barbados property news decjan 2013
DESCRIPTION
Property and Real Estate MagazineTRANSCRIPT
BARBADOS
www.barbadospropertynews.com • December 2012 - January 2013 • Issue 84
Endorsed by the Barbados Estate Agents and Valuers Association Inc.
‘Dare To Dream’,Alleyne Real Estate - Page 15
West Coast Villas - Page 10
Caribbean Island Properties - Page 17
Musson Realty - Page 35
PROPERTYNEWS
FREE&
ONLINE
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Welcome to our festive edition of Barbados Property News and whether youare here on holiday, a returning national or a local reader we wish you peace,love and happiness throughout the season and beyond.Barbados has always held the Christmas Festival on a pedestal and despitethe commercialism in modern society we have been lovingly retained manyof the traditional values down the years. Visitors may not associate sand, seaand sunshine with a conventional Christmas back home, but they willappreciate a unique atmosphere that gives appreciation and dignity to the realmeaning of the season. We exchange gifts,we go to church, we celebrate with family andfriends and we still find time to get to thebeach on Christmas Day! Who could ask formore?Such occasions highlight our unique
lifestyle and perhaps explain why so manyvisitors buy second homes or retire to the
island and why the number of returning nationals continues to increase.We have something very special, even in tough economic times. We alsohave something very special in this edition of Barbados Property News aswe have our annual Christmas Gifts feature and a host of property to buyor rent, property products and property services.Finally, a huge thank-you to all our readers both in hard copy and
electronically all around the world and to our loyal and devoted advertisers.Best wishes over Christmas and a happy and prosperous 2013. Enjoy!. Pamela Hiles - Editor
Editor’s Comments
If you would like to advertise in Barbados Property Newscall Pam at 228-9122 or 232-0692
Publisher – Hiltop Publications Ltd,11 Cottage Ridge, St George, Barbados,BB19071Tel (246) 228-9122, Fax (246) 228-0243Email: sportingb@caribsurf.comwww.sportingbarbados.comwww.barbadospropertynews.comwww.caribbeanpropertymag.comwww.caribbeanmortgageservices.com
Editor/Advertising – Pamela L Hiles
Design and Art Direction – 809
Distribution – Hiltop Publications Ltd,
Printing – Coles Printery
The Material and editorial contained in thispublication have been deemed accurate at thetime of going to print. The views expressed aseditorial are those of the Editor unless statedotherwise. No part of this publication may bereproduced without the consent of thepermission of Hiltop Publications Ltd.
On the cover: ‘Dare To Dream’
www.stpetersbaybarbados.com • [email protected] • Telephone: 246 419-9601
Whatever makes you smile, you'll find it at Saint Peter's Bay. We take care of everything so you can take time for you.
LU X U R Y R E S O R T A N D R E S I D E N C E S
Realtors have recently celebrated 60 years of existence and forChairman Nick Parravicino it has been a wonderful journey.Affectionately known as “Mr. Nick” the Grand Old Man ofBarbados real estate bought the two-years old firm in 1954 withhis late and much-loved wife Sheila, and they never looked back. Realtors is a success story that will continue for many yearsbecause it has been built around a highly-respected family anda dedicated staff that have played their part in growing the firm.Mr. Nick’s late son Michael played an important role in thecompany’s development until his untimely death in 2002 andhis grandson Bruce and his wife Maritza will be part of anexciting future. Maritza has just set up the company’s newdesign studio Vida Bella Inc. highlighting another direction forthe company. Michael was the driving force for many years andpiloted the move to the current location at Holetown, justopposite Lime Grove. Unbeknown to him at the time, it hasproved wonderful vision as Realtors is now in the hub ofBarbados West Coast commercialism. The Realtors team now numbers over 30 staff with Bruce
Parravicino Head of Property Management and Villa Rentals. Hehas added a refreshing vitality to a company that prides itself onhaving a long list of loyal clients going back many years. Mr.Nick may be easing himself out of the frontline, but he missesnothing and he remains as sharp as a beaver on everything and
anything happening inBarbados real estate.He’s an endearingpersonality and an iconin the local industry.
Another significantchange going forward isthat long-serving Head ofSales Suzanne Davis willformally take over theSales, Long-Term Rentalsand Valuations as themajor shareholder andManaging Director of anew company RealtorsReal Estate Limited under the umbrella of Realtors Limited.Many people will see this as a seamless change as Suzanne hasbeen with the company for over 25 years and worked for a longtime as Personal Assistant to Michael and then managed thebusiness for many years. Time doesn’t stand still, but after 60 years Mr. Nick and histeam can stop and draw breath and look with pride on what hasbeen achieved by this highly respected company.Roll on the next 60 years!
Realtors -Dawn of a New Era
30
From left to right - front row: Luther Miller, June Haynes, Alison Gill, Maritza Parravicino, Mr. Nick, Maria Evelyn, Natasha Chandler, Nicola Birkett.Back Row: Bruce Parravicino, Christine Field, Tammy Browne, Susie Ray
Suzanne Davis
Sir David Seale and Mr. Nick Emmerson Neblitt, Bruce and Maritza Parravicino
Sean Parravicino, Mr. Nick & Bruce Parravicino
Mr. Nick & his sister Noreen Patterson Roger Parravicino, Suzanne Davis & Gavin Parravicino
Trends in the Home MarketWe can all agree that the housing industry
has taken a beating the last few years. We canalso say with a bit more confidence now thatthere is some light at the end of the tunneland those in the industry say, for the mostpart, that they are beginning to see a slightincrease over the last few months.We would not be surprised to learn that
this extraordinary recession brought with it a need for potentialhomeowners to curtail many of the ‘extras’ that buyers pre-recessiontimes desired, before things plummeted.Today as the new word ‘flexibility’ has entered their conversations,
clients are asking agents to look for, and are requesting architects todesign a home with rooms that serve multiple purposes and which canaccommodate either aging parents who may move in with you or aginghomeowners themselves, or designs that can accommodate “childrenreturning home to nest.”Here are some of the current trends in the real estate industry, which
a potential homeowner may have on his or her mind.
AccessibilityEasy access is big and likely only to get bigger, as it’s an aging-related
concern. This generation of homebuilders is thinking about what theirhomes need to look like if they're going to stay in them as they advancein years. For one thing this means that some are opting for single-storyhouses or properties with fewer stairs.
A bigger garage — for everything but carsNot that long ago, we were designing our homes with garage spaces
to accommodate our cars and SUVs. Now aren’t we making more roomin the garage for everything else but what the garage was built for in thefirst place? We accommodate so much and simply dump them in there:tricycles, the old refrigerator that we don’t want to part with, golf carts,treadmill, weights, old books…
The multi-functioning spaceWe want homes that are more flexible in design, more versatile.
Rooms dedicated to one purpose are less popular now and as homesizes become smaller, people are forced to find multiple ways in whicha room can be used. We may ask our agent to find a home for us with a nook where you
can place a desk, a small printer, which allows for room for a laptop andso on. Some of us have coming to terms with the fact that we don’t
really need this huge den/office anymore, that we had in our ‘dreamhouse’ design. Most of us now use a laptop or ipad now anyway andso, oftentimes these ‘spaces’ can be created close to the kitchen wheremom can finish her report for the office or where the children can dohomework while mom or dad cooks dinner. It’s also a great space inwhich to just organise chores like bill payments.
Choosing A Home That Suits Your Everyday NeedsOur final decision on a home ought to be one that easily accommodates
the way we live our lives and the way we use our homes. For example:• Laundry. A number of designs have direct access to laundry rooms,or should we say, mini-laundry rooms. A Barbadian architect oncedesigned a set of townhouses with the laundry room upstairs, completewith washer, dryer, large sink – this makes exceptional sense as it’s inour bedrooms that we accumulate most of, if not all of our laundry, isn’tit? Another option is a laundry alcove that's right in the master suite,where it's easy to use and if you wish to get really creative and if thedesign allows, a laundry chute has been known to be installed as well!• Huge pantries. We tend to do quite a lot of bulk buying and it makesperfect sense to have a large pantry-type space just off the garage wherefamily members can store all the items they bought in bulk.• Drop zones. Never heard of this term? Maybe not, but you do usethem, you just probably have a different name for them: these ‘zones’are usually found near the kitchen and are dedicated to dropping offour cell phones, keys, handbags, briefcases, mail.
The house that flows We’ve all heard of this trend that has gained immense popularity over
the last several years. Several home builders now lean towards this ideaof open plan living.The most obvious example is having a continuous space which in
essence extends from the kitchen to the dining area to the living area. By losing the walls and corridors, there’s an illusion that the house
is actually more spacious. These are just some of the creative ways homeowners – be they first
or second time purchasers – are looking to spend wisely when it comesto finding, and more importantly, affording their dream. Downsizingmay be what we all need to do, but we need not be forced to take thefun out of what should be one of life’s most important decisions.Happy house-hunting!BEAVA Inc. wishes you and yours the very best for the season and a
prosperous New Year!Please visit our website beavainc.com to view our listings. You may alsoemail us at [email protected] or call us on (246) 836.0650.
The Barbados Estate Agents andValuers Association (BEAVA)
Property Sales / Holiday Rentals / Long Term Rentals / Property Management / Appraisals / Consultancy
Office :(+1 246) 432-7124 Cell :(+1 246) 262-8093 Web: www.churchfieldRealEstate.com Email: [email protected]
Los Micos, St James FOR SALE
Large two-storey house with 3 bed, 2 bath, garage & separate 1 bed apartment. Breath taking coast views, in a quiet, breezy, cul-de-sac on 8,848sqft. **REDUCED** US$ 425,000 Ashanti Condos, St Peter FOR SALE
5 bed Penthouse, great location, panoramic sea views, high-end finishing, private pool, private elevator and lush gardens. US$1,300,000 Villa Victoria, St Peter FOR SALE
Single storey, 3 bed 2.5 bath, detached house with glorious views, pool and separate studio / apt on 2 acres of mature land. US$ 1,300,000
Land for Sale Redmans Village opposite gas station, 7,151sqft St James, US$144,000 Welches Terrace, 11,875sqft, quiet road, St Thomas US$155,000 Westport, 30,000sqft, quiet cul-de-sac, St James US$300,000 Coral Cliff, 23,000sqft-overlooking west Coast and PSC, St Peter, US$400,000 Various lots for sale in St Peter & St George
Neils, St Michael FOR SALE
Large 5 bed 2.5 bath detached house on approx. 2 acres of land in need of minor repair. Close to transport links. US$ 645,000
Looking to Buy / Rent / Sell Call (246) 262 8093
Visit our new location
Church Point, Holetown, St James. (Opposite St James Parish Church)
Gurland Hse, Sandy Lane, St James FOR SALE
This luxury Sandy Lane villa has 4 bed, 4.5 bath on 2 acres of mature land overlooking golf course & sea. Includes a gym, games room, salt water pool, fish pond, beach cabana. US$4,500,000
Investment Properties for Sale Rendezvous Ridge, Block of 4 x 2 bed apts Christ Church US$ 450,000 Sunset Crest, Block of 5 x 2 bed apartment. St James US$ 900,000 Large 5 bed 5-bath house & views St George US$1,975,000 Porters, 3 bed 2.5-bath, communal pool, 2 min from sea, gated, St James US$ 600,000 Mount Standfast, villa 4 bed, 4 bath, Private pool, sea views, St James, US$1,300,000
SHARA, St George FOR SALE
Large 3 bed 2.5 bath traditional Barbadian coral stone house, with large basement, garage, entertainment patio, on 69,957sqft of land. Stunning east coast views. US$ 950,000 Bishops Lodge, Christ Church FOR SALE
Single storey 2,900sqft luxury villa, 3 bed, 3.5 bath with pool, located in quiet and breezy Durants overlooking golf course. US$1,200,000 Vuemont, St Peter FOR SALE / LONG RENTAL
Modern 3 bed, 2 bath detached villa in gated community with communal pool, tennis court. Gym, stunning country & sea views. US$ 392,500 / US$1,300 per month
Long Term Rentals Southern Heights 2 bed 1 bath ground floor apt. f/f, Christ Church US$ 650 Prospects, 2 bed, 2.5 bath condo, shared pool, sea views, 1 minute to beach, f/f. St James US$2,500 Sugar Hill, 2 bed, 2 bath, tennis, com pool, f/f, St James US$3,500 Sandy Lane, 4 bed 4.5 bath, Gym, pool, sea views, cabana, f/f, St James US$7,500
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Natz
1. Rustic ChampagneFestival Hurricane$38.422. Selva Hurricane$132.983. Vintage FragranceTray $59.104. Large DecorativeJewelry Box $91.94Small Decorative JewelryBox $73.555. Taupe Ceramic FlowerVase - Range in pricefrom $27.91 - $42.69
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Walkers World
1. Rollins Reed Diffuser$89.95 & TrelllisPotpourri $59.952. Chevron Ipad Case$89.953. Cookbook Stand$69.95 & Ching HeHuang Wok Set $159.95
ChristmasMarketplace
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Dwellings
1. Holiday 2012 GourmetJam Tree $49.952. Lenox Oversized 5 PceServing Set $99.953. Luna Photo ArtDisplay $149.954. Lenox PorcelainVotive Holders $29.95each 5. Cuisinart 4-CupChopper Red $229.95
Liliplum
1. Leapfrog Touch MagicRockin’ Guitar - $89.952. LEGO Creator Blue
Roadster - $69.953. Barbie The Princess &The Pop Star Lead Doll -
$99.954. Leapfrog Leappad 2 -
$399.95 (show in pink andgreen)
5. Style Me Up SequinLoop Earrings Kit - $14.95
Christmas Marketplace1
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Gajah
1. Wood candle stickholders $49 and $592. Sea motif candlestands - $114 -s, $125 -L3. Large butterfly -walldecor - $1644. Starburst with pearlinlay - $2595. Colorful birdhouses -$79
Accents & Decor
1. Metallic Tree (WallArt) - $245.2. Silver Shell Bowl -$1653. Diamanta Lamp -$4004. 5-Piece AcrylicCanister Set - $1105. Flower Mirror - $756. Ice Bucket with Scoop- $120.
Christmas Marketplace1 2 3
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Christmas Marketplace
DB Home
1. Gold Yin Vase - BDS$755.002. Double Lantern - BDS$ 259.993. Botanical 2013Calender4. Gold Garden Stool -BDS $475.00
Archer’s Hall
1. Murano Glass LetterOpeners - $32.90 Bds
Vat Inc.2. Raffia Cross Weave
Photo Frame - $126.80Bds Vat Inc.
3. Va Bene Cheese KnifeSet - $76.38 Bds Vat Inc.
4. Lauderdale Shell &SeaHorse Bowls -
$138.32 Bds Vat Inc.5. Jewelled Fish Boxes -
$82.25 Bds Vat Inc.6. Seaside Figural
SeaHorse Pillar Holder -$144.08 Bds Vat Inc.
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Christmas Marketplace
Carters
1. Tea Lite HolderButterfly Decal in Lilacor Green - $25.872. Family Clip PhotoHolder - $51.553. Hanging Blue CrackleGlass Candle Holder -$118.15 Also available inClear Crackle glass4. Hurricane CandleHolder Jeweled inAntique Silver - $27.825. Silver Leaf 5x7 PictureFrame - $81.856. Aluminium BoatOrnament - $75.34
Sort Your Stuff
1. Wall-Mount WineRack- $157.73 (on sale)2. Bamboo ChargingStation- $91.503. Acrylic JewellryChest - $202.004. Microfiber Plate Casess/4- $82.65
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Dwellings kicked off the 2012 Christmas season in the usual style with their VIP event inNovember. It was extremely well attended and the store is now brimming with temptingChristmas stock, including decorations and gift ideas. Head on down and you won't bedisappointed!
DwellingsChristmas Evening
Real Estate News
Prices starting at BDS$346,000
Carter’s Grove at Enterprise - Just a few minutes from Oistins
New ten home development in quiet cul-de-sac
Three bedroom detached properties - Plots 4,000 to 6,000 sq ft
Special Mortgage Packages available
Four properties nearing completion, another sold and
another reserved. Four still available for purchase
For more information call 230 9215
Carter’s Grove
NOW
SELLING
Stollmeyer Inc. Real Estate News
Hurricane, Security& Sun Protection
It may seem a difficult time toventure into your own new realestate business, but then RaeStollmeyer, better known as“Muffin”, is not your typical agentand if there’s one person who willrelish the challenge then it is thisdynamic young professional. Indeed Muffins knows plenty
about competition being one of thebest female golfers in the regionhaving recently won both theBarbados 2012 OpenChampionship and the RBCClassic.Muffin is well prepared for the
role having worked in the realestate business since 2007 after
graduating with an Honours Degree in Finance the previous year. Byher own admission she’s always had real estate in her veins althoughshe confesses to having different ambitions in her formative years-“I’ve always been fascinated by property and at one stage harboured
ambitions of becoming an architect. I’m a perfectionist so the idea oflooking at every detail has always been part of me. I’m very aware thereare many more experienced professionals in the business and mydedication to perfection has stood me well. However, I value the
personal service and I’m always prepared to go that extra mile for theclient. It is quality customer service that separates us in this verycompetitive business.”Her main emphasis will be on sales and long-term rentals, but she
will also be offering short-term rentals and property managementservices via her new website http://www.stollmeyerinc.com andfacebook http://www.facebook.com/StollmeyerIncLook out for her new signs around the island and remember, listing
your property is free!Stollmeyer Inc will bring a breath of fresh air to local real estate withsuch a vivacious and charming young entrepreneur at the helm. Hernew office is in the heart of Barbados nightlife in the old Ship InnBuilding at St. Lawrence Gap although she is easier reached by phoneor email listed below.Muffin is a Licensed Real Estate Agent and member of BEAVA.
For more information contact Muffin at [email protected] visit the office at # 7 Sugar Entertainment Inc.St. Lawrence GapChrist ChurchTel - (246) 262-8452
60
Only Insurance Sales people enjoytalking about insurance and if there isone topic that continues to be acomplete switch-off then it isinsurance! We don’t like it because itcomes at a cost and in mostinstances without a return. After all,who wants to pay big bucks forsomething with seemingly no benefitand no return? And therein lies theview of a customer takes when
looking at insurance. That said, it is a ‘necessary evil’ in some instancesand if we must have it then the least we should do is to make sure whatwe have has real value and meets our needs. Too often the insurancecover we have does not meet our needs and we fail as customers tocheck and update our ever-changing requirements.We can’t blame the insurance company or agent for that! For most property owners car insurance, buildings insurance, lifeinsurance and in some cases mortgage indemnity insurance, areobligatory. Health insurance is often tied into a company scheme or toan optional private scheme. Some life policies also carry savingselements and benefits. All in all, we seem enveloped in a web ofinsurance whether we like it or not, so we must ensure what we arepaying for has real value and protection because that is not always thecase.Car insurance is the leaking oil in the insurance engine with its longhistory of high premiums and even higher claims. Customers need toshop around for the lowest premium for the cover needed, butremember you get what you pay for. If you have basic third-party coverit doesn’t cover your personal costs when you are at fault. My biggestbeef in the car insurance quagmire is the exploitation of private injuryby so-called good citizens. Rest assured if you hit the car in front of youno matter how softly, the driver and any passengers are going to emergewith neck injuries. Some may be genuine, but the vast majority are not,and this is a cancer within the insurance industry that continues toescalate and drive up costs. If you aren’t hurt don’t claim! It is theft todo otherwise, but unfortunately many people see it differently. Buildings Insurance in Barbados lives with the continuous threat of ahurricane and although we have virtually escaped for over 150 years weare still paying well over the odds because of the threat. We also live in
an industry that accepts no claims under 2% of the value of the propertyso in most cases you may never make a claim against your buildingsinsurance policy. And if you do, make sure your property is properlyvalued because if your $1million property is insured for $500,000 thenyour claim will be discounted 50% as that is the margin of your underinsurance. You would expect life insurance to be for life, but that is not always thecase. Some insurers change the terms and conditions when you reachage 65 so contact the company or your agent as you may see asignificant change in the amount that you are covered for. Also, reviewyour needs accordingly. Life cover needs often change dramatically inlater life and if death is one certainty in life the other is the certainty thatyou aren’t taking anything with you! Sometimes people have life coverwhen they simply don’t need it. Review your circumstances and decideaccordingly. Health insurance is a minefield and unfortunately you may not knowits limitations until it is too late. There are many horrendous stories ofmisfortune in Barbados with no health cover in place or just as bad,inadequate health cover. If you have health insurance sit down with yourinsurer or agent and go through the cover thoroughly because insurancecompanies are not flexible when it comes to claims. And if you want orneed health issues dealt with off island make sure that is provided forunder the scheme. Health insurance is not age related it is health relatedand the statistics show that illness and injury are going to happen. Makesure you are prepared for that event or the consequences could beexpensive and at worst perhaps fatal. The Insurance business has a murky culture, but at the end of the daythe onus is on you to ensure you have the cover that meets your needsand that is comes at the best price.
CLARENCE HILES is an independent mortgage broker and anexperienced feature writer on a variety of Caribbean business topics.He can be contacted at 230 9215 or by email [email protected]
The Murky Worldof Insurance
Use a Scotia Plan Loan to finance home improve-ments with conventional or green technology and you’ll be eligible for lower interest rates, longer terms and discounts up to 10% at these participating stores.
Subject to certain conditions and limited to salaried applicants meeting credit approvals. Offer is subject to change without notice. Offer valid from November 21, 2012 to January 31, 2013. *Trademark of The Bank of Nova Scotia, used under licence, (where applicable).
†
Talk to us today.
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