Costa Rica

Costa Rica
Land of Beauty
I was sitting down at the computer this morning and sending a reply to a customer and began to think. I would like to share some of my thoughts with you:
1. Probably 95% of the inquiries that I receive are from web surfers that are fantasizing and are simply not serious. That is fine. I fantasize about my hockey and football teams. Everyone needs a diversion from the tedious routine of daily life.
2. So many of the people who inquire are becoming increasingly tired of the direction in which the United States is headed. Democrats and Republicans are unhappy for different reasons. The government has put a stranglehold on you and the way that you try to run your business. Or if you work for someone, the path at work is ever increasingly treacherous.
3. And then you experience Costa Rica; either the friendliness of the people upon your visit or through a friend who has visited.
4. You are saying to yourself; gosh that would be a wonderful place to live. So you busy yourself on the internet trying to educate yourself about Costa Rica. That is certainly a good start. However, everything and everyone is beautiful on the internet. The information on the internet is not always accurate. The purveyors of information are not always scrupulous.
5. So many consider themselves resident experts on Costa Rica through their internet experience. Many of these same people have never stepped foot on the soil of Costa Rica but nevertheless they consider themselves experts. The caveat here is “buyer beware”.
6. The next thought process is to come back to earth with the reality of how am I going to make a living in Costa Rica. Costa Rica is probably not going to provide you with the same employment and compensation to which you are accustomed to in the United States. Your thoughts wander and you stumble across the notion that perhaps you could run a small hotel and live in the mountains or at the beach. Nice thought but once again “buyer beware”.
7. Next you turn to the internet to find the perfect hotel for sale in your price range. And once again every hotel is enticing that you find on the internet. Once again you make a snap decision as to location and circumstance of the property.
8. Some with scheming minds decide that they can save on commission by bypassing the realtor. They then busily send a message to the realtor requesting the name and exact location of the hotel. This is the most foolish thing that a person can do. There are licenses, laws, customs and regulations in addition to the nuances of the business that one cannot possibly know or be aware of. It is a terrible mistake to think that you can go it alone.
9. But after some soul searching some realize that it is not fortuitous to go it alone. But who do they turn to? The best possibility is more than likely to turn to a realtor. But there is no licensing of realtors in Costa Rica, no one to supervise the industry or to penalize when infractions occur. There exists a mixture of so called realtors; some are well meaning but lack the training and the experience. Then there are the drunken sailors who do not have a clue. There are also the unscrupulous; everyone in Costa Rica sells real estate from the taxi driver on down.
10. This reminds me of an experience that I had this week. I have a wonderful woman who designs my web pages and has not only artistic talent but the technical background. Unfortunately, she is expecting next month and she recommended another technician. So what does the technician do immediately to make me uneasy? He offers a 5 acre property in La Fortuna for sale at $1,600,000. First of all, the price is out of sight. Second, I have no interest in La Fortuna. The main attraction is the volcano at Arenal. That has blown its top a couple of times in recent years. Once the whole town had to be evacuated. How can anyone make a serious investment in an area that could literally go up in a puff of smoke. The old adage of location, location, location is perfect here. Another example, I picked up the real estate newspaper “The Beach Times” dated November 9, 2007; the headlines were “Land Owners Angry Over Valuations”. Playa Grande in Guanacaste is the nesting beach for the giant leatherback turtles. In the 90’s the area was designated as a national park to protect the turtles. The government wishes to buy up more property from private owners to protect the turtles. The owners are unhappy with the government offer. A realtor was quoted as saying that the land values for the beach property were between $850 and $1200 per square meter. $1200 is equivalent to $12,000,000 for an “hectarea” or 2.47 acres. Are you crazy or what? The ironic thing is I have heard that the government is not going to grant a building permit anyway in an effort to protect the turtles. Once again “buyer beware”.
11. Often times I have said to myself over and over in recent years in Costa Rica is the fact that my main deficiency is the fact that I am overqualified and that I know too much. In my years of teaching a friend of mine had a favorite expression; “no brain no pain”. How blissful it must be; I can only imagine. In the U.S. I had three careers; first as a teacher then as a real estate broker and appraiser. In appraising I achieved the highest distinction having been awarded the SRA designation and also the highest commercial license in New York as a General Appraiser. I represented 35 banks, mainly working in conjunction with Chase Manhattan and First Union Banks. What makes me so proud is the fact that I never in 17 years in the U.S. and 10 years in Costa, that not once have I had a complaint or legal action taken against me. I cannot tell you how many times I walked away from money. In the U.S., I was never questioned on an appraisal valuation. I have the ability to look at a property and in less than the space of a minute I have a good idea as to value and as to whether or not it makes sense.
12. In summary, what are my personal feelings concerning Costa Rica? Well, Costa Rica has been very good to me. I feel quite secure knowing that Costa Rica, with its healthful living style, has probably extended my lifetime. Although I am a former New Yorker, I am secure in the knowledge that the Costa Rica men have one of the highest life expectancies in the world.
13. The choice is yours. You can select a realtor with a wealth of knowledge and trustworthiness or go it on your own. If you decide on the second option once again the advice is “buyer beware”.
Limited Editions Reality www.limitededitionsre.com