Now that our rainy season has begun in earnest, I am enjoying watching the renewed, rapid growth of the plants and trees here at Lake Arenal. I have a few new plants in my garden which are thriving, but I sure wish that I had more free time to garden like my pal Ann in Las Flores near Nuevo Arenal does. I swear, Ann can make anything grow. But one of these days she is going to take root in her own garden if she doesn't slow down!
I was the hostess of the monthly Ladies of the Lake luncheon this past Thursday. It is always nice to catch up with everyone and to share ideas, succeses, and failures in our various endeavors. At Thursday's luncheon, Gloria Dempsey, our area Zoologist, gave an excellent presentation on what to do in case one of your animals is bitten by a venomous snake. The most dangerous snake to animals in this area is the Tercio Pelo, or pit viper. The pit viper releases a hematoxin which causes terrible bleeding. There is anti-venom available, so if you know what to do and have some of the anti-venom on hand, you can save your animal's life while you rush it to the vet. Gloria also discussed what to do if your dog chomps on a poisonous cane toad. Cane toads release a neurotoxin. Gloria's advice is to put your dogs head down and then gently rinse the mouth out using a garden hose. Gloria said to use hardly any force so that you do not force the toxin into the dog's lungs or stomach. Then get the animal to a vet right away.
We also heard from Roberta Ward-Smiley, the founder and director of La Reserva Forest Foundation. Roberta gave us the great news that the national electric and phone company, I.C.E., has agreed to begin placing the new "monkey bridges" around the Lake Arenal area. These bridges will allow wild animals such as monkeys, sloths, and kinkajoos to cross roads in search of food and shelter without having to use power lines, which often electrocute them. Great work, Roberta! You can read more about Roberta's foundation, and also her blog, at this link: http://la-reserva.org/
Okay, here goes my foodie bit before I get back to work. This is a photo of the fresh Vietnamese Salad Rolls with Spicy Peanut Sauce that I prepared and served at the luncheon on Thursday:
They were scrumptious and fun to make. If anyone would like the recipe, just send me an email and I will send it to you.
And now for some analysis and news about the real estate market here in the Lake Arenal region. But first, a caveat: I will give you my opinions of how I see the real estate market here. Some of it may not be what you want to hear, but I strive to be as honest and professional as possible.
As the Baby Boomer Generation begins to retire this year, we are seeing more and more of them deciding to move to the Lake Arenal region. They are mainly coming from the U.S. and Canada. We are also seeing a lot of younger people moving to the area and they are coming from the U.S., Canada, and Europe. The younger people are entrepreneurs and virtual workers in technology.
The retiring Boomers are mainly interested in purchasing land on which to build, but some of them are also looking for existing homes. What I am not seeing, though, is much interest in gated communities or even simple lot developments, unless the lots are very well-priced. Most of the lot developments around the lake are priced in the $20 to $50 per square meter ($100k per acre to $200k + range), and that does not interest my client base. My clients, for the most part, are searching for a piece of land. One hectare (2.5 acres) seems to be the most popular size. The buyers want land on which to grow fruit trees and enjoy their privacy, with easy access and views. And they are shopping in the $10 to $20 per square meter range.
There are now some "smoking-hot" land deals here as well. Some of the area investors over-bought and are now selling at excellent prices. I have a parcel near the base of the Tenorio Volcano with some riverfront that is for sale at just $1.25 per square meter. I also have a working Tilapia farm on nine acres in a beautiful setting for just $150,000.
Another busy part of my business is serving clients who are in search of a small vacation getaway. Nothing too fancy, but again with easy access and, hopefully, some view. These clients are spending from $30K up to $125K.
Along with the influx of ex-pat retiring folks comes a higher demand for construction services. We are seeing younger North American construction contractors moving into the area, some with young families, to build new homes or remodel existing ones for our new residents.
If you are thinking of something simple as a vacation getaway, we also have a Canadian couple here in the village of Sabalito who have recently completed a pre-fab home on their own lot, and they are so happy with the results that they have decided to become distributors of the product. If you would like any further information on this, drop me a line and I will assist you.
And, finally, we are seeing an increased need for rental properties because the people having new homes built need a place to stay during the construction, plus we have a lot of inquiries for 2-to-4 week vacation rentals. So, if you are an investor, this is an excellent time to get into the rental market here. If you have the land, you can easily construct small, simple pre-fabs to North American standards and realize good rental income in the years to come.
Another new area of the real estate market in Costa Rica are efficiently-managed real estate mortgages. I work with a professional, pro-active young man who can assist you with any of your questions. Just drop me a line and I will put you in touch.
Okay, that's enough of my ramblings for this posting. In my next blog posting, I will give my thoughts on how locals decide on an asking price for their land here.
Take care and feel free to contact me any time.
Pura vida,
Laura Murray
Owner/Broker
RE/MAX Lake Partners
http://www.arenalbuyersrealty.com/
http://www.lakearenal.blogspot.com/
Lake Arenal, Costa Rica
U.S. Phone: 310-928-1523
Costa Rica Phone: +506-2-695-4511
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