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I will chalk it up to coincidence. It was the timing and the fact it had never happened before that made me think otherwise. But again, no big deal.
Imxploring, I enjoy intellectual discourse on various topics in this forum…save religion and personal matters. Economics is my passion. I certainly don’t know it all but I struggle to sit by idly “drinking koolaid” when I feel that I have credible contrasting theories that I think may benefit others.
I certainly do think there is good news on the horizon for both the US and CR. I just think its a little further out (in most markets) than many of the members on this forum.
I think the difference between me and many of the contributing members here on this forum is that I look at things from a very black and white perspective, the deal either makes sense today or it doesn’t, be it personal property or investment property…at the end of the day I don’t personally know many people who would willingly take a loss on/pay too much for a property. Whereas, many of the members likely view CR as paradise-like escape from their normal existence in their country of origin…a place to vacation…a place for R&R. Both views are totally acceptable. Most of my comments would be geared to the people who are wondering if now is the time to buy or if they should rent for a spell before making their decision. Obviously you know where I stand…things will get worse before they get better. But they will get better…everywhere.
Normita, you are partially correct. Except, I never claimed to be an expert. I merely claimed to have a viable dissenting theory.
I have done plenty of work in CR real estate both personally and professionally.
I have many times said that Scott is a bright guy. He definitely has many valid points and theories. I just happen to have a different one on this topic. Scott’s theory on CR real estate starts from a micro view and moves to the macro. Whereas mine is the opposite…macro to micro.
I merely asked you to apply some critical thought to each view and not just take anyone’s word on anything.
American’s appointed George W. to run their country…not once but twice…he’s writing a book and I’m certain it will sell more copies than Scott’s. You see where I am going with this. Nevertheless, I have read Scott’s book and it is quite insightful. However, the debate here is one of economics, not how to buy CR real estate.
I’ve also asked you to at least acknowledge Scott’s vested interest in promoting the CR real estate market and my lack thereof.
Lastly, I too am involved in real estate everyday and have executed hundreds of real estate transactions…just on a much larger scale. The last deal I executed was $25.3MM. I do claim to know a little bit about a little bit…but certainly no expert. Just because I have not shared an Imperial with 15 developers in the central valley does not mean I do not understand what is happening at a macro level…where I believe it starts.
At the end of the day its only Scott’s opinion vs. mine. Think about each critically and make your own decision. I am not in any way asking you to prescribe to my theories…I am merely presenting and defending them. I ask you not to take this so personally.
Scott, just for my understanding, you mentioned that you “have personally monitored” over 200 sales since late 2006. Please define “monitor”. How does one become a monitor of real estate sales? Does one who monitors real estate sales in CR get paid a fee or commission to monitor? Are there other monitors in CR? Is there a licensing involved? Accreditation?
We don’t have real estate “monitors” here in Canada (that I know of) and I am just trying to get a handle on what they do precisely. Reason I ask is that there might be a possible opportunity up here (or in other countries) for potential monitors.
Actually, I was wondering about that statement as well “I do not personally sell real estate but the average sales price of the sales (over 200) that I have personally monitored since late 2006 has been just over $210,000 so I would agree Normita, a million dollar home is not a typical vacation home in Costa Rica and as far as I know, none of the regular contributors in this Discussion Forum live in a million dollar home”.
FYI although there isn’t right now a ‘million dollar’ home on this property, the land is worth much, much more.I have as much “vested interest” in being correct about the advice I give my investment clients as you do grisfz77 in choosing real estate portfolios for your employer.
You may recall that I trained as a Wall Street investment advisor and have been in professional investment management since 1987 (not a great year to start) and, eventually moved offshore to the Cayman Islands in 1996 and then Costa Rica in 1999.
Even before I became involved with Costa Rica real estate my international clients – including the former Finance Minister of Costa Rica (https://www.welovecostarica.com/public/500.cfm) had invested a significant amount of money in offshore hedge funds.
My international investment clients – who pay me an annual wealth management fee based on the total value of their investments – have also bought multiple units in quite a few different real estate projects directly with our recommended developers.
I am also paid by a number of developers who request my help in developing ideas and projects that would appeal to ‘international’ real estate investors and, for your information, I have never shared “an Imperial” with any of them.
Your question about licensing and accreditation of “potential monitors” is clearly more sarcasm on your part and when time permits I am happy to respond to legitimate questions from our VIP Members but, you grifz77 are monopolizing our Discussion Forum and even though the information we share could be useful to our other VIP Members (we just past 16,000 VIP Members) I simply don’t have the time to respond to 3-4 of your sarcastic posts every single day.
Scott Oliver – Founder
WeLoveCostaRica.comAs far as wall street investment advisors go…I guess you’re doing better than most these days eh Scott…
As you can see from [ https://www.welovecostarica.com/members/213.cfm ] I first became disgusted with Wall Street many, many years ago… In light of recent events, I don’t quite understand how anybody would even consider investing with these firms.
Scott Oliver
Scott – I see you have regained your composure. She’s a tough one but you are handling it very nicely. Don’t forget – CR has many natural amenities the states do not have. Although I divested partially, by no means have I divested completely. Real estate wise I have almost 40% of my assets in CR.
There is intrinsic value to living here. One of them is not having to encounter people who only want to talk about money. When I say hello to a friend here in the US, the conversation turns quickly to job and money. Not so in CR. Plus there are not many genuine CR country folk in the US.
So – don’t forget about all the touchy feely things and natural beauty this country offers. I love the lifestyle here and came for that reason, and ended up investing because I believe in Costa Rica.
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