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January 2017

Found 8 blog entries for January 2017.

E&V News

Hockey Legend Wayne Gretzky Sells Los Angeles Mansion for $6 Million 
Hockey legend Wayne Gretzky, 55, has sold his home in Los Angeles's exclusive Sherwood Country Club for $6 million, the listing agents Nicole Van Parys and Gary Nesen of Engel & Völkers confirms to PEOPLE.

The Best Cities for Buying a Ski Home 
Find the winter escape that’s right for you.

Menorca: Why the Tech Crowd Are Heading to the Balearic Island 
Financial Times 
A start-up ‘decelerator’ is attracting millennials and sparking interest in the island’s property market.

Apogee South Beach Residence Asks $9M 
Curbed Miami 
Become Pat Riley’s neighbor for just under $9M.

Engel & Völkers Opens New Shop in Muskoka, Ont. 
Real Estate Magazine 
Engel &

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E&V News

North America’s Most Exclusive Ski Resort Towns 
Unique Homes 
Engel & Völkers has rounded up the perfect ski homes in eight of Canada and the United States’ most coveted ski enclaves.

Pacific Palisades Home Tied to Record Exec Mo Ostin Sells for $4.86 Million 
Los Angeles Times 
A Pacific Palisades home purchased by legendary Warner Bros. Records President Mo Ostin and later deeded over to his late son, music executive Randy Ostin, has sold for $4.86 million.

6 Palatial Park City Homes Ready for Their Sundance Fest Close-Up 
Pull on your Sorel snow boots and zip up your Canada Goose down coat to take a look at Park City’s best off-screen attractions, its dramatic and luxurious real estate.

Local Realtors Wary of UK Scam 

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Realtors are rich! Really? Have you heard others say that? Let me explain how a real estate agent gets paid in the Cayman Islands. Under the MLS and CIREBA, we charge anywhere between 4 and 10% depending on the list price of the property. In Cayman, the listing agent represents the sellers, and the seller pays the listing agent the commission, and if there is a co-broker involved, then the fee is split 50/50 before Brokerages.

For example, if someone sells a $400,000 home the commission is 7% therefore $28,000. $14,000 goes to the listing agent, and $14,000 goes to the Brokerage who introduces the buyer. However, the agent does not get all $14,000 of that commission; they have to share it with their Brokerage, and a portion of that fee goes to cover

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E&V News

Yacht Featured in James Bond Film 'Skyfall' for Sale at $9.3 Million 
Even sharing screen time with actor Daniel Craig and Bond girl Bérénice Marlohe, 'Regina' was hard to miss.  

Realtors Predict Strong 2017 for Intown Real Estate Market 
Atlanta INtown 
The key phrase for the Intown real estate market in 2017 seems to be “more of the same.” That’s not a bad thing, since last year’s market saw growth in many areas of the city.

Meet the Agent: Toronto Storeys Talks to Anita Springate-Renaud 
Toronto Storeys 
Anita Springate-Renaud is a third-generation real estate agent. Both her mother and grandmother made a living in the business, but nepotism has nothing to do with her success.

The Right Time to Sell Is Anytime 
The New York

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Who pays the Real Estate Commissions in The Cayman Islands?

In Cayman, the Vendor of the real estate pays the real estate fees to the Listing agent, (unless agreed by all parties) and they then share the commission with a co-broker agent. An Engel & Volkers CIREBA agent has the fiduciary responsibility to the vendor/client, and a buyer of the real estate is the customer, to whom that CIREBA agent must treat in an honest and trustworthy manner.

Brokers who are apart of the MLS and CIREBA, (stands for the Cayman Islands Real Estate Brokers Association) our commission fees are set in stone. Any CIREBA Broker or Real Estate Agent who cut their commission to entice a Vendors listing is breaking the CIREBA rules.

The commission is set, depending on the

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E&V News

$1,100,000 Homes in Georgia, Pennsylvania and Arizona
The New York Times 
A former Episcopal church in a Victorian historic district of Savannah, Ga., is on the market for $1,100,000.

SBA Communications Founder Sells Delray Home to Billionaire's Daughter for $7M 
The Real Deal 
The founder and chairman of SBA Communications Steven E. Bernstein and his wife Janessa Russo Bernstein sold their Delray Beach home to the daughter of Cablevision founder Alan Gerry for $7.175 million.

Hamptons Mansion Price-Chopped to $65M 
The Real Deal 
The owners of a French Chateau-style mansion in Southampton Village are stepping up their efforts to sell the property, and dropped the asking price from $75 million to $65 million.

For Sale: A $975,000

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Tax Avoidance and Tax Evasion what is it mean and what is Tax Neutral and Tax Haven?

I am a Realtor in the Cayman Islands, but not a lawyer nor an accountant and every country have their tax code, and as Realtors in Cayman, we have no the authority nor knowledge on tax law.

Let's get real; no one likes paying taxes ever but if we live in a country that pays for some of our services we all have to pay taxes, even in the Cayman Islands.

Many times the words tax avoidance and tax evasion are often used interchangeably, but there is a massive difference. Tax avoidance is legal, but tax evasion is outright illegal and criminal.

Tax Avoidance is the lawful way of reducing taxes owed, by obeying legal tax code or deferring paying taxes of your domicile

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7 Mistakes to Avoid when buying property in Cayman

1) Uneducated in the buying process: This is one of the most important and stressful things to do in life. So read real estate blogs, to educate yourself. Ask our Realtors at Engel & Volkers for the one-page checklist of "Checklist to Buy Properties" this is helpful and we can help alleviate the stress by advising you on the process.

2) Not having the best agent on your side: Yes you can look at FISBO on Ecaytrade, Craigslist or Kijiji but FISBO can be dangerous to you, you are dealing directly with the homeowner, and there are many pitfalls in that. Choose a full-time CIREBA trained Realtor. Yes, giving your auntie who is part-time to assist you may not be the best thing to do, a part-time agents

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