Does all of this sound familiar? The primary focus of the media in the States is the economy coupled with rising gas prices and falling home prices…and to read the articles, we are headed for another “great depression”.
SO....... ”where does that leave the future of investments ( at least thru CR Home ) ?”
It is our contention that the following statements ACCURATELY reflect the current real estate market in Costa Rica ( with specific areas delineated ):
1. We are seeing a quadrupling of demand here in the Central Valley areas of Grecia, Sarchi, Naranjo, and San Ramon. These are retirees or people buying in advance for retirement OR for investment. This is just the beginning of the baby boomers exiting for adventure and lower cost of living. Economics 101 … Many more buyers than sellers.
2. We have not seen as many buyers of beach properties or ocean view properties this year as in the past. But quite honestly , we are not sure if it is because our focus has been overwhelmingly Central Valley OR demand is less. Our inventory is definitely less than in past years as well which could not necessarily indicate a slowdown.
3. Other realtors we know who specialize in the higher end properties for both Tico and Gringo are definitely slowing down. People are , according to them, becoming much more selective.
4. The more popular tourist areas such as Jaco , Quepos, Tamarindo, and others in the Guanacaste area are showing a definite slowdown. Prices have not yet really been affected yet, except where individual circumstances warrant it ( read “liquidation”). buyers here are also becoming more selective. Inventories in these areas are still large and properties are still, in our opinion, grossly overpriced.
5. Remember: a market anywhere is nothing more than a collection of buyers and sellers ( this is in keeping with our well known tenet of KISS or “keep it simple, stupid). There are buyers here from all over the world, literally . Probably 40-50% are American but the others are Canadian, British, French, German, Dutch and smatterings from almost everywhere else ).
6. People are expressing more and more dissatisfaction with the status quo in both America and Canada. They are seeking alternatives. Nearly everyone that visits is more than a little fearful of the status quo in the States now…especially with the elections and media stressing nothing but negatives. “Social security may not be around for long…the dollar is crashing…the balance of payments is horrendous…the war is dragging on forever…the United States has lost her edge…I simply cannot afford to live in the States any longer”. These are complaints we hear weekly. And with the internet becoming a more popular way of conducting business, Costa Rica continues to grow in popularity. The alternatives at this point are primarily Mexico, Nicaragua and Panama and Costa Rica has the reputation of being the “blue chip” of them all.
7. We see discretionary income buyers being more careful. There is probably 90% of the income available this year vs. last year however, buyers are insisting on receiving value for their dollars. And this is an area that CR Home has always stressed. We are receiving more calls and interest than ever before and people are asking more questions…all of which is good and it is what we have always advocated. Those of you who follow our site know that we are always transparent about what “real” building costs are and what properties are really “worth” in the current marketplace.
So…are we fearful that an impending recession will spill over into our business?
“NO…we are too busy handling all of the new business that is walking through the door and calling.”
I receive emails at least twice weekly , usually from persons whose businesses are directly affected by the real estate slowdown in the States, I.e., developers, real estate salesmen or those performing auxiliary services to the real estate industry…telling me how truly awful the state of the economy is in the States. I think probably the overwhelming word used by most is that the economy “sucks”.
I do not dispute that the economy in the States sucks. What I am looking at is directly what is happening here...in Costa Rica. As mentioned above, YES we definitely have spillover into certain areas of Costa Rica’s economy. But the question is “ will the mess in the States and other areas affect Costa Rica the same way?” And I repeat, my answer is “no, not where we are doing business…in fact it is having the reverse affect…for the reasons described above…our business is getting better…not worse.”
We HAVE had a few people change their purchase plans as a result of financial problems in the States….no doubt about it. But most are changing their plans and moving ahead with the move to Costa Rica. And to those of you who think that I am stretching the truth or exaggerating the state of CR Home’s business… I can only say “ come on down and sit in our office for half a day and you will see the true state of our business…some days almost too much to handle.

We can give any of the “naysayers” proof of the above or direct contact with people a lot smarter than I am that are “putting their money where their mouths are.” These people are the proof of what I am writing. I think the other “proof” is that our investments are usually oversubscribed within a few days of publication.
All of the above now being said we offer the following…and these offerings are being made ONLY to our newsletter subscribers:
1. Ventanas San Mateo: our ocean view property…we are offering 3 properties of half an acre each for $65,000...BUT we are offering these for only $25,000 down and the balance to be carried for 5 years, amortized over 10 years. Remember, these lots are still preconstruction but we will be starting first model within the next 45 days. All utilities are included and pads and driveways are already in. Views are phenomenal AND don’t forget that the purchase includes rights to the pool, Jacuzzi , clubhouse AND all of the common area teak. Click here to be taken to a description of the property:
http://www.cr-home.com/ventanas/page1.html
2. We are finally also proceeding with the first home construction of our beach properties in Playa Azul. These homes of 1000 sf, 2 BR, 2 baths, first rate construction ….together with pool and ALL amenities …and only a 275 yard walk to a gorgeous pacific beach …AND 24/7 security…and much more. These homes are being offered at only $174,000 and we are offering only 10 of them in phase one. These properties can be purchased and held for 45 days with a deposit of only $10,000 ( which is fully refundable during that time period )…financing is available…AND if you choose to purchase only the land at present…you have a year to build…( yes, we do the building ) AND the price of the land ( again, with amenities ) is only $55,000. There will be an estimated 22 homes in the development.

If you have ever wanted a secure beach home that is TITLED and is priced below $250,000... This is it! Less than 1 ¼ hour drive from the airport and only 15 minutes north of Jaco. Set in a jungle and within five miles of three of the country’s most expensive developments. These will sell very quickly…remember , there are only ten available and prices then go up. Call or email.
Those of you who do not know…Semana Santa, or Holy Week is much the same as Christmas week here in Costa Rica…virtually everything is shut down. Everyone heads to the beach. We remain open. But still having fun…and taking on new people all the time!.. A welcome to Rowena and Russ!
Pura vida
Randy y Rhonda; Steve y Marzena; Char y Rodrigo, Dolan and Logan; Liffer y Yolanda and their two little ones; Albert; Felix, Johnny, Pedro Coto, Rowena, Russ, and the ever present Woodpecker