Three years ago we posted SNOWBIRDS IN COSTA RICA. Let’s catch up.
Ken still comes down every winter to snowbird in Costa Rica. He seems healthier and happier than when we first met. A local Tico, Bryan, looks after his condominiums for him and arranges tours for renters and guests. John and Raylene still visit two or three times a year, but perhaps because of school age children, cannot enjoy the true status of being Snowbirds except for brief visits. Ed and Kris are enjoying Costa Rica more. In addition to their condominiums at The Oaks, they recently bought a horse, which they board at a horse farm about four miles from The Oaks. The weather has been variable, but only within about two degrees Celsius. This past “summer”, which usually runs from mid-November through mid-April, was longer this year, extending until just three days ago, almost mid-May. It was slightly cooler than last summer, with highs usually around 33 degrees instead of 35 degrees (that’s about 91 to 95 degrees Fahrenheit). The people are unchanged here in Guanacaste, still peaceful and laid back. “Work” continues to be a four letter word, but that bothers me less as time goes by.
The foliage at The Oaks has developed nicely. Saving 70% of the trees during construction was the right decision. Bougainvillea is now flourishing, and Rox is helping by seeding some spice gardens. My favorite spice is hierba buena. Just so you don’t get the wrong idea, it is a native mint, excellent for mojitos, and with medicinal qualities. Not to be added to brownies.
Luckily, the rise and fall of real estate prices at The Oaks is only an echo of what happened in the U.S. More about the reasons for that later. Asking prices peaked on average at 50 to 60% above what our early Snowbirds paid, and since have fallen from the peak by about 30%. Fire sales within Tamarindo and Flamingo are clearing the inventory owned by distressed real estate owners, mostly from the U.S. It appears that the low point was reached about one year ago. There are still incredible bargains, but, the most distressed owners having already sold, there are fewer than last year. No mistake, it is still a buyer’s market in Costa Rica, but a recovering one. So far as we know, The Oaks has had three fire sales, but in each case the unit was snapped up before the public even became aware of it. In one “fire sale”, a speculator from the U.S. actually made a profit on her “fire sale”.
The biggest changes on the ground, after three years, are that despite my cynicism Costa Rica has improved infrastructure in highly visible ways. The three improvements that come to mind are the dramatic improvement of the hospital in Liberia, expansion of the airport in Liberia, and construction of a new CIMA hospital 40 minutes from The Oaks, behind the Do It Center. On the not so shiny side of the coin, we continue to wait for the road from Villa Real to 27 Abril to be paved.
Oh, and we now have rental units available for Snowbirds for next year. Ask us about our “rent to buy” program, where you can get your rent applied to your purchase of a Costa Rica property. You are not even restricted to a purchase at The Oaks, although we do encourage that. The only requirement is that you work with Green Seal Realty S.R.L. Green Seal will rebate 50% of its commission on sale to you, up to the amount of your rental. Contact us for details at (506) 2653 6331 or Skype name The Oaks, Tamarindo.