Realtor: Michael Joseph
Michael Joseph, a Sales Associate at RE/MAX Cayman Islands since 2003, shares his insight into the Cayman Islands' evolving real estate market.
- CIREBA Agent of the Year 2011
- RE/MAX Chairman's Club Member 2009 -2011
- RE/MAX Lifetime Achievement Member 2011
- RE/MAX Ranked #2 Regionally 2010
- RE/MAX Ranked #11 Internationally 2010
- RE/MAX Platinum Club Member 2004 to 2008
- RE/MAX Hall of Fame Member 2007
- 2007 YCLA Finalist
- 1996 Olympian - Cayman Islands
- Languages: French, Spanish and English
What makes living in the Cayman Islands unique?
Many resort locations in the developed world can offer different qualities, but very few, if any, can offer such a large variety. Cayman possesses: first-class amenities; restaurants; medical and academic facilities; good weather; a relatively low crime rate; political stability; a close knit community spirit; non-polluted environment; crystal clear waters; and is a world-class financial and legal destination. Cayman continually welcomes the opportunity to learn from other jurisdictions what does and does not work.
What is your number one tip for buyers?
Be thorough in your due diligence. Use an agent who can help provide the knowledge and answers to questions that you should be asking. The investment should meet your current and future lifestyle requirements, allowing you to grow with the property. The most important question though is, does it have future rent-ability and or sell-ability?
What is your key piece of advice for sellers?
Property maintenance is key. It is a buyer’s market which means sellers need to re-invest in their property with simple re-grouting, re-painting, re-sealing, refreshing and modernising. You can do this on various levels: changing carpets to hardwood floors; painting the interior or exterior of the home; adding hurricane shutters; updating the appliances; improving the home’s insulation; or doing some basic landscaping. You do not necessarily have to spend much, but consider the return on your investment. Basically any and all efforts in maintaining your property will help improve the value, and will, above all, assist in the sale when facing the competition.
Describe your perfect Caribbean weekend?
For me there is simply no other way to spend a weekend in Cayman than with my family and friends. We go fishing, snorkelling, boating and finish off by grilling our fresh catch on the beach. That said, Cayman has a plethora of activities whether sports related, educational or cultural that one can take advatage of. If barefoot beach combing, hammock snoozing or moonlight reading is more your speed, then Cayman is the place for you to call home.
Cayman Islands Real Estate Overview
The Cayman Islands real estate market, like any, has numerous sectors, and each of these reacts to the ‘ebb and flow’ of local and international movements (that is my disclaimer!). A few of these sectors have shown positive signs of growth, such as: a return of market confidence (albeit a cautious one); increasing numbers with regard to sale volume; increasing number of transactions; improving sales prices and; higher end properties are regaining attention from buyers. This returning confidence can also be seen in newer developments, where property investors and home buyers are demanding a higher quality product – meaning the developer has had to raise the bar in order to sell. Internationally, we have performed tremendously well compared to similar markets. This is a testament to Cayman as a whole, which, despite certain ‘teething’ problems, is still the best place on earth to live.
Some of Michaels Cayman Favourites
VISTA DEL MAR, OCEAN FRONT LAND
Ocean & canal front land in this luxurious gated and serviced community with several marinas, numerous amenities and luxuries. Truly a class of its own.
STARTING AT US$533,000 - MLS 114617
SEAVIEW, OCEAN FRONT CONDO
Modern oceanfront 2b/2.5b w/ panoramic views of the Harbour from what is undoubtedly the BEST unit. Offering the finest in finishings inside & out!
US$1,380,000 - MLS 113948
SPINNAKERS, NEW COMMUNITY
Wonderful new community with 3 or 4 bed + den semi-detached homes on one lot. Each home has a private balcony, patio, pool and garage.
FROM CI$495,000 - MLS 103124/20/26
CYPRESS POINT, CANAL FRONT HOME
Beautiful 4b/4b home in the heart of the Seven Mile Beach corridor. Gated and tranquil community. The perfect family home environment.
US$1,195,000 - MLS 090766
For more details contact Michael Joseph
Call: 345.949.6170 or 345.926.6784
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