Roatán Luxury Lifestyle Real Estate Properties Honduras by Real Property Marketing Group, Ltd.

Roatรกn The Crown Jewel of Honduras

Cover Property

The Crown Jewel of Honduras - Roatan Straddling the ridge which forms Skyline Drive, MAISON VELDKAMP offers charming, stylish and serene luxury. This three-bedroom villa provides delightful terraces, a large pool with an incredible view of Charlotte Amalie Harbour, native stonework and other architectural delights. Amazing 360-degree views over the town and harbour: south to the island of St.Croix; east - down island to the British Virgin Islands; north over world famous Magens Bay and the Atlantic; and west to outer islands and Puerto Rico. This electronically gated aerie has a “bird’s-eye view” from the best vantage point St. Thomas has to offer. There is also a one-bedroom apartment accommodation for guest privacy with view looking to the Atlantic. FIVE STAR! MLS#101554 Offered at $1,300,000.

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IN THIS ISSUE

Featured in This issue A First Look at a Second Home 2

Caribbean

Caribbean Luxury Collection

Published by Real Property Marketing Group, Ltd. 4212 San Felipe, #449 Houston, Texas 77027 713-622-5551 www.CaribbeanLuxuryCollection.com

George H. Lane Chairman

Luxury Real Estate

Dick Lewis President Shay Tidwell Production Manager

Robert S. Hodgdon Marketing

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Roxanne L. Patterson Production Director

ÂŠ Copyright 2011 Caribbean Luxury Collection. All rights reserved. No part of this publication may be reproduced without written permission from the publisher. Printed in the U.S.A. The publisher will not be responsible for any omissions, errors, typographical mistakes or misinformation within this publication.

Own A Piece of Paradise

Sunrise Beach

GREEN TURTLE CAY, ABACO, BAHAMAS

OWN A PIECE OF PARADISE

Desirable prime property for development, investment or personal use.

SUNRISE BEACH

VACANT LAND Three adjacent lots 7, 8 and 9 292 feet of continuous Beachfront - The largest sweep of continuous beachfront available. GREEN TURTLE CAY, Abaco, Bahamas, North End. Sunrise Beach lies in the Atlanticâ&#x20AC;&#x2122;s crystal clear blue-green waters. The heart of one of the worldâ&#x20AC;&#x2122;s largest barrier reefs, known for its world-class bone fishing. Only minutes from the Green Turtle Cay Club, it affords dock access and club amenities. Ideal for the discerning buyer desiring to build in a world-class, exclusive location of tranquility and elegance. Superlative, sweeping Atlantic Ocean front views, Sunrise Beach is a masterpiece of nature. Ideally PRE-zoned for development and/or residential usage. Access road already installed. Awaiting a serious buyer with a true vision, this parcel offers the potential of a high-end subdivision. Each generously proportioned lot can accommodate a luxurious home of various specifications or the lots can be combined to accommodate a gracious estate.

Green Turtle Cay is truly casual elegance located within the sophisticated Bahamas exotic Out Islands of Great Abaco, where pollution, traffic and casinos are nonexistent. Featuring world renowned pristine beaches, internationally acclaimed bone fishing, snorkeling, diving and the annual Green Turtle Heritage Festival, SUNRISE BEACH is centrally located to be within a short golf cart commute to the townâ&#x20AC;&#x2122;s quaint village hosting a variety of markets, shops, art galleries, the Albert Lowe Museum and restaurants, including first class World/Caribbean fusion cuisine at the highly acclaimed Green Turtle Cay Club. Stunning Atlantic sunrises and sunsets in a setting reminiscent of the charm and mysterious allure of the swashbuckling 17th century Caribbean pirates, SUNRISE BEACH provides an opportunity to create your own Caribbean paradise. SUNRISE BEACH is listed at $1,450,000. Exclusive of 1/2 Bahamian stamp tax and purchaserâ&#x20AC;&#x2122;s legal fees. Interested parties please contact: HG CHRISTIE John Christie, (242) 322-1041, john@hgchristie.com / Kristina and Adrian Lowe, (242) 365-4191, kristina@hgchristie.com or adrian@hgchristie.com www.hgchristie.com/abaco-realestate/details/abaco/ green-turtle-cay/vacant-land-as10696 Broker inquiries welcome.

Tir Na Nog

An Exceptional Beach Front Retreat

elcome to Tir Na Nog, an exclusive and enchanting private estate near the historic town of Governors Harbour, Eleuthera, a place where the legend of “The Land of the Ever Young” can come to reality. Here the flowers bloom all year-round against the backdrop of fabulous views of the Atlantic Ocean, casting their scents within the peace and serenity of the 10 acre gardens and walkways. Tir Na Nog is located in the most sought after location in Eleuthera, the Atlantic seashore on Banks Road, where there are a select number of Estates overlooking an amazing beach and only minutes from nearby restaurants and the charming Village of Governors Harbour. At Tir Na Nog your senses will be indulged. Interiors were recently renovated and designed by the gracious David Flint-Wood, co-author of “Island Style,” a wonderful book of what Island Life is. Applying the very flair that made the Island Style decor renowned, he used simple wood and white linens, organic materials, soft lighting and tropical touches ― warm and soothing to the senses. The Land: 10 acres of coconut lined rolling dunes and pathways lead to one of the most fabulous beaches you have ever seen. Stroll the miles long beach; stop in at Tippy’s restaurant for a cool drink or a bite. Lounge in the sun, in the hammocks strung in the coconut grove or under the beachfront gazebo. Covered with coconut trees and a variety of fruit trees, there is always something to pick and eat.

Photos Photos by: by: Patrick Patrick Robinson Robinson of of H.G. H.G. Christie Christie

The Home: Tir Na Nog offers a very special set-up unknown in most places in The Bahamas. The “home” is actually 4 Cottages of brilliant design. The main one is home to the living areas complete with a beautiful kitchen, and living and dining area with high cathedral ceilings and dark wood floors. There is a covered balcony on either side of the main house with one side overlooking the tennis court. Across the driveway is the main bedroom house complete with a beautiful covered veranda with three large bedrooms all decorated with a similar feel to the main house. Towards the ocean are two self-contained, one-bedroom cottages with an amazing view out over the palms and the beach beyond. These five bedrooms all have private entrances and en suite baths, Three bedrooms are located in a house across from the dining hall. They are private and tranquil with exquisite furnishings in the simple Island Style ― crisp and refined. Two additional bedrooms are separate bungalows with private decks overlooking the coconut grove, and the shades of the crystalline of the beach and the azure of the Atlantic. Situated above the tennis courts with sweeping views of the estate and the sea, the living and dining room is a gathering place for all for fine dining, relaxation and entertaining. Outdoor grilling and dining is an option on the Northern deck, with upper deck for even fuller views and very much a retreat. This property truly is a treat to behold. Make an appointment for a viewing today. $3,995,000. John Christie, (242) 322-1041, john@hgchristie.com. www.hgchristie.com/details/eleuthera/governors-harbour/house-es11259

A First Look at a

Second Home

n the current economy, home prices have dropped and mortgage interest rates have been lingering in record-low territory since midway through the second quarter. These conditions have presented opportunities for many who have been hesitant to purchase a vacation home or investment property in the past, when costs were much higher. For those who are able to pay the additional mortgage, taxes, insurance, repairs and maintenance on an additional property over the long term, there are many benefits to be gained, financial and otherwise.

residence for two of the last five consecutive years. This exclusion applies to one sale every two years. Also, while home prices have dropped, rental costs have remained relatively stable in many areas. While those who purchased property in 2005 or 2006 may have trouble using rental income to cover the ongoing expenses of owning a second home, recent buyers may find the extra money from renting their vacation home when they’re not using it can pay for a larger proportion of their costs. However, this takes planning, patience and effort to make it work.

In addition to the profits obtained from selling the home in the future, vacation homes are a lure for family and friends. Hosting family gatherings at your beachfront property or a ski trip with friends at your mountain retreat will create memories for you and your loved ones that will never depreciate in value.

In fact, before making a purchase decision on a vacation home or investment property, there are many considerations you should be aware of. It’s imperative you fully understand the homeownership costs that come with owning a second home.

A large number of buyers also purchase a vacation home with the intent to use it as their personal residence in the future. The appeal of retiring to a beloved vacation spot is obvious. However, it can also save on taxes when the house is sold. To qualify for the exclusion of up to $500,000 of gain on the sale of a principal residence, the home must be used as a primary

How Much Home Can You Afford? If you don’t have enough to pay off your second home with cash, you’ll need a mortgage. Your Loan Officer can help you determine the type of financing for which you qualify. You can usually prequalify by visiting your Loan Officer’s website, giving you a good idea of what you can afford.

It’s not necessarily the best idea to go with the most expensive property you can manage, and it’s important to factor in additional costs, such as maintenance, utilities, taxes, furniture and other expenses. Your homeowner’s insurance may cost more than you’re used to, depending on the area in which the property is located. You should also make sure you have cash reserves set aside for extra expenses, many of them unexpected, especially if you plan on renting out your home. When you’re a landlord, you don’t have the luxury of making repairs “whenever you get around to it.” Be prepared to cover your mortgage payments for periods in which your property is not rented. Many vacation spots have off seasons, and renting out a vacation home is a lot of work. Even if you’re able to cover the home loan costs with your rent income, you should be prepared to pay the full mortgage if the property is vacant. Before You Buy Be aware that requirements for mortgages on a second home are higher than those for your first mortgage. Depending on the loan programs for which you qualify, banks may require anywhere between 10 and 50 percent of the total home cost for a down payment.

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home, and income are reported on Schedule E. Losses are subject to the passive loss rules and may be limited. It is best to consult with a tax professional to learn exactly what deductions can be claimed before you purchase your second home.

Interest rates also tend to be higher on a second mortgage. Your debt-to-income ratio (DTI) will also be taken into account. Your DTI is determined by adding all debts, including your projected future monthly payment for your second home, and comparing it to your monthly pre-tax income. As a general rule, lenders are looking for a DTI of 36 percent or less. However, your lender can help you determine what DTI works best for you, and if you are planning on renting out your second home, the possible income from that may be taken into account. Your lender may also require a higher credit score than they did for your principal residence. A score below 660 could make it difficult to obtain a loan for a second home. Vacation Home vs. Investment Property There may not seem to be much difference between a vacation home and an investment property, but the IRS has rules as to the income and deductions that are available for both. If you own a vacation home and it is leased out for less than 14 days a year, you may deduct the mortgage interest expense (subject to mortgage indebtedness limits) and taxes as an itemized deduction. Any rental income does not need to be reported. If your vacation home is used by you for more than 14 days as well as rented out, the income from rental is reported on Schedule E and the portion of interest and taxes allocable to the rental use is deducted on Schedule E against the income. The personal use portion is deducted as an itemized deduction. Direct and other rental expenses can be deducted against income, but these expenses cannot create a net loss. If you use the home for personal use for less than 14 days a year and receive rental income, the home is considered a rental property and all expenses, including depreciation of the

Renting Out Your Second Home While renting out your second home as a means to have your vacation property pay for itself is difficult, you can at least offset the costs with the income. It is best to rent it out as often as possible, as vacation rentals can take a high weekly rent, especially if located in a prime area. Consider a vacation home in a popular vacation area with low home prices to increase your potential for profit, even if it’s not your home state. Once you’ve bought your home, the next step is to find renters. Paid websites such as www.Rentalo.com, www.VacationRentals.com, www.VRBO.com (Vacation Rental By Owner) and www.CyberRentals.com are vacation booking companies that are searchable by a number of features and are a good way to advertise to prospective renters. www.HomeAway.com is an owner community that lists paid listings on several websites, including some of those above. Homeowners pay $329 a year to list on www.HomeAway.com, while www.VRBO.com costs $279 a year. To be competitive in the rental market, distinctive features are necessary. When purchasing your home, aim for an area with amenities available in the community, such as neighborhood pools, public beaches, ski resorts and golf courses. Make the property attractive to families by adding features like pool tables, board games and TVs. Keep the house stocked with toys so that children will be occupied. Some rental owners spring for the VIP treatment, offering weekly maid service, limousine transport and private chefs. If it’s in your budget, your home could be that much more attractive to renters with elegant tastes. Don’t be afraid to accept less for a last-minute deal. Offering a stay-for-four-nights, get-thefifth-free special would lure previously hesitant renters, and you’ll still be getting more than you would have if the home had been empty for a full week. It is also a good way to occupy the home during the off season.

Comply with Rules, Regulations and Laws Before you start renting out your property, make sure you research the many rules for renting out properties. Fines for noncompliance can be steep. These rules vary by region, and a good place to start is the U.S. Department of Housing and Urban Development’s website, www.hud.gov. You might also consult with an attorney to be sure you are fully aware of the local laws and have all the proper forms required. You will also want to have a rental agreement signed by both you and the tenant, identifying both parties, the property, the terms of the rental and the amount to be paid. You may also consider hiring a property management company to handle the care of the day-today operations and tenant needs. You may make less profit, but you will have less handson responsibility. Your Home Away From Home Regardless of whether you choose to use the home as an investment property or solely as a vacation home, the benefits of having a retreat for you and your family are many. And if you can use rental income to pay for all or some of the costs related to purchase, the rewards become financial in addition to sentimental. Experts say there is a short window of opportunity for people to purchase the best property possible before home prices and mortgage rates increase. The economy will recover, and as it does, your chance to make the most out of less will slowly disappear.

This article was submitted by Cornerstone Mortgage Company, a full-service mortgage banker operating more than 75 offices in Texas, Georgia, Minnesota, Oklahoma, Louisiana, Arizona, Colorado, California, Mississippi, Nevada, North Carolina, Utah and Washington. Corporate Office/Houston, 713.621.4663, 1177 West Loop South, Suite 200, Houston, Texas 77027. 3

V i si t u s onl ine at w w w. C l a s s i c P r o p e r t i e s I n t e r n at i o n a l . c o m

Caribbean

Bahamas H.G. Christie Ltd. . . . . . . . . . . . 6-7 U. S. Virgin Islands John Foster Real Estate. . . . . . .

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Aurora Winding Bay, Abaco, Bahamas This stunningly beautiful estate residence truly emanates an aura of fine tropical living. With a wonderful blend of grandeur and comfort, this expansive, luxury property is an ideal Abaco retreat. From the moment you arrive home to Aurora, you are awed by its presence. The main home is 9,970 square feet with five bedrooms, including two complete master suites. All bedrooms in this large home are found on the upper level and can share the upper veranda overlooking the swimming pool and guest cottages. Each master suite also has its own private, covered veranda on the ocean facing side of the house, with spectacular views of the Abaco Club golf course and the Atlantic Ocean. The ground floor has a bright, modern kitchen with great views, as well as an elegant dining area and a great room where fireplaces and high ceilings look warm and inviting. The living areas feature sweeping ocean and golf course views, and there is a comfortable, covered veranda which adjoins the great room through elegant French doors, leading to the pool deck. For fun and practicality, the basement level holds a fully-equipped bar, pool room and entertainment area, and utility rooms, laundry, storage and golf-cart garage. A swimming pool and Jacuzzi form the centerpiece of the property, surrounded by the impressive main house and two guest cottages, creating an architecturally delightful impression. Decorated with opulent furnishings, there is also a bright, fully-equipped office and library. State-of-the-art systems in the entire home, including temperature, audio, alarms and cameras, can be controlled via the internet, which makes monitoring your home easy! The Abaco Club on Winding Bay is an exclusive 520-acre members’ golf club and sporting retreat with the world’s first Scottish style “tropical links” 18-hole golf course, with breathtaking ocean views from every hole. Other amenities include: a clubhouse with pool, fishing, horseback riding, Elemis spa, tennis courts, children’s programs and watersports. Members and guests of The Abaco Club can also take advantage of its private terminal at the Marsh Harbour International Airport. The city of Marsh Harbour is only 20 minutes from the club and is a safe, quaint town that features shops, restaurants and other necessities. Experience luxury and relaxation at this exquisite island estate, and indulge in the fantastic amenities of this exclusive, gated community. Offered at $9,750,000. Internet Ref. AS11098. Neil Aberle, neil@hgchristie.com 242-367-5454 or 242-557-0277.

P.O. Box N8164, Millar’s Court, East and Shirley Streets Nassau, Bahamas • 242-322-1041 • www.hgchristie.com

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Cave Cay – The Perfect Private Island Exuma Cays, Bahamas Stunning natural beauty, a deep-water harbour and marina with 35 dock slips, and a 2,800-foot airstrip make this the perfect private island. In the heart of the Exumas, near to famed Musha Cay, Cave Cay is totally self-sufficient with water and power supplied by diesel generators, and with solar energy easily made available. The island has unspoiled beaches and elevations to 40 feet with breathtaking views. Atop one of the highest points on the island, the main house is move-in ready and has 360-degree views and top-of-the-line appointments. 38 buildings totaling 70,000 square feet include a 3-story houseboat plus staff and maintenance buildings. A large clubhouse and restaurant, shower and bathroom facilities, and three guest houses with hotel rooms and suites are under construction. Approved as a full-fledged commercial operation with approvals for a marina, hotel with an unlimited number of rooms and clubhouse, this paradise can be fully completed and operational in 6 months with a full construction crew, or converted for private use as a club or family compound. All building materials, heavy equipment and back-up supplies are included, plus a dredger and 118-foot landing craft. A once-in-a-lifetime opportunity to purchase a private island with endless possibilities for development. Contact John Christie for details. Internet Ref. XS11103

P.O. Box N8164, Millar’s Court, East and Shirley Streets Nassau, Bahamas • 242-322-1041 • www.hgchristie.com

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Villa Indochine St. Thomas, U. S. Virgin Islands An oasis of tranquility awaits at this three-acre estate. Decorated with Oriental antiques and modern teak pieces set on mahogany floors, this home is unlike any other on St. Thomas. Endlessly comfortable living areas are Zenlike in their elegant simplicity. Outside, a pool, meditation pavilion and hiking trail enjoy spectacular ocean views. MLS# 07-1735 Offered at $3,450,000.

Estate Bakkeroe St. Thomas, U. S. Virgin Islands Sited on a beautiful, flat 1.5 acre lot in prestigious Bakkeroe Estates, this remarkable property has five bedrooms and three and one half baths plus a den, home office with private entrance and half bath, a separate studio apartment and 3-car garage all on one level. Outside, a large pool and tennis court make this the perfect family home or vacation retreat. MLS# 10-1017 Offered at $1,945,000.