Barbados Property News June/July 2012

EE NE FR NLI O &

Island Gold- Page 23

Ron Karp Realty Ltd. - Inside back cover

Apes Hill - Page 24

BARBADOS PROPERTY

NEWS www.barbadospropertynews.com • June 2012 - July 2012 • Issue 81

Endorsed by the Barbados Estate Agents and Valuers Association Inc.

Palm Court - Page 21

We Know Barbados

Ealing Park, Christ Church

Walkers Terrace, St. George

Clapham, St. Michael

B22873 4-bed / 3-bath home with heated pool Sale Price BDS $545,500

B23025 3-bed / 2-bath house - recently updated Sale Price BDS $ 700,000

B23110 3-bed / 2.5 bath home - large, lush gardens Sale Price BDS $ 775,000

Navy Gardens, Christ Church

Hillbury, St. George

Brittons Hill, St. Michael

B23090 3-bed / 2-bath home - great location Sale Price BDS $ 795,000

B23250 3-bed / 2-bath house - modern finishes Sale Price BDS $ 795,000

B23498 3-bed / 2.5-bath furnished townhouse Sale Price BDS $ 800,000

Durants, Christ Church

Mount Standfast, St. James

Apes Hill, St. James

B23195 2-bed / 2-bath furnished penthouse Sale Price BDS $990,000

B23505 3-bed / 3-bath villa on a breezy ridge Sale Price BDS $1,475,000

B8845 3-bed / 3.5 bath luxury townhouses Sale Price From BDS $ 1,770,000

To arrange a viewing or for sales information: Tel: (246) 434-9000 | E-mail:infobb@terracaribbean.com Sales | Rentals | Advisory | Property Management | Holiday Rentals

Looking to buy, sell or rent?

We have these and many more properties available, just visit: 7 www.terracaribbean.com

Editor’s Comments There is a tradition in Barbados that annual property repairs generally take place in the build-up to Christmas when homeowners go that extra mile to ensure their property looks its best for the festive season and the return of family members. But times may be changing as the current lull in the local property market has meant less people moving and in some instances preferring to renovate and improve their existing home. This initiative is to be welcomed as we could all take a more critical look at our homes and give them a much-needed Spruce Up. There are certainly plenty of suppliers within the pages of Barbados Property News only too willing to assist and provide advice and materials to complete the work.

Some homeowners switch off in the summer months thinking people are distracted by holidays rather than think about home improvements or selling. But this is not the case as lots of visitors are on island and from their midst some lucky ones will buy a second home in Beautiful Barbados. Hopefully they will find it in this edition or in our sister publication Caribbean Property Magazine which was published at Easter.

This annual glossy not only showcases some magnificent properties across the region, but it includes many interesting guest articles in the Business and Finance Section.

This is wedding time. Enjoy the wedding gift section on pages 36-38. We hope it gives you some great ideas for the happy couple! Enjoy!

Pamela Hiles On the cover: Palm Court Editor

Publisher – Hiltop Publications Ltd, 11 Cottage Ridge, St George, Barbados, BB19071 Tel (246) 228-9122, Fax (246) 228-0243 Email: sportingb@caribsurf.com www.sportingbarbados.com www.barbadospropertynews.com www.caribbeanpropertymag.com www.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 this publication have been deemed accurate at the time of going to print. The views expressed as editorial are those of the Editor unless stated otherwise. No part of this publication may be reproduced without the consent of the permission of Hiltop Publications Ltd.

If you would like to advertise in Barbados Property News call Pam at 228-9122 or 232-0692

Your mortgage has possibilities, whether you’re in the market for a new home or simply a renovation you can afford.

Finance up to a maximum of 30 years Flexibility to meet when it’s convenient for you Variable rates or fixed rate options Property and related insurance products Online mortgage calculators

Sandra E. Padmore Home Financing Specialist Tel No.(246) 234-3815 E-mail: sandra.padmore@scotiabank.com

Call Sandra today!

6) 234-3815 *Trademark of The Bank of Nova Scotia. dra.padmore@scotiabank.com

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Discover what’s possible

ALTMAN R E A L

E S T A T E

Woodhouse Custom Cabinetry With 20 years under the belt in the manufacturing of residential furniture for Barbados and the Caribbean, Wood House Home Furnishings has grown to major industrial strength with plants in Barbados and Trinidad. Residential furniture is produced in Trinidad, and we have just expanded our portfolio with the birth of Wood House Custom Cabinetry being manufactured in Barbados, producing the finest, highest quality Kitchens, at surprisingly affordable prices!

For years in Barbados, Kitchens of our quality, were imported from Europe, as the experience, knowledge and equipment required to manufacture this level of quality kitchen, at the quality and prices that Wood House Custom Cabinetry is able to offer, was not possible in Barbados. The investment in state of the art equipment, has enabled Wood House to produce cabinetry that is equaled to that made in any first world country in the world, at prices that Barbadians can afford.

Wood House Custom Cabinetry has proudly provided kitchens to a wide variety of customers, for both Barbadians and foreign residents, for residential and commercial installations. Our client base ranges from clients with smaller homes, affordable housing units, all the way through to world class prestigious homes on the west coast of the

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island. Wood House Kitchens are truly for everyone, we design kitchens that can be extremely affordable to kitchens that offer the highest quality features, that are available in the kitchen industry, lazy susans and pull out shelves, for the hard to reach items, the sky is the limit for what can be added, to customize your dream kitchen! With our Design Team no job is too big or too small!

Heading the Design team is Tonya Blackman who is a registered architect, and is able to assist with all your design needs, for accessories, the choice of finish, to outlay, or she can work with the plans that may have already been provided for you. As quoted by one of our very satisfied customers, “the only difference between a Wood House Kitchen and an imported one, is the name!�

Most Barbadians have the concept that hiring a carpenter is more affordable, but they are so wrong on this point. Can a carpenter offer you a 5 year manufacturers warranty? Can he build all cabinets off site and install within a matter of days. The answers to these questions and many others is no!

In addition to Kitchens, there is so much more that goes into a house.

There are closets, custom built vanities, laundry rooms, garage storage and of course home office and built in tv and entertainment units! Once you have the four walls and a roof, we can quote on everything else for you. Remember estimates are free, just give us a a call at Wood House Home Furnishings, 420-5295 Ext 131, and we will be happy to set up an appointment, to discuss your needs. We will not be beaten on price!

Or e mail us at sales@woodhousefurniture.com

Talius Answers Many Questions Homeowners talk a lot about the use of generators but when it comes down to their presence in local homes there are relatively few in place. They are certainly part and parcel of many public establishments, but despite the immense benefits homeowners have been slow to embrace their use. There are two main reasons.

Firstly, they are seen as an Frank Moreno (left), Bob Cramer emergency device and insurance (right) and from Talius Philip Forster rather than provision so many (centre). people view them in the same category as hurricane shutters, insurance and as an optional expense.

Secondly, despite their acknowledged benefits most people don’t know a lot about generators, their practical use and how they can be customized to particular needs.

Talius are the local agents for GENERAC and their management went to great lengths to educate the local community last month with an excellent seminar and display presentation at the Marriott Hotel in Hastings. Both commercial and domestic generators were featured and they also highlighted the growing range of portable generators and explained their use and flexibility in times of crisis. There is a lot of information to absorb when considering the purchase of a generator, but Talius has excellent and knowledgeable sales staff and their contribution

is vital to the prospective buyer. After all, how do you calculate how much power you need and what type of generator best meets your particular needs?

Barbados has frequent power cuts and the threat of bad weather and hurricanes is part of everyday life for several months every year.

Generators provide insurance when the power is down and we don’t have to look too far back to the last storm and the chaos it caused in many parts of the island when electricity staff struggled to cope with the emergency. Worse still, our neighbours in St. Lucia had a horrendous time. Generators in the home don’t provide all the answers, but they tick many of the right boxes and if you wait until you are in an emergency situation then you are too late! Home Standby generators provide 24/7 power protection and are the safe solution to power cuts. Quite simply, when the power goes off the generator comes on. It provides complete peace of mind.

Home generators may be seen as an option for homeowners, but if your business depends on power then it is a no brainer to have back up.

And this is particularly important for Internet users as many businesses stop when the computer is down because there is no comparable alternative.

We live on an island where a power cut is a daily risk, even for a short time, and the need to be prepared has never been greater. In former times Barbados did not have the products or the expertise to provide back up, but thanks to companies like Talius all that has changed.

For more information telephone Talius at 271 1245 for a free consultation.

Hurricane, Security & Sun Protection

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Summer Barbados Property News Feature

Weddings

Gift Ideas

Gajah

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1. Outdoor Lounger $1,419.00 2. Multi-coloured Cushion $46.00 3. Wood & Glass Lantern $80.00

Carters

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1

1

1. Weber Summit S670 Grill – 500008905 – $9,445.59 nett.

2. Keurig B60 Coffee Maker – 250010124 $486.00 nett. Also available are an assortment of K-cups.

3. St. Tropez Dining Set – 700021201 - $1,852.77 nett.

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Sort Your Stuff

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1. Canvas Gown Bag$43.75 2. Undersink Rack- $72.50 3. Dinnerware Storage $82.65 3

3

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Archer’s Hall

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1. Cabana Soy Candles $70.50 BDS Vat Inclusive.

2. Blue Glass Shell Hors' d oeuvres Set $123.37 BDS Vat Inclusive 3. Seahorse Marble Board Set $106.93 BDS Vat Inclusive

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Do It Best 1. Cuisinart Countertop Water Filtration Unit $499.99 2. Cuisinart Compact Griddler $244.99

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2

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Designer Decor 1. Abstract Print - $ 495.00 2. TC Vase 15" - $ 175.00 3. TC Pitcher 15" - $ 175.00

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1

3

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Natz

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1. White Rectangular Serving Platters Small $51.17 Large $123.54 2. Double-Sided 2 x 3 Cotton Rug - $108.93 3. Potted Phalaenopsis Orchid - $353.57

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3

Dwellings

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1. Mikasa Love Story Frame 5x7 - $89.95 2. Lenox Sculpt 65 pc Flatware Set - $399.95 3. Lenox Opal Innocence Carved Four Piece Place Setting - $169.95

2

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W G NOLLIN SE

Carter’s Grove Carter’s Grove at Enterprise, just a few minutes from Oistins New ten home development in quiet cul-de-sac Three bedroom detached properties

Prices starting at BDS$ 346,000 Plots 4,000 to 6,000 sq ft.

Special mortgage packages available

Four properties already under construction, two reserved and four available to purchase.

For more information call 230 9215

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BEAVA News Multiple Listing System Launched The Multiple Listing System has been officially launched in Barbados by BEAVA Inc. (Barbados Estate Agents and Valuers Association).

Over 140 agents have been trained in the system and those who had already signed up to have their properties listed on the BEAVA MLS site, joined members of the board and specially invited guests, chief among them, Honourable Minister of Tourism, Richard Sealy, at a May 02 cocktail reception at the residence of President Suzanne Davis. Globe Finance came on board then as a sponsor for the evening.

That special celebration came after a near three-hour long sensitising seminar earlier in the day for the general public at Hilton Barbados, which saw presentations by Wayne Berthin, owner of RealtyServer, host of the MLS and Howard Johnson, President of Jamaica Realtors Association, who has been using the system with great success over the past two years.

That morning session was part-sponsored by LIME who has come on board as a partner for some of BEAVA’s future events.

The MLS is new here to Barbados and therefore will have agents and property owners across the island discussing the many benefits for months to come and BEAVA has been fortunate to have quite a few agents who are excited about this new way of doing business, least of all Patricia Greenidge: “It’s a Roll Royce for owners or for anyone wanting to see or rent property,” is how she describes the difference the MLS makes to her business. “I think the exposure is more far reaching than most (local) real estate websites. In addition to that, the information required on the description of each property is more detailed and available, I think, than most real estate websites.”

She adds that though listing a property on the MLS site could prove a little tedious, once that was done, you just needed to sit back and reap the sweets.

To visit our website, log onto beavainc.com

BEAVA President Suzanne Davis (right) poses with (from left) Deborah Ramsay, Michelle Marshall and Melanie King at the official launch of the MLS.

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Spruce Up Your Home and increase its Value Property values in most sectors have dropped in recent years even if the Land Tax Department refuses to acknowledge the fact in their three-year assessment cycle.

Of course, valuations is an opinion and if the Land Tax Department says the value has gone up then their opinion is the only one that matters. After all, you can’t go to another Land Tax Department and since the Appeal Process is costly because it involves an independent valuation then the outlay negates the potential saving.

Unfortunately on this issue we have to suck it and move on!

But while property owners may lament the fairness of this situation, some of them may be making a bigger negative impact on their property value by simply ignoring some of the basic principles of good maintenance and housekeeping. As homeowners we get far too familiar with our surroundings and often fail to see deterioration or give regular maintenance the priority it deserves. This is apparent when it you want to sell your property and the listing agent or valuer gives you a long list of essential repairs needed to make the property salesworthy. Of course, if you going to live and die in the same property then you may not see the need!

Homeowners should make regular inspections of their property and surrounds to ensure maintenance is up-to-date and there are no skeletons in the cupboard. This is particularly important in a tropical environment where the threat of termites and rot is much more prevalent than in temperate climates. Also, the need to keep gardens under control cannot be overestimated given that they could become a breeding ground for rodents, weeds, mosquitoes, African snails and burglars!

First impressions are very important when someone is looking

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to buy a property, but there are many reasons why a homeowner should maintain their property to a high standard irrespective of selling. After all, you live in it 24/7 and you should take pride in its appearance. Also, a poorly kept property will not only lose value, it will reduce the value of adjacent properties and bring down the general standard of the neighbourhood. This is particularly significant with newly constructed properties that are left unpainted and with construction debris lying around the perimeter of the property for many years. Worse still, properties that are unfinished for a plethora of reasons need to be dealt with more effectively. This is an area where the Town and Country Planning Office should take a stronger approach. If a property has been sitting unfinished for years perhaps it should be vested and either sold or demolished and the site cleared. It certainly does the island no good as a holiday or potential second home destination to have a landscape littered with derelict and unfinished properties.

One of the lovely aspects of Caribbean architecture is the use of more vibrant colours. Tastefully painted houses of every shape and size add to the beauty of the island and this is just as important with a chattel house as a luxury mansion. Visitors to Curacao and Grenada will be aware of the colourful landscape provided by brightly painted buildings and homes.

No detached property or development is complete without tasteful and well maintained landscaping. It hardly needs a valuer or selling agent to tell you the value it adds to the house and at the other end of the scale how it takes away from a property if it is neglected. Barbadian homeowners have traditionally renovated, repaired and refurbished pre-Christmas, but in the modern world it is an ongoing process and one that should not be neglected. The challenge is getting everyone on board to think the same way and raise the bar all over the island.

Spruce up your home and you will increase its Value.

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Check us out @ www.phl.bb