The Fairmont Hotel in San Francisco was the host of this years conference ending March 20^th.

Ragatz Associates is an international consulting and marketing research firm that serves the worldwide resort industry.  It was founded in the 1974 by Dr. Richard Ragatz which has now conducted over 2,000 studies for resort developments in over 70 countries and across the United States.  The company provides two core services to the resort industry - feasibility analyses for resort projects and market research for the potential resort project.  Ragatz Associates focuses on consumer shared-ownership of the resort industry, which includes fractional interests, private residence clubs, destination clubs, and resort timeshares.

For the past eight years, Dr. Ragatz and his team host the annual conference which further explores the world of fractional ownership of resort properties.  This year’s conference was in San Francisco from March 18^th - 20^th.  The “whos who” of the resort property world were attending.  It was my pleasure to spend time at the conference and even have the opportunity to interview two of the conference presenters - Sherman Potvin, president of Luxury Fractional Guide, and Bob Waun, the CEO of Vacation Finance.  The conference agenda covered all aspects of the evolving world of fractional ownership for those seeking part time second homes around the world. A sample of the conference agenda follows;

• Today’s Affluent Consumer
• The developers’ view of the upcoming trends - from the Brand developers, Private Residence Club, and Independent fractional ownership developers.
• Fractionalizing “One-Off” homes - creating a fractional ownership for one residence.
• The external exchange companies
• Structuring the most proper offering of the fractional ownership product.
• The owners benefits and the required ancillary services.
• Critical legal issues in the fractional ownership industry.
• Financing fractionals in today’s wild financial market place.

For a copy of Dr. Ragatz 2008 report click here.  I believe the cost for those who did not attend the conference is $175. Please contact me if you like more information about what Fractional Ownership is about, or, if you are a developer, how you can maximize your return by creating a fractional ownership structure for your resort projects.  Until next time…

  The fractional ownership trend is finally spreading onto the Cayman Islands!

When most of you think of the Caribbean you forget about the Cayman Islands, Jamaica, and the Turks & Caicos.  Also, many of you still think that the Bahamas and Bermuda are part of the Caribbean.  So, for those of you who have not yet experienced the outer islands of the Caribbean, here is some info to peak your interest.  The Cayman Islands consists of three small islands: Grand Cayman, Cayman Brac and Little Cayman. Cayman Brac can be reached through a weekly one-hour direct flight from Miami or through daily connecting flights from Grand Cayman. Residents enjoy freedom from taxation, a stable democratic government (British Territory), and the highest standard of living in the Caribbean.

Cayman Brac, the middle sized island, is about the same size as Manhattan (12 miles long, 2 miles wide) but the skyline that gives it its name is natural: a sheer rock bluff (”Brac” is Gaelic for bluff) that runs the center of the island and sets it apart from its two low-lying sister isles. The island is home to about 1,800 residents and has a number of caves dotting the island that are rumored to still hold hidden pirate treasure.

It is no secret that Cayman Brac has some of the world’s finest diving and its greatest attraction is its surrounding waters. Virtually every major dive magazine has ranked the island among the World’s Top Ten Destinations. That’s because just offshore you’ll find more than 100 species of coral, more than 500 kinds of fish and some of the most dramatic and unique geological formations on the planet. Cayman Brac offers some of the best diving in the Caribbean and most sites are just a few minutes boat ride from the resorts.

Crystal Azure Beach Resort is now offering fractional ownership at preconstruction prices. This is an opportunity to purchase an outright share of ownership in one of our luxury, beachfront villas supported by full service amenities and a comprehensive rental management program. This means you can use, rent, lend, trade, will or sell your fractional ownership as you see fit without restriction. The prices for a ¼ ownership start at $110,000US!  There are an additional $260 in monthly maintenance and management fees.

The Waterford Private Residence Club is another fractional ownership opportunity on Grand Cayman. It will be a five-star resort and spa. It will contain 50 two- and three-bedroom villas and four estate homes spread over 11 buildings and 10.5 lushly landscaped acres. As a fractional, buyers can purchase a 1/8 share which entitles them to six weeks of usage and additional time based on availability, at no additional cost. The prices for preconstruction start at $297,900US! The Waterford will be completed by May 2010.

All villas and homes will be delivered fully furnished and equipped with designer furniture and top quality appliances. When in residence, owners will have access to a Land Rover, BMW, Mercedes or Audi for their personal use. They’ll also be able to use a Boston Whaler boat, complete with captain. Owners at The Waterford will receive five-star quality care when visiting. From a 24-hour concierge to make golf and dinner reservations to pre-arrival grocery shopping service, every need will be attended to. With two pools, a community Great House with a cigar room, fine dining restaurant and bar, plus a full service spa and health club, it will be the choice of many discerning owners who can’t wait for the a home in Paradise.  I will keep you posted as to how the build out goes for both of these new fractional ownership opportunities that have now come to the Cayman Islands.  Until next time…

If you include Mexico, half of the Top Ten Luxury Villas are in the Caribbean and Mexico!

Each year Travel + Leisure publishes their “Top Ten Luxury Villas” in the world. This year’s list confirms the world’s focus on the resort opportunities in the Caribbean Islands.  And, as I stated in the sub-title, if you include Mexico, HALF of the top ten are in the Caribbean and Mexico! What a deal for the Northern Hemisphere to enjoy the opportunity of luxury living and luxury vacations.

Here are the top Caribbean Islands Villas for your review. If you want more information you can also go to CNN.com under real estate.

• Au Soleil, St. Barth:  The very model of a hedonistic St. Bart’s retreat, this four-bedroom villa overlooking St. Jean Baie is over-the-top luxurious. The property is an Eden of tropical gardens with a fountain, a bi-level infinity pool, and a grand pavilion (known locally as an ajoupa) for gazing over all of it. Inside, the gleaming gourmet kitchen comes with an in-house chef; the common areas have vaulted ceilings and terracotta floors, and the bedrooms all have carved wood queen- or king-size beds. More sybaritic pleasures–namely, the beach and swanky shops–are just a five-minute drive away. Pricing: From $9,500/week.
• Villa Beach 921, Dominican Republic:  The soaring, open-plan design of this four-bedroom property makes the most of its beachfront location on the Dominican Republic’s north coast. Inside, the amenities include a slick chef’s kitchen with a wood-burning pizza oven, and baths with sunken spa tubs. Outside, there’s a private palapa for yoga or meditation, an herb garden, a four-car garage, and a spacious infinity pool overlooking a slice of breezy beach. The water-sport capital of Cabarete, just minutes away, has windsurfing, kiteboarding, and enough cafes and beach bars to keep happy-hourers happy around the clock. Pricing: From $21,000/week.
• La Koubba Villa, Turks and Caicos:  A sprawling (8,000-square-foot) Moroccan-style villa just south of Providenciales in Turks & Caicos, La Koubba has ocean views from all five of its bedrooms. The interiors are decorated with eclectic textiles and ceramics from around the world, along with hand-loomed rugs and embroidered throw pillows. An arched courtyard leads to a hammock-surrounded pool, and a summer kitchen perfect for barbecuing. The calm waters of Sapodilla Bay are just steps away–literally, via a staircase leading into the sea. Pricing: From $10,000/week.

For more information, contact me today.  You will be blown away by these three villas. I would love to introduce you to each of them.  Until next time…

Grand Turks is the location of the newest beach resort

in Turks & Caicos -  L’Emeraude

I’m sure you remember my past blog about what is happening in the Turks & Caicos.  Well, it hasn’t slowed down a bit!   L’Emeraude has just broken ground on their beach front resort on Grand Turk.  The owner, Mr. Erwin Jones stated today, “L’Emeraude has been designed to offer a select few owners an oasis of peace and tranquility.  Plus, the floor plans feature thoughtful amenities such as living rooms that open to the broad covered terraces, spacious and well proportioned bedrooms, with views of the beach and the turquoise waters of the Caribbean.”

Mr. Jones’ vision has created a boutique resort that is limited to only 8 two-bedroom, two- bathroom oceanfront suites, 12 one-bedroom, one-bathroom suites, and 12 studios with lockout poolside suites.  The resort has been elegantly arranged around a stunning signature pool designed in the shape of Grand Turk.

The layouts feature an open plan living room/dining room with a fully equipped and well laid out kitchen. Suites on the upper floors boast 18′ high vaulted ceilings. Each of the beachfront suites is a corner unit, maximizing the dramatic ocean views and allowing the gentle sea breezes to flow through.  For the owners comfort each unit is also fully air-conditioned.

The beautifully designed garden features walkways to the beach, a central signature swimming pool that includes a small palm island and gazebos in which to relax and dream the day away. L’ Emeraude will offer a Game Room, Fitness Centre, Restaurant and Bar, Lounge Area and Gift Shop.

All the condo suites will be professionally designed and furnished with an attractive tropical furniture package. However, the real beauty of L’ Emeraude is it’s location on Pillory Beach, with the breath-taking Caribbean waters, and the charm and small town feel of Grand Turk. Grand Turk is just a short 25 minute flight from Providenciales and is well served by local scheduled airlines whose time-tables are conveniently coordinated with those of the major international airlines serving Providenciales. Grand Turk is a world unto itself. I know you will fall in love with it as we have. Prices range from $280,000 to $675,000 for presales. Contact me today for more information.

Harliquin Property just announced this morning that they are now offering fractional ownership in their residences at Buccament Bay Resort!

 London, England:  Hot off the presses…I just received confirmation this morning from London that Harlequin Property has just announced that they will be offering fractional owernship purchases for their residences at Buccament Bay Resort.  You will recall that I discovered this 5-star resort last September while sailing around St. Vincent. It is a spectacular resort right on the beach with all of the amenities one would expect. You will also recall that Harlequin Property is developing 5-star resorts in five other locations in the Caribbean. We are now a part of their worldwide marketing groups that represent all of their resort projects, from the Caribbean to Thailand.

In addition to the fractional ownership opportunities at Buccament Bay, Harlequin is offering their 100% financing package to those who qualify. It is a brilliantly simple financing structure that Harlequin Property has created that allows for a much broader group of buyers to participate in resort property ownership.

The developers of Buccament Bay have also created one of the biggest water gardens in the Caribbean within the resort.  They have contracted the services of Mr. Peter May, garden designer, author and water-landscaper, and editor of Water Gardener Magazine.  His January 23rd article was about this project. Mr. May flew to St. Vincent last November to preview the project and see if it was one that his firm would be willing to take on.  It has just been announced that Mr. May’s firm is going to take the lead on this project.

Mr. May says, “There should be a mass of material created from this adventure to show readers how to build water gardens in the tropics. Part of the excitment is that I don’t know what the challenges really are until I get started. One of them will undoubtedly be the weather, plus the exrtremes from one season to another, the sun and the heat are going to make water gardens become swampy lagoons in no time unless there is a plenty of oxygenation and a good balance of plants. Resorting to technology will also be imperative rather than an option with a project of this magnitude.”

St Vincent is the location for many of the scenes in “Pirates of the Caribbean” and the bay next along from where many of those scenes were shot is the site of a new pretigious holiday resort that has been is sensitively designed to blend in with the beautiful landscape. If you want to get an idea od what may be involved, take a trip to Buccament Bay and check out the site plan and the artist’s renditions of what is in store for those special few that purchase full ownership or fractional ownership residences in this 5-star resort on St. Vincent.  Your Caribbean lifestyle detective remains on duty.

In the past six months the impact of fractional ownerships in the Caribbean is impacting the resale of homes and condos!

The smart developers saw it coming and they are building the product for the demand - fractional ownership of resort properties!  Up until just two years ago if you were going to purchase a home, villa, or condo in the Caribbean, that would have been your choices.  In 2004 the Ritz Carlton at Red Hook, St. Thomas started seeing their gamble of selling just a portion of a residence start to pay off.  What is happening today is a BIG parade of world wide developers joining the game. And, what they are delivering to the Boomers, Brits, Europeans, Canadians, and Latin Americans are a multitude of choices of part time living in Paradise. ( Check out one of my past postings on fractional ownership.)

Just last week I was on St. Thomas speaking with one of the key real estate Brokers in the USVI.  He and his company are the foundation of the resale market in the Virgin Islands. During our discussion I asked him some very pointed questions regarding the impact that fractional ownerships were having on the resale market for homes, villas and condos. He said it has been dramatic! Todays buyers for Caribbean properties are generally not going to be living here year-round.  They are typically on-island in the Caribbean about a month a year, and then they are either back to their home country, or they have another fractional ownership in some other part of the world - following the snow or the sun. 

The fractional ownership model allows for the developer to maximize the value of the property because they are selling it to the buyers for a premium price since there is a management company as part of the package, plus the developer has each villa or condo completely furnished. So, typically there are twelve owners of each property, each of them purchasing a month of the ownership. The buyers are willing to pay much more per square foot for a fractional property than they would for an individual home or condo because of the amenities and the management contract.  Just for example, I did some homework with my calculator and discovered that I could purchase a villa for about $350 per square foot.  Hang on to your hats…the developers of a fractional ownership resort are able to sell each unit for close to $1,000 per square foot, and the buyers are standing in line to buy them!

The appeal is no hassles of management, they arrive to a fully furnished home or condo, they have ownership that can be sold or transferred to their heirs as is the case for any other real estate they own, and the property is in an ultra-luxurious resort setting on the beach or the ski slopes of the most sought after locations in the world! Now do you see why the fractional ownerships are the hottest real estate opportunities happening right now! Remember, the blog posting I wrote about Aruba’s fractional developments that are waiting to be built numbered in the thousands!!! If you want more information about the many fractional ownership resort opportunities in the Caribbean, email me.  I will send you lots of information that will allow assist you in making a purchase decision. Until next time…your Caribbean lifestyle detective remains on duty.

Jim Walberg and Ann Marie Nugent received the Platinum Award For The success of their company this week!

Atlanta, Georgia: This week Jim and Ann Marie, owners of Caribbean Islands Realty, were at the international convention of Keller Williams Realty in Atlanta, Georgia, participiting in their mastermind conference with 8,500 other Realtors. At the conference’s award banquet, Jim and Ann Marie were honored with the company’s Platinum Award for the 2007 successes of their company. This award is given to the top 1% of Realtors in North America and the Territories. Their dedication to non-stop customer service and just plain hard work as Realtors allowed them to achieve this accomplishment.

In addition, to the awards banquet, there were three days of idea sharing among top Realtors with a focus on internet marketing. Jim and Ann Marie’s results from their Caribbean Islands Realty blog site / website was an example that was used to exemplify what can be done to connect with a worldwide audience searching for the “Tropical Experience” that are awaiting anyone who wants to discover the Caribbean islands. For further information contact them today.

  St. Thomas is the location of the most recent luxury residence project in the Caribbean

Some of you remember my article about the Dolphin Cove project last September. There were many comments from you about how my predictions about Dolphin Cove’s completion date were very optimistic. Well, you were all correct! Ground breaking finally started last week for Phase 1 of this very exclusive project.  It is now projected to be completed by 2010, and some of you may still think that is optimistic.

Dolphin Cove is right next to Secret Harbor on the Red Hook end of St. Thomas. It was the first dolphin training center as it became evident that this mammal was highly intelligent. The training and research center did not have any holding pens.  The dolphins came and went as they pleased at this facility. The objective of the dolphin training was to assist with locating ocean mines during World War II. The original concrete training areas on the water are still there and they will be preserved as part of this luxury resort. The Dolphin House, the 5-star restaurant that is part of the resort, will be built on the cliff above the original training center.

Dolphin Cove will be made up of approximately 150 townhouses and Villas with exceptional floor plans, spacious living areas, gourmet kitchens, balconies, and decks overlooking the Caribbean Sea. This exclusive gated residence resort will also include tennis courts, salt water and fresh water pools, a fitness center, coast side hiking trails, and two private beaches. And, when you are dining at the Dolphin House you will have some of the most spectacular views on St. Thomas of Nazareth Bay and St. Croix. Besides the water sports activities available at the beaches next to the original dolphin training center, Dolphin Cove will also feature a completely self-sufficient community, with it’s own security system, water treatment plant, and stand-by generators.

Dave Marriner is the visionary for this long anticipated exclusive residence community on St. Thomas.  Marriner has the track record to complete such an ambitious project because of his work with Taylor-Woodrow in the development of Newport Beach, California, and the contribution he made to the development of ski community of Incline Village, Nevada, along the shores of Lake Tahoe. Marriner has a very successful real estate company headquartered at Incline Village, however, he will be on-island most of the time, managing every detail required to have Dolphin Cove exceed the expectations of the vision he has been developing for the past four years of this becoming one of the true jewels of Caribbean living.

I will be on St. Thomas this week personally checking out the progress of Dolphin Cove so you will be getting a first had report by next weekend. During my time in the Caribbean I will also be anchoring at Lambert Bay on Tortola, BVI, as I check out the progress of Raffles Tortola, another exclusive residence project that will also come on line by 2010. For more information on the pre-sale reservations for Dolphin Cove and Raffles Tortola, email me and I will provide it to you. Until next time…

Pelican Marina Residence Resort is another example of this expanding market!

Fractional residence resorts continue to expand in the Caribbean. Another one to check out is at Pelican Marina Residences on the Dutch side of St. Maarten the shores of Simpson Bay.  St. Maarten / St. Martin is the smallest island in the world shared by two nations with a melting pot of French, Dutch and Caribbean traditions. Right in the middle of the action is the Pelican Marina Residences. The Caribbean fractional condos at Pelican Marina Residences offer 83 two-bedroom villas sleeping up to six people. All condos can be locked off into a one-bedroom suite for four and a junior suite for two.

This fractional ownership project is located in one of the best beach locations on the island, within walking distance of all the water sports, bars, restaurants, casinos, and shopping you would ever want in the Caribbean. St. Maarten is also the location of one of the premier IYM marinas in the islands. If you remember, this is the marina company that has developed Yacht Haven Grande in St. Tomas, USVI.

Pelican Marina Residences are just a 10 minute drive to St. Maarten’s capital, Philipsburg, and is only a 20 minute drive to Marigot Bay in St. Martin. The residence villas are fully furnished and include all the amenities for a Caribbean stay. They have a state of the art fitness center and Spa, and with a luxurious pool in the center of the ocean front residences. As an owner you are also able to use all of the facilities connected to the Pelican Resort that is right next door.

Remember, fractional ownership is an exciting and fast growing concept in resort luxury vacation home ownership. Think of it as you and three friends buying a vacation home together. Each owner has the ability to own there very own vacation home, but they do not have enough time to use it as much as they’d like. So, with a fractional ownership each owner enjoys the benefit and convenience of having access to the vacation home for a fraction of the year. Their investment and ownership is matched to the expected use, and the costs are kept lower by paying only for the portion that actually used. This allows a fractional owner to have all of the luxury associated with spending time in the Caribbean, without the hassles normally associated with owning and maintaining a vacation home. Most all of the fractional vacation homes in the Caribbean are professionally managed and maintained for you by the fractional resort development company.

I love this two-nation island. It has all three aspects of the Dutch, French and Caribbean flavors all mixed into one. It is an easy island to get around on, and the beaches are over the top! I enjoy spending an afternoon at the world famous Orient Beach on the French side because it always feels as if I am in St. Tropez. Let me know when you check out St.Maarten / St.Martin, in the Paradise called the Caribbean chain of islands. Until next time…

The chic Caribbean fractional ownership destination is now the DR!

So, will you be surprised if I tell you that the Ritz-Carlton is one of the KEY players in the fractional ownership 5-star resorts in the Dominican Republic? Well, hang on to your bathing suits, it’s TRUE! You have probably never heard of Cap Cana either, have you? Cap Cana is one of the best kept secrets in the beach community of the Caribbean. That is where the Ritz is building their next deeded fractional ownership residence resort! What a location - five miles just south of the eastern tip of the DR, with three of the top beaches in the Caribbean!

Cap Cana is also going to be the site of THREE Jack Nicklaus signature golf courses! Cap Cana is expected to be one of the real jewels of the Caribbean! In addition, there is one of the largest marinas in the Caribbean being built right next to one of the most beautiful white sand beaches in the Dominican Republic. How in the world did I miss this one? The Ritz-Carlton Residence Club is to open in 2010 with a two phase $1 billion project. If the Ritz has committed to the DR, more are right behind.

J. W. Marriott Jr., chairman and chief executive officer of Marriott International recently said, “Cap Cana has envisioned a bold luxury tourism and real estate development project that promises to be one of the most exciting new destinations in the Caribbean. We are excited that our Ritz-Carlton brand will be represented at Cap Cana and are hopeful that one or more
of our other hotel brands will also fit in with Cap Cana’s plans for this world class destination.”

Other international resort players who are rushing to Cap Cana are;

• Westin Resorts: beach club, spa, aquatic center, and a Nick Faldo-designed golf course. The 360 varied private residences include beachfront homes, jungle bungalows, and “EcoDream” villas with spa-appointed roof decks. Properties here range from $400,000 to $4 million.
• Trump Faralon Estates: Trump Farallon Estates will include 68 estates with at least 1.5 acres each, all within a gated community high on a bluff overlooking the ocean. But… you’re SOL if you want in on this action; all 68 homes, ranging in price from $3 million to $12 million, sold in a single day in May 2007. Can you believe it? Where have we been?
• The Estates At Punta Cana Resort & Club: Julio Inglesias is one of the key investors that are developing three luxury communities called The Estates which includes La Cana golf course and four miles of unbelievable beaches! “Corales” is the most exclusive of the three communities with 140 home sites at $1.8 million each! Yikes!

This is all happening RIGHT NOW in the Dominican Republic. Where have you been hanging out in the Caribbean? You better hurry up and get to the DR before it gets out of reach as St. Barts has already done to most of the world. I will keep you posted as to the latest developments as I explore other parts of the Dominican Republic. There are still some GREAT bargains left, but not many. Until next time….