COLDWELL BANKER JAMAICA REALTY

You’ve decided to sell.  Look at your home through the eyes of a prospective buyer and be honest with yourself:  what needs to be cleaned, painted, repaired and tossed out or given away?   If you were buying this home what would you want to see? Your goal is to make your home look good, maximize space and attract as many buyers as possible.

The first and most important thing you want to do in preparing your house for market is to make sure it has good curb appeal. Curb appeal is simply the first impression a prospective buyer gets when driving by the house.

It has been said that up to 80% of the decision to buy a house is made before even entering the home, so it doesn’t matter how great your house looks inside if buyers won’t go through the front door.  You could have the greatest floor plan, and the greatest decor, but if your house is unsightly from the outside, a lot of people will never ring the bell.

So by all means start on the outside of the house and use common sense. Keep the lawn mowed and watered, trim the shrubs, make sure there isn’t any peeling paint, and keep weeds out of the flower beds.  Put some color in the landscaping and plant some flowers.

Make sure there aren’t any unsightly vehicles in the driveway. If you have an older car that looks its age, park it down the road or at a friend’s house. Keep the yard clean and pristine.  When you can look at the outside of your house from the street and it looks better than it ever has, it is time to move to the inside of the house.

Here’s a checklist:
- Water, mow, weed, & edge lawn regularly.
- Trim hedges,prune trees, and tend to flowerbeds regularly.
- Mend cracks in walkways, driveway, walls, foundation, and patios.
- Patch up or repaint doors and windows with peeling paint.
- Clean and align gutters.
- Repair and replace loose or damaged roof shingles.
- Repair and repaint loose siding and caulking.
- Keep your garage door closed.
- Move old cars elsewhere while the house is on the market.
- Be sure your front door area has a warm, “Welcome” feeling.

Inside you want to make things look as open and bright as possible.  Keep all the blinds and curtains open and the windows clean. If a room feels or looks cluttered, move some of your extra furniture into a storage space or a friend’s house.  Remember, you’ll be moving anyway, so start sorting and have that garage sale.

Keep the inside of your house smelling good. Any senses you can stimulate when someone enters your house will help create emotional attachment to the home. Don’t overdo the aroma therapy, but make the house smell pleasant - no stale cooking odors, no pet odors, no diapers. 

Keep everything as clean as you can.  Give the impression that you take care of your property and care about your home.  You want your house to look, feel and smell it’s best.  Make those repairs you’ve put off so doors work well and the plumbing doesn’t drip.  Purchase  a couple of ceiling fans or small room fans to keep it cooler for showings.

Are you ready for Buyers:
- Repaint walls or replace carpets with neutral colors.
- Fix all cracks, leaks and signs of dampness in the attic.
- Fix all cracks, holes or damage to plaster, wallboard, wallpaper, paint, and tiles.
- Replace broken or cracked windowpanes, moldings, and other woodwork.
- Repair leaky faucets and showerheads.
- Clean and remove clutter to make your house appear bigger and brighter.
- Rent storage to keep the garage and attic clear.
- Remove excess or very large furniture.
- Hire a professional cleaning service once every few weeks while the house is on the market.
- Remove as many items from kitchen counters, closets, and attics to make your house seem more spacious.
- Make your kitchen and bathroom look as bright and fresh as possible.
- Use your nicer guest towels in the bathrooms.
- Hang up fresh curtains.
- Install new cabinet knobs.
- Make sure kitchen and bathroom are clean and odor free.
- Replace burned out light bulbs.
- Open drapes and blinds.
- Don’t let pets wander around the house during showings.
- Don’t leave dirty dishes in the sink or laundry in the washer or dryer.
- Make the beds.
- Put on soothing music.

Remember that people make emotional decisions. We justify with logic what we decide with emotions.  Keep your mind open, try for a warm and bright interior, have great curb appeal, and you will be on the right path to preparing your house for the market.  Our Coldwell Banker agents can answer any questions you have about getting ready for a sale, and advise you on the best timing for the highest price.

Ready to build on beach front lot. Just off high way off Rose Hall main road.

Asking $125,000.

Visit our Coldwell Banker Listing page for details.

Shopping for a new home is an emotional experience.  It is, however, also a business transaction, and must be treated as such. 

Three of the most devastating things that can go wrong are:
• Paying too much
• Losing a dream home to another buyer
• Buying the wrong home

When you have a systematic plan before you shop, you’ll be sure to avoid these costly errors. Here are some tips on making the most of your home purchase:

Get the information you need
What price do you offer a seller? Is the seller’s asking price too high? Is it a deal? Your own research is important, as is the assistance of a Realtor.  A professional Coldwell Banker Realtor can offer an unbiased opinion on the value of a home, based on many factors and a great deal of information. Without knowledge of the market, your offer could be too much. Or worse, you could miss out on a great buying opportunity.  Hire the right person and trust that person to represent your interests.

Buy YOUR home
What do you need and want in a home? Sounds simple, but clearly identifying your needs and bringing an objective view to home shopping leaves you in a much better position. How much space do you really need?  Too small and you may feel like you live in constant clutter.  Too big and maintenance may become too daunting.  Outline all of your priorities, and work on finding not just a great home, but a great home for you.

Check the title
Before you sign any document, be sure the property you are considering is free of all encumbrances. As a part of his or her services, a Coldwell Banker Realtor can supply you with a copy of the title to ensure there are no liens, debts, undisclosed owners, leases or easements against the title.

Update the survey
Before the purchase is completed, an updated survey is essential. This report will indicate boundaries and structural changes (additions to the house, a new swimming pool, neighbor’s new fence which is extending a boundary line, etc.), and will guarantee that you are indeed getting what you pay for.

Minimize the unexpected
For $300 - $500, a professional inspector will conduct a thorough inspection of the home.  His/her expertise can mean the difference between uncovering major flaws before or after you own a home. Make the final contract subject to the report’s findings.

Get pre-approved
It only takes a few days to get financing pre-approval. When you are shopping for a home, this gives you more power. A seller is more likely to consider an offer from a serious buyer.

Remember additional costs
Besides the funds for the purchase of a home, you’ll need funds for items such as loan fees, insurance, legal fees, surveys, inspections, etc.
 
Take a deep breath
Before you sign, ensure that all documentation clearly reflects your understanding and conditions of the transaction. Has anything been forgotten? Don’t rush. You could lose money, financing, or even the sale if you attempt to push things through too hastily.

World Wetlands Day Feb. 2 brought attention to the fragile nature of our Jamaican wetlands.  Academic co-ordinator for the University of the West Indies Port Royal Marine Laboratory, Dr Mona Webber, stated, “One of the biggest threats against the island’s wetlands continues to be those persons who remove and destroy the various wetland sites to carry out development.”  She added this threat needs to be addressed immediately.

Webber continued, “Wetlands are very important habitats as they protect the shoreline from storm surges, serve as a nursery for fish and protect the coral reef from sedimentation and pollution from land…Failure to protect the wetlands would mean that rising sea levels and increasing global temperatures would have significant impact on the plants and animal species that inhabit them.  This will in the long run reduce the amount of protection wetlands could provide for other habitats, such as coral reefs.”

Jamaica has several wetlands, three of which are designated as Ramsar sites, that is, wetlands of international importance. They include the Black River Lower Morass (1997), Palisades-Port Royal (2005), and the Portland Bight Wetlands and Cays (2006).

(resource:  Jamaica Observer)

4 U.S. demographic shifts for the coming years will become major forces in the housing markets of both the US and their 2nd home countries.  According to Housing in America: The Next Decade, a new research paper authored by John K. McIlwain, senior resident fellow, Urban Land Institute/J. Ronald Terwilliger Chair for Housing, emerging trends in demographics and consumer behavior will result in a residential market very different from that before the recession.

The effects of widespread foreclosures and their drain on market values, and the loss and need to re-establish a private market residential finance system, will be felt more in the U.S.  But shifts in housing demand triggered by baby boomers, their children, and by immigrant households will be felt offshore. 

Currently, there is an unprecedented number of foreclosures and short sales on the market, and more homeowers are choosing to walk away from the mortgage rather than sustain a large financial loss through a short sale.  This suggests a fundamental change from the long-held notion of homeownership as the ultimate American Dream.  McIlwain explains that this disillusionment over homeownership - as a way to build wealth - could persist for decades to come, as those entering the housing market will be more apt to rent longer, and to place more emphasis on buying for shelter rather than investment purposes.  The shift away from using real estate as a means to build an investment portfolio could be felt throughout the region.

The demographic waves identified by McIlwain include:

1.  Aging Baby Boomers (55-64) will continue to work, many will stay in their homes until values recover, and those who can move or invest in a 2nd home will opt for mixed-age environments which offer active lifestyles.  This group has lost a very large part of its wealth and ability to invest.

2.  Younger Baby Boomers (46-54) also will not be able to sell their homes at what appreciation they intended, and may not move as quickly as in past years.  Their ability to purchase 2nd homes will be greatly diminished because of flat incomes and less home equity.  They also will be drawn to more compact communities that emphasize connectivity.

3.  Generation Y, actually larger in number than the baby boomers, has grown up with computer technology.  They value community, places - either virtual or actual - where they gather and share information.  They are less interested in homeownership than previous generations, have smaller incomes, and want walkable, connected communities which are Green.

4.  Immigrants (in the US), which already number over 40 million, will have a huge impact, especially when extended families are included - children, grandparents, grandchildren, etc.  The tendency of immigrants to cluster, and to live in multi-generational households, suggests that they would prefer larger homes if they could afford them and in neighborhoods with a strong sense of community.  Any investment in 2nd homes would mirror the “cluster” concept.

All of these 4 groups share the desire to live and work in more pedestrian-friendly, transit-oriented, mixed-use environments.  McIlwain concludes, “The suburban century is over. This is the urban century.”

Many will still be able to afford vacation home whole ownership, or fractional ownership shares in vacation destinations, and investments in a property for future retirement.  But the numbers of those buyers who will be from the US - according to this study - will dramatically decrease, and their interests in the types of properties considered, with what is left of their disposable income,  will - or has already - definitely change.  Read more on McIlwain’s report at RisMedia, and visit the Urban Land Institute to learn about the global real estate community.

China has agreed to finance road, housing and shoreline renovation projects totaling $500 million in Jamaica.

The agreement was reached during a visit by Prime Minister Bruce Golding and private sector representatives who are in China in search of economic aid.

Projects include affordable-home construction and the renovation of a shoreline leading to Kingston’s international airport that was severely damaged by hurricanes Ivan and Dean in 2004 and 2007.

Foreign Affairs Minister Kenneth Baugh did not specify whether the money was a donation or a loan in a statement issued Thursday. It is unclear when the projects will get under way.

Jamaica and China established diplomatic ties nearly 40 years ago.

(resource: BusinessWeek)

Asking $1,250,000 US.

Visit our Coldwell Banker Listing page for more photos.