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Lotus.. Minuit…
I would not buy in CR or anywhere else for investment purposes. My intent is to buy a modest place for living when the time is right.
For investment, I will stick to the stock market since my stance on owning RE as an investment is that “the more you own, the more it owns you.”
I can be in and out of the stock market within minutes – the same is not true with real estate. I often see that people who “invest” in real estate for the purpose of ROI do not understand the stock market. Even with all the troubles that surround RE ownership, a lot prefer it simply because it is something they can put their hands on (stocks are too abstract). For investments, I much prefer the liquidity and simplicity of the stock market. Surely the stock market isn’t always great, people often cherry pick from and to dates to show how bad or good (which ever their purpose) the stock market is, however long term, the stock market is usually a good investment.
Considering stocks are down now, the stock market, in my opinion, is the better place to be. Even an index buy on the overall market, considering the DOW was at 14000, is a good buy. The DOW will get back to 14000 quite easily once the world’s economies pick up. No one really knows, but I doubt it will take 5 years to get to 14000 again so considering it is 9605 now, 14000 is a nice ROI and likely way more than any real estate purchase will offer in the same time period (no maintenance on stocks…. this helps too). Even though RE is down all over the world, the place to be, for ROI, is the stock market.
Again, sorry lisle55…. I’m just not wanting any advice from the RE industry now. And, if you know anyone who is Chinese, you’ll know we tend to be downers (very serious people all the time). I’m an ABC (american born chinese) so not like the generation before me, but, still, my parents rubbed off on me.
I’d be looking for something the mountains that just might have an ocean view. I’d rather be in the hills since it cools down at night there.
lisle55 said: “I would say the market is holding pretty strong if you purchased right and compared to the rest of the world.”
With all due respect, this is where you lose me. You must have a vested interest in the CR RE market. CR is by no means special in the world wide RE market especially at the middle to high high end market since it depends on foreigners who are currently struggling.
lisle55 said: “I know every sale on the beachfront in Jaco and there is less than 5 units that have sold where people have taken a loss…”
Trouble with RE in CR is that you can say what you want, because there is no way to verify it. If you know “every” sale, then you are part of the RE establishment and so you have a vested interest in denying the true nature of the market (buyer beware). Also, no one loses anything until they have sold so those that purchased and can afford to hold it for haven’t lost anything.
lisle55 said: “But if you are looking for Direct Beachfront you better grab one of the 2 or 3 deals that are on the beach because once they are gone the rest of the people are holding on.”
The famous buy it now or else you’ll never get a better deal ever line?
lisle55 said: “As for trying to predict the bottom I wish you the best of luck.”
I think the bottom will come and price will be stagnant for enough time to make a good deal. The bottom will last a lot longer than a day. Most people, even the slightly educated, will be able to identify the bottom for it will exist for years (many moons).
Sorry to be such a downer… it comes from my very stronger Chinese mother and father!
Thanks Scott.
There are a few websites that change ever so slightly so it is quite easy to track changes. I’m looking for the settle changes – just the language one uses in describing the property over time is of great interest to me. I’m particularly interested in the changes of the ads that condo owners and developers place.
I’m also looking for contradictions. You know, the ones that say the RE market is great, however the vast majority of other postings from those that haven’t a vested interest suggest something else. I find that marketing is very interesting.
Time is on my side since it seems RE in CR is falling like a rock from the sky (can I short the RE market in CR.. haha!). I will take quarterly website extracts and compare on-going. I’m not going to buy while the rock is still falling, that is for sure. I’m thinking that maybe, just maybe, in 2 years, the RE market might stabilize in CR. Certainly it can’t stabilize until “***LONG AFTER***” Europe, Canada, USA, England have stabilized since these are the people responsible for CR’s growth.
Among other CR RE web sites, I just downloaded your entire site to my PC too so as time goes on, I can get a better picture of the price changes. I’m thinking RE has dropped in CR, however it seems one must develop one’s own price watch.
The above mentioned downloads will also give me an idea on how long a property remains on this site and other sites. I’m really interested in the length of time it takes to sell RE in CR.
The download software is available for free on CNET – WinHTTrack Website Copy. It also works well for offline surfing too.
If you don’t mind Scott, I will report back on my findings. I’m thinking I will find quite a lot of downward price changes in the coming months. Your surfers, I’m sure, would love a factual look at the market in CR. I’m thinking CR needs some factual RE data. I will probably download a copy of each website every month then compare the difference. I won’t do this long term, just long enough to provide the truth since the truth is really hard to get at in CR.
I’ve copied other websites (China based) and it is amazing how they change over time… the lies that are revived are just amazing. I hope CR is more realistic than China. Things are crazy in China.
Right, no websites that are CR based that will show me the difference in prices. It seems this is true.
I just wish that when an entire web page is dedicated to a property that has sold, it include a date of the sell so as time passes, at least this website could provide a better guide. You have properties listed and as they have sold over the years, it seems you would know the actual price for which it was sold. You might not know the sell price of every property you list, but surely the actual sell price and date that the property sold would be better for those that view your website.
Like this one, I can’t tell if it was yesterday or 2 years ago when the market was better. I’m looking for up-to-date pricing.
