Miami and Costa Rica

Miami & Costa Rica

Last night we attended a Gala at a high rise resort. The property is almost sold out to people who purchased several years ago. These buyers are the losers at Miami’s musical chairs game. They are the speculators who put 20% down on the properties expecting them to go up 30% per year. Some of these may be the people who purchased originally. Some probably bought the contracts for a higher price. Some may have bought the contracts at a discount. I think it would be much more advantageous to buy from the builder now. The best deal of course will be to wait until the market finds its bottom. The views are unbelievable, the construction and floor plans and amenities are wonderful. The fundamentals are there. The market is not.

I have been talking to Mike Torino about his development in Costa Rica. It really sounds like a great project. The developer of the project kind of turned me off when he spoke about Costa Rica to the conference. He really didn’t say much about how great Costa Rica was. He mostly just dissed Panama, Nicaragua and Belize (the competition).

I still like the project. They have “You fly, we buy gathering weekends”. You buy the airline ticket. The developers pick you up at the airport and take you for a fun filled weekend with horseback riding, ziplining, fishing, dancing and parties. Mike says that there is no sales pressure at all. They let the good times and the wonderful place do the selling. If you need an invitation contact me.

David Segrest is a REALTOR in Charlotte NC. His website is http://www.segrestrealty.com His email is david@segrestrealty.com