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?

Our lead count is down maybe 10% but our closing ratio is down 50%. Everyone is waiting on the fence just like the stock market – because of fear.

How has the number of sales declined or risen in the last six months in comparison to the previous year? Our sales are down 10% from last year numbers for Dec, Jan, Feb.

What is the easiest real estate sale for you in your area right now? Nothing is easy right now. This new Jaco luxury condo resort has been our hottest seller – the higher end market.

Where do land prices stand now in your area in comparison with this time last year? Land prices are holding strong. There is an occasional person advertising for less than last year but not selling for less than they paid.

Where do finished home/condo prices stand now in your area in comparison with this time last year? The developers haven’t lowered prices. There are people that have had there homes for sale for the past 2 years that are finally bringing the prices down to reality but still not selling for a loss.

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 have a little bit of everything. Homes, land and condos.

There is an over supply of over-priced condos that are not on the beach and don’t have easy access to the beach. We are lacking single family homes with ocean views that range from $250K to $500K which is a product that will sell. People are selling lots and not building the homes.

I’m personally advising all my clients that are looking for investment to take the emotion out and purchase what you can afford and you will do well in this market. If you only have $60K then purchase the 1 bedroom that is 400 square feet 2 blocks off the beach and see nice returns from the rentals. Don’t mortgage the 200K place that is in the same location that is going to be negative cash flow.

How do you feel the real estate market will perform in your area for the remainder of 2009? We are going to have a slow and steady year. There will be deals that pop up here and there. We don’t have a lot of product on the market and most of our developments are complete so now is the time to buy if you can sit and hold and wait for the credit market and the new highway to come in place. You will be sitting pretty in two years as there will be a more serious lack of product all over again.

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For more information about condos, homes and land for sale in the beach town of Jaco and surrounding areas please contact our Recommended Realtors in Jaco Shawn Fletcher and his wife Hannah Fletcher
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.