{"id":590,"date":"2014-01-09T14:40:51","date_gmt":"2014-01-09T14:40:51","guid":{"rendered":"http:\/\/www.propertiesincostarica.com\/blog\/?p=590"},"modified":"2014-01-09T14:40:51","modified_gmt":"2014-01-09T14:40:51","slug":"year-in-review-2013","status":"publish","type":"post","link":"https:\/\/www.propertiesincostarica.com\/blog\/year-in-review-2013\/","title":{"rendered":"Year In Review \u2013 2013"},"content":{"rendered":"<p dir=\"ltr\">by\u00a0Rod Martin<\/p>\n<p dir=\"ltr\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-597\" title=\"InfographicSalesPercentage\" src=\"http:\/\/www.propertiesincostarica.com\/blog2\/wp-content\/uploads\/2014\/01\/InfographicSalesPercentage.jpg\" alt=\"\" width=\"300\" height=\"143\"  style=\"float: right; margin: 5px;\"\/>The end of another year. \u00a0Time for gratitude and reflection, both personal and professional. \u00a0In terms of business, it allows us to chart this <a href=\"http:\/\/www.propertiesincostarica.com\/\">Costa Rica real estate<\/a> market we deal with on a daily basis.<\/p>\n<p dir=\"ltr\">After 5 years of trickling activity and decreasing property values, the \u201chigh season\u201d (roughly the end of November thru March) saw an uptick. \u00a0The big question on our minds this time last year was \u201cwill it continue throughout the year or will the market be slow until next \u201chigh season\u201d. \u00a0The answer\u2026 was resoundingly positive.<\/p>\n<h2 dir=\"ltr\"><strong>Sales are up<\/strong><\/h2>\n<p>As you can see in the graphic (A1), the year over year increase in sales (think- buying) was 15%. \u00a0Market movement\/growth was basically flat lined for the previous 4+ years, so this upturn was encouraging news. \u00a0The overall market is improving, but let\u2019s look a little closer at the internal market dynamics.<\/p>\n<p dir=\"ltr\">Home sales led all categories on the Costa Ballena, a gorgeous stretch of coastline in the <a href=\"http:\/\/www.propertiesincostarica.com\/properties\/dominical_real_estate_for_sale.html\">southern Pacific zone of Costa Rica<\/a>. \u00a0Not only was the number of sold houses impressive, but two luxury estates over $2,000,000 sold, as well. \u00a0Although less than 50% of these new owners are relocating after their purchase, over 50% are smartly using it to generate revenue. \u00a0The vacation rental market is very strong on the Pacific Coast. \u00a0People want turn-key options, and this is not limited to affordable villas and luxury estates.<\/p>\n<p dir=\"ltr\">Six hotels sold on the Costa Ballena in 2013. \u00a0These ranged from low budget hotels to those valued at over one million dollars. \u00a0Like the vacation rental market, profitable hotels allow people a way to pay bills and, in some cases, start a new life!<\/p>\n<p dir=\"ltr\">I believe this is the first year that turn-key options (houses and hotels) have out numbered raw land sales, if only by one or two. \u00a0One trend we often see is when house hunters can\u2019t find the right home, they buy and build it! \u00a0This is a smart strategy since you have the freedom of choice for location and design of the home.<\/p>\n<h2 dir=\"ltr\"><strong>More good news for buyers<\/strong><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-596\" title=\"InfographicSalesListPrice\" src=\"http:\/\/www.propertiesincostarica.com\/blog2\/wp-content\/uploads\/2014\/01\/InfographicSalesListPrice.jpg\" alt=\"\" width=\"200\" height=\"137\" style=\"float: right; margin: 5px;\"\/><\/p>\n<p dir=\"ltr\">Like the sunsets, the news just keeps getting better and, in fact, it\u2019s two-fold. \u00a0First, many home owners who have been sitting on the sideline now see the market picking up and are listing their houses with us. \u00a0\u00a0More listings = better selection. \u00a0Second, property values are still low. \u00a0As with any real estate market, there is a time delay between uptick in sales and stronger property values.<\/p>\n<h2 dir=\"ltr\"><strong>Purchase price vs. List price<\/strong><\/h2>\n<p>As reflected in the second graphic (A2), many sellers are negotiable on their list price. \u00a0The average sale price is 13% lower than the list price. \u00a0Obviously, this varies depending on the sellers, their motivation, and fiscal elements like \u201call cash\u201d or financing. \u00a0As the market gets stronger, that percentage will disappear like the setting Sun over the Pacific.<\/p>\n<p>The 2014 \u201chigh season\u201d has already produced a lot of activity, and it\u2019s no surprise. \u00a0<a href=\"http:\/\/www.propertiesincostarica.com\/listings.html\">Fantastic properties at good prices\u2026 come take a look today!<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>by\u00a0Rod Martin The end of another year. \u00a0Time for gratitude and reflection, both personal and professional. \u00a0In terms of business, it allows us to chart this Costa Rica real estate market we deal with on a daily basis. After 5 years of trickling activity and decreasing property values, the \u201chigh season\u201d (roughly the end of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Year In Review \u2013 2013 - Properties in Costa Rica Blog<\/title>\n<meta name=\"description\" content=\"by\u00a0Rod Martin The end of another year. \u00a0Time for gratitude and reflection, both personal and professional. \u00a0In terms of business, it allows us to chart\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.propertiesincostarica.com\/blog\/year-in-review-2013\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Year In Review \u2013 2013 - 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