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Actor Mel Gibson has relisted his the private 500-acre beachfront-and-jungle compound property on the Nicoya Peninsula in Costa Rica for $29.8 million.
[ http://online.wsj.com/article/SB10001424052702304724404577295591605770460.html?mod=googlenews_wsj ]
Rumour has it that the ‘brave hearted’ actor who starred in Mad Max 2: The Road Warrior, Lethal Weapon amongst many other movies – never could quite work out ‘what women want’ in Costa Rica and was just scared silly about driving in Costa Rica …
Scott
Actor Mel Gibson has relisted his Costa Rica property for $29.8 million.
The private 500-acre beachfront-and-jungle compound first came on the market in 2010 for $35 million.
Located on the Nicoya Peninsula.Let me SEE!!!
35 – 29.8 = a net loss of 5.2 million dollars
and that was back in 2010, today it is 2012 (2 years)
a 5.2 million LOSS in 2 years
I thought Costa Rica was a great place to buy real estate
[quote=”aguirrewar”]Actor Mel Gibson has relisted his Costa Rica property for $29.8 million.
The private 500-acre beachfront-and-jungle compound first came on the market in 2010 for $35 million.
Located on the Nicoya Peninsula.Let me SEE!!!
35 – 29.8 = a net loss of 5.2 million dollars
and that was back in 2010, today it is 2012 (2 years)
a 5.2 million LOSS in 2 years
I thought Costa Rica was a great place to buy real estate
[/quote]I don’t have a dog in this fight, but I feel compelled to respond when I read blatantly incorrect information on this site – especially when those mistruths may adversely impact people’s impressions about Costa Rica or considerations about living here see and read
Without getting into the argument of whether or not Costa Rica is a good place for real estate investment, let’s at least get some of the facts more accurate, if not totally correct:
The title of this thread should be “Mel Gibson Wants to Sell His Costa Rican Property”, not that he “Sells” his property.
Here is what I understand from a few minutes of research:
$25.8 million – the amount Gibson paid for his 163 hectare Playa Barrigona property in late 2007 (not 2010).
$35.0 million – the amount Gibson originally listed the property for sale in 2010.
$29.75 million – the amount Gibson re-listed the property for recently with Christie’s International Real Estate.
So, did he experience “a 5.2 million LOSS in 2 years”? No, he simply lowered his asking price by 5.2 million dollars.
Has he lost any money on that piece of real estate as of this date? – No!
Will he loose money when he sells the property? – The odds are somewhere between possibly & probably! It all depends on if/when the market gets better and how patient he is in waiting for the market to possibly come back.
Is it “good riddance to bad trash”? – Unfortunately no, he built and still owns a beautiful home near Mal Pais.
Unless you own or buy a similarly priced property with similar characteristics, or you buy the property next door to his property, the sale or non-sale of his Barrigona property at whatever price will have little or no affect on the market value of any property you may decide to buy or sell.
I don’t fit into any of the aforementioned property classifications, so I really don’t care what he sells it for – it’s none of my business. But I do believe that when I have the chance to help get the facts straight, it is my business!
[quote=”Scott”]Actor Mel Gibson has relisted his the private 500-acre beachfront-and-jungle compound property on the Nicoya Peninsula in Costa Rica for $29.8 million.
[ http://online.wsj.com/article/SB10001424052702304724404577295591605770460.html?mod=googlenews_wsj ]
Rumour has it that the ‘brave hearted’ actor who starred in Mad Max 2: The Road Warrior, Lethal Weapon amongst many other movies – never could quite work out ‘what women want’ in Costa Rica and was just scared silly about driving in Costa Rica …
Scott
[/quote]
Hey, it looks pretty nice… does anyone have Mel’s number?
Thank you for clarifying that costaricabill
To realize a loss, there must have been a sale. There has been no sale therefore, there has been no loss…
What we also need to remember is that for many high net worth individuals, buying real estate offshore is a great way to move your liquid assets out of the U.S. without the tax man asking too many questions.
Scott
what taxman would that be that isn’t asking questions? because isn’t buying property here, moving your money out of country, the gist of all the new reporting laws? isn’t Mel a US citizen? wouldn’t he have to disclose all this information???
I was referring to “too many questions,” certainly in comparison with some obscure ‘tax advantaged’ offshore investment that is difficult even for the experts to analyze – never mind some poor intellectually challenged ‘inspector’ at the IRS – and there are many of them …
Scott
You are bad with numbers and dates the numbers I came with come with the NEWS published.
Why don’t you put a BID for $20,000,000.00 and prove me wrong. At the end of the sale is he making a PROFIT or ending with a LOSS and don’t spin Numbers and ideas, $$ does not have an opinion it is either .99 cents or $1.00 dollar.
The difference is the Dollar has 100 pennies and not 99
[quote=”aguirrewar”]You are bad with numbers and dates the numbers I came with come with the NEWS published.
Why don’t you put a BID for $20,000,000.00 and prove me wrong. At the end of the sale is he making a PROFIT or ending with a LOSS and don’t spin Numbers and ideas, $$ does not have an opinion it is either .99 cents or $1.00 dollar.
The difference is the Dollar has 100 pennies and not 99
[/quote]
You say I am [i]“bad with numbers and dates the numbers I came with come with the NEWS published.”[/i] Fortunately, in this case both the [i]“numbers and dates”[/i] and the [i]“NEWS”[/i] verify exactly what I say and contradict 100% of what you say!
http://costarica-pr.com/mel-gibson.html here is the link when he bought the property. He was 51 then, he is 56 now. Simple math is 5 years have lapsed. 2012 – 5 = 2007, the year he bought the property. Plus, it was well known in 2007-2008 with folks in the Samara area that he had purchased the property. The 2007 date is also mentioned in other web articles.
http://online.wsj.com/article/SB10001424052702304724404577295591605770460.html?mod=googlenews_wsj – this is the link that appears to be the genesis of the original posts on this thread, and the whole problem appears to be the contradiction of the title that “Mel Gibson Sells His Costa Rica property” versus the explanation in the actual article that he has simply “re-listed” the property, reduced his price and selected a new real estate company to market the property. Listing is not selling, re-listing is not selling and we don’t know if “At the end of the sale is he making a PROFIT or ending with a LOSS” until the end of the sale occurs.
It obviously won’t be me, but if, as you say someone puts in [i]“a BID for $20,000,000.00”[/i], then yes, Mel Gibson will loose money [u]if he accepts it.[/u] But of course that is 100% speculation, or in other words [u]your[/u] attempt at spinning the [i]“Numbers and ideas”[/i] and only proves your ignorance relating to real estate transactions – a [i]“BID”[/i] does not create any basis for calculating profit or loss in a real estate transaction. Only when there is
(i) an offer by the purchaser; and
(ii) an ACCEPTANCE by the seller; followed by
(iii) the closing of the transaction; is there
(iv) an established basis for any calculating profit or loss for any purpose, be it for calculations of tax consequences or publicity purposes!The remainder of your post makes no sense at all is not worthy of any response!
Is there any source of recent real esate sales figures to compare Mel’s listing against? Just curious to know what has sold in the high, high dollar range and where — especially homes, not raw land for development. Anyone know how many properties have sold (or are listed) above $3 million in the last 2 or 3 years — arbitrary dollar amount I picked, btw.
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