Talk Show, Episode 13

This is our mid-year review of real estate in the Southern Pacific Zone of Costa Rica. With tourism numbers up 11% in Central America, Ben and Rod discuss how this trend points to a brighter future for The Zone. Costa Rica Real Estate – Talk Show 13 by GuysInTheZone

Real Estate Guy’s Super Powers

A typical conversation in a-day-in-the-life of a Costa Rica real estate agent.
Visitor – Hey Ben, howzit going?
Ben – Good man. How’r you?
Visitor – Good. How are things in The Zone?
Ben thinking to himself – (Translation: Are properties selling? Are prices going up? What is this season like? What is the coming season going to be like? How much is my property worth? What is the effect of the global economic crisis on Costa Rica? I’m thinking of selling my property, is now a good time to sell? I’m thinking about buying a property, is now a good time to buy? Etc etc…)
Ben talking – Going fine. We’re not in a boom by any means, but by contrast with the last couple years, we feel encouraged.
Visitor – Sounds good. What’s selling?
Ben thinking – (or – Are prices going up? What is this season like? What is the coming season going to be like? How much is my property worth? What is…)

It is like having a super-power. Perhaps a bit overstated, but essentially true. The nature of the business of real estate does give one an ear to the ground on how things are going with the economy, social trends and by extension, the quality of life In The Zone. We all are curious to some degree about “what’s going to happen” and so we are on the watch for data, for information that’ll give us a clue as to what the future will be like.

To illustrate: Pre-Super Bowl talk shows. These popular shows are really about nothing more than guessing what is about to happen in the next few minutes. Player’s strengths and weaknesses are analyzed, their past injuries are discussed, and notable personal traumas might even play a bit into the picture. And this is all around what is about to happen with something that really isn’t going to impact the quality of anyone’s life to any appreciable degree! We humans love to speculate on what is going to happen in the future.

So, I’ll give you my read. I’ll tell you what my crystal ball says regarding what the future might look like here in The Zone. To do so however,

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Price Vs. Worth

Costa Rica Real Estate Price Vss Worth

“I need to sell my property. What should I price it at?” is the common question heard in our real estate office in Uvita, Costa Rica.

“Whatever someone is willing to pay” is the universal response that drives the free market evaluation system the world over. However, is a price that is determined by this method a clear indicator of a property’s worth in Costa Rica?

Costa Rica Real Estate Price Vss Worth
Is the price commiserate with the worth?

The obvious answer is “of course”. However, in this uncertain world we live in, even this un-arguable standard of evaluation is sometimes brought into question and results in what can be described as quirky or illogical scenarios.

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Costa Rica Real Estate – Have We Hit Bottom?

Hitting the Costa Rica real estate market bottom

The ability to identify “bottom” is the hallmark of a successful investor. It is extremely difficult to do, which explains why so many of us speak in terms of “would’a, should’a ,could’a” when talking about our investment history.

So how can we identify the bottom in the market now?

Tour Costa Rica, Buy Southern Zone

Costa Rica is attractive as a vacation spot, for retirement and investment, especially in this “buyer’s market.” In particular, the Southern Pacific Zone (and I’m talking about the area south from Quepos to Palmar) has a number a factors that set it apart from the rest of Costa Rica…

Interested in Costa Rica real estate as an investment. They primarily live somewhere else, but they own property in Costa Rica for the asset appreciation potential as well as possible rental income. Some just buy and hold (land-bank). For developed properties, the investor has a vacation home to visit as desired.

Migrators spend a regular amount of time in Costa Rica during each year.

Re-locators are those that are looking to move to Costa Rica from wherever they are. They will live full-time in Costa Rica.