Nosara is becoming one the goto hotspots for Destintation Weddings – Affordability, Accesibility from major airports, and the general “wow” factor all contribute to more and more couples choosing Nosara as the location for their big day. Our friends Terence and Britney were married on a large estate in the mountains, while having the reception right on the beach, ending with an amazing display of close friends, family, and fireworks in celebration! We were glad to be part of this amazing wedding and helping to bring this find group of people to Nosara. If you were thinking about a destination wedding, we would be glad to help put you on the right track to doing so. Enjoy the video, its a great example of how special a place Nosara truly is.

The real estate market in Nosara, Costa Rica is affected by a variety of external factors. The most important of these factors, is the general health of the market in the major metropolitan areas from which interested buyers in Nosara Real Estate are coming from. There are a couple of hotspots that seem to be where a large majority of real estate buyers in Nosara originate from – such as the northeast ( including New York City, Long Island and the Hamptons, New Jersey), Colorado, specifically Denver, Boulder, and surrounding areas, and of course, Southern California. Buyers that originate in these areas are very much influenced by the state of affairs of the local real estate markets, and take the experience and market conditions in those local markets, and may apply them when searching for property in Nosara, Costa Rica. In general, the health of the real estate market in Nosara is directly and proportionally related to the markets in these areas. There is an incubation period, and the Nosara markets tend to follow these major real estate markets on a time delay, so what is happening in real estate markets in the US may filter through to the markets here in Nosara – from what I have seen and studied, that time frame seems to be on the 12-18 month duration; ie, the major trends in the states tend to show up as the same trends in Costa Rica real estate, with a lag time of around 1 year. So how is the market doing in some of these real estate hotspots where buyers are coming to Nosara from? Lets take a Look:

New York City – New York city rents, and real estate prices are at all time highs once again, on a metric of both median prices and dollar per square foot. The prices seem to be driven by record low interest rates, but the interesting development in fact, is that the majority of bidding wars are being driven up by cash offers. Here is a recent story about condos in Willamsburg, one of the hottest real estate markets in the NYC area (Brooklyn). Three condos recently sold at record prices, in cash, without even hitting the market.

http://www.crainsnewyork.com/article/20130426/REAL_ESTATE/130429897

Denver, Colorado – Many of the buyers in Nosara are coming from the Denver and Colorado area. This is an area that offers similar active lifestyle choices, with outdoor activities and nature being a key theme.  The market in Denver is very healthy, with sales numbers up 46% and the average home price is up nearly 19% in the last year. Read about it here:

Denver Home Sales up 46% in March

Los Angeles, California – California was one of the hardest hit areas during the recession. It has taken a while for home prices to rebound as the huge inventory of foreclosures had kept a lid on prices. But this is what happens at a market bottom – it comes and goes and before you know it, there is a surge in prices as the majority of good homes are no longer on the market and inventory is scarce. Of all the real estate data I have read, this is the most intriguing and relevant to me:

LOS ANGELES REAL ESTATE PRICES ARE UP 50% IN JUST 6 MONTHS!!!!!

Yes, you read that right. Over 50% in just 6 months. Here is a chart of Median Prices:

Lastly, we can look at the Case-Schiller Home price Index:

Case-Shiller home prices rose +1.2% in February. The breadth of house price gains is impressive as this marks the second consecutive month that all 20 cities within the index increased sequentially. Compared to this time last year, home prices are up 9.4% and every city within the index is now in positive territory. Not surprisingly, those areas of the market that previously the most distressed are now posting the largest gains: Phoenix (+23.0%), Atlanta (+16.5%), Detroit (+15.2%), and Las Vegas (+17.6%).

All of this info paints a very similar picture; Homes prices are on the rise, with average prices up 9.3% in a year, and many major metropolitan areas that represent a large demographic of buyers in Nosara up between 20-50%. It doesn’t take a rocket scientist to know that these price increases will soon be seen in Nosara. Land and home prices have already rebounded, and are closing in on all time highs – while the number of transactions has also picked up. So what drives real estate prices in Nosara? What are the main influences on the market here? Simply put, the state of the real estate market in the places from which the buyers come to Nosara. And the state of those markets is more than healthy, they are thriving once again. If you have been thinking about a purchase in the Nosara area, now is the time. Please contact us for more information on property, real estate & luxury homes in Nosara, Costa Rica.

With U.S. markets beginning to turn around drastically, the Dow currently exceeding its prior peak from October of 2007, jobless claims recently hitting a 5 year average low, and the construction industry struggling to keep up with new demand, real estate markets are being rocketed back to life. In the aftermath of Hurricane Sandy in the northeastern United States we are seeing tremendous gains in house pricing and construction. In the northeast in particular, where a significant amount of American wealth is concentrated, working class Americans are being put back to work at an explosive pace. New construction starts in February alone rose 0.8% and building permits were up 4.6%. This is the highest level increase in almost five years!!! With the increase in employment there is also clear signs of increased spending among this group of consumers. Retail sales in February in the United States climbed 1.1 percent. Sure, this all sounds great for the economy in North America, but you’re probably wondering how on earth this relates to Nosara vacation rentals and overall real estate market in Costa Rica. Well, I’ll tell you how. With a serious influx of disposable income for a large amount of middle-class North Americans, we are going to see a serious influx of North American travelers ready to spend some of their hard earned cash on a Nosara vacation rental.

Continue reading →

Although not directly related to Real Estate – a question we are often asked by potential investors or clients looking for a home, is regarding technology when it comes to internet, telephones, and general connectivity in the area. This post is just a quick overview of what is available in the area. Nosara has come a long way with technology – Just a few years ago, the only company in all of Costa Rica was a single government monopoly – we know how that goes. With the advent of opened markets – Costa Rica is now replete with options for the tech savvy – or more importantly, those who are considering moving to Nosara, Costa Rica full time, who will need to be able to work remotely via Internet and telephone. Here is a full list of what is available for all of your technology needs. Continue reading →

Dave Liniger is a real estate legend, having changed the establishment in so many ways when he founded RE/MAX in the 1973. He has spent his life with his finger on the pulse of markets – its in his DNA. Here are his predictions for 2013. This is a great watch for buyers, sellers, investors, agents, and brokers.

http://www.youtube.com/watch?v=2Trbvc5-2nU

We have a great new property for sale located in the D section. The D section is the area that is  in between Playa Guiones and Playa Pelada. There is a sharp turn off into the D section from the main road, just after L’Aqua Viva Resort. This lot is just over 1100 square meters, or 1/4 acre. The property has a flat building pad at the top, and with a little bit of chopping and from the second floor, you can enjoy white water ocean views of Playa Guiones. At $129,000, this property is priced just over $100 per square meter, and is great price for anyone looking to build a home. A Modest 2 story, 1800 square foot home, with 3 Bedrooms, 2 Bathrooms, and a small pool can be built for $225,000.  That means, you can have an ocean view, brand new home for just over $350,000 – All in. Also, in addition to the building pad, there is a ton of nature and land to explore right in your new backyard. The landscaping is lush and has had years of planting . The neighbors include a few private homes and tasteful, tranquil B&B’s. Great opportunity for the right buyer. See the listing here.

Bruce Northam recently made a trip to Nosara, and stayed at Namaste Oasis, the Fractional Ownership based resort in the K section of Playa Guiones. Click here to read the article.

Bruce really has a way with words and gives Nosara and Playa Guiones the credit it deserves. He writes:

“Nature is still running the show on Costa Rica’s Guanacaste Peninsula, a rugged nature sanctuary gracing the Pacific coast. At its heart is Nosara, a marine development, surrounded by verdant hills, nicknamed “The American Project” in the late 1960s. It’s still a beach town on a mission to never really have one because the founding fathers and mothers cleverly put the environment first.”

and

“Nosara has everything you’d expect to find in a tourist beach town—fancy boutiques, fruit and fish markets, surf shops, and restaurants inspired by different corners of the world—but you’re a long way from paved roads, casinos, franchises, or bragging rights for the fanciest car. Here, vehicles with air intake snorkels looming above their windshields so they can drive in four feet of water get a tip of the cap.”

 

But save the best for last. Bruce, who has travelled all over the world, has this to say about Namaste Oasis.

“Namaste Oasis is the coolest pad in Nosara’s jungle. This boutique resort is a 10-minute shaded walk to the beach. Its two sleek, two-story hillside buildings create four 1000 square-foot ultra-modern two-bedroom condos with grand balconies overlooking a freshwater pool. Or more simply, it’s a private resort with four swank garden apartments. Here, maid-insured cleanliness, working modern appliances, and dependable everything is a rarity. The four units recall something you’d find in the Hollywood Hills, except that you’re at the end of a dirt road while the howler monkeys do their thing: howl. I catch one cold a year, and it’s usually from air-conditioning. Keeping the walls of sliding glass doors open, I encountered no bugs, only sunrise jungle sounds—and the huge, accessible balcony seems to double your square footage. The full kitchen is an ideal place to cook the one-dollar lobster tails from the local market.

Namaste Oasis is a feature listing of REMAX First Choice Realty in Nosara. See the listing here.

A little bit about the author:

Bruce Northam, the writer and host of American Detour, has reported (mostly good news) from 125 countries on seven continents. His keynote speech, Street Anthropology, is a hit on campus and at corporate events and Governor’s Tourism Conferences. His book, Globetrotter Dogma, is an award-winning ode to freestyle wandering.

 

More great press for the Nosara area, and we know that its just the start. The real estate markets here are just scratching the surface and now is the best time in the last 5 years to purchase a investment property. For more information, please visit www.firstchoicenosara.com.

Looking for a vacation home rental for your Christmas or New Years trip to Nosara? Bookings this year have been off the charts, but a few homes have recently become available for the two busiest rental weeks in the entire season. If you have any questions or are looking for accommodations, this beautiful, modern, clean and comfortable 2 BR 3BA home with ocean views are really close to Playa Guiones is waiting for your reservation. See the listing here.

There is another amazing property in the G section that is available for New Years week. It is new construction, very comfortably furnished, is just a few steps away from a newly revitalized super market and tons of restaurants, surf shops, and of course, the beach. This home has superb location and proximity to all that the north end of Guiones Offers. See the listing here.

REMAX First Choice Realty in Nosara Costa Rica, has a great listing on real estate in the San Juan Mountain area of Nosara. –  This is a 20,000 square meter property (2 Hectares or 5 Acres). This property has hands down, THE BEST VIEWS I have seen in this area. . There is a huge building lot at the top of a mountain ridge, a literal eagles nest. The entrance to the property off the main road is perfect for a big gated entrance, and the driveway on the property wraps around the main ridge-line all the way to the top building pad.

The views are 10/10. The property layout is a 10/10. The location is only 3 km to Nosara town, and the Nosara Airport. You can drive to Rancho Tico in about 10 minutes. You can drive to Playa Guiones in 20. Asking Price $450,000.  Owner is willing to finance with flexible terms. This is a great opportunity and one of the most coveted and envied piece of properties in the area.

Take a look at the listing here:

http://firstchoicenosara.com/900751001-30

Get a better idea of the location and a virtual tour here: