For the past two years of sailing adventures in the BVI I have sailed by this development as we headed to Marina Cay for some painkillers and conch fritters, or to the anchorage right across the channel from Scrub Island.  We even took our dingy over to visit one day and wandered around the construction site.  The location is spectacular for many reasons;  A marina that has 55 deep-water slips, including five slips for yachts up to 150 feet, as well as provisioning supplies, diesel fuel, black water pump-out station, metered electricity, laundry facilities and more services;  The over-the-top spa and fitness center;  Caribbean sunsets – a must for me;  and…a few very private beaches.

Scrub Island Resort officially opened February 11^th,  with some GREAT rates between now and March 31^st – a $399 daily room rate.  This is about half of what it will be after the “soft” opening, so if you can make plans quickly you will be getting the deal of the year with these rates.  The rate also includes breakfast and nightly cocktail receptions.  The amenities and choices one has to discover the BVI are endless with Scrub Island Resort as your luxurious home base.  Here are a few to consider;

• Snorkeling and SCUBA diving adventures to destinations such as The Wreck Of The HMS Rhone,  Angel Fish Point on Norman Island, The Dogs, and many more.  And, a trip to The Baths on Virgin Gorda is a must for breathtaking snorkeling.
• How about marlin fishing to the BIG Drop with Scrub Island Marina as your shortest run to my favorite big game fishing spot.
• How about the shopping destinations in the BVI?  One of our top boutiques is a Peter Island Resort across the channel from Scrub Island.  The clothes are very high end with many of them now in my wife’s closet.  Another one would be at The Bitter End Resort on the island of Virgin Gorda.  It is worth an afternoon to just wander around.
• The Scrub Island Resort lagoon pool with the 15’ waterfall is where my wife would hang out most of the day.  It is another spot that will take your breath away from morning to sunset.  AND…they have a great pool bar and restaurant so you never have to leave your lounge chair.
• If you never leave Scrub Island the resort has created five different dining experiences to satisfy all of your gourmet desires – from candle light elegance to bare foot in the sand casual.
• For those who don’t want to fully disconnect from the world, the resort has wherever you are at the resort and all the beautifully appointed rooms have king-size beds, big plasma satellite TV, air-conditioning and non-stop views of the Caribbean.

For more information go to their website and check more of the details, or contact me TODAY.  I know you will be very excited about this brand new Caribbean experience awaiting your review.  Until next time…your Caribbean lifestyle detective remains on duty!

The other two major players in this division of worldwide real estate product, Wyndham Worldwide Corporation  and Starwood Hotes & Resorts Worldwide, are now being watched to see if they will scale back their Caribbean fractional projects because of falling sales and the loan products drying up for this type real estate.  ( You may recall from earlier articles that almost half of the fractionals purchased in the Caribbean were all-cash purchases.)  I do expect announcements soon from Wyndham and Starwood.

This news should alert the discerning second and third home buyers that it is the time to BUY!  Prices for Caribbean fractionals have fallen  the past year so there is lots of room for the bargain hunters.  Analysts are even predicting that the fractional products in Paradise could be in for a long recovery.  Joseph Greff from J.P. Morgan Securities  recently said, “This business, at least for the next 10 years, is going to remain permanently shrunk.”  I personally don’t share this pessimism, but Mr. Greff may be looking at data from afar that I don’t have given that I am right in the middle of the action in the Caribbean markets.

One of the best fractional/residence club products that Marriott has produced in the Caribbean is at the Ritz Carlton in Red Hook, St. Thomas.  This was one of their first entries into the fractional product over ten years ago.  Because of the success in the U.S. Virgin Islands  it sparked similar developments around the world under the Ritz Carlton brand.  With this news Marriott is still continuing to manage properties built by other developers and will continue to license its brands to luxury developer.  Plus, the Marriott will complete its luxury-fractionals and residence projects that are currently under construction.

They are not permanently exiting fractional-ownership project development.  The Marriott has said it will start building new luxury fractional and residence projects when those specific markets recover from the world economic meltdown the past two years.  One of the issues that is still facing consumers is the ability to find mortgage money for these second home products.  Lenders have not had this type of credit available for over a year because of lowering risk in their lending portfolios anyway they can.

Surprisingly, Marriott has done better with time-shares the past two years with over half of their revenue the first half of 2009 coming from this product – $338 million!  With the Marriott writing off a $760 million non-cash charge against third-quarter profits it will almost cancel out any gains from the luxury fractional and residence products Europe, Asia and all of North America.  CLICK HERE   if you would like more information about the Caribbean Franctionals as a way for you to buy your slice of Paradise.  Until next time…your Caribbean lifestyle detective remains on duty.

The four day conference held from September 13^th to September 16^th welcomed Brokers from around the world – from New Zealand, and Spain, and Italy.  The focus of the best practice seminars included;

• Media Fragmentation: Facilitated by Nick Antonicello from Unique Homes Magazine.
• The Mechanics Of Creative Listening:  Facilitated by Matt Smith,  improv actor and corporate trainer.
• The Unabashed Pursuit Of Market Leadership: Facilitated by Ron and Alexandra Seigel  from Napa Consultants.
• The Five Practices of Exemplary Leadership:  Facilitated by Liz Christoffersen from Empowering Consulting Group
• Changing Realtor Roles In A Changing Environment:  Facilitated by Bonnie Smith Allen from Exclusive Mountain Retreats Real Estate.
• The Virtual Luxury Real Estate Office:  Facilitated by Michael Marquette from Marquette Turner Luxury Homes, and Jim Walberg  from Caribbean Islands Realty.
• Redefining The New Luxury:  Facilitated by Dan McCarthy from Network Communications, Inc.

Jim Walberg and Caribbean Islands Realty were honored at the annual Luxury Real Estate awards banquet last Tuesday night held in the elegant ballroom of the Ritz Carlton.  This is the awards event that is a time when the best of the best are honored each year for their achievements in the world of luxury real estate.  Jim received the 2009 Global Real Estate Networking Award for creating the largest global real estate networking community within Luxury Real Estate.  Because of this network, Jim has been able to serve his international market of Buyers and Sellers at the highest levels.

Who’s Who In Luxury Real Estate is a global network of over 1,500 luxury real estate brokerages that is by invitation only.  It also provides an annual reference guide for luxury real estate agents internationally in order to connect their practices, their Buyers and Sellers.  This is made is made easy because of the Luxury Real Estate member-directory that is published each year.  Each member is carefully selected based on the company’s established reputation for performance, experience with high-end properties, and quality service.  We are very fortunate that Caribbean Islands Realty were invited three years ago to be members of this prestigious group.  Click here  for information about your real estate needs in Paradise.