May Newsletter

Many thanks to those of you who wrote in commenting on my ramblings in the last newsletter.   Only one negative and even that was not TOO bad.   Thank you.
( to those of you who haven’t read it…go to the index on the front page of our site…
www.cr-home.com)

The one question that seems to be on almost everyone’s mind: 
“is the lousy ( putting it mildly , in most cases ) real estate market in the States affecting the market in Costa Rica?”

The best answer I can give is by way of illustration:  in Grecia, Sarchi and into San Ramon there is really a limited amount of real estate that is for sale…and because there is no regulated real estate system of MLS it more or less operates on rumor and word of mouth.   In Grecia, most buyers of real estate tend to congregate in the mountains…because of the views and the temperatures.   In the last three years values have doubled and , in some cases, tripled in these areas.   Why?   Well, it is not necessarily the result of a huge influx of buyers, although the buying is steady…it is more a case of ONE buyer who does not know values, OVERpaying dramatically for a piece of land.   When that happens, because of the nature of the market…everyone thinks that they should be able to get the same price.  And remember… a little buying here goes a long way toward creating upward pressure on the markets.   And…because of the continuing streams of baby boomers, the pressure will definitely continue.

In areas where there are more vacation homes ( Guanacaste or Jaco or Quepos ) there is an oversupply and values will fluctuate and perhaps even drop slightly …but there will not be a huge drop simply because the buying is worldwide rather than concentrated solely from Canada or the States.   The pressure may also come from internal as some developers may be squeezed on other projects stateside as well.   But the best words of advice here are…be careful of the areas you choose.   Another key factor supporting prices is the recent advent of financing finally becoming available in Costa Rica…this opens up a whole new group of buyers who could not afford to pay cash before.

As always…be careful and do your homework before buying…

Two items for attention…
Our gated area in Grecia which has been featured in past newsletters is finally coming on stream …drainage is in and we are in process of laying underground cable for electric and power… the road is in and lots are now clearly marked…we have gotten excellent response from advertising and two lots are now committed for.   For those of you who do not remember, you can see pictures and further description here…
If any of you wish further info about the best value in a gated area in the entire Central Valley, please drop us a line or call.  These properties are significantly below market price.   We acquired the land at foreclosure pricing and are passing the savings on.  Honest.

San Mateo…construction will begin in approximately one month.   We are currently offering six cabinas and land at preconstruction prices…land is plotted and ready to sell …preconstruction prices are $99,900.  You can see complete descriptions here of the property together with the teak production which is included in the price.   This is a phenomenal value.   We also have three larger pieces of land which are for sale  at presale prices …without homes…these will also include access to the clubhouse and pool.   This property is drop dead gorgeous and contains everything that almost everyone thinks of when they think of Costa Rica… ocean views, mountains, tropical forest and jungle, monkeys and wildlife, literally hundreds of species of birds, and of course…very close access to several GREAT beaches and the pacific ocean.  Those of you that know International Living either love them or hate them ( they are the largest online marketer of international real estate ) but cannot deny that they do have clout.  We are on their tour list in November and expect significant publicity and buying from them.  
These casitas and properties too are priced below market…especially with the presale pricing. Buy for vacation or for investment or both.   Please call if you have interest.

Properties of interest and investment:

Three manzanas ( 7 acres ) in Grecia, about 200 meters off of a main road ; planted in coffee and sloping toward a river ;  great valley and Central Valley views,  huge amount of jungle near the river…complete with waterfall  …   This is a great buy and/or investment at only  $65,000.  Those of you who were shut out before …hurry!   You know who you are…

We have a party who has started construction on a cabina ( similar to the one you see on the front page of our http://www.cr-home.com ) on half an acre…panoramic views of the Central Valley , volcanoes and mountains…who is now unable to move here…he has authorized to sell for “around $80,000” when completed.    this is almost turnkey and a fantastic value.

The “higueron” property , only 200 yards from the pacific ocean is STILL for sale.   Large lot of well over 1000 meters, huge old higueron tree on the property, home needs work but well worth the renovation.    Ask us for details and costs of rehab…and what resale might be.   This is a steal at only $32,000...15 minutes north of Jaco.

8 manzanas near San Mateo; up in the mountains with gorgeous ocean and mountain views…directly off a public road…unheard of price…only  $40,000 Photo not avalable Yet

One or two manzanas ( a manzana is 1 ¾ acres ) directly off of a public road in the mountains overlooking Grecia.   Great valley views and huge numbers of trees.  Quietly becoming one of the most popular areas and ridges in Grecia.   Compares directly with property costing over twice as much.    Lower manzana has a gorgeous waterfall.    Each manzana : $28,000.

These are all properties which are great for building a retirement or vacation home.   They are all priced significantly below market value…but don’t take our word for it…come and see…and do your homework!   But don’t wait too long.

Other gossip of note:  Jeff Fischer has decided not to work with us at CR Home any longer.    He prefers to concentrate more on more traditional and stateside investments  with his own clientele.  We part friends.    We will miss Jeff although we will probably be seeing more of him in the future instead of less.   We are simply going our own separate ways.

Our house construction is going well.  See it here…. We anticipate moving in in August.

Babies are all well, Rodrigo and Char are recovering although recovery for them will be a twenty year process!   Another one of our scouts, Liffer Ledezma, is the proud father of a six pound baby girl.   His wife, Yolanda delivered Wednesday by Caesarean.   It is their second.

We will in all likelihood have two or three new sales people in the next few months.   We are growing by leaps and bounds and the detail work is bogging us down.   Thank goodness for understanding spouses.  Hanz Lepik has joined us as a combination sales person AND organizational guru… we call him our company Nazi.   Already we cannot do without him .    He and his wife Denise have moved here from Texas and are in the process of building a home in Grecia.  His presence is HIGHLY welcomed. 

It is definitely rainy season.   Many of you have read of the reports of the “rolling blackouts” and the problems with the country’s only electric company.    Well, naturally , we went and purchased a generator so that we would not have downtime…and of course, then the country’s problems were reportedly over.    Ah, Costa Rica. 

Do not be afraid to ask your questions.   It would have been a lot simpler for Rhonda and I if we had had people to seek advice from when we first moved here.  We were lucky…others have not been so fortunate.   We do our best to answer all emails and return all calls…but remember, sometimes it is difficult as emails sometimes get lost ( especially with only one “middling” ISP in Costa Rica ) and telephone calls sometimes are difficult to arrange.   Please, please keep trying.   We really do do our best, but sometimes are unable , or at least appear unable, to answer everyone.    BE PERSISTENT.   Please.

Hasta luego from all of us…
Randy and Rhonda, Steve and Marzena, Rodrigo and Char , Dolan and Logan, Hanz and Denise and of course, the ever present “woodpecker”

Oh, one last note…many of you may remember that Rodrigo managed to smash my car into a front end loader on his way to the hospital for Logan’s birth…managing to almost rip off the fender and front bumper…well, Woodpecker twisted arms and the entire tab for the fiasco …bodywork , paint and all…. Only $80!    Beat that, Maaco!!