President of Damianos Sotheby’s International Realty, George Damianos recently attended the de Rham Sotheby’s International Realty Sailing Competition in Switzerland. The competition which was sponsored by Julius Baer presented a great opportunity for Damianos to socialize and network with the de Rham team as well as to discuss the real estate industry in their areas. Damianos commented that he had looked forward towards his trip to Switzerland as he was able to deepen his relationship with the European Sotheby’s affiliates. The Julius Baer Challenge 2009 ended on September 20th, 2009 with the SUI 1 Alinghi and SUI 5 Foncia winning first place on the Grand Prix du Beau Rivage, which is the last step of race. The entire event was a great success and concluded with a sit down dinner for ... 11/17/2009

    On a beautiful Abaco evening, earlier this spring, the residents of Marsh Harbour, Abaco, Bahamas and surrounding cays were treated to a double program of "Cinderella" and "The Sound of Music" presented by the Marsh Harbour Dance and Gymnastics School. The musical dramas showcased the talent of the delightful young Abaco performers with the generous support of local adults to round out the cast. Wonderful performances were given by all and the children shone throughout both musicals. Lydia Bodamer, a Realtor with Damianos Sotheby's International Realty in Marsh Harbour, volunteered her time and talent to help with "The Sound of Music". Originally cast as a nun then as a second nun, Lydia was called upon to play Liesl, the eldest of the Von Trapp children, midway through rehearsals a... 11/15/2009

Nov. 5 (Bloomberg) — Sotheby’s Impressionist and modern art sale last night beat the company’s top estimate as sellers including Conde Nast chief S. I. Newhouse Jr. and investor Louis Reijtenbagh unloaded Giacomettis, Picassos and Renoirs. The $181.8 million auction was Sotheby’s first evening Impressionist sale in New York in 3 ½ years to beat its high estimate ($163.6 million), the publicly traded auctioneer said. The tally was nearly triple Christie’s International’s Nov. 3 result and Sotheby’s equivalent sale in May, when its top two lots failed to sell in the wake of the financial crisis. All but 10 of the 66 artworks sold. “Panic is out,” said New York dealer Helly Nahmad. “The market is back.” The two-hour sale contrasted with the hour-long, 40-lot auction at Christie’s the nigh... 11/08/2009

October 2009 Reside: http://viewer.zmags.com/publication/7e2baae9#/7e2baae9/1 11/08/2009

See the latest in news and information posted to our microsite at wsj.com/sothebysrealty 11/08/2009

Damianos Sotheby’s International Realty, a luxury real estate firm based in Nassau, Bahamas, today announced that this month marks the fifth anniversary of the launch of the Sotheby’s International Realty network, of which it is a member. “Five years ago, we made a commitment to build the quintessential luxury real estate franchise system in the world,” said Michael R. Good, president and chief executive officer, Sotheby’s International Realty Affiliates LLC. “We set the bar high and we have worked with passion and undying commitment to achieve our vision. I am proud that we have attracted and selected the most exceptional firms that make up our growing network.” In February 2004, Realogy Corporation, a global provider of real estate and relocation services, entered into a long-term str... 10/29/2009

The Beach House Tapas and Wine Bar, recently opened, is the first of its kind on Eleuthera. The relaxed atmosphere of The Beach House invites tourists, foreign homeowners and locals alike to experience the essence of island lifestyle. Miles of pink sand beach lie before you as you sit at the tiki bar and sip your exotic cocktail. Large decks provide for lounging and outdoor dining. One guest's comment: "The Beach House is South Beach meets St. Tropes meets Ibiza and all just a few miles away from home." The Beach House serves up a tasty treat with tapas and appetizers. Tapas is essentially a style of eating rather than a form of cooking. It means sociability, friends and family. People of a like mind talking and drinking in a relaxed atmosphere while nibbling away on little bites of in... 10/29/2009

Damianos Sotheby’s International Realty joined other community minded local business houses, in support of The Rotary Club of Abaco’s Fire Hydrant Project. This project was started over two years ago by Rotary, with the objective to install much needed fire hydrants throughout Marsh Harbour and the neighboring communities of Dundas and Murphy Town. With the terrible fires in the “Mud” that destroyed over 50 homes and more recently, “Sapodillas Restaurant” and “Maxwell’s Grocery Store”, this request from the Marsh Harbour Volunteer Fire Department, has become a matter of urgency in the Community. Working from the Marsh Harbour office, our own Bill Albury, as Grants Chairman of The Rotary Club of Abaco has worked tirelessly to steer this effort to raise over B$40,000.00 within the commun... 10/29/2009

George Damianos in the 2009 World Sunfish Championships   RENALDO DORSETT, Tribune Sports Reporter, http://www.tribune242.com/10202009_Sunfish_Sports After the opening day of competition in the 2009 World Sunfish Championships, Bahamian competitors find themselves with much ground to make up to claim pole positions near the leader board by the end of the week. With the release of the preliminary results yesterday afternoon, Bahamians found themselves in less than favorable positions early on. Charles Kelly recorded the best finish of any of the 15 Bahamian sailors in the field in 18th position with a net score of 38, a result of an 18th place finish in race one and 20th in race two. Former three time Sunfish World Champion, Donald Martinbourough closely trailed Kelly in both races as he... 10/29/2009

  Nassau, Bahamas (January 2009)The Bahamian island the New York Times once called “a blank canvas waiting to be painted” got a fresh coat of hope recently when the tiny Rainbow Inn was sold with new owners already at work creating a steakhouse and gourmet restaurant. For Governor’s Harbour, Eleuthera, the sale of the quaint 7-room Rainbow Inn signals a promising boost in business, according to Jonathan Morris of Damianos Sotheby’s Realty, who handled the transaction. “People who are familiar with central Eleuthera know the incredible potential this area offers,” said Morris, an estate agent who has been specialising in Eleuthera properties for more than a decade. “But potential and reality are two very different creatures so we are pleased that these enthusiastic new owners saw the po... 10/22/2009

Buyer Tip: Are there guidelines to how much a Buyer should offer? Now you’ve found the house you want, how much should you offer to pay for it? This can be a tricky puzzle, because there are no carved-in-stone guidelines. Some homes are overpriced, while others are a "real steal" at the full asking price. Ask your agent for comparables To determine a fair purchase offer, ask your agent to prepare a written comparative market analysis showing the sales prices of similar neighborhood homes that sold recently and the asking prices of comparable homes currently on the market. Compare the details To calculate your best offer, compare the features of the home that interests you with the features of similar homes that have sold recently in the same neighborhood. Seller Tip: The dangers of over... 10/22/2009

The Commonwealth of the Bahamas is a 750-mile-long chain of approximately 700 islands and 2,500 small, limestone-formed islets or cays. This Atlantic Ocean archipelago stretches from the northwest island of Bimini through 100,000 square miles of some of the most pristine waters in the world to its most southeastern island, Inagua. Bimini lies within 50 miles of the coast of South Florida and Inagua within 50 miles of the Caribbean islands of Cuba and Hispaniola (Haiti and Dominican Republic). About 30 of the islands of the Bahamas are inhabited. The nation’s most populated areas are Nassau, the capital, located on New Providence Island, and Freeport on Grand Bahama. The other inhabited islets or cays are collectively called the “Family Islands” or “Out Islands”. * The Bahamas Ministry o... 10/22/2009

Damianos Sotheby's International Realty Insights Since the 1930’s, The Bahamas has been one of the world’s principal international financial centers. It is home to more than 400 licensed banks and trust companies, with a total asset base of more than $250 billion, many of which are branches and subsidiaries of the largest and most reputable financial institutions from 36 different countries. The financial community is also made up of respected and well-established accounting and law firms supported by a sound English-based legal judicial system. All Bahamas –registered banks and trust companies are regulated by The Central bank of The Bahamas. Established in 1974, The Central Bank is responsible for the licensing of banks, regulating and supervising the financial system, and generally ... 10/22/2009

The Hope Town Association was once again on a mission. Discovery Day seemed the perfect time for them to launch a new event they named “Rediscover Taylor Park Day”. A day for families to come out and enjoy the park, basket ball field, beach volleyball, baseball diamond, and pool area. Children participated with enthusiasm in relays, swim competitions, ground ski races and soldier crab races. There were also Olympic-like challenges for the adults such as ball toss and bean bag toss. The group sold refreshments and donated desserts in an effort to cover expenses. The Association is a very interesting one…. they are the inconspicuous group that spends time beautifying and caring for the vibrant village of 300 people. They are the volunteers that quietly go about planting and maintaining gr... 10/22/2009

Two of the country’s most prominent realtors have donated $16,000 to the Bahamas Association for the Physically Disabled to provide 110 wheelchairs for disabled children across the country. The BAPD received the shipment with spare parts from China last week. George and Virginia Damianos of Damianos Sotheby’s International Realty, presented the cheque on May 5, 2008 at the BAPD headquarters on Dolphin Drive, surrounded by some of the children that will benefit from the generous gift. Last week the BAPD received the shipment with spare parts from China. Ms. Damianos said she and her brother George were inspired to make the contribution by the patron of the charity, Sir Durward Knowles. “I know it’s going to help the physically disabled - more and more children- to be more and more mobile... 10/22/2009

PARSIPPANY, N.J. (Aug. 4, 2008)– Sotheby’s International Realty Affiliates LLC today announced it was rated the most prestigious real estate company by high net-worth consumers in the Luxury Institute’s 2008 Luxury Brand Status Index survey. According to the Institute, respondents who would recommend the Sotheby’s International Realty brand say it has “high-end properties,” “exclusive listings,” “great customer service” and an “excellent reputation.” “We are pleased with this recognition because it reflects our commitment as a brand to providing top quality service to luxury market consumers around the world,” said Michael R. Good, president and chief executive officer, Sotheby’s International Realty Affiliates LLC. “As we continue to experience consistent, strategic growth worldwide, a... 10/22/2009

The Bahamas continues to be the destination of choice for boaters, beach lovers, Hollywood celebrities like Sean Connery, Johnny Depp, Nicolas Cage, and savvy investors of the world. Word is spreading about this wonderful island paradise tax haven where there is no personal income tax, capital gains tax or inheritance tax. The Islands of the Bahamas – 700 islands and cays, are conveniently situated just 50 miles east of Florida in the Atlantic Ocean. The financial services sector in the Bahamas is well established, attracting high profile banks and financial institutions. By using the Bahamas as a domicile residents may enjoy a tax free status. Changes made to banking regulations have helped in making the Bahamas one of the largest private banking locations in the world explains vice pr... 10/22/2009

Closing Procedures When buying property in the Bahamas, there are a number of relatively straightforward steps to take in order to close successfully. Sotheby’s International Real Estate Agent Lana Rademaker maintains a personal dedication towards help in her clients complete their transactions as quickly and efficiently as possible. Here, she explains exactly how she helps her clients through the process. "My goal is to offer help and support for my clients so that they do not stumble through the purchasing process in a haze of confusion and uncertainty. From the initial meeting with a client, I walk them through all of the necessary steps of purchasing a property. In this I cover all of the details on closing costs, obtaining necessary permits and approvals and laws pertaining to real... 10/22/2009

Buyer Tip: Protect yourself, work with a licenced Realtor who knows the local market and has professional contacts with service providers such as financial institutions, home inspectors and conveyance lawyers, all of whom will assist you with the purchase process. Check his or her credentials with The Bahamas Real Estate Association. Seller Tip: Hire the right real estate professional for the job. Relying on the experience of a real estate agent makes financial sense. A National Association of Realtors survey of recent home buyers and sellers found that the median home price for sellers who use a real estate agent is 16 percent higher than a home sold directly by an owner. 10/22/2009

Buyer Tip: Investment Strategy Realtors can provide you with information about how the local market has performed. Historically real estate has been a superb long-term investment, and many people have created fortunes on short-term investments in hot markets. If you are considering an investment in real property, ask a professional BREA Realtor whom you trust to help you work out your strategy. Seller Tip: Competitive Pricing The first step is to contact a professional BREA Realtor for a market analysis. The Realtor will look at recent sales of comparable homes in your area and give you information about other properties that are currently on the market. By comparing the size, location and condition of your home to the competition, your agent can help you determine what to ask for your ... 10/22/2009