back to archive'Meet the Agent' - Sergio Pitcher from Coldwell Banker Bermuda Realty
This month for 'Meet the Agent', we interview Sergio Pitcher, a real estate agent at Coldwell Banker Bermuda Realty. Sergio recently joined Coldwell Banker Bermuda Realty and discusses what he is enjoying about his new role. Sergio also provides some very useful insights into the Bermuda property market over the last 3 years as well as where he seeing activity in the market right now. Sergio also highlights his favourite listing right now as well as where he sees value in the market currently.
How long have you been in the business? 3 months
Why do you like working for Coldwell Banker Bermuda Realty and what’s the favorite part of your job? I absolutely love the team, tools, and training that we have at Coldwell Banker Bermuda Realty. From the moment I began associating with them, they immediately welcomed me with open arms and have delved in with the training. So far, my favorite part of the job is talking with people and making new connections. It’s so fun to just be out there meeting people and helping them with their real estate goals.
Where are you seeing activity in the market at the moment? This is really a mix bag as there is activity in all segments of the market… vacant lots, condos, multifamily dwellings, single family homes and the prices stretch from $300K to $4M. Properties priced correctly are selling quickly and in many cases will have multiple offers. Additionally, rentals are extremely active. Our inventory at Coldwell Banker is at an all time low as the demand is so high. The real estate market is in a constant flux, so it is best to keep in contact with your real estate professional as he/she will be able to give you guidance and data that will assist you in making an informed decision.
What is your favorite property on the market right now? My favorite property right now is Shelly Heights. It’s on 0.8 acres of land with 8 bedrooms and 7 baths. I love the water views, the open space on the land and a swimming pool. Since cooking is one of my passions, the designer triple island kitchen and additional pool kitchen are truly magnificent! Additionally, it has 2 apartments for income and is priced at $1,950,000. It’s a truly beautiful property and I absolutely love it! CLICK HERE TO VIEW LISTING
What property on the market right now, in your opinion, do you think is really good value? That’s a tough one. I feel like a kid in the candy store where there are so many tempting treats! If I have to choose just ONE, I would choose a unit at Rosemont City Place. These units are in excellent condition, they are within walking distance of town in a lovely, quiet residential neighborhood. The units large and roomy, there’s a gym onsite, a pool and parking plus if you are looking for an investment – they rarely come available on the market. Sounds perfect to me! CLICK HERE TO VIEW LISTINGS
How do you see the Bermuda property market over the next 12 months? Based on data for the calendar years 2019 and 2020 compared to 2021, Bermuda has seen an increase in properties sold and total dollar. In 2019, there were a total of 222 properties that sold islandwide at a volume of $207M, in 2020 there were 209 properties that sold at a volume of $181.5M and 2021 there were 231 properties sold with a volume of $269M. The total numbers for 2021 may not be complete as is can take up to 6 months for sold data to appear at the Land Title Registry. Of the 2021 total, 14% of these properties were $2M+ including many lots at Riddell’s Bay. Based on the demand and supporting evidence that we have seen in the market over the past 18 months – 2 years, we anticipate much the same for 2022.
What are your top 3 tips for purchasers when looking for a potential new home?
1. Have your preapproval in hand and closing costs ready to start your shopping, failure to do so will equate to lost opportunities.
2. If you want the property, don’t be cheap. Act like you want it by putting in a good offer. Low balling may cause the vendor to discard your interest.
3. Don’t expect to find the “perfect property”, be willing to make changes/do renovations to create a home that is uniquely yours. Your first property, may not be your “lifetime” property. But, if you find a place that ticks most of the boxes i.e. location, yard size, views, price, etc. this is probably the one for you.
Finally – do you have any good tips for sellers when preparing their home for sale?
Definitely!
1. Do your pre-listing due diligence! It’s so important to get your property staked and ensure there are no encroachments or anything else. Failure to do so can lead to delays and other issues when trying to close the sale.
2. Declutter your home. It can be a lot of work, especially when you have collected several items over the years. But, decluttering will pay off. When a potential buyer sees a lot of clutter, it can be a major turn off. Box things up, dispose of unnecessary documents, and donate anything you can.
3. Refresh the bathroom and kitchen. An outdated kitchen or bathroom can be an immediate turnoff for potential buyers and decrease the value of the home significantly. However kitchens and bathrooms can be made to buyers’ preferences with simple refreshes as opposed to full on remodel. In fact, a kitchen refresh has a greater rate of return than a full on remodel.
To Contact Sergio Pitcher you can call: +1 (441) 799-0109
Or e-mail: spitcher@brcl.bm
