It's a great Time to Refinance or Get A Home Improvement Loan

November 2010

Is a great time to refinance or get a home improvement loan to buy your dream home in Costa Rica!

Market Update

The housing market continues its gradual recovery. Sales are slower but growing. Although it will likely be uneven at times, slow growth is believed to be the trend moving forward. Interest rates in the US hit a new historic low again, a major factor in helping keep mortgage payments incredibly affordable.


Extended periods of record low interest rates and further plans from the Federal Reserve Board to expedite recovery have some concerned about future inflation. One such investment guru, John Paulson, touted the benefits of owning real estate as a hedge against inflation on Forbes.com. “Your debt and interest payments get locked in at record lows, while the price of your home will rise … If you don’t own a home buy one … if you own one home, buy another one, and if you own two homes, buy a third and lend your relatives the money to buy a home.”
Buy a house in Costa Rica!


This march back up continues to provide excellent opportunities: an ample selection of homes in Costa Rica, affordable prices, and historically low interest rates back in the US. Experts anticipate both the economy and the housing market will continue their paths on the way to a complete recovery.



Home Sales

In the US home sales continued to rebound in September, increasing 10% compared to the previous month. This builds on August’s gain of 7.6% that followed a large drop caused by the expiration of the federal tax credit in July. Sales are expected to gradually grow as the market moves toward recovery without government stimulus. Industry experts expect the overall trend to continue growing slowly and our market in Costa Rica should follow suite.



Home Price

After four months of prices remaining on par with year-ago levels, September showed a slight decline.

Inventory

The large inventory continues to represent an excellent opportunity for buyers and investors who have not yet taken advantage of the abundant opportunities of the market including record low rates, an ample selection of homes, and highly affordable prices.



Affordability

Housing remains at near-record affordability levels, and prospective home buyers stand to benefit from the lowest mortgage rates in the US, in decades, as well as advantageous home prices. Housing is approximately 60% more affordable now than during the height of the market.

Source: National Association of Realtors
Interest Rates

Mortgage rates once again set new record lows in early October to 4.19% and remained below 4.3% throughout the month. These historically low rates contributed to real savings for buyers. Furthermore, the longer the buyer owns the home, the greater the savings they will realize. As economic activity gains momentum, rates will rise to keep inflation at an acceptable level.


Topics For Home Owners, Buyers & Sellers


Prime Time to Buy
7 Reasons Why Now Is a Great Time to Buy a Home


Recent history has reframed some of what had long been taken for granted about buying a home. Namely, we’ve learned that even though buying a home remains one of the best and safest investments available, a home should not function as an ATM or a short-term speculation strategy. So, where does that leave us? A lot smarter, able to recognize an opportunity when we see one, and aware of the facts that point to now as the prime time to buy a home in Costa Rica.

1.Home affordability is at an all-time high.
2.Mortgage rates in the US are at rock bottom. It’s hard to imagine interest rates going much lower, and when they start to inch back upward, monthly payments and total loan costs will spike upward.
3.Home prices are back on the rise. After declining for 30 months, home prices are trending back upward. The time to get in the market is now.
4.Sellers are motivated. This means that buyers have the upper hand. Sellers are fiercely competing among an excess of housing inventory, which often means buyers have untold choices and negotiating power.
5.In the US financing is readily available. Banks are back in the game and ready to lend to well-qualified buyers.
6.Homeownership is still at the core of the American Dream. Owning a home is critical to financial stability and wealth building. It’s a forced savings account, a place to live, and a fabulous tax deduction. So, why not own a home in Costa Rica too!


Sources: The Wall Street Journal, Inman News, KW Research

Contact me,
Cathy Wells

your local real estate expert,

for information about what's going on in our area.

Costa Rica is the safest place in Cental America!!

In 2009 Costa Rica had the lowest homicide rate in all Central America!
http://www.elnuevodiario.com.ni/nacionales/70952

In 2009
• El Salvador had a homicide rate of 76 per 100,000 inhabitants
• Honduras had a homicide rate of 66.8 per 100,000
• Guatemala had a homicide rate of 48 per 100,000
• Panama had a homicide rate of 24 per 100,000
• Nicaragua had a homicide rate of 13 per 100,000
• Costa Rica had a homicide rate of 11 per 100,000

Check out how may were U.S. citizens according to the Deaths of U.S. Citizens Abroad statistics compiled by the US Department of State. http://travel.state.gov/law/family_issues/death/death_600.html

All the more reason to come to Costa Rica to go fishing, surfing, vacation or buy Real Estate!

Pura Vida!!

Here are a few interesting facts about electricity in Costa Rica.
Electricity Prices In Costa Rican homes and apartments varies depending on your usage, the more electricity you use, the higher the rate you pay according to the Grupo ICE website. This encourages the wise use of electricity. We don’t leave our A/C running while we are not at home and we shut lights off when we are not in the room. This is part of living the Pura Vida Green Life!
These rates can be higher than what we are used to paying for electricity in the US.
Why is the electricity priced so high?
Costa Rica’s electricity comes from 80% renewable sources such as hydroelectric and geothermal power. Costa Rica’s goal is to have its electric come from 100% renewable sources.
This means there will be no accidents like Chernobyl in Costa Rica because they do not have any nuclear power plants and Costa Rica does not have any coal-fired or natural gas power plants to ruin their air quality. Very green indeed!!

Medical Tourism in Costa Rica

Medical tourism in Costa Rica has become very popular and now I know why.
I needed to have my annual mammogram done and I did not have time for it before I left the USA a few weeks ago. I asked my good friend Patty who also lives in Nosara where and how to get a mammogram done in Costa Rica. She told me to go to Centro de Mamografia La California in San Jose. So, I called and made the appointment. A few days later I arrived to the mammogram office which was very clean and had a nice waiting area. I filled out the one page form with a little help from the receptionist who was very sweet. Then about 10 minutes later I was brought back for a digital mammogram. The technician was very gentle and respectful. After she was done with the images she showed them to me. That has never happened in the States! Then I was taken to another room with computers and an exam table. Here I saw a doctor who did the exam and then did an ultrasound. He spoke perfect english and showed the ultrasound and talked to me about the mammogram. In the States you have to make an appointment to go back to your doctor and that is only if you have a problem. In the States nobody shows you anything. It's a big mystery.
When I was done I went back out to the receptionist and only paid $100! For the same thing in the States it would cost $400 or more.
I love Costa Rica!!

Real Estate News from the USA

Good morning friends and family
Every month I would like to share the Real Estate market news from the States with you.
All you need to do is click on the link and watch a news clip.
If you have any questions please feel free to ask me. I am your Professional Real Estate Agent.
The best compliment that you can give me, is to give my name and number to a family member, friend or associate who is looking to buy or sell Real Estate in Costa Rica or the USA. I am at their service.
God bless all of you!
Enjoy the video!

http://kwconnect.kw.com/connect/user/share.jsp?p=2679&sh=431

Stray Dogs Kill Couple

Please read this article.
This is why it is extremely important to spay and neuter all stray dogs and cats. If you are feeding them, then they become your responsibility. Please do the right thing. Have them spayed or neutered or take them to the pound.
You can also help by donating time or money with the people who volunteer at spay and neuter clinics in your community.
In Nosara you can contact http://www.nosaraanimalcare.com/

Dr. Carl Wells volunteers his time to work with Dr. Delgado to offer their services free or at reduced prices to spay and neuter the stray beach dogs in Nosara Costa Rica.
God bless our furry friends and the ones who care for them!
http://news.yahoo.com/s/ap/20090819/ap_on_re_us/us_deadly_dog_attack

Change of Season - Rain!

For those living in North America, rain may not seem like a big deal. In fact it may often be an unwelcome visitor, seeming to arrive with uncanny timing for weekends and outdoor events. Here in the Guanacaste of Costa Rica, May begins the "low season", "rainy season", or "green season". Last night, right on schedule the first rain arrived to Nosara. Nothing could have been sweeter.

The dry season begins in early December and ends in May, but these pattern changes are not abrupt. The rain begins to fade in mid November and by January it is indeed a rare event here in the Guanacaste. Months of no rain, sunny skys and blue water seem to be just what the tourist crowds want as this period corresponds with the tourism high season. If you live here such prolonged drought, though normal and expected, takes it's toll. Gardens fade to brown without regular and copious ammounts of water applied. Unpaved roads become dust factorys and the temperatures at the end of the dry season can be stifling with humidity building week by week toward those first welcome thunderstorms. Even the people who endure the full dry season can get a little crispy around the edges. We always want what we do not have!

Last night marked the begining of the gradual shift we all have been waiting for. The rain lasted for about an hour. My guage said just under 3 cm (about 1 inch) had been granted us. This morning was predictablly cooler, fresher. The surrounding real estate was moist with the plants taking in the much needed water. My morning run was without the dust and my lungs were grateful. With a few more rains the fishing at the Boca Nosara will even improve as the fish respond to the change in flow and nutrients coming down the Nosara river. Surfers will enjoy a larger swell as the waves react to off shore storms. The famous Costa Rican sunsets will appear even more brilliant and intense. Each year I am in wonder at how fast the landscape changes to vibrant green, seemingly within days of the first good rain.

So it begins. The rain and the low season are upon the Nosara beaches. Each year I notice more people discovering that the rainy season is not a negative but indeed quite a positive thing. The rain is not an every day event, especially at first . The mornings are generally sunny with showers later in the afternoon, perfect timing for a siesta. Less people, a bit cooler, great waves and world-class fishing. The "low season", the "rainy season" or the "green season", what ever name you choose, is notably less low these days - and I certainly understand why.

Pura Vida!

Carl