I’m very excited to announce that our Coldwell Banker Jaco office has now merged with the 2 Costa Rica Real Estate office in Jaco Beach. This combines two of the strongest and biggest real estate offices in the country and allows us to work together to offer both better services and cover a broader market. With very established and respected offices already in Manuel Antonio and San Jose it allows us to more effectively serve the entire Central Pacific and Central Valley, a very important step as the two markets continually overlap more and more each year. I’m thrilled to join the entire 2 Costa Rica Real Estate team.

Please excuse some of the changes to the site, as I work to switch over all of the branding.
David Karr now with 2 Costa Rica Real Estate

Here is the press release
Integrity, personal service, knowledge, excellence, these are all terms which describe the team at 2 Costa Rica Real Estate, and that team just got stronger.

Lisle Head formerly the broker/owner of Coldwell Banker Jaco Beach and his team of David Karr and Nikita Mohammed have now joined the 2 Costa Rica Real Estate family. “We are very excited that this new partnership will allow us to better serve our clients and allow us to work more closely with the San Jose and Manuel Antonio markets”, said Lisle Head who will now be managing the Jaco office. Founded by the entrepreneurial team of brothers Todd and Scott Cutter, the firm has earned a reputation as an industry leader due in large part to its focus on helping each client to establish a clear understanding of Costa Rica as a destination and investment environment.

Our office is loccated at Plaza Coral in downtown Jaco and we invite you to contact us if you have any questions about this change. 2 Costa Rica has three offices all of which operate under the brokerage and ownership of Todd and Scott Cutter, brokers of the 2 Costa Rica Real Estate Escazu and Manuel Antonio offices, respectively.

We look forward to serving you as clients and/or colleagues and look forward to great success and service in this coming season. We encourage you to visit us at our same site cb-jaco.com and we will continue to make changes and updates over the upcoming weeks.

I just did a quick interview with welovecostarica founder Scott Oliver, discussing the real estate market in the Central Pacifiic, you can read the interview here below.

I recently caught up with David Karr, one of our recommended realtors for the Jaco & the Central Pacific Region, to get an updated report on his area.

David Karr is a professional Realtor living and working in the popular beach town of Jaco on the Central Pacific coast of Costa Rica since 2005. He is married to a Costa Rican lady, has permanent residency and is legally allowed to work as a professional real estate agent. As a professional real estate agent David covers Jaco and the surrounding areas which include Punta Leona, Hermosa and Esterillos. He is very knowledgeable about the entire Central Pacific region but specializes in Jaco Beach and properties in the Los Suenos Resort & Marina.

Please give us your comments on the current real estate market conditions in your area and include prices where possible?

There continues to be demand for properties under $200,000, properties with financing available, and of course a number of buyers searching for tremendous value. The market continues to be a buyers market, and while there are great values to be found thoughout the region, the best of the best is clearly what has been selling, specifically those with prime views and ideal locations.

I think 2011 is a great barometer illustrating this point, as one of the best sectors selling this year has consistently been beachfront and oceanview properties. “In the past 6 months we have had 9 closings with an average sales price of $420,000.” Shawn Fletcher, Sales Manager for a developer which has 6 beachfront developments in Jaco Beach. “Five of those sales were to clients who live in Costa Rica which is fantastic because before the Caldera highway was complete, virtually all of our sales were made to clients outside of the country” added Fletcher.

I feel the entire Central Pacific has significantly benefited from the new Caldera highway making the drive from San Jose to Jaco just one hour. This has stimulated demand and sales from both Costa Ricans and expats who live in the San Jose area. Many of the most motivated beachfront sellers have sold in the past two years, so while there is still value to be found, it’s uncommon to negotiate much more than 10% under the listing price. With vacation rentals in most communities reporting an increase of 20-35% and improving infrastructure, many buyers are understanding the strong potential for rental income in the Central Pacific region.

What do you think makes the Central Pacific an attractive destination?

This area is all about comfort, convenience and infrastructure. Jaco is obviously the hub and center of all of that, as it provides services and amenities that most people want, but I think its important people realize choosing to be in this area is more than Jaco. This region is diverse, white sand beaches of Punta Leona, the Los Suenos resort with its 18 championship golf course and marina, rustic surf towns like Hermosa and Esterillos or beachfront living in Jaco, the region truly has it all. And if you get a little stir crazy the city is just over an hour away.

How has the Caldera Highway impacted your area.

The entire region has benefited, but Jaco has definitely seen the greatest impact. Vacation rentals in Jaco have seen a significant increase in demand from San Jose residents coming to the beach on a more regular basis. The short distance is changing the landscape for the traditional Costa Rican family vacation. Many Costa Ricans only went to the beach once or twice a year, now many are coming on a regular basis, with the new highway the beach is just an hour away so it’s an easy get away. Condo rentals are also an affordable and ideal fit for Costa Ricans, as they can travel in large families and all stay together. This is in turn is helping rentals, which helps sales. The increased traffic is also leading to new and improved commercial development. Remodeling of existing establishments, new restaurants, new cinema and theater (Jaco just opened a new cinema and will soon open up a new performing arts theater), all of this is a result of the highway.

What do you see moving forward?

I think you’ll really start to see Jaco transition into becoming the official beachtown of the Central Valley, and start to see more of an overlap of the two makets. We see more and more San Jose residents who make this area their weekend home, looking to escape the city. More traffic, more visitors, means more money coming into the area and in turn that will attract investors, new businesses and continued improvements. Sellers as a whole still aren’t dropping their prices much, I think you’ll see an occasional deal here and there, but properties under $200,000 will still be very limited in supply and high in demand.

Originally posted here

One of the best parts of living in Jaco Beach is the number of different restaurants we have to choose from. Japanese, Italian, Argentinan, Mexican, fresh seafood, there are plenty of options to and lots of great restaurans. Since it’s now football season though I thought I’d highlight one of my favorite places to eat and watch the games. Los Amigos is located right in the middle of Jaco. They have great food, great service and think it is the perfect place to watch any sort of sporting event or to simply go out to and have a few drinks and dinner. Below is more information on their story, their menu, and a link to their site.

Located in Playa Jaco, Costa Rica…Smack Dab in the center of downtown Jaco. Los Amigo’s proudly offers a non smoking air conditioned dining and drinking experience as well as open air outdoor seating for all you dedicated smokers. Serving lunch and dinner from 12pm – 11pm Sun thru Thurs and 12pm – 1am Fri & Sat 365 days a year!

7 – 42” plasma TV’s, 3 projectors, 6 satellite feeds hosting every sporting event known to man or women, an extreme sports VOD (Video on demand) system and local DJ’s…mix this with over 45 local and import beers, a full liquor bar and some of the best food & service on the Pacific coast and you really don’t have an excuse not to join us.

The concept of Los Amigos began in early 2004 by 3 friends from Florida as just another stupid “Off the wall idea” that would probably never see the light of day….

Well, after months and months of expensive traveling, time consuming research , surfing, partying, more research, surfing and more partying….we managed to collect a mountain of invaluable statistical information about Costa Rica and Jaco which in the end actually proved to be worth about $1 dollar….

Now even more fed up with the congestion of everyday life in Florida we abandoned the conservative way and turned to a more reckless an inescapable approach…we liquidated our measly belongings, gathered our pennies together, said “SCREW IT” and jumped head first into this hopeless idea we now call Los Amigos.

Acquiring all our permits and licenses as well as remodeling this “Casa Viejo” into what you see today, took us a snail crawling 9 months, with a “VERY” special thanks going out to a few law breaking associates of the local governmental body for their time wasting contributions of oversized ego’s, ignorance and greed……..Thank you!!

So, Los Amigos officially opened its doors in August of 2005 with an enthusiastic response by locals and visitors alike. Since we started Los Amigos with very little restaurant experience, we have used the ups and downs of the past years to adjust our atmosphere, staff and menu with a desire to bring you the most unique eating and drinking experience you can find in Jaco. If we do stumble and disappoint you please contact me chris@losamigosjaco.com your satisfaction is more important to us than your dollar….

As you will find, our menu is filled with a variety of choices we have created using international, American and local flavors. Although we do offer a few dishes that are cooked using a flash fryers all of our dishes have been created with freshness and healthiness in mind. From our “BIG ASS smoothies” and gourmet wraps too Thai dishes, fresh seafood’s and flame grilled steaks we always try to give you an experience rather than just a plate of food.

See their site and menus here Los Amigos Jaco

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In the past I have spoken about the great outdoor activities found in the Central Pacific region of Costa Rica. Well last weekend we saw some of Costa Rica’s most dedicated and fit athletes show off their stuff at a triathlon sponsored by the Los Suenos Marriott in Herradura. Triathlons are one of the most challenging races around, pushing athletes to compete in swimming, running, and bicycling. What made this triathlon a little different was that it was eco-friendly.

Before the event all athletes will had the opportunity to plant a tree, provided by the Los Sueños Marriott. These new trees will help ensure that future generations can enjoy the splendor of the natural environment for years to come. Athletes also released baby sea turtles back into the wild.

Not only will these efforts go a long way in preserving the natural environment, but these green initiatives will help to stay true to Costa Rica’s beauty.

The triathlon course featured a swim race from the Herradura Beach which is located in front of the Los Suenos resort, with a transition in the blue zone, set up at the resort. The triathletes then proceeded to the biking portion of the event, and finished with a sprints to Jaco and Hermosa. Please call 1.707.962.4482 or email here if you have more interest in living or vacationing in Costa Rica.

Photos courtesy of Lead Adventure Media, Images by J. Andrés

If you follow Costa Rica much, you probably know that October is a very rainy and very slow time of year for tourism and business.  For some it’s a good time to start preparing for the upcoming high season and for others it’s a great time to begin planning their vacation for the Costa Rica summer months, but for astute real estate investors, this time of year presents something else, the best time of year to purchase real estate.  Let me explain why.

One of the slowest times of year in Costa Rica is the beginning September till about Thanksgiving.  The reason for that is quite simple, it’s the time of year we see the most rain, but more importantly it’s when schools start up in the U.S. and really marks the end of summertime in the U.S.  Naturally many families get tied up with starting up school, activities, and other priorities that just take away from even thinking about vacations, let alone buying real estate in Costa Rica.  This of course leads to a drop off in interest and leaves a lot of sellers anxiously waiting for the upcoming high season in hope of making a sale.  Meanwhile these sellers are left holding their properties for the slowest time of year meaning little rental income.  All of this gives you great leverage as the buyer.  What’s also key to point out is that sellers always feel they can command more  during the high season, so waiting 3-4 months can actually produce a big swing in price.  On top of all that, purchasing this time of year can be structured so you can close between Thanksgiving-mid December, positioning yourself at the perfect time to rent out your property at the peek of high season.  Plus, lets not fail to mention that flights, hotels and travel costs are much less during October.

If you are thinking of purchasing in Costa Rica in the next few months and are in position to move at anytime, I highly encourage to talk to your realtor to review the best deals on the market and see if you can make October or November your favorite time of year in Costa Rica.  If you are serious about purchasing real estate in Costa Rica and could close in the next 30-60 days please contact to consult on the best deals in the Central Pacific.  David Karr 1.866.403.1345

Why Buy Costa Rica Real Estate in October/November?

• Lower Travel Costs
• Better Leverage for Buyers
• Anxious Sellers
• Just in time to Begin Renting for Upcoming High Season

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A recent trip to Los Angeles reminded me just how lucky I am to live in Costa Rica. I’ve lived here since 2005 and I feel very fortunate because of the amazing lifestyle my wife and I live. Healthy eating, great weather, a calmer pace, less stress are just some of the reasons why I love living in Costa Rica. If you are considering making the move to Costa Rica, or would just like a vacation property I want your business, take a look at this video and contact me if I can assist YOU with making the move.

Financing in Costa Rica

Costa Rica banks have always been very conservative when lending money, in fact it’s one of the main reasons why you don’t see the real estate market saturated with foreclosures. Traditionally, if foreigners were able to secure financing with a Costa Rica bank it was often difficult and expensive, and at this time while rates are lower, it’s still nearly impossible for foreigners to be approved for loans.

U.S. lenders aren’t quite forming a line to lend money for Costa Rica real estate either. So how do foreigners purchase property in Costa Rica when they don’t have cash? This is a question that many people just starting to explore Costa Rica real estate are asking. And as the amount of cash buyers seems to be dwindling, it’s a very new and evolving trend in Costa Rica real estate.

One of the most interesting development in our market is the need and request for some sort of financing, and the market is making adjustments to handle these requests. What was once a strictly cash market is now changing as we see more and more sellers open to offer some sort of seller financing. More and more developers are offering some sort of financing. Rates aren’t low, figure on somewhere between 7-9% over 30 years and plan on some sort of balloon payment in 3-5 years. But for now that is addressing the need for many. Most people looking to purchase have at least 20-50% to put down and are simply needing some sort of bridge till maybe they receive a pension or maybe sell a property back home that is on the market.

The bottom line is that sellers and developers are now much more flexible and negociable with offering some sort of financing. So don’t be discouraged if you aren’t a cash buyer, but just be aware you will need a solid amount down and may lose some leverage when negotiating price.

One of the first steps in purchasing real estate in Costa Rica is making an offer. In Costa Rica it’s really not all that different than any other place in the world. Each case might vary a bit, but what you can and should expect when you have found the property you want to purchase is having your realtor place a formal written offer which is typically accompanied with some sort of deposit held in escrow. I often hear of clients making informal offers requesting me to ask the seller if he would accept X amount. Negotiations simply don’t work that way. Serious buyers need to perform as such, and serious buyers take the time and steps to show they are ready to move quickly and appropriately. Presenting a formal written offer, along with demonstrating you already have funds in the country not only proves to a seller that you are a serious buyer, it also provides leverage in which your realtor can negotiate. The market in Costa Rica continues to see some great buying opportunities, however many of those are not discovered until someone is willing to step up and make an offer. If you would like to learn more about the purchasing process in Costa Rica or would help finding a property in Costa Rica please contact David Karr for more assistance.

I think one of the biggest keys to happiness in life is learning how to be grateful and content with what you have and I know that is not always easy. In fact as an American expat living in Costa Rica, I feel many of us sometimes forget just how much fortunate it we really are to live here. While some people simply like to complain of what they don’t have, or perhaps what isn’t working for them, I want to take a second and do the opposite.

Last week I had some family visit us, where my wife and I did the usual gracious host and tour of Costa Rica. After they left I had a chance to reflect on not just what a wonderful vacation we just had, but just indeed how lucky we are to live in such a stunning and beautiful country. We traveled throughout the country, from the amazing thermal hot springs in Arenal to the pristine beaches and lush rainforest in Manuel Antonio. We watched stunning sunsets, amazing surf competitions, hiked, ziplined, all while enjoying perfect weather. During their stay my family stayed a few nights in Jaco Beach and a few nights in the Los Suenos Resort and left saying this was the first vacation where they left truly feeling relaxed and rejuvenated. Not only am appreciative of the time we spent together, but I’m grateful to be reminded of just what a wonderful lifestyle we have and how lucky I am to be living in Costa Rica.

Daily stresses  and workloads are really leading more and more people to seek out a calmer and more peaceful lifestyle in Costa Rica. Eating healthier, getting more exercise and learning to relax are some of the keys to living and feeling better.  Costa Rica caters well to this sort of lifestyle and vacations.  If you enjoy surfing, Costa Rica offers countless surfing beaches for all different levels of surfers, from amateur to professional.  One of the most popular surf destinations in Costa Rica is Hermosa Beach, just a couple miles south of Jaco Beach.  Hermosa was home to the IGA World Surf Championships two years ago, and has surf competetions every Saturday.  Many people plan vacations to Costa Rica just to surf, where  you can find Costa Rica surf camps that set up an entire package or retreat for your trip.  If that’s what you are looking for the girls at Del Mar Surf Camp, (video below) do it better than anyone else.  For those who just might want to try some surfing on the fly, board rentals and surfing lessons can be found virtually in every beach.  Also easily found in the Jaco beach area is plenty of Yoga instructors and classes.  Yoga has become quite popular the past few years and the backdrop of lush rainforest and tropical greenery couldn’t really be a better place.  Contact me if you would help planning your next trip or move to Costa Rica.