Like it or not, The Bahamas has become a part of the world real estate market. Many of our buyers have over-leveraged themselves and need to sell - unfortunately there are not many adventurous buyers out there due to the global economic problems. Properties that were once hot are now perched precariously on a high-price pedestal and people are not buying until they feel they are getting a reasonable price for their purchase.

Around the Easter and Spring Break holidays, an historically busy time for Bahamian real estate, we witnessed a great deal of interest with many people on vacation here and assessing our real estate market. In the weeks following Easter, we have noticed a drop in interest as people return home from vacations in the Bahamas.

Certainly, sales around The Bahamas are by no means dead. Contracts are still being drawn up and buyers are booked to come to our shores intent on finding a second home - there are just not as many of them.

It is our hope that the coming months will hold an upswing in real estate sales as Britain's Government released their latest budget report this past week, and revealed some negative points that we feel will drive more British to the Bahamas or will, at least, lead them to invest in property in our country.

The Bahamas Multiple Listing Service (MLS) has become an indispensible tool for the Bahamian real estate industry in the past year. For those who are unfamiliar with the MLS, it is an online database which allows members to list and share information on properties with brokers, agents, and buyers throughout the country. This maximizes exposure and increases the chance of a quick sell at the desired price.

We, here at HGChristie, recognize the value of this system and have been on the forefront of implementation of the MLS. As a result of this, we are currently the leader in number of listings on the MLS database.  Our agents are actively involved and can speak to the details and benefits of signing an exclusive listing agreement and gaining the incredible exposure for a property that only the MLS can provide.

The new Bahamas MLS has been functioning well and over the past year it has been gaining momentum with members now participating even from the remote islands in the Bahamas. The number of listings available on the MLS has been rising steadily, and by this time next year, it will contain a wealth of information on the real estate market in the Bahamas. Once a significant number of MLS listed properties have been sold, it will provide historical information and make it possible to extract data on market trends. This will make our Comparative Market Analyses (CMAs) which we provide to sellers of homes in the Bahamas, even more accurate, and useful to you - our clients.

Our HGChristie agents were pleased to have the opportunity to visit Schooner Bay, Abaco, an upscale planned community inspired by the architectural and cultural history of The Bahamas. This new community will be centred around a walkable car-less village, small harbour, beaches and natural landscape.

Agent Elbert Thompson, of Nassau, said, "this concept takes visitors and residents back in time....The advantage is the modern conveniences and adherence to minimizing the carbon footprint to allow for clean, green living in a picturesque setting."

One of our Abaco agents, Dwayne Wallas said, "the project has a great concept, and will be a wonderful place to live and visit once it is established....Their focus on activities such as the yacht club, equestrian centre and horticultural pursuits, combined with the 'low environmental impact' designs speak to the type of development that has been missing from the Bahamas' real estate landscape over the past decades....It will be a fantastic complement to South Abaco's community and is sure to boost property values of the surrounding areas."

The 0.5 acre lots are walking distance to the village area and sit on a well-protected, 3 mile beach. Prices start at $1,830,000. (Ref. AS11136)

• 2nd Annual Bahamas Real Estate Expo
  • Where: The Wyndham Nassau Crystal Palace Resort & Casino, Cable Beach
  • When: Saturday May 2nd, 2009 from 10:00am-6:00pm
    Sunday May 3rd, 2009 from 11:00am-6:00pm
  • Admission: $5.00 (Part Proceeds To: The Ranfurly Home for Children)
  • More Info: www.bahamasrealestateexpo.com
• HGChristie Presentations at the Bahamas Real Estate Expo:
  • The Balmoral - So Many Appealing Reasons Why Coming Home Will Be A Pleasure
    • Saturday May 2nd, 2009 from 10:00-10:45 am
  • STAR Island, Eleuthera - The First Totally Green Development In The World
    • Saturday May 2nd, 2009 from 1:00-1:45 pm
  • The Crossing, Abaco - Providing An Answer To The Next Metropolitan Boom
    • Saturday May 2nd, 2009 from 4:00-4:45 pm