Jamaica’s GDP growth

 

“Domestic confidence indicators are at an all-time high, and there are improving signs of economic activity, increased FDI inflow, and stronger private sector credit growth. Real GDP growth is estimated at one per cent for FY15/16, and is projected to reach 1.7 per cent in FY16/17,” he noted.

It is said that Jamaica’s GDP is said to be improving according to the article below.  However, I am interested in finding out how many small businesses are feeling the effects of growth.  Is your business growing, is your production booming, is your inventory moving? These are my questions, is the everyday Joe benefiting from the economic policies that are onerous on the population.

I would love to hear your point of view.

http://www.jamaicaobserver.com/business/VM-boss-welcomes-Gov-t-support-for-financial-inclusion_76552

 

Unregistered Property Owner

I remember when I in the process of studying to become a Real Estate professional couple years ago.  I was outraged at learning in one of the law courses that the Law protects squatters with possession of other people’s property otherwise known as the registered legal owners. According to Section 70 of the Registrar of Titles Act.

Property owners/ register proprietor;  who have registered your name on the title beware of “Squatters”.  If a squatter takes adverse possession of your land for 12 years the title “extinguishes”.

I was going through the Sunday Observer (October 2, 2016) and there it was.  The article on page 5 was appropriately tiled ” A title or toilet paper?”   I am still outraged to this day.  See below to read the full article for yourself.

In Jamaica, I deal in Real Estate and there is nothing more prized in possession than property ownership to Jamaican.  And we have many hard working persons that toil for years and save up to pay the high 10% cash deposit to make their first down payment.

Real Estate is one of the largest purchase a Jamaican will make in their lifetime. And for majority it takes a lifetime to save  up or to pay off that mortgage to own that property outright.

There are so many stakeholders in the Real Estate market that are adversely affected by this kind of hostile take over.  Not to mention the families that are denied their right to ownership and right to alienate the property depending on the type of tenancy.

Not to mention the risk the Mortgage Banks are taking to grant a loan for the purchase of that property to lose all rights to a squatter. In contrast the squatter’s legal time given is 12 years, and it will take the Mortgagor up to 30 years to pay off that property loan.

What of tax revenue? Do these squatters pay property tax too? Is it possible to have double payments on one property in such a situation?

What of  the utility company like NWC ; water is tied to to title (for properties with infrastructure in place).

This matter needs to be addressed unless we have no issues with squatters stealing from hard working honest people. It is about time that the law makers make this situation right.  Laws are made to support what the majority of law abiding and taxpaying citizens want to govern the land.  In this case who wanted this rule? Who say this as justice?

(Views expressed above are of the writer not necessarily shared by the company)

Copy link: http://www.jamaicaobserver.com/business/A-title-or-toilet-paper-_75763

So, a person’s name is stated on a Certificate of Title as the registered proprietor (owner) of land in Jamaica. That logically means that the person is conclusively and undisputedly the owner of that land, right? Maybe not.

Two months ago the Privy Council (Jamaica’s final Court of Appeal) handed down a rather worrisome judgement in the case

Recreational Holdings 1 (Jamaica) Ltd v Lazarus [2016] UKPC 22, Privy Council Appeal No 0085 of 2015 (which we shall now refer to as the case).

The crux of the case, as paraphrased from the judgement, is as follows:

Matthew Hogarth is the Managing Partner of MH&CO, Attorneys-at-Law, a boutique corporate law firm. He may be contacted at: mhogarth@mhcolegal.com

Open House- St. Catherine MLS17489 138- MEWTON DRIVE, ENSOM ACRES July 30th & 31st 11am-pm

 

JMD 6.8Mil Town House for Sale72d614d8-2db1-4716-a45c-ad68ce013f86. Nicely renovated townhouse in a desirable scheme just five minutes outside Spanish Town. It features an open plan concept with living, dining & kitchen combined. There is ample space to expand for a new kitchen and washroom. Call Karen (876) 364-0198 today for viewing. Mortgage Rep. on site for FREE Mortgage Prequal.

 

 

 

 

 

RAJ 2017 Board of Directors

Congratulations to the Board Elects and the Special Committees.  Great work and accomplishments had so far for the Board, however, 2017 will be a year to make the continued growth (in numbers) of this body work for the industry.  “There is power in numbers”.  Wish you the best in achieving the goals set for the organization.

Posted by the RAJ:

The 2017 Board of Directors met on June 28, 2016 to elect the Executive officers and Chairmen for the Standing Committees, namely:
2017 Board of Directors
The 2017 Executive Officers are as follows:

  1. Mr. Edwin Wint – President
  2. Mr Howard Johnson Jr. – 1st Vice President
  3. Mrs Lorraine Levy-Finlason – 2nd Vice President
  4. Mr. Donovan Reid – Treasurer
  5. Ms. Barbara Clarke – Secretary

Congratulations to all the Officers who have so graciously volunteered to serve our members to the benefit of our industry. We look forward to another productive year.

RAJ History

REALTORS® Association of Jamaica

had 68 students attended the June 2016 CIPS Institute in Kingston, Jamaica.

June was also the 50th Anniversary of The Realtors® Association of Jamaica (RAJ). Current President Edwin Wint, also celebrated the achievement of a membership totaling approximately 900 members. The AGM of the Raj was blessed with visitors from NAR; Representatives from NAR included Carla Rayman, NAR Regional Coordinator; David McCoy, NAR President’s Liaison to Jamaica; Hanne Sagalowsky, NAR Global Real Estate Liaison and Carol Kairis, Managing Director at NAR Global.

Posted in Events & EducationInternational Real EstateNAR Global, by  on June 27, 2016

 

From one RAJ member to another congratulations is in order overall!

Season’s Greetings

Christmas came really fast this year, I think I enjoyed my work a little too much. The challenges met aided in my development as a team leader and expanded my knowledge, for this I am grateful.

I want to thank our valued clients, you called, visited, and closed transactions in numbers and we are truly appreciative of your support. We look forward to continuing to serve you and helping you in the pursuit of your Real Estate dreams.

Our Agents deserve recognition for their hard work and determination. They were also very entertaining as they conversed in the office about their kids and their brilliance, lol.

Fellow Realtors, you are absolutely the best to work with and hope to do lots more business with you in 2016.

Our business stakeholders held the fort down and kept the dream alive. We are committed to an even better 2016 and to surpassing all expectations.

Our backend support we thank you too, keep up the good work!

Last but not least, my daughters made my life an absolute joy to be in, and for this I would not change a thing.

Dee Vee Realty wishes you and your family a happy holiday season and that 2016 be a even greater year.

A very Merry Christmas & Happy New year!

Thanks to Gods (my father up above) for all the blessings and love.

Praise Jesus

Roxx

https://www.linkedin.com/pulse/seasons-greetings-roxanne-neita-jpChristmas card DVRfinal

Do you really need a Realtor?

ERVALYN WEST-SALMON

Realtor at Dee Vee Realty Ltd.

Do you really need a Realtor?

There are many  persons who feel they can handle a sale or purchase on their own, I agree, you probably can.  However, a realtor is most cases is a wise choice especially considering the value, lead time and complexity of most real estate transactions.

  •  A Realtor or Agent has the required education and experience to guide you through the process.

  •  Your Realtor or Agent has valuable knowledge of the neighborhood or knows where to access the latest info on comparable sales in your area. Your realtor is armed with information such as average price per square foot of similar homes, average days on the market. These and other data emphasize market conditions.

  •  Real estate Agents are professionals in the business. They have access to a network of other Real Estate professionals and can readily recommend lawyers, mortgagors, valuators, structural engineers, surveyors and builders who may become necessary to provide advice and insight to assist you in making wise decisions regarding your purchase or sale.

  •  Real estate Agents are trained to hold client information confidential from competing interests. Your realtor/ agent is bound by his/ her license and law to act in their clients’ best interest (not his or her own).

  •  Unlike most buyers and sellers, he/ she is removed from the emotional aspects of the transaction. Your realtor is trained and has the required negotiation skills.

  •  Referrals are the life blood of the career of a realtor/ agent. This means that doing what’s best for their clients is the emphasis of their career. Your realtor needs your confidence, your approval  and definitely your referrals to remain relevant in the Real Estate business. Hopefully, he or she will be there for you when you need to hire an agent again!

https://www.linkedin.com/pulse/do-you-really-need-realtor-ervalyn-west-salmon?trk=hb_ntf_MEGAPHONE_ARTICLE_POST

THE SEASON FOR GIVING

2014-12-15 08.00.24 2014-12-15 08.03.072014-12-15 08.07.50

Today Immaculate Conception High School received gifts for Christmas, which was presented by Mrs Roxanne Neita of Dee Vee Realty on behalf of American Jewellery Co.  AMJ gave Immaculate Conception High two brand new microwaves to the Immaculate family. It was well received, the students were very appreciated and excited for the gifts.

NOW THAT IS THE GIFT OF GIVING!

If your stocking holder craves the opulence of jewelry and gadgets make the most memorable moments last forever.

FOR MORE GIFTS VISIT: American Jewellery Company Limited, on there Facebook page / Shop #11 Mall Plaza 20 Constant Spring Road Kingston Jamaica.