I feel as if I must type quietly....as if the sound of the buttons on my computer will wake up one of the precious ones sleeping nearby.
It's 500am here in Costa Rica, on Saturday September 5th...As I sit at the barstool sipping my coffee as is customary for me every day, my newborn (3 week old this morning) daughter Samantha is resting in one of the greatest inventions in modern day, the baby papason chair. I only wish the grown up version also vibrated and had such calming music.
In the other room, my wife, whose birthday is today, and my near 5 yr old daughter Maya are still resting.
What has become customary to me, the morning coffee and lightning work ritual before the crew arises, allows me a unique time to work, but also to reflect on the silince that is so rare in a household with two young children. Silence can be so calming, but at the same time, so cautionary (sp, word?>)....The mere silence reminds me of how quickly this will change to livelihood any moment, when one of the ladies in the house starts to stir...
Well, enough morning philosophy, cleary this coffee has not taken its affect.
Back to work....Plugging away on some interesting deals right now, so back to the drawing board.
Saturday, September 5, 2009
Friday, September 4, 2009
Perception
Interesting, in today's market, the first question that I get now from buyer's is always regards to how the market is behaving. Loaded question of course, but the answer is transparent in my opinion, but often times, a buyer in today's market looks for security to know they are buying at the right time.
In the market here in the Central Valley, both commercial and residential real estate are on the rise again, but it is interesting to see how both buyers and sellers seek to confirm their perception, to ensure their timing is right. The sellers, well, they hope to confirm that the market is on the rise so that they can either move their property, or move their price :)
Buyers, well, they want to know that the market is moving in a positive direction, but not too fast so that they did not miss the chance to buy at the best price.
The good news for the market in general, both on buyers and sellers side, is that the perception of current economic conditions and how they will affect us has changed dramatically. People have now decided that they must continue living, making decisions, investing, and buying that first, second or third home, or opening up that next office space to continue to expand their business.
In the market here in the Central Valley, both commercial and residential real estate are on the rise again, but it is interesting to see how both buyers and sellers seek to confirm their perception, to ensure their timing is right. The sellers, well, they hope to confirm that the market is on the rise so that they can either move their property, or move their price :)
Buyers, well, they want to know that the market is moving in a positive direction, but not too fast so that they did not miss the chance to buy at the best price.
The good news for the market in general, both on buyers and sellers side, is that the perception of current economic conditions and how they will affect us has changed dramatically. People have now decided that they must continue living, making decisions, investing, and buying that first, second or third home, or opening up that next office space to continue to expand their business.
Wednesday, August 26, 2009
The Synergy of Manuel Antonio…..
A ray of hope and a story of success in a real estate market which has been marred by dropping values and stagnancy. Manuel Antonio, Costa Rica, arguably the most beautiful and complete destination in all of Costa Rica, is in the midst of redefining itself as the premier coastal destination in all of Costa Rica combining the best in luxury, infrastructure, services and amenities, with an authenticity which an increasing number of international investors are seeking.
Manuel Antonio, located on Costa Rica’s central Pacific coast currently has several synergetic forces converging which are driving continued real estate sales and development during the most challenging of economic times. The construction of the Marina Pez Vela, a 300 plus slip full service Marina is nearing completion of its first phase and will be the finest boating facility in Central America. The area is the home to the world’s best sportfishing, with flat water year round and some of the finest bill fishing waters on the planet. Marina Pez Vela will boast the nation’s first full service boat yard facility catering to private yachtsmen and charter boats and will also include an extensive commercial area with boutique shops, restaurants and services. While the Marina charges towards completion with the first slips being set to open in late 2009, the Costa Rican Government is also making huge advances in the construction of a new highway linking San Jose and the principal international airport with the central Pacific coast and the completion of the Costanera Sur linking Manuel Antonio with the untouched beauty of the southern zone. These major infrastructural improvements make this area even more accessible for tourists who can opt for a much shorter drive or one of the many 20 minute commuter flights to the region. Finally, Manuel Antonio is seeing the completion of its first two condominium projects and the ground breaking of the first branded resort in this region, the Jade Condo Resort Residences and Beach Club. This project, offering a 190 unit condo hotel, plus 50 luxury residence condos and a world class beach club, will be an inconic figure on the Central Pacific coast. The active investments of Jade, Marina Pez Vela and the nearly completed condo projects in the area represent a capital investment in the area of superior to $100,000,000 which combined with the tens of millions which the government is spending on area infrastructure make for a dynamic future.
Though no one and no market is immune to the global economic slowdown, like many of the best businesses in the world, Manuel Antonio is investing in its future and building the foundation for it to continue to flourish into Central America’s most sought after destination. There are fantastic opportunities in the area for those with the vision and desire to revel in the beauty of Costa Rica, within a real community fusing luxury with authenticity, and an investment environment poised to be a leader in the future of Costa Rica.
A ray of hope and a story of success in a real estate market which has been marred by dropping values and stagnancy. Manuel Antonio, Costa Rica, arguably the most beautiful and complete destination in all of Costa Rica, is in the midst of redefining itself as the premier coastal destination in all of Costa Rica combining the best in luxury, infrastructure, services and amenities, with an authenticity which an increasing number of international investors are seeking.
Manuel Antonio, located on Costa Rica’s central Pacific coast currently has several synergetic forces converging which are driving continued real estate sales and development during the most challenging of economic times. The construction of the Marina Pez Vela, a 300 plus slip full service Marina is nearing completion of its first phase and will be the finest boating facility in Central America. The area is the home to the world’s best sportfishing, with flat water year round and some of the finest bill fishing waters on the planet. Marina Pez Vela will boast the nation’s first full service boat yard facility catering to private yachtsmen and charter boats and will also include an extensive commercial area with boutique shops, restaurants and services. While the Marina charges towards completion with the first slips being set to open in late 2009, the Costa Rican Government is also making huge advances in the construction of a new highway linking San Jose and the principal international airport with the central Pacific coast and the completion of the Costanera Sur linking Manuel Antonio with the untouched beauty of the southern zone. These major infrastructural improvements make this area even more accessible for tourists who can opt for a much shorter drive or one of the many 20 minute commuter flights to the region. Finally, Manuel Antonio is seeing the completion of its first two condominium projects and the ground breaking of the first branded resort in this region, the Jade Condo Resort Residences and Beach Club. This project, offering a 190 unit condo hotel, plus 50 luxury residence condos and a world class beach club, will be an inconic figure on the Central Pacific coast. The active investments of Jade, Marina Pez Vela and the nearly completed condo projects in the area represent a capital investment in the area of superior to $100,000,000 which combined with the tens of millions which the government is spending on area infrastructure make for a dynamic future.
Though no one and no market is immune to the global economic slowdown, like many of the best businesses in the world, Manuel Antonio is investing in its future and building the foundation for it to continue to flourish into Central America’s most sought after destination. There are fantastic opportunities in the area for those with the vision and desire to revel in the beauty of Costa Rica, within a real community fusing luxury with authenticity, and an investment environment poised to be a leader in the future of Costa Rica.
Tuesday, July 14, 2009
the happiest nation
Well, by now I am sure you have all heard about the story. Not sure whether it was CNN or MSNBC, but the report was clear: Costa Rica just earned the number one spot on the Happy Planet Index.
That makes me feel better. After nearly 12 years of living in Costa Rica, someone worthy of a CNN report has justified my decision to be in Costa Rica. I was seriously doubting my life for a while there, but it all makes sense now. You can certainly understand my confusion I am sure... First and foremost, although I met my wife and have a beautiful daughter and one on the way, I was still not convinced that one could be happy down here.... With a successful and growing business, I was not convinced that happiness could be achieved. With a lifestyle hard to achieve in most parts of the world, I was still not sure about the place that I call home.
But, here comes a report on CNN. I can finally sleep at night. I can finally wake up in the morning with an ear to ear grin. And it has nothing to do with the gorgeous backdrop, the tropical weather, the laid back lifestyle, my lovely family...it is all thanks to our good friends at the Happy Planet Index, who I now cordially invite to my real estate office, where I ensure we can make them even happier :)
That makes me feel better. After nearly 12 years of living in Costa Rica, someone worthy of a CNN report has justified my decision to be in Costa Rica. I was seriously doubting my life for a while there, but it all makes sense now. You can certainly understand my confusion I am sure... First and foremost, although I met my wife and have a beautiful daughter and one on the way, I was still not convinced that one could be happy down here.... With a successful and growing business, I was not convinced that happiness could be achieved. With a lifestyle hard to achieve in most parts of the world, I was still not sure about the place that I call home.
But, here comes a report on CNN. I can finally sleep at night. I can finally wake up in the morning with an ear to ear grin. And it has nothing to do with the gorgeous backdrop, the tropical weather, the laid back lifestyle, my lovely family...it is all thanks to our good friends at the Happy Planet Index, who I now cordially invite to my real estate office, where I ensure we can make them even happier :)
Tuesday, July 7, 2009
This one Makes a Fire look Cold
Well, all of us abuse the term...Fire Sale. A term too often used by agents and sellers to pawn anything that has been reduced from an already overpriced property back to a realistic level.
Not this one. A hectare of land, at the peak of the mountain in Escazu, offering dizzying panoramic views of the entire city, central valley and surrounding mountains...A breathtaking estate, private entrance, surrounded by coffee plantations, 600 sq meters of construction including a master suite designed main home, a guest quarters, employee's quarters, plenty of room for expansion....
JUST REDUCED From $1,050,000 to $525,000! Yes, and there is nothing wrong with it....Buy now, remodel, hold, move in, no way to go wrong on this one...
Check it out:
http://www.2costaricarealestate.com/San_Jose/Central_Valley/Homes/Escazu/Escazu/Agent/Listing_696861.html
Not this one. A hectare of land, at the peak of the mountain in Escazu, offering dizzying panoramic views of the entire city, central valley and surrounding mountains...A breathtaking estate, private entrance, surrounded by coffee plantations, 600 sq meters of construction including a master suite designed main home, a guest quarters, employee's quarters, plenty of room for expansion....
JUST REDUCED From $1,050,000 to $525,000! Yes, and there is nothing wrong with it....Buy now, remodel, hold, move in, no way to go wrong on this one...
Check it out:
http://www.2costaricarealestate.com/San_Jose/Central_Valley/Homes/Escazu/Escazu/Agent/Listing_696861.html
Monday, July 6, 2009
Psychology of Buying Real Estate
In these unique times as some markets drop, other show signs of increased value and therefore start to show signs of stability, I have been forced to watch an entirely new side of my clients...Their heads. Yes, it is is tough to look in there, but it seems like people are now wearing their neurons on their sleeves, and although thoughts, logic, and decision making are always the key factor in making smart real estate decisions, this aspect is being taken to an entirely different level.
In our office, we deal with a wide variety of clients from residential buyers, commercial developers, transnational businesses, retirees, speculative investors and every other category that you can imagine. In today's market, each one's analysis of the market, in conjunction with the education and insight of our team of professionals, has become more intriguing.
With our international buyers, no one wants to be guilty of buying the wrong property, at the wrong time in the wrong place...the brunt of the dinner jokes, the cocktail party, the business meeting or the guys' night out. At the same time, with opportunities that have risen from the challenging market, no one, either, wants to miss that deal....You know the one...the one that everyone looks back on and says, yeah that was a no brainer. I wish I would have done that. Man, he's so lucky, he picked that up for a song....Of course he's happy, he got a great deal and bought that in yesterday's market...
Well, you gotta make a move, to make a buck. I know, easier said from the real estate broker, than the one forking out the money. The true success in real estate comes from buyers who find a broker or agent that they can really trust. A PROFESSIONAL in any business, is the best company that you can find. Many people erroneously believe that by digging on their own, they will somehow gain the insight and knowledge that a real estate professional has learned both in their studies, and in their extensive experience. A real broker/agent should take the time to truly understand your investment criteria, before "selling" you anything. Finding the right trusted advisor can make or break your investment, and the right one, can cut through weeks and months of research, and take your investment goals and turn them into a reality.
For the clients who are out in the market place today, if you do not have the trust and confidence in your agent to tell him your realistic goals, realistic expectations, budget parameters, then you are probably not working with the one that is best for you. Once you feel that level of trust, know that your agent works for you and that you should find comfort in knowing that when he brings that opportunity to you, along with your own analysis, you want to pay attention as those true opportunities may not come back around.
I know these are not easy decisions. They require time, patience, care and often times, life savings. A professional will understand this, and will guide you through the process, and seek out the property that not only fits your criteria, but falls into your timeline so that you can buy the rihgt property, in the right place, at the right time.
In our office, we deal with a wide variety of clients from residential buyers, commercial developers, transnational businesses, retirees, speculative investors and every other category that you can imagine. In today's market, each one's analysis of the market, in conjunction with the education and insight of our team of professionals, has become more intriguing.
With our international buyers, no one wants to be guilty of buying the wrong property, at the wrong time in the wrong place...the brunt of the dinner jokes, the cocktail party, the business meeting or the guys' night out. At the same time, with opportunities that have risen from the challenging market, no one, either, wants to miss that deal....You know the one...the one that everyone looks back on and says, yeah that was a no brainer. I wish I would have done that. Man, he's so lucky, he picked that up for a song....Of course he's happy, he got a great deal and bought that in yesterday's market...
Well, you gotta make a move, to make a buck. I know, easier said from the real estate broker, than the one forking out the money. The true success in real estate comes from buyers who find a broker or agent that they can really trust. A PROFESSIONAL in any business, is the best company that you can find. Many people erroneously believe that by digging on their own, they will somehow gain the insight and knowledge that a real estate professional has learned both in their studies, and in their extensive experience. A real broker/agent should take the time to truly understand your investment criteria, before "selling" you anything. Finding the right trusted advisor can make or break your investment, and the right one, can cut through weeks and months of research, and take your investment goals and turn them into a reality.
For the clients who are out in the market place today, if you do not have the trust and confidence in your agent to tell him your realistic goals, realistic expectations, budget parameters, then you are probably not working with the one that is best for you. Once you feel that level of trust, know that your agent works for you and that you should find comfort in knowing that when he brings that opportunity to you, along with your own analysis, you want to pay attention as those true opportunities may not come back around.
I know these are not easy decisions. They require time, patience, care and often times, life savings. A professional will understand this, and will guide you through the process, and seek out the property that not only fits your criteria, but falls into your timeline so that you can buy the rihgt property, in the right place, at the right time.
Thursday, May 21, 2009
As opposed to hiding behind the curtain, I prefer to come out and discuss it. Yes, the current global economic situation has an effect on the real estate market in Costa Rica. However, it is important to understand clearly what those effects are, and whether or not that will affect your personal, or investment goals.Although I am not one for cliches, there is much truth in the overused statement that crisis breeds opportunity. UNLIKE many places in the US, Costa Rica is not experiencing across the board price drops, nor are we suffering from a saturation of unmet bank committments, short sales and foreclosures. One of the biggest advantages of the Costa Rican market today, is its overall stability due to historic sales being cash, as opposed to leveraged. This has allowed banks in Costa Rica to keep their balance sheets on the positive side, and likewise, allowed for the market to maintain stability.The coastal market is most directly affected as the bulk of its buyer's have historically been foriegn investors, either looking for their place in the sun, or simply looking for a solid investment. Lucky for Costa Rica, both of those still exist down here...the sun, and solid investments. During the rush in Costa Rica over the past years, many developers were able to be successful selling products which in a slower market, would have never made it to the marketplace. Vacationers became investors as their dream to take part in this paradise, took them to a level that they may have never dreamed of entering.In today's market, savvy investors and retirees are looking for secure places to place their money, and are being more selective, more intellgent and more demanding of the products and developments that they seek. That is not a negative. This is part of the natural correction which allows buyers and sellers alike a more confident time in the market. Developers who do not believe in what they are doing will no longer take those risks, therefore, buyers will have a higher quality product to choose from. Developers and sellers, although unlike the states are not dropping market prices drastically, they are becoming creative, and offering the buyer more. Some developers are offering non-qualified owner financing, while others are offering free HOA fees, etc...There are a number of people on the coast who used their leverage in the US to play in the sanbox in Costa Rica, and some of them need out. Opportunities like this are out there now, and provide new investors both foreign and Costa Rican alike, a chance to buy a quality product at a price at the low end of the market. We are seeing this as a continuing trend and have had dozens of clients take advantage of these opportunities to get into their dream property.We are also seeing some of the most innovative and attractive developments come online, as developers are now doing more, and wanting to deliver more to today's investor. One such project, is the Wyndham Jade located in Manuel Antonio. (for more info, www.costaricawyndham.com). From the design of the building, the level of amenities, finishes, and perhaps most importantly, solid financial and managerial backing to not only create the development, but make it a success.In the Central Valley, we are not seeing a drop in demand, but rather, cautious banks holding interest rates a higher figure, slowly stunting the demand. However, liquid buyers in today's market are finding solid opportunities, and the luxury rental market is seeing never before seen demand. Likewise, and probably the strongest sign of stability in this market, is the current demand in the commercial market. As you drive around areas like Escazu and Santa Ana, although many of the residential cranes have stopped, the two largest commercial projects in the area are not only moving forward, but are seeing record absorption and prices in the development, as retail demand is still very strong.....Talk soon....
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