Great article with pleasant comments in Huffington Post
by: Federico Fernandez, Real Estate Consultant
Our charming beach community of Tamarindo´s economy is based on tourism. Lodging is one of the basic items in the scope of services available to serve a growing flow of tourists visiting us. Visitors not only seek options of staying in hotels. Renting a condo, villa or home is an alternative that every day becomes more and more attractive. This has become a win-win situation. Tourists are able to stay in comfortable beautiful houses or condos with private pools, ocean view, beachfront locations, walking distance to the beach or even in the countryside within short driving distances to several beaches and activities. The units available are furnished, fully equipped and serviced by property management companies that facilitate all renters´ needs during their stay. It is very convenient for vacationers that they can choose within a wide variety of properties. Some of them are large houses or condos that can host large groups. It is common that two or more families come together and occupy these units. They have a great time as they can share cohabiting, enjoying the private pools and cooking together or barbecuing. The net result could even be savings for the renters as they have to eat out less frequently. Options of renting private vacation rental units range over $100 a night up to $20,000.00 a week, depending on the characteristics, size, time of the year and amenities provided. Owners of these properties are benefited as well. Several of these vacation rental units, without much effort, are self-sustainable financially speaking. This means that renting a couple of weeks a year, usually in high season is easy and the income produced is enough to cover all the yearly expenses related to the property. If the focus of a property is business related, some of them are very profitable. As a quick reference, a condo in a walking distance to the beach that can be purchased completely furnished and equipped at $375,000.00 could generate a net profit of USD$25,000.00 yearly. On bigger dimensions, properties over a million dollars can generate yearly revenues close or over $100,000.00. This is very convenient. Your vacation home pays for itself and for your own travel expenses to enjoy it. The vacation rental business is usually ongoing and when a property sells, the bookings are granted to the new owner. Ask your ABC Real Estate advisor for the rental income history or capabilities of the property you are interested in. You might be surprised.
by: Jason Clements, Real Estate Consultant.
Every year, more and more people are deciding to exchange their “I Do’s” in the land of Pura Vida. You need only Google “weddings Costa Rica” to have yourself hours of reading material. The sheer diversity of its landscape offers a multitude of settings to captivate just about anybody. You can exchange vows on the edge of a volcano, at the base of a waterfall or deep inside a rainforest. And if you are a beach person, there is a plethora of white sand beaches to choose from. Tamarindo has emerged as a destination wedding hotspot in its own right with options ranging from the very simple to the quite extravagant. Several of the larger hotels offer full service wedding packages. For the more creative, you can rent one of Tamarindos’ beautiful beach front or ocean view homes and create your own personalized experience.
You will be hard pressed to find a single week the entire year where at least one wedding doesn’t take place in Tamarindo. Often times, all you need to do is walk down the beach at sunset to find a small gathering of family and friends taking part in the nuptials of loved ones. This very popularity has also become a formidable boost to the local economy, with hotels, restaurants and tourism companies (just to name a few) reaping the rewards. Local entrepreneurs have also seized the opportunity and created their own businesses to serve the demand that has been created. Soon to be newlyweds will have their choice of wedding planners, photographers, florists or even chef and catering services to accommodate any private function. The trend only seems to be growing and this is great news for Tamarindo.
by: Mark Venegas, Real Estate Consultant
When an agent goes to a listing appointment it is not unusual to find out that the seller already has set the price they want to ask for their property. “My neighbor sold 6 months ago for $$$s and my house is much nicer than theirs” is a standard answer we get from the seller when asked how he/she came to that asking price.
Although it is customary that the market in Costa Rica moves slower than in the US, many times properties stay on the market for long periods here basically because sellers price their properties too high. Some agents simply accept the sales price set by the seller in the hope the seller will eventually wake up and adjust the price, but this is a waste of everybody’s time. If you want to put your property on the market, and be a knowledgeable seller, you should first select a trusted agent and ask him/her to appraise your property so you will know what the market value is, this is the most important step in finding the appropriate selling price. Also, to get a better feel of what you need to fix, paint, clean or organize, ask the agent to tell you the good, bad and the ugly of your property so you will not only know what is necessary to work on to get it market ready but also know how your property compares to others in your area.
Because of the difficulty to obtain the actual sales price of properties sold in the past, in the National Registry, it is very much up to your local agent, and his/her knowledge of the area, to research comparable properties to help find the adequate selling price range for your property. So, you will not get a typical CMA as is usual in other countries. A CMA is a Comparable Market Analysis and are used to set a sales price of a property.
If you are a motivated seller, it’s best to put greed aside and listen well to what your agent tells you about pricing and what needs to be fixed. Things that you don’t see because it’s part of your everyday life, can be very important. Curb appeal, a well cut (poop free) lawn, a freshly painted front door or a living room that isn’t over-furnished will all help you sell your house.
When your agent arranges to have photos taken for their website, put away that garden hose that’s lying around, that broom that is leaning against the dining table and the clutter on the kitchen sink and bathroom counter. Make the house look organized and staged, because the photos on a website are the first impression a buyer will have of your property and you want it to be a good one. This also applies, and is very important to do before showings. Each agent from ABC Real Estate, through their years of experience, knows how to best guide you, and we will be happy to help you through this process to make it a pleasant and rewarding one, like many others before; http://www.abccostarica.com/about-us/testimonials.
by: Mark Venegas, Real Estate Consultant
After a fantastic high season, the much loved and appreciated rain is starting to return, bringing back the lush green vegetation. The rain is still a little scarce, but once it settles in, clear and sunny mornings can be expected accompanied by the typical rainy afternoons of the beautiful tropics.
Tamarindo, Costa Rica, March 13th, 2015, Jogi – Juergen Gerner of ABC Real Estate has joined the National Association of REALTORS® (NAR), connecting to a worldwide network of more than one million trusted real estate practitioners. Only members of the National Association of REALTORS® are properly called REALTORS®, and they are identifiable by the REALTOR® “R” logo on their marketing and sales literature.
By joining NAR, Jogi has aligned with the most trusted name in real estate. REALTORS® are required to abide by a strict code of ethics, obligating them to client loyalty; fiduciary (legal) duty to clients; cooperation with competitors; truthfulness in statements and advertising; and non-interference in exclusive relationships that other REALTORS® have with their clients. They are expected to maintain a higher level of knowledge of the process of buying and selling real estate.
Working with a REALTOR® provides buyers and sellers with confidence that their real estate professional is knowledgeable and trusted. Jogi Juergen Gerner has a connection to over one million REALTORS® in over 50 countries around the world to assist with client needs, no matter what country.
The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries.
by: Federico Fernandez, Real Estate Consultant
Some foreigners might believe that Costa Rica is a savage land. An image of a land lost in time with nothing but dirt roads, chickens running loose in the streets, and the local population traveling in ox carts. Old and colorful school buses or Land Rovers from the 1970s might arise in their minds if they have not been here before.
The good thing is that this back-to-basics lifestyle of enjoying nature, driving through wonderful scenery to arrive at heavenly beaches, rainforests, or active volcanoes, coexists with a prosperous nation with a flourishing economy.
Historically, the country´s economic center has been the central valley. Two decades ago, there were only two or three buildings with over 20 stories downtown; but, San José and its urban surroundings are nowadays a modern city in constant growth. A modern airport serves visitors and currently, in its skyline, you can see several construction cranes working on tall apartment buildings, office complexes, commercial centers, roads, etc.
New suburbs have been created with housing available for the middle class, all the way up to the extravagantly rich who can buy mansions in the hills and in gated golf resorts. Around these new residential developments, services and amenities have inevitably been created. In districts like San Rafael de Escazú, Pozos de Santa Ana, San Antonio de Belén, and Pinares de Curridabat several new hotels of different brands have opened their doors in the past ten years. You´ll find in these areas dozens of restaurants, huge malls with all the fancy stores, dealerships for all the luxury car brands, mixed residential-commercial developments with hundreds of underground parking spaces, furniture stores, private schools, etc. The offering of goods and services is so extensive it can even be overwhelming.
The recently built highway, Route 27, offers an escape from this urban jungle. During the daytime or at times of light traffic the distance between Tamarindo Beach and San José can be driven in less than four hours. Daily flights between San José and Tamarindo are available and only take 45 minutes.
So, making the choice to reside on the exuberant coast of our beautiful country does not mean you have to let go the pleasures of the modern capitalistic society.
by: Jason Clements, Real Estate Consultant
Many consider Ireland to be the origin of Halloween, where the holiday is celebrated much like it is in the United States and Canada. Children dress up in costumes and spend the evening trick or treating in their neighborhoods. There are festive parties where traditional games are played amongst adults. Many countries do not participate in the commercialistic ways of the American version of the holiday. October 31st is a day to remember and honor family members who have passed away. Candles or fires are lit, pictures of the deceased are brought out and sometimes even alters are erected to welcome back the spirits are the dearly departed.
In Tamarindo, Halloween signifies something that is unique to our little beach town. It marks the end of “low season”! Historically, September and October are the rainiest months and also the slowest months in terms of tourism. The vast majority of profits for business owners is made from December to March so everyone looks to the end of October, which just so happens to be Halloween. Many enjoy the slower time and some take a break. In November Tourists will again start flocking to Tamarindo in higher numbers, activity around town noticeably picks up and the weather in November is arguably the best all year. Restaurant and business owners all devise their plans around this time of year, so there is a renewed sense of excitement in the air. You can feel the momentum build through the month of November and its peak in Mid-December.
There is great cause for the optimism, too. The Costa Rican Tourism Institute reported that the number of tourists visiting Costa Rica during the first 6 months of 2014 increased by 5.4% during the same time of 2013. We are fielding calls and emails from people all over the world every week. They are not only looking to come to Costa Rica for vacation, but to purchase or start a business. Residential building is on the upswing and the recent surge in existing home sales has left our inventory thinner than it has been in some years. We feel confident this will lead to even more home building and are particularly excited about the new trend in sustainable home building. So as I said, there is much to be excited about as we head into November and we at ABC would like to wish all Tamarindo Residents a productive and profitable high season!