How to work with a Costa Rica Realtor, or a US one

By Kathleen Chiras, on June 20th, 2011

One of our wonderful buyer brokers in Costa Rica, Becky Clower,  had this to say about working with agents.  These are good points, so thought I’d repost some of her comments:

I want to sum up my years as a Realtor here in Costa Rica and kindly remind those out there to have courtesy and understand the following points:

Costa Rica Realtor Becky Clower

Costa Rica Realtor Becky Clower
  1. There is NO mandatory licensing in Costa Rica. There are, however, a few reputable organizations with voluntary licensing such as CRGAR (Costa Rica Global Association of Realtors) and CCCBR (Camara Costaricense de Corredores de Bienes Raices). Being a member of either or both of these shows that the Realtor that you are working with considers ethics, morals, networking with other agents and a future MLS system important. Very few agents in Costa Rica hold active real estate licenses in their home country. Even fewer of those worked as agents before coming to Costa Rica.

Costa Rica market heating up

By Kathleen Chiras, on March 6th, 2010

Our broker in Costa Rica says right now people are still looking for and buying fire-sale properties & trying to compare CR to Florida, but here the inventory is lower and most sellers are not desperately needing to sell.  Market is up 40% over this time last year.  Says a great ocean-view lot is going for $80 to $175K and good homes in developments can be found for $200-400K.  They ofer a complete turn-key experience with booking the trip to Costa Rica, helping select buy land or a house, & providing property management services.

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Costa Rica real estate values properties for sale

By Kathleen Chiras, on November 4th, 2009

Because Costa Rica has no multiple listing service and because many properties are held in anonymous corporations, it is very difficult for people interested in Costa Rica real estate to determine property values.  Real estate buyer brokers are able to help you determine the value of property for sale.

Market values are simply the result of what sellers are willing to sell for and buyers are willing to buy for. Knowing what those values are in Costa Rica without an MLS is very challenging. However, one of our buyer brokers who helps people buy proerty in the Jaco area shared that these closings have happened in the past 60 days:

Los Suenos Condo – $770,000
Acre Lot – $45,000
2 Bedroom Townhouse – $220,000
Beachfront Studio $213,000
Oceanview Lot – $100,000
3 Bedroom Home – $180,000
Beachfront Studio – $215,000
2 Bedroom Condo – $205,000
Oceanview Lot -$100,000
2 Bedroom Condo – $235,000

Costa Rica real estate market compared to US

By Kathleen Chiras, on March 5th, 2009

Yesterday I spoke with one of our best buyer brokers in Costa Rica to ask how things are going.  His response was “There are a lot of people shopping, but not alot pulling the trigger”. However, he states, “there are some incredible fire sale properties on the market right now.”

One example is a 26 acre parcel of land within walking distance to a beautiful waterfall and bordering a river.  It has gentle rolling pastureland and jungle trees and is within a 20 minute driving commute to a small town.  This piece of land is currently on the market for $55,000.

What scared off a recent buyer were other considerations–like the $25,000 or so it would take to get electricity to the property.  However, with the water resources on the property, he might consider doing his own mini-hydro project.