My Recent Blog Posts

Casa de las Cascadas, Manuel Antonio So my family has definitely gotten into the HGTV channel and watching the transformations and construction processes.  Last night, the family was watching some show and I both my girls and my wife began commenting on just how amazed they were with the fact that 90% of the homes we see being built and remodeled in the USA are wood frame, light wood or drywall separations. The speed and flexibility this provides is amazing and we began to talk about how BEAUTIFUL these homes were completed, the finishes, textures and aesthetics of both the exterior and interior of the homes are inspiring and certainly create a sense of longing to be able to live and share in such amazing spaces.

During a beautiful evening rain shower last night I began thinking about my beloved Costa Rica, which literally means Rich Coast. More than just Costa Rica, the significance of the world Rich stuck in my mind and how we define wealth and the impact on our quality of life.  During these challenging times in the world, where the financial stress, emotional stress and social unrest are at levels which are clearly unsustainable, defining how each of us define “wealth or being rich” might just be the key to our survival and ultimately our happiness.

Having just completed a webinar with some of my colleagues from around the globe in Who’s Who in Luxury Real Estate, some important clarity and insight became remarkably clear to me.  One of the undeniable realities and results of the current pandemic is that there has been an enormous SURGE in investment, real estate interest and migration to areas which have traditionally been resort markets OR more rural areas.  The quarantine and resulting effects have shown much of the world the enormous blessings and quality of life that having open spaces, connectivity with nature, activities, and wellness brings to your life and that of your family.  As we dialogue with brokers from metro centers where real estate sales, closings and movement are almost uniformly WELL below averages, demand in more rural or destination markets across the USA are on FIRE.  Top Brokers like Brian Hazen from Aspen, Colorado, Monica Monson from Scottsdale, Arizona, and Nancy Tallman from Park City, Utah all outlined record-breaking volume, shortages of 50% or more in inventory and ongoing demand from clients seeking opportunities in these region market places.

The depth and impact of the CoVid virus globally and in our local community of Manuel Antonio is impossible to ignore.  The closure of the borders during what was an incredibly strong high season and the extended nature of the tourism shutdown has had a tremendous impact on the hotels, restaurant, tourism providers, transport companies and virtually everyone living in these coastal communities whose economies revolve around the tourism dollars coming in from around the world.  There is certainly no way to lighten the load which the total shut down has brought to our community, but in the midst of crisis, the solidarity, ingenuity and bright future of our community have also become much clearer to anyone in the area.

The phrase “Pura Vida” has always meant a great deal to anyone who has experienced the lifestyle, peace, beauty and warm-hearted people of Costa Rica. In the midst of a world overrun with fear, division, and uncertainty living the pure life, or Pura vida, has taken on an entirely new meaning. Todd and I are truly honored to be able to share some insight with each of you as to how Costa Rica is doing in the midst of this global pandemic, along with our professional opinions as to how we will emerge as economies began reactivation and where opportunities will be found for our valued clients.

Today I got a call from a good friend and respected colleague, Jon Wade, who lives in one of my favorite towns in the world, Steamboat Springs, Colorado. We were catching up on family, friends and business as he is in the real estate business as a broker as well.  Much of our discussion always migrates naturally to how blessed we both are to live in places where people aspire to vacation and live someday. The open spaces, healthy lifestyle, small town feel and majestic natural settings are elements which we, and anyone who visits, revel in each day. The magical draw of these elements has been elevated during times of social distancing and self-quarantine as we are lucky to comply with all these measures for our the security of our families and communities, but also get to ride in the wilderness, hike, experience the power and perspective which only something as grand as mother nature can provide. As we both patted each other on the backs for being so blessed our dialogue turned to business and how we were adapting.

One of Costa Rica’s BEST KEPT SECRETS is a small town on the Southern Pacific Coast which combines a magical setting of rolling hills, stunning ocean views, an amazing gastronomic scene,  a diverse international populace and a strong sense of community. As one reads the highlight reel of attributes it is almost impossible not to be intrigued by a place which has garnered very little public attention but which has evolved into one of the most magical places in Costa Rica to live, retire or to visit and experience this laid back and sophisticated destination. Where is this place, how can I visit, invest and experience this setting and lifestyle you ask…. OJOCHAL.

In some of our previous blogs, we talked about the nuances and some key points when considering a hotel purchase in Costa Rica. I would like to share a bit about several different markets here as they relate to hotel opportunities and some of the nuances to consider when thinking about a hotel purchase in the Manuel Antonio area.  Owning a hotel in Manuel Antonio puts you into a privileged position as an operator in a destination whose supply and demand dynamic is one of the most PURE anywhere in the Country and in all of Central America.   One might think to jump to room count, amenities, cash flow, etc. when searching for a hotel investment in Costa Rica but the MOST important first step is finding a destination, community, marketplace and lifestyle which you want to be a part of and which you want to share as an extension of your business with your clients. The Manuel Antonio area offers a very unique fusion of an authentic local community with rustic sense of charm, adventure and history, along with a robust set of infrastructure, international flair, gastronomic diversity, etc. which is incredibly charming.  

Being a real estate agent in paradise is about helping dreams become reality. It is an awesome responsibility and one which should be taken with great care and thought.  One of the most common dreams we here in my office is about owning and operating a hotel in a tropical destination, hotels for sale in Costa Rica. No more time in the office cubicle, no more traffic jams, no more wasted time in board meetings….just your piece of paradise and the opportunity to share it with people who are paying you to escape their daily grind.  Waking up to welcome everyone down by the pool to some organic coffee, fresh fruit and to share stories and plan the days adventures.   Welcome everyone back in the afternoon, happy hour by the pool, sunsets and story telling of the adventures lived... Ahh, sounds so idyllic and the reality is that it can and should be.. but the best of dreams are built with your head in the clouds AND your feet firmly planted on the ground.

In working on a market report here to provide an overview of some of the present market drivers and conditions in the Manuel Antonio area, I took some time to reflect and discuss with our team the duality of a ROBUST market and volume of sales, combined with the reality that we have a lot of inventory which has been for sale for years and continues to languish on the market.  The reality became clear both with discussion amongst our own team and with a host of colleagues in the area... BUYERS ARE THERE, FUNDS ARE IN PLACE, BUT THERE REMAINS A REAL DISCREPENCY BETWEEN BUYERS EXPECTATIONS OF WHAT THEIR MONEY WILL GET THEM AND SELLERS EXPECTATIONS AS TO WHAT THEIR PROPERTIES SHOULD BE WORTH.