'Meet the Agent' - Brian Madeiros, President, Coldwell Banker Bermuda Realty
This month for 'Meet the Agent' we interview Brian Madeiros - President of Coldwell Banker Bermuda Realty. Brian discusses his thoughts on market direction over the next 12 months, his favourite and best value listing on the market currently and also his top tips for house hunters.
How long have you been a Real Estate agent? I obtained my real estate license over 20 years ago and have been an owner of Bermuda Realty Company Limited (trading as Coldwell Banker Bermuda Realty) since 2000.
Why do you like working for Coldwell Banker Bermuda Realty? The integrity of the team, professionalism and knowledge of our agents and an innate desire to constantly innovate.
What is the favourite part of your job? Problem solving and meeting new people.
What is your favourite property on the market right now? As an avid boater it would have to be Hampton Head Manor. The property offers a local or international purchaser deeded water access to the waters of Riddell’s Bay; private garden area for entertaining and deep covered verandahs of main and garden floors. It was renovated in 2002 but still includes parts of the original estate that date back to mid-1600s.
What property on the market right now, in your opinion, do you think is really good value? RamRe House on Reid Street. This is an example of prime commercial real estate that is available for sale either for investment of occupation. The building consists of 7 rentable floors, two below Reid Street with natural light from south facing windows, and a ground level retail floor plus 4 office floors with Harbour views. It has lots of potential and is listed for only $4.3M.
How do you see the Bermuda property market over the next 12 months? Overall we will probably continue to see a slow but gradual improvement in terms of residential demand which will be most noticeable in the standalone home market over $850,000. The commercial rental market will remain soft from a demand perspective unless we see a seismic shift in our economy from a growth perspective. We will need to see a tangible increase in our population in order for any economic improvement to be sustainable in the longer term.
What are your top 3 tips when looking at a potential new home? Make sure you have consulted with your lender in order to ascertain your purchasing ability in terms of acquisition price. Always ask for professional advice as it relates to the structural integrity of the home if something concerns you. Make sure you are working with a real estate agent you trust and have seen the entire competing inventory so that you can make an informed decision when submitting an offer.
What do you think of propertyskipper.com (we promise not to edit!)? It creates efficiency from a buyer’s perspective.
You can contact Brian Madeiros at 441-247-1801 or firstname.lastname@example.org