“What are you investing in now?”

This is a question I get asked at least twice weekly.   Let me give you all a breakdown as it reflects my own personal viewpoint as well as where I see the real estate market headed in Costa Rica…
…I have holdings in five beach properties, three houses and two lots.  I believe that beach properties will never go out of style and the last four years have seen some of my holdings increase in value as much as 200%.   Of course, those of you who follow my newsletters know that I believe that the ‘subprime crisis” will be marginally affect the more popular tourist beach areas…so I personally am staying away .
…I have several properties in the Central Valley and will  pick up more  periodically if the opportunity presents itself.   I obviously have the advantage of being “johnny on the spot” when someone comes to me and absolutely must sell because of personal reasons…or if I feel that a seller wants to liquidate for financial reasons, oftentimes we are the only game in the area.  We HAVE found that many times local farmers will beat us to the punch as well if prices are at rock bottom.   Most of our properties have appreciated by as much as 100% over the past six months.
…and obviously we have our development land…Las Brisas del Cielo, Ventanas del Pacifico, and Pueblo Escondido.   We own these along with our investors from The Fund.   We believe that there is tremendous upside here as well…and we believe that investors in the properties at the initial stages will do well as they are, all three, one of a kind .

The above being said…we believe that our current areas will continue to do well and we will continue to “cherry pick” specific properties or offer them to our investors.  We also believe at this time that the next several years will see large numbers moving to the northern part of the country… the San Carlos area.

Already large parcels have been purchased and specific areas such as those around the Rio Celeste, one of the “seven wonders of Costa Rica”…have increased in value by over 50% in recent months.   We don’t advocate jumping on the bandwagon by paying exorbitant prices but…we do advocate shopping in areas which will definitely appeal to the coming “boomer generation”…properties which are not only gorgeous in eye appeal, but which contain rivers, stunning vistas, and aesthetic topography…these are superb investments.   Watch our listings section for these types of properties.

Almost all “gringos” who move to Costa Rica want to move into a house which is already built.   Horror stories abound of cost overruns, dishonest contractors and shoddy construction…all lead potential buyers to avoid building at all costs.   So…the solution?  We build spec and model homes for potential buyers.   Those that are willing to pay a premium will have a market.   If any of you wish details, please write as there is definitely a market for these homes as more “boomers” move here. 

We will also be doing more communities near Grecia similar to Las Brisas.  It is becoming more difficult to find land of sizeable acreage and it is becoming more expensive.   We expect to have at least one more community here ( probably of smaller sizes ) within the next year.  Call or email if interested in participation. (those of you who have not yet seen Las Brisas, look here:  www.costarica.com )

We at CR Home have had several significant developments which are affecting us ( and potential buyers ).   We have contracted with a company from San Jose,  www.costarica.com to sell our developments for us.   They have a wealth of experience , not to mention a huge amount of web traffic.   AND, they have already bought to us, as a sign of good faith, two buyers already.   We are looking forward to working with them.  Take a look at their site and look for our las Brisas development.   This agreement will also have the added advantage of freeing us up to do more of what we do best…which is find superb properties at the best possible prices.  

Many of you have been asking ( again and again!…) about Grecia and why we settled here versus “anywhere else”….
….when Rhonda and I moved to Costa Rica we actually had no idea where we wanted to live, having visited only once previously.  And because Rhonda needed to be near a hospital or clinic because of her asthma, we drew a circle around San Jose representing roughly an hour’s drive ( the major hospitals ).  After visiting virtually every possible potential area for our “future home” we ( or rather, Rhonda) fell in love with Grecia.   We were able to obtain the perfect temperature ( at least in our opinion…68-82 F ), proximity to downtown Grecia , a town of 50,000 although the central downtown was appropriate for a much smaller population…GREEN flora, primarily because of the local sugar cane and coffee…a hospital and good professional services of all kinds…good proximity to San Jose, the airport , shopping and restaurants ( 30-50 minute drive )…and best yet…almost all amenities were available in town.   For us, it was the perfect blend of rural and urban…close enough to medical and shopping and yet, far enough away…to be safe and secure.    We were still able to see the tractors hauling coffee through the main streets and into the refineries and even an occasional oxcart on the road!  Family was still the most important factor in everyday life and the children were placed above all else.  

All of these factors plus reasonable prices, friendly people as well as parrots flying overhead daily made Grecia a no-brainer for us!   We ended up here still knowing no one and having no where to live and no connections whatsoever….the next steps of building and even buying property ( five years ago  there were no realtors here and virtually no “gringos” were living in Grecia ) all still undecided.   All that is a story for another time.   Suffice it to say that Grecia has become home for many more Americans and Canadians and has become second only to Atenas in popularity in this area.   Prices are STILL reasonable although climbing quickly and newcomers are now able to get answers to their questions BEFORE buying here. 

Investors…ask for details and potential returns now.  We tailor make almost every investment to suit each investor.  

On to properties…

This is an investors special and truly one of a kind:   almost 11 hectares , or slightly more than 27 acres of land in San Carlos bordering the Rio Celeste ( of of Costa Rica’s seven wonders! ).  The property is flat and has gorgeous mountains views and contains over 400 meters of river frontage ( this is a stunning, large river…and is actually blue in color from the nearby thermal springs ).   Properties in this area in the past six months have doubled and sometimes quadrupled in advance of new hotels already under construction AND a new road already budgeted for by the government.  ( between the area and Liberia ).   This is the only property in the area which has NOT increased substantially in value in the past few months.   This property is near an area called Buenavista and if you need more pictures, just google  Rio Celeste in Costa Rica.  
                                                                                               Priced at only $240,000

One manzana with hugely panoramic views,  about 12 minutes from downtown Grecia…in the mountains.   Private and yet accessible.   Property slopes toward a river and contains not only coffee but large numbers of trees and jungle.  The owner has indicated that he “really “ needs to sell…we think that an offer in the low/mid $30s will take it.   It is a steal.    Call quickly or we will buy it…it is that good. 

5 Hectares  (12 acres minimum ) located high in the mountains overlooking the entire Central Valley…this has generated huge interest but no takers yet.   Several superb building spots with electric and water available very closeby.   Altitude here is close to 5200-5400 feet with reserve and national forest all around.   There are limitations to building here but a single family dwelling is no problem.   This area is unbelievably gorgeous…about 20 minutes from downtown Grecia..      Only $45,000

Smaller home in San Isidro de Grecia…1200 square feet, excellent condition,  older tico home but completely updated.   Fenced in green area with great views toward San Jose and the Central Valley.    If you want a home in great condition and don’t want to overpay…this is it.    Great location and great price                   Asking $65,000 neg.

Still two “fixer uppers” on the pacific beaches.   Ranges from $45-60,000.    These two homes are both within “spitting distance” of gorgeous beaches….macaws, great location and these two homes need virtually nothing.    Huge appreciation potential. 
 
( there are several developments in this area which are strongly impacting prices... please call or email for details... Randy )

Ocean  view property…within five kilometers of the pacific…near Parrita.   Excellent access and utilities closeby.   This property is one manzana ( one and ¾ acres ) and has a small river on the property as well.   This is priced at about half of current market prices…   

 no picture at present...pending         Only $42,500.

One quarter acre of the “best view ever” in Grecia…in the mountains …360 degree view…good access and only 10 minutes from downtown.                Only $22,500

Keep watching our listings section as we are working hard to increase our listings for high season.   We have had many more buyers here than normal in the past month and our property inventory is low.    We will also have many more in the San Carlos area within the coming weeks.   So, keep checking in .  

We are also starting to increase our advertising  (check in www.suddenlysenior.com ) as well as the airline magazine from Continental  ( October issue).  We anticipate much more traffic.   Those of you who are visiting…watch for our signs on the way into town.

More news on a personal level......

…  Rhonda is having arthroscopic surgery on her knee…everyone else is healthy.
…  Dolan , our grandson, ( age 2 ½ ) is starting day care.
…  our house is nearing completion ( see our website:  www.cr-home.com )…Steve and Marzena have started theirs. 
…  Woodpecker is still sober and still living with the same woman and his baby!    …a minor miracle.
…  Steve and Marzena’s house was hit by lightning…keep in mind that lightning rods are almost a necessity in the mountains. 
 … Costa Rica’s independence day is September 15 and flags are already displayed and fireworks have already started ( at 5 in the morning, no less! )
…  Rainy season has allowed all of us to slow down a bit…with trips already done to San Carlos,  Arenal, Sarapiqui , and Guanacaste.   Other trips are being planned as well.   We are also able to spend a little more time exploring new restaurants and have come up with some outstanding recommendations.   Ask if interested. 

Also… we are able to offer a new version of title insurance on new properties which is far superior to ANYTHING out there and at less cost.   It covers not only total reimbursement but also legal fees incurred.   

We sign off again…4 in the afternoon and it is raining.
Hasta luego and Buena suerte…
Randy , Rhonda, Rodrigo, Charlotte, Dolan and Logan,  Steve and Marzena , Liffer and Yolanda and their two little ones, and of course…the ever present Woodpecker and his brood.