In spite of the credit woes of major world markets, the Caribbean condo / fractional ownership markets continue to expand!

The news last Friday from the Wall Street Journal and the National Association of Realtors is the second home purchases last year represented almost a third of all home puchases, and the focus on those purchases were in the condo / fractional markets!  If you have been following my postings, you know my belief that the trend in Caribbean real estate is in the fractional deeded ownership world.  And, the great majority of those purchases are in the condo products.  There are seveal factors leading to this thriving segment of the real estate markets in the Caribbean.

1. Easy access of the purchase because of pricing and financing.  Many of the homes and villas in the Caribbean have priced themselves out of the reach of most consumers.
2. Location, location, location!!!  Developer of the condos and fractionals realize the intense interest in owning something in Paradise, so they are building them on a beach setting in the most beautiful part of the world.
3. NO maintenance other than making sure you care for the interior of the condo.  All outside maintenance and management is included in the price.
4. With the fractional condos, the product has created such an easy access appeal to consumers all over the world, that even the major luxury resort builders are recognizing the profitability for them to create and expand the product.
5. The incredible value of the world currency compared to the U.S. dollar.  Wouldn’t like to have your currency in Euros today - $1.61 per Euro?

If you are in the shoes of the developers, they are able to leverage their investment in the development and buildout of the condo / fractional markets because they are able to sell them at a higher per square foot price than with a single home.  For example the fractional market pricing allows developers to sometimes be able to triple their square foot price because the purchaser is willing to pay a premium so they do not have to own the condo by themselves.

Check out what the Ritz Carlton Residence Club is doing in the Dominican Republic if you want to notice the health of this aspect of the real estate markets in the Caribbean.  They announced last month THE largest Residence Club in their history of resort development in the Cana beach region.  From all reports, it appears to be their most luxurious project so far.  I have not reviewed the annual financial reports of the Marriott Corporation, but I would venture to guess the Residence Club division of the company is their #1 profit center.  So, where are the DEALS?  Here are just a few that I am very excited about for those who ask me this question from time to time;

1. Turks & Caicos - L’Emeraude Resort
2. Belize - South Beach Belize
3. Dominican Republic - Los Altos Residence Club
4. St. Lucia - Le Paradise Beach Resort
5. Bermuda - The Reef Club
6. St. Maarten - Pelican Marina Residence Resort
7. Cayman Islands - The Waterford Private Residence Club
8. St. Thomas, USVI - Ritz Carlton Residence Club

There are several other favorites, too.  If you want my expanded list, contact me and I will share it with you.  For those who are interested in condo / fractional real estate ownership, this is the time to purchase!  I have never seen anything like it in the Caribbean before.  Until next time…your Caribbean lifestyle detective remains on duty!

With just over 1,000 members from 60 countries, this is THE organization to find and market your luxury properties!  Jim Walberg and Ann Marie Nugent are members of this select group of professionals

Last week at the Grand Del Mar in San Diego, California, the Who’s Who In Luxury Real Estate produced their Spring Conference where they highlighted the latest technology to be used by both the Broker/Realtors and the consumers in the global real estate markets.  Jim Walberg and Ann Marie Nugent were part of this exclusive group of 240 participants from all over the world sharing their best practices in serving the needs of their international clientele.  One of the important breakout sessions I attended was facilitated by Pat Hoferkamp - President of Burgdorff Realtors headquartered in New Jersey.  She presented the mission / vision of her company and reviewed the best practices they use in creating a luxury experience for both their Realtors and their customers.  It was worth every moment of the session.  An added feature of the conference was having Ben Stein as the keynote speaker on Thursday night. ( You know, the world famous writer, director, and actor.  His comments about the importance of owning real estate was actually compelling to the point of him getting a standing ovation.  In addition, he was darn funny.)

Who’s Who In Luxury Real Estate was founded by John Brian Losh almost 20 years ago.  He had a vision of gathering the best Broker / Realtors in the world into one organization in order to create a synergy in the luxury real estate markets worldwide.  Each selected member has been recognized as a leader in the marketing of distinctive and luxury properties, committed to high performance, professionalism and quality service.  The members are truly the “Who’s Who In Luxury Real Estate!  Not only has Mr. Losh succeeded, but today it is the dominant luxury real estate network in the world!

Mr. Losh commented, “As I interview brokers and work with organizations through my consulting services, I continue to be profoundly impressed by the quality and integrity of the people represented in Luxury Real Estate. I am pleased to see a steady increase in the use of our logo in print advertising, and our 50% growth over the past year. Each year we set high goals and work diligently to improve the network in every way.  I am confident that doing business with any one of our Broker/Realtors would be a delightful and rewarding experience.”

He also said, “Each year I travel to all sections of the United States; the villages of New England, the resorts and cities of the East Coast, the great state of Texas and the Gulf, the deserts of the Southwest, the grandeur of the Rockies and America’s heartland, and this year to Europe and Asia. As a result of this effort, we have added many excellent firms from all over the world.”

By the way, the Grand Del Mar has created a breathtaking resort!  It is San Diego’s newest 5- star resort destination. From its Tom Fazio-designed golf course and The Villas, to a luxurious spa and award-winning dining, The Grand Del Mar delivers a world-class resort experience.  This is a must resort for those seeking the BEST level of service and amenities I have found in California.  I promise you will be hearing more about the developments of the Luxury Real Estate’s world wide expansion of members and luxury property opportunities.  Until then…

The Westin St. John has announced its newest phase of fractional villas, and the Ritz continues it’s gorgeous expansion, too!

Our offices are just across the bay from St. John, at Red Hook, St. Thomas. So, we are fortunate to be able to catch the St. John Ferry from American Yacht Harbor any day we want to visit this treasure of a National Park.  On St. John, the Westin St. John Resort & Villas is opening their newest opportunity of fractional ownership with the Bay Vista phase overlooking Great Cruz Bay, and is expanding the ownership opportunities at one of the most popular resorts in the Caribbean. ( You do remember my other top Caribbean Islands from past postings, don’t you? )

This newest phase includes 54 units - 22 two-bedroom, eight two-bedroom lofts, and 24 three-bedrooms. Some of the highlights of the Westin - St. John are; a beautiful pool overlooking the Caribbean with a really fun pool bar; waterslide and Jacuzzi; a fabulous spa facility; a kids club; grocery store/market; tennis facilities; plus, several great restaurants. The actual condos have; stunning views of the Caribbean; a washer/dryer; balcony; flat screen TV, DVD, Hi-speed wireless internet; oven; microwave; and a dishwasher.

“St. John is one of our most popular destinations in the Caribbean, and this resort is considered one of the most beautiful mixed-use resorts in the region,” said Sergio Rivera, president, real estate development, Starwood Hotels & Resorts Worldwide. “This resort has among the strongest demand for owners, and we are excited to add another 54 luxury villas in this spectacular setting.”  The plan is for them to add an additional 1,600 new villas at their U.S., Hawaii, Mexico, and the Caribbean. Starwood Vacation Ownership will have more than 6,000 villas in total upon the final completion of the announced resorts.In addition to what the Westin St. John is doing with their expansion, the Ritz Carlton Residence Club at Red Hook, St. Thomas is also in the midst of expanding their 5-star Residence resort on one of the many beautiful Caribbean beaches.  Remember, deeded fractional ownership of a Club Residence can cost millions of dollars less than owning a traditional second home directly on the beach.

Ritz-Carlton Club Membership prices currently range from $144,000 to $530,000 per interest, based on location and residence type. The Ritz Residence Clubs truly deliver one of the best second home experiences you could ever imagine. We have stayed at the one on St. Thomas many times and we always feel very pampered before or after a sailing adventure.  Also, they have Clubs in the U.S., and Hawaii.  So, contact us regarding either of these fractional deeded ownership opportunities - St. John Westin, and St. Thomas Ritz Carlton.  And, don’t forget your sun screen.  It is around 85 degrees down here everyday. Until next time… I am off to Barbados to check out the Crane Resort.  I will report back.

South Beach - Belize is perfectly positioned for the explosion happening with European investors in the Caribbean!

Article By Poyel Nelson:  “The headline on the International Living Magazine in December 2007 is straight forward: ‘Belize: Buy Before The Europeans!’ (Remember my last posting about South Beach - Belize?) Amongst the financial crises triggered by the real estate market woos in the US caution is advisable over such a bullish statement. So, what are the reasons for such a headline?

“Direct flights from Europe to Belize City will be launched by late 2008. This is major news for Belize and its real estate market. Europeans, armed with their strong currency, will most likely start to travel to this English speaking country in greater numbers. Transit though the U.S will no longer be required for European visitors. They will come for the classic Caribbean experience, the world class diving, the jungles and rainforests, the Mayan ruins, the waterfalls and rivers. And some will want to stay or retire here; hence real estate dollars are likely to follow close behind.

“We could observe this effect of new flight routes on real estate markets before. Wherever Ryanair (Ryaniar is a major European low cost airline) has started flying, the Irish and the British have followed and real estate markets have prospered. This is now called the ‘Ryanair effect’.  Rumor has it that direct flights to Belize from Canada might also start soon. Real estate is all about timing and right now could be the time to focus in on this stunning country in the Caribbean. Property prices are still well below regional benchmarks. Let’s look at some of Belize’s characteristics to further elaborate whether the above proposed demand really is valid:

“The Belize River flows through the middle of the country. With a Caribbean coastline, the Belize Barrier Reef and the Maya Mountains, there is a diverse countryside with plenty of outdoor recreation. The longest living barrier reef in the western hemisphere, and the second longest in the world, attracts divers from all around the world to Belize. This Central American country is a former British Colony also known as British Honduras and has adopted English as native language. It is considered one of the most stable Caribbean governments with a Parliament as their ruling body. Retirees in Belize can apply for a special status that provides tax breaks on retirement income and extends easy import of household items and furnishings.

“Belize has the lowest population density in the Central American Region, and one of the lowest in the world. There is room for many people in Belize.  Adding to Belize’s attractions is the cultural and ethnic diversity. There appears to be almost no friction between the harmoniously blended cultures and races. Belize is home to a wide range of ethnicities including Mennonites, Chinese, Mayan, Spanish, Lebanese, and East Indian. Culture, economy and geography make Belize a desirable place to live. With this Caribbean country becoming more accessible through air travel it seems to be positioned well for significant growth in its economy, in general travel, and eventually, its real estate market.

Poyel Nelson certainly supports our interest in South Beach Belize.  Remember, pre-construction prices are well below regional markets with lots starting at USD$99,950 to USD$6,913,000 for 36-unit boutique hotel/restaurants. This may be the project to act upon NOW. I will keep you posted as I continue my real estate detective work in the Caribbean.  Contact me anytime.  Until next time…

Remember, Belize is part a vital part of the Caribbean tourist industry, and it is breathtaking!

In the SCUBA diving community, Belize is world renown for its dazzling array diving opportunities along the second largest reef in the world.  In the resort community, Belize is one of the true bargains in the Caribbean because of it’s white coral sand beaches, fabulous five-star resorts, and 365 days a year of Tropical climate! It is also the only English speaking country in Central America. It was originally one of the British Crown Colonies in the Caribbean.

he BIG deal that is unfolding in Belize is the recreation of South Beach, Florida’s art deco era in the 1950’s. South Beach Belize on Ambergris Caye is where it is happening.  This is an 800+ acre planned development on the southern tip of Ambergris Caye. One of my real estate friends is leading the marketing efforts for this project that is just breaking ground - Dr. Tom McPeak. Here is his latest report as to why all of us should take a moment and check it out.

From Dr.McPeak:  Have you noticed how private island resorts and private island ownership are experiencing global rise in popularity? With the world currency buying any USD properties at bargain basement prices, they are following the sun, and Belize is one of the top five destinations in the Caribbean they are focused upon.  We are very fortunate to be a part of the most exciting resort opportunity in the history of Belize.  South Beach Belize is approximately 800 acres on the southern end of 25-mile long Ambergris Caye.  Archeological evidence indicates it may have been inhabited at one time by 10,000 Maya people, and was important as a mixed fishing and trading center.   Today Ambergris Caye has a population of about 8,000 with 7,000 living in San Pedro, just 3.5 miles north of South Beach Belize.  It has become internationally known as a salt water sport fishing destination, in addition to diving and snorkeling.  South Beach Belize on Ambergris Caye is just an additional 17 minutes flight via either of two local airlines, or 75 minutes via water taxi.  As the crow flies, it is about 29 miles from Belize City to Ambergris Caye.  What is being discovered with the buyers of Caribbean real estate is their in wanting exclusivity and privacy, and they are willing to pay for it.  This is one of the many reasons the world is coming to South Beach Belize.

The blue Caribbean Sea, sandy beaches, and waving palms are as beautiful on Ambergris Caye as any other Caribbean country destinations that cost two to three times as much for a 5-star resort, or purchasing real estate.  It is also located on the second largest barrier reef system in the world.  That is why South Beach Belize on Ambergris Caye might be one of the most intelligent places to buy TODAY.  The real estate opportunities are extensive and very affordable:  Lots for any size Villa you want to build (hold for investment until ready to build),   Condos starting at $139,900, six models of Villas starting at $199,900 INCLUDING THE LOT, or even a complete turn-key Boutique Hotel (thirty hotels are planned in the style of South Beach Miami) for just under $7 million USD each.  You own and manage the hotel and gain the revenue from all aspects of the hotel and restaurant/bar that is a part of the package.  There is even an opportunity to be considered as one of the partners in the development of the elegant Casino that will be built as part of this planned luxury community. The development team at South Beach Belize is standing ready to be a resource for having your Tropical dreams come true - as a second home, or for full time living.  Caribbean Islands Realty and Jim Walberg are standing ready to serve any off your inquiries or purchases of this unique and special real estate opportunity.  Contact him today for more information!

If you want the best vacation experience of your life, book a crewed chartered sailing adventure in the Caribbean

You will recall that I have been sailing in the Caribbean for over 30 years. Because of those years of sailing I have met some of the most unfogettable people I know - Dougy the head of cabbies at Beef Island Airport; Foxy the owner of Foxy’s on Jost Van Dyke; Mick the bartender at Soggy Dollar Bar; Liz the owner of Duffy’s Love Shack; a Danish couple who had been sailing for over five years with two of their three kids being born on their boat; Baby Bull Rhymer who ripped me off at Cane Garden Bay; Captain Whitey of the catamaran Tamarin; Ustis from Dominica who is the best dancer I have ever met. (He enjoyed dancing with each of our women guests at Quito Rymers; Quito Rhymers, the famous Caribbean “Jimmy Buffet”; Dick at CharterPort; and hundreds more!!! And…whenever and wherever I am sailing in the Caribbean it is always unforgettable!

You also recall that my last ”crew” was made up of seven guests who had never sailed in the Caribbean, nor had they been on a crewed chartered yacht.  Each of them are world travelers and they said it was the BEST adventure they had ever had!  The catamaran’s are currently my favorite choice if you have a group of guests who are unfamiliar with the sailing scene.  However, when I want the pure pleasure of sailing my preferrence is the traditional mono-hull. Our sailing adventure last month was again on “Double Feature”, the Lagoon 57 crewed by Captain Jonny and 1st Mate/Chef Kelly.  My mono-hull of choice this year is Three Moons - an Irwin 72 crewed by Captain Randy, Chef Shelley, and 1st Mate Katy. They also deliver an amazing experience for each of their guests aboard Three Moons.

The reason why it is called an adventure is because you have no idea what will unfold between the moment of your launch and the moment you drop anchor at your final desitnation of the voyage. All of the STUFF that happens in between is the reason why I can’t wait to launch on any sailing adventure. I eat up the STUFF in between! Some of the ”moments” that happen are unforgettable.  Some of those ”moments” are hopefully forgotten quickly. ( Remember my comments months ago about dancing with a goat at Foxy’s?) Well, last month I ended up at The Last Resort with my guests and was swept away with the music and the rum that ended up having me as the back-up singer for the BAND! Most of the moments that need to be forgotten usually happen late at night after some Meyer’s Dark Rum and Caribe beer chasers. With that combination, anything can happen…and usually does.

Back to sailing…that is the real deal in the Caribbean. I am at my “spiritual center” when I am under sail, and with any job that is assigned to me. I have captained my share of sailboats, but I have also been the chef on many boat deliveries, and even been as lowly as a 4th Mate whose job is typically clearing out a clogged head - one of the worst jobs on the boat.  There is nothing like the feeling of the helm in your hands as you steer your course to your next anchorage. The expected activities during any voyage includes; SCUBA, snorkeling, water skiing, wake boarding, kayaking, daily gourmet moments, great beverages because thirst is a dangerous thing, reading, napping, sunning with various degrees of clothing, and even the occasional squals.  Are you getting a better idea as to why I can’t wait to step aboard my next sailboat going to who knows where? Contact me and I promise to set up this type of experience for you, your family and friends.  I am such a fan of this experience that I secured by charter yacht brokerage license in 1997 and I have arranged hundreds of sailing adventures.  Until next time.  Fair winds.

  Le Paradise Beach Resort - St. Lucia, and Los Altos Residence Club - Dominican Republic are awesome fractional residence choices!!!

So, I am back on the road looking for more fractional ownership and real estate opportunities in the Caribbean.  Two that just showed up on the radar are Le Paradise Beach Resort in St. Lucia and the Los Altos Residence Club in the Dominican Republic.  If you recall from past postings, St. Lucia was named as one of the “Top Five Places To See In Your Life Time” by O Magazine.

The Le Paradise Beach Resort is a ¼ fractional ownership condominium opportunity.  WOW! They are creating a five-star luxury community on St. Lucia with a completion date of this $1 billion development in December 2008 for Phase One.  It will also include a Greg Norman Signature Golf course, a yacht marina - which I obviously will love.  In addition they are building an International shopping village, a gorgeous European spa and fitness center.  Le Paradis Resort has miles of private beaches, great diving spots, plus sport fishing - all as part of this luxury community.

Each quarter-share fractional condo is a spacious 2-bedroom / 2-bath residence including a gourmet kitchen, designer interiors, plasma televisions, high speed internet, central security and life safety systems and Westin beds. The architecture will be reminiscent of the island’s colonial past with a mix of Anglo-French Caribbean tones.  Those that are wise enough to purchase any of the condos in Phase One will also have their golf initiation membership cost waived, plus they will receive two years of golf dues paid.  Amazingly, the St. Lucia government has issued a 10-year property tax waiver for this project’s Buyers!!!  The developers are pulling out all the stops to entice you to check it out.  The prices are yet to be published but full ownership of these luxury condos ranges from $450,000 to $1,300,000!

Los Altos Private Residence Club is a part of the Casa de Campo ocean front 7,000 acre, world class resort.  Casa de Campo won the “#1 Family Friendly Resort In The Caribbean” from Travel & Leisure, and “#1 Golf Course In The Caribbean” from the same magazine. The residence club consists of 116 2-bedroom and 3-bedroom luxury condominiums. I discovered that it has already become the fastest selling Private Residence Club in the Dominican Republic! They have been open for business since December 2007! Don’t wait to check it out.

Los Altos Private Residence Club enjoys the amenities of this world class resort; beaches, sailing, golf, tennis, equestrian facilities, spa and massage facilities, poolside lounges, deep sea fishing, and much more! Each of the residences are decorated with an Asian-style influence with wood, stone, metal and water treatments.  They have soaring 10 foot ceilings, and 20 foot vaulted ceilings in the penthouses, plus the oversized terraces with breathtaking views.  These fractional condos start at around $200,000 for a 1/8 fractional ownership! So, these are the two latest discoveries I am bringing to you.  For more information, email me or leave a comment. I will get back to you.  Until next time…I continue to be on duty as I comb the Caribbean for the best real estate opportunities in Paradise.