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After being a VIP Member for over a year and traveling to Costa Rica a few times. I have come to what may be an unfounded conclusion, but it seems to be the way it is. To me, as I said unfounded conclusion, that the people related to WeLoveCostaRica.com are doing some of their own pricing too.
It appears that people selling , for instance, 400 acres for $500,000. Now this is a country that at least 50% of places that “are out a little ways” need a 4 wheel drive vechicle to get to them. Or a two bed room , two bath home and pool, out “away” from big city life (way out). Is priced $350,000. I live in Florida and that $350,000 would buy a lot more home than that, with all the advantages that go with it, even in Miami.
From books to buy, to real estate people, to lawyers, connected to this site. Who is really making the money here? I don’t think it is the VIP Members.
As I said, all unfounded, but to me and just to me, points fingers to the folks assoicated with the site.
EBMYes you are right it is unfounded! In some of the areas where the consitration of gringos and foreigners you are right the prices have become staggering.
How ever I have to say there are still some good deals out there and some developers that are not taking advantage of people.
Recently I sent a client of mine to a devloper where they had bought around 7.5 acres of land for 100,000 dollars. This was the beggining of a development and it was 3 lots. My client was able to put down 20,000 and finance the rest over 3 years. These lots have incredible views of the pacific and if they were in California would go 10 times the price that he bought for them. My client is planning on selling two of the lots and that would pay off his lot and have some money left over with out price gouging! The homes in these developments are going for 160,000 to 200,000. I am very happy to say that there are some developers that want to make money but also not to over price and take advantage of the market.
How ever on the other side of the coin, I know of a developer in Punta Dominical that was able to get investors to invest in a land development. He is going to sell the lots for around 130,000 a piece! I thought this guy was crazy and since this was his first project in Costa Rica I think he will come across a lot of obsticals before it is finished! I personally would not send any of my clients his way!
ebmfla:
The “people” of WeLoveCostaRica.com is ‘me’ – Scott Oliver and nobody else. As is made CRYSTAL clear on this site, I don’t personally sell real estate so it’s puzzling how you might come to the conclusion that I am doing my “own pricing.”
I also do not get paid a dime from the attorneys that I recommend on this site – NOT A PENNY! Although yes they treat me well and give me advice when I need it.
And yes! After shipping I make $7.71 on each book that is sold on the website… Whoopdedoo! What’s your point? Are you suggesting that I should give away my books? Isn’t that what all the most successful authors do?
And it’s easy to find exceptions in any market and then extrapolate on that:
I paid a grand total of US$93,290.17 for 4,300 square meters of picturesque land (46,268 square feet – just under one acre) in a gorgeous area of Costa Rica which includes a two bedroom, one large bathroom 1,638 square foot Cypress wood vacation home that was built on it… I have already been offered US$149K for it and I turned it down.
By all means extrapolate on that!
Can you find that in Miami?
Scott Oliver – Founder
WeLoveCostaRica.comOk, Now we can really talk. I do believe you are really concerned about not letting “us”, your members be taken advantage of. And yes your book for 13 bucks isn’t making you a millionaire. yes, I did pick out two articles that deal with very high prices.
Believe it or not, there are folks out here that only have Social Security to live off of and maybe, just maybe sell there home, car, furniture and make $150 or a little more. However we have our dreams of coming to paradise and hope to make it without eating rice and beans, three times a day. Jim Cameron and Martin Gill could perhaps look harder and find some Tico’s selling a small home near a city for $65,00 or so. I am sure the’re are around. However it is just easier to find the ones that people with a lot of money, compare to some of us and sell them a large morgage. Many people from the upper states have had their homes for many years and now sell them at a really good price. A friend of mine paid $180,000 years ago on Long Island an sold it for $425,000.Then come to CR on Social security and make it. But Scott, ask people here, your members. If you kenw these two places were to high, why put them in your letter. Show us some like your home.
If you know the two places I talked about are exceptions, then please,please, so us some lower prices ones. We alredy know paradise when we see it.
Best Wishes, to you always.I appreciate what you are saying ‘ebmfla’ but obviously I can’t force the real estate brokers that I recommend to go out there and only try to spend their time finding $75,000 properties when they will make far more money and spend the same amount of time selling $375,000 properties and there’s LOTS of people buying properties of that price and more. That’s capitalism no?
There was a time a few years ago when I recommended a couple of brokers because they focused on the more affordable end of the range but as always happens, as they became more successful, they started working with more expensive properties and will no longer even bother to reply to emails for someone looking for a $90K home.
My goal with my book and with my website is to try and give people the tools they need so that they can try and find these ‘deals’ themselves. I paid Vicky to write articles about how to translate the La Nacion advertisements from Spanish into English…
As it is, I choose NOT to feature a big percentage of the very expensive properties they send me…
Scott Oliver – Founder
WeLoveCostaRica.comI have just posted a $130K top floor condo in Santa Ana which you can see at
Scott Oliver – Founder
WeLoveCostaRica.comScott, I would have to say that you have one tool that you have not mentioned and that is George!
If you really want to find propertys and developments that you can retire on SS than you must take a loot at George Lundquest tour. There are many developments in San Ramon that will not eat at your back pockts. These developments George will take you too and not try to up sell you like most realtors will.
I have to say though that this shows how some realtors are unprofessional and only see dollar signs in their eyes when they don’t listen to their clients. If this happens to you, you get out of their car and start looking for a realtor that will listen to you and what you want in price range.
Scott had a lovely Log Home on this site for about a year at a very reasonable price. Well under $100,000. Why it remained for sale so long baffles me because, we bought it. Thanks again Scott. James.
I think the most valuable service this website offers is simply the forum. Scott, both good and bad – but mostly good, is very vigilant in monitoring this board and keeps it very informative and likewise a great place to know a bit of the people moving to Costa Rica. Although the censorship can squash opposing views, its a necessary step to keep things civil.
Its very hard to say if this website truly does offer good RE service, but its referral is better than no referral at all. As for RE prices, if you don’t do your homework, then definitely you can make tremendous mistakes in RE investing. This is what’s happening now in the United States where everyone seems to have invested in houses. Its all starting to unravel now, and there’s even a website that keeps count on the number of bankrupt mortgage lenders (last count around 40).
When I first joined this site, I was a bit concerned about the real estate prices I was seeing here. All of them seemed to be way beyond my budget that I will have when I retire in three years. So I sent an email to Scott asking if he thought in four or five years I really could find a small nice house for under $60,000 with a banana tree. He wrote back to me very clear and said “absolutely!” He did recommend I start with his books which I eventually did order from him. After they arrived I spent many hours pouring over their contents to see what new things I could learn from his approach to living in Costa Rica.
So this is what I learned from all of this, you must do your own homework! For example, I have over forty websites in my favorites that I go through once or twice every two months checking for houses in my price range. Also, I have about four or five that I check every week because I have made contact with their owners. These are people who I will meet up with when I am in Costa Rica in May. Based on Scott’s advice, I have offered two things for meeting these people: first, I am clear that I am not able to buy at this time; and second, if they are willing to let me buy them lunch while we discuss some of my favorite properties on their website, then I would like the opportunity to contact them when I arrived for my visit. Now one has turned me down so I plan to buy them their lunch in order to learn from them what is going on in the area where they sell real estate. Part of that discussion will be why some of the sites have very nice houses for very reasonable prices that don’t sell. I think I know the answer but I want to hear what they have to say about their market, the houses they represent and why some of the homes haven’t sold for a very long time.
My point is simply this, you need to do your own homework and develop your own leads. When Scott told me I could find a home for under $60,000 with a banana tree, I understood that this is my job to find this goal for myself. Also, in all the cruising around I have done on Costa Rica real estate sites, I have marked a few that have very interesting rentals for follow up in three years when I move. Also, I have made it a habit to cut and paste interesting information or stories I have seen on this welovecostarica.com for future reference. When someone recommends a Tico professional, I make a note of who that person is and try to glean as much information I can so at a later date, I could contact them directly.
Finally, I think Scott can only show us the mountain; it is our responsibility to walk the twist and turns of the path to our goal.
Tom in Portland
As long as you remember Tom that we are talking about a Tico styled home in a Tico area, there certainly are not any “developers” building “gated communities” filled with luxurious $60K homes
Scott Oliver – Founder
WeLoveCostaRica.comThanks for the reminder Scott! Actually I am moving to Costa Rica to live a Tico lifestyle as much as I can, so a grated community is something that doesn’t fit with my view of my life. Personally, I don’t need a 1,000, 2,0000 or 3,000 square foot house for the way I like to live. I tend to live a more concise life then most Americans is my impression. I only need a corner for my shrine, a few bookcases, a bed, small kitchen and an area to play ball with my dog and I am happy. Since I a baby boomer almost to late to the saving game, I hope to spend my last dime about 20 minutes before I enter the “bardo.” So you can see that I am clear that I would not necessarily fit into a gated community. A small gated Tico house, well that is a different story.
Tom
When you are here the first time all “gated communities” look the same. But there is a big difference in “condominium” and “residential”.
Not only in price but also in laws and regulations.
Cancertom and Scott,
I do disagree with you regarding gated communitys with 60,000 dollar homes.
My brother in-laws do live in a gated community with a couple of gaurds in Tico homes. They live in Cartago area near the main highway right across from the big grocery store. This is a development that is on the way before coming into the city of Cartago.
In our neighborhood in Tres Rios, there is a new development that does seperate their development with a gate and gaurds and this is 100 percent ticos. These homes are around 40,000 to 80,000.
How ever don’t expect to beliving by any gringos! This is 100 percent tico homes small lots and a lot of concrete!
If you want a nice small home with a normal size yard you can find them in the city area of most towns. In Tres Rios we have many of them in town.
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