Deep Water Cay Sets a New Fly Fishing Record

by Sarah Kirkby | Apr 7, 2014

via thebahamasweekly.com

Pictured is fishing guide Meko Glinton showing off the record breaking fish. (Deep Water Cay Photo)

Deep Water Cay, Bahamas – Deep Water Cay (DWC) recently broke their fly-fishing record with a 14.6 pound bonefish caught by ‘Big Jim’ Easterling, visiting from Texas.

“Everything at the lodge was great! On Wednesday I caught a 9 lb. bonefish while fishing with my guide Joseph and on Thursday I caught a 10.5 lb. bonefish while fishing with my guide Meko,” exclaimed the excited guest Easterling. “That was my first double-digit bonefish! Then on Friday - wow!"

Bonefish fishing is as much of an art as it is a technique, and Deep Water Cay is known for its excellent local bonefishing guides. The guides at Deep Water Cay have helped fishermen to catch many large bonefish, but this catch will now hold the club’s record. Jim's guide Meko is Omeko Glinton, a well-known third-generation Deep Water Cay guide and is the inventor of the famous Meko Special Fly.

Another frequent guest at Deep Water Cay, Jeff ‘Storm’ Harkavy, commented on the new record, saying, “DWC is truly home to many giants! My last day there started off with a couple of 9lb plus fish. Shortly thereafter, I cast to a pair of fish, one being the biggest bone I ever laid eyes on. However, I hooked the far smaller of the two ... a 13 1/2lb beauty.”

'Big Jim' Easterling Showing Off His Big Catch (Deep Water Cay Photo)

Deep Water Cay prides itself on the large numbers and sizes of fish available around the idyllic resort. Bonefish are caught and released on a daily basis at the cay and the resort is a strong supporter of fishing conservancy and of the proposed BNT parks for the area. Bonefishing in The Bahmaas is estimated to bring in nearly $141 million annually to the Bahamian tourism market according to Bonefish Tarpon and Trust.

Fishing has always been an integral part of Bahamian life and it is the soul of Deep Water Cay. Deep Water Cay awards every fishermen with pins for catching a bonefish, be it your first fish or a record breaking fish, it brings such joy to the resort when a record breaking fish is caught.

The entire Deep Water Cay family congratulated Easterling on his record catch and encourage anyone that wants to give sport fishing a go, to make their plans to visit them, and allow their fishing guides to treat them to the time of their life. “We are doing what we love down here,” said Buzz Cox, Deep Water Cay on-island manager. “The season is looking good!”

Got Sand?

Looking for an affordable and fabulous rental apartment in Grand Bahama?

Click here to see more photos of Villas of Lucaya. You could be one of the first to live in these beautiful 2 bedroom, 2 bath apartments with new-everything:  bright new kitchen appliances, granite countertops and modern cabinetry, sleek bath, washer/dryer in every apartment PLUS: a pool, great closets and lovely green golf course views along a quiet cul-de-sac. Call 242.351.9081 to see for yourself. Unfurnished AND furnished apartments available; only 12 available so call today! Located just off Albacore Drive beyond Lucayan Towers South. Close to everything.

Out West in Grand Bahama, The Birding is Great!

Pair of Swallow-tailed Kites at West End pond

via The Bahamas Weekly.com (March 31, 2014)

by Erika Gates

The recent field trip by the Grand Bahama Birding Group to the western end of the island resulted in several "life birds" for members of the group.

Mr. Derek Gape, director at the Ginn development at West End had opened up the property to the birders to survey the many ponds in the area. Among the 40 species recorded that morning, a Northern Harrier Hawk was one of the new birds to be recorded swooping low over one of the ponds

The group then became mesmerized by a pair of rare Swallow-tailed Kites sitting side by side in a Casuarina tree, allowing everybody to get excellent views for at least 15 minutes. One of the birds circled slowly over the birders then returned to its mate!

If you are interested to know all 40 species recorded that morning, please check with eBird (www.ebird.org/caribbean) for submitted observations on March 15th, 2014 for the following locations: Holmes Rock Wetlands, Grand Bahama Westend. eBird is a real-time, online checklist program which has revolutionized the way that the birding community reports and accesses information about birds. Launched in 2002 by the Cornell Lab of Ornithology and National Audubon Society, eBird provides rich data sources for basic information on bird abundance and distribution. If you are not a member of eBird yet, just ask to be registered when you go on the site. eBird will add a new dimension to your birding experiences.

A large number of 83 Royal Terns were observed along the West End shoreline and the unusual sighting of so many birds of that species was even questioned by Cornell University when the group later submitted their observations into the eBird database of that institution! Several photos taken of the terns substantiated the sightings! 

To round off a wonderful morning of birding, everybody enjoyed lunch at Old Bahama Bay's restaurant on the beach. Erika presented two of her annual  "Basic Birding Class" students with certificates of BIRDS OF THE BAHAMAS for accomplishing birding milestones: Marian Chamberlain's life list  had reached 101 species and Michael Flowers's recorded 55 to date! The program is sponsored by the Bahamas Ministry of Tourism and encourages residents as well as visitors to get out there and record as many birds as possible while visiting or living in the Bahamas.

Also, we invite you to get out there, enjoy our beautiful environment, make new friends and learn about birds, just join us on our next fieldtrip on Saturday, May 3rd! We will explore Grand Bahama Nature Tours' trail along Gold Rock Creek as well as Gold Rock Beach and enjoy a light picnic lunch afterwards compliments of Grand Bahama Nature Tours! Meet at Garden of the Groves at 8 am.

Northern Harrier Hawk -

Grand Bahama Birding Group surveying ponds at West End

Swallow-tailed Kite in flight (Photo: Chris Baker))

Marian Chamberlain and Michael Flowers are presented with Birding Certificates by Erika Gates, cert. Bahamas Birding Guide

Large numbers of Royal Terns could be observed along West End shoreline

Birding group along West End shoreline

Erika Gates is owner of Grand Bahama Nature Tours (one of the first Eco-Tour businesses in The Bahamas); co-founder of the Ecotourism Association; a published writer; and a Cacique award winner. Her column Bird Talk enlightens and educate sus about birds of The Bahamas, as well as the importance of Ecology. Erika can be reached at gbntours@hotmail.com or (242) 373-2485.

Introducing Affordable Luxury Rental Apartments—Now in Grand Bahama: The Villas of Lucaya

New Airlift Helps Real Estate on Grand Bahama

Many people look at a glass and say it's half empty and many people look at a glass and say it's half full. Well, whether you are an optimist or a pessimist the reality is that there is something happening on Grand Bahama. If you have been to Port Lucaya Marketplace you will see live human bodies walking around shopping and patronizing the shops. I am not saying that everything is fine in Grand Bahama, but I am saying things are looking better, and there is more to come.

I have always said that we ‘need more Airlift on the island.’ Well believe it or not, there has been an increase in airlift, which for a small island can really help the real estate market and the economy in general. We now have Delta Airlines which flies in from Atlanta Georgia; Sunwing has daily flights from Toronto and seasonal flights from Halifax, Montreal, Ottawa, Winnipeg and Edmonton through April.

In May there will be flights from 8 cities in the US including: Baltimore, MD, Birmingham, Al, Cincinnati, OH, Columbus, Oh, Memphis, TN, Newark, NJ, Raleigh, NC and Richmond, VA. US Airways departs Philadelphia, and Silver Airways from Palm Beach, and of course Miami and Ft. Lauderdale flights.So, now we have airlift which means more and more people will be exposed to the island.

It’s been barely 18 days since Sunwing’s first flight, a flight that brought some 150 passengers to Grand Bahama.  They had a bit of rough start, but the guests had a good experienceand the new resort will open soon.

It is safe to start thinking positively so that positive thoughts can create even more positive actions.

  

The weather has been on our side even more so lately.We barely even had a “winter” this year. Actually,at this point I am starting to doubt we’ll have a winter at all because it feels more like spring time here in paradise.

It’s hard to not mention how nicely the new cruise line activity has been.

How can I not mention the docking effects of the beautiful Costa Luminosa? This cruise ship brought over 2,000 passengers to our island just last month!

I would just like to encourage locals to remain positive. Lots of things are now happening in Grand Bahama.

As for Real Estate, 32 days into the New Year, we are feeling the activity.We are presently receiving inquiries on our web site from buyers, our sales agents are showing property and buyers are making offers again. It is by no means a robust real estate market but there are positive signs that we are on the road to recovery.

So I believe our glass is half full and I look forward to the positive momentum. Let’s all do our part and become ambassadors for Grand Bahama. Together we will all succeed. Until next time …

James Sarles, Broker

Coldwell Banker James Sarles Realty

Looking for Musical Instrument Donations for Columbus House Big Brother/Big Sister Youth Mentoring Program

Rotary Club Of GB Sunrise Big Brother/Big Sister Youth Mentoring Program for Columbus House music program is in full swing now. Thank you Steve Persaud, Marina Gottlieb, Larry Lewis for donating their time to bring music to their lives. Following Jujitsu with Professor Moss at Jaguar School of Juijitsu every Saturday, it's … Music Time!

Thanks to all who donated guitars to the program. We are now looking for an electronic keyboard, bongos, or any used instrument you have. The kids want to start a band! Please call Jamie Sarles at 351-9081 or 727-8888 and I will pick up the instruments.

The Music sessions have been really fun as you can see on their faces. These at risk kids who have been abused and abandoned need activities like this to make their life richer.  Watch the video below and you will know that "Every Little Thing is Gonna Be All Right …"

Please share this post by email or Facebook with anyone you think might be able to help.  THANK YOU!!

The Greening of Grand Bahama

via Paula's Paradise:    It's the last Saturday of the month—and that means it's time for Grand Bahama's Farmer's Market, known as "Da Farmer's Market" at the Bahamas National Trust Rand Nature Centre from 9 am to 1 pm each month (and possibly more often during the warm winter season!). You'll find a small assortment of organically grown produce, fresh herbs, seedlings, fresh-from-the-henhouse-eggs, plus homemade jams, jellies and sweets.

Even exotic fruits can be found, such as these locally-grown Dragon Fruit, which have a marvelous fuchsia color and taste mildly sweet, like a kiwi fruit:

The market also has a small selection of ever-changing locally made arts and crafts ...

handpainted stones by artist Shanin Hughes

The Farmer's Market is just one of the signs that Grand Bahama is becoming greener. I'll tell you more about local entrepreneurs who are providing fresh green menus, vegan foods, and even a local organic farm in another post …. right now I'm ten minutes late for the opening of "Da Market" … see you there!

—Paula Farrington
SCHEDULING NOTE -- Da Farmer's Market is usually the last Saturday of the month but was moved up in December because of the holidays—so it's not today! Check "Da Farmer's Market" on Facebook for dates in the coming months …. looking forward to more green goodness here in our warm winter tropical paradise!—Paula

CLICK HERE FOR SANTA BABY VIDEO

Columbus House Christmas

Hi All,

As many of you know, Rotary Club Of GB Sunrise runs a Big Brother Big Sister Youth Mentoring Program for Columbus House.  The program which has been running for over 15 years and focuses on the boys and girls ages 14 -1 7 who have been placed in Columbus house by Social Services to protect them from abusive and unacceptable living environments. The main goal of the Rotary Program is to provide positive adult role models and opportunities for healthy interaction outside their immediate environment. We have seen very positive results from this very valuable program.

The activities include:

Weekly Martial Arts Instruction and life skills

Weekly Conflict Management sessions with Rev Carey

Weekly Tutoring Programs

Individual Mentor Program with Rotarians

Monthly Group Activities

Transportation for all activities

Job Program for residents when they age out of the system

Christmas Gift Program

As Christmas is around the corner we are working on raising funds for

Christmas Trees, Christmas Dinner  and Christmas gifts

for 17 children aged 12 - 17  (6 boys and 11 girls).

I know there are many people asking for donations this time of year

but  we can't make it a Merry Christmas without your help.

Please drop off donation checks to James Sarles Realty offices (#9 Regent Centre), give checks to any Rotary Club Of GB Sunrise Rotarian or send us a PayPal donation to jamessarlesrealty@gmail.com.

Please forward this post to all your friends who may be interested in helping.

Thanks for your help,

James Sarles

Featured Listings: Great Deals that Won't Last Long!

Let's Talk Real Estate with James Sarles: Will Sunwing Help Our Real Estate Market?

WILL SUNWING HELP OUR REAL ESTATE MARKET? 

It looks like Sunwing is really coming and that's good news for the Grand Bahama Real Estate Market.  I drove by the old Holiday Inn (Reef Village) recently and saw containers arriving and lots of activity. The owners of the hotel are spending a lot of money preparing the "new hotel".  According to Sunwing's website "Starting January 16th, 2014, they will be offering weekly winter service from Halifax, Montreal, Ottawa, Winnipeg and Edmonton to Freeport, Grand Bahama, along with year round flights from Toronto. They are introducing a the brand new Memories Grand Bahama Beach and Casino Resort, a 4 1/2-star all inclusive family-friendly resort located on a pristine stretch of white sandy beach."

This is great news for Grand Bahama because we have a chance to move forward again with thousands of new people coming to the market to see our beautiful island. If they like what they see they will want to spend more time here and that will have a direct positive effect on the Real Estate Market.  New People means New Potential  Buyers. The key will be if they like what they see and experience good customer service. So Grand Bahamians we have a chance to get things moving again BUT ultimately its up to all of us to make their experience a good one. If you are a property owner please take pride in your property by sprucing up and cleaning up your yards. If you are a business owner please make an effort to tidy up the look of your buildings. If you own a building that you have let go derelict have some consideration for all of us  living here and clean it up, fix it up, or plant landscaping so it does not look like a ghetto.  If you know the owners of these derelict buildings say something to them because they are hurting our chances of recovery. I hope the GBPA steps up to the plate and forces these owners to clean up their act because the first impressions of all of these people coming to Freeport will make or break the market.

There is a classic children’s story about Chicken Little—a character who is hit on the head by an acorn and proceeds to run with his friend Ducky Lucky and others to tell the King that “the sky is falling… the sky is falling!”

If you talk to people around Freeport, or listen to the daily onslaught of mainstream news, you probably agree with Chicken Little that the sky is falling when it comes to our economy.  If asked about real estate prices on Grand Bahama, Chicken Little would tell you that “the Sky is Falling”, and everyone’s house prices are falling so don’t sell or don’t buy. We have many Chicken Little messengers on the island that think Grand Bahama will never get out of its current slump, and that the housing market will never recover—nothing could be further from the truth and Sunwing could be the start of this recovery.  Here’s another way to look at it:

There are 2 important points to consider regarding our current real estate market.

One. Unlike our neighbors to the North, we never really experienced the boom market, which created the American housing bubble. In 2008 when the US housing bubble burst and many homes lost almost 50% of their value, sleepy Grand Bahama prices did not move very much— because they had never soared that much—and so they also did not come down that much either.

Two. We seem to forget that real estate follows a cycle; we forget that history repeats itself. Its like we all have amnesia and we have never seen down markets before. There is a saying that what goes up must come down, and what is down must come up.  Real estate is no different. There were major shifts or down real estate markets in 1979, then 1987, then 2008.  According to top economists, we are slowly (very slowly) recovering and the markets may stay flat for a while, so we are in a new paradigm—a new model for growth. Our neighbors across the pond will tell you that the market is recovering. Our Bahamian Neighbors will tell you that their markets are recovering as well. And with Sunwing bringing thousands of people every week to GBI we will have new potential buyers in the marketplace which is good for the real estate market.

It’s All About Timing

If you wait for the markets to hit bottom or fully recover you might be waiting a long time. Prices don’t really go up or down for logical reasons. Sellers and buyers change their minds based on their confidence in the marketplace—that’s what really causes prices to go up and down. Unfortunately, no one can tell you exactly when we reach bottom, because when the market prices begin to rise, it’s only then that you realize you missed the bottom!

There is no doubt in my mind that if you are looking for motivated sellers and deals in real estate, this is the time. It’s one of those times when the aggressive people make a lot of money, and the more timid just look from the sidelines and become what I call a “Would of, Could of, Should of” seller or buyer.

If you are a potential home buyer, condo buyer, duplex buyers, land speculator, canal home buyer, or commercial buyer get up off your seat and look around for deals. The market is soft right now, so this is the time to get a terrific value at the right price. Listing prices have not fluctuated on paper, but the actual deals that are being made reflect reduced prices.

No one knows for sure what is in store for the world economics, or Freeport, but what we do know is that throughout history, real estate has proven to be a great long term investment. While prices are down and sellers are motivated, this may be the right time for you. If you have been thinking about real estate, this is the time to get out there and start looking. If you are a seller, get your property ready because  Sunwing will soon be bringing thousands of Canadians to the Memories Grand Bahama Beach and Casino Resort and hopefully many of these people will be interested in Real Estate that's priced to sell.

Shift Happens

Freeport is a city with great potential. It will move forward. Sure we could improve on quite a few things, but it only takes a series of small changes to make a major shift. If we fix things like the airlift situation, create a first class cruise port, develop medical tourism, create more jobs, attract more investors and visitors, beautify the island’s landscaping, and have all of Freeport working together, these changes will create a major shift in the economy and Freeport will be reborn.

This will of course change the real estate landscape, and the market could change from a buyers market to a sellers market almost overnight. There are many people working towards this change and we all need to pitch in to help our community fulfill its promise. It will not be done for us. All of us in our own small way must make it happen—and it will.

It is time to bring the magic back to Freeport—a community that was once proudly dubbed The Magic City. At Coldwell Banker/James Sarles Realty, we believe in the future of Freeport.

Good Luck with your property hunting. Until next week,

James Sarles, President
Coldwell Banker James Sarles Realty

Sunwing Announces New Direct Flights to Grand Bahama This Winter

TORONTO, ONTARIO--(Marketwired - Aug. 16, 2013) via marketwire.com

This winter, sun seekers, golfers and families can escape to Grand Bahama courtesy of Sunwing as the tour operator announces new direct service to this island paradise from 6 cities across Canada. Starting January 16^th, 2014, Sunwing will be offering weekly winter service from Halifax, Montreal, Ottawa, Winnipeg and Edmonton to Freeport, Grand Bahama, along with year round flights from Toronto. Customers booking their winter vacation by August 31^st can take advantage of price protection with Sunwing's Price Drop Guarantee and pay a reduced deposit of just $50 per person.

Sunwing offers a great selection of Grand Bahama hotels at introductory prices, including the brand new Memories Grand Bahama Beach and Casino Resort, a 4 1/2-star all inclusive family-friendly resort located on a pristine stretch of white sandy beach. Memories Grand Bahama offers an impressive array of all inclusive services and amenities including free unlimited green fees at the Reef Club Golf Course, designed by Robert Trent Jones (mandatory golf cart not included). Guests can also try their luck at the onsite casino, or stroll around the nearby shops and markets. Vacations to Memories Grand Bahama Beach and Casino Resort start from just $995 +$350 taxes for 7 days, departing from Toronto on January 18^th, 2014.

All Sunwing Vacations direct flights and packages to Grand Bahama include "Champagne Service", which features hot towel service, a choice of hot meals at lunch and dinner served with a choice of wine, and complimentary in-flight entertainment, including first run movies, as well as a generous 20kg baggage allowance. For just $40 more per flight segment, travellers can upgrade to Sunwing's Elite Plus service, which features advance seat selection, separate check-in at a majority of airports, advance boarding, 30 kg baggage allowance, and extra legroom seats.

For more information or to book your Grand Bahama vacation, visit www.sunwing.ca or contact your local travel agent.

The Emotional Side of Real Estate

Emotions play a big part in life—and that’s also very true in real estate transactions. It’s not always only about the number of bedrooms and the price. A real estate transaction can involve feelings of joy, anger, love, hate, sadness, disgust, surprise, expectation, anticipation, just to name a few. As real estate brokers, our job is part business consultant and part psychologist.

When you want to sell your property, you call a real estate agent who meets with you and “takes a listing”. The agent asks the Sellers to put their emotions about the value of the property on hold, and allow the agent to be objective in appraising their home and arriving at a realistic listing or selling price. Can you really put your emotions on hold? Probably not, but we ask you to try to look at the property with the fresh eyes and analysis the marketplace requires so we can all be objective. A competent agent will factor in the condition of the property, where it is located, what properties with similar features in the same area have sold for, and what other properties in the same area are listed for. Brokers will recommend that sellers spruce up their home and get it ready for market by making minor repairs, painting, and staging.

All of this work sometimes leave the Sellers emotionally drained, feeling they are no longer the King of their castle, and with it, a lot of emotions about selling their beautiful home arises. The house to be sold is not just bricks and mortar, but a sacred space where kids have grown up and many of life’s milestones and memories have been created.

On the flip side, the agent will begin marketing and promoting the home and look for a potential Buyer to connect with the property emotionally—someone who want to make an offer. A Buyer's response to finding their “Dream Home” is often an emotional one as well. If it is a “Sellers' market” there may be multiple offers, which can make the purchase an emotional roller coaster from the Buyer's perspective. If it’s a Buyers’ Market the buyer has a lot of choice, which can be a bit overwhelming as well. Part of the Buying process is a give-and-take with see-saw, balancing what you want, what you need, what you can afford, and what the banks will approve. So, to complicate matters a real estate transaction involves some aspect of negotiation with price, terms—or both­­­—which involves emotion again.

Some buyers and sellers love negotiation and see it as a game of winner-take-all. Some people dread it. And some just deal with it as a means to the end. Things can begin to go bad when people let their emotions enter into negotiations, which happens often in real estate sales. The worst situation possible is when the buyer and seller start negotiating like a sparring partner. They completely lose track of the goal (to buy or sell the home) and start to see themselves in a Rocky movie, trying to win the title fight. They overlook large items that should be important to them, and focus on smaller things that have gotten under their skin. They focus on the fact that the seller wants to take the curtains, or the built-in coffee maker or won’t fix the leaky sink. All of these items are a fraction of a percent of the purchase, but they can’t get beyond it. So, to help you through one aspect of the Emotional Roller Coaster here are 8 tips to take the emotion out of negotiating.

1) The most important thing you can do as buyer or seller is negotiate with YOURSELF, not the other side. Figure out the most you are willing to pay for a home including any repairs, replacing items the seller might want to take, and negotiate to that point. (And conversely, if you’re a seller, negotiate with yourself on the least you are willing to accept in selling the property, knowing which items you’re willing to sell, and which items are open for negotiation.) Ignore the perceived pettiness of the other side and don’t let your feelings for the other side’s behavior and negotiating tactics blow your deal. Keep coming back to negotiating with yourself.

2) Remember, you only have to deal the buyer or seller for 30-60 days, after that the home is yours (or you have moved on) and you never have to deal with them again.

3) Stay focused on the property and your deal with yourself, and tune out the white noise of the other side.

4) See their demands and counters as pawns which are a means to get to the end of the negotiations. Some are disposable and will actually be used strategically to get you what you want in the end.

5) Stay focused on the property and the total deal.

6) Use your Realtor to run interference, this helps diffuse some of the emotion, and keep things moving forward.

7) Wait to respond. Sometimes people respond out of emotion and they think better of it later. If your contract gives you a deadline, don’t feel that you need to respond prior to then; let all the possible outcomes come to light before you answer. Don’t negotiate from emotion, but rather as a form of strategy.

8) Stay positive and visualize the outcome of a smooth closing.

Good Luck to all you buyers and sellers. Stay Calm and use the tips to keep you sane. Until next week …

James Sarles, President & BrokerColdwell Banker James Sarles Realty

Is This the Right Time to Buy Real Estate?

In William Shakespeare’s play, Hamlet, written in 1600, Hamlet asks the question TO BE OR NOT TO BE, as he questions the meaning of life. If Hamlet lived in Freeport, Grand Bahama, some 400 years after asking that famous soliloquy question, he might now ask a classic real estate question: TO BUY OR NOT TO BUY?

Many people have asked themselves this question, especially as the world economy slowly recovers.  While each option of renting or owning has its benefits, the decision to purchase a duplex, condominium, or house (as opposed to renting) is complex and based on a number of factors. Nearly everyone believes buying a home today is a good financial investment. The question that remains is whether or not NOW is the right time to purchase a home for YOU!

For most people, deciding to purchase a home is the largest financial decision of their lifetime. Before making the jump into home ownership, potential home buyers should consider the “soft” lifestyle issues as well as the “hard”  financial ones. In Rotary, we have the 4 way test. Is it the truth? Is it fair for all concerned? Will it build good will and better friendships? Will it be beneficial for all concerned?, and in Real estate we have four financial and lifestyle questions to consider when determining if buying a home is the right decision for you:

1. Do you have a steady income? At or near the top of every potential homebuyer’s mind is whether or not they can afford to buy a home right now. Buying a home remains a sound financial decision for those with documented income and a good credit history, and a steady income can provide a strong backbone for the initial down payment and future mortgage payments. Don’t hesitate to speak with your real estate broker to determine all the “other” costs of home ownership such as insurance, pool maintenance, power, cable, water, gardener, general upkeep etc etc. Your real estate broker can help you answer and uncover questions about the cost of home ownership. Make sure you are know what your monthly operating costs will be including your other living costs so you can budget properly. Don’t fool yourself.

2. Do you plan to stay in a home for an extended period of time? With proper planning, a home purchase has historically proven to be one of the strongest investments one can make. Along those lines, it’s imperative to understand that investing in a home is much different than investing in a stock portfolio. Homes typically appreciate in value over time while the owner builds his or her equity through monthly mortgage payments. If you anticipate staying in a home for only one or two years, it doesn’t necessarily mean buying is not for you, but you are less likely to see a significant financial return on your investment. Based on the current market and our closing costs you should be prepared for a long term investment otherwise it does not make sense. Remember that you will be responsible for ½ the government stamp tax ( 2% to 5% based on the price) and your legal fees of approximately 2.5%. So when you buy it could cost you 7.5% in closing costs and when you sell it can cost you up to 13% so you have to factor that in your calculations.

3. Do you plan to sell a house in order to buy a house? Your local real estate agents can help you understand current local market conditions and will help you make smart decisions when listing a home on the market. If you do not currently own a home that needs to be sold prior to purchasing a new one, now is a particularly smart time to buy. Even though local banks are more thorough in their approval process, mortgage financing is still widely available for those with a steady income and solid credit. High inventories and low interest rates give first-time homebuyers a tremendous amount of opportunity and flexibility in our market. Remember, 1st time Bahamian buyers can get an exemption on the government stamp tax. You still have to pay it but you will get it back from the government.

4. How do your other options compare? For renters, calculating month-to-month housing expenses is as easy as inquiring about the monthly rent and average utilities. The calculation gets a bit more complicated when considering the monthly cost of owning a home. A real estate professional can help you understand a range of financial considerations from annual service charges, to hurricane insurance, to property taxes if you buy out of the “bonded area”. And in 2015, we might be faced with property taxes like Nassau. And soon we have to see how VAT (Value Added Tax) factors into the Real Estate equation.

There is no one right decision when it comes to renting versus buying a home. Each individual should take the time to look at their personal and financial situation to decide what will work best for their needs and lifestyle.  To Buy or Not to Buy — that is the question.

Until next time,

James Sarles, President & Broker
Coldwell Banker James Sarles Realty

Was The Magic Back in Freeport for A Night?

Last Saturday night, thanks to the combined efforts of Rotary Club of GB Sunrise’s Cigar Nights at Pelican Bay, the Grand Lucayan Hotel’s Soca Concert with Alison Hinds, and Neptune’s Nightclub, the magic was back in Freeport for a night. Yes it was only a night, but it was an evening that found Freeport extra-alive, energized, and enthused—as if awakened from a long sleep.

It all began when 400-plus people attended a wonderful vintage Havana-themed evening to benefit Rotary Club of GB Sunrise’s Big Brother/Big Sister and community projects. There was great food, a super jazz group with Ralph Munnings, Patrick Boston, Les Lewis, Clarence Green, and Mikki Gottlieb, salsa dancers, an expert Cuban cigar roller from Graycliff in Nassau, music video shows, salsa dancing, cigar smoking on the balcony, laughter, and just plain fun.

The crowd was dressed beautifully, with many in Guayabera Cuban shirts and Fedoras. Nikki Waugh from UNEXSO was so clever, she even brought in the Guayabera shirts and Fedoras to sell so people would not have to look far for these themed shirts. People from every walk of life in Grand Bahama came to support this charity event, and Pelican Bay’s Canal House was transformed into a very cool Latin hot spot. People mingled, laughed, danced and partied with a beautifully alive and sexy energy that was very today, and at the same time reminiscent of both old Havana and Freeport’s more glamorous days. The crowd, all local and part time residents, were having a great time partying—and the good times did not stop there. After a great event, and with midnight approaching, many joined other Grand Bahamians for a special concert by the Queen of Soca, Alison Hinds, and partied to the wee hours of the morning. Many continued and went for a nightcap to Club Neptune’s, where the dance floor was packed and people lined up at the door.

So, what does all this have to do with real estate? EVERYTHING. A vibrant nightlife and variety of places to gather, dine, and enjoy music and entertainment is a key factor—an integral part of the magnetism—that draws people from all over the world as both visitors, and, as residents.

In the good vibes of last Saturday night, it was wonderful to see a glimmer of what Grand Bahama’s magic could be again. The energy was there, and energy is what it takes to get the magic back. In the 70s, Freeport had 4 nightclubs, 2 casinos, and a wide range of activities and venues that supported the population of visitors and residents, and showcased the entrepreneurial spirit that built the island into a destination.

Sunwing International’s investment in creating a five-star all-inclusive resort, scheduled to open in November, could be the beginning of re-building Grand Bahama into a new hub. The 1,000 people their Blue Diamond service will bring to the island each week will be looking for places to have fun—places with well-thought-out service and imaginative themes that I know our local entrepreneurs can provide with equal parts flair and finesse.

The possibilities are there, and very real. It will take everyone’s best efforts for a new Grand Bahama magnetism to emerge: from the big players such as the hotels, to longtime and budding business owners who can bring bright new ideas forward for great clubs, restaurants, unique shops, and don’t-miss events.   

Grand Bahama will prosper. The economy is steadily improving in the US and new people will be slowly coming to Freeport again. It may be small numbers at first, but we need to make sure everyone who visits or explores our shores has a fabulous time and tells their friends and family about it so that we can grow. That’s all that it will take: a small, consistent, but powerful, domino effect. So let’s be especially kind to each guest, and give the best service we can so they will stay and return. Let’s create activities so people will want to be an ongoing part of Grand Bahama’s friendly party, and look to find a second home here.

No one will rebuild Grand Bahama magically. We will recreate and enhance our inherent magic by combining all our energies and doing it for ourselves, like Rosie and George at Neptune’s. They took a chance and built a nightclub to prepare for the future and to give our guests and locals something to do. 

Together, we can spread the word about the amazing opportunities Grand Bahama offers, and can do our best to prepare for a recovery—an economic upturn that many experts say is already happening in the U.S. Will you be ready? Tune in next week for some simple tips and strategies for getting a “sold” sign on your house.

And in the meantime, here’s to the magic Grand Bahama Island holds—and the practical energy we each can share in making that dream a reality.

Until next week.

James Sarles, President
Coldwell Banker James Sarles Realty