At our real estate agency in Costa Rica we are conscious of the changes that have taken place in the last few years. We strive to list properties that are actually “sellable” and create awareness

to both; seller and buyer of what the reality is nowadays.

Some sellers get offended and decide not to list with us, while others understand and act accordingly. Of course you will always have those who decide to act independently from what the market tells us we should be doing.

The buyers on the other half, can always be certain that they are dealing with a team that is experienced enough to understand current Costa Rica real estate market conditions, based on our knowledge of what the buyer is looking for we are capable of offering the best possibilities available with enough criteria to justify why they are the best choices.

From 2002 to 2006 the buying process was quick; primarily driven by emotion rather than logic and reason. Due diligence was something done by only a few Costa Rica real estate investors and the Guanacaste real estate market was booming.

Nowadays the process is completely the opposite.

Logic and reason dominates over emotion and due diligence takes a good amount of time. We have noticed that the people who are now buying are those who had been thoroughly investigating the market and the different products available.

The sellers back did benefit from the ‘supply and demand’ working in the market and prices were going up regardless of the factors that are most relevant today; location, finishes, surroundings, value and an educated analysis of the possible future of the product, the area and the country.

Today, sellers are realizing that the factors mentioned above are extremely important, that their price must be based on a reality determined not only by the actual real estate market situation but also based on the fact that there is a gained knowledge by everyone of what has happened.

Those who are urged to sell must understand that their pricing must also include factors that were rarely considered before; risk and fear of what could happen in the near future.

It will take some time before the days of a quick and big returns in Costa Rica real estate investments come back – if ever. Those sellers who are still influenced by greed will have properties that will continue to sit on the market, fantasizing that a slash on their asking price of $15K or $20K is going to make a difference.

The properties that are now selling are those priced right, where a win-win situation is a reality for both parties with the seller understanding that gains of 50% + are simply not a reality anymore.

The person hoping to buy in Costa Rica on the other hand must understand that our market has not seen and, probably will not see the kinds of drops in real estate prices we have experienced in many areas of the USA.

The reason being that most owners own their property outright. Few property owners used credit to purchase, and before losing money on their assets, they would rather wait for the market to pick up. Again, those urged to sell are willing to make a smaller profit, but hardly a loss. This is the reason why the time for buyers to act is now.

The number of tourists coming to Costa Rica is on the rise again and although there are a few deals out there, if they are priced right, they don’t tend to remain on the market for too long.

Sophisticated Costa Rica real estate investors and knowledgeable buyers who have been doing their due diligence know this, and that is why they are ready to pull the trigger now!

If you have always wanted your piece of paradise the time to act is now, before the window of opportunity closes.

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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.