Luxury Real Estate

 By Jim Walberg of Caribbean Islands Realty

When a yacht leaves the docks for sailing adventure, the family and friends of the crew are standing on the dock waving your hands goodbye, and shouting “Do not be fearful!” This well known sailor’s mantra is because the crew have no idea what is going to happen during their voyage.

This phrase, “Do not be fearful,” is in many aspects of my life, not just sailing. How about real estate today. It is the phrase that is used by both the crew and the family and friends staying behind. My experience with this mantra is based on the fact that no one knows what will ever happen on a sailing adventure. The only certainty this is known by the crew and their family and friends is the latitude and longitude of the destination of the voyage. What happens from the moment you set sail to the moment you drop anchor at your destination is what is called “a sailing adventure”, or maybe we could substitute it with a business phrase - “a real estate adventure.”I could write a book about all of the unexpected events that have happened to me on many sailing adventures I have participated in the past 50 years. It is OK to have a healthy sense of fear for what may lie ahead, but fear does not prevent the sailor from setting sail, even by knowing the challenges that will be faced during the voyage. Someone that lets fear stop them from setting sail to a familiar or new destination is called a “landlubber”, not a sailor. So, fear can either serve you or it can paralyze you. I chose to have it serve me, even though I have been in some very scary moments during my life.

One example of my 50+ years of sailing adventures was during a sailboat delivery on the west coast from San Francisco to Cabo San Lucas in Mexico. The sailboat was a MacGregor 65 that is a “rocket ship” that is only twelve feet wide and sixty-five feet long, and is primarily used for racing. It is not considered a “blue water” sailing vessel. It is just built for speed - 12 to 14 knots for a mono-hull, which is VERY fast! However, the MacGregor design is known to break up in moderate seas because of it being so narrow and light.

Off the Santa Barbara Islands our crew of four decided we better stress the boat to the max to see if there were any flaws that could be uncovered before we got into Mexican waters. We put all the sails up on a day of 20+ knot winds. Within minutes the boom broke in half with me standing next to it. It smacked me on my bald head and knocked me overboard.My crew mates acted quickly - another important trait of a sailor, and turned the yacht back into the wind, threw me a life preserver, and slid the boat gently beside me and snagged me with a mooring hook so as to bring back aboard. They then lashed to boom together and the “adventure” began of how we could design a sail pattern that would allows to limp into the San Diego for repairs.

As a sailor you need to constantly improvise during these types of moments which requires focused and inventive mind. With the boom broken in half you can’t use your mainsail effectively. So, we rigged it to use the jib and “jerry rigged” the main so we had a small portion of it in the wind. The repair was completed in less than a day, and we were off to Cabo for another successful delivery. Another sailing adventure was placed into the ship’s log book.

Here is the point of my story. The only way a person gets to “new shores” is by being on the “yacht” when it sets sail - in spite of your fears. In the midst of the continued world economic crisis there is fear and trembling happening with Realtors and their customers. Today is THE real estate market. There is no wishing it was different. It will not change because of wishing. So, we need to adapt, have a focused and curious mind as to how to solve the “challenges” that are presented to us each day, and create magnificent outcomes for each of them. I would rather be in the midst of a life adventure any day, as opposed to standing on the sidelines paralyzed with fear, and missing the experience. Let me know some of your experiences where fear was overcome in spite of it being present. Your Caribbean lifestyle detective remains on duty. Until next time….fair winds!

By Jim Walberg of Caribbean Islands Realty

So how does a surfer kid from Southern California end up falling in love with the Caribbean? Have you ever seen the surfing opportunities in Barbados and Tortola? If your answer is YES, then you know the other answer, too.

I arrived in Redondo Beach in 1948, and lived on the beach for the first 21 years of my life. I thought it was normal to live a block from the pier and enjoy all the Pacific Ocean offered - everyday! I thought all things connected to the Pacific Ocean were normal - sailing, surfing, diving, beach volleyball, pier fishing, boat deliveries to Mexico, and a hundred more activities. In hindsight I was one the luckiest kids I know because of growing up with amazing experiences connected to the Pacific Ocean - every day. I had no idea that my love for the ocean would lead me to the Caribbean Islands and then create an international real estate company.

 

A life changing discovery happened for me in the mid-1970s while on my first sailing adventure in the Caribbean. Up to that point I had only sailed in the Pacific and Mexico. My Caribbean sailing trips began in the BVI, and then broaden out over the years to sailing the entire chain of the Caribbean Islands.

I had no idea that the Caribbean had any surfing opportunities. So, during my Caribbean sailing adventures I discovered the “Soup Bowl” in Barbados, and Lambert Bay in the BVI. Not only are there some GREAT surf spots in the Caribbean, the beaches are breathtaking while you are sitting watching the left and right breaks. Did you know there is a surf shop, Totem, on St. Barts? St. Barts is my favorite jewel of the Caribbean for pure decadence. And, I could not believe there was a surf shop on the island. I still have a Totem decal on the back window of my Lexus SUV. The staff at Totem opened up a whole new world to explore - Caribbean surfing.

The best surfing in the Caribbean is in Barbados. Melanie Pitcher runs one of the best surfing schools in the Caribbean - Surf Barbados. And, boy can she surf. There is even a surf camp in the BVI on Tortola. I just discovered that one last year! So, you are probably thinking that I have the Caribbean scene wired after all of my discoveries the past 35 years of diligent detective work. You are mistaken. There is a life time of discoveries in this magical part of the world. That is why I keep coming back, and the reason why we are having so much fun serving our international real estate customer’s appetite for owning their piece of Paradise.

So, contact me about some of your favorite surf spots in the world, or for even information about your next home purchase in Paradise. Your Caribbean Islands lifestyle detective remains on duty!

By Jim Walberg of Carribean Islands Realty

Yes, you can enjoy Jim Walberg’s Caribbean Paradise without owning a Fractional deeded ownership, home, town home, or villa. Your alternative is a luxury Caribbean rental.

Those of you who enjoy a visit to the U.S. and British Virgin Islands are going to LOVE the luxury rental I discovered a few weeks ago. In fact, I have stood on the deck and enjoyed the sunrise over American Yacht Harbor in Red Hook - a magnificent sight! This luxury rental is named “Harbor House”, and it sits on the hillside above the harbor.

So, when I am talking about a luxury Caribbean rental, what does that mean? Well, how about a home that is just a five minute walk to American Yacht Harbor, Duffy’s Love Shack, Molly Malone’s, and the Caribbean Saloon? Now, a visit to three of my favorite stops in Red Hook will just barely take you through lunch. You can then walk to Vessip Beach, or the Ritz Carlton beach, or you can drive your car to Secret Harbor which is just a short distance away. Secret Harbor is another beach that has a very fun bar that I frequent - Blue Moon.

As part of the two story villa and gorgeous private pool, you have a gourmet kitchen, three elegant bedrooms, 3.5 bathrooms, and don’t forget the views from all the windows. It can easily sleep six, but we had a total of eight of us without a problem. One of your days at Harbor House will require you visit Charlotte Amalie’s duty free shopping district, and a visit to Havensight - another duty free shopping area of St. Thomas. You will have every luxury item you can imagine, all within just a few blocks - jewelry, watches, cameras, perfume, silk, and on and on!

As part of the weekly lease package the owner, Captain Mike, will include a private day charter on his 35 foot Maxum power yacht, and race you over to the BVI for a day of SCUBA diving, snorkeling, and just non-stop fun in the sun. You end your day at the island of Jost Van Dyke at my FAVORITE beach, White Bay, and my favorite beach bar - Soggy Dollar Bar. You can say hello to Mick and enjoy a rum Pain Killer and sit on my favorite sunset beach. This type of day charter for six people would cost about $1,200. Your cost is that of a skipper, British custom fees, fuel, and any of your food and drink. Well, given my experience with the drink costs, they can be high because thirst is a dangerous thing.

Captain Mike will even throw in the use of his 2002 Chevy Blazer as part of the deal, so you don’t even have to rent a car for your week of exploring St. Thomas. So, what does a luxury rental of Harbor House cost? It is about $4,500 per week for six people. Contact me for more information about booking this little piece of Paradise. I will fill in any of your week’s itinerary if you need some help. Until next time…your Caribbean lifestyle detective remains on duty.

By Jim Walberg of Caribbean Islands Realty

Two charter vacation yacht owners who are also the crews on their gorgeous yachts, checked in with Jim Walberg regarding some experiences from their current 2009 season in the Virgin Islands.

S/Y Three Moons: Randy and Shelly Tucker - Owners/Crew

The instability of the economy is only making us work harder at perfecting our positive image of being a high level professionally crewed yacht. Yes, we are all networking more and reaching out in new ways to contact prospective clients. We are emphasizing that no corners are being cut for our guests, no matter the cost or the economy. ALL INCLUSIVE still means “all inclusive” for our guests. We are a premium yacht with three professional crew members that continue to serve each of our guests in a royal style. This seems so much smarter than making “desperation deals”. If it results in a quieter season overall, then the results will reflect positively with the great changes that have been made to our yacht. All of us have our 2009 “to do” list and are happily getting it “done” with an extra week of time here and there between charters!

 

Also, visit us at the Spring Show in St. Thomas at Yacht Haven Grande. It will be another opportunity to show off our “stuff” to the various charter vacation brokers. And…our 1^st Mate - Becca Lee, has been working as a Tour Guide for Princess Cruise Lines here in St. Thomas for a couple of years between charters. Last month she was awarded with the prestigious “Tour Guide of the Year” award. We topped off her excitement with a nice tiara to wear while washing dishes in the Three Moons Galley! Being a crew member always keeps us grounded in a state of reality. Becca has created quit an impression with our guests this year because of her non-stop fun-loving style. And, Jim, the weather is sunny, 85 degrees, and the water has 100 foot clarity and is 80+ degrees. Hope to see you at the VICL Spring Boat Show! We may even stop by and visit you again during the off-season as we explore more of the San Francisco Area.

S/V Felicia: Chris and Julie Bennett - Owners/Crew

Good to hear from you, Jim! We enjoyed your article on Tuscany two weeks ago. It was very reminiscent of where we live in France during the off-season - but on a much grander scale of course. Just beautiful - would love to see the hotel some day, when we’re done with our house and able to actually do some more serious exploring in Italy and France.

2009 has been our transition year as we stepped up in size and scale with our new catamaran Felicia. We had such a successful run on Blu Moon that has really served us with clients following us to our new charter vacation sailing vessel. We’re actually doing great given it is our first year with a new yacht. We have the reputation in the industry as one of the top crew and charter experiences for our guests, however our catamaran is somewhat unknown in the industry because it wasn’t actively chartered for the past several years.

With any business “stuff happens” that causes you to need to be light on your feet and make adjustments. We are having one of those moments. We are in the midst of an insurance claim with a boat that sailed into us with six cruise ship passengers on board. S/Y Felicia was actually on her mooring, we gone into town for supplies, and the other boat got itself wedged between our starboard hull and our mooring ball. Don’t ask me how they came to be sailing between the boats in 20+ knot winds (they picked the most two expensive boats in the anchorage to sail between that day)….I don’t know. So…we’re in a lift at the moment having the lifelines, stanchion and bowsprit repaired. We had to already turn away a charter last week because we couldn’t go out in that condition. Just hope we can get some relief from the insurance company. We “splashed” back in the water last Friday so we are very excited to get back into the action of the business we love so much - creating an extraordinary sailing vacation for cherished customers. Until next time…fair winds. Please keep in touch. We love your articles!

So, if you would like more information about one of the most unforgettable vacation experiences you will ever have in Paradise, contact me and I will be glad to send you the information you will need. I look forward to hearing from you.

By Ann Adenius of Signature Residences Worldwide

Emerald Monkey Eco Luxe Resort & Residences is one of the newest developments to be announced in the Caribbean. This one-of-a- kind development is located in the Archipelago region of Bocas del Toro, in the Caribbean Sea off the coast of Panama. The development has been designed to be the first luxury “Zero Carbon Footprint Project” in the world.

 

You can’t help but to fall in love with the warm people and beautiful islands of the Archipelagos of Bocas del Toro. It’s one of the finest locations in the Caribbean. The islands offer a great diversity of breathtaking attractions including the amazing white sand beaches, magnificent coral reefs in crystal clear water, and magical mountainous rainforests.

Emerald Monkey sits on 80 acres of lush green foliage in tropical setting. Phase one includes 76 unique Balinese villas with indoor outdoor living. The villas are built in Bali by native craftsmen, and then disassembled and shipped to the island. Each villa boasts custom designed Balinese décor.



 

The residences are accompanied with five-star amenities. These include the “Banjar” Village which is filled with antique Balinese shops, two saltwater pools, spectacular coral reef diving, a world class anti-ageing rejuvenation Spa, two beaches, a sunken Bali village for snorkelling, two miles of walking trails, family activities center, on site restaurants, and even a meditation temple to watch the sun rise and set.

The developer is committed to build a luxury eco friendly community. Their inspiration came from the Balinese way of life that people should live at one with nature. Through use

of sustainable and renewable resources along with hydro-electric power, the team of Emerald Monkey will take its first step towards creating the first luxury “Zero Carbon Footprint Project”.

Construction has already started on Emerald Monkey, and the resort is scheduled for opening in summer 2010.

Villas start at mid $500’s to over $2.5 million.

For further information, contact Signature Residences Worldwide, www.signatureresidencesworldwide.com ,email info@signatureresidencesworldwide.com or call +44 20 7095 8703

By Jim Walberg of Caribbean Islands Realty

Buying your second or third homes are not just happening in the Caribbean. We have now discovered that many of our clients are buying in Italy, too.

Timbers Resorts, a leader in the emerging category of luxury, boutique resorts are completing the final work on beautifully restored and reconstructed farmhouse villas on 4,200 acres in the Tuscan region of Italy near Siena. For those who are wanting to enjoy the Tuscan lifestyle, Castello di Casole is a five-star luxury resort and residence club. These villas are being painstakingly restored and reconstructed to their original charm and further enhanced with modern amenities.

 

The Castello di Casole residences are organized around a series of glass-tiled, infinity-edge pools and hand-set stone patios complete with wood-burning ovens. Outside and in, one can trace the centuries across the hand-set loggias, terracotta vaulted ceilings and attention to exacting detail which makes each villa an individual expression of art and architecture. The farmhouse villas range from 3 to 5 bedrooms and include a private infinity-edged pool, with 4,000 to 7,000 square feet of living space. Furnishings are a collection of the finest interior appointments from local artisans and antiques gathered from throughout the region.

Located within easy access to Siena and Florence, this historic estate is also home to the 18th century Castello, opening in spring of 2010 as an intimate 41-suite, plus luxurious penthouse, hotel. Formal and casual dining venues, terraces, pools, artisan shops and a world-class spa and fitness center will be available for an Owner’s enjoyment

 

 

 

 

 

Some Of The Features and Benefits:

• Traditional Tuscan architecture and interiors
• Concierge team
• Airport transfers, private chefs and dining upon request
• Language and cooking classes
• Daily housekeeping
• Pre-arrival Grocery
• Extensive private trail system
• Guided regional day trips
• Grape and Olive harvesting
  

The pricing for fractional ownership starts at just over $300,000 for a 1/12 deeded interest. Your fractional purchase entitles you to three planned vacation weeks each year, plus usage as residences are available, and short notice vacation weeks. There are also whole ownerships available. Please contact me for further details. If you have an interest in owning a piece of Tuscany, this is a project you will want to seriously consider. Until next time…your lifestyle detective is on duty…

By Jim Walberg of Caribbean Island Realty

Who's Who in Luxury Real Estate International Conference - Paris, France. Day 3 - final two sessions

 

 

 

 

 

 

 

The last day of the Luxury Real Estate International - Paris Conference was focused on current and future technology critical to the international real estate community, and what are some concepts for exit strategies for selling a real estate company.

 

Victor Lund, one of the partners of the WAV Group, was the presenter on technology tools and trends. The research he did for this presentation was impressive. I would recommend you visit their website and learn more about the services they provide real estate companies around the world. I had several discussions with Victor and his fellow partners about how the success of Caribbean Islands Realty can even be expanded.

John Brian Losh was the facilitator for the last two sessions of the conference. The first session was about how one valuates a Brokerage, and if one is ready to retire or move on to a new adventure how can it be sold. There was a very lively discussion on this topic. Several of the comments from the participants were focused on they could not imagine retiring. There is something unique about owning a real estate company that allows one to serve clients as long as one is able and is still finding it a satisfying and profitable experience.

Mr. Losh wrapped up the conference with a time of reflecting on the profitable ideas that we will be taking back to our real estate businesses. There was a LONG list of ideas and tools that will be serving all of us in 2009. Some of my final thoughts from the Paris conference were:

• Some of my personal take aways from the Paris conference are focused on the extraordinary quality of the LRE members. Meeting new LRE friends and expanding friendships with those I already new was worth the price of admission.
• Each of us have unique businesses, and very specific local real estate markets in the as part of the Luxury Real Estate international membership. One can gather all the latest greatest “stuff” for our businesses, however the bottom line is it still is all about personal relationships. People do business with people they trust and actually enjoy working with.
• The ultimate power of the Luxury Real Estate network is still generally untapped. The more relationships we have within Who’s Who In Luxury Real Estate the more we are able to leverage our global real estate services and sell more properties.

From Australia to Poland, my real estate businesses have been expanded because of my participation in this important international conference in Paris. AND…did we have some amazing fun in Paris exploring restaurants, and even some fun cave vin bars. Actually, the fellowship time was where the long lasting effects of the Paris conference will benefit all of the delegates. My next adventure was to Geneva after Paris. Stay tuned…more to come.

By Jim Walberg of Caribbean Island Realty


Who's Who in Luxury Real Estate International Conference - Paris, France. Day 2 - all day seminars and networking opportunities


After Wednesday night’s cocktail reception and formal dinner, the real work of the Luxury Real Estate Paris Conference began. With delegates from 14 countries in attendance - from Australia to Poland, Day-2 of the conference focused on how we can expand our real estate company networks in order to create a more global presence in each of our local markets. The Hotel du Louvre was the perfect venue for the work of the conference. It was agreed by the delegates that the international members have barely scratched the surface of what is possible when all of us expand our sharing of information, experiences, and our luxury listings.

 

Day 2 of the Paris conference opened with John Brian Losh welcoming the delegates from 14 countries. What an impressive group of professionals who have come together to share their best ideas. The 60 delegates had the opportunity to introduce themselves and give a brief assessment as to the condition of their real estate markets given the world economic crisis. It was again a reminder that ALL real estate is local. We also had the chance to highlight one or two of our top listings that may be of interest to a room of Realtors from around the world.

Day 2: The first conference session was titled Your International Marketing Plan - Marketing Your Listings Abroard. Michael Audet from the WAV Group was the moderator, with myself - owner of Caribbean Islands Realty , Olivia Hsu Decker - owner of Decker Bullock Sotheby’s International Realty - California, USA, and John Brian Losh - founder and president of Who’s Who In Luxury Real Estate, Seattle, Washington, as the panel members. The second session of the conference was titled Developing Your Global Brand - Perspectives From International Companies. Marilyn Wilson from the WAV Group was the moderator, with myself, Ann Chiasson - owner of Sea to Sky Premier Properties - Whistler, Canada, and Ole Jespersen - owner of IRG International Realty Group, Portugal. Some of the highlights that were a part of the open discussion were;

• In the midst of the global economic crisis we need to change/adapt or die.
• Personal relationships are still the key to serving our customers at the highest levels.
• The Internet is merely the beginning of connecting to people - but it is THE critical tool to master given how people want to start a relationship with a Realtor.
• Make sure your business is leading with revenue regarding any financial decisions. Running out of money is why good businesses close their doors. Cash is KING.
• The business and marketing tools provided to the Luxury Real Estate membership are vast in order to assist all of us in the expansion of our businesses. The key is for each of us to understand what they are and then implement them.

The day ended with me having pages of notes, and a significant expansion of my professional and personal global network. It has already opened many new doors for the marketing of our Caribbean real estate projects. We then enthusiastically moved on to the nightlife of Paris. Until my next report…fair winds!

By Jim Walberg of Caribbean Islands Realty

I was invited to speak at the Luxury Real Estate International Conference in Paris this month. London was my first stop.

We are spoiled with 85F degree weather in the Caribbean almost 365 days a year! Europe in January is COLD. The Who’s Who In Luxury Real Estate’s 4^th Annual International Conference was this month in Paris, and I was invited to be one of the presenters. Before the conference I traveled to London for a few days visiting one of the ten families that make up my “European family”. It is amazing to step into the pace of Europe with London as the first stop. It is one fast paced city!

My time in London was generally walking this beautiful city - from Buckingham Palace and Hyde Park, to the museums and art galleries. Another reason why I was in London was to meet with one of the partners of Deloitte - an international consulting firm for the top corporations of the world. My friend is in charge of their international real estate division. My meeting was to gather information regarding his view of what is predicted for Caribbean real estate markets in the midst of the global financial meltdown. It was a very insightful hour with him.

What we are seeing the past six months in Caribbean real estate sales is an abrupt slow down in sales that require a mortgage. And, the European buyers have almost disappeared. If you recall the Russians started showing up last year in the Caribbean and they are no longer visible. The real estate product that is predicted to thrive is the Fractional Deeded Ownerships, and the Residence Club products. The HOT market is expected to continue in the Dominican Republic. It was very useful to have this conversation given that we have already noticed these trends.

No matter what the economic conditions in the world we will still figure out a way to make lemonade out of lemons regarding real estate sales. Until my next report…fair winds.

By George Damianos of Damianos Sotheby's International Realty. 

Just east of the Florida coastline lies the beautiful Island Nations of The Bahamas - a coral archipelago scattered over 700 miles of sparkling turquoise waters with 700 Islands and 2,000 Cays and Rocks.

With only 29 islands inhabited by a significant number of people, the Bahamas has a population of over 270,000 people, shared mostly among the major islands (New Providence, Grand Bahama, Abaco, Andros, Bimini, Cat Island, Eleuthera, Exuma, and Long Island).

New Providence - home to the 330 year-old capital city of Nassau, this busy little island (7miles wide by 21 miles long) is home to over half of the total population, and houses the majority of the countries businesses and banks. With all the conveniences of a major international city, this island is the financial and industrial hub of the Caribbean.

The Bahamas is one of the most politically stable in the region, with an uninterrupted parliamentary democracy in operation for 275 years, and its own government in place since 1973 when independence from Great Britain was granted. A member of the commonwealth, the Bahamas still recognizes the British monarch as the head of state.

In the Caribbean region, the Bahamas is one of, if not the most technologically advanced countries, offering state-of-the-art communications systems, electrical supplies, and water works. The country's main industry is tourism, with over 60% of revenues coming from tourism related activities. The second driving force behind the economy is banking and other financial services, followed by agriculture and fisheries, light manufacturing, and retail and wholesale distributives.

A direct flight from New York to Nassau is only 2 1/2 hours, and from Toronto, 3 hours. Direct flights are also available from London, Paris, Frankfurt, Newark, Atlanta, Miami, Charlotte, Fort Lauderdale, Los Angeles, Orlando, Montreal, San Juan and Kingston, Jamaica. Once in New Providence, The Nassau International Airport is just 20 minutes from downtown Nassau and Paradise Island.

The Bahamian Dollar, an independent monetary unit, controlled by the Central Bank of The Bahamas, is on par with the US Dollar, which is readily accepted throughout the country.

Americans will need a passport or birth certificate to enter the country; most other foreign nationals are required to have a passport/visa. For more information, contact the Bahamian consulate in Miami at (305) 373-6295.

There are no income, corporate, inheritance or capital gains taxes. The main form of taxation is import duties and government stamp taxes.