'Meet the Agent' - Ed Williams from Coldwell Banker Bermuda Realty
This month for ‘Meet the Agent’ we interview Ed Williams, a Real Estate Sales Representative at Coldwell Banker Bermuda Realty. Ed discusses why he enjoys working at Coldwell Banker Bermuda Realty and his enjoyment of helping customers through the purchase process, favourite and best value listings on the market right now and also where Ed is currently seeing activity in the market right now.
How long have you been in the business? I began working for Bermuda Realty Company Limited as a Property Manager in the Fall of 2007, managing condominiums and office buildings. When the opportunity presented itself at the end of 2009, I became a Coldwell Banker residential sales agent.
Why do you like working for Coldwell Banker and what’s the favourite part of your job? Prior to joining Bermuda Realty, I worked for the West End Development Corporation as the Business Development Managerfor 16 years. My initial challenge at WEDCo was to encourage entrepreneurs and established businesses to consider opportunities within the Dockyard and this was a success and I found it very rewarding. I recognised that I enjoyed helping people realise their dreams and it became the foundation for me when I joined Coldwell Banker as a sales agent where I guide people through the process of making one of the most important and expensive decisions of their lives. Seeing the joy on your customers’ faces when the sales process is complete, is very satisfying. Another reason I enjoy the role of being a sales agent, involves my love of photography and I use my photography skills to immediately attract buyers.
Where are you seeing activity in the market at the moment? Buyers have recognized that prices of homes have become more affordable and with the banks actively offering mortgages, there are many opportunities presenting themselves to assist with home ownership. Several buyers who have outgrown their condos are looking to purchase a single 3 bedroom home or one with an apartment to earn an income. The converse is also true, as many home owners are looking to downsize from a large house to a condo or smaller home, because their children have left the house, or the upkeep of the house is no longer affordable. There are also those buyers who were unable to afford the house of their dreams, but with the reduction of prices in the market, they are now able to afford such a purchase.
What is your favorite property on the market right now? My favourite property which has only just gone on the market is “Secret Garden” which is a large waterfront property in Southampton, with a spacious 3 bedroom main house with a pool and it has a 2 bedroom apartment which can be incorporated into the main house. There is also a 1 bedroom garden cottage as well as a 1 bedroom dock house.
What property on the market right now, in your opinion, do you think is really good value? Right now there are actually 2 properties which I believe are good value: “Palm Cliff” in St. George’s is a beautifully remodeled 2,000 sq. ft., 3 bedroom, 2 baths, two story home with a modern flair, complimenting the historic Bermuda architectural and is priced at $899,000. CLICK HERE TO VIEW
The other is “Up Front Cottage” a 1,300 sq. ft., 3 bedroom, 2 bath upgraded house, with a fireplace and a basement, situated on 0.28 acre in Southampton, priced at $725,000. CLICK HERE TO VIEW
How do you see the Bermuda property market over the next year? I see a continuation of increased activity with buyers pursuing 3 bedroom, 2+ bath properties, priced between $770,000 +$1,500,000 located in the central parishes.
What are your top tips for purchasers when looking for a potential new home? Purchasers need to prepare themselves to purchase a new home by saving as much money as they can and to become as debt free as possible. Recognising that banks on average will lend 20-25% of the price of a property and you will be required to pay at least 20% as a down payment for the property. Purchasers should arrange to meet with a bank lending officer to find out how much a bank would lend them at that point so they are aware of the property values they are qualified to view. At that point, they should prepare a realistic budget for themselves which will enable them to live and service a mortgage.
Finally – do you have any good tips for sellers when preparing their home for sale? If you are looking to sell your home, you should make sure your property is in the best showable condition that would encourage a buyer to consider purchasing your property. If it is a stand-alone house, you should have an up to date boundary survey conducted to ensure that there are no encroachments. If an encroachment does exist, have it rectified before you list the property for sale. If your home is a condo, make sure that there is a functioning board established and the condominium finances are in good order.
To contact Ed - email: firstname.lastname@example.org or call: (441) 505-0093