Coldwell Banker Islands Blog

IT MAY sound easy and it’s tempting.
But selling your Bahamas real estate without the services of a professional realtor can easily turn into a nightmare.
Ask the majority of vendors if, given a second chance, they’d try to sell their Bahamas home again without using a professional, and the answer will likely be “no.”
The first mistake in a For Sale By Owner (FSBO) situation is pricing. Owners often place an inflated value on their home that has no bearing on size, location, neighbourhood, other properties on the market or general market conditions. This means it will languish on the market and go through several price drops before it sells.
While a vendor reasons he can save on the real estate commission, the purchaser uses the same logic. Where does that leave either party?
Many vendors think selling a home is as easy as placing an ad in the newspaper on a sign out front. Wrong!
Newspaper ads are just one way of getting information out on Bahamas real estate, especially in this high tech world, and a series of ads are usually required, not to mention website exposure and e-mail blasts, among other things. This can be quite expensive.
The vendor also lacks that most crucial tool ^ a list of contacts and prospects acquired from years of networking both inside and outside the Bahamas. Someone needs to market the property! That is what a Bahamas Real Estate Association professional is for.
Fielding calls and showing the home can be an exhausting process if you don’t know what you’re doing. There is an art to handling inquiries, staging and showing homes and negotiating.
Speaking of showing homes, will you be able to drop whatever you are doing to show your home at a purchaser’s whim?
The realtor knows how to work through a host of issues, including whether a home might be suitable for a particular prospect, can get answers to Bahamas zoning questions, get financing information and, most importantly, can advise you as to proper pricing of your property.
Don’t forget the market determines the eventual selling price. Not you, your realtor or how much you need to get out of the sale. Put an inflated price on your property and it will languish on the market.

H. Lavity Stoutt Community College has joined with two non-profit organizations in a territory-wide campaign against cancer.

The “Race for Cancer,” scheduled for Saturday Nov. 13, at the College´s Paraquita Bay Campus, will be held in collaboration with the BVI Cancer Society and the Rotary Clubs, and forms part of a series of planned activities this year in observance of the College´s 20th anniversary.

The Race Director, Stephanie Russ Penn, said the College is approaching schools, businesses, other NGOs and individuals to support the fund raising drive. Arrangements are also being made for Virgin Gorda participants to be on Tortola for the event.

According to the World Health Organization, cancer rates in developing countries are progressively approaching those in the industrialised countries.

For more information about how to make contributions or to support the fund raising efforts, please contact the Race Director, tel. 852-7216, or email sruss@hlscc.edu.vg.

(resource: BVIPlantinum.com)

Tim Peck, BVI resident for over 20 years and Chairman of OBMI, leading firm of Architects in the BVI and Caribbean, designed this home on spec based upon his preferred lifestyle “…open, free-flowing, clean and modern, and thoroughly respectful of location and context.” The result is a comfortably scaled, contemporary Caribbean home. Making the most of the location’s spectacular views, it provides all the benefits of a manageable luxury condo with the privacy and pride of ownership of stand alone villa. • Completed October 2010 • 3 bedrooms, 3 1/2 bathrooms • Pool with swim jet and fibreoptics • Underwater sound system • Crestron multi zone audio system • Lutron, energy efficient, lighting system • Insulated energy efficient structure • European appliances When designing his own house, where does an architect begin? After 30 years designing homes for clients in the BVI, Tim Peck, Chairman of OBMI, understands the essential ingredients of a Caribbean home. Tim and his wife Scottie are building three homes overlooking Ballast Bay and Cane Garden Bay—two for sale and one for themselves. “We set out to design the first of these homes based upon our preferred lifestyle: open, free-flowing, clean and modern, and thoroughly respectful of location and context,” said Tim. The result is a comfortably scaled contemporary Caribbean home which makes the most of the location’s spectacular views. Tim and Scottie endeavoured from the outset to preserve as much of the natural vegetation on the site as possible. They cleared the building zone themselves, working the location of the house and the access to the site in between the existing trees. “We were delighted that our contractors, Arthur and Eric, worked with us to minimise damage to the trees. Preserving the natural vegetation makes so much sense, in terms of limiting soil erosion and harmful runoff, and reducing future landscaping costs,” Tim noted. The footprint of the house was kept simple to reduce site disturbance with the house stepping up three stories to accommodate the three bedrooms. Access is from the rear, slightly above mid level, with the house nestled in amongst the trees, keeping the visual impact of the three levels to a minimum. The approach from the uphill side means that the roof becomes a major visual feature. Tim and Scottie decided to opt for a neutral grey standing seam roof, reminiscent of the older traditional zinc-clad roofs with the simplicity of the lines complementing the stepped eaves and tall gable windows. The eaves were brought down low, to reduce the visual height externally, but internally the steep pitch of the roof and the exposed rafters enhance the volume of the bedroom spaces and allow for generous attic storage. Tim wanted to blur the boundaries between interior and exterior living where possible and opted for opening up the living area on two sides with pocketed sliding glass screens. With some structural gymnastics, the corner column was eliminated leaving the open corner appearing to defy gravity, bringing the swimming pool and water wall into the living space and completely opening up the living areas to the views. The living space is sleek and chic with travertine tiles flowing through to an open kitchen. A freestanding wood staircase to the upper bedrooms is a folded plate of butcher block dramatically cantilevered out from the living room wall. Stainless steel cables run through two levels of the house, passing through the edge of the staircase, offering a safe but creative alternative to the traditional stair balustrade. The effect offers an open sculptural solution for the vertical transition though the house. Tim and Scottie decided to paint the two master bedrooms’ steeply pitched rafters and boarding white for a brighter, more contemporary feel. The dramatic lighting of the structure is further emphasized in the second master bedroom by the use of a large triangular gable window in the eaves. The bathroom has a double-ended bath with a view over Cane Garden Bay to Jost Van Dyke. Tim and Scottie were focused on designing a master bathroom with the ambience of a spa whilst maintaining the theme of outdoor living. The solution was to provide a wall of pocketing sliding glass panels opening up and an alfresco shower. The vanity cantilevers out in front of the wide opening, ensuring that the morning ablutions also take full advantage of the outdoor views. Overall, the house features generous internal and external spaces with a level of intimacy which respects their uses. The result is an interesting interpretation of an architect’s design decisions for contemporary living in a Caribbean environment.

How High Tech do you want your new home to be?

If the latest technology or entertainment options are important in your new home, add the following questions to your buyer’s checklist.

1. Are there enough jacks in every room for cable TV and high-speed Internet hookups?

2. Are there ample telephone extensions or jacks?

3. Is the home pre-wired for home theater or multiroom audio and video? Does it have in-wall speakers?

4. Does the home have a local area network (LAN) for linking computers?

5. Does the home already have wiring for DSL or another high-speed Internet connection?

6. Does the home have multizoning cooling controls with programmable thermostats?

7. Does the home have multiroom lighting controls, window-covering controls, or other home automation features?

8. Is the home wired with multipurpose in-wall wiring that allows for reconfigurations to update services as technology changes?

To rate the home on its technological sophistication, fill out the Consumer Electronics Association’s TechHome checklist at www.ce.org/techhomerating.

Check with one of our Coldwell Banker agents to find the builders and homes to fit your needs, if you want today’s technology in your new home.

How High Tech do you want your new home to be?

If the latest technology or entertainment options are important in your new home, add the following questions to your buyer’s checklist.

1. Are there enough jacks in every room for cable TV and high-speed Internet hookups?

2. Are there ample telephone extensions or jacks?

3. Is the home pre-wired for home theater or multiroom audio and video? Does it have in-wall speakers?

4. Does the home have a local area network (LAN) for linking computers?

5. Does the home already have wiring for DSL or another high-speed Internet connection?

6. Does the home have multizoning cooling controls with programmable thermostats?

7. Does the home have multiroom lighting controls, window-covering controls, or other home automation features?

8. Is the home wired with multipurpose in-wall wiring that allows for reconfigurations to update services as technology changes?

To rate the home on its technological sophistication, fill out the Consumer Electronics Association’s TechHome checklist at www.ce.org/techhomerating.

Check with one of our Coldwell Banker agents to find the builders and homes to fit your needs, if you want today’s technology in your new home.

How High Tech do you want your new home to be?

If the latest technology or entertainment options are important in your new home, add the following questions to your buyer’s checklist.

1. Are there enough jacks in every room for cable TV and high-speed Internet hookups?

2. Are there ample telephone extensions or jacks?

3. Is the home pre-wired for home theater or multiroom audio and video? Does it have in-wall speakers?

4. Does the home have a local area network (LAN) for linking computers?

5. Does the home already have wiring for DSL or another high-speed Internet connection?

6. Does the home have multizoning cooling controls with programmable thermostats?

7. Does the home have multiroom lighting controls, window-covering controls, or other home automation features?

8. Is the home wired with multipurpose in-wall wiring that allows for reconfigurations to update services as technology changes?

To rate the home on its technological sophistication, fill out the Consumer Electronics Association’s TechHome checklist at www.ce.org/techhomerating.

Check with one of our Coldwell Banker agents to find the builders and homes to fit your needs, if you want today’s technology in your new home.

How High Tech do you want your new home to be?

If the latest technology or entertainment options are important in your new home, add the following questions to your buyer’s checklist.

1. Are there enough jacks in every room for cable TV and high-speed Internet hookups?

2. Are there ample telephone extensions or jacks?

3. Is the home pre-wired for home theater or multiroom audio and video? Does it have in-wall speakers?

4. Does the home have a local area network (LAN) for linking computers?

5. Does the home already have wiring for DSL or another high-speed Internet connection?

6. Does the home have multizoning cooling controls with programmable thermostats?

7. Does the home have multiroom lighting controls, window-covering controls, or other home automation features?

8. Is the home wired with multipurpose in-wall wiring that allows for reconfigurations to update services as technology changes?

To rate the home on its technological sophistication, fill out the Consumer Electronics Association’s TechHome checklist at www.ce.org/techhomerating.

Check with one of our Coldwell Banker agents to find the builders and homes to fit your needs, if you want today’s technology in your new home.

Sometimes, people may be a bit confused when a property is advertised for sale. Bahamas Real Estate Association (BREA) members price their properties the same way. Unfortunately, some private sellers quote or advertise a net figure, which means they list the price at the amount they want at the end of the day in their pocket.

All Bahamas Real Estate Association members quote their prices based on what we call a GROSS figure. A gross price will include the agent’s commission, one half of the applicable government stamp duty and the vendor’s attorney’s fee.

For example, if Bahamas real estate is listed for sale at $150,000, this means that the purchaser will have to pay on top of the GROSS price one half of the government stamp duty and his/her attorney’s fee. This attempt to standardize asking prices was started approximately twelve years ago to avoid confusion.

In addition, all Bahamas real estate appraisals are valued at GROSS prices. Unfortunately, some owners who have appraisals prepared on their behalf mistakenly think that the valuation is, in fact a NET price to them. In other words, they think it’s the amount they will receive in their pocket on the completion of a sale.

This is not correct. All appraisers explain in their valuation that the figure is a GROSS price.

Richard “Ricky” Skerritt, Minister of Tourism and International Transport, St. Kitts and Nevis; and Chairman of the Caribbean Tourism Organization mae the South Florida Caribbean News with the following quote:

“It is a different visitor who is arriving in the Caribbean now than in the past. This visitor is more demanding, expecting maximum value for money, and is more discerning, seeking a more spiritually fulfilling vacation experience that includes more interaction with local people and a deeper connection with our land and culture.”

The Four Seasons Resort Nevis will re-open on December 15, 2010. “It will be the same resort that guests have always loved,” says Tara MacIntyre, spokeswoman for the resort. “We will have a chic new look and feel to the property, but the same friendly Nevisian smiles to greet you.”

As reported by Luxist.com, “Long considered one of the best hotels in the entire Caribbean, the Four Seasons Nevis was damaged by Hurricane Omar in October 2008. Closed ever since, the resort is in the process of completing renovations throughout the property.

“The resort features 196 spacious, luxurious guest rooms and suites in 12 two-story guest buildings just steps from the beach and exclusive two- to six- bedroom residence villas. It is an intimate retreat in a low-key destination known for its romantic settings, unspoiled environment and rich history and culture. The resort offers several swimming pools, a top-rated spa, tennis and kids’ facilities as well as abundant water sports and nature excursions.”