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.

Caribbean Islands Realty was invited to become a member last July.  What a great resource it has been for our Caribbean Buyers and Sellers.  At the 2009 FIABCI conference there was a portion of the conference dedicated to sharing marketing plans for properties in their global marketplace.  Caribbean Islands Realty  was selected to present their internet marketing strategies for the 40+ projects they represent in the Caribbean – from Aruba to the Dominican Republic.  Each of the marketing presentations were voted upon by the delegates and Caribbean Islands Realty’s presentation won FIABCI ’s top marketing awards – the James Wray, Jr. Memorial Marketing Award.

The mission of FIABCI is to open the international community to members on an international level, so they can develop real estate contacts that will translate into increased global business opportunities – people connecting people to create one international marketplace. Membership in FIABCI allows it’s professionals to embrace cultural diversity with one common goal – to eliminate the boundaries of international real estate and provide the world with a community of experts ready to meet their real estate needs.

Our membership in FIABCI  has now opened a large number of doors for us to find international Buyers for our Caribbean properties, and to identify Sellers who want to contract our services that will allow their properties to be seen by Buyers throughout the world.  In just three short months we have seen amazing results with our connections to this organization’s worldwide members.  Click here  to find out more about our global real estate marketing strategies.  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.

Jim Walberg’s

Tom showed up in St. Thomas on August 11^th after selling all he didn’t want to bring with him to St. Thomas.  He ended a successful career in the world of home mortgages and decided it was time to act out a life long dream.  Six months ago Tom and I started exploring what it would be like to completely change his life and move to the Caribbean.  Tom decided he wanted a job in St. Thomas in order to accelerate his entrance into a completely different life.  Below are some of the keys that I shared with Tom regarding what it takes to move to Paradise.  After you review my suggestions, I welcome any of your experiences.

I told Tom that more people have moved to “Paradise” full time, only to leave disappointed within months, compared to those who have successfully completed the transition.  The reasons are many.  For a starter, the word “paradise” is misleading: “Paradise” is not a place, it is a frame of mind,  and one person’s paradise is another’s “empty lot”.

Here are some of the reasons why a transition to living in Paradise doesn’t work:

• Not doing enough research and being unprepared for all the adjustments you will have to make.  There are a lot of them.
• Not realizing that each island is unique and picking the wrong one.  Dominica is night and day to Aruba.
• Taking way too many of your current possessions.  Unless you plan to move with only what fits in your suitcases you will find moving your personal and household items to the Caribbean to be one of your biggest projects, and an expensive one.
• Not clearly understanding such things as the amenities of a home requires some adjustments – opened windows and doors, all tile flooring, the impact of going in and out of air conditioning, and even dealing with humidity and bugs.
• The setting in of homesickness for your familiar past lifestyle.
• Missing family and friends could also be the culprit, or it could be, and often is, simply that not enough time was given before deciding whether or not it was a move that suited you.

We have made many moves in our lives: from Southern California, to Geneva, Switzerland, to Tornonto, Canada, to San Francisco, and to the Virgin Islands. And, the most difficult one of all these moves was to “Paradise”. It was difficult because of the dramatic change in lifestyle compared to the other amazing places we have lived.  AND, we absolutely love it, but we have to instantly go into the “Island mentality” when we get off the plane at Charlotte Amalie. 

If you have a list of ten things to get done today, just plan on getting only one or maybe two at the most completed.  “Paradise” is just different than any of your world metropolitan centers. The key word in Paradise is “SLOW”!  Move slow, sail fast!  That is truly the mantra of the Caribbean.  It suits us to a tee, but the reality for us is that we are only there part time, because of our other home being in the San Francisco Bay Area.  All of our friends who have successfully made the move to the Caribbean take breaks from “island life” several times a year.  However, the longer they have lived in the Caribbean the less they leave the islands.  So, what are your stories regarding moving to your version of Paradise?  Your Caribbean lifestyle detective remains on duty.  Until next time…fair winds!

Dominican Republic:  The DR is one of the most stable Caribbean countries including Latin America.  It continues to attract international businesses because of their business-friendly policies.  Coupled with the low cost of living, the real estate values in the DR are very competitive with other Caribbean countries.  At the moment, the DR is considered the golf capital of the Caribbean.  There are more world-class golf courses in the DR than any other place in the Caribbean.

Also, travel to the DR is very easy because of the amount of direct flights from the U.S., Europe and South America.  There are ten international airports in the country.  It is a three hour flight from New York City, less than two hours from Miami, and only 45 minutes from San Juan, Puerto Rico.  The luxury resorts and choices of real estate allows the DR to be the Caribbean’s most popular tourism destination.

Belize:  Belize is the only English speaking country in Central and South America.  It is the least populated country in Central America, and real estate opportunities are growing rapidly.  The tax and business structure of the Belize has been designed to conduct your personal and business affairs in a safe and tax-favorable environment.  It is an environmental paradise.  From the rainforest, the exotic wildlife and birds, and white coral sand beaches, and world class diving, has elevated to my top four countries to consider purchasing real estate.  Belize has the world’s second largest coral barrier reef – the top one is the Great Barrier Reef in Australia.  The SCUBA diving and snorkeling is world class.

U.S. Virgin Islands:  Visiting or living is this Territory of the U.S. is a dream come true for me.  The beauty is boundless amongst the three very diverse main islands; St. Thomas, St. John, St. Croix.  Each of the islands is unique even though they are just a few short miles apart.  St. Thomas is the most populated and the hub of commerce and tourism.  St. John is almost all a National Park.  St. Croix is the quieter of the islands, but just as beautiful.  The real estate opportunities range from $200,000 to millions.  Because the USVI is a Territory of the U.S. its government, tax structure, and all standards are the same as in U.S.  The mash potato white sand beaches, sailing, snorkeling, SCUBA diving, fine dining, and duty free world class shopping is what keeps the world coming back to this fabulous example of what the Caribbean has to offer.

Dominica:  This is the smallest of the Caribbean islands.  Dominica is one of the more rugged of the Caribbean islands,  and it’s beauty will take your breath away.  It sits midway in the chain of Caribbean islands, just a few miles from Martinique and Guadeloupe.  It is an example of Nature’s unspoiled beauty.  Two thirds of the island is covered by tropical forests which includes over 1,200 plant species.  It is covered with lakes, rivers, streams, and waterfalls.  English is the official language with a large portion of the population speaking Creole.  This island appeals to who are seeking a sense of adventure, or would like a very quiet time away from the speed of light many of us have normalized around.  I love this special slice of Paradise.

These are my Top Four picks for the 2009 Caribbean real estate markets.  I welcome comments about any of your favorite Caribbean islands.  Your Caribbean islands lifestyle detective remains on duty.  Until next time…fair winds!

In my 30+ years of experiencing the Caribbean during July through October I have never experienced a hurricane while on-island or sailing   That is not to say they are storms to be taken lightly, but I would rather deal with a hurricane than an earthquake.  Hurricane warnings are so sophisticated that you are given several weeks to watch the storm’s progress as you decide what to do about you and your property.  There is no warning about an earthquake.  Can you believe that we live and have real estate offices in both of these parts of the world?  We wouldn’t change a thing!

The last devastating hurricane that hit the Virgin Islands was Hurricane Hugo in September 1989 – a Category 4 when it hit. It caused six deaths and $3+ billion in property damage. When this type of disaster hits a Caribbean island it sends shock waves through the timid investor that may rethink why they purchased a slice of Paradise there.  There are never any guarantees about not having another hurricane hit, but the Virgin Islands are not typically in the major hurricane paths.

The National Hurricane Center gave an update last week that the 2009 hurricane season was “storm-free,” and it marks the longest period without a first named storm since 1992.  The 2009 season has now been officially downgraded to below normal. The new estimate includes three to six hurricanes and one to three major hurricanes.  BUT, hang on to your hats!  After two and a half months, hurricane season is finally starting to show its true colors.  Hurricane Ana, the first named storm of the season just popped up,  immediately followed by Hurricane Bill on Saturday.   Don’t forget that the 2008 hurricane season didn’t seem like it was amounting to much last August,  then Hurricane Gustav  rose it’s ugly head and caused death and damage to Haiti, the Dominican Republic, Cuba, the U.S., and hit Texas really hard.  It also created the largest evacuation of people in U.S. history!  Then Hurricane Ike  hit shortly afterwards with a double-punch of more devastating damage to the Caribbean and the U.S.

The update yesterday in the USVI regarding the status of Hurricane Ana and Bill was very encouraging news.  Gov. John, deJongh, Jr. assured the Territory that it appears Hurricanes Ana and Bill will pass by as mere tropical storms. “Based on these forecast, we may be spared a direct hit,” Gov. John deJongh Jr. said Sunday. “But we caution everyone that the paths of the storms may change. Residents should prepare for inclement weather starting Monday through the latter part of the week, and we also urge everyone to closely monitor what’s going on and be prepared in case the storms do change tracks.”  They are still expected to get four or more inches of rain in the Territory between now and next weekend.

Whatever your price range is for buying a slice of Caribbean real estate you will find many bargains to choose from between July through October.  This is typically the slow time in the Caribbean real estate markets, and it is the time to BUY!  Let me know of any of your hurricane experiences.  Your Caribbean Realtor and lifestyle reporter remains on duty.  Until next time…fair winds!

The “slow season” in the Caribbean is connected to the start and finish of the official hurricane season – June 1^st to November 30^th.  There are many people who live in the Caribbean only six months a year and move off-island June 1^st.  In addition, the crewed charter yacht industry typically end their charter season near the end of June.  There are a few yachts that charter all the way through August, but is it rare.  AND, it is my favorite time of year to assist Buyers who want a piece of Paradise because there are always some great bargains.

I love the Caribbean all year-round, and I am fortunate to have never been on-island during a hurricane.  This is not to say that a hurricane is to be taken casually.  They are a devastating aspect of Mother Nature.  Hurricane Hugo was a destructive Category 5 hurricane  that struck the Caribbean and the U.S. Atlantic coast in September of the 1989 Atlantic hurricane season,  killing 109 people and leaving near 100,000 homeless.  Hugo caused $16.3 billion US in damages within the U.S. and the Caribbean, making it the most damaging hurricane ever recorded at that particular time.  The devastation of Hugo was surpassed by Hurricane Andrew  three years later that caused over $30 billion, which was eventually surpassed by Hurricane Katrina  in 2005 that caused over $85 billion US in damages. ( The rebuilding after Katrina will still take many years to complete.)

Hugo created a real mess in the Virgin Islands in 1989 with six deaths. The total damage from Hugo in the Virgin Islands was approximately $3 billion. When there is such a disaster as Hugo in the islands, it leaves a very big impression in the minds of people who own Caribbean real estate, and especially people who are thinking of buying real estate in the Caribbean. One of their thoughts is, “Oh my God, what if I had owned property there? What a mess I would be in.” There are no guarantees, but the Virgin Islands are NOT typically in the major hurricane paths – the last one was over 10 years ago!   However, a hurricane will hit the Virgin Islands again – just like an earthquake will hit San Francisco again.  2009 is predicted to bring 14 named storms  to the Atlantic Ocean, with seven of them becoming hurricanes, according to Colorado State University forecasters Philip Klotzback and William Gray.  Their report forecasts a “below average” 2009 hurricane season in the Caribbean and U.S.

So, if you are OK about living in a region of the world that has the possibilities of a hurricane each year, then the time to buy is during hurricane season – June through October.  The amount of real estate inventory that is on the market in the Caribbean during hurricane season is UP.  The population will swell in late October in the islands.  My conclusion each hurricane season is it is time to BUY!  Inventory is up and the Buyer pool is much lower during this time.

With fractional deeded ownership townhomes starting at $200,000 US and beach front villas priced as high as $4 million US,  I promise you there are many properties to choose from during this annual “slow time” in the Caribbean real estate market. Again, I would rather deal with a hurricane than an earthquake.  At least with a hurricane one has a lot of warning.  There is no warning with an earthquake.  Is it the strangest thing that I have homes in both locations?  The reality is both the Caribbean and the San Francisco Bay Area are my favorite spots in all the world.  Let me know  about your experiences in the Caribbean during hurricane season.  Your Caribbean lifestyle detective remains on duty.  Until next time…fair winds ( And,  I mean it.)

The news just arrived that Luxury Real Estate was awarded 2009 Webby Award Honoree  recognition this week in the Real Estate category – for excellent “content, structure and navigation, visual design, functionality, interactivity and overall experience”!

LuxuryRealEstate.com  was awarded “Most Prestigious Real Estate Website” by the Luxury Institute in 2008 and it is with great pride that we continue to lead the crowded online real estate space to stay ahead of our competition to become the only luxury real estate website that is recognized in the 2009 Webby’s!”

The Luxury Real Estate web department is a strong and creative group and with the prestige that accompany an “Official Honoree” selection.  This group of professionals has made LuxuryRealEstate.com join the ranks of the Web’s best and brightest team of professionals, putting LuxuryRealEstate.com in the esteemed group of industry leaders such as Amazon.com, eBay, Yahoo!, iTunes, Google, FedEx, BBC News, CNN, MSNBC, The New York Times, NPR, Salon Magazine, Evite, Meetup, Wikipedia, Flickr, ESPN, Comedy Central, PBS, and The Onion. 

LuxuryRealEstate.com is one of my internet marketing partners for all of our Caribbean listings.  Their website has over 4 million visitors a month reviewing all of their varied customer resources.   They are one of our key partners in marketing all of our Caribbean luxury properties.

The 2009 Webby Awards’ judges included David Bowie, Harvey Weinstein, Arianna Huffington, Matt Groening, Internet inventor Vinton Cerf, Twitter co-founder Biz Stone, Virgin Group Chairman Richard Branson, and R/GA Chairman and CEO Bob Greenberg.  Contact me today in order to discover how our international real estate marketing program can benefit selling your real estate.  Until next time…

Luxury Real Estate’s 7^th Annual Spring Conference  is in Las Vegas this month.  Every year the Luxury Real Estate group meets to discuss the latest trends in their niche market, and brainstorm cutting-edge marketing techniques. There will be approximately 200 of the top real estate professionals from around the world gathering to learn and share their latest successful tools.  Given that the communication world is at galactic speed with the use of FaceBook, Twitter, Blogging, and LinkedIn, it is critical for professionals to either master these tools are be left in the dust.

Jim Walberg from Caribbean Islands Realty,  Michael Marquette from Sydney, Australia, Jon Larrance from Denver, and Bruce Hiatt from Las Vegas are panelists for the topic of “The Power Of Social Networking”!  I am honored to be a part of this powerhouse group of professionals who are using the social networking tools in many different ways with similar extraordinary results.

Michael Marquette is recognized the world over due to his firm’s laser focused usage  of social networking platforms.  With its innovative news and information sourcing, the Marquette Turner internet presence has become “The number one visited luxury real estate website in Australia”. 

Jon Larrance’s special interest lies in exploiting the practical business applications inherent in everyday internet functions.  Jon is an active blogger, fan of Web 2.0, and has made it his personal mission to get all Perry & Co. Agents adept in at least one social networking platform.  Although Jon is a licensed Realtor, he often gets more pleasure from teaching than from selling.  Bruce Hiatt is an expert at using all the tools that the internet has to offer a real estate company and agent.  In fact, Bruce directly attributes over 30% of Luxury Realty Group’s total sales to their blogsite alone. 

Victor Lund  from the WAV Group will be the moderator of this featured conference panel.  He is known for his in-depth analyses  of what technology it takes to succeed in luxury real estate.  Victor’s articles on the topic are often featured in the much revered Inman News.  Victor has agreed to the challenge of keeping the discussion with the panelists and audience to within the hour allotted on Tuesday, April 29, 2009, 10:30am, at the Four Seasons Hotel, Las Vegas.

Who’s Who In Luxury Real Estate invites you to follow the discussion through Twitter.
Luxury Real Estate – luxurylounge
Victor Lund – victorlund
Jon Larrance – perryandco
Jim Walberg – jimwalbeg
Bruce Hiatt – luxuryrealtygrp
Michael Marquette – mmarquette

Who’s Who In Luxury Real Estate  seeks out firms and individuals who have a reputation for exceptional knowledge and expertise in the marketing of luxury properties throughout the world. There are currently nearly 1,900 firms worldwide in this exclusive organization with more than 5,000 offices and 120,000 agents.  This assembly of brokerage firms and individuals collectively sells over $100 billion in real estate every year, with an average sale price of $2,200,000.  Jim is very fortunate to have been invited   to be a part of this amazing worldwide group of professionals.  Check on Twitter  during The Power Of Social Networking panel discussion to keep updated on the event.  Until next time…

There are a couple of other parts of the Caribbean that are missed with those who want a piece of Paradise.  One of those special places is the Cayman Islands.  The Wyndham Grand Bay Waterford  is one of my favorite luxurious choices that you can find in the Caribbean.  The Cayman Islands are not noted for the sailing experience that I love, however if you love mash potato coral sand beaches and breathtaking SCUBA diving these are the islands for you.

Many of you have probably vacationed in the Caymen Islands.  But for those of you who have never been to this Caribbean paradise, the Cayman Islands are located in the western Caribbean.  The Cayman Islands are approximately 180 miles northwest of Jamaica and are made up of Grand Cayman, Cayman Brac and Little Cayman. The overwhelming amount of fish life, coral reefs, water sports and shopping make Grand Cayman the perfect destination for the world travelers looking for non-stop luxury, relaxation and water adventures.

The Waterford  has choices for anyone’s needs, from luxurious villas, grand penthouses and an elegant “Great House.” It is located in Crystal Harbor Safe Haven, overlooking the magnificent North Sound and Sting Ray City.  Those that have been to the Cayman’s know that Sting Ray City is unforgettable. And, it is right next door to the North Sound Championship golf course for those who can’t stand to be without a day of golf. A side note is that my lowest golf score is at 114!!!  The resort includes 44 two-bedroom and three-bedroom oceanfront villas, and three luxury penthouses. If you are one of the Residence Club owners at the Waterford you will enjoy lodging throughout the year with at least six weeks of flexible usage, plus unlimited “space available” usage at no additional charge. And, the prices start at about $300,000 for membership to the Residence Club.  When you are at your villa you will be blown away as to what is included; access to a Land Rover, BMW, Mercedes or Audi; and access to a Boston Whaler with your own personal captain as you explore all there is connected to the Cayman Islands waters.

The Waterford just joined The Registry Collection program – a global Residence Club network with over 30,000 members and more than 160 luxury resort opportunities on five continents. These 160 properties participating in The Registry Collection are available for exchange to any of the Residence Club owners, fractional property owners, and fractional yacht owners. As the world’s largest luxury exchange program, The Registry Collection program provides members with access to some of the world’s finest vacation properties, as well as a personal concierge service that is available 24 hours a day at each of their properties.  Spread the word about this luxury resort opportunity to your clients who are looking for their first “second – home” location , or those who are accumulating additional properties around the world.  Contact me  for more information as to what is happening in the Grand Cayman, and any of the other islands in the Caribbean.  Your Caribbean lifestyle detective is always on duty.  Until next time…