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Real Estate Question
https://forum.costaricaticas.com/viewtopic.php?f=1&t=13472		 Page 1 of 2
Author:  BondTrader [ Thu Sep 14, 2006 7:32 pm ]
Post subject:  Real Estate Question
With the slowdown in the U.S. residential real estate market that's been going on recently, has anyone noticed any impact to the Costa Rican real estate market during the last 6 to 8 months or so or is it still a "hot" mkarket. Thx.
Author:  D2864 [ Thu Sep 14, 2006 8:39 pm ]
Post subject: 
It is likely, but it is hard to tell. They haven't very good recording and reporting systems as to the number of sales.

You'll get a lot of opinions here and on other sites. Whatever anyone says, it would be hard to back it up with facts.

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Author:  Diablo [ Thu Sep 14, 2006 9:42 pm ]
Post subject: 
I have got to agree with D2, looking at other boards, the realtors say that CR is booming and won't quit.....but we all know when they are lying, their lips are.... I backed out of two foreclosures locally in March, good deals, but when could you turn them? Michigan, as well as many other areas of the US are experiencing big, big slow downs, with record numbers of foreclosures.
I just finished turning one in January, and my guess is that I won't be re-entering here for awhile. It will be interesting to see how Tamarindo, Jaco, etc play out in CR, since there is European and S. American input. All I know is that I would be nervous sitting on a big second mortgage on vacation property based in CR. Maybe things will get an uplift from falling oil prices. Time will tell.
Author:  Bilko [ Fri Sep 15, 2006 3:24 pm ]
Post subject: 
One of the problems here is that the market and general conditions are chaotic and anarchial. To be a real estate agent here simply requires that you say you are one. There is nothing like a MLS here. Determining something as simple as who actually owns some property can be a major headache, and don't EVEN get me started on concession property...

So given the lack of any kind of objective measure, you end up just asking the self proclaimed real estate agents. As was said before, if their lips are moving...

Personally, I hope prices here get down to somewhere reasonable. I don't want a mansion on the beach, just a nice little quinta in the hills. But prices are high if you search the internet. From hearsay and my own limited experience, if you want a bargain you need a Tico to help you find another Tico who has something you like for sale, have him negotiate and don't let them know a gringo is involved until the last minute.
Author:  Ticoyo1965 [ Fri Sep 15, 2006 5:47 pm ]
Post subject:  hahaha. my lips are moving!
Hi ya all,

Well you can find a great bargin in CR if you look at places like San Ramon! I had just seen some great proptery that you can build a home with lot, electricity and water for 160,000. These lots have views of the Pacific ocean and are only 30 min from Punta Ranus. They are at 2000 or more elevation so you don't burn off your balls in the heat.

I do home buyers seminars in the states for people that want to buy homes in Costa Rica. Since my wife is a tica and we have connections with the locals we do get better prices than if a gringo tried to speak broken spanish. Not only that but if they know a gringo is looking at their property they will boost up the value. Last trip that we were there my wifes cousin comes to us and tell us about this property in the north west side in the gringo land! Big story but they want us to help sell it to some gringos. These people think if they sell it for 5 million that will be a good deal. Now is it worth 5 million? We will find out!

What I am finding out is many people are looking to retire in CR and this is the next wave of people not the investors or the speculators. The big wave will be people under 200,000.

Hope that helps, this is only a opinion that I See. :roll:
Author:  LVSteve [ Sun Sep 17, 2006 9:37 am ]
Post subject: 
When I bought my place a year ago for half of what Ticoyo quoted, I was a gringo who spoke broken Splanglish. Recently, a buddy bought a bigger, nicer place with a drop dead view for way less than the 160,000 quoted here.
You don't have to go way out to San Ramon. There are bargins to be found right here in the westen suburbs of San Jose. All ya have to do is look. It ain't that hard.
LVSteve
Author:  Californicationdude [ Sun Sep 17, 2006 12:46 pm ]
Post subject: 
LVSteve, thanks for all your comments on living in CR.

I am curious, do any of the CRT members, or other expats, live in Tico style neighborhoods?

For instance, are the majority of the residents in your neighborhood/project north americans?

Or is it a mix of upper class Tico families and north americans/europeans?

I was just wondering as I have visited a few Tico neighborhoods where the residents were, in my opinion, middle class Tico families.

I found these neighborhoods to be generally clean and safe with prices for modest row homes starting, at what I was told, at less than $20K US on up.

I understand you generally get what you pay for in this world.
Author:  Bilko [ Sun Sep 17, 2006 2:53 pm ]
Post subject: 
Californicationdude wrote:
I understand you generally get what you pay for in this world.


I would say around here that you pay for what you think you need.

There are lots of decent inexpensive places to be had, but they won't be exactly what you are used to back in the States. You won't find piped hot water in inexpensive houses. You won't find dishwashers. You won't find 220 power. No electric garage openers. The rooms may not be as big as you like.

There are lots of nice neighborhoods and affordable houses if you want to live in town. But if you want everything you had back home, you won't pay much less than you would in Texas. On the other hand, at least you won't be living in Texas.
Author:  D2864 [ Sun Sep 17, 2006 11:44 pm ]
Post subject: 
Price also depends on if you live in a condo, row house, or a house. You can get very very nice condos for less than 80K. Your neighbors will be Ticos ini mass. There are Americans in CR, but it isn't as if you see them a lot when you are outside of the Gulch. Shot, when you are outside of the Gulch, it isn't easy finding someone that speaks more than 10 words of English. I find that the American invasion isn't as huge as many websites make it out to be, but ID and VB and LVsteve can speak more accurately to this than me (I have some experience outside of the Gulch, but it is far more limited than these guys).

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Author:  LVSteve [ Mon Sep 18, 2006 10:03 am ]
Post subject: 
Cali...dude;
Ok, I have to admit that I do live in a high rise condo project but it's not in Escazu, so the composition is like 75% up scale Tico, 20% European and 5% Gringo.
To find what you are looking for (A 20 to 40K Tico house), check out Tibas, Guadalupe, Sabinilla, Desemperados, Cartago or Colon. You can find a small Tico house in a middle class Tico neighborhood that is quite safe. Learn Spanish and become part of the neighborhood.
Personally, I like being a little closer to the action of San Jose when I feel the need.
LVSteve
Author:  El Tranquilo [ Mon Sep 18, 2006 2:13 pm ]
Post subject: 
I've lived in Llorente de Tibas for the last five years. The neighborhood is 98% tico and I have always been very comfortable. It is one of the safest barrios in metropolitan San Jose. Most of my neighbors are small business owners, mid-level government workers and an occasional professional (no not that kind!!! ...although I think there is one super-hot DR retiree living down the block).

I have one of the nicer houses in the area and it is a real bargain.
(LVSteve sublet it from me when he first moved down here and I think he would agree).
It actually is much closer to the gultch than Escazu, on the other hand there is very little in terms of restaurants or shopping here.
The cost of renting and/or buying my house would be maybe 150% higher in Escazu.

That being said, I doubt that there are many $20k houses available in what most of us would consider an attractive tico neighborhood (i.e., middle class, but not wealthy, by CR standards).

Most of the properties around here go for between $40k and $75k--with a few in the $100-200k range.
Author:  Californicationdude [ Mon Sep 18, 2006 2:34 pm ]
Post subject: 
yes, certainly the neighborhoods I spoke of were at best lower to the center of middle class Tico style neighborhoods.

and they were row houses with very modest kitchens, room sizes, no hot water etc....

still, even double their qouted market value, a range of 40K to 75K (and up) for a larger, better improved home in a nicer Tico neighborhood sounds reasonable.

I like the area around the SL, but have heard qoutes of at around 75K for a modest 2/1 condo.

I did speak with one gringo investor that purchased a larger detached , multi story building in the SL area with his Tico partner for around 200K year last. But he said it really needed a lot of renovation.

I guess one truth holds steady in the world of real estate, location, location, location.
Author:  Ticoyo1965 [ Mon Sep 18, 2006 7:48 pm ]
Post subject:  Sorry I don't know if you understood that was with the house
jajajaja. the lot and the house with electrisity and views of the pacific ocean. with about 2 acres of land. Can be built for 160,000 or under.

I do live in a Tico neighbor hood and feel really safe! Of course we do have a rotriler! :lol:

I don't know why people have such a judgement about tico homes? Do you think that Ticos want to live some place that is not safe?

Ares is a two bedroom with one bath about 1,000 feet and a laudry room. We have a 2 car patio garage with a running area for the Dogs. Five years ago it cost about 40,000 to build. We have a huge national park behind us so we are tucked at the bottem of a mountain.

We walk in the neighbor hood at night and feel really safe!
Author:  LVSteve [ Tue Sep 19, 2006 8:06 am ]
Post subject: 
Pelo De Gato: Try the Chinese place next to "Super Batteries" for good food.
Ticoyo: I don't believe anyone here is knocking Tico neighborhoods. Cali....dude wants to live in one and Pelo De Gato and I do live in one.
LVSteve
Author:  Youdoo2 [ Tue Sep 19, 2006 8:23 pm ]
Post subject: 
I just recently started working in real estate here in CR and the one thing i have noticed and what is needed here in CR is a market guide line like an mls. I am still in shock of what i have seen for sale in Escazu for 1 million dollars. I dont see anywhere in CR where property can reach and exceed this amount. There are a lot of well priced properties in this area but one must look very carefully. Plus I dont understand why we always tend to compare everything to the states. Real Estate is and will keep blowing up in CR because the Americans arent the only ones buying! Canadians, Europeans, South Americans, and Middle Easterners are also investing here. Jaco Beach for instance has a lot of European and Canadians. With all the condos up and soon to be up, its a buyers market.
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