bahamas real estate market: Buying Bahamas Real Estate Just Got Cheaper!...2% Cheaper!
- 07/17/12 12:50 AM
It was 2 years ago when I posted about the Government of The Bahamas raising the cost of Stamp Duty (real estate transfer tax) by 2%. There was a significant outcry from the Bahamas real estate community as well as the general public! How could the government take an already fragile economy and increase the cost of settling real estate transactions!? Is real estate not one of the pillars of any economy? While there may have been a justification for such an increase it certainly didn't "stimulate" any positive movement in the Bahamas real estate sector. Although the increase was small … (0 comments)
bahamas real estate market: Did I Hear You Correctly? Don't List My House Now?
- 04/29/11 03:57 AM
One of life's greatest rewards is the ability to convert what you have learned into action. Like many real estate agents and brokers, I too was lured into the thought process of, "You never know, you may just get that one person who wants to buy that house, no matter what the price." Not being a gambler, I must admit that the odds game had eluded me until a little over a year ago. The Bahamas real estate industry is continuing to evolve and we are now in the 3rd year of having a MLS. Yes, you heard right, we've only … (20 comments)
bahamas real estate market: A Great Start to 2011 in The Bahamas!
- 02/09/11 06:43 AM
RE/MAX Paradise Realty 6 Village Road Nassau, Bahamas http://www.ParadiseBahamas.com 2011 Off To A Great Start! With real estate suffering the same fate as the other industries in The Bahamas over the last two years, the numbers for 2011 look really encouraging! The year ending 2010 showed a general increase of 5.5% in real estate transactions over the same period in 2009. As the industry began to settle in the second half of 2010, we saw prices come more into line with market expectations and the amount of transactions increased significantly. The most encouraging news is that real estate transactions for the … (0 comments)
bahamas real estate market: Hot Off the Press!! Great News for The Bahamas!!
- 10/06/10 07:12 AM
We've been patiently awaiting this news and it now appears that The Bahamas, it's people and it's economy, is poised for another major infusion of capital and an immensly powerful boost to the local economy! Baha Mar and ScotiaBank Syndicate Reach Settlement of Cable Beach Loan Creation of Premier World-Class Destination Resort Set to Commence upon Receipt of Bahamian Government Approvals Nassau, The Bahamas, October 6, 2010 – Baha Mar today reported that it and the ScotiaBank-led syndicate have reached agreement to settle all outstanding issues regarding the loan on the Cable Beach properties. With this settlement, the commencement of the … (0 comments)
bahamas real estate market: Looking on the "bright side" isn't always easy....but it is necessary!
- 07/29/10 02:47 AM
Shock waves were recently sent through the Bahamas real estate market when the government announced an across the board 2% increase in the Government Stamp Tax payable on real property conveyances (transfer of title). Not only were buyers and sellers jolted but the Realtors were screaming bloody murder, everyone left feeling like property purchases just got that much more difficult to achieve! I must say, I too was a little taken back when I heard the announcement and the news festered in me for a number of days......then the "light" came on. Short term memory loss isn't exclusive to certain substance … (1 comments)
bahamas real estate market: Short Sales in The Bahamas?.....Well, sort of.
- 06/28/10 03:39 AM
One of the many differences in the Bahamas real estate market, and perhaps the most glaring, is that "short sales" do not really exist in the same sense as in other parts of the world. Often times when owners are forced into a foreclosure the banks will handle selling off the property and rarely, if ever, do they employ Realtors to assist in this task. You see, the laws here protect the seller of the home to ensure that whatever equity the seller has built up in the property is protected. However, what do you do when you list a home … (2 comments)
bahamas real estate market: Appraisal or CMA? Which is most relevant?
- 06/08/10 05:47 AM
How many times have you heard on a pre-listing interview, "I've just had my house appraised", and just knew that you were in for an uphill climb? What most sellers don't quite understand is that an appraisal does not necessarily tell the whole story of value. Appraisals are primarily used to determine market value given consistent market conditions. If a seller is looking to purchase insurance, apply for a home equity loan or have a tax assessment done then the appraisal can be a useful tool. However, when determining how a particular home may compete in unusual market conditions there is … (0 comments)
bahamas real estate market: Timing is Everything....Especially in The Bahamas!
- 04/07/10 06:56 AM
While much of the investing world sits on the sidelines and waits for the real estate market to turn around, the opportunities for second home ownership in The Bahamas are really heating up! Activity for the first quarter of 2010 has surpassed all of our expectations and, as a result, many of the right priced properties are being bought creating a much more balanced supply and demand situation. The government really encourages foreign investment and the process is not as daunting as one may think. The first thing to do is find a quality real estate professional, someone with experience … (0 comments)
bahamas real estate market: Some Great News for The Bahamas Economy!
- 03/09/10 04:03 AM
Despite the ongoing pessimism regarding the global economic outlook, The Bahamas continues to get great news with the announcement of some very positive events! Firstly, the Minister of Tourism, Mr. Vincent Vanderpool-Wallace was quoted recently in The Nassau Guardian newspaper as saying, "In the middle of a recession, 2010 will see an increase of over 400,000 new airseats bringing a potential visitor spend of an additional $400 million compared to 2009," said Vanderpool-Wallace during debate on the government's mid-year budget in the Senate. "These new seats include non-stops to Exuma, to Abaco and to Eleuthera from the United States and Canada … (0 comments)
bahamas real estate market: The Bahamas Real Estate Market: Why we have survived!
- 02/16/10 04:46 AM
I am often approached by buyers, foreign and local alike, asking if the real estate market has suffered like that of our neighbours to the north. The answer is a resounding "Not even close!" Typically there is an uncomfortable silence on the other end of the line and then I begin to explain. The Bahamas real estate market is a very unique creature indeed! We are geographically close to the US and our government and currency are stable. We enjoy a year around climate that is sunny and warm and our islands and our people are equally as beautiful. Our banking … (1 comments)
It was 2 years ago when I posted about the Government of The Bahamas raising the cost of Stamp Duty (real estate transfer tax) by 2%. There was a significant outcry from the Bahamas real estate community as well as the general public! How could the government take an already fragile economy and increase the cost of settling real estate transactions!? Is real estate not one of the pillars of any economy? While there may have been a justification for such an increase it certainly didn't "stimulate" any positive movement in the Bahamas real estate sector. Although the increase was small … (0 comments)
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