Monday, August 16, 2010

Finding Hidden Gems in Bahamas Out Island Real Estate Today.

Have you ever heard of developments like Bahama Palm Shores, Abaco, Casuarina Point, Abaco, Rainbow Bay, Eleuthera, Exuma Sound, Great Exuma? Perhaps not. These hidden Out Island communities offer some great opportunities for low cost purchases of really affordable second home or retirement properties with plots of land for as low as $20,000 near a beach or the ocean and relatively close to some descent amenities.

Bahama Palm Shores Abaco for example lies a quick 40 minute drive from downtown Marsh Harbour, an even quicker 35 minute flight from Nassau and 45 minute flight from South Florida. Before, what seemed perhaps a long drive from the city on a desolate and deserted road is now a route rather frequently traveled. With luxury resort developments in communities like The Abaco Club at Winding Bay, Schooner Bay and Serenity Point, restaurants like Pete’s Pub, and commercial ventures like Abaco Neem, Bahama Palm shores may not be so far away from things after all. Famous for it's long crescent shaped beach that is typical of that entire southeast shore of Abaco Bahama Palm Shores is the place to relax. Be aware that some lots don't yet have utilities. These are usually the more "affordable" lots. Some purchase now knowing that they won't be building on their property for a long time, figuring that by the time they're ready to build, electricity will have moved down to them. If you need electricity now, the Bahamas Electricity Corporation will bring power to your lot for a fee. Lots start in Bahama Palm Shores around 20,000.

Not far away is another peaceful beachside community that’s perfect for retirement - Casuarina Point Abaco. With a 2 mile long magnificent white sand beach to the south, a small canal system to the north and a community boat ramp providing boaters with the best of both worlds - Boating and Beaching. Casuarina Point offers quick access to some of the best fishing in the world. Catch bonefish on the flats in the morning and troll for deep water marlin in the afternoon. A wonderful place to retire. Lots in Casuarina Point start in the 30,000's with Canal lots running from 120,000 to 150,000 and beachfront lots in the 200,000's when you can find them.

Rainbow Bay Eleuthera is another community that's affordable and growing.  Located a few miles north of Governor's Harbour Airport and south of the famous settlements of Hatchet Bay and Gregory Town on the island of Eleuthera. Perched high atop limestone bluffs at a narrow point of the island, these lots offer spectacular views, strong tropical breezes and face either towards of the Atlantic (deepwater) dark blue side of Eleuthera or the Caribbean (shallow) side with shimmering light aquas and greens. There are many lots available in Rainbow Bay which is why they are so reasonably priced. Rainbow Bay is a very friendly community with a strong and vibrant property owners association. Property owners frequently get together for picnics and social functions.  The island of Eleuthera lies 65 miles east of Nassau/New Providence. Close access to Governors Harbour Airport makes Rainbow Bay a convenient location. Vacant land can be found in Rainbow Bay from $30,000.

Exuma Sound lots are located on the island of Great Exuma Bahamas. There are literally hundreds of lots available in these subdivisions close to the bustling little town of Georgetown on Great Exuma Island. Although the community is now sparsely populated, buyers purchase here with the knowledge that their property will appreciate over time as less and less available lots remain. Lots can be found in these subdivisions in the low 20,000's. It is very sparsely populated now but in 40 years will it be? Nobody knows, but ask Donald Trump about speculation. Again, daily flights from Nassau and the United States make easy access to your retirement home.

Treasure Cay, Abaco boasts wonderful inland lots close to one of the nicest beaches in the world. Accessed by two airports, either Marsh Harbour or Treasure Cay, daily flights are available from Nassau and the United States. Offering water ferry access to the outer cays of Green Turtle Cay, Scotland Cay, and Great Guana Cay. With a large deepwater Marina, an 18 hole Championship Golf Course and a 7000 ft. paved runway, Treasure Cay has so much to offer. Lots located here can be found from the mid 50,000’s in this wonderful place to retire.

So as you can see, there are still affordable investments to be found in The Bahamas, you just have to look beyond the hustle and bustle of the city!  Visit our website at www.erabahamas.com for thousands of Bahamas Real Estate Listings.

Thursday, August 5, 2010

Bahamas Real Estate Today

Now is the time to purchase Bahamas real estate.

While the real estate market in the Bahamas definitely took a down turn along with the worlds economy, the bottom did not drop out of the Bahamas real estate market like it did in other parts of the world.

The most significant reasons being the stability of Bahamian economy in general and the fact that our local lending institutions have been and continue to be extremely conservative and prudent in their lending practices, with purchasers enduring a very regimented qualifying process, with significant down payments along with substantial collateral. The idea of a 120% or even 100% loan is unheard of. That's why, when the economy tanked, the Bahamas did not experience the rash of foreclosures like the United States as borrowers were less likely to be in over their heads in the first place.

We did have some trouble with borrowers defaulting on loans because the economy was poor and perhaps they lost their jobs but we never lent money recklessly as they did elsewhere.

Moreover, the Bahamas has a limited real estate inventory in the developed islands like Nassau/New Providence. In the capital, there is only a finite amount of land available, and particularly a distinct lack of desirable beachfront or waterfront property. Therefore, the laws of supply and demand dictate that there is a built in value to owning waterfront property in the Bahamas that will remain despite negative fluctuations in the economy.

So now is the time to buy. I don't think prices will fall any more. Overpriced listings have come down closer to market value, but fairly priced properties will not be given away. If the economy starts to improves prices will Bahamas real estate prices will increase and will eventually return to their pre recession levels.

Bahamian Real Estate and real estate in general has always been the one steady performer throughout history. Somebody once asked, "have you ever seen a poor landowner?" The answer is probably 'No'. Investing in real estate early is the key to an early retirement. Investing in Bahamas Real Estate will not only put money in your pocket but provide you with a nice retirement location when it's time to relax in you later years. Call one of our agents today and visit our website at www.ERABahamas or our Facebook page at ERA Bahamas Real Estate See our blog at Bahamas-for-sale.blogspot.com or follow us on Twitter at ERA Bahamas

But make that sacrifice, stop making your landlord rich. Invest in Bahamas Real Estate Today.

Tuesday, August 3, 2010

First Entry of a Real Real Estate agent in the Bahamas

This is my first entry into the blogging world. Visit our website www.erabahamas.com for more information about purchasing or owning a home in the Bahamas. I will be adding interesting information and ideas from time to time that I hope will help you in your home search.