Bahamas Real Estate Market Shifts

Posted by Yael Walcott on Tuesday, October 31st, 2017 at 10:44am.

bahamas real estate market shift

"Beauty is that which attracts your soul…you feel that the hands deep within your inner self are stretched forth to bring her into the domain of your heart."

Kahlil Gibran

Just as in our personal relationships, I think it is fair to say that we also feel an attraction when we have found the house of our dreams - it is soul deep. It just clicks and there is a love that some will never understand and others see immediately.

Do you as the buyer or seller know what that beauty is in today’s market?

In real estate when we see trends towards a particular neigbourhood, district or style of home, could we say that most of us now have the same heart? We share the same desires? The inexplicable, we want what we want, when we want it, the reasons are immaterial.  

Step back for a moment and remember that there was a time when we saw great beauty in the stand alone home, where it wasn’t identical to your neighbours, in that quiet neighbourhood, near the beach, where there were no gates or 24-hours security but you felt safe and the only fees you paid were to the government. You were willing to pay top dollar for that.

Put It All In Perspective

Today, the top dollar is leaning in another direction: gates, security, having someone else maintain the space and I don’t mind if my neighbour’s house is similar to mine. Oh and by the way, I am on the beach and my views are spectacular.

Thus I implore that both buyers and sellers, do your homework before you meet with an agent. Have a fair to good idea of where the market is, what is it that the most hearts desire at the time. The right price for the seller and buyer will emerge from this information.

Don’t panic! If you don’t know, a good REALTOR® should and will advise you of the trends. But the potential stress and anxiety involved in buying or selling a home will diminish significantly because the process should not take years or months, but rather weeks.

Sellers remember the goal is sell your home in the shortest space of time for the best market price and buyers your goal is to find the best home your budget will allow in the shortest space of time. When these two goals are in synchronicity, the outcome is a big WIN for both parties.

Need a hand navigating the Bahamas real estate market? We encourage you to contact ERA Dupuch Real Estate online or call (242) 393 1811 to get in touch with a qualified, local real estate professional.

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