Signs of recovery.

Signs of a recovery.

In my personal situation regarding my real estate business, I was lucky to sell my home in NOsara in July. That gave me a little money to work with to start my new project, Loma Vista. 14 forested 1.25 acre lots with community pool & guest house and now that I have started, I need to fire sell something else, anything, to finish the project.

I think there are others in a similar situation. They have seen a little action and need a little more to continue and this is helping with momentum.

Generalizing even further, those who are sitting on equity in their properties have become realistic now with where the market is at. They have been waiting for a year and a half now and want to see some action. Those who are sitting on money are getting bored. I think both sides realize that the market is not going to go down any further and are ready to make deals……

This in a way, have made it easier for Sellers, because after the colossal hit our market took just months ago, if someone is out there looking to buy, they are serious buyers. Unqualified homebuyers or tire kickers are not so common now. The people I have encountered recently are serious.

CURRENT ACTION for Daniel Berkley Inc.  Finally, after 6 months waiting I have a lot under contract in Puerto Viejo, Limon. It is 700 square meters one block from the beach listed at $40,000 and a sale is in process.

I dropped the price on the spec-house on Playa Negra, Puerto Viejo Limon from $125,000 to $85,000 and now it is starting to get shown a lot. A lot of the people interested in the house, is also interested in buying the lot next door, which surprised me after so long of seeing no interest. Now, people with money that want to buy 2 or 3 properties from me are showing up at once. Most likely, of my inventory, the Puerto Viejo properties will move first based on the recent activity I have been getting.

I want this sale to happen, because it would be the difference between financing the construction of the community pool & rancho for Loma Vista or taking out a small business loan. For those of you interested in financing in Costa Rica; once you are established in the country with land, bank accounts and time visiting here, lending is getting easier. However, a small amount like what I am looking for, I am taking out an equity line of credit from my bank in the United States.

I guess, what I am saying is, if anyone out there wants a lot in Puerto Viejo, Limon, I take all major credit cards………

Current Construction, I got the quote for electric. To bring it, 600 meters will cost $10,700. I have paid and they are working on getting permits to start construction. I will probably have electric on my farm in the next 3 weeks.

In this moment the backhoe is there installing the water line from the local water tanks located 800 meters away Water I have successfully put together a brilliant plan for providing water to all 14 lots; I made an agreement with the local ASADA (town water) that I drill a well, connect it to their system and we share the water and they agreed. Now that I am providing to a public service instead of a private development, the time to get legal water was cut from 2 months to possibly 2 years and it will cost 65% less!!!!

Making a deal with local water board is a big achievement, but it gets better…..The ASADA needed their own lot where the well and water system is going and I negotiated a lot for the ASADA, from my next door neighbor. The deal is, he gives the lot, I pay for installation of the water system, we share the water rights and he, I and ASADA all agreed!!

Not only did I negotiate a free lot that I would have given out of my land if I had to, but where the new ASADA lot is will cost me thousands of dollars less to drill and it will produce a lot more water. It was a very successful achievement for the project. The reason why is, most ASADAS, including Nosara, shuts their water off at certain times of the day in the late months of the dry season. We are sitting on a lot of water, we will have a gusher and we will have lots of water all year round.

We can go into water rights another time, but if you are interested, or have any questions about real estate in Costa Rica, contact me at CostaRica.Daniel@yahoo.com .

Once I have electric and water, the actual construction of my house, guesthouse and pool will all be quick. I have already purchased all the material to build. My goal is to start construction by February 20th and I want to be done with construction and have the first phase of 4 lots, 1 house and community pool & guesthouse available for sale by June 2010.