Coldwell Banker Islands Blog

British Airways’ commitment to the Caribbean continues to be strong, with increased services to both Grenada and St Kitts from the start of the summer schedule at the end of March,2010.

Flights from London Gatwick to St Kitts will increase on March 27,2010 to two/week due to ever increasing demand on the route since its launch in 2008. Flights will depart Saturdays and Tuesdays and operate via Antigua.

Holidays in St Kitts and Nevis have long been a secret favourite with the British public, with many Brits owning second homes on the islands.

Both the Grenada and St Kitts services will be operated by Boeing 777 aircraft with a three-class configuration: World Traveller, World Traveller Plus and Club World.

(resource: Easier.com)

The Hon. Dr. Denzil L. Douglas has released his annual Address to the Nation dated Dec. 7. He explains, “I speak to you at this time to announce a number of important policy initiatives which, in my view, have become quite urgent and which must be implemented immediately.”

He also provides a summation of governmental efforts during the year and during his tenure - in housing, infrastructure, education, economics, and more.

Read the address in full at CUOPM.com.

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)

Nisbet Plantation Beach Club on Nevis is a small, independent luxury resort with 36 cottage-style guest accommodations set on 30 lush acres. For more than 10 years, Nisbet Plantation has partnered with Madigan Pratt & Associates to deploy a Customer Relationship Marketing (CRM) program that builds loyal and profitable customers. This program proved itself by helping Nisbet recover more quickly than other Caribbean resorts after 9/11 without deeply discounting rates.

As reported by HotelInteractive, “The resort has stayed true to its luxury brand, which was built around personal service, and its long-term customer relationship marketing (CRM) program.

“With a strategy focused on the four P’s of marketing (product, price, place and promotion) and the customer experience, this small, independent hotel is successfully overcoming today’s difficult times. With a limited budget and a lot of ingenuity, Nisbet has fared far better than the region for occupancy and maintained average daily room rates for higher revenue. To protect its business, Nisbet addressed each of the four P’s of the marketing mix and how it related to the total customer experience, before, during and after stay.

“Product
Nisbet’s management team took steps to minimize the market’s impact by enhancing the customer experience and maintaining fiscal responsibility.

“Price
Many luxury resorts in the Caribbean and around the world have slashed rates in an effort to increase occupancy. Research has shown that this tactic not only hurts revenues, but in the long-term, damages brand integrity and hinders the hotel’s ability to recover post-recession. To compete against such “deals” as $99 a night at a 5-star hotel and 65% off at an all-inclusive resort, Nisbet did reduce rates but only slightly.

“Place
Nisbet looked at all distribution channels to increase occupancy.

“Promotion
For nearly a decade, Nisbet Plantation has embraced the principles of CRM. This approach seeks to manage the relationship throughout the customer lifecycle, from awareness to loyalty. At the core is a comprehensive database, which includes key customer, prospect and travel agent information. This enables Nisbet to follow direct marketing best practices and send highly targeted personalized and relevant communications to guests and prospects.

“Public Relations
To increase visibility, Nisbet has a proactive public relations strategy. News and special offers are promoted to travel media through press releases, media pitches and relationships with key outlets. Nisbet also actively pursues media opportunities and press visits. Between 2008 and 2009, Nisbet Plantation’s press coverage increased by 85%.

“Results
Throughout these difficult times, Nisbet Plantation has achieved strong occupancy and maintained ADR (average daily rate) rates that outperform the Caribbean.”

The conclusion of this case study by Madigan Pratt speaks very highly of the business model employed by the Nisbet Plantation,

“Nisbet Plantation has maintained its brand integrity and service promise, delivering an excellent guest experience before, during and after a stay. It has shied away from rate reductions, embraced its CRM program and thus fared significantly better than most Caribbean hotels. By focusing on the basics with innovative approaches, it is performing strongly and well-positioned to prosper as the economy recovers.”

Read the full case study at www.madiganpratt.com/casestudydownload.

In this economy, you need to weigh carefully the benefits of home improvements versus the price you can expect if you sell.

First, estimate your costs to buy a new home. These might include new loan fees, packing, moving and improvements you want to make right away.

Second, estimate your costs to sell your present home. Add up the realtor commission, closing costs, repairs, replacing appliances and/or improvements like carpets.

Third, if you like your neighbors and your location, consider doing some remodeling. You can get exactly the home you want and not risk buyer’s remorse. Estimate the cost of making the most crucial renovations needed for you to stay. Decide what you would like to do and price materials and labor. Call contractors and get estimates. This is especially important if you need to add on extra square footage.

Fourth, make your best effort to include everything it will cost in time and money to sell your home and buy a new place. Then, estimate what you may get for your house and how much cash you will realize that you can put down on a new home. This step is when you need the advice of your Coldwell Banker professional realtor.

Look at what it would cost to move, then what it would cost to remodel. Try to factor in the unknowns of friends, schools, neighbors, and economic conditions. Either way, it’s not an easy decision. Our Coldwell Banker agents can help you understand the market forces which would affect your sale.

Deputy Prime Minister with responsibility for education, Sam Condor said his ministry’s White Paper, designed for a revised approach at secondary school level, is part of the St. Kitts/Nevis Labour Party government’s vision to have at least one university graduate in every household by the year 2020.

Condor said the technological infrastructure and curriculum standard at the new Saddlers Secondary School highlights the government’s plans to ensure the nation’s youth attain a solid academic future.

Reportedly, all classes have internet and cable connectivity and mobile computer carts access to every classroom. These features would be implemented at other high schools throughout the island, he said.

As reported by SKN Vibes, Condor explained that apparently now 5 to 7 per cent of students go to university and attain a university degree. The ministry’s goal is that by 2020, the gross enrolment rate for students going to college should be at least 50%.

“We want about fifty per cent of our students in secondary and post secondary for any particular group leaving for university enrollment for the same (group) being at least 20 per cent so . So we want to increase by 2020 our university students for any university enrolled group to be about 20 per cent.”

Condor is cognizant that such objective would be a “tall order”, adding that the St.Kitts/Nevis government is hoping that all provisions made to increased access to second university education, will make increase university enrollment more possible.

Whether you just bought a house or you have lived there for a while, the fastest way to increase your home’s value is by making a plan. Never start working on a project without having your resources and your broad picture in mind. Do your homework first and you will fare better if upgrades are made intentionally and not on impulse. Home improvement projects cost about 20 to 25 cents on the dollar. The other 75 to 80 cents spent go directly back into the home through increased value. So many homeowners are remodeling homes in this current market because they can’t sell for the price they want or need.

List the things you want to change and the updates you would like to make. Don’t worry about organization, just write it all down. Take a guess on how long you may want to live in the house. This will affect how much you want to invest in updating or remodeling the property.

Take the list and categorize the projects by how much they may cost, including your time and money. It’s OK to list an outdoor tennis court, but keep your financial picture in mind. Collect pictures of home projects you like and do some research on-line. Once you have a categorized list, prioritize what is “must have” and what is a dream. See if you can find a reasonable balance. Then prioritize the must-haves.

Doing small home improvements can really pay off. Are you torn between improving your home’s decor, versus making upgrades you know will increase your home’s resale value? Many homeowners are surprised to hear that doing a little bit of both will actually pay off.

Start by making two lists - upgrades for your home value and upgrades just for you. Upgrades for your home may consist of replacing old faucets, permanent lighting and doors. Upgrades for you are furniture, artwork and window treatments. Gone is the dartboard approach to picking projects and wondering if what you are doing is really making a difference. With this plan, you will see real progress.

Once you have a plan, talk to your Coldwell banker realtor to see what sort of return those improvements may bring. Some will add considerably more value to your home than others. This is an important step, because a professional realtor will know what is of value in your community.

Almost any realtor will say that the #1 upgrade with the greatest return is the kitchen.
* Do a mini-remodel. Change the paint. It sounds simple, but it works. You can also paint a faux-wood finish onto your cabinets.
*Add a splash of color with a new backsplash. New tile is attractive. Home improvement stores teach classes on this.
*Stainless Steel appliances are popular now - The cold feel and look of steel are a hot ticket item for buyers. *Transition your appliances as they wear out and go with a similar metallic look in your light switches.
*Hang a pot rack with fresh new pots, pans and a hanging wine bottle holder.
*Add a rolling island.

In our next Thursday Tips post, we’ll explore the benefits of remodel vs selling. Stay tuned.

Product Development Manager, Melnecia Marshall, stated this season 520,730 passengers will disembark in St Kitts and Nevis. She said all cruise liners are expected on schedule for the season which started officially on October 9th this year and will end in March of 2010.

The Federation continues to see a steady visitation of ships, with the Millennium with 2,034 passengers, and the Silver Shadow, bringing 388 passengers.

November 21st, the Carnival Village carrying 3,050 passengers, and the Ocean Village 2, with 1,708, both docked at Port Zante.

The St.Kitts Tourism Authority official indicated that there would be cruise liners in every day this week and urged the general public to market the country to our visitors.

If you are a cruise visitor, please stop in our Coldwell Banker office to say hello and we’ll do what we can to make your visit memorable.

For the 1st 9 months, the Federation reports a fiscal surplus above their expectations, and projects a good economic outlook for the future.

A total of EC $26.13 million was recorded as the Recurrent Account surplus for the period under review, some EC $21.79 million more than the revised target amount. This surplus shows a significant improvement from last year’s EC $9.11 for the same period. As it relates to the country’s Overall Balance for the first three quarters of the fiscal year, the report noted EC $58.09 million, an improvement of over EC $40 million from the same period in 2008. This figure surpasses the projected amount by EC $33.57 million.

Minister of Finance Hon. Dr. Timothy Harris described the accounts of the first three quarters as “positive, significant and impressive” and thanked the staff of the Ministry of Finance and all revenue-collecting ministries for ensuring that government’s finances are “efficiently and effectively managed”. He welcomed the promising news as the region is still making efforts to stay afloat amid worldwide economic and financial crisis.

Harris pledged that his ministry will continue on a path of fiscal responsibility.

1. Is Real Estate your full-time profession?
2. How many properties have you sold in my neighborhood?
3. How many other sellers are you representing now?
4. Do you have assistants or support staff who would handle my transaction?
5. Is your license in good standing?
6. How many years of experience do you have?
7. Are you a broker?
8. Are you a member of a MLS?
9. What professional organizations do you belong to?
10. How will you network to sell my home?
11. Can you provide names and contact information for 3 references?
12. Do you speak any language other than English?
13. How will your company and the other agents there help sell my property?
14. How well do you know the market you serve?
15. Can you give me a market analysis of sales in my neighborhood and other homes on the market?
16. What is the average Days on Market?
17. What time on market can I expect?
18. Explain what marketing you would do for my home, including on the internet.
19. What will you differently marketing my property than for all of your other listings?
20. How do you use technology, both in marketing and servicing my needs?
21. How do you separate yourself from your competition?
22. Will you hold Open Houses?
23. Will you be present at showings?
24. Will you obtain feedback from showings and share that with me?
25. How often will you communicate with me on your progress in finding a Buyer?
26. What suggestions do you have for staging the property?
27. What suggestions do you have for showing the property?
28. Should my home be sold “As Is”? Why or why not?
29. What input do I have in your advertising?
30. Other than yourself, who is the best agent in this area to sell my home and why?
31. Why should I list with you?
32. At what price do you think my property will sell in the current market?
33. What is your pricing strategy if it doesn’t sell quickly?
34. What is your commission?
35. What services do you provide?
36. What is the term of the listing agreement?
37. What is your cancellation policy?
38. Do you offer a guarantee?
39. Explain the Listing Agreement.
40. What is Dual Agency and your position on this?

You may not get all of these questions asked, but interview more than one realtor when you get ready to list, and be satisfied that the answers of the agent you choose will place your interests first. We feel sure you will find Coldwell Banker offers more services and more knowledge than any other company you will consider.