Is Renting Easy Money?
- Feb 21, 2014 - 10:34:58 AM
You might hear about a friend of a
friend who bought a house and is renting it out to make some extra
income. You might also hear that this person just sits back and
collects the rent check every month, goes fishing most of the time and
you think, what a great idea! Sounds like a no-brainer right?
a house to rent or turning your own house into a rental instead of
selling can be a good way to make some passive income. It can also be a
way to cover the mortgage on an investment property. BUT . . . there
are a lot of issues you need to consider before you decide to become a
landlord. There are two ways to approach renting your property: you can
be the landlord yourself or you can hire a property management company
to oversee the property. If you try to do it yourself, remember that
your property will need to be maintained and you have to be aware of all
the expenses that include: repairs, landscaping maintenance, costs
between tenants, painting, new carpet, cleaning , utilities, insurance,
advertising, real estate fees etc...
New airlift helps real estate on Grand Bahama Island
- Feb 6, 2014 - 11:01:00 PM
Many people look at a
glass and say it's half empty and many people look at a glass and say it's
half full. Well whether you are an optimist or a pessimist the reality
is that there is something happening on Grand Bahama.
have been to Port Lucaya Marketplace you will see live human bodies
walking around shopping and patronizing the shops. I am not saying that
everything is fine in Grand Bahama, but I am saying things are looking
better, and there is more to come.
I have always said that we
‘need more Airlift on the island.’ Well believe it or not, there has
been an increase in airlift, which for a small island can really help
the real estate market and the economy in general.
If you want to sell, you have to be realistic about price
- Nov 27, 2013 - 11:10:27 PM
As 2013 winds down (with only 34 days till 2014, believe
it or not!), I am pleased to report that there appears to be some real estate
activity in Grand Bahama.
Many may think I am an eternal optimist but the
fact is that there are single family homes, canal property, condos, commercial
buildings, and duplexes selling. The market is not dead as many people want to
believe. In spite of Freeport’s unique problems, the trend is in the right
direction again as we are seeing offers accepted on homes and actual closings
The world economy is recovering and our neighbors
in the US have already experienced this rebound, so its no surprise that things
will get better. My personal opinion is that we have hit bottom and the market
is rebounding. I did not say that that
property values are going up. I said that the there is real estate activity
which is a great sign of recovery.
Can Property Sell During the Holidays?
- Nov 17, 2013 - 10:40:20 AM
Believe it or not the
Holiday season is upon us again. It feels like 2013 just began that
Christmas is only 6 weeks away. Another year has passed and I know that
many of you sellers are wondering “Should I list or keep selling my
home during the Holidays?
Many people would say NO you should
wait until after the Holiday Season because everyone is too busy
thinking about Thanksgiving and Christmas and not about buying homes or
property. This may be true for some, BUT here are 10 reasons why you
should list and keep selling your home during the Holidays. I know that
many sellers are very frustrated with our soft market but remember it
only takes one buyer to make a deal and your deal might be just around
the corner. Wouldn’t that be the BEST Christmas present this year?
Will Sunwing help the real estate market in Grand Bahama?
- Sep 5, 2013 - 2:28:34 PM
It looks like Sunwing
is really coming and that's good news for the Grand Bahama Real Estate
Market. I drove by the old Holiday Inn (Reef Village) yesterday and saw
containers arriving and lots of activity. The owners of the hotel are
spending a lot of money preparing the "new hotel". According to
Sunwing's web site "Starting January 16th, 2014, they will be offering
weekly winter service from Halifax, Montreal, Ottawa, Winnipeg and
Edmonton to Freeport, Grand Bahama, along with year round flights from
Toronto. They are introducing a the brand new Memories Grand Bahama
Beach and Casino Resort, a 4 1/2-star all inclusive family-friendly
resort located on a pristine stretch of white sandy beach"
The Emotional Side of Real Estate
- Aug 2, 2013 - 12:04:28 AM
As we all know,
emotions play a big part in life—and that’s also very true in real
estate transactions. It’s not always only about the number of bedrooms
and the price. A real estate transaction can involve feelings of joy,
anger, love, hate, sadness, disgust, surprise, expectation,
anticipation, just to name a few. As real estate brokers, our job is
part business consultant and part psychologist.
When you want to
sell your property, you call a real estate agent who meets with you and
“takes a listing”. The agent asks the Sellers to put their emotions
about the value of the property on hold, and allow the agent to be
objective in appraising their home...
Is this the right time to buy real estate?
- Jul 25, 2013 - 8:57:35 AM
Shakespeare’s play Hamlet written in 1600 Hamlet asks the question TO BE
OR NOT TO BE as he questions the meaning of life. If Hamlet lived in
Freeport, Grand Bahama 400 years after he asked that question in his
famous soliloquy he might now ask the question TO BUY OR NOT TO BUY?
people have asked themselves this question especially as the world
economy slowly recovers. While each option of renting or owning has its
benefits, the decision to purchase a duplex, condominium or house as
opposed to renting, is complex and based on a number of factors...
Was the Magic Back in Freeport for a Night?
- Jun 5, 2013 - 1:13:57 PM
Was the Magic back in Freeport for a night, or was that just a dream?
Saturday night, thanks to the combined efforts of Rotary Club of GB
Sunrise’s Cigar Nights at Pelican Bay, the Grand Lucayan Hotel’s Soca
Concert with Alison Hinds, and Neptune’s Nightclub, the magic was back
in Freeport for a night. Yes it was only a night, but it was an evening
that found Freeport extra-alive, energized, and enthused—as if awakened
from a long sleep.
It all began when 400-plus people attended a
wonderful vintage Havana-themed evening to benefit Rotary Club of GB
Sunrise’s Big Brother/Big Sister and community projects. There was great
food, a super jazz group with Ralph Munnings, Patrick Boston, Les
Lewis, Clarence Green, and Mikki Gottlieb, salsa dancers, an expert
Cuban cigar roller from Graycliff in Nassau, music video shows, salsa
dancing, cigar smoking on the balcony, laughter, and just plain fun...
Will the big projects really come to Freeport, Grand Bahama?
- May 17, 2013 - 1:43:58 PM
On Grand Bahama Island
we never believe any news about big projects coming on stream because
we have been let down so many times with projects that are talked about
in the press but never happen. We jealousy watch major projects come on
stream in Nassau like Atlantis, Bahamar, Albany, and projects like
Bakers Bay in Abaco. They even say that Sol Kerzner came to Freeport
and met with Edward St. George about building hotels right here on our
island, but ended up building the world famous Atlantis in Nassau which
has had a major impact on the Nassau economy.
Though talk is
cheap… in yesterday's Nassau Guardian there was an announcement about a
major Chinese funded project in the East End called Blackwood Point
Resort and Marina which would be a 1500 room casino hotel and billion
The Best Investment on Earth, is Earth
- May 16, 2013 - 1:38:11 PM
The US housing slump
is over according to experts. I wish I could say the same for Freeport
but that would only be wishful thinking. From the local perspective our
housing market is still very slow and the # of sales transactions are
still very slow with a surplus of inventory meaning there are lots of
houses for sale. This oversupply of property for sale makes this truly a
Buyers Market which means that prices are down and Buyers can make
aggressive offers because there is so much to choose from.
been said that the best investment on Earth is Earth which means the
best investment is and always will be Real Estate. It's hard to believe
sitting here in Freeport that things will improve in the real estate
market, but according to many top economists the world economy is
emerging from the worst recession in five decades...
Make Money by Investing in Real Estate
- Apr 11, 2013 - 11:38:23 PM
There is no such thing
as easy money or a free lunch, but there is opportunity to make money
in real estate even in our struggling economy.
Investing really can be as simple as playing monopoly. Your goal is to
buy properties, avoid bankruptcy, and generate rent so that you can buy
even more properties and make a profit. But "simple" doesn't mean
"easy". If you make a mistake, you could find yourself broke or worse…
so make sure you do your homework. Remember the money that you will be
“playing’ with is NOT Monopoly money!
Buying a Home is a Sensible Investment
- Apr 4, 2013 - 11:59:03 PM
It's already April and
the first quarter of the year has flown by. If one of your New Year
goals was to get involved in Real Estate on Grand Bahama Island and
build wealth, then it is time to make your move. Don’t let another year
slip away and Be a Woulda Coulda Shoulda person but rather make your
move now. It is an economic historical fact that home and land
ownership builds wealth in spite of fluctuating economic conditions.
there is uncertainty in the market people start questioning whether it
is a good time to buy and sell real estate. We are all aware that our
neighbours 60 miles away in Florida have started to see a recovery in
their real estate market which means that we will start see more
activity in our market in the future...
Sellers get ready because the Canadians are coming! The Canadians are coming!
- Feb 28, 2013 - 6:40:39 PM
According to Tuesday's Freeport News,
Prime Minister of the Commonwealth of The Bahamas Perry Christie
announced that in a matter of weeks construction work will begin to
convert the Reef Village Inn into Memories Grand Bahama Beach and
Casino Resort, a five star all inclusive resort. This is a partnership
between Sunwing Travel one of the largest most successful tour companies
in Canada, Hutchison Whompoa and The Government. This is indeed long
awaited welcome news for all of us in Grand Bahama. Sunwing owns a
fleet of 737's and will be bringing GB the much needed airlift DIRECT
from Canada that we have all been praying for. The plan is to renovate
the hotel into a Blue Diamond Resort, add restaurants, aqua theme park
and more. This is fantastic news for Freeport because it brings jobs...
James Sarles speaks to business leaders from 27 countries on 10 great reasons to invest in real estate in The Bahamas
- Feb 27, 2013 - 2:03:41 PM
Freeport, Grand Bahama Island - At the recent Bahamas International
Business & Investment Forum (BIBIF)—a conference held February
20-21, 2013 at the Grand Lucayan Resort, showcasing The Bahamas as a
global investment destination of choice—James Sarles, President of
Coldwell Banker James Sarles Realty, presented to the assembled
international investors, business leaders, Bahamas Cabinet, Ministers,
and key government officials, an overview of Ten Great Reasons to Buy
Real Estate in The Bahamas.
James Sarles’ leadership in The Bahamas real estate market, and
experience in both global connections and the local community brought a
unique personal vision...
What's the future of real estate on Grand Bahama Island?
- Feb 7, 2013 - 6:25:36 AM
I have been a real estate broker on Grand
Bahama Island for many years and I have a few gray hairs to prove it.
As a broker the number one question that people always ask me is what
is the future of real estate on the island. No one has a crystal ball
that can see the future exactly but with the current state of the
economy there are many factors that give us an indication of the Future
of Real Estate on Grand Bahama Island.
important point to keep in mind is that it is very difficult to make
broad statements about the state of the Grand Bahama real estate because
there are many different real estate markets on the Island. There is a
big difference between raw land, lower income homes, high end beach
front homes, condos and duplexes. No one would ask you how the weather
is in the United States because that’s too general. The weather is of
course different in Buffalo, New York then it is in Phoenix, Arizonia...
Owning property is a way to build wealth
- Jan 24, 2013 - 4:44:35 PM
We are already 24 days
into the New Year and if one of your New Year goals was to get involved
in Real Estate on Grand Bahama Island and build wealth then it is time
to make your move. Don’t let another year slip away and Be a Woulda
Coulda Shoulda person but rather make your move now. It is an economic
historical fact that home and land ownership builds wealth in spite of
fluctuating economic conditions. It is all about timing but you have to
get in the game.
When there is uncertainty in the market people
start questioning whether it is a good time to buy and sell real estate.
We are all aware that the world economy has been
Can the magic city of Freeport be revived?
- Oct 10, 2012 - 9:20:42 PM
you talk to people around Freeport, or listen to the local news, you may think
that the sky is falling when it comes to our economy and the real estate
market. People feel Freeport will never get out of this slump and that the housing market will never recover.
Everyone is talking about Terry Gape's article that was released
Monday. ECONOMIC CRISIS IN FREEPORT: A CALL TO ACTION. I hope that this article
causes Hutchison, GBPA/DEVCO and the licensees to take action. It must be done
and if action is taken, I believe that change will happen. It will take work
but everyone wants Freeport to
Selling your property in a buyer's market
- Sep 27, 2012 - 11:50:00 PM
You hear people say that Freeport, Grand Bahama is a Buyer's Market.
For those who don't know what that means: A buyers market is a
market which has more sellers than buyers and low prices result from
this excess supply over demand.
If you own a home or land in Grand Bahama and you who want to sell
today in the middle of this buyers market and slow economy you have a
choice: You can sell in the current market at current market value or
you can wait...
Grand Bahama Introduced to London
- Jan 31, 2012 - 11:48:51 PM
Sarles, President of Coldwell Banker James Sarles Realty, was recently
invited by exclusive Savills to the launch of their Caribbean desk,
where he showcased Grand Bahama property listings in London. Sarles
works with Savills—a global real estate service provider listed on the
London Stock Exchange—to give his clients greater world wide reach.
encompasses an international network of more than 200 offices and
associates throughout the Americas, the United Kingdom, continental
Europe, Asia Pacific, Africa, and the Middle East. A broad range of
specialist advisory, management, and transactional services is offered
to clients all over the world...
Real estate predictions in 2012
- Jan 6, 2012 - 7:10:26 AM
of the interesting parts of ringing in the New Year is the speculation on what
the New Year will bring to the Grand Bahama Real Estate Market, the US Real
Estate Market and the world Real Estate Market. Collecting New Year predictions
isn't as silly as it sounds; it gives knowledgeable players a chance to share
what they know. For my readers who are
wondering what to do in 2012 here are a few interesting trusted voices in the
US market which directly correlates to our market. Because as the saying goes,
when the US sneezes we catch a cold in Grand Bahama.
Karl Case, an economist and professor emeritus at Wellesley College, is
one of the nation's smartest observers of the real-estate
market in the US. The S&P/Case-Shiller Index, invented by Karl Case
and Robert Shiller, "is pretty much
the Dow Jones industrial average of real estate," says The New York
Times. I read an article by Karl who predicts that
the real estate market in the US is
showing signs of recovery. That’s good sign for our market.