Costa Rica Real Estate Prices in Atenas – More prices raised than lowered – September 2008

While I have always thought Garland Baker was “right on” legally, many of his articles are so negative that it makes me wonder why he (or you for that matter) would want to live in Costa Rica, but he has hit a new low in my book with his recent article in AMCostaRica.

Yes I am a real estate broker, and my focus is the Central Valley, so maybe that is why we are not seeing the “slow down” he speaks of. Quite the opposite here in Atenas…

We do work occasionally in the Parrita/Quepos area, so let me set the record straight on a few things there:

1. We have been advising our investors/clients for about two years now that there is simply too much speculator driven inventory in Parrita, Quepos and Jaco. So advising investors that buying up property with reduced prices in that area is a recipe for disaster!
2. I would estimate that at probably 70% of individual foreigners who buy land in those projects, are brand new to Costa Rica or do so sight unseen from high pressure salesmen in “boiler room” sales offices, or are brought down here to see their potential purchase without being allowed to see the rest of Costa Rica. Promised land that can be subdivided (most cannot) to make a huge profit, or condos that will soar in value (most will not), many are disheartened, and disgusted with Costa Rica when their dream is destroyed.
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3. Years ago all our clients wanted to be near the beach. We would take them there to satisfy their curiosity, but 99% ended up somewhere cooler, somewhere with less mosquitoes and other objectionable critters, and less crime. Now we are seeing folks who are much better informed, they know there are better places to spend their retirement and their money.
4. We are also now getting quite a few inquiries from people who have lived a while near the beaches, (years in some cases) who love the area but can no longer take the heat as they grow older.

As to real estate prices being reduced, that is just not the case in our area at least. I just did a search on “reduced” on our own website to see what came up:

• 6 listings out of about 200
• 3 were originally listed too high to begin with (one is in Parrita!)
• 2 needing to sell fast for health/family reasons.
• 1 building a new home (anxious to get started)

Absolutely nothing to do with the market! We have had many more raise prices than lower.

A big portion of our business is selling retirement homes/property to “Baby Boomers.” According to Wikipedia “Seventy-six million American children were born between 1945 and 1964”. (This does not include the rest of the world who had their own boom!) They are just now reaching retirement age, the influx of folks we have seen is just the tip of the iceberg. Where are these folks going to retire?

Is there anywhere in the US where they can retire with the level of comfort per $$, climate and level of health care that is available in Costa Rica? Does that sound like the start of a “slow down” to you? To compare these times to the 70s makes no sense, you are comparing apples to oranges and that never works!

Yes crime is on the rise and not much seems to be done about it in certain parts of Costa Rica, in parts of the USA, in Mexico, in Guatemala, in Nicaragua, in Panama. Maybe we should be part of the solution instead of sitting around complaining how terrible it is. In my neighborhood we all look out for each other, Ticos (mostly) and foreigners alike.

We don’t have a problem with crime here because it simply is not permitted. Period. I have lived in Costa Rica a total of 10 years. There is no fence around my house, my front and back doors are usually open. I do not live in fear, but I also do not make myself a target!

Costa Rica is a spectacularly beautiful country loaded with nature and naturally welcoming, friendly people, but like everything, there is good and bad.

It isn’t fair to only accentuate the negative when there is so much positive!

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Considering The Atenas Area For Your New Home In Costa Rica?

The AARP (American Association of Retired Persons) ranks Atenas as one of “The Best Places to Retire Abroad.” For more information about homes and land for sale in the area please contact our Recommended Realtors in Atenas by using the simple form below:

Andrew Makarik

to@welovecostarica.com

Andrew Makarik is the main editor of WeLoveCostaRica, a fan of this sunny country. He is also a loving husband and a has a lovely daughter. By being a devoted family man and the biggest Costa Rica fan, he wants to make more people feel at home there. WeLoveCostaRica unites people and helps them find new home or a new travel destination. This website is a friendly community where everyone can find not only information, but also new friends and travel pals. Andrew is also passionate about IT and programming, so he himself maintains a friendly atmosphere in this cozy environment of WeLoveCostaRica.com.