COLDWELL BANKER JAMAICA REALTY

AirTran plans to begin flying from Atlanta to Nassau, Bahamas, and to Aruba in December; and to Montego Bay, Jamaica, in February.  Although international travel to Europe and to Asia has declined significantly as business travel suffered, leisure travel has experienced milder declines.

The carrier launched its first international route in 2000 with flights from Atlanta to Freeport, Bahamas, which were discontinued in 2007. In 2008, it begin flying from Atlanta to San Juan, Puerto Rico.  They also fly Atlanta-Cancun.

Last year, AirTran sold aircraft and delayed future plane deliveries. It does not expect to grow its fleet until 2011. That means adding new routes often means cutting flights elsewhere. AirTran announced in August it will pull out of Newark, and may reduce flights in Florida.

Airlines that have a low-cost carrier model like AirTran historically were known primarily as domestic carriers, and the Caribbean has long been dominated by legacy carriers like American Airlines and Continental Airlines. But low-cost carriers including JetBlue, Spirit and AirTran have been building a presence here.

Kevin Healy, AirTran’s senior vice president of marketing and planning, said, “the Caribbean is a natural expansion of the AirTran network, as the industry shifts and it re-evaluates its operations…I think there’s potential for additional international destinations in 2010.”

Over the years, many persons have expressed an interest in remaining in Jamaica permanently. Applicants for permanent residence generally fall into one of the following categories:

1.  Retired persons who have resided in Jamaica for over three years;
2.  Spouses of Jamaican nationals not necessarily meeting any prolonged residence requirements; (that is, spouses do not need to be residing in Jamaica for any specified period of time);
3.  Adults and minors who have claim to Jamaican nationality without meeting any residence requirements; (that is, adults and minors do not need to be residing in Jamaica for any specified period of time);
4.  Minors who have no claim to Jamaican nationality, but who have resided in the island for a period exceeding two years;
5.  Persons employed in Jamaica after completing a period of residence of not less than five years.

To apply for permanent resident status you would need to visit the Extension of Stay Unit at the Passport, Immigration and Citizenship Agency (PICA), 25C Constant Spring Road, Kingston 10.   Please bring the following documents, and be aware the process can take up to 6 months:

1.  A completed application form;
2.  A valid passport (at least six months prior to expiration);
3.  Evidence of financial  status (for example, pension, bank account, investments, etc);
4.  Birth certificate;
5.  Marriage certificate (where applicable);
6.  Particulars of spouse and other dependents;
7.  Medical certificate;
8.  Police certificate from the country you are migrating (if you have not been living here);
9.  Passport-sized photographs;
10.A letter stating the reason for wanting to live in Jamaica ( must be addressed to the Chief Immigration Officer, Passport, Immigration and Citizenship Agency, 25C Constant Spring Road, Kingston 10);
11.Provide two character references.

As of October 1, applications for permanent residence will attract a non-refundable processing fee of J$30,000.00.

(resource:  Jamaica-Gleaner)

1. Price it just below the current market.
2. Create demand for your home, a bidding environment, so Buyers will compete for the purchase.
3. Avoid the sale environment, where Buyers will offer below market value.
4. Study the recent sales in the neighborhood – NOT what the list/offer price was, but the sale price (your Coldwell Banker realtor can provide this detailed analysis).
5. Spend the time to visit homes for sale, go to Open Houses, talk to the owners and find out how many Buyers have visited their property and what comments they heard.
6. Put your paperwork in order:  copies of your trust and deed, survey, inspection when you purchased, then complete the seller’s disclosure  – having these available will save you time and effort when you go into escrow and need to meet deadlines.
7. Know your Home Facts:  type of roof, warranty, termite inspections, warranty, square footage, size of lanai and garage, is the property wheelchair accessible, plus any details necessary to successfully answer Buyer questions.
8. Consider a pre-offer inspection so you can knowledgeably discuss what possible concerns Buyers may have.
9. Prepare your home for sale – this is crucial! Presentation – or Staging, as it is called now, is key to making Buyers feel comfortable and ready to make an offer.
10. You will be moving anyway, so now is the time to get rid of extra furniture, have the garage sale, and pack up enough stuff to make the home appear spacious, clean, and ready for a new owner.
11. Look at your property through the eyes of a Buyer – be critical, then fix the negatives.
12. What will they see?  Dirt?  A house that needs to be painted?  Clutter?  Yard tools?  Laundry?  Clean it up!
13. What will they smell?  Pets?  Diapers?  Last night’s dinner?  Mold? Stale tobacco?  Deodorize and sanitize!   (More Buyers are repelled by odors than feedback through the other senses.)
14. What will they hear?  Dogs barking?  Loud music?  Kids fighting?  Turn it down!
15. Remember:  the way you live in your home is not the way to sell your home!
16. Depersonalize your property.  Buyers want to imagine themselves in the home, not you.
17. Clear high-traffic areas of excess furniture.  This will maximize space and make it easier for Buyers to view your home.
18. Highlight key features in each room, accessorize with color and light.
19. Get lost during showings, that means you and your pets and children.  Let your Coldwell Banker Realtor show the home.
20. Get rid of the emotional attachment you have to the property.  You won’t be an effective negotiator if you can’t set aside your emotions.
21. Fix the little things, leaking faucets, loose toilets, squeaking hinges, burned out bulbs.  If you present too many deferred maintenance items, Buyers will wonder what else is wrong they don’t see or hear.
22. Make your house or condo livable.  Unless Buyers are looking for a “fixer” they don’t want to spend the first month repairing and cleaning their “new” home.
23. Be realistic.  If you don’t have a million-dollar view and location, you home won’t sell for a million dollars.
24. Be ready to negotiate and compromise.  Give the buyers something they want, and they may give you a better price.
25. Consider the offer as a whole, not just price – terms, time to close, financial strength of Buyers, inclusions like appliances – these all affect the net value to you in the sale of your property.
26. Listen to your Coldwell Banker Realtor.  You hired her or him for their professional experience.  Use it.

The homebuying process can seem complicated, but if you take things step-by-step, you will soon be holding the keys to your own home.

Nine steps to buying a home
1. Figure out how much you can afford
2. Know your rights
3. Shop for a loan
4. Learn about homebuying programs
5. Shop for a home
6. Make an offer
7. Get a home inspection
8. Shop for homeowners insurance
9. Sign papers

Step 1: Figure out how much you can afford
What you can afford depends on your income, credit rating, current monthly expenses, downpayment and the interest rate. Online calculators can help, but it is best to visit a lender to find out for sure.  A housing counselor or your Coldwell Banker agent can help you figure out how to manage and pay off your debt, and start saving for a downpayment.

Step 2: Know your rights
Check with your Coldwell Banker agent for the laws applicable to buying real estate.  Be informed about the total cost of your loan including the interest rate, points and other fees. Ask questions about charges and loan terms that you do not understand.

Step 3: Shop for a loan
Save money by doing your homework. Talk to several lenders, compare costs and interest rates, negotiate to get a better deal. Consider getting pre-approved for a loan.

Step 4: Learn about homebuying programs
Ask your Coldwell Banker agent about special programs to help you into home ownership.

Step 5: Shop for a home
Know your needs and wants.  Check on extra fees, like homeowner association dues or assessments.

Step 6: Make an offer
Discuss the process with your Coldwell Banker real estate agent. If the seller counters your offer, you may need to negotiate until you both agree to the terms of the sale.

Step 7: Get a home inspection
Make your offer contingent on a home inspection. An inspection will tell you about the condition of the home, and can help you avoid buying a home that needs major repairs.

Step 8: Shop for homeowners insurance
Lenders require that you have homeowners insurance. Be sure to shop around.

Step 9: Sign papers
You’re finally ready to go to “settlement” or “closing.” Be sure to read everything before you sign, and ask questions of your Coldwell Banker Realtor or the real estate attorney if you don’t understand.

In a ground-breaking move, Coldwell Banker Jamaica Realty and DunnCox, a leading law firm on the island, shared a cocktail hour on Thursday September 10^th. This meeting of real estate and legal minds was organized with a vision of establishing working relationships plus exploring how both companies can collectively encourage more business in the real estate market.

During brief presentations, each company profiled their history, accomplishments, services and introduced key staff members. The evening’s unique mix of business and social ‘mingling’ created a platform to build on for the immediate future, specifically improved communication and more business opportunities through client referrals.

The real estate market in Jamaica recently received a jolt in the arm when the Government of Jamaica made a further reduction in transfer tax and stamp duty. Effective August 1, transfer tax was reduced to 4% and stamp duty 1.5%. This tax cut represents almost 50% reduction in the costs of selling a property since September 2007 and brings Jamaica more in line with other Caribbean nations.

As business leaders in their own right, this meeting of minds highlighted each company’s goals in the real estate market and opened the door for how we can to work together to make the most of future business opportunities and improve client service.