Now, The Bahamas is, not only the home of former number 1 doubles players in the world, Mark Knowles, but now also the home of the Bahamas Open a prestigious tournament that features the best players in the World.

This year, lots of activities are scheduled to take place especially with the first ever Bahamas Open Ball, where players get to walk the Red Carpet with the legendary stars, as well as witness the first ever Hall of Fame Induction into the Bahamas Tennis Hall of Fame.

One or those special honorees is our very own Vicky Knowles-Andrews…

Vicky is a Top Producing Estate Agent with HG Christie Ltd and is known by countless people in the Bahamas, and around the world, as the mother of our legendary tour player Mark Knowles.

Mark’s accomplishments are directly as a result of Vicky, who was the pioneer in publicity for tennis in the Bahamas, and a tennis pro for many years. Vicky groomed countless Bahamians and tourists and battled every obstacle to get the voice of tennis heard in the Bahamas. Having a passion for tennis, second to none, many times Vicky was the lone voice crying for the sport of tennis to be heard.

“We know her record and most of you know her record, so our choice to name the winner of the doubles championship of the Bahamas Open after Vicky Knowles-Andrews is something that is understood by all,” Tyrone Olander, director of the Bahamas Open, said. “No other person could claim this role and it’s one that is fitting for a champion for tennis for more than 40 years.”

Vicky – your HG Christie Family are extremely proud of your accomplishments and are honored to have you on our team!

Don’t wait, Book Now….
Enjoy this brief video from the Travel Channel Feature – Destination Tennis: Bahamas

For today, it seems that March 2012 is signalling sunny days, such as this one in the Bahamas…

Floating behind Paradise Island on a gorgeous day can surely lift your spirits – just like good news – and HG Christie Ltd. is ready to share good news and embrace Spring! Renewal and reemergence, all ‘Spring’ related terms, are reflected in positive signs and improvements being observed in the real estate market.
“The January index is the highest since April 2010…”
This is indeed welcome and good news in the Bahamas real estate market.

March is Women’s History Month and HG Christie would also like to take a moment to thank the gender that often plays a huge part in real estate. We offer gratitude and appreciation for the amazing women who have shaped our history around the globe and here at home in The Bahamas. HG Christie salutes our stellar female agents and support team members. This is an incredible group of dedicated and ‘super women’ – talented, beautiful and smart each in their own right .

The power of a woman, in all of her soft and feminine guile is undeniable. They are our leaders, our nurturers and often our decision makers in our home purchases. Indeed, many an agent has heard quips like, “Well, if momma ain’t happy; ain’t no one happy!”. The grin on the man uttering these words also hints at the wisdom contained within them .

Today, despite the fact that women head governments, run companies and comprise about half the world’s workforce, a global poll shows that one in four people, most of them young, believe a woman’s place is in the home. Whether you believe that or not, a ‘woman’s touch’ in a home is still an adage that is shared, even when they are involved from beginning to end.
“Women Build Habitat for Humanity”, certainly feature a “woman’s touch” on Habitat homes

This is an initiative where women build the homes, secure the funding and organize all of the volunteer women who come and build with them.

This March – 2012 – HG Christie Ltd. is ready and equipped to assist you via years of experience, 90 to be exact, plus a talented and knowledgeable team consisting of many stellar team members, including several savvy women! Today is the day to embrace the improving real estate market .

I have thought a sufficient measure of civilization is the influence of good women.
Ralph Waldo Emerson

Many say the world is out of balance. Everyone wants to ‘find’ time, ‘find’ peace and ‘find’ privacy.

Psssst…. guess what there is a, not-so-secret, source offering discovery of these desired and all too often elusive elements. It is a ‘secret’ that Celebrities, fortunate folks and notable achievers, such as Francis Francis (we’ll get to him in a bit), have known for decades: private islands can be a path to personal reconnection.

Private Islands are gems of the sea waiting to deliver access to YOUR personal refuge. They hold the unique potential to create YOUR uninhibited personal nirvana according to your definitions AND in the current real estate market, private island ownership is more accessible than it ever has been. > ‘Bird Cay’, presents a gorgeous oasis in the south Berry Islands of The Bahamas awaiting its new owner and ‘creator’ AND that could be YOU!

Johnny Depp, Faith Hill and Tim McGraw , Eddie Murphy, David Copperfield and other recognizable celebrities and high-net worth individuals have embraced the lure and rewards of private ownership and these ‘safe havens’ constantly make headlines.
Necker Island, Sir Richard Branson’s Island, has been touted in headlines recently. Many marveled at how the allure of private island mystique trumped the loss of the main house to a fire in the summer while hosting Kate Winslet and did not deter Branson’s daughter Holly from accessing the perfect private island wedding location just as her father did over a decade ago.

Stories of the well-heeled and their private island experiences are always headline grabbers! The England’s youngest royal couple,
‘Will and Kate’ ,as they are affectionately known, chose a private island honeymoon location as their retreat from a media greedy public.

Private Island retreats and their ownership is not a new choice for wealthy and celebrity personalities. The romantic appeal of island ownership can be traced back to other high profile jet setters decades ago. This is the case of Francis Francis, a handsome Brit and heir to the Standard Oil fortune, who decided in the early 1940’s to buy his own island situated in the south Berry Islands of The Bahamas. He named it ‘Bird Cay’.

Naming a landmass that will grace global cartography can be cited as a distinctive and heady ‘perk’ of island ownership. However, do not be fooled. At this point in time, this was not an acquisition for the ‘faint-of-heart’! These gorgeous landforms set in azure seas may provide the optimal retreat, but in the 1940s their access and ease of development was not what it is today. There were no luxury jets into international airports and no limo in the wings to whisk you away to your luxurious state-of-the-art dwelling. While an island playground born of the owner’s fantasy can be easily accessed today, such as Nygard Cay in The Bahamas, requirements in the 1940s for the owners of these retreats was not just wealth, but ingenuity, a sense of adventure and a visionary spirit. Francis Francis was truly such a person. He embodied success through athletic achievement, financial gain and courageous and philanthropic efforts.

Truly the 40’s were a time that summoned adventurers. It was a time of war and Francis Francis was responding to the call through the manufacturing and marketing of ejection seats . This progressive company still provides these lifesaving mechanisms for 93 air forces worldwide. Francis Francis can be seen in this 1937 photo with fellow founders of the Martin–Baker Aircraft Company.

A tribute to Mr. Francis’ fearlessness and pioneering spirit was his participation in being one of the early ‘live’ test subjects. This practice involved bold souls willing to endure a 16 foot test rig built in the form of a tripod, one of the legs being in the form of guide rails. A seat was propelled up the guide rails by a gun, consisting of two telescopic tubes energized by an explosive cartridge. Studies were conducted to find the limits of upward acceleration that the human body could stand. As a result of the farsighted and intrepid efforts of men like Francis Francis, over 7,300 lives have been saved by Martin-Baker ejection seats to date.

The Bahamas possess an intoxicating beauty. However, Francis’ courageous spirit could certainly be attributed to what led him to embrace the undertaking of owning and developing his own island. Indeed, his pluck was evident at an early age. Among his accomplishments were winning the Swiss Open as an Amateur in 1936 and finishing twice as the leading amateur in the British Open. Ownership of four restaurants and nightclubs in London later in life surely provided additional preparation.
During the war Francis Francis purchased ‘Bird Cay’ from his sister, Joe Carstairs (Marion B.), another spirited soul.

When the war ended he moved with his theatrically renowned bride, Patricia Francis (nee Leonard) to The Bahamas and worked to settle their private island. Initially, the brave hearted Francis and his operatic and theatrically talented wife lived on their freighter “The Mereghan”. It was anchored just off of the point of ‘Bird Cay’ until the first buildings were completed. Today, the remnants of his personal republic built from harnessing the raw materials of rock quarried from the island can still be seen on the island.

During a glamorous and glittering era of Bahamian history, ‘Bird Cay’ was where Francis chose to raise his children and entertain his friends from the likes of the Duke of Windsor to Greta Garbo
; all while practicing golf on a custom-designed driving range.

Today, ‘Bird Cay’ remains an Exotic Private Island Paradise. Now in the center of a new Marine Reserve for the Berry Islands similar to the Exuma Cays. Prices in the Land and Sea Park in Exuma have skyrocketed and the same is anticipated for the new Berry Island Reserve. ‘Bird Cay’ represents a wonderful investment opportunity as this environmental treasure gains notoriety and stature around the world.

Just as with Francis Francis, ‘Bird Cay’ presents a haven of beauty and tranquility. This 250 acre tropical island at the south end of the Berry Islands chain is just 30 minutes by air from Nassau. Naturally protected on all sides by neighboring islands and sand banks, ‘Bird Cay’ offers an excellent marina opportunity for the right investor with the adventurer’s soul. Chub Cay lies just west of this island prize and has a 5,000 foot airstrip with regular and chartered flights to Nassau that conjures visions of private resorts, exclusive clubs, and exceptional restaurants. With over 4.75 Miles of water frontage
‘Bird Cay’ offers sandy beaches, crystalline waters, spectacular ocean views, gentle prevailing breezes, numerous trails, tropical palms, casuarina trees, as well as citrus and coconut groves. The privately owned island of Whale Cay (Read a bit about “Joe”, Francis Francis’s sister, “The Queen of Whale Cay”) to the east includes an additional 4,000 foot paved runway and harbour. Proximity to the Great Bahama Bank and the Tongue of the Ocean makes this an excellent fishing, sailing, and scuba-diving paradise. Given the considerable flowing grass land, homage can be paid to Francis Francis via the creation of a few easily be constructed golf holes on the island.
Today, ‘find’ your tropical paradise and tailor it to your vision. Now is truly THE time to have a look at Bird Cay, Bahamas. (Read PIN’s article on “Why there’s Never Been a Better Time to Buy a Private Island” ) Engage your inner celebrity or your visionary and entrepreneurial spirit.

Consider all of YOUR possibilities – business retreat, family compound, or a stunning island resort. Ignoring this opportunity would ‘be for the birds’!

16 NEW WORLD AUCTION RECORDS

ROY LICHTENSTEIN’S I CAN SEE THE WHOLE ROOM!…AND THERE’S NOBODY IN IT! FETCHES $43,202,500–A WORLD AUCTION RECORD FOR THE ARTIST

Last evening’s Post-War and Contemporary Art Evening Sale at Christie’s in New York achieved $247,597,000 (£153,510,140 / €178,269,840), demonstrating the continuing appeal of this category among collectors worldwide. Thirty-three works sold above the $1 million mark and 16 new world auction records were established. In total, sell-through percentages were very strong, with 90% sold by lot and 87% by value.

“The world’s top 10 collectors were present in the saleroom tonight… (Read More)
http://www.christies.com/features/auctions/1111/post-war-contemporary/

On a cool and blustery morning, with a sizeable 2-3 foot chop on the water, a few dozen brave kayakers departed Abaco Beach Resort for a grueling 7, 12 or 20 mile kayak challenge down the coastline of the Sea of Abaco; their motivation drawn from a desire to raise much needed funds.

HG Christie proudly sponsored Rachael Aberle, wife of Abaco agent Neil Aberle.  Rachael competed admirably in the event.  Despite challenging conditions she and her teammate, Penelope Menzies, completed the seven mile challenge in a little over 2 hours.

Back at the beach, participants were welcomed by fans and supporters.  Cheers filled the air as the kayakers made their way back to shore in exhausted and triumphant paddle strokes.   Climbing ashore the sound of the beach’s soft, sandy crunch against the plastic hulls marked the end of their personal adventure.

Supporters who weren’t up for the challenge this year stayed on the beach and enjoyed the all-day party. Food, drink, music and merchandise.

One of our own ‘cheerleaders’ , Hope Town HGC agent Robbie Bethel, ended up loosing his voice as a result of his enthusiastic efforts.

Beginning at 7 in the morning the event continued throughout the day.  As the shores of the Abaco Beach Resort filled with all types of paddled craft and exuberant community support several thousands of dollars were raised.  This resounding success has spurred on the intent to hold the event annually.  HG Christie was proud to support this worthwhile cause and looks forward to next year’s opportunity to be involved once again.

Kudos to Friends of the Environment, Rachael and the Abaco Community!!

Some market areas show strong stabilization, recovery and price rises; while other areas are seeing the exact opposite. Take for instance reports from San Diego and New York are very positive, but reports from other areas of the US are not so rosy. There seems to be a similar pattern around the world and through the Caribbean. One major improvement is a significant absorption of the “condo glut” which hit areas like Miami and Las Vegas. So what is happening in the Bahamas?

The real estate market in the Bahamas is feeling a similar mixed pattern as the rest of the world. Some areas, such as those around the ‘Bahamar Resort’ in New Providence, are currently very hot – especially in the rental market. This can be attributed to a direct result of the ground breaking and ongoing development of the hotels on the Cable Beach strip. On the other end of the spectrum less developed islands, such as Long Island or Cat Island, are experiencing diminished activity from buyers. Notably, Nassau has managed to maintain a level of consistency in activity through the past tumultuous years.

In meetings and discussions with my professional colleagues at HG Christie, we have all spoken to a prevailing shift of attitude, or lack of confidence in smaller or emerging settlements, from the typical buyer as they gravitate towards more established communities.
New developments lacking a solid plan and sound financial position to complete proposed works are not attracting buyer or investor interest.

While signs of improvement emerge in small glimmers, it is still a challenging market for sellers and a exceptional time for buyers and savvy investors. Opportunities to choose and negotiate the best deal possible remain.

The following figures and facts obtained from the Bahamas MLS tell a supporting story to the previous observations:

Total number of listings on the Bahamas MLS during January 1, 2011 to March 31, 2011: 1,422
Total number of sales occurring in that period from January to March: 13

That means that should present conditions prevail it could take 27 years to sell all the listings on the MLS at the current Rate of Absorption.

However, it I would be remiss if I did not speculate the possibility that a hard hitting reality has made at least 50% of the listings on the MLS grossly overpriced and unable to turn in these, and possibly any, market conditions. So, if I take that out of the equation, we could still be looking at a 13 year supply of listings for the entire Bahamas market.

Hmmmm….. Lets break this down a bit. Let’s go by island and see which islands in the Bahamas are ‘hot’ and which are not.

For all of the following statistics the period of March 31, 2010 to March 31, 2011 was used. This time frame provided the opportunity to take into account an entire year that could emcompass seasonal ups and downs in the markets.

Nassau & Paradise Island
Listings: 343 Sales: 63
Absorption rate: 5¼ units per month or a 5+ year’s supply of listings.

Grand Bahama
Listings: 100 Sales: 3
Absorption rate: ¼ unit per month or a 400 year’s supply of listings.

Abaco
Listings: 335 Sales: 12
Absorption rate: 1 unit per month or a 27 year’s supply of listings.

Eleuthera
Listings: 73 Sales: 4
Absorption rate: 1 unit per month or a 219 year’s supply of listings.

Exuma
Listings: 103 Sales: 6
Absorption rate: ½ unit per month or a 206 year’s supply of listings.

Other Bahama Islands
Listings: 41 Sales: 2
Absorption rate: 1/6 unit per month or a 246 year’s supply of listings.

This is certainly an interesting exercise. Certainly one that makes you go “hmmm…”, and does not necessarily paint a very rosy picture, plus presenting the data in this method and does not allow for improvements to or adjustments in market conditions. Additionally, it is necessary to keep in mind that the Bahamian real estate market is maturing market. However, it does demonstrate that even amidst global challenge Nassau’s real estate market continues to chug along steadily. This bodes exceptionally well for future growth and activity as world’s economy settles.

Another market worth taking a look at is Grand Bahama. The numbers polled for the period above show that the activity in this market has been hit hard. This is possibly due to a ‘triple punch’ of imposing factors encompassing the world’s economic condition, pressures from the government and the embattlement with the heirs of the St. George estate. However, while the rate of activity in this exercise does not reflect Freeport’s historically vibrant market and notably high sales volume, there appears to be some very strong light beaming at the end of Freeport’s tunnel. The parties involved in the Port’s ownership appear to be resolving issues and a potential buyout in the works could bring renewed development and energy. Additionally, as the world economy slowly improves, it appears that the government will be providing better support in the near future. Freeport’s exceptional infrastructure make it poised for exponential growth and recovery.

After these markets, the Abaco market presents the healthiest investor confidence. In our current exercise, a 27 year supply of listings is not a good position to be in, but if you remove the percentage of the non-serious sellers, those who are ‘just fishing’, from the equation, a 13 year supply is about right for such a small island community. Indeed, a closer look reveals that a 13 year supply is very similar to the ‘pre-bust’ market levels.

Also showing exceptional potential is Eleuthera. This naturally beautiful island is in a relatively healthy position for growth. While Exuma is still in recovery mode from the boom/bust of the Emerald Bay Four Seasons marriage. Yet, Sandals is beginning to breathe life into this other phenomenally gorgeous locale.

In closing, I urge readers to remember that the numbers presented here do not include sales that occur outside of the realm of the MLS. The Multiple Listing Service of the Bahamas remains in its infancy stage and the transparency that it is bringing to the marketplace is still being absorbed by its participants.

What to take home? If you are selling, make sure you price very aggressively or not at all. If you are buying, now is your time. If you are investing, you should be picking up the phone to call me now.

The expansion of the Bimini Bay Resort will feature a RockResorts Spa, additional restaurants, a beach club and environmental and sustainability projects on the island. Once the RockResorts hotel and spa are developed and completed, the entire resort will be branded as a RockResort, according to a statement sent to Guardian Business yesterday.

Currently the existing Bimini Bay 350-room resort boasts the largest deepwater marina in The Bahamas.

Check out some listings we have in Bimini