing the jobs they have,” says Gillespie. “In order to create jobs, we need to create demand, both of which will get the housing market and economy moving.”

Contact your Coldwell Banker real estate specialist to discuss your options as buyer or seller.

(Source: RIS Media)

Jim Gillespie, president and CEO of Coldwell Banker Real Estate LLC, participated in CNBC’s “Roadmap to Rebound” segment which focused on the state of the housing market, and what real estate professionals believe should happen to get the market moving again.

To watch, click on this link to CNBC.

Gillespie stated that “the government could do a lot more than they are already doing in order to get the real estate market moving again.” He believes that two key changes are needed in order to get the economy moving:
1) to set a fixed-rate mortgage. Gillespie feels that “Lowering the interest rate to 4% to 4.5% for 12 months is one way to get the inventory moving.”
2) increasing the tax credit to $15,000. He feels ncluding all buyers of primary residences will help move buyers along and get the market to shift.

Gillespie also stated that the demand side needs to be addressed. Once we start to sell the inventory currently available, prices will stabilize and then go up again, which will also help those in distressed situations. “Fifty-five percent of loan modifications have failed after six months because jobs are not being created and homeowners are losing the jobs they have,” says Gillespie. “In order to create jobs, we need to create demand, both of which will get the housing market and economy moving.”

Contact your Coldwell Banker real estate specialist to discuss your options as buyer or seller.

(Source: RIS Media)

Jim Gillespie, president and CEO of Coldwell Banker Real Estate LLC, participated in CNBC’s “Roadmap to Rebound” segment which focused on the state of the housing market, and what real estate professionals believe should happen to get the market moving again.

To watch, click on this link to CNBC.

Gillespie stated that “the government could do a lot more than they are already doing in order to get the real estate market moving again.” He believes that two key changes are needed in order to get the economy moving:
1) to set a fixed-rate mortgage. Gillespie feels that “Lowering the interest rate to 4% to 4.5% for 12 months is one way to get the inventory moving.”
2) increasing the tax credit to $15,000. He feels ncluding all buyers of primary residences will help move buyers along and get the market to shift.

Gillespie also stated that the demand side needs to be addressed. Once we start to sell the inventory currently available, prices will stabilize and then go up again, which will also help those in distressed situations. “Fifty-five percent of loan modifications have failed after six months because jobs are not being created and homeowners are losing the jobs they have,” says Gillespie. “In order to create jobs, we need to create demand, both of which will get the housing market and economy moving.”

Contact your Coldwell Banker real estate specialist to discuss your options as buyer or seller.

(Source: RIS Media)

Jim Gillespie, president and CEO of Coldwell Banker Real Estate LLC, participated in CNBC’s “Roadmap to Rebound” segment which focused on the state of the housing market, and what real estate professionals believe should happen to get the market moving again.

To watch, click on this link to CNBC.

Gillespie stated that “the government could do a lot more than they are already doing in order to get the real estate market moving again.” He believes that two key changes are needed in order to get the economy moving:
1) to set a fixed-rate mortgage. Gillespie feels that “Lowering the interest rate to 4% to 4.5% for 12 months is one way to get the inventory moving.”
2) increasing the tax credit to $15,000. He feels ncluding all buyers of primary residences will help move buyers along and get the market to shift.

Gillespie also stated that the demand side needs to be addressed. Once we start to sell the inventory currently available, prices will stabilize and then go up again, which will also help those in distressed situations. “Fifty-five percent of loan modifications have failed after six months because jobs are not being created and homeowners are losing the jobs they have,” says Gillespie. “In order to create jobs, we need to create demand, both of which will get the housing market and economy moving.”

Contact your Coldwell Banker real estate specialist to discuss your options as buyer or seller.

(Source: RIS Media)

Jim Gillespie, president and CEO of Coldwell Banker Real Estate LLC, participated in CNBC’s “Roadmap to Rebound” segment which focused on the state of the housing market, and what real estate professionals believe should happen to get the market moving again.

To watch, click on this link to CNBC.

Gillespie stated that “the government could do a lot more than they are already doing in order to get the real estate market moving again.” He believes that two key changes are needed in order to get the economy moving:
1) to set a fixed-rate mortgage. Gillespie feels that “Lowering the interest rate to 4% to 4.5% for 12 months is one way to get the inventory moving.”
2) increasing the tax credit to $15,000. He feels ncluding all buyers of primary residences will help move buyers along and get the market to shift.

Gillespie also stated that the demand side needs to be addressed. Once we start to sell the inventory currently available, prices will stabilize and then go up again, which will also help those in distressed situations. “Fifty-five percent of loan modifications have failed after six months because jobs are not being created and homeowners are losing the jobs they have,” says Gillespie. “In order to create jobs, we need to create demand, both of which will get the housing market and economy moving.”

Contact your Coldwell Banker real estate specialist to discuss your options as buyer or seller.

(Source: RIS Media)

Jim Gillespie, president and CEO of Coldwell Banker Real Estate LLC, participated in CNBC’s “Roadmap to Rebound” segment which focused on the state of the housing market, and what real estate professionals believe should happen to get the market moving again.

To watch, click on this link to CNBC.

Gillespie stated that “the government could do a lot more than they are already doing in order to get the real estate market moving again.” He believes that two key changes are needed in order to get the economy moving:
1) to set a fixed-rate mortgage. Gillespie feels that “Lowering the interest rate to 4% to 4.5% for 12 months is one way to get the inventory moving.”
2) increasing the tax credit to $15,000. He feels ncluding all buyers of primary residences will help move buyers along and get the market to shift.

Gillespie also stated that the demand side needs to be addressed. Once we start to sell the inventory currently available, prices will stabilize and then go up again, which will also help those in distressed situations. “Fifty-five percent of loan modifications have failed after six months because jobs are not being created and homeowners are losing the jobs they have,” says Gillespie. “In order to create jobs, we need to create demand, both of which will get the housing market and economy moving.”

Contact your Coldwell Banker real estate specialist to discuss your options as buyer or seller.

(Source: RIS Media)

Prime Minister Hubert Ingraham says the Bahamas is ready to negotiate ‘appropriate arrangements’ to accommodate Organisation for Economic Cooperation and Development (OECD) standards.
In so doing, the Bahamas is bowing to global pressure to allow for further information exchange agreements and tax transparency to avoid penalties or isolation.
Ingraham told the Bahamas Parliament it’s appropriate, in light of the line being taken by other countries, to ‘reaffirm’ its commitment ahead of the April 2 Group of 20 Nations and the OECD in London.
He said the Bahamas would negotiate as a matter of priority.
Last year, Ingraham said the Bahamas government was not interested in negotiating further tax information exchange agreements.
However, with the OECD countries contemplating blacklisting countries that do not dance to their tune, Ingraham is hoping to circumvent a backlash.
According to Michael Paton, a former Bahamas Financial Services Board chairman, the Bahamas has to find a new model for its financial services industry.
He told The Nassau Tribune that Bahamas-based clients and institutions shouldn’t panic in the face of the new global regulatory landscape, as there would be a transition period before any new agreements take effect.
Paton urged the government not to rush into signing, and to explore how the Bahamas could maximise reciprocal benefits from bilateral arrangements, The Tribune reported.
This could be achieved through alternative agreements, such as investment and double tax agreements, Paton added.

Many brokers, owners, managers, and sales associates from around the Caribbean and Atlantic Island region recently spent two days at the Coldwell Banker International Business Conference (IBC), at the Henry B. Gonzales Convention Center in San Antonio, TX. The theme of the conference was "Bullish in any market" and focused on innovative strategies to retain and grow market share in a challenging real estate environment.

Coldwell Banker Island Affiliates Sales Associates win top sales awards for 2008: Top Agent Awards were given to realtors in Bermuda, St Kitts-Nevis, and the Bahamas.

Curacao was welcomed into the company as an affiliate. Formerly ChowMar, NV Real Estate, is located in Willemstad.

3 CBIA offices won Top Dollar Listings awards: Aruba, BVI, and St Maarten. "Each of these three Coldwell Banker locations are top offices on their respective islands. They were able to secure these magnificent listings because of the individual attention and superior marketing tools that these offices provide to their clients" said Coldwell Banker Island Affiliate Managing Director, Jim Reed.