What sort of decline/increase have you see in the number of potential buyers who have contacted you in the last six months in comparison to the previous year?

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I would say the number of buyers are down by 35-40% from last year.

How has the number of sales declined or risen in the last six months in comparison to the previous year? We have seen sales strong at the end of last year, quiet in January and February and now picking up in March/April with clients coming in.

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What is the easiest real estate sale for you in your area right now? We have a nice ocean view lot for $88,000 near Playa Conchal in a secure community. Best deal in the area. I just sold a lot in the $70K range with less view two months ago and the owner has already starting building a home! So, this is an end user development with great potential. I also have a great three bedroom condo across the street from the beach in the $200K range.

Where do land prices stand now in your area in comparison with this time last year? Land prices are probably down between 10-20% of what was being asked last year.

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Where do finished home/condo prices stand now in your area in comparison with this time last year? There is an inventory of condos, especially in Tamarindo and Flamingo. I have seen some anxious sellers come down 20% in some cases so some lucky people are buying into an ocean view condo for less than what the developer was selling for a year ago!

Those that are in a fire sale situation (whether from resale or direct developer purchase) are willing to let properties go for a discount. Their loss is your gain.

What sort of real estate product is currently available in your area? What are you lacking? Is there an oversupply of any particular product? We lack nicer single family homes in the $200K range. I wish I had more inventory! We have many more condos in Tamarindo and Langosta now. We can offer homes, lots, development land and condos.

Where are the best opportunities right now in your area? Any of the above (homes, lots, development lands, and condos). It just depends on what the client seeks.

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How do you feel the real estate market will perform in your area for the remainder of 2009? It’s hard to say, for the right price anything sells in any market condition. Beach properties are still sought after and we offer a great variety of different beaches for every person.

We’ve seen some prices come down and a few sellers will continue to lower their prices so I would predict that at the end of the year it’s possible that in general, we may see real estate prices in our area down by a total of about 30%, but I think we will bounce back in 2010.

There are some great deals now and we will have even perhaps more deals in the rainy seasons, when many owners drop their prices to sell before the dry season approaches.