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St Maarten Property Appraisals Guide 2021

St Maarten Property Appraisals

If you’re a buyer looking to buy a property in St Maarten or a seller who owns already owns a property in St Maarten, both parties will require the services of an Appraiser.
Appraisals are a crucial part of a Property Purchase transaction.
The buyer requires an appraisal to validate the seller’s valuation of the St Maarten property.
Seller requires an appraisal to exhibit the valuation of the St Maarten property to prospective buyers.

Valuation Expert:

Call Chante on +1721 526 3194 to discuss your availability and book an appointment with a Valuation Expert.
We are also available on WhatsApp for your convenience.

St Maarten Property

Do I need an Appraisal to sell my St Maarten property?

As a realtor, I can not stress to you how important this is to build that bond between buyer and seller.
For first-time St Maarten property buyers, it gives them confidence that the seller is willing to be transparent. Its starts of everything in the right way.
We can arrange a professional St Maarten Appraisal for you.
It’s not something we specifically do, but yes, I would be happy to help.
Call Chante on +1721 526 3194.

Inexperience can be a high cost to you.

What is a Property Appraisal?

Simply put, a property appraisal is a neutral and professional opinion of a particular property’s worth. It is a universal prerequisite in real estate purchase-and-sell transactions and mortgage refinancing. A certified or licensed professional will conduct the appraisal and is the most key player in the property transaction.

St Maarten Appraisal

When do I need a Property Appraisal?

In addition to being an indispensable part of a real estate property transaction, a St Maarten property appraisal is a requirement in the following transactions:

  • Loan applications
  • Be at an advantage when purchasing real estate; by basing your purchase price offer on the valuation outlined in the St Maarten Appraisal.
  • Helps determine a fair price when selling property
  • Settling an estate
  • Legal proceedings

What Is The Cost Of An Appraisal In St Maarten

It varies from St Maarten Appraiser to Appraiser.
A basic St Maarten Appraisal will cost anything from $450 to $1200 depending on the contents and depth of investigation. All our St Maarten Apprsials prices start from $725 for a detailed property valuation.. Backed with 25 years of REAL estate experience.
And don’t worry if you need a structural report, electrical report, water rights issue, we know experts in each industry to have an answer ready in a few days.
For example, if the electrical systems and equipment need to be evaluated and inspected, this can be included for an additional charge.

Just recently in March 2021, one of my property buyers, a family from Chicago, USA who were within hours from signing the purchase of a Terres Basses property, were lucky enough to have got an Electrical report which identified major electric issues in the property which no one would have otherwise known. Even the owners didn’t know. Note: Electrical issue now resolved!

Call Chante on +1721 526 3194.

What does a St Maarten Appraisal contain?

Don’t expect all Appraisals to be the same.

If the Appraisal is for St Maarten property valuation, the content is focused on determining a price for the property by comparing past sales in the neighbourhood and also similar property types in distant neighborhoods. It will be further detailed out as Fair Market Value, Auction Value, and Reproduction Cost New. between all and includes a summary of everything else. For more detailed specifics please always pay a little extra and request this. It could save you thousands of $$$s.

The Valuation Methodology below is an exact copy from an Appraisal in the open domain.

Valuation Methodolgy

Definition of Market Value

“The estimated amount for which a property should exchange on the date of valuation between a willing buyer and a willing seller in an arms-length transaction after proper marketing wherein the parties had each acted knowledgeably, prudently and without compulsion” (RICS Valuation Standards V.S3.2).
NOTE: Market Value ignores any existing mortgage, debenture, or other charges over the property. There are basically three approaches to the valuation of real estate property.

  1. Cost Approach: The Cost Approach is based on the principle of substitution which asserts that no prudent buyer or investor will pay more for a property than that amount for which the site could be acquired and which improvements have equal desirability and utility can be constructed without undue delay. It is a method of appraising property based on the depreciated reproduction or replacement cost (new) of improvements, plus the market value of the site.
  2. Income Approach: Income Capitalization is a valuation method appraisers and real estate investors use to estimate the value of the income-producing real estate. It is based upon the premise of anticipation i.e., the expectation of future benefits. This method of valuation relates value to two things: [1] the “market rent” that a property can be expected to earn and, [2] the “reversion” (resale) when a property is sold.
  3. Direct Comparable Approach: The Sales Comparison Approach derives a value indication by comparing the subject being appraised to similar properties that have sold recently. For residential properties, the Cost Approach and Direct Comparable Approach may take preference. For commercial properties, the Income Approach and Direct Comparable Approach may apply.

St Maarten Appraisal

St Maarten Appraisal services are normally ordered by the lender in the residential property market. St Maarten Appraisers are also brought into the picture in litigation cases, investment decisions, and tax matters.

Licensed appraisers in St Maarten adhere to a strict code of ethics and are obligated to provide valuation reports that conform to Dutch lender requirements and applicable taxation regulations. Furthermore, valuation reports provided by these professional appraisers should conform to current house financing models prescribed by the CHF in conjunction with branch organizations including VBO, VastgoedPro, and NVM. Appraisers.

Contents of an Appraisal Report

Aside from a sound estimate of value, the assessment report must also indicate the following:

  • The client, as well as the concerned parties
  • Purpose of the report
  • The type and definition of the valuation reported
  • Inclusive dates of the appraiser’s judgment and conclusions
  • Notable characteristics of the property such as location, legal, physical, and economic attributes, real property interest value, and even intangible items and trade fixtures
  • Existing easements, encumbrances, restrictions, reservations, leases, covenants, declarations, contracts, ordinances, special assessments, and other relevant items
  • Division of interest including physical segment, fractional interest, partial holding
  • Scope of work that will accomplish the assignment

St Maarten Appraisal Methods

The St Maarten Appraiser uses a number of methods to come up with an estimated value of the St Maarten property which includes:

Sales Comparison

The sales comparison approach outlined in detail above requires drawing up a comparable analysis from similar properties within the area which have been purchased recently. Professional appraisers take into account a range of factors when making a comparison, but the most commonly used are:

Location and neighboring areas

A property’s location has a profound effect on the value of the property. Appraisers take into consideration accessibility to learning institutions, nearby bodies of water, proximity to roads and highways, as well as pollution levels
h5>Recently sold listings

Checking property values vis-à-vis recent property sales properties provides a benchmark for the value of properties in any given area.

Features

If you have a residential property, it must be compared with nearby residences that share almost identical features such as the number of bedrooms, bathrooms, garages, and square footage sitting on tracts of land of similar sizes.

Age and condition

In addition to comparing properties of the same age, checking their condition is equally important as both have a significant influence on property valuation. Two similar residential properties in the same neighborhood are not necessarily in the same condition. If one of the properties requires some repairs, it will work against its value.

For sellers, there’s a host of other features that may help to increase the value of the property. However, the sales comparison approach is subjective to a certain degree and is dependent on other external factors e.g. state of the economy, the real estate market, and the job market – all have a direct effect on the selling price of the property and how long it remains available in the market.

Average price per square foot

After compiling similar homes, take the price of each of the properties and divides them with the square footage of the property being appraised to get the average price per square foot of all the comparable properties. Multiply the result by the square footage of the property to get the actual average price per square foot.

Professionals agree that the sales comparison approach is the most reliable property valuation method and is typically used by real estate agents to find out if the price of a property is fair and well within market levels.

St Maarten Appraisal

Words for the Buyer Valuation

If the property valuation does not go below the contract price, you should proceed with the property purchase knowing you are receiving a property that is correctly evaluated based on existing market conditions. The transaction grinds to a halt when the St Maarten Appraisal falls below the contract price – a scenario neither party doesn’t want.
However, this allows the buyer to ask the seller to lower the price. The seller may opt for a second opinion and present a better case for a higher value.

Words for the Seller

With a low appraisal, the seller has the option to lower the contract price to proceed or maintain the price. Waiting for a cash buyer in post-Pandemic economy is unlikely to offer a higher price without the need of an Appraisal.
If properties in a surrounding area have recently experienced what is called distressed sales, this may result in a lower appraisal value. If the seller feels that the short sales or St Maarten auctions have caused this, the seller may persuade the St Maaren Appraiser that the property is worth more given it is in a significantly better state compared to nearby properties. Hoping that this report would convince the Appraiser to make an independent judgment based on the information provided.

St Maarten Real Estate Is Booming

Throughout the pandemic, we at Century21 in St Maarten are thankful that we have had some of our best months in recent times. Its been adventurous and we have met some amazing people along the way. We look forward to working with you soon. We just love the business. So give us a challenge, difficult times like these really bring us into our element and we have stood out from the rest.
May be celebrate our good times together.

One of the most exciting projects was Oryx Residences and the accomplishment of 80% under contract within 4 months. Working with our friends at Oryx Residences has been a highlight. Its the one of the largest residential projects in Cay Hill, developed by the APS / Algemeen Pensioenfonds Sint Maarten. A glorious St Maarten home, new low-cost residential properties in Cay Hill, these homes provided an opportunity for St Maarteners to become proud owners or renters of robust family homes at competitive prices ($145,000 – $245,000). It would not be an exaggeration to state that the majority of units went under contract within the first 2 months. In fact, within the first four months, Century21 St Maarten, in collaboration with the APS team, managed to sell 80% of the units amid the pandemic. The St Maarten homes, which include 1-,2- and 3-bedroom units, are guarded by security 24/7, and each home has been designed to remain resistant to hurricanes. Essentially, Century21 St Maarten holds an undisputed reputation of offering homes at the best locations, with unparalleled security and a sense of living in a tight-knit community. The projects are undertaken to keep every potential homebuyer in mind- children, adults, and the elderly.

Oryx Residences, Cay Hill

At the heart of Cay Hill, the new sixty-two concrete homes are being eyed by many. Despite the absence of a bustling economy, courtesy of COVID-19, no stones were left unturned to make this project a success. For instance, buyers of townhomes are permitted to established additional floors based on their needs. Some of the enticing provisions offered include ceramic tiles, Corian kitchen countertops, aluminium hand railings adjacent to the stairs, aluminium windows, a large concrete gazebo, a play area for children, concrete pavement, private parking, and so much more. Buyers have been raving about the units and the features offered, with their glaring reviews up on our website to see. Both the townhouses and the apartments are being offered for a price that is less than $250,000!

Oryx Residences

St Maarten’s Rising Popularity

While the onset of the coronavirus pandemic initially seemed like the end of the world, it definitely did not seem to affect St Maarten’s popularity among tourists. In fact, just in 2019 a year marked by the pandemic’s entry the region witnessed an 80% increase in visitors. This rise is attributed to the increase in flight frequencies from major gateway cities coupled with the introduction of new airport gateways. The same year, Jet Blue introduced its new flight service between Fort Lauderdale and St Maarten, Sunwing’s winter flight service out of Montreal and Toronto was revived, while KLM returned with its direct 3 times weekly flight. All in all, these few changes were enough to attract visitors from across the globe, who remained undeterred despite the coronavirus pandemic after the lifting of travel restrictions in different countries. With the tourism industry ablaze, all eyes are on St Maarten for attractive and lucrative investment opportunities.

Real Estate Boom in St Maarten

Another positive indicator that can be quite comforting to all the stakeholders of St Maarten and Century21 alike is the booming real estate in the region. In fact, we are proud to become a future home to a US $220 million luxury hotel resort and condos, which is a project by Tau Capital and Altree Developments Inc real estate development firms in collaboration with Cay Bay Development (CBD) NV, the master developer at Indigo Bay. This hotel would include five-star amenities as well as 94 hotel rooms and suites, 55 lanai suites, 60 two-bedroom units, 15 three-bedroom units, a large luxury spa (10,000 square feet), a conference facility, and so much more. Not just that, Harmony Promotion and Marriott International, in tandem with several investors, have recently announced their plans to develop a five-star hotel in Baie Nettle, which will be scheduled to open in 2023. With top-class facilities, these two projects throw light upon St Maarten’s bright future, regardless of the state of the pandemic.

Indigo Bay Hotel

Who Are We?

Century 21 St Maarten is a full service St Maarten real estate residential and commercial brokerage company representing sellers, buyers, renters, landlords, and developers of luxury properties. When buyers and sellers think about real estate in St Maarten, their thoughts pace towards our projects. Specialists in Terres Basses villas for sale and St Martin villas for rent. Our Indigo Bay villas are a favorite among sellers looking for serene homes with views that are only dreamt of by many. At Indigo Bay, our luxury villas are up for grabs, albeit they too are selling at a very quick pace. Not just that, our properties stand out wherever we set our foot; Cupecoy, Dawn Beach, Simpson Bay Beach, Oyster Pond, Maho, and so many more beautiful places.

Indigo Bay, St Maarten

Real Estate in Indigo Bay

New Indigo Bay Hotel and Condos launching soon. Message me for the marketing brochure. Its phenomenal!

This is 20 years of premium real estate experience.
A large part of this was at Indigo Bay.
Been through every up and down.
Only one thing stays constant.
Indigo Bay remains top!
Prices stay up.
Land is rare.
Secure home.
Indigo Bay.

St Maarten is famous for its ‘high return’ motto!
Buying TODAY makes you RICH tomorrow

Call or WhatsApp me for latest Indigo Bay availability and villa pricing.
Ritika: +1721 526 1819.
Featured on HGTV

Villas for sale 2021

Four bedroom ultra-modern villa with secluded location in Indigo Bay for $1,800,000.
DEAL Two bedroom Modern Indigo Bay villa with pool for $625,000.
DEAL Brand new four bedroom Indigo Bay villa with pool for $850,000.

Indigo Bay St Maarten

Why Buy Indigo Bay Real Estate

  • Indigo Bay remains the number one investment property location in St Maarten for long term return.
  • Any property purchased here today is guaranteed to be appraised 20% higher in 7 years!
  • There is no better designed, managed, luxury purpose built secure development that Indigo Bay Estates.
  • In my experience this development started in grand celebrations with top international bands.
  • With an aim to bring the best in real estate, to revel in the glory of their achievement.
  • Indigo Bay achieved great highs and many lows, in no part their fault.
  • But where they are today, has been a masterful stroke of genius.
  • The massive investment in world class infrastructure, has paid off.
  • The Indigo Bay name rings as upscale residential.
  • Offering the best in location, near to everywhere, perched right in the center of a quiet majestic bay.
  • Philipsburg city is simply a 10 minute drive towards the east.
  • PJIA Airport (SXM) is a 20 minute drive in the opposite direction.
  • The beach is just a three to five minute walk down safe roads.
  • Quiet, secure, serene and picturesque.
  • A Caribbean gem in every way.
  • Welcome to Indigo Bay.

More Reasons To Buy St Maarten Property

  • No property Taxes
  • Capital Gains: No
  • Closing Costs: 4% Transfer Tax, Approx. 1.5% Notary fees and 1% transfer fees
  • Indigo Bay’s recent new owner/developer has invested significant resources over the past two years in infrastructure: roads, lighting, drainage, internet and utilities. And stands ready to help in development of the new five-star hotel and resort.
  • Site is safe and protected: 24-hour security guards at development’s gated entrance.
  • Central location: Only 12 minutes from Princess Juliana Airport; 5 minutes from Philipsburg (main town on Dutch side); 5 minutes from Simpson Bay (shopping, night life); 10 minutes from Marigot (main town on French side); 15 minutes from Grand Case (restaurant mecca on French side).
  • Proven record against hurricanes. Little damage from Hurricane Irma: site is protected from easterly storms by 1,200-foot peaks. Irma hurricane damage was minimal compared to other parts of the island.
  • Steady breeze: cooling breeze from the east swirls over mountains and keeps the hotel site and west side of the bay cool throughout the afternoon.
  • Premium sunset views

Indigo Bay

The water is soft here. Gently splashing on the beach, with rarely a large wave in sight. Just calm clean waters of Indigo Bay.

I can tell you living in Indigo Bay makes you proud. The hill top entrance is key to Indigo Bay’s x-factor.

Its just ‘wow’ every day, every time and every sight in Indigo Bay. I am not exaggerating!!!
The west facing ocean views are magnificent.
Red sunsets, green mountains and blue waters, Indigo Bay is a real life landscape masterpiece!

A short stroll to the famous Indigo Bay Beach which features white sand, loungers and a restaurant and bar. And this condo is close to all amenities. A few minutes drive to just about everything as it is halfway between airport and Philipsburg. Perfect for vacationers renting by the week.

360 Degree Views of Indigo Bay

360 degree View of Indigo Bay 1
360 degree View of Indigo Bay 2
360 degree View of Indigo Bay 3

Where is Indigo Bay

The Indigo Bay Estates property in St. Maarten is widely recognized as unique and unrivaled in terms of its strategic and very accessible, yet very secluded location on the island. Indigo Bay Estates is unique because it represents the last remaining pristine ocean-front property available for a large mixed-use development on the island. It is unique also because the developers decided to protect and preserve the natural assets of the property as much as possible, by applying a low overall buildout density.
Consequently, Indigo Bay is able to offer its future owners and visitors more green spaces, recreational facilities, privacy and exclusivity than any other project on the island.

Indigo Bay Map

Topographic map of Indigo Bay ground surface and sloping

Topographic map of Indigo Bay

Indigo Bay – A Tropical Paradise In The Caribbean

The larger Indigo Bay site encompasses 148 acres, situated in a bowl shaped valley tapering towards the water’s edge. The property extends from the ridge line between Little Bay and Cay Bay in the East to the division between Cay Bay and Cole Bay in the West and from the Main Road around Cole Bay in the North. Indigo Bay is situated on the south side of the Island half way between the Dutch Capital of Philipsburg and the Princess Juliana International airport. Driving time between the site and the airport under normal conditions is approximately 20 minutes. Access is obtained on the property’s north side from a roundabout at one of the major road-ways connecting Philipsburg and the international airport. Ingress and Egress is obtained via a single road from the ridge on highest point of the property.

Competitive advantages of the site include its calm, reef protected waters, feeling of seclusion and quite, the fact that it represents one of the last undeveloped properties in St Maarten, easy access from the airport, Philipsburg’s nightlife attractions and duty-free shopping sector of downtown. The site’s southerly orientation affords maximum sun exposure throughout the day. Additionally, the government protected reef which lies off the southeast sector of the site featuring a sunken cargo vessel offers one of the Island’s best diving and snorkeling opportunities.

Indigo Bay also boasts constant northwest breeze keeping homes cool and ventilated in this eco-friendly upscale community.

Indigo Bay – A Caribbean Residential Development

Indigo Bay residential development stand apart by offering a multitude of eco-friendly and sustainable energy saving amenities rarely found in Sint Maarten.

The eco-plan below show how much nature is being given an important at Indigo Bay. In reality there is even more green than the eco plan shows.

Eco plan Indigo Bay

  • Every home in Indigo Bay has ocean views.
  • Height restrictions and development limitations ensure that all homes in Indigo Bay comply with same strict guidelines.
  • A well planned residential development with sufficient infrastructure in place to make this the best premium location on the island.
  • Hurricane and earthquake resistant poured-in-place concrete structure.
  • Impact resistance glass.
  • Minimum building footprint for maximum preservation of green nature areas
  • Eco-friendly wastewater treatment plant
  • Rainwater collection cisterns
  • Low-consumption dual-flush toilets
  • Solar street lighting
  • Thermally insulated construction
  • UV-reflecting exterior paint
  • Heat reflecting roof surface
  • Augmented security through design and landscaping
  • Solar electrical systems – standard on many residences
  • Cross-ventilation design – without compromising security
  • Heat-reflecting glass
  • Shade-providing hurricane-resistant Bahamas shutters
  • Low-energy localized air conditioning systems
  • Energy-efficient appliances
  • LED energy saving lighting
  • Energy-saving in-line hot water boilers

Indigo Bay Real Estate

Indigo Bay property is being held back at the moment in anticipation of a huge increase in real estate prices once the five star resort is confirmed. The resort will make this into the premium vacation rental location with residents having access to a new beach that will be created by the five star resort and possibly a marina.
One of the things that astonishes me is the rental income generated in Indigo Bay. It is simply phenomenal that a two bedroom villa with ocean view can generate over $75,000 in rental income a year! This income with the guaranteed rise in property values in Indigo Bay, makes this overall the best home to buy in St Maarten!

Indigo Green Condos

New Indigo Green Two Bedroom Modern Condos

Beachfront Hotel at Indigo Bay

The new five-star hotel development at Indigo Bay is going to change how Indigo Bay is perceived. An already upscale community which is going to be be guaranteed of world class facilities and new beach which will change everything you know about Indigo Bay, St Maarten.

https://www.thedailyherald.sx/editorial/say-no-to-everything

Property prices in Indigo Bay are going to go up by 20% in 5 years! Are you ready to buy your condo at Indigo Bay.

Indigo Bay Hotel Condos

Indigo Bay in the news.

Tau Capital and Altree Developments Inc. real estate development firms have partnered with Cay Bay Development (CBD) NV, the master developer at Indigo Bay Development, to propose the development of a US $220 million luxury hotel resort and condos in St. Maarten.

The proposed high-end hotel development at Indigo Bay Development, which The Daily Herald reported on several weeks ago, is expected to feature certain luxury accommodations and five-star amenities, including 94 hotel rooms and suites, 55 lanai suites, 60 two-bedroom units, 15 three-bedroom units, a large luxury spa (10,000 square feet), a conference facility, an all-day dining restaurant, a fine-dining restaurant, beach bar, pool bar, fitness centre, multiple pools, and a kids and teen club, it was stated in a press release issued by Cay Bay Development NV.

Additionally, the proposed hotel development is expected to feature large water ponds and greenery areas in keeping with its eco-centric vision, as well as an extensive public parking area for public beach access to Indigo Bay.

New world class developments planned

Further towards the beach there are also plans to St Barth’s style villas at Indigo Bay further increasing the luxury classification of Indigo Bay within St Maarten. On top of hill we have heard about plans to build one-bedroom condos and studios. St Maarten is the most up and coming Caribbean island, with Indigo Bay at its heart. This is a location that is guaranteed to provide long term returns.

If you normally put your money into futures, this is your call!

Real Estate Roundup!

May new home sales gain 2.2% from April

Sales of new single-family houses in May 2015 were at a seasonally adjusted annual rate of 546,000, which is up 2.2% from April, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. — From Housing Wire

3 ways to tame student loan debt and afford a mortgage

It’s no secret that student loans can make buying a home a challenge. But what exactly is the problem, and how can buyers overcome it? The problem is that student loans can be included in the buyer’s debt-to-income ratio, or DTI. — From Bankrate

Read more

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