www.CostaRicaTicas.com

Thanks for the advice. I am not flipping. I am hiring a builder to build it on a mountain view lot that I bought in a town where there are very few homes for Americans. I am going very slow on the first project and am trying to minimize my risk as much as possible.

I've been saying that since the US market cooled the CR market would cool in a big way.... just like the NV market cooled when the CA market cooled. Actually, the NV market crashed due to the CA market's cooling.

A lot of normal people (as opposed to the professional investors) made money from RE in the states and they took that money south. Without the US market cranking, the CR market has to go bust just like the NV market went belly up due to the CA cooling.

I've heard properties are hard to sell in CR - they stay on the market for a long time. An RE agent in Jaco (REMAX, I think) had her home on the market for many months and it was actually fairly priced. If a RE agent who is dealing with a lot of wishful thinkers everyday can't sell in a short period of time, imagine all the rest.

They brag about the condos in Jaco selling, but they aren't sold until the actual close (they aren't even built yet). I have a feeling that the ones they have "sold" are going to be up for grabs, because they are priced according to the go go go days in RE and I have a feeling people will wise up.

The bubble has already busted in CR.

True the retirees will continue to buy, but with the in CR and out of CR every 2 years (70% return to the USA within 2 years), they'll just continually buy and sell the same houses over and over again. 70% of them go back home, right? I don't think the boom in retirees coming to CR is a big as a lot of websites make it out to be either, but I'm a skeptic so who knows.

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You live down here D2864? Because I agree with you 100%. I don't think things are super grim, but I think some people are gonna feel some losses, say in five years. I think Jaco is very close to being topped out. Some of these people must be buying the crack on the streets. Buying $300,000 condos in Jaco? Are they insane? Tick Tock

I live in Northern CA and I have a friend who lives in NV so I can relate to these RE markets. But TW, everytime I go to CR, I've spent time in Jaco investigating the RE market so I'm closer to the Jaco market than anywhere else in CR. I relate the CA-->NV market to the USA-->CR market.

I've not looked lately, but it will be interesting to see what happens to condo prices in Jaco (at Jaco One - that is what it is called, I think). I have a feeling a lot of people put a few thousand down to hold a condo at Jaco One, but a lot of them will eventually back out of the deal since RE has fallen in the USA (people get scared and usually all at the same time). I mean, say people start to back out and then the folks that are still in see available Jaco One condos advertised below what they agreed to pay. YICKS!! Get ready for a revolt!

I think I could do more with my cold hard cash at home than I could in CR.

I'd give RE a good 18 months before buying anything in CR.

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Sorry TW and D2864 but I must respectfully disagree with your assessment on the property in CR going bust. In fact I have become a minority owner in a Hotel,bar and 48 unit condominium project on the beach in Jaco. In fact we are announcing it today on CRT on the Hotels section, because it will be the perfect mongering destination. The slowdown in real estate that you are referring to in Ca and NV took in excess of 20 years to finally happen,and we all know that it will come back because people still want to live there.The market in CR has only been rising in the last 3 years so I'll talk to you in another 17 years. By the way,the Cochal project is sold out and it isn't finished yet. Jaco 1 is already 50% sold out and they haven't even broken ground,so some people disagree with you. I for one certainly hope you are wrong.

That makes TWO of us.....

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You ALWAYS have an option ....... "NEXT" !!!

I think a lot of those condos have been bought in blocks by groups and organizations. I'm not saying it is going to go bust exactly. But more and more people are starting to think that there are much nicer places than Jaco to spend that much money. Jaco was ok to some people when it was a cheaper destination but there are a lot nicer places to live for that kind of money. There is still money to be made, but I'll stick to my prediction. 3-5 years from now when all the projects in the works are completed, I think you will see lots of these condos sitting vacant and the prices coming down instead of up. Just my opinion though.

I hope Jaco and the rest of CR RE maintains value. I'd set on the sidelines until the dust has settled. I think I said 18 months on the sidelines should be enough time for all the hype to settle - not just in CR, but all over the world.

The CA-->NV thing didn't take 20 years. They were building like crazy in Reno/Sparks and Henderson over the last 6 years and suddenly the prices have dropped 30 percent in a year. My friend's GF in Reno is a loan officer and so they have seen it first hand.

I don't like when they say something has SOLD and it hasn't even been built. It really hasn't sold until closing. All those people simply put a down payment on the condo to hold it for themselves (or as TW thinks, a block of condos were sold). Is there anyone crazy enough to put out over 200,000 on something they can't even rent? I don't think so.

It will be interesting to see what happens. I'd be too afraid to do anything except sell RE at the moment.

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And to clarify, I'm talking about Jaco and not all beaches in general.

Well guys in my research for an upcoming future in selling prime Jaco Real Estate, It has come to my attention that one of the Developer out in the area is in a world of S@*t. Is it true that Costa Developers went belly up? I hear they are in debt uo the wazoo and are shutting down. From what I have seen, Its tough to find a good developer that is on the up and up. It hurts me to see such a beautiful and potential goldmine in Jaco have this type of news.

Youdoo...with all due respect...without substantiating who what and where you heard this...your post generally appears as biased flaming of Jaco real estate. It would be more helpful to have particulars when you post something of this nature. Otherwise, it is just hearsay and negetivity. I am not saying this is not possible in Costa Rica or Jaco...because it has happened before in many documented cases. But this add on is controversial...sorry.

Jaco area is scam city for real estate, period.

I know Jaco is probably overpriced in general, and I'm sure there have been dishonest deals...but goddam, whats with all the one liner flame opinons here? Jeesh...

One point in Jacos defense...and WHY prices have risen there faster than other places...is that it is some of the ONLY titled beachfront available in Costa Rica. That means something obviously to some investors.

Again, I am not here defending CR real estate one way or the other...but these short flames from unknowns on this board are just out of bounds.

When it comes to Real Estate in CR, many people don't have a clue about the legalities involved, especially when it comes to "Titled" property, or "Concession" property, or property in the "Maritime Zone", etc. etc....

Plus IMHO, some of these people who come in here (and throw in their quick one-liner flame opinions), either don't understand, or have gotten burned on a shady deal in the past. Or maybe someone they know has gotten burned. Either way, I usually take those comments at face value.

Regardless, to each his own. Ignorance is bliss. Say what you will, but there are still some outstanding deals / investments on CR Real Estate out there, if you're willing to put in some time on the front end, as well as the long term.

If you're looking for a deal on the internet..... fuhgeddaboudit! If you're looking for a deal in one of the newspapers or various publications geared to gringos...... fuhgeddaboudit! Quite often, when it comes to business dealings, it's not "WHAT" you know, but "WHO" you know. As always, YMMV!

If you're serious about any type of short term or long term investment in CR Real Estate, I would suggest that you "get in the trenches and get dirty". You can learn more from the friends and acquaintances that you've made (as well as some of the local Tico's and ex-pat residents) than you can learn from a biased newspaper, or a crooked realtor, or a lawyer on the take, or any internet advertisement that is being viewed by the rest of the world!

To all those who feel the need to bash or flame the real estate offerings in CR...... Have at it! Those opinions don't affect the ongoing appreciation (or residual revenue) of my CR Real Estate holdings whatsoever!

I hope that I didn't offend anyone by this post, as that was not my intent. Matter of fact, the properties that I own are not anywhere near Jaco.

Location, Location, Location !!!!!!

Respectfully,
Mucho Gusto

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You ALWAYS have an option ....... "NEXT" !!!

Mucho Gusto, I think the smart money is going to be moving more and more into your area. The main interest in Jaco is Surfing and mongering and I don't think that is going to be enough to support all these new condos. If you read message boards and listen to tourists you run into, almost nobody has anything good to say about Jaco. And some of it is greatly exagerated. But don't discount the power of the perception portrayed by the forums and guide books. Personally, I don't have any info on any crooked developers. There is a project call Mangos, I think, that has been shut down in Hermosa because it was too close to the ocean. And everything I'm saying is an opinion based on my instincts in the area.