What sort of decline/increase have you see in the number of potential buyers who have contacted you in the last six months in comparison to the previous year?
There was a major decrease in the number buyers between November 08 and January 09. Basically we were dead in the water. After February 1st 2009 buyers leads have picked up about 30% for this year but I would say we are still about 60% down compared to the amount of prospective buyers that we were getting last year.
How has the number of sales declined or risen in the last six months in comparison to the previous year? Our overall sales are down by about 60% from last year.
What is the easiest real estate sale for you in your area right now? Finished, well priced units or homes in the price range between $250-$400K
Where do land prices stand now in your area in comparison with this time last year? Most of the land owners in the southern zone are holding strong but a few have dropped their prices by up to 25%.
Where do finished home/condo prices stand now in your area in comparison with this time last year? In a few cases down about 15%.
What sort of real estate product is currently available in your area? There is plenty of land deals with great ocean views between $100-200k
What are you lacking? We are lacking good quality finished condos, homes, villas, in the $200-500k range.
Is there an oversupply of any particular product? Plots of land.
Where are the best opportunities right now in your area? The best deals to be had are with the sellers that are willing to adjust their prices with the slowing world economy which is great for patient buyers looking for a deal.
How do you feel the real estate market will perform in your area for the remainder of 2009? “What is transpiring right now in the world is the once in a lifetime meltdown. I believe eventual a debasement of all world currencies will take place.
The best holders of value in my opinion to get through this will be precious metals, real estate, and art. On the real estate end of things – unique properties including beach front and large ocean view will hold special appeal.
There are other reasons why I think Costa Rica will be a great long term investment and this is why if sellers adjust to the market 2009 should be a good year. This is a buyer’s market now and not a seller’s market as we have experienced over the last decade.”
Real Estate Market Update With Daveed Hollander in Dominical. March 2009
Article/Property ID Number 2137
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