St. Thomas, USVI is the location, and the former Preserve At Botany Bay is the spot!

Caribbean fractionals  continue to be THE real estate choice of thousands of Caribbean buyers. Last week David Burden - founder and CEO of Timbers Resorts  announced that the ultra-luxury resort located on the western tip of St. Thomas will be managed by the international hospitality management group - Jumeirah Group,  which is a member of Dubai Holding.  This announcement was made at the signing ceremony with Gerald Lawless, Executive Chairman of Jumeirah. ( Remember my past article about the Virgin Islands  fractional market? )

“We selected Jumeirah as the ideal hotel company to partner with at this unprecedented resort on the secluded western tip of St. Thomas,” remarked David Burden. “Based on their internationally renowned hotel experience in luxury service, they will be a perfect match for our discerning owners and resort guests.”

Jumeirah Botany Bay Resort is one of the true world-class luxury resort which includes mash potato sand beaches, private coves to explore, a protected coral reefs and a nature conservancy, ultra-fine dining, a beach club as well as a Talise Wellness spa.

Jumeirah Group will manage the five-star luxury hotel of 84 rooms, spread over nine tropical buildings in a very secluded setting on St. Thomas’ western shores. It is scheduled to open in 2011, the 400-acre resort will also include 30 fractional residences, 30 whole ownership villas and 20 grand estates. These full-service residences will be managed by Jumeirah Living, combining the luxury of a prestige hotel with all the privacy and comforts of your home away from home.

Jumeirah Group is also in the midst of ultra-luxury resort developments in Phuket, Shanghai, Argentina, Mallorca, London, Dubai, Abu Dhabi, Doha and Jordan, among others.  “We are impressed by Timbers Resorts’ commitment to responsible development and the care with which they intend to develop this protected enclave,” said Gerald Lawless, Executive Chairman of the Jumeirah Group. “With its secluded location in a tropical environment, the Jumeirah Botany Bay Resort will be true to our “STAY DIFFERENT” promise.”

Timbers Resorts is a world class developer that we have enjoyed working with in serving our client’s needs.  The Timbers Collection is a group of small, private, luxury resort properties in the world’s most sought-after ski, golf, beach and scenic countryside locations.  They include One Steamboat Place in Steamboat Springs, Colorado;  Botany Bay Resort on St. Thomas in the USVI;  Castello di Casole in Tuscany, Italy;  The Rocks Luxury Residence Club in Scottsdale, Arizona;  Esperanza Resort in Cabo San Lucas, Mexico;  The Timbers Club in Snowmass, Colorado;  and there latest is The Orchard at The Carneros Inn in Napa Valley.

For further information regarding Botany Bay Resort, or any other of the Jumeirah and Timbers Collection, contact me today!   We are standing ready to serve any of your luxury real estate needs around the world!   I look forward to speaking with you soon.

In the midst of the biggest financial meltdown since the 1930s some hard questions are being asked of Jim Walberg this week.

My email box  is overflowing and the phone has been ringing off the hook.  The people who have an interest in the Caribbean real estate markets are afraid.  They are asking some very hard questions that need to be immediately addressed by our Federal government as to how a further financial collapse can be averted.  You may recall my past article about the mantra of a sailor as they set off on a voyage - Do Not Be Fearful!   Well, it is a challenge to get to that place when the walls or the U.S. financial structure seem to crumbling down before our very eyes.   There is no getting around the fact it is a historical financial mess.  My focus is to always get to “what is” as fast as possible, and start making lemonade out of the truck load of lemons that has just been dumped on our front porch.

When I want some well thought out ideas on National financial issues I call my Realtor friend in Naples, Florida.  His name is Mike Lissack.  He is one of the smartest financial minds that I know.  He came to real estate from a long and successful career on Wall Street where he was named by Worth Magazine as one of “Wall Street’s 25 Smartest Players”,  and is one of the top 100 Americans who have influenced “how we think about money.”  Before he retired from money management he directed more than $25 billion of investments, supervised their financial reporting, and assisted in the design of their risk management and investment operations.

So, we have been corresponding about the financial meltdown that is surrounding all of us.  He has some pretty interesting ideas as to what he would do if he was in charge of the direction our Nation takes next regarding making sure these events never happen again.  I felt it was important for you to also review what he has been proposing to me.  Here is his latest thoughts given the events of the last few days.  Mike’s view on the financial solutions of our current crisis is we need someone in our government to take proactive action NOW!  Here are some more of his suggestions for your consideration, and those of my Caribbean friends asking some very hard questions:

Now that all of Americans again “own” another financial institution because a bailout was required - AIG, and the Feds have stepped in and are claiming they will finally fix the financial mess that our country finds itself in, there are further urgent steps that are needed now:

1)  Remove the FDIC cap or raise it to $250k  (we do not need any runs on the bank)

2)  Nationalize the rating agencies  — they do not do their assigned task - they rated junk bonds “AAA”, and then their reversals of these ratings led to the present financial meltdown.  Ratings are a utility which needs to be performed by competitive institutions who answer to investors not issuers and NOT bankers.

3)  Establish a “swaps” clearinghouse and prohibit implicit leverage on “swaps” by legislating that no position can be swapped or hedged more than once without a prior trade being offset.

4)  Prohibit “third order and higher” derivatives.  There is an underlying transaction, it spans derivatives.  Then there are derivatives which rearrange the first set of derivatives.  At that point, enough is enough!!!  The system cannot deal adequately with the complexities of continuing to dilute and issue more derivatives using the same bundle of “AAA bonds” that are actually junk.

5)  Write down 90% of current appraised value guarantee on Fannie and Freddie Mortgages.

6)  Announce a national shared equity appreciation fund into which the excess of the 90% of current appraised value loans can be dumped.

This is a summary of his second round of suggestions for me to consider.  His first email addressed the Fannie Mae and Freddie Mac mess.  Let me know your thoughts.  Also, if you want to contact him directly, go to www.Lissack.com .  We will always figure out a way to make lemonade out of lemons with this financial mess.  Do you know why?  BECAUSE WE DON’T HAVE A CHOICE!  Until next time…fair winds to you in the midst of a BIG storm!!!

Viscape University has invited renown bloggers Jim Walberg and Jim Cronin as the seminar’s moderators.  Blog = A citizen journalist writing about things they are noticing or personally experiencing and sharing those with the world through the internet.

Viscape  is the world’s first social marketplace to rent or buy vacation properties on-line!  Because it is a social network focused on vacation destinations they also provide a forum for world travelers to share their stories and resources.  One of the services they provide their Internet social marketplace is Viscape University.  This is their education division that focuses on practical topics for world travelers who are interested in rentals and vacation property purchases.  On October 6^th at 9PM EST they are hosting another one hour seminar.  The topic is Blogging and how it can be THE tool one uses to connect to a social network, but specifically how to use it as an additional profitable marketing tool for your business.

Because of the success of CaribbeanIslandsRealty.com, and RealEstateTomato.com’s blog sites,  Viscape has arranged for the owners of these businesses to be the moderators of a one hour teleconference on this topic.  Jim Cronin and I will be the contributors as we share our experience of how blogging can be the most effective tool possible to connect with people who are looking for the services you are providing.

Jim Cronin’s internet site - RealEstateTomato.com, is built to be a “hub” to assist the real estate community to better understand how to embrace blogging as the center of their marketing efforts.  He recently created “Tomoto University”,  An education and training center for bloggers - from novice to those who are at the top of their game want to go even higher.  Jim moved to California in the mid 90’s as the Senior Internet Marketing Consultant for Z57 Inc. from 2000 - 2006.  He then had the idea of creating a method where he could share his incredible strategies regarding blogging as a marketing profit center for real estate businesses, and RealEstateTomato.com was launched.  Jim has helped thousands of Realtors gain a superior Internet presence by using the tool of blogging on their websites.

No matter if you have been checking out my CaribbeanIslandsRealty.com  site for the last two years, or you just found us, we have become the real estate resource center for the Caribbean, with thousands of visitors from 16 different countries around the world using our services.  And, our readership continues to grow daily.  Our blog site has also evolved into being your Caribbean lifestyle information center with ME - for better or worse,  as your on-site detective letting you know about my favorite stuff to do in Paradise.  Not only is CaribbeanIslandsRealty.com a resource center for Caribbean real estate, we also assist those who want to purchase a piece of their Caribbean paradise.  We represent real estate opportunities from Aruba to the British Virgin Islands.

So…if you want to discover the rules and strategies of blogging as a very profitable marketing tool for your business - whether it is for real estate or for any enterprise, check out this FREE teleconference on October 6^th.   RSVP to RSVP@viscape.com  by October 3rd in order to get the call-in information.  Also, you can start posting your questions  that you would like Jim and I to addressing during your time together with us on the teleconference.  Contact me  if you have further questions about this exciting event.  Until next time…I remain your Caribbean lifestyle detective!

After 20+ separate charters yacht vacations each season, a charter crew needs a break…and they take one every Summer up until November 1st!

I let you know in past articles  that owning and operating a charter yacht vacation business is not just having fun and sailing around the Caribbean.  It is a BIG business.  It is BIG work!  And, it is not for the faint of heart!  Imagine owning a bed and breakfast in the Caribbean, except that it is a boat!  If something breaks there is no one to call except your personal skills in fixing it; generators, ice makers, electrical, plugged plumbing, air conditioning break downs, sheets and sail issues, and on and on.  Are you getting the picture that is not just sailing in Paradise and keeping sun screen on?  The “job” of a charter yacht owner/crew is to produce an extraordinary tropical yacht vacation experience for every guest…for every week of charters.  And, if that is not delivered to their charter guests they will not have a “Caribbean floating bed and breakfast” business for very long.

So, in spite of what I have just described, there is a small community of charter yacht owners who would not change one bit of their lives.  They are some of the most professional and competent business owners you will ever meet.  They are the consummate problem solvers every day without their guests ever knowing there may be something wrong.  They deliver four to five 5-Star dining experiences a day!  Every water toy you can imagine is on the yacht - from water skiing, kayaking, snorkeling, wind su rfing, etc.  And, they know every special anchorage in the Caribbean so when the anchor is dropped for the night you will witness a brand new spectacular sunset every evening while you are being served you favorite cocktails.  ( If you think I am over stating the experience one has on a charter yacht vacation, it is because you have been yet.  It is the most unforgettable vacation experience I have ever had - 40 years of sailing in the Caribbean has not dampened my love for this amazing part of the world.)

Two of the “Rock Stars” of the Caribbean charter industry are Randy and Shelly Tucker.  I had the chance to work with Shelly at last year’s VICL Boat Show  at Yacht Haven Grande  in Charlotte Amalie, St. Thomas.  They own the Irwin 72′ Three Moons - one of my favorite mono-hulls especially built for the Caribbean.  Randy and Shelly are legendary in the Caribbean charter industry because of the consistently exceptional experience they deliver to their clients.  Almost 90% clients are repeat or referral clients.  Here is a quote from Randy and Shelly that truly communicates what is awaiting you for a Caribbean charter yacht vacation, “Comfort, relaxation, and award-winning cuisine are yours sailing aboard our handsome 72 foot yacht throughout  an exquisitely inviting Caribbean playground…the U.S. and British Virgin Islands.”   Because of the cuisine experience that Shelly delivers to their customers everyday, Crew Life Magazine printed a feature story on this award-winning chef.  Shelly has also published the very successful “Three Moons Island Cookbook” - in its third edition!

I had the pleasure of hosting Randy and Shelly at our San Francisco Bay Area home this week during their off-charter adventures.  This was their first visit to one of my top five favorite cities in the world.  Yesterday they had fresh Dungeness crab at the Waterfront Restaurant  on the Embarcadero.  They walked their “deck shoes”  off exploring this magical City.  They stopped by a few days after attending a family wedding in Cabo, Mexico. ( If you look closely at the photo of the catamaran you will see them with very BIG smiles - even though they are not fans of multi-hull yachts.)  During their stay as OUR “charter guests”,  it was such a pleasure to deliver the best we had for every meal, and even dipping into our wine cellar sharing our favorite wines.  ( We also had one night that started out with Belevedre martinis, some BIG reds, and topped off with some amazing Tawny Port for the Sierra foothills - Indian Rock Vineyards.)  I look forward to all of you having the opportunity of booking a charter yacht vacation in the Caribbean.  It will change your life - and that is not an overstatement.  Email me  and I will be your guide in setting up an unforgettable sailing adventure.  Until next time….fair winds!

American Airlines as agreed to restore flights this Winter San Juan and St. Thomas!

You recall from a past article  about the “Hurricane” that was coming to the Caribbean the first week of September.  That pending disaster was having American Airlines cancel almost 40% of their Winter flight schedules to St. Thomas  and San Juan, Puerto Rico.  It would be have been devastating to the tourist industry of the Caribbean, since the “high” tourist season is about to begin the end of next month.  Well, the disaster has been averted because of the hard work of the V.I. Tourism Commissioner Beverly Nicholson-Doty  and Gov. deJongh’s Public/Private Sector Airline Committee.,

Last month, Ms. Nicholson-Doty and the Airline Committee from the USVI flew to Miami to personally explain to American Airlines  senior vice president for the Caribbean and Latin America regions to reconsider.  They met with Peter Dolora with the intention of not leaving the meeting until American Airlines renewed their commitment to reinstate the Winter flights to the Caribbean.

 American’s once-a-day flight between Miami and St. Croix will begin again on November 2^nd.  The daily flight between New York’s JFK Airport and St. Thomas will resume November 20^th, and a second flight will be added on Fridays starting December 18^th.  American’s flight between Boston and St. Thomas will run on a twice-weekly schedule starting November 2^nd, and on December 18^th, it will be back flying five days a week. 

There is a piece of the transportation puzzle to the Caribbean that has yet to be solved with American Airlines that is troublesome.  American Airlines’ inter-island connecting flights served by American Eagle, WILL NOT continue it’s flights from San Juan to the USVI!  “We are looking at various options,” Nicholson-Doty said, declining to be specific because of ongoing negotiations. So, three weeks ago American Eagle cut its eight daily flights between St. Thomas and San Juan to only three, and there is no agreement if the American Eagle flight schedule will ever re-instate the five flights they are abandoning.  American Eagle is also eliminating five of its eight daily flights between San Juan and St. Croix.  Again, it is a very difficult situation for the USVI and the Caribbean, because there was an increase in tourist visits to the Caribbean the past twelve months, and now American Airlines is faced with the realities that their business model still cannot make a profit, even with the increased numbers of passengers from last year!  Oil prices  are still a critical issue for all of the airlines.

The USVI Tourism Department is “putting its money where its mouth is” by investing $1.5 million of its money into partnering with American, Delta and, “to a lesser degree,” Spirit Airlines to advertise the territory and the airlines!  This is BIG news! The USVI knows that it is a win/win if they can drive more traffic to these airlines in order to keep these routes as full as possible - even though they have cut back many of their flights.  Their ads include radio and newspaper advertisements, billboards and airport signage. Additionally, in Atlanta buses were wrapped with ads touting the U.S. Virgin Islands and a tag line to call Delta Vacations.

In return for the USVI advertising investment, Nicholson-Doty said, the airlines provided complimentary airplane seats for travel agents, travel writers and sweepstakes winners. One of the target cities for this ad program is Charlotte, North Carolina. “The USVI Tourism Board is spending $375,000 to advertise St. Croix in radio, newspaper and Internet ads,”  Nicholson-Doty said. U.S. Airways flies to St. Croix from Charlotte on Saturdays. “The ad campaign encourages early bookings to the USVI,” Nicholson-Doty said.  Some of the other airlines thinking of serving the Caribbean have contacted the USVI Tourism Board seeking revenue guarantees, but Nicholson-Doty stated, “The USVI could be paying for empty seats, and we are only developing marketing relationships that are a win/win for both sides.”  Another Hurricane has been averted by the foresight and determination of the current USVI administration to face the issues head-on and find solutions.  So, those of you who were worried about how you were going to get to your favorite spot in Paradise - have a rum punch at Duffy’s Love Shack  in Red Hook instead.  Until next time…your Caribbean lifestyle reporter  remains on duty!!!

Hurricanes Gustaf, Hanna, and Ike are three in a row that have severally impacted the Caribbean and the Turks & Caicos!

Many of you have visited the Turks & Caicos for an unforgettable tropical vacation.  We even represent several luxury resort projects on these beautiful islands - L’Emeraude being one of them on Grand Turks.  The benefit of a hurricane disaster is there is typically time to get your property and yachts ready, or evacuate to “safe ground”,  as opposed to an earthquake where there is no warning.  The challenge in the Caribbean regarding hurricanes is that the only effective way off the islands is by plane.  You can’t drive to “safe ground” in the Caribbean, as you can on the mainland of the U.S.  So, most people can’t leave the islands.  They have to figure out how to weather the storm.  During the past few weeks the three hurricanes have been devastating, with Cuba also being severely impacted.

Here is an update on the impact of Hurricane Ike on the Turks & Caicos.  The winds, rain and the sea surge ( one of the most devastating consequence of a hurricane.),  has damaged or destroyed at least 90% of the homes on Grand Turk according to local journalist Audley Astwood.  He said, “It pretty much looks like an episode of ‘The Twilight Zone’.  It’s like the end of the world.  This is definitely similar to Hurricane Katrina in New Orleans, or worse.  It’s going to take years to bring this island back to the way it was.”  The reports for the Turks & Caicos are that over 40% of the island has been flooded.  Many people have decided to sleep in their cars because there homes have no roofs, and there is no electrical power.

Just the week before, Tropical Storm Hanna hovered over the Turks & Caicos for four days of torrential rain and winds.  So, when Ike hit the devastation was massive.  By the time Ike hit the Turks & Caicos it had become a Category 4 storm with winds close to 135mph - an extremely dangerous hurricane!  It moved on to devastate Cuba, and then lost some steam.  But, now it is moving through the Gulf of Mexico and has picked up momentum, and back to a Category 4 hurricane that seems to be headed to Texas.  And, there is another hurricane right behind it!

Please remember that the Caribbean has taken a real beating the past few weeks with the three hurricanes that have already passed over the islands.  The United States is not the only victim of Mother Nature. There has been up to 12 inches of rain just in the last few days on the Turks & Caicos, and imagine that the ocean beside your town rises from nine to 12 feet from it’s normal levels - this is called a “storm surge” after a hurricane, and it is one of the most devastating parts of these types of storms.  If you have friends and family, or just want to assist with the devastation that the Caribbean has endured, make donations to the Red Cross and designate it for relief in the Caribbean.  It is a tragedy that needs to be addressed NOW.  There are other storms coming so it is far from over in 2008.

At a moment such as the Caribbean is facing,  real estate issues are minor topics.  However, there are many people who have an interest in Caribbean real estate who are moving their focus to the Southern Islands, or to places like Belize and the Cayman Islands.  These are areas in the Caribbean that are not generally effected by hurricanes.  If you want more information on the spots in the Caribbean that are generally “hurricane proof” let me know I will send you some great choices.  Until next time…fair winds!!!

This boutique luxury resort on the Placentia Peninsula is a trendsetter when it comes to its “Green Features”!

Palmetto Bay Resort  is one of the leaders of “green” Caribbean developments in Belize.  This boutique luxury resort has integrated into its build features that other developers are watching closely.  Palmetto Bay Resort has carefully considered its impact on the environment from the earliest planning stages of its development. Some of the features they have implemented are:

• Geothermal cooling and heating technology
• Solar power for outside illumination - pathways, water features, landscaping and the beach
• Grey water systems to recycle water
• LED lighting that will reduce energy costs by as much as 80%
• Indigenous species of plants including fruit trees in the landscaping
• Cisterns to catch and store rain water and act as a renewable water supply for the saline pool, water features and landscaping
• Strategically implemented wind power

This gated project has plans for around 120 full-ownership condominiums.  The initial phase that has just been released has 36 whole ownership Caribbean beachfront condo starting in the low $300s US and they are currently the most sought after resort real estate for sale in Belize. It is just a short two-hour flight from Houston or Miami to Belize where there are no restrictions on foreign ownership of property or capital gains tax.  This is a project you may want to put on your list for your piece of Paradise!  They even just announced a fly-in package for people who want to seriously consider this as there next Tropical home.

OK…so how is this for a description of what Palmetto Bay Resort has created?  As you walk into your Caribbean condo you first notice a wrap-around veranda overlooking the turquoise-blue Caribbean Sea.  What I immediately do is dump my watch and find my bathing suit.  The temperature is around 85F degrees with a delightful warm breeze, and I then head to mash-potato coral sand.  Then the stress really starts because a decision needs to made;  sunbathe; snorkel, SCUBA dive; drink…because thirst is a dangerous thing; read; nap; eat; schedule a jungle tour checking out how many Tucans I can spot, and many more choices to consider.  Here is the fun part, I get to do it ALL!  My first task is take out the cold beer in the frig and head to a lounge waiting for me on the beach.  All the rest of the remaining choices will show up in their proper order…which, actually, there is no proper order.  This mind set is the way I get to “Caribbean Time” as fast as possible. 

Here is more good news for those you intrigued about buying real estate in Belize.  Belize has made owning real estate very simple and easy with some of the most advantageous offshore investment legislation in the world. The official language in Belize is English, and the legal system is based on English common law. Belize has no capital gains tax, no inheritance, estate or probate taxes and no restrictions on foreign ownership of property. The ease of air travel to Belize from the U.S., Canada, and the U.K. is effortless compared to many of your choices for other Tropical destinations.

Finally…you will discover a country of diversity!  It has a very wide variety of ethnic backgrounds that live together in a marvelous melting pot, each adding to the cultural color of the next. Belizeans are some of the friendliest people in the world. They are a cross-pollination of cultures - ancient Maya people, Spanish,  British, African roots, Mexican, Chinese, Japanese, Lebanese and Indian influences, AND the official language is still English.  This is one of the special Caribbean destinations that you will want to put on your “must see” list.  Let me now if you want more information about my favorite spots.  Until next time…fair winds!