St. Maarten Private Eye

You are right about the Florida market, I have a condo in Ft Lauderdale, and am losing big time!!!! I am hitting the 30% discount shortly,

Regarding SXM: the key is financing people, just take a look at the projects in Anguilla, that are being built with lightning speed: they have financing in place, which is independent from buyer's money
The list:

1) Indigo Bay: Big chance it is going to fail, no financing for buyer's and for building the resort available. Shady background of the developers and the real estate agents:

2) Rainbow Beach Club: Many current owners want to sell their units ASAP, as they seeing the negative spiral this resort is facing, moving into timeshare, the 'family' that owns it is using 'guerilla management', because of their lack of education and allowing self critique or third parties to help improve their business plans. Strapped for cash, in real trouble right now. The move to timeshare is a panic move

3) Cupecoy Yacht Club: The only current development that might see investment on return, because there is a brand behind it. Current management under the auspice of Mr Bernard Sarm is questionable and he reportedly has many island officials and residents in his pocket.

4) Westin Resort: well, it is now just waiting when the brand is going to decide to pull out:

5) Barbaron Project: One of the partners in this project is Gibson Sr.. The other partners in this project are strapped for cash, so is Mr. Gibson Sr, as his 'active' days are over, his extra funds have shrunk significantly, he is unwilling to touch his off-shore retirement millions so this project is just waiting for buyers to bring in money; again a waiting game, in addition, you have the Italian ego maniac Carchidi running the show and doing the designing.

6) The Cove at Cupecoy: The Tendal website shows it is for sale, the land that is, need I say more?

Wait I see a pattern,
Yes the market is to blame, credit lines are tight,
but you have the problem that all these developers have huge ego's, they will never change their approach and do not allow critique,
so they are running to the same canyon to meet their end.

Eric
Ft. Lauderdale