Coldwell Banker Islands Blog

Jim Gillespie, President & CEO of Coldwell Banker Real Estate LLC, started in real estate in 1975, in Hinsdale, IL. He had been working as a youth program director for a La Grange, IL YMCA and a tennis partner there talked him into trying real estate. He told Gillespie he would work a lot of evenings and weekends, make more money in real estate, and be helping people with one of the most expensive transactions they will ever make: buying a house.

He remembers the sense of helping, of providing a service, from the first transaction where he listed a home he had sold previously. A couple bought the home in Hinsdale in 1975, then the husband got transferred in late 1976, and they had to sell. But they made money on the home. When the couple thanked him, it gave him a good feeling to know that he helped them out.

The CEO learned over the years to listen, and read through the lines. Here is an example. “I was just sitting in the office, and this couple called in on a house they had seen. I showed them about nine or 10 homes during the course of three appointments. As we looked at these homes, I tried to listen to everything they said to me and each other and observe them closely to see what they liked and disliked. They demanded a home with a two-car attached garage.

“Eventually, this one property came on the market. I went on a broker’s tour. As soon as I got inside the house, I knew the couple would love it. So I called them and met them at the house. They fell in love with the house as soon as they went inside. The funny thing was that when we were walking back to the car to sign the contract, we all noticed that the house had a carport. But by that time, they didn’t even care.

“Now, I had heard, around the office, this little saying: “Buyers are liars.” And by the end of this transaction, I understood what that meant. Buyers are not necessarily liars; they just don’t always know what they want. This transaction taught me that.”

Gillespie’s people skills earned him over $1M in his first 6 months in the business, Rookie of the Year, and a promotion after 6 months to Office Manager.

When asked by Realtor.org what he adapted from those first sales, he answered, “I learned that you need to listen to your customers and pay attention to how they react when you are showing different homes. Practitioners need to remember what the client likes and dislikes. This transaction also gave me confidence that I knew what I was doing and would be good in the real estate business.”

Our goal for 2010 here at Coldwell Banker is to provide outstanding customer service in every way to everyone who comes through our doors. Our wishes for a Happy New Year to all.

The Sands at Grace Bay, Providenciales, is offering 25% off rates on all room categories Jan. 2 - Feb. 12.

Rates start at $214/night (originally $285) for a courtyard studio, and include unlimited access to non-motorized water sports such as kayaks, windsurfing equipment, and snorkel gear. Guests can also use the resort’s bicycles, tennis courts, and Wi-Fi at no additional charge.

Also available are 1,2, and 3 bedroom suites with full kitchens. The Sands offers 3 swimming pools, spa, and beachfront restaurant.

The Northwest Point Resort on Providenciales is offering discounts on rooms and dive trips, plus free car rentals, on reservations made now through April 15, 2010.

Specials offered now will cut 40% off the room rates and 25% off dive trips, plus give guests a free car rental to explore the island on their own. Grace Bay Car Rentals will even meet arriving guests at the airport with their free rental car.

About the resort:

The resort is a convenient 15 minute drive from the Providenciales International Airport, and 20 minutes to most Grace Bay area shops and restaurants. We are also located only steps away from the start of the world’s third largest reef system, which produces some of the best snorkeling in the islands. The resort sits adjacent to the 4,168 acre protected Northwest Point Marine National Park and Nature Preserve with some of the best wall and reef diving in the world. Sail Provo offers two hour snorkeling excursions from our beach out to the reef in front of the resort. Northwest Point has more than 1,700 feet of beach frontage, and endless undisturbed white sand on either side of the resort to enjoy beach combing for hours.

Happy Holidays and Happy New Year from the Associates at Coldwell Banker. This card was from our Curacao affiliate, but expresses the thoughts of all of us.

Now is the time of year to schedule and take that Caribbean vacation you’ve dreamed about, and Turks and Caicos have many vacation rental properties to entice you. Here is just one of our luxurious beachfront homes - the Villa Alizee on Providenciales. 5 bedrooms, 5 full baths, cable, guest house, pool, central air and - did we mention - beachfront.

Villa Alizee is one of the most luxuriously appointed Villas for private rental in the Turks and Caicos Islands. Located in the exclusive community of Sunset Bay in Chalk Sound, Providenciales, you will delight in the privacy of this 1.9 acre estate, complete with 220′ of beach front right on the world renowned Taylor Bay. This beautiful white sand beach is accessed via a private pathway from the house. You can lounge on the beach or relax on the beach sun deck. The beachside shower is the perfect place to rinse off after a marvelous dip in TCI’s sparkling turquoise waters.

Alizee is comprised of the main house, which hosts 2 bedrooms with en-suite, including an outdoor shower off the master bedroom, kitchen, 2 living rooms, dining room and laundry room. In addition, there are 2 master bedroom pods with en-suite bath, on either side of the pool. There is also an optional 5th bedroom Guest house, all easily accommodating 10 adults. You will delight in the extraordinary indoor and outdoor living spaces Alizee offers.

Visit our Coldwell Banker Vacation Rental page for more photos and rates (which depend on season). Hope to see you on Turks and Caicos!

Villa del Mar, a luxury boutique hotel located in the heart of world-renowned Grace Bay in the Turks and Caicos Islands, has announced special rates for December and January, and a two-free-nights special for February through April 2010. For the entire month of December, all room rates are available at 25% off published rates and in January the savings get even better with 50% off all deluxe studio rooms. Starting in February through April, visitors who book a 7-night stay receive two nights free.

The December 25% off special applies to all room types – deluxe studio, luxury one- and two-bedrooms, and the top-floor 1,800-foot two-bedroom ocean view penthouses.

The January 50% discount begins January 2, 2010 and applies to Villa del Mar’s deluxe studio rooms only. These 680 square foot rooms feature outdoor terraces, pool views, a bedroom with king-size bed, plus a queen-size sofa in the living area and a small kitchenette.

Villa del Mar is celebrating it first year in operation in Providenciales, the tourism center of the Turks and Caicos. Located close to the award-winning Grace Bay Beach, the finely-appointed 42-room property features deluxe studios, one- and two-bedroom suites with den, and breathtaking penthouse suites, all of which have been meticulously designed for an ideal tropical getaway. Offering exceptional island views from each balcony, the Villa del Mar experience includes a spacious central courtyard, exercise pavilion, and large pool and sun deck, among other amenities. The resort is also close to most of the island’s top restaurants, shopping, casino, nightlife, and other attractions.

(resource: EarthTimes.org)

Marc Roth of Business Week recently wrote, “If You Don’t Buy a House Now, You’re Stupid or Broke. Interest rates are at historic lows but cyclical trends suggest they will soon rise. Home buyers may never see such a chance again.”

Now is when prices worldwide are at their lowest in years.

Now is when inventory is at the highest rate in years.

Now is when rates are historically low, the lowest recorded in nearly 40 years.

Many call this confluence of buying factors the change of a lifetime. It is, at least, the once-in-a-generation opportunity.

Roth explains that the most important driving force of this buyers jackpot is the low interest rate. He says, “The most important lesson is to understand the actual financial impact the rate has on the cost of purchasing and paying off a home. Every quarter-point change in interest rates is equivalent to approximately $6,000 for every $100,000 borrowed over the course of a 30-year fixed. While different in each region, for the sake of simplicity, let’s assume that the average person is putting $40,000 down and borrowing $200,000 to pay the price of a typical home nationwide. Thus, over the course of the life of the loan, each quarter-point move up in interest rates will cost that buyer $12,000.

“As the global economy stabilizes, it is reasonable for us to see 30-year fixed rates climb to 6% within the near future and probably to a range of 7% to 8% when the economy is humming again. If every quarter of a point is worth $12,000 per $200,000 borrowed, then each point is worth almost $50,000.

“Let’s put that into perspective. You have a good stable job. You would like to own a $240,000 home. However, even though home prices have steadied, you may be thinking you can get another $5,000 or $10,000 discount if you wait. Or you may be waiting for the news to tell you the economy is “more stable” and it’s safe to get back in the pool. In exchange for what you may think is prudence, you will risk paying $50,000 more per point in interest rate changes between now and the time you decide you are ready to buy.

“If you are someone who is looking to buy or upgrade in the $350,000-to-$800,000 home price range, and many people out there are, then you’re borrowing $300,000 to $600,000. At 7%, the $300,000 loan will cost just under $150,000 more over the lifetime, and the $600,000 loan an additional $300,000, if rates move up just 2% before you pull the trigger.

“What I’m trying to impress upon everyone is that if you are planning on being a homeowner now and/or in the foreseeable future, or if you are looking to move your family into a bigger home, then pay more attention to the interest rates than the price of the home. If you have a steady job, good credit, and the down payment, then you really are being offered the gift of a lifetime.”

Stop in our Coldwell Banker office and let’s talk about your options, and your buying opportunity of a generation.

SCOTIABANK has received a prestigious international banking award for the third year running for its strong management and prudent approach to risk.

The region’s leading bank won the title of ‘Bank of the Year’ in The Turks and Caicos Islands from The Banker, a leading international finance and investment magazine.

The magazine’s Bank of the Year award is now in its 10th year and according to the magazine, it is given to the best commercial bank in over 130 countries based on financial results, technological advancements and future strategic marketing plans. This year The Banker received a record number of entries for the awards – more than 500 questionnaires were submitted.

In light of the financial markets, the award acknowledges the institutions that have managed the challenges of the financial crisis with skill, courage and expertise.

The 2009 awards will be formally announced in the December issue of the magazine. The Banker is the world’s longest running international banking magazine, recognised as a leading source of information on finance and investment across the globe.

(resource: TCWeeklyNews)

Grand Turk has a sister port now, as Roatan’s Mahogany Bay, Honduras, opened its cruise terminal this last week. The brand-new facility joins Costa Maya and Grand Turk as the third something-out-of-nothing port designed specifically to appeal to cruise passengers.

Mahogany Bay is not the first terminal built exclusively for cruise ships and cruise travelers. The trend began in early 2001, when Costa Maya opened its doors to visitors. Previously, the location had been an undeveloped area whose only settlement was the nearby village of Majahual (population: 200). The original infrastructure built for cruise passengers included pools, bars, restaurants and shops. Since that time, cottages for workers — who come from elsewhere in Mexico — and shore excursion areas have been added.

Following in 2006 was Grand Turk — another Carnival Corporation-sponsored initiative that carried a whopping $60 million price tag. Although it’s still largely considered an off-the-beaten-path destination, the island (one of just eight inhabited islands in the 40-island Turks and Caicos chain) now boasts retail shops and recreation areas that offer everything from horseback riding to fly fishing.

Mahogany Bay has come on the scene as the third of these manufactured playgrounds for cruise travelers. Just how popular Roatan’s new port will become remains to be seen, but as cruise lines seek to expand their offerings, especially in the heavily traveled Caribbean, the trend of creating new cruise ports out of undeveloped areas remains a fashionable one.

(resource: CruiseCritic.co.uk)

Coldwell Banker Real Estate LLC has unveiled the wholly redesigned Coldwell Banker website available now at beta.coldwellbanker.com. A key objective of the site launch is to help redefine real estate search which, to date, has focused primarily on such functional aspects of home-buying as number of bedrooms or listing price. The beta launch of the new Coldwell Banker website offers consumers a unique portfolio of new search options that incorporate elements of such online innovators as music recommendation engines and major e-commerce sites.

“Recognizing both the value of consumers’ time as well as the excess of often unhelpful information about real estate found online, our goal at Coldwell Banker is to provide potential homebuyers and sellers with the most comprehensive, informative and user-friendly experience possible,” said Jim Gillespie, president and chief executive officer, Coldwell Banker Real Estate LLC. “The new Coldwell Banker website not only provides consumers with up-to-date property listings, home-related tips and industry news, but it allows consumers to search for homes using a variety of methods.”

Features of the new site include: tground-breaking BlueScapesm search platform, a fresh approach to real estate search that allows consumers to discover the aspects of their “dream home” based on their attraction to a series of images and settings; a “You May Also Like” feature that offers additional homes of interest, based on a range of characteristics from properties consumers select as “preferred”; technology that immediately identifies a consumer’s current location via their computer’s unique IP address, and offers properties for sale in that area; keyword searching that enables users to find properties featuring specific details of their choice and integration and expansion of virtual tours and video display of select listings where available.

“Despite its focus on hard numbers like square footage and price, real estate is also a deeply emotional process,” explained Michael Fischer, senior vice president of marketing, Coldwell Banker Real Estate LLC. “Home buying is often driven by a gut feeling like the first time you lay eyes on a home or that vision you have in your mind’s eye of the perfect mountain view. We’ve widened the definition of real estate search to give consumers the chance to explore those intangibles.”

(resource: press release, RisMedia.com)