Luxury Real Estate

By Jim Walberg
From his blog: Some East Bay Real Estate Is On The Slippery Slide Of FEAR!

Once you get on the Slipper Slide of Fear, it is difficult to get off! Please stay off that slippery slide!

So, I picked up USA Today last Saturday on my flight to the Luxury Real Estate Fall Conference in Philadelphia where I was a presenter. The USA Today headline was, “FEAR is a slippery slide!” In some of my past comments I have used the sailor’s mantra, “Do not be fearful!” It still applies today, in spite of an almost 900-point recovery on the Dow Jones the past two days. Don’t forget… once you step on the “slippery slide” of fear, the momentum carries you away very quickly.

The voice of experience, the voice of the local authority, and the voice of credibility can still prevail. And we are the ones that need to be that voice. I just completed a walk from the Philadelphia Ritz Carlton to Constitution Hall, the Liberty Bell, and other reminders of the work our founding fathers did on our behalf 230+ years ago. What an inspiring day! (You may recall this is the organization that is the acknowledged authority of luxury real estate! It was founded by John Brian Losh with a vision of connecting the best luxury brokers and agents in the world – 1,900 members from 65 countries.)

Do you think they were afraid? Of course they were. But, the consequence of letting fear paralyze them from action was not acceptable. Instead of the “slippery slide” of fear taking them away from the liberty and freedom they so dearly wanted for our country, they discovered – step by step – the actions needed to create the most incredible democracy in our world’s history. It was very hard. Thousands of lives were lost as part of that payment for liberty. And, the founding fathers never lost site of end result that was required – FREEDOM!

There is a book I have enjoyed reading several times – “The Tipping Point.” They have a very insightful analysis of Paul Revere’s ride in Boston a few days before the Revolutionary War was officially declared. His ride was so effective that it mobilized the citizens along his route in a manner that called them to action in stopping the British from confiscating their arms stored in Concord. Did you know there was a second rider who was sent in a different direction to alert another section of Massachusetts to immediately prepare to defend Concord. Does anyone remember his name? In fact, I had never heard of him before I read “The Tipping Piont.” He was totally and utterly ineffective in his call to arms.

What was the difference between these two men with similar intentions? Paul Revere was one of the most respected local authorities on what was happening within the colonies which he believed required a liberation movement to break away from British rule – even if it meant war. I would like to be as effective as Paul Revere during these uncertain economic times. We are the local citizens calling our “citizens” to action in order to work through the financial crisis we are in. Will you join me as we serve our clients and communities, and help them off the “Slippery Slide of Fear?” (You get bonus points if you email me with the other freedom rider’s name whose ride was a waste of time.) Contact me with your thoughts. Until next time…


Editor’s Note:
Jim Walberg is the co-Broker/Owner of The Bay Area Team, the most-successful team at Keller Williams Realty-Danville. He is also a member of the global Luxury Real Estate network. Jim is an exceptional blogger, as you can see by visiting his blogs, East Bay Real Estate and Caribbean Islands Realty, and reading his great blog entries like the one above. He is the master of fractionals and other luxury homes in the Bay Area and the Caribbean, and he always has a lot of great opportunities to share. Simply marvelous. This is the last blog entry from Jim that I will have the privilege of editing and posting to the Luxury Real Estate Blog. I am always impressed by his enthusiasm, cheerful disposition and unparalleled kindness. Thank you, Jim, for being such a good person and being a light to a world of shadows and fear. You are amazing.

By Jim Walberg

From his blog: Economic Meltdown Causes Fear In East Bay Real Estate Community!

No matter how positive and resilient one is, we are in stormy economic times! However, opportunities abound in the midst of this economic hurricane!

I was chatting with my friend, Bob Waun – president of Vacation Finance, which is headquartered in Michigan – about the financial meltdown going on in the credit markets and the stock markets. He asked if I was afraid for what is next for our real estate businesses in the Bay Area and the Caribbean. I told him, “Nah… we are still having the time of our life!” The mantra of a sailor is…, “Do not be fearful!” And, the definition of FEAR is False Evidence Appearing Real! If you didn’t know, my favorite condition in sailing is with the gunnels (side rails on each side of the boat) in the water and salt water spraying all over me. You can’t imagine the big grin on my face while I am sailing in those conditions. However, it is not the time for the faint of heart if you are a sailor in stormy seas. It is the time when experience pays off.

Both our Bay Area and Caribbean real estate businesses are thriving… however, it is taking all hands on deck to pull it off. We are blessed with a great team who only look at the glass half full, and are committed to creating a GREAT experience for our customers. Many of our competitors are running down to Starbucks talking about how the sky is falling. The vacuum they are leaving within our real estate community is amazing, and whoever fills that void today will have a larger market share when the market shifts again – which it will. In order to make it through these tough financial times we all need to work together, side by side, realizing storms don’t last forever. At the end of Bob’s and my conversation, he left me with these thoughts:

Faith, beliefs and conviction can be fickle friends when they are tested by panicked masses. “The end is near!” seems to be the chant of the crowd across the world today. But what of substance has changed within our global economy. Did a world of Fathers change their commitment to feed and clothe their children? Did Mothers decide that the generic brand cereal would be fine in mass? Did we stop wanting nice things and suddenly over the weekend decide to settle for less? What is the shift that causes such a panicked response? What fundamental changes are causing us to doubt the future? Purely fear of what “MIGHT” change. Does that sound rational to you?

Historians and economists can attest that humans don’t always act rationally en masse, but as individuals we can still choose to be rational – to act out of faith and conviction, not panic. ”Looking back on it, I was a trader in the pits of the S&P in 1987. It was the most exciting and profitable stock market opportunity of my lifetime,” a friend told me today… Did he notice it at the time? No. He said he was scared to death, but he kept at his work of trading stocks in the best way he could. Life is clearer in the rearview mirror. Regret is more painful than overcoming fear…

In a storm, it is not time for people to jump ship and swim to safety. A storm is the time for experienced sailors to do their work and sail through it. It doesn’t mean we are not afraid. However, it does require us to not panic – which could cause our ship to go down. I promise we will all will make it through this economic mess. We may get wet and a bit wind-blown, but working together, we will get to a safe harbor and live to see another day when we will look back and tell the stories of how we made it through the storms of 2008 and 2009. Contact me today if you would like some help through your storm. Until next time… fair winds!!!


Editor’s Note:
Jim Walberg is the co-Broker/Owner of The Bay Area Team, the most-successful team at Keller Williams Realty-Danville. He is also a member of the global Luxury Real Estate network. Jim is an exceptional blogger, as you can see by visiting his blogs, East Bay Real Estate and Caribbean Islands Realty, and reading his great blog entries like the one above. He is the master of fractionals and other luxury homes in the Bay Area and the Caribbean, and he always has a lot of great opportunities to share. Such wonderful words of hope! Thank you, Jim, for your marvelous understanding of what is really happening in today’s market. People are filled with great fear at the moment and it’s hard to know what to do when we’re in the middle of so many crashing waves. I trust that wisdom and goodness will lead us to prevail over these hard times. I hope that we will all be wiser about who we put our faith in after we come through this. I am in total agreement with Jim that this is no time to panic or jump ship. Let us return to honesty and kindness, for it appears to me that this crisis was brought on by the dishonesty and selfishness of a few. Now people don’t know who to trust. I hope we will all be trustworthy and good, like I know Jim is.

By Jim Walberg
From his blog: Caribbean Fractionals Expanding To Botany Bay Resort!

St. Thomas, USVI is the location, and the former Preserve At Botany Bay is the spot!

Caribbean fractionals continue to be THE real estate choice of thousands of Caribbean buyers. Last week David Burden – founder and CEO of Timbers Resorts – announced that the ultra-luxury resort located on the western tip of St. Thomas will be managed by the international hospitality management group – Jumeirah Group, which is a member of Dubai Holding. This announcement was made at the signing ceremony with Gerald Lawless, Executive Chairman of Jumeirah (Remember my past article about the Virgin Islands fractional market?).

“We selected Jumeirah as the ideal hotel company to partner with at this unprecedented resort on the secluded western tip of St. Thomas,” remarked David Burden. “Based on their internationally renowned hotel experience in luxury service, they will be a perfect match for our discerning owners and resort guests.”

Jumeirah Botany Bay Resort is one of the true world-class luxury resorts which include mashed-potato sand beaches, private coves to explore, protected coral reefs and a nature conservancy, ultra-fine dining, a beach club as well as a Talise Wellness Spa.

Jumeirah Group will manage the five-star luxury hotel of 84 rooms, spread over nine tropical buildings in a very secluded setting on St. Thomas’ western shores. Scheduled to open in 2011, the 400-acre resort will also include 30 fractional residences, 30 whole-ownership villas and 20 grand estates. These full-service residences will be managed by Jumeirah Living, combining the luxury of a prestige hotel with all the privacy and comforts of your home away from home.

Jumeirah Group is also in the midst of ultra-luxury resort developments in Phuket, Shanghai, Argentina, Mallorca, London, Dubai, Abu Dhabi, Doha and Jordan, among others. “We are impressed by Timbers Resorts’ commitment to responsible development and the care with which they intend to develop this protected enclave,” said Gerald Lawless, Executive Chairman of the Jumeirah Group. “With its secluded location in a tropical environment, the Jumeirah Botany Bay Resort will be true to our ‘STAY DIFFERENT’ promise.”

Timbers Resorts is a world-class developer that we have enjoyed working with in serving our client’s needs. The Timbers Collection is a group of small, private, luxury resort properties in the world’s most sought-after ski, golf, beach and scenic countryside locations. They include One Steamboat Place in Steamboat Springs, Colorado; Botany Bay Resort on St. Thomas in the USVI; Castello di Casole in Tuscany, Italy; The Rocks Luxury Residence Club in Scottsdale, Arizona; Esperanza Resort in Cabo San Lucas, Mexico; The Timbers Club in Snowmass, Colorado; and there latest is The Orchard at The Carneros Inn in Napa Valley.

For further information regarding Botany Bay Resort, or any other of the Jumeirah and Timbers Collection, contact me today! We are standing ready to serve any of your luxury real estate needs around the world! I look forward to speaking with you soon.


Editor’s Note:
Jim Walberg is the co-Broker/Owner of The Bay Area Team, the most-successful team at Keller Williams Realty-Danville. He is also a member of the global Luxury Real Estate network. Jim is an exceptional blogger, as you can see by visiting his blogs, East Bay Real Estate and Caribbean Islands Realty, and reading his great blog entries like the one above. He is the master of fractionals and other luxury homes in the Bay Area and the Caribbean, and he always has a lot of great opportunities to share. Hmm… Botany Bay. You know what that reminds me of? Call me crazy, but Botany Bay brings to mind Khan Noonien Singh, the famous villain in one of my favorite films of all time, Star Trek II: The Wrath of Khan. As Khan would say: Ah, Jim Walberg… my old friend. Do you know the proverb that says vacations are a dish best served warm? It is very warm and pleasant… in the Caribbean! Feel free to nerd out in the Comments section if you know what I’m talking about.

By Jim Walberg
From his blog: Caribbean Real Estate: U.S. Financial Crisis Has Created Great Fear Throughout The Islands!!!

In the midst of the biggest financial meltdown since the 1930s some hard questions are being asked of Jim Walberg this week.

My email box is overflowing and the phone has been ringing off the hook. The people who have an interest in the Caribbean real estate markets are afraid. They are asking some very hard questions that need to be immediately addressed by our Federal government as to how a further financial collapse can be averted. You may recall my past article about the mantra of a sailor as he sets off on a voyage – Do Not Be Fearful! Well, it is a challenge to get to that place when the walls or the U.S. financial structure seem to crumbling down before our very eyes. There is no getting around the fact it is a historic financial mess. My focus is to always get to “what is” as fast as possible, and start making lemonade out of the truck load of lemons that has just been dumped on our front porch.

When I want some well-thought-out ideas on National financial issues I call my REALTOR® friend in Naples, Florida. His name is Mike Lissack. He is one of the smartest financial minds that I know. He came to real estate from a long and successful career on Wall Street where he was named by Worth Magazine as one of “Wall Street’s 25 Smartest Players”, and is one of the top 100 Americans who have influenced “how we think about money.” Before he retired from money management he directed more than $25 billion of investments, supervised their financial reporting, and assisted in the design of their risk management and investment operations.

So we have been corresponding about the financial meltdown that is surrounding all of us. He has some pretty interesting ideas as to what he would do if he was in charge of the direction our Nation takes next, regarding making sure these events never happen again. I felt it was important for you to also review what he has been proposing to me. Here are his latest thoughts, given the events of the last few days. Mike’s view on the financial solutions of our current crisis is we need someone in our government to take proactive action NOW! Here are some more of his suggestions for your consideration, and those of my Caribbean friends asking some very hard questions:

Now that all of Americans again “own” another financial institution because a bailout was required – AIG – and the Feds have stepped in and are claiming they will finally fix the financial mess that our country finds itself in, there are further urgent steps that are needed now:

1) Remove the FDIC cap or raise it to $250k (we do not need any runs on the bank)

2) Nationalize the rating agencies – they do not do their assigned task – they rated junk bonds “AAA”, and then their reversals of these ratings led to the present financial meltdown. Ratings are a utility that needs to be performed by competitive institutions who answer to investors – not issuers and NOT bankers.

3) Establish a “swaps” clearinghouse and prohibit implicit leverage on “swaps” by legislating that no position can be swapped or hedged more than once without a prior trade being offset.

4) Prohibit “third order and higher” derivatives. There is an underlying transaction, it spans derivatives. Then there are derivatives which rearrange the first set of derivatives. At that point, enough is enough!!! The system cannot deal adequately with the complexities of continuing to dilute and issue more derivatives using the same bundle of “AAA bonds” that are actually junk.

5) Write down 90 percent of current appraised value guarantee on Fannie and Freddie mortgages.

6) Announce a national shared equity appreciation fund into which the excess of the 90 percent of current appraised value loans can be dumped.

This is a summary of his second round of suggestions for me to consider. His first email addressed the Fannie Mae and Freddie Mac mess. Let me know your thoughts. Also, if you want to contact him directly, go to www.Lissack.com. We will always figure out a way to make lemonade out of lemons with this financial mess. Do you know why? BECAUSE WE DON’T HAVE A CHOICE! Until next time… fair winds to you in the midst of a BIG storm!!!


Editor’s Note:
Jim Walberg is the co-Broker/Owner of The Bay Area Team, the most-successful team at Keller Williams Realty-Danville. He is also a member of the global Luxury Real Estate network. Jim is an exceptional blogger, as you can see by visiting his blogs, East Bay Real Estate and Caribbean Islands Realty, and reading his great blog entries like the one above. He is the master of fractionals and other luxury homes in the Bay Area and the Caribbean, and he always has a lot of great opportunities to share. This whole situation makes me sick. The fear is practically palpable and we are right on the edge of crumbling… why? Are there fewer workers, fewer skills, reduced demand or anything like that? No. The big problem is greed and pride. Honestly, it’s very hard for me to find anything positive in this current situation. Dishonesty has become so rampant that the truth is becoming harder to find. Why should we fall? My heart is filled with sorrow and disgust. I am not a negative person, but it seems to me that the foolishness of a few people has led to the destruction of much that good people have built up. How can we let this stand?

By Jim Walberg
From his blog: A Different Type Of “Caribbean Hurricane” Disaster Has Been Averted!

American Airlines has agreed to restore flights this Winter San Juan and St. Thomas!

You may recall from a past article about the “Hurricane” that was coming to the Caribbean the first week of September. That impending disaster was having American Airlines cancel almost 40% of their winter flights to St. Thomas and San Juan, Puerto Rico. It would be have been devastating to the tourist industry of the Caribbean, since the “high” tourist season is about to begin the end of next month. Well, the disaster has been averted because of the hard work of the Virgin Islands Tourism Commissioner Beverly Nicholson-Doty and Gov. deJongh’s Public/Private Sector Airline Committee.

Last month, Ms. Nicholson-Doty and the Airline Committee from the USVI flew to Miami to personally request the American Airlines senior vice president for the Caribbean and Latin America regions to reconsider. They met with Peter Dolora with the intention of not leaving the meeting until American Airlines renewed their commitment to reinstate the winter flights to the Caribbean.

American Airlines’ once-a-day flight between Miami and St. Croix will begin again on November 2nd. The daily flight between New York’s JFK Airport and St. Thomas will resume November 20th, and a second flight will be added on Fridays starting December 18th. American’s flight between Boston and St. Thomas will run on a twice-weekly schedule starting November 2nd, and on December 18th, it will be back to flying five days a week.

There is a piece of the transportation puzzle to the Caribbean that has yet to be solved with American Airlines that is troublesome. American Airlines’ inter-island connecting flights, served by American Eagle, WILL NOT continue to go from San Juan to the USVI! “We are looking at various options,” Nicholson-Doty said, declining to be specific because of ongoing negotiations. So, three weeks ago American Eagle cut its eight daily flights between St. Thomas and San Juan to only three, and there is no agreement if the American Eagle flight schedule will ever re-instate the five flights they are abandoning. American Eagle is also eliminating five of its eight daily flights between San Juan and St. Croix. Again, it is a very difficult situation for the USVI and the Caribbean, because there was an increase in tourist visits to the Caribbean the past 12 months, and now American Airlines is faced with the reality that their business model still cannot make a profit, even with the increased numbers of passengers from last year! Oil prices are still a critical issue for all of the airlines.

The USVI Tourism Department is “putting its money where its mouth is” by investing $1.5 million of its money into partnering with American, Delta and, “to a lesser degree,” Spirit Airlines to advertise the territory and the airlines! This is BIG news! The USVI knows that it is a win-win scenario if they can drive more traffic to these airlines in order to keep these routes as full as possible – even though they have cut back many of their flights. Their marketing efforts include radio and newspaper advertisements, billboards and airport signage. Additionally, in Atlanta buses were wrapped with ads touting the U.S. Virgin Islands and a tagline to call Delta Vacations.

In return for the USVI advertising investment, Nicholson-Doty said the airlines provided complimentary airplane seats for travel agents, travel writers and sweepstakes winners. One of the target cities for this ad program is Charlotte, North Carolina. “The USVI Tourism Board is spending $375,000 to advertise St. Croix in radio, newspaper and Internet ads,” Nicholson-Doty said. U.S. Airways flies to St. Croix from Charlotte on Saturdays. “The ad campaign encourages early bookings to the USVI,” Nicholson-Doty said. Some of the other airlines thinking of serving the Caribbean have contacted the USVI Tourism Board seeking revenue guarantees, but Nicholson-Doty stated, “The USVI could be paying for empty seats, and we are only developing marketing relationships that are a win-win for both sides.”

Another Hurricane has been averted by the foresight and determination of the current USVI administration to face the issues head-on and find solutions. So those of you who were worried about how you were going to get to your favorite spot in Paradise – have a rum punch at Duffy’s Love Shack in Red Hook, instead. Until next time… your Caribbean lifestyle reporter remains on duty!!!


Editor’s Note:
Jim Walberg is the co-Broker/Owner of The Bay Area Team, the most-successful team at Keller Williams Realty-Danville. He is also a member of the global Luxury Real Estate network. Jim is an exceptional blogger, as you can see by visiting his blogs, East Bay Real Estate and Caribbean Islands Realty, and reading his great blog entries like the one above. He is the master of fractionals and other luxury homes in the Bay Area and the Caribbean, and he always has a lot of great opportunities to share. Whew! That is definitely good news. Many Caribbean countries depend upon tourism for their economies, especially during the winter when U.S. travelers want to escape the cold for the “isles of perpetual June.” As I mentioned in my last blog entry, I just finished writing a City Spotlight on Nassau, Bahamas for the winter 2009 issue of LuxuryRealEstate.com Magazine. It’ll be out in December.

By Jim Walberg
From his blog: Fannie Mae & Freddie Mac Bailed Out Today! Boom Or Bust?

“The Feds took over Fannie Mae and Feddy Mac today! Time will tell what happens next for East Bay Real Estate consumers and who will pay the bill, says Jim Walberg.

The Federal Government made their historic announcement today – a Federal bailout of Fannie Mae and Freddie Mac could not wait another day! The straw that broke the camel’s back was the liquidity condition of both of these mammoth financial entities. It is frightening to imagine that both of these companies own or guarantee about $5 TRILLION in home loans – about half of all the nation’s total home loans! And, we need to be reminded about my phrase, “Do not be fearful!” – False Evidence Appearing Real!

The plan that was announced today by Treasury Secretary Henry Paulson and James Lockhart, director of the Federal Housing Finance Agency, places the two companies into a “conservatorship” to be run by the Federal Housing Finance Agency. Under conservatorship, the government would temporarily run Fannie and Freddie until they are on stronger footing. “A failure of Fannie and Freddie would affect the ability of Americans to get home loans, auto loans and other consumer credit and business finance. And a failure would be harmful to economic growth and job creation,” Paulson said at a news conference today in Washington. With this bailout, the Feds have now made $200 BILLION available to them to shore up their liquidity issues. Again, this money is coming from the United States as an addition to the national debt.

The role of these two financial institutions is to buy mortgage loans from banks and package those loans into securities that they either hold or sell to U.S. and foreign investors. This allows national banks like Wells Fargo Bank and Bank of America to make more loans. The problem affecting the mortgage meltdown has hit Fannie Mae and Freddie Mac VERY hard! The past 12 months have seen an alarming number of their loans started going into default, emptying out the companies’ financial reserves and sending ice through the veins of the credit markets around the world. Costs have skyrocketed and the Feds could not wait another day by placing them into a conservatorship. The Treasury Department is now guaranteeing the solvency of these two lenders. That means that YOU and I are the ones guaranteeing the loans because more money is just going to be printed to bail them out.

With this bailout, mortgage rates on conventional, 30-year fixed-rate loans are expected to fall by the end of September. If the mortgage interest rate falls for home loans, it should attract more buyers into the market, which would then have a positive effect on home prices. However, Greg McBride, a senior financial analyst at Bankrate.com, did say, “Continued investor wariness and a depreciating housing market may keep rates from dropping. We are not looking at sunshine and daffodils in the housing market anytime soon.”

Paulson stressed that both Fannie and Freddie are still in business and will have a new management team. Freddie CEO Richard Syron and Fannie CEO Daniel Mudd will no longer run the companies, with the FHFA taking over control of their boards. Syron and Mudd will be replaced by two market veterans with the job of restoring the mortgage agencies to a profitable condition. Herb Allison, the former chairman and CEO of pension provider TIAA-CREF, will head Fannie Mae. Allison formerly served as president of Merrill Lynch. David Moffett, who served as vice chairman and chief financial officer of U.S. Bancorp until early 2007 and then joined the Carlyle Group private-equity firm as a senior adviser, will take over Freddie Mac.


Federal Reserve Chairman Ben Bernanke, who led the efforts to help get the U.S. housing market and the broader economy back on track, applauded the decision by Lockhart and Paulson. “These necessary steps will help to strengthen the U.S. housing market and promote stability in our financial markets,” Bernanke said in a statement. The real test will come when financial markets around the world open Monday. Pimco’s Bill Gross, a widely followed bond fund manager, said that the Freddie-Fannie plan was the right move. “This is a significant step and almost exactly what we had hoped for,” Gross told CNNMoney.com Sunday.

Time is always the judge of any decision, especially one of this magnitude. I am not a fan of ever increasing our national debt. Today it is already staggering without the additional billions required to support this bailout. Still, the rescue of Fannie and Freddie may go a long way towards bringing stability to the housing market while making it easier for consumers to obtain affordable mortgages. We will see. I look forward to your comments.


Editor’s Note:
Jim Walberg is the co-Broker/Owner of The Bay Area Team, the most-successful team at Keller Williams Realty-Danville. He is also a member of the global LuxuryRealEstate.com network. Jim is an exceptional blogger, as you can see by visiting his blogs, East Bay Real Estate and Caribbean Islands Realty, and reading his great blog entries like the one above. He is the master of fractionals and other luxury homes in the Bay Area and the Caribbean, and he always has a lot of great opportunities to share. This is a pretty scary time. It’s disappointing to see that things became so tough for these two institutions that they were unable to survive without government help. This definitely deserves some close scrutiny, and I hope that things will turn out all right in the end.

By Jim Walberg
From his blog: Palmetto Bay Resort in Belize Continues To Feature “Green Development”

This boutique luxury resort on the Placentia Peninsula is a trendsetter when it comes to its “Green Features”!

Palmetto Bay Resort is one of the leaders of “green” Caribbean developments in Belize. This luxury resort has integrated into its design certain features that other developers are watching closely. Palmetto Bay Resort has carefully considered its impact on the environment from the earliest planning stages of its development. Some of the features they have implemented are:

- Geothermal cooling and heating technology.

- Solar power for outside illumination – pathways, water features, landscaping and the beach.

- Grey-water systems to recycle water.

- LED lighting that will reduce energy costs by as much as 80 percent.

- Indigenous species of plants, including fruit trees, in the landscaping.

- Cisterns to catch and store rain water and act as a renewable water supply for the saline pool, water features and landscaping.

- Strategically implemented wind power.

This gated project has plans for around 120 full-ownership condominiums. The initial phase that has just been released has 36 whole-ownership Caribbean beachfront condos starting in the low $300,000s US and they are currently the most sought-after resort luxury real estate for sale in Belize. It is just a short two-hour flight from Houston or Miami to Belize where there are no restrictions on foreign ownership of property or capital gains tax. This is a project you may want to put on your list for your piece of paradise! They even just announced a fly-in package for people who want to seriously consider this as their next tropical home.

OK… so how is this for a description of what Palmetto Bay Resort has created? As you walk into your Caribbean condo you first notice a wraparound veranda overlooking the turquoise-blue Caribbean Sea. What I immediately do is dump my watch and find my bathing suit. The temperature is around 85 degrees Fahrenheit with a delightful warm breeze, and I then head to mashed-potato coral sand. Then the stress really starts because a decision needs to made: sunbathe; snorkel, SCUBA dive; drink… because thirst is a dangerous thing; read; nap; eat; schedule a jungle tour checking out how many Toucans I can spot, and many more choices to consider. Here is the fun part – I get to do it ALL! My first task is to take out the cold beer in the fridge and head to a lounge waiting for me on the beach. All the rest of the remaining choices will show up in their proper order… actually, there is no proper order. This mindset is the way I get to “Caribbean Time” as fast as possible.

Here is more good news for those you intrigued about buying luxury property in Belize. Belize has made owning real estate very simple and easy with some of the most advantageous offshore investment legislation in the world. The official language in Belize is English, and the legal system is based on English common law. Belize has no capital gains tax, no inheritance, estate or probate taxes and no restrictions on foreign ownership of property. The ease of air travel to Belize from the U.S., Canada, and the U.K. is effortless compared to many of your choices for other tropical destinations.

Finally… you will discover a country of diversity! It has a very wide variety of ethnic backgrounds that live together in a marvelous melting pot, each adding to the cultural color of the next. Belizeans are some of the friendliest people in the world. They are a cross-pollination of cultures – ancient Mayan people, Spanish, British, African roots, Mexican, Chinese, Japanese, Lebanese and Indian influences, AND the official language is still English. This is one of the special Caribbean destinations that you will want to put on your “must-see” list. Let me know if you want more information about my favorite spots. Until next time… fair winds!


Editor’s Note:
Jim Walberg is the co-Broker/Owner of The Bay Area Team, the most-successful team at Keller Williams Realty-Danville. He is also a member of the global LuxuryRealEstate.com network. Jim is an exceptional blogger, as you can see by visiting his blogs, East Bay Real Estate and Caribbean Islands Realty, and reading his great blog entries like the one above. He is the master of fractionals and other luxury homes in the Bay Area and the Caribbean, and he always has a lot of great opportunities to share. Jim always has many awesome opportunities to share. He’s a great blogger, and I always learn a lot when I read his work. I just finished writing an editorial for the winter 2009 issue of LuxuryRealEstate.com Magazine on “green” luxury homes. It was a very educational experience, and I’m glad to see these properties becoming popular as energy prices increase dramatically.

By Jim Walberg
From his blog: Los Altos - Dominican Republic’s Ultra Luxury Fractional Resort!

Casa de Campo Resort is one of best resorts in the Caribbean!

If you have read any of my past postings about what is happening in the luxury real estate opportunities in the Dominican Republic, you know I am a raving fan! The DR is not a secret anymore to the world travelers who want an amazing experience of Caribbean culture, luxury resorts, world-class golf courses, and GREAT cigars. The Dominican Republic is now known for its beautiful beaches and some of the friendliest people welcoming you to their tropical paradise.


“Los Altos” is a 116-unit ultra-luxury one, two and three bedroom villas and lofts development within Casa de Campo Resort. They even have a concierge service that takes care of EVERY detail of your Caribbean experience – from booking travel, hotels, transportation, and even grocery shopping so your kitchen is stocked when you arrive (Wouldn’t be great if they could rent out this service at our full time homes?).

Here is an example of what is included in the two-bedroom / three-bath / 2,533-square-foot lofts: swimming pool, complete furnishings, and even a garage-door opener! This limited-edition luxury property is right in the middle of the DR’s best golfing, spa and resort amenities in the Caribbean, and features some over-the-top gardens, and even an optional private pool. All of the Los Altos villas have breathtaking views of the Dye Fore golf course. I have heard from many golfers coming off the links that there is not a more beautiful sight in golf than to finish a round and watch a Caribbean sunset at the 18th hole of this course, which is actually perched at the top of the resort’s highest point! You will be blown away by this finishing hole. OK, so what is the price? How about a fractional ownership price of $200,000, to $795,000 for a full ownership! WOW! What an opportunity for a primary home or a part-time getaway!

AND, Los Altos is located right next to Altos de Chavon, a gorgeous replica of a 16^th-century Italian village, with shops, restaurants and many cultural attractions. In fact, in the village there is even a 5,000-seat open-air theater! The concert schedule they are planning is world-class! Casa de Campo Resort has already won the Travel & Leisure Magazine’s #1 “Family Friendly Resort in the Caribbean,” plus, the #1 “Golf Course in the Caribbean”! Casa de Campo Resort is one of the very special Caribbean paradises! What a place to have your “home away from home”! Los Altos’ villas and lofts are just a few of over 1,200 private villas at the 7,000-acre resort with outstanding amenities to satisfy clients with the most discerning tastes.

Owners of Los Altos villas and lofts enjoy ALL of Casa de Campo resort’s amenities and services. And, there are even MORE!

- Equestrian center!
- Tennis courts!
- Sailing facility!
- Full-service spa!
- Poolside lounges!
- Three championship golf courses: Teeth of the Dog, the Links and Dye Fore!

And even MORE! So, what are you waiting for? Contact me today for more information! The DR has become one of my Top Five favorite Caribbean destinations! Until next time… your Caribbean lifestyle detective is exhausted from the work required to bring these great opportunities to your favorite Caribbean website. OK, so I am just kidding! This “old dog” is having the time of his life!


Editor’s Note:
Jim Walberg is the co-Broker/Owner of The Bay Area Team, the most-successful team at Keller Williams Realty-Danville. He is also a member of the global LuxuryRealEstate.com network. Jim is an exceptional blogger, as you can see by visiting his blogs, East Bay Real Estate and Caribbean Islands Realty, and reading his great blog entries like the one above. He is the master of fractionals and other luxury homes in the Bay Area and the Caribbean, and he always has a lot of great opportunities to share. Don’t you love Jim’s blog entries? I sure do. They’re always so long and cheerful. Jim also has wonderful desires to serve others. By the way, there are a lot of exclamation points in this blog entry!

By Jim Walberg
From his blog: East Bay Real Estate Community Supports “Stand Down”!

2008 “Stand Down” serves 600 homeless veterans at the Alameda County Fairgrounds August 7th - 10th!

Another example as to how your real-estate community and its service providers continue to give back to the needs of the Bay Area was demonstrated on Friday, Aug. 8 at 5:30 a.m. at the Alameda County Fairgrounds. Members of the REALTORS® Marketing Association served breakfast to a “village” of war veterans.

Every two years the Diablo Valley Vietnam Veterans Association arranges for an entire “tent city” to be set up in the East Bay so homeless veterans can be served. “Stand Down” is a term used during war to describe the practice of removing combat troops from the field and take care of their basic needs in a safe place. That is exactly what has been created for 600 homeless veterans this week. The RMA contracts Ruggie’s Restaurant in San Ramon to supply ALL the food they serve.

REALTOR® Mike Weber, a member of the Diablo Valley Vietnam Veterans, is the person who continues to invite the real-estate community to be a participant in supporting this important project. They always say YES! Some of the services available for these lost, but not forgotten, veterans are:

- Medical facilities to serve their health needs – including dental, plus a follow-up care program.

- A “field court” with county judges to fast-track clearing up legal issues that may be preventing these veterans from securing employment.

- Job-placement services that also assists them in having DMV re-issued driver’s licenses.

- Assisting with identifying residential opportunities.

- A complete barber shop, new clothing, shoes and other basic clothing needs.

Members of the Diablo Valley Vietnam Veterans were inspired to create the first East Bay Stand Down in 1999 in order to provide a respite from the “streets.” In the midst of all the services provided, their commitment is to treat each of these veterans with respect and dignity. Most of us are unaware, and maybe don’t want to know, that there are about 154,000 homeless veterans on the streets of our cities on any given night. Just in our Bay Area there are over 7,000 homeless veterans! An even sadder statistic is that a BIG number of these veterans have little or no contact with Veteran Administration for either medial or financial aid. Stand Down directly addresses the issue that cannot be ignored any longer - aiding and assisting veterans in need to improve their lives, no matter how difficult it may be to do so.

The first Stand Down was held in San Diego in 1988. It has now been integrated into over 200 cities around the country with over 200,000 veterans and their families being served. A key objective is to break the cycle of the homeless epidemic within the veteran community. These are the men and women who have served our country, and we need to make sure they are not forgotten.

A quote that is appropriate for their mission is, “A community is often judged by how well it takes care of its own.” Serving the needs of those who have served to protect and create Freedom in the world is a worth activity for all of us to consider. Please contact Stand Down or Jim Walberg if you want to personally get involved, or to make financial contributions. Also, contact me any time to find out about other service opportunities for Bay Area community projects. Until next time… your East Bay real estate detective remains on duty.


Editor’s Note:
Jim Walberg is the co-Broker/Owner of The Bay Area Team, the most-successful team at Keller Williams Realty-Danville. He is also a member of the global LuxuryRealEstate.com network. Jim is an exceptional blogger, as you can see by visiting his blogs, East Bay Real Estate and Caribbean Islands Realty, and reading his great blog entries like the one above. He is the master of fractionals and other luxury homes in the Bay Area and the Caribbean, and he always has a lot of great opportunities to share. Philanthropy is awesome. We should all follow the Golden Rule as we go about our many activities in this life. Great people aren’t those who leave behind the most wealth when they die, but those who bless others’ lives and seek to lift their brothers and sisters on their shoulders. Luxury properties are what we sell, but people are who we serve.

By Jim Walberg
From his blog: Cayman Islands Fractionals Are Some Of The BEST In The World!

“The Waterford” on Grand Cayman is setting a new standard of excellence with Caribbean fractional ownership!

You know that I am not only a fan of fractional ownership in the Caribbean, it has been the hottest real estate purchase options for the past year. I have let you know about the opportunities in the Cayman Islands in the past, but what is unfolding at The Waterford on Grand Cayman continues to evolve into one of the top luxury properties in paradise. Grand Cayman is the ultra-chic island in the Caymans. It has the international shopping, high-end nightlife, along with the traditional Cayman-style homes and a rich Caribbean history. George Town is the on Grand Cayman and it is the capital of the Cayman Islands. George Town is also the fifth largest financial center in the world!
 

Grand Cayman luxury real estate is some of the most valuable and prestigious you can find in the tropics. The Waterford Private Residence Club is Grand Cayman’s newest oceanfront luxury resort at Safe Haven overlooking the islands North Sound with breathtaking views of Rum Point. The Waterford is offering purchasers of an oceanfront villa for $1,700,000 US – pre-construction! They are also offering 1/8 fractional ownerships starting at $329,000 US – re-construction! The end result will be one of the most amazing turnkey, fully furnished, luxury properties in the Caribbean!

You will not believe all the luxurious amenities that are available for you and your guests. Here are a few of them so your imagination can run wild for a moment or two:
- Use of a car during your stay – Land Rover, Mercedes, Audi or BMW
- Boat privileges - a Boston Whaler complete with your very own captain!
- Private jet services are available for booking a direct flight to Grand Cayman!
- Golf and tennis club membership!
- The Waterford Spa – a 5,000 square-foot, full-service spa and fitness center!
- Two sprawling crystal blue pools right along the sandy beachfront!
- The Waterford Cigar Room – one of my favorites!
- An unmatched 24-hour concierge, maid and valet services.
- How about a pre-arrival grocery shopping service? Your kitchen will be stocked!

Are you getting the picture? The Waterford is creating an unforgettable experience for each of their owners. From the moment you arrive until the moment you depart, you will experience the most pampered lifestyle I have ever seen, right in the heart of paradise - the Caribbean! Your staff of professionals is on call every day to make sure that ALL of your needs are met! An added feature is that The Waterford staff speaks English, Spanish, French and Italian.

With its prime location on Grand Cayman, The Waterford provides its owners the ultimate Cayman Islands real estate opportunity by combining the advantages of ownership with five-star amenities and luxury resort services. All of the residences have breathtaking oceanfront views, elegant furnishings, and luxury amenities and services beyond any of your expectations! If you have ever dreamed of owning your own luxurious vacation villa in the Caribbean then you may want to seriously consider The Waterford Private Residence Club on Grand Cayman. Contact me TODAY for the next steps to take in order to find out how easy it is to secure your spot in paradise. Until next time… your Caribbean lifestyle detective remains on duty!


Editor’s Note:
Jim Walberg is the co-Broker/Owner of The Bay Area Team, the most-successful team at Keller Williams Realty-Danville. He is also a member of the global LuxuryRealEstate.com network. Jim is an exceptional blogger, as you can see by visiting his blog, Caribbean Islands Realty and reading great blog entries like the one above. He is the master of fractionals and other luxury homes in the Caribbean, and he always has a lot of great opportunities to share. Excellent!