JULY 2014 HOMES FOR RESIDENTS & VISITORS
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Featuring properties for sale and rent, helping residents and visitors to find the perfect home. Available free every month, distributed island wide.
America’s Cup To Raise Demand for Vacation Rentals By Glenn Jones In 2013, one-third (about 217,000) of spectators to the America’s Cup in San Francisco came from outside the state of California, according to a Bay Area economic report. Because of Bermuda’s remote geography, nearly 100% of spectators will fly in and all of them will need a place to stay while here. The event lasts for weeks. Last year, 23% (59,423) of air visitors to Bermuda stayed in private homes, according to the Bermuda Tourism Authority. A sizeable portion of that number represents people in vacation rentals – a number already on the rise and would potentially skyrocket if the America’s Cup should sail on Bermuda’s Great Sound in 2017. 2013 San Francisco America’s Cup Source: Bay Area Council Economic Institute
Local homeowners who rent their houses to vacationers stand to benefit greatly if officials in Bermuda land the America’s Cup in 2017. Participants of the international sailing event need accommodations for weeks at a time and hotels are often not practical. Furthermore, Bermuda is sure to run out of high-end hotel rooms based on the number of affluent sailing spectators that typically attend. Palatial vacation rentals will be a popular plan B, if not already designated as the preferred plan A.
Whether you’re in the market to build a new home or remodel your current home. Consider Gorham’s Management & Design Services to handle every aspect of your project.
THE COMPANY YOU KNOW & TRUST
Economic Impact $364.4 million
Spectators 700,000
jobs 2,863
Spectators from outside California 217,000
FROM INCEPTION
TO COMPLETION. OUR GOALS ARE TO INNOVATE, DESIGN, BUILD, AND SAVE YOU MONEY.
THE SINGLE SOLUTION FOR ANY BUILD. Allow Gorham’s to partner you with our preferred team of architects and contractors. Take advantage of our buying power when we procure materials for your project. Our full design service includes 3D renderings, budgeting, financial forecasts. Stay on time and on budget with Gorham’s Management & Design Services.
OUR CORE PROJECT VALUES ARE: Transparency, Accountability, Integrity, and Connectivity. Steve Cristofoli - Project Manager email: scristofoli@gorhams.bm phone: 441.295.1550 x 181 cell: 441.531.1550
www.islandpropertynews.com / July 2014 / Island Property News 01
Real EState Index Gorhams Realtor listings and overseas purchasers guidelines Cranfields Property Bermuda Roderick De Couto Progressive Realty Joy Lusher Sinclair Realty Rental listings Rowe Spurling BF&M
REALTOR LISTINGS
Pg. 1 Pg. 2 Pg. 3 Pg. 3 Pg. 3 Pg. 4 Pg. 5 Pg. 6 Pg. 7 Pg. 8
Island Property News is published and printed by MediaHouse Bermuda - Bermuda Sun and Island Press, in partnership with Tricia Lines and Diana Heslop
Booking Deadline: 15th of the month prior to publication Artwork submission deadline: 20th of the month prior to publication
CONTACT
Sales Carlita Burgess 278 1852 Diane Gilbert 278 1853 Claire James 278 1855 Trikeita Outerbridge 278 1804 Sales & Editorial Lisa Beauchamp 278 1850 Robyn Bardgett 278 1810 Distribution Larissa French 278 1851 Print Chris Mitchell 278 1809 Rental listings Larissa French lfrench@bermudasun.bm Email: islandpropertynews@bermudasun.bm Pages featuring the AR icon ‘come alive’ using the FREE Layar App.
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Dunlop Realty Co. Ltd T. 295-0734 • F. 295-8266 E. ldunlop@dunloprealty.bm www.dunloprealty.bm ele Properties 1609 VIP Exec T. 296-7096 • F. 297-3787 T. 232-1609 • F. 232-1610 E. info@eleproperties.com E. info@1609vipexec.com www.eleproperties.com www.1609vipexec.com Fiduciary Realty Acorn Realty T. 705-9538 • Lea T. 505-0675 T. 236-4800 • F. 232-4222 E. info@acorn.bm F. 232-2989 • E. mail@fiduciaryrealty.com www.acorn.bm www.fiduciaryrealty.com Bermuda Longtail Real Estate Ltd. Gar Bermuda Ltd. T. 232-2769 • F. 232-2770 T. 234-1674 • C. 332-9770 E. cesa@bermudalongtailrealestate.com E. gar@garbermuda.bm www.bermudalongtailrealestate.com W. www.garbermuda.bm Bermuda Property Link Ltd. Gutteridge-Hart T. 232-7272 • F. 232-7273 • C. 704-6212 Property Management & Rentals E. ann@bermudapropertylink.com T. 232-2437 or 504-0022 www.bermudapropertylink.com E. gh@northrock.bm Bermuda Universal Realty Ltd. Harbour Realty Ltd. T. 295-1546 • F. 295-8734 T. 296-1518 E. jonelle@harbourrealty.bm Boeotia Property Company Ltd. Horsfield Property Services Estate Agents, T. 297-3038 • F. 297-2348 Auctioneers & Appraisers E. boeotia@northrock.bm T. 292-9328 • F. 278-9928 CapCar Enterprises Ltd. E. horsfield@logic.bm T. 295-0754 • 295-1495 Island Properties E. info@capcar.com www.capcar.com T. 236-2644 • F. 236-6202 C.R.E. Properties Ltd. E. neil@iproperties.bm T. 535-5487 • F. 295-8158 E. creprop@ibl.bm www.creproperties.com JBM Realty & Associates T. 331-5532 • F. 234-2050 CareCorp Ltd. E. johnette.jbmrealty@northrock.bm T. 292-2432 • F. 292-2175 www.jbmrealtyandassociates.com E. logproperty@northrock.bm Joy Lusher Real Estate Ltd. Carib Bermuda Realty T. 236-5120 • F. 236-7409 T. 735-3471 • F. 297-5873 E. info@joylusher.com E. caribbermuda@yahoo.com www.joylusher.com www.caribbermuda.free.bm KM Realty Ltd. Century 21 Bermuda Properties C. 535-2400 • E. kmrealty@northrock.bm T. 441-293-2121 F. 441-295-6840 www.kmrealty.bm www.century21bda.com Kim Sheen Properties Coldwell Banker Bermuda Realty C. 734-1264 • T. 541-4977 T. 292-1793 • F. 292-7918 E. ksheen@northrock.bm E. mail@brcl.bm www.kimsheenproperties.bm W: www.bermudarealty.com Kirkland Realty & Associates T. 335-3975 Coral Properties Limited E. kirklandsrealty@northrock.bm T. 295-7434 • F. 295-5944 Kitson & Company Ltd. Cranfields Property Bermuda Ltd. P.O. Box HM 449, Hamilton HM BX T. 305-8074 • E. sharon@bda4sale.com T. 295-2525 • F. 295-0814 www.bda4sale.com E. realestate@kitson.bm Crisson & Company Ltd. www.kitson.bm T. 295-0826 • F. 295-3221 Leonard O. Gibbons E. crissonco@crissonrealestate.com Real Estate Ltd., www.crissonrealestate.com T. 292-4905 • F. 292-2175 Dale Young Properties Ltd E. logproperty@northrock.bm T. 441-236-5200 • F. 441-236-5201 Mark Orchard Real Estate Ltd. E. dyproperties@logic.bm www.dyproperties.bm T. 524-6905 • E. mark@More.bm www.More.bm DeCouto & Dunstan Real Estate Ltd. Masterkey Management Ltd. T. 292-0616 • F. 295-4618 T. 234-7287 • C. 300-7287 E. barrydc@northrock.bm E. sharika@masterkey.bm www.decoutoanddunstan.com www.masterkey.bm
McInnis & Associates Ltd. T. 295-1663 • Cell: 737-5753 F. 292-1210 • E. heather@hmcinnis.com www.hmcinnis.com Moura & Associates T. 236-0737 • F. 236-0413 E. info@mouraandassociates.com www.mouraandassociates.com My-Bermuda-House.com Limited Tel. 292-6245 E. info@my-bermuda-house.com www.my-bermuda-house.com Platinum Realty T. 238-6037 • F. 238-6035 E. info@platinumrealty.bm www.platinumrealty.bm Premier Properties T. 232-0083 • F. 232-0083 E. premierpropertiesinfo@yahoo.com www.premierpropertiesintl.com Prime Equities Real Estate T. 295-4446 • F. 292-8324 Progressive Realty Ltd. T. 295-4255 • F. 292-9950 E. mail@prg.bm • www.prg.bm Property Group Ltd., The T. 234-6900 • F. 234-6892 E. info@property-group.com www.property-group.com Rego Sotheby’s International Realty T. 292-3921 • F. 295-7464 E. sales@regosir.com www.regosothebysrealty.com Rego Realtors T. 292-3921 F. 295-7464 E. sales@regorealtors.com www.regorealtors.com Roderick DeCouto Real Estate Ltd. T. 292-4990 • F. 295-8530 E. info@decoutore.com www.decoutore.com Ruby Dane Realty T. 232-4461 • F. 232-7280 E. rworrell@ibl.bm www.rubydanerealty.com Sinclair Realty/Christie’s Great Estates T. 296-0278 • F. 295-8693 E. estates@ibl.bm www.sinclairrealty.com SmithBridge Realtors T. 292-1388 • F. 296-0069 Somers Realty Ltd. T. 236-4001 • F. 236-5588 E. somreal@ibl.bm Ted Gauntlett Realty Tel. 295-4747 • Fax. 295-4746 E. gauntlett@logic.bm. www.bermuda.com/hosted/tedgauntlett Wigwam Real Estate Ltd. T. 297-3800 • F. 297-3801 E. peterlever@ibl.bm W.J. Seymour Real Estate Ltd. T. 441-292-2342 • F. 441-292-8210 E. info@seymourrealty.bm www.wjseymour.bm
OVERSEAS AND NON BERMUDIAN BUYERS
The purchase of property in Bermuda by Non Bermudian / International Buyers is subject to certain restrictions and it would be useful to have a knowledgeable real estate professional to help navigate the process. Information supplied by Cranfields Property Bermuda Generally speaking: International Buyers may only buy a house with an Annual Rental Value (ARV) over $177,000 or a condominium with an ARV over $32,400 which is in a Designated Development. Prospective International Buyers must apply for a Licence to Acquire Land and submit an application along with a consideration fee of $1 416.00 (refunded if the license to own property is granted). From 1st April 2013 the cost of a License to Acquire is reduced from 18 percent to 6 percent of the purchase price of a condominium and from 25 percent to 8 percent of the purchase price of a house. After 1st October 2014 the licence fees will rise to 8 percent of the purchase price of a condominium and 12.5 percent of the cost of a house
02 Island Property News / July 2014 / www.islandpropertynews.com
Agreement in principle between an international buyer and seller includes a deposit of 10 percent of the purchase price. The deposit is held in escrow, subject to contract, and deducted from the overall purchase price. Properties that form part of a Tourism Designated Development or a Resort property are subject to a 6.5 percent licence fee. International Buyers may not buy land without a dwelling on it, commercial real estate or property intended mainly to earn rental income. International owners may be granted permission to rent their property by the Immigration Department. Permission rarely extends to periods of more than a year and includes a tax of 7.25 percent. Prospective international buyers may want to review the Bermuda Immigration and Protection Act 2007 amended 2012 or contact me for assistance.
www.islandpropertynews.com / July 2014 / Island Property News 03
Selling and Staging By Sharon Cranfield / Cranfields Property Bermuda Ltd
This is not for the faint-hearted! The importance of impressing your buyer with the appearance of the home is paramount. It really pays to help them envision how they would use the space and live comfortably in your home. This means appealing to their senses of sight, smell, sound, feel and touch of your buyer. Declutter : Yes it’s hard to do! But it’s harder for buyers to picture themselves in your home when they see personal memorabilia on every surface. It also distracts the buyer from seeing the merits of your home. Be prepared to store surplus items leaving a select few to enhance chosen areas. It won’t be forever, only while your home is actively being shown. Clean: Do a really thorough clean; make every room immaculate. Remember the senses of touch and smell –– leave nothing sticky and smelly (that includes the dog). Wipe down all surfaces, clean windows to maximize light, clean carpets and soft furnishings, open the windows to air the rooms. You aren’t ready to place furniture or pretty things up until this is done! Entrance: The first impression –– from the moment the buyer sees the front door it is show time. Clean, shine, tidy –– make it attractive. There’s nothing like a pot of bright flowers at a welcoming entrance door to make a buyer perk up. Less is more: Show off the floor and wall space. Too much furniture makes a room feel smaller, using smaller-sized furniture can make an area appear more spacious. The buyer will pay more for greater square footage and we need to help them see that it is there. Flow and use of space: Draw buyers to highlights of each room by arranging the furniture around focal
HOMEMADE WILLS Cheri Minors, Associate, Cox Hallett Wilkinson Limited
04 Island Property News / July 2014 / www.islandpropertynews.com
points –– a lounge suite surrounds the fireplace, the bed is the focal point in the bedroom –– make it sumptuous and inviting. Outside patio chairs look to the view –– invite the buyer to want to be the owner of that view. Freshen: New paint –– you can’t beat it for an instant freshen and clean up. Neutrals are best as they lighten and brighten. Then dress your room – accessorize –– have fun by adding vibrant accents to tie soft furnishing colours together and to make the room “pop”. Don’t forget the power of the sense of smell and this is where the use of freshly scented candles, potpourri and bath soaps can be your friend. Lighting: Bright equals clean –– replace missing light bulbs (definitely in the kitchen and bathroom). Add a lamp to a dark corner and attractive matching lamps to frame a bed. Use colourful sheer drapes that enhance the windows. Lighting is hugely important to ambience and how a buyer sees and feels about a room. Set the Scene: Stand back and imagine –– how much warmer and inviting would the fireplace be if arranged with candles? What can you to do make the kitchen feel like the heart of the home? Does the dining room look inviting? What if you filled a lovely unused bowl with oranges and show it off as a bright table centerpiece? And, in the bathrooms think “spa-like” and update with fluffy towels and coordinated shower curtains etc. Change isn’t easy: And there is no guarantee that this will pay off but one thing is for sure, you stand a far better chance of selling if your home is appealing.
Bermuda’s Luxury Real Estate Specialist Whether you are seeking a beach, boating or golf estate, historic home, private island or quality condominium, Sinclair Realty offers the finest cache of properties island-wide. As Bermuda’s exclusive affiliate of Christie’s International Real Estate, we look forward to providing you with the depth of expertise and excellence that is characteristic of everything Christie’s does.
Tel +1 441 296 0278 | estates@logic.bm | www.sinclairrealty.com
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RENTAL LISTINGS
Deadline for the submission of rental listings is the 15th of the month prior to publication
Please send your rentals to Larissa French at lfrench@bermudasun.bm or phone 278-1851
1 BEDROOM
$6,000.00 (Listing No. (737) “Windswept” Executive stand-alone cottage enjoying water views all the way to Dockyard.Located within a minutes walk to the Lower Ferry stop offering ease of commute into Hamilton, this home is perfect for the executive single or a couple, presenting a respite from the busy world. Designed as an open-plan layout, the view is enjoyed from every room. The living room, dining room and den soak up the vistas through tall windows and lead out to the balcony through glass doors. The spacious bedroom is generously proportioned (20ft x 16 1/2 ft) with its own private balcony also enjoying the views. An ensuite bathroom includes bathtub and shower and two pedestal sinks. Unfurnished. Available 1st August 2014 Roderick DeCouto Real Estate Ltd. Email: info@decoutore.com. Ph292-4990
$5,000 Pembroke: Part of a duplex in Spanish Point with shared pool, Cobbler’s Crest is a two bedroom, two bathroom unit with powder room, updated kitchen with all new stainless appliances and granite counter tops. Additionally, there is central z/c and heat, working fireplace, a garage, hardwood floors throughout, and beautiful grounds with views. Available now, unfurnished. JOY LUSHER REAL ESTATE LTD. Contact: Donna Bennett: donna@joylusher.com or 535-9909 or Diana Martin: diana@joylusher.com or 337-0226 or Christie Plathe: Christie@ joylusher.com or 332-2296.
$7,500 Paget: Three bedroom three bathroom condo with spectacular views over Bermuda’s beautiful South Shore and beaches. Modern, spacious, two gas fireplaces, tiled throughout, reverse cycle a/c, large covered porch. Shared pool, and direct beach access. Available now, semifurnished or unfurnished. JOY LUSHER REAL ESTATE LTD. Contact: Diana Martin: diana@ joylusher.com or 337-0226 or Donna Bennett: donna@joylusher.com or 535-9909 or Christie Plathe: Christie@joylusher.com or 332-2296.
3 BEDROOMs
2 BEDROOMs
$3,500.00 (Listing No. 734) Charming two-storey Bermuda Cottage at Roxdene, Pembroke. This unique cottage location on the grounds of Roxdene is within easy walking distance of Hamilton and is part of a friendly residential complex. The cottage comprises an open plan living/dining room with a working fireplace, plenty of windows giving it lots of natural light, wood floors, a spacious kitchen with gas stove, fridge/ freezer, and a brand new stacked washer and dryer. Upstairs there are two spacious bedrooms and one full bathroom. The cottage has a concrete patio area off the living room for outdoor entertaining, and tenants of the cottage may use the industrial size laundry facilities of the Roxdene Condominiums for heavy duty items. Available now. Roderick DeCouto Real Estate Ltd. Email: info@decoutore.com. Ph. 292-4990
$5,500 Hamilton Parish: Lovely views of Harrington Sound from the deep covered porch of this desirable rental, with two or three bedrooms, two bathrooms, powder room, dining room and kitchen. Unfurnished and available now. JOY LUSHER REAL ESTATE LTD. Contact: Donna Bennett: donna@ joylusher.com or 535-9909 or Diana Martin: diana@joylusher.com or 337-0226 or Christie Plathe: Christie@joylusher.com or 332-2296.
Realtors - Don’t forget to place your real estate rental listings for free at
www.sunshopper.bm.
06 Island Property News / July 2014 / www.islandpropertynews.com
$9,000.00 (Listing No. 515) Immaculate home with swimming pool in lovely and convenient Paget neighborhood. This 3 bedroom/2 bathroom home offers spacious rooms and lots of storage. The tiled entrance foyer leads into an open floor plan Living Room/Dining Room with a fireplace. French doors lead out to the private patio and entertainment pool area. The adjacent Family Room also has French doors leading out to the patio/pool area. Modern kitchen with dinette area includes stainless steel appliances, granite counter tops, and plenty of cabinets. The separate laundry room has more closet/storage space and is convenient to the kitchen and attached garage. Additionally there is a lower Studio Apartment – ideal for guests or a nanny – with its separate private entrance, full bathroom, and laundry area. The Studio can be negotiated into the lease, if required. Available Mid-August 2014. Roderick DeCouto Real Estate Ltd. Email: info@decoutore.com. Ph. 292-4990
Rowe Spurling Paint By Karolina De Costa Selection Get them involved by teaching them about colours and bring them to the paint store to be a part of the selection process. Now that you have a new colour, it’s time to focus on the best type of paint finish. Most paints come in flat, matte, eggshell and semi-gloss finishes but not all of them may be suitable for your project. While flat paints are great for hiding minor wall imperfections because they don’t reflect light, they’re also difficult to keep clean, and mark up easily. Save them for the ceiling but keep them off the walls and away from little hands. For a washable wall paint that can be kept clean for years, stick with a high-quality matte or eggshell finish. A little soap and water is all you’ll need for general cleaning but these paints will also stand up to a more aggressive cleaning for larger messes. If you’re up-cycling furniture try a semi-gloss finish. It’s perfect for smooth surfaces like woodwork or trim. Whichever finish you choose, to keep your growing little one healthy look for environmentally friendly latex paints that are low or zero in VOCs.
Decorating a room for the arrival of your new little one or updating a space for your growing prince or princess? There are many things to consider –– furniture, fabrics, and accessories. If you’re on a budget, a new look doesn’t have to break the bank. A fresh coat of paint on the walls can transform a room in an afternoon and old furniture can be given new life with a little elbow grease. There are thousands of paint colours to choose from and often what starts as a fun weekend project can quickly become frustrating and overwhelming. To narrow down your choices, pick your wall paint last. If you’re getting ready for a new baby, start with furniture, fabrics and accessories and then pick a colour that will complement them. If you’re redecorating for your growing child use their favourite blanket, toy or picture as inspiration.
PREMIUM
Volatile Organic Compounds get released into the air as the paint dries and may cause headaches or dizziness. Ask your retailer about the VOC content of their paint or look for the The Green Promise logo on our Benjamin Moore Paint labels. The Green Promise is Benjamin Moore’s assurance that its environmentally friendly paint meets and exceeds the strictest industry standards without sacrificing performance. How much paint will you need? One gallon of paint will cover between 350 to 400 square feet and is usually enough to paint the walls of an average size 12 x 14ft room once. Remember that darker colours may need more than one coat. When painting over an existing colour, a self priming paint will eliminate the need for a basecoat. Welcoming a new addition to your family and watching your children grow up is an exciting time for any parent. Giving them a personal and fun space can help them learn and explore. For more painting tips, DIY advice or decorating inspiration, check out our Facebook page at www.facebook.com/rowespurlingpaintcompany or visit our website at www.rowespurlingpaint.com.
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www.islandpropertynews.com / July 2014 / Island Property News 07
I N S U R A N C E M AT T E R S F O R Y O U R H O M E
Home Insurance
Update Your Home Insurance BF&M’s Home Insurance can make sure you are protected – from building and contents to mortgage protection that provides benefits in case of disability or death. Are you renting? BF&M offers contents-only cover that includes everything from possessions to tenant liability. Phone 295-5566 for details or go online at www.bfm.bm.
112 Pitts Bay Road, Pembroke HM 08, Bermuda
295-5566
08 Island Property News / July 2014 / www.islandpropertynews.com
bfm@bfm.bm
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BF&M GENERAL