According to realtor.org, a short sale is when a lender agrees to accept a mortgage payoff amount that is less than what is owed to facilitate a sale of the property by a financially distressed owner. The lender forgives the remaining balance of the loan.

“Short sales can be a very big hassle, but the up side is getting a property for a substantial discount,” said Pinder, who specializes in Bahamas beach rentals and Bahamas relocation. “However, the process should not be taken on alone. Buyers will need the assistance of an experienced agent who has a good track record with short sales.”

For buyers looking to purchase a second or third property, a short sale may be the perfect match, said the villa rental professional. This type of buyer typically has no move-in deadline, which is best when dealing with short sales, as the process can take anywhere from three to 12 months to close.

The other up side to purchasing a short sale is that there is typically less competition in the market, which can benefit the buyer when they make an offer. Short sale properties are sold as-is and may be in need of renovations or updates. But what the buyer saves on the initial purchase can be put back into the home to get it in move-in ready condition.

Choosing a home is usually the easiest part of the process, said Pinder. Buyers are encouraged to work with a real estate agent who knows the area and can show you homes you are interested in. It is important to have a list of home options in case the home you put an offer on is rejected or sold. This way you can move on to the next home of choice rather than spend time in limbo waiting to hear back on another offer.

The trickiest part of purchasing a short sale is financing, the home rentals expert said. After making an offer based on fair market value, buyers have to wait to hear if the bank and the seller accepted the offer. Ideally, the buyer can provide a large down payment in cash or other investments, but if that is not available, being pre-approved by a lender will greatly help.  Buyers should expect higher interest rates than they would get if this were their primary home. Historically, banks have been known to accept cash offers or pre-approved buyers immediately.

If the buyer is eventually going to live in the home permanently, taking out a second mortgage is an option. Once they have sold their primary home they can use the proceeds from the sale to pay down the second mortgage.
If the buyer plans to purchase the home to use as a rental property, they need to figure in the cost that goes along with that, said Pinder. In addition to mortgage payments and taxes, buyers also need to think about renovation expenses as well as marketing costs and maintenance fees.

“It is important for buyers entering the short sale process to understand that no two short sales are created equal,” said the condo rental expert. “You have to have an open mind and no deadline to close, otherwise you will grow increasingly frustrated. Having the guidance of a local real estate agent can be very beneficial to you, as they can navigate you through the process from putting in an offer to closing on the home.”

© 2012 Master Google and Island Living Real Estate. Authorization to post is granted, with the stipulation that Master Google, which offers a ranking report service, is credited as the sole source. Linking to other sites from this press release is strictly prohibited, with the exception of herein imbedded links.

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“As soon as they return home, they start planning their next trip and can only dream about living here someday,” said Pinder. “The fortunate ones, or the people close to retirement, start thinking about how they can own a piece of paradise. But for others it’s just a dream, at least they think it is.”

Buying a home in another country isn’t out of reach for people who understand the process, said the condo rentals expert.

It is no small task to buy a home or even a vacation home in the Bahamas, so Pinder recommends enlisting the help of a local real estate broker, as they understand the dynamics of the market and will be able to quickly and efficiently find real estate that matches your vision.

There are limited restrictions on foreigners buying property. Since the International Persons Landholding Act took effect in Jan. 1994, it has been much easier for foreigners to purchase property on the island.

“There are certain restrictions in this act that can be tricky for people, but local agents know the ins and outs and can guide you through them,” said Pinder. “The Bahamas is a politically stable country that is in relative proximity to many countries, which is why so many people are interested in purchasing real estate here.”

The first step is deciding on the location of the property. In addition to Nassau/Paradise Island and Grand Bahama Island, there are 698 other islands that make up the Bahamas.

“We call the other islands the Out Islands because they are secluded – nature outnumbers man-but some of the world’s most amazing beaches, dive sites, and fishing sites are located there,” said the Bahamas rental houses and villa rental professional. “The island you choose really depends on the type of property you are purchasing.”

If you are planning on the property to be a Bahama rental where you rent it out part-time,

being close to transportation lines, hospitals, shopping centers, etc. is more appealing to prospective renters. Your agent can inform you about the historical rental prices and vacancy ratios so that you can ensure you are getting the most out of your investment.

The Islands of The Bahamas offer the best living and working conditions in the world. A modern infrastructure combined with public and private schools, which makes them ideal for people looking to move here permanently with their family. Real estate agents can tell you which island is the most family-friendly, which would be best for a couple looking to retire and which would be best for people who are not interested in renting the property to others, said Pinder.

Once buyers have decided on a location and a property, the next step is to purchase the property. This is where local agents can be very beneficial to buyers, as they understand the process, which can save them a lot of time and money.

“If you have dreams of spending time or moving to the Bahamas, don’t let anything hold you back from making them a reality,” said Pinder.

© 2011 Master Google and Island Living Real Estate. Authorization to post is granted, with the stipulation that Master Google, an SEO submission services company, is credited as the sole source. Linking to other sites from this press release is strictly prohibited, with the exception of herein imbedded links.

Now imagine owning a little piece of this magical place. It’s possible, says Rachel Pinder, principle broker at Island Living Real Estate, because this place is the Bahamas.

“If you are thinking about buying a second home, you are not alone,” said Pinder, who specializes in Bahamas rentals and real estate for sale. “The main reason for second home ownership and even seasonal migration, is physical comfort – escape from winter’s cold and summer’s heat. And the Bahamas is the perfect place for that. In terms of second homes, the Bahamas offers unparalleled accessibility and luxury than many neighboring islands.”

According to Pinder, there are three common reasons for people wanting to purchase a second home.

The first is for a family vacation destination, whereby families visit during school breaks and create new memories outside of their permanent residence.

The second is for a future retirement home where they rent the home out part-time and enjoy it themselves the rest of the year with plans to move to the home permanently after they retire.

The last reason is purely for real estate investment purposes. They put the house up for rent to not only cover costs, but also generate a profit.

“It really doesn’t matter why you buy a home in the Bahamas because you will be making an investment in a market that took the recession as a time to rebuild its infrastructure,” said the condo rental expert. “And if you are looking to list your home as a Bahamas house rental while you are away, most neighborhoods double as property management companies that can handle the entire process from marketing to reservations.”

© 2011 Master Google and Island Living Real Estate. Authorization to post is granted, with the stipulation that Master Google, a company that offers paid directory submissions, is credited as the sole source. Linking to other sites from this press release is strictly prohibited, with the exception of herein imbedded links.

Rachel Pinder, principle broker at Island Living Real Estate, a Nassau rental and real estate agency specializing in Bahamas home rental opportunities, says when you are thinking about buying an investment property, you need to ask yourself the following: do you have the time, energy and resources to accomplish this yourself?.

“If you found yourself answering no to any of those questions, you should to turn to a local agent in the area you are looking to buy,” Pinder says. “A local agent can make the whole process of purchasing a villa rental in the Bahamas more manageable with the knowledge, experience and contacts you need for your investment.”

The Buying Process
The process of buying an investment property usually starts with determining your buying power. First, you need to be clear on what you want to get out of your investment.

• Are you looking for something short-term or long-term?
• Are you going to live in the home full-time or are you going to rent it out?
• Are you going to be the landlord or are you going to hire a property management company?
• Are you looking for  apartments, condos or  villas? Bahamas rental opportunities provide a variety of options.

Once you have developed your investment strategy, give your real estate agent some basic information about your available savings, income and debt and they will find you a lender that is best qualified to help you.

Market
Real estate agents are experts on the local market and can show you only those properties that truly suit your needs and preferences. Real estate agents also research the areas you are interested in to find out if it is in an upward or downward trend. They also can  evaluate job growth and tourism so you can determine the likelihood of keeping your property rented.

Properties
Real estate agents have access to various sources of information to give you an objective overview about each property. A local agent has first-hand knowledge about the community such as schools, utilities and zoning.

Once you are pre-qualified by your lender and know the price range you would like to stay in, your agent will begin to sort through properties listed in the area and select ones that best meet your needs. Together, you will begin touring the homes and deciding what you like and do not like.

Making an Offer
While most agents prefer not to name a price for you, you can utilize their expertise to figure out a price to offer.

If you are looking to buy a home in a buyer’s market, you will have less competition for the home. Sellers will likely be more receptive to any offer because there are fewer buyers. However, if you are buying in a seller’s market, sellers may not consider any offer that is less than the listed price.

Your agent can look up comparable sales and use  only the properties that are similar in configuration, age and location to the home you are looking at. Your agent can also pull a trend report to look up the prices homes were listed at compared to the prices at which they sold. Depending on the market, your real estate agent can find out what the sellers paid for the house so that you can make the best offer.

When it comes to negotiating factors including financing terms, date of possession and the inclusion or exclusion of repairs, your real estate agent can advise you to which investigations and inspections are recommended or required.
“Our agents are qualified to handle the trickiest part of the buying process,” Pinder says.

Closing
Every country handles its closing process differently. Your local agent can guide you through this process and make sure everything goes smoothly.

“Real estate transactions are one of the biggest financial investments you will experience in your life,” says Pinder. “It would be a crazy to try and deal in real estate without the professional assistance of a local real estate agent, especially if you are not familiar with the area in which you are looking to buy.”

© 2011 Master Google and Island Living Real Estate. Authorization to post is granted, with the stipulation that Master Google, one of the top search engine optimization firms, is credited as the sole source. Linking to other sites from this press release is strictly prohibited, with the exception of herein imbedded links.

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“It’s no surprise to me that The Bahamas was rated among the top five islands for families,” said Rachel Pinder, principle broker of Island Living, an agency specializing in Bahamas homes for sale. “Residents of The Bahamas can enjoy all the benefits of city life, yet still be just a short distance away from seclusion on the outer islands.”

The islands of The Bahamas offer some of the best living and working conditions in the world. Modern infrastructure combined with an excellent climate, public and private schools, and a high standard of living add up to an unparalleled “vacation” lifestyle on these sub-tropical islands.

As a business location, The Bahamas offer proximity to the world’s largest markets, combined with effective air and sea transport, modern amenities and freedom from taxes and duties.

For housing, there is a huge selection of properties – everything from low-income starter homes on Grand Bahama Islands and Nassau apartments for rent, to million-dollar beachside villas and canal side properties.

“I encourage anyone considering relocating to The Bahamas to experience as many islands as they can before they decide to make the move,” adds Pinder. “Speaking with residents and getting acquainted with a town and its history will help you decide what island best suits your needs.”

Visit First: Top Place for Rentals, Bahamas Style

Known as the family islands, the Abaco Islands stretch for more than 130 miles through the northernmost Bahamas and are recognized as one of the world’s top boating and sailing destinations in the world. Its mile-long chain of islands basically makes the Abacos a mini-Bahamas complete with its own outer islands. Most visitors find the colonial towns to be quite charming, but the real selling point of this island is its abundance of schools. The Abaco Islands offer more than 14 primary and secondary schools, the most to be found on one island in The Bahamas.

Eleuthera Bahamas rentals give potential residents a feel for what freedom – the Greek translation for Eleuthera – really means. The island is free from crowds, cruise ships and casinos. Residents move at a slower pace than many are accustomed to and no matter how long you live on the island, you will never cease to be amazed when you visit the pink and white sand beaches on Harbor Island, Pinder says. Historical landmarks, or history lessons, are at every turn.

Considered to be the best planned city in the Caribbean, Grand Bahama Island blends business, residential and recreational amenities found in most large cities, without the stress. Grand Bahama Island boasts vibrant cultural history, excellent hospitals, deserted white sand beaches, night-time entertainment and world-class land and sea sports.

The Island of The Bahamas has more than 700 islands and 200 cays for you to visit and each one paradise in their own respects. The many people who have traveled to The Bahamas on business or vacation and then returned to take up permanent or seasonal residence know just this.

© 2011 Master Google and Island Living Real Estate. Authorization to post is granted, with the stipulation that Master Google, a company that posts articles on top web- based pr distribution sites, is credited as the sole source. Linking to other sites from this press release is strictly prohibited, with the exception of herein imbedded links.

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Gina Knowles joined the team September 2008 to manage Island Living’s listings, and now she wants to venture into the real estate business, says Rachel Pinder, principle broker of the Nassau rentals and real estate agency.

Knowles’ new title is listing agent.
“Gina is honest, cooperative, open-minded and perseveres in what she undertakes,” says Pinder, who also is villa rental specialist. “After working in this field for the past three years, she felt it would benefit the company if she had a license. I have to agree.”
It also was a great opportunity to challenge herself to do something new.
“I’m excited about meeting new people and providing information that will benefit our sellers to ensure that I sell their property at the best listing price in the least amount of time,” Knowles says.

Knowles was born and raised in Nassau, where she continues to live today. She is married and has two sons. Her interests include boating, reading, swimming and traveling.

In addition to helping sellers and buyers who are interested in a Nassau relocation or are interested in moving to other islands in the Bahamas, Island Living also can help people find Bahamas rental homes to meet their short-term living needs, Pinder says.

© 2011 Master Google and Island Living Real Estate. Authorization to post is granted, with the stipulation that Master Google, which can give you a crash course in SEO 101, is credited as sole source. Linking to other sites from this press release is strictly prohibited, with the exception of herein imbedded links.

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“We’re learning more and more about the viability of solar energy to power homes,” says Rachel Pinder, principle broker of Island Living Real Estate, an agency that specializes in Bahamas rental houses and real estate listings. “Even for people who own Bahama rentals, solar energy might be worth considering.”
Electricity costs are affected by international crude oil prices and as they skyrocket, renewal energy experts continue to urge users to “go green” and put the sun or wind to work for them, according to reearth.com, a blog that addresses environmental issues in the Bahamas.

There are a couple of solar systems available for use in homes that you might consider- solar photovoltaic and solar thermal water heaters, said Mark Lambrides, division chief for energy and climate change at the Organization of the American States in a Nassau Guardian interview. Solar thermal water heaters use the sun’s heat to warm your water for use in washing laundry, taking showers and other hot water needs.

Solar photovoltaic systems are hooked into the electricity grid. They collect the sun’s energy to make electricity when it is shining. If your home is on one of these systems, it typically taps into electricity from the grid during evening hours.

“If you own a Bahamas rental villa, having solar hot water systems or photovoltaic systems has the potential to save you money in the long run by resulting in lower energy bills,” Pinder said. “There may be slightly higher costs up front to install the systems, but it has been our experience that many Bahamas house rental owners keep their properties for the long haul to maximize their profits. So if it takes a few years for the system to pay for itself, many investors don’t mind.”

The longer you own your home or villa, Bahamas real estate broker Pinder says, the better the chances of recouping those costs that you incurred from installing your solar system.

Financial incentives for going solar also appear in other forms. For example, Minister of the Environment Earl Deveaux said the Bahamian government rolled out tax concession incentives to entice homeowners to use more energy saving devices.

“We have had clients looking to purchase homes in the Bahamas who specifically sought out properties with solar systems,” Pinder said. “People are becoming more environmentally savvy and want to find ways to do their part, so to speak.”

© 2011 Sinai Marketing and Island Living Real Estate. Authorization to post is granted, with the stipulation that Sinai Marketing is credited as sole source. Linking to other sites from this SEOs press release is strictly prohibited, with the exception of herein imbedded links.

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They are:

1.    Use an Agency
Particularly if you live outside the Bahamas, hiring an agency to oversee the rental process can help make sure your Bahamas rental homes are rented without a great deal of effort on your part, says Rachel Pinder, principle broker of Island Living Real Estate, an agency that specializes in Nassau homes for rent and real estate listings.

An agent is responsible for handling all of the management aspects of rental properties, from marketing and advertising to maintenance and screening applicants, Pinder says.

2.    Focus on the Client
Focusing on the client means providing a great service and a pleasurable experience to those who rent your property.

“The better you treat the people who rent your home, the more likely they are to refer your property to family and friends,” villas Bahamas expert says. “We have property owners who make arrangements for us to place gift baskets and island information in the homes prior to a new person or family coming in.”

People remember these kinds of touches.

3.    Add Value
Adding value sort of goes hand-in-hand with focusing on the client. Let’s face it- there are lots of rentals available in the Bahamas, so what can you offer to clients that will make your rental rise above the rest?

“We’re not talking about spending a lot of money to add value,” Pinder says.

Sometimes it’s the little amenities that mean a lot. Everyone wants to have Internet access these days, so installing a wireless router could be a real plus to would-be renters. Having a docking station to charge an iPhone and play an iPod is another great idea.

Accumulating a collection of books, DVDs and board games is another good idea.

4.    Create a Marketing Plan
This is an area in which we work closely with our clients. There is a variety of outlets where Bahamas beach rentals are effectively marketed, and it’s a good idea to have a plan before embarking upon a marketing campaign.

“Because of our experience with representing owners of Bahamas villa rentals, we ask to work with our property owners to set a marketing budget,” Pinder says. “Based upon that budget, we offer recommendations on where to market the properties to best ensure a successful rental history.”

5.    Market your Listing with Quality Photos
This is another area where an agency that represents and markets rental properties can help. Because many people search online for rental properties these days, it is imperative that each of your photos truly paints an accurate picture of your property.

Photos that are poorly lit, out of focus and those that aren’t zoomed in to show details will not help market a property. Be sure to include pictures of every room in the rental if possible, as well as a photo of the exterior. Does your property have a great view of the water? Include that, too.

If you are unable to provide photos of your property, we can take photos for you, grand Bahama rentals expert says.

© 2011 Master Google (SEO company USA) and Island Living Real Estate. Authorization to post is granted, with the stipulation that Master Google, provider of simple SEO solutions, is credited as sole source. Linking to other sites from this press release is strictly prohibited, with the exception of herein imbedded links.

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After you put your listing in the hands of the right Nassau Realtor, you still have some say-so in how the listing is handled, which means there are some steps you can take to avoid mistakes along the way. That is why we’ve compiled this list of five common mistakes to avoid when you have Bahamas real estate for sale.

1- Choosing the wrong agent.
Seek out an agent who knows your area and demonstrates that he or she has a level of expertise with which you feel comfortable.

“Your real estate agent is someone you’re going to have to communicate with on a fairly frequent basis,” says Rachel Pinder, principle broker of Island Living, an agency that specializes in Nassau and Abaco, Bahamas real estate, as well as listings throughout the islands. “Make sure that your communication styles compliment each other, because breakdowns in communication potentially can lead to quite an unpleasant listing and sales process.”

2- Only considering home sales in your area.
Of course, you want to consider what homes in your area have sold for in recent months, Pinder says. But don’t exclude homes in other areas that are on the market.

“Essentially, you are competing with these other homes for buyers,” she says. “You need to take them into consideration.”
Look at your home constructively and ask yourself how it compares to others for sale in your neighborhood and in your city.

3- Ignoring the power of the Internet.
The world is on the Internet these days, and information about your home listing should be, too. It is common for people to begin their house-hunting expedition online. When they find your listing, make sure it is packed with photos.
“It’s cliche, but a picture truly does paint a thousand words,” Pinder says.

Post photos of your home’s interior and exterior. Do you have incredible landscaping? Show that off. Is your family room particularly inviting? People will want to see that.

4- Skimping on marketing.
If you want to get your home sold quickly, it is vital that a marketing plan be created.

“These days, it’s increasingly easier to market homes because there are so many social media outlets at the disposal of not just Realtors, but homeowners as well,” Pinder says.

Ask your Realtor what specific marketing tools they will use to list your home. Real estate marketing sites abound. A growing number of agents markets their listings on social media sites including Twitter, Facebook and even LinkedIn.

You can even use your own social media networks to spread the word that your home is for sale. Word of mouth is a powerful tool.

5- Following potential buyers around when showing your home.
It’s like being swooped down on as soon as you drive onto a car lot- people don’t like to feel crowded, pressured or spied on by the homeowner when they look at a home.

“We advise our clients not to be home during a showing,” she says. “Buyers feel nervous about thoroughly inspecting a home when the owners are there.”

Avoiding these five mistakes can help you get closer to your goal of a quick home sale.

© 2011 Sinai Marketing and Island Living Real Estate. Authorization to post is granted, with the stipulation that Sinai Marketing is credited as sole source. Linking to other sites from this SEOs press release is strictly prohibited, with the exception of herein imbedded links.

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Our Bahamas real estate agency has offered this valuable service for more than 15 years, said Rachel Pinder, principle broker of Island Living, an agency that specializes in Nassau, Bahamas real estate, as well as other listings throughout the islands.“We are routinely provide free price quotes for property owners interested in the services,” Pinder said, adding that our agency provides free inspections, pool care, yard maintenance, utility bill payments, general and preventative maintenance, repair services and rent collection.

Hiring a professional to manage your Nassau Bahamas rentals is a wise choice for a variety of reasons, Pinder said.

Knowledge and Experience
Our property managers have extensive knowledge of real estate law and know how to address the legal details associated with being a landlord.

Successful Rent Collection
The goal of renting your Nassau properties is to generate an income. Doing that requires well-defined guidelines and follow-through if rents are not paid on time. Property management professionals typically serve as a cushion between property owners and tenants.

“It often is preferable to a property owner that they not have to call tenants when the rent is late or endure the process of evicting a tenant if things don’t work out,” said Pinder, a Bahamas realty expert. “A property manager can handle those potentially unpleasant experiences for you.”

Good property managers also tend to have detailed leases in place and clearly defined requirements regarding rent payment, along with consequences for not complying with the lease agreement.

Property Value is Maintained
Preventative maintenance goes a long way toward maintaining and increasing a property’s value through the years. Keeping values high on Nassau Bahamas rentals is achieved through implementing systems that identify and correct maintenance and repair issues immediately, which can keep them from becoming larger, perhaps more costly problems to correct.

Keeping Properties Rented
“One of the most valuable services a property manager can offer you as a rental property owner is keeping those rentals occupied with quality tenants,” said Pinder, whose agency also lists Bahamas condos for sale.

That is accomplished in part by evaluating the your properties occasionally and pointing out cosmetic items that you can improve to help you maximize your property’s income potential.

We also can help you establish a monthly rental rate. Pricing your rent too high can result in long periods of time between tenants, while underpricing it can mean that you lose money each month on your investment.

Another tool at our disposal is marketing outlets and knowledge on how best to market your property.

Handling Multiple Properties
Because of our experience, often it is easier for us as property managers to oversee multiple properties than for you to do so yourself.

“The more properties you own, the busier they can keep you,” Pinder said. “Management companies are perhaps even more valuable in situations where multiple properties need to be overseen, because they can seek more competitive pricing on routine maintenance costs.”

© 2011 Search engine advertising company Sinai Marketing and Island Living Real Estate. Authorization to post is granted, with the stipulation that Sinai Marketing is credited as sole source. Linking to other sites from this press release is strictly prohibited, with the exception of herein imbedded links.