costa rica - allen lungo

Costa Rica

Do Your Dreams Fit?

Presenter: Allen LungoPresident:

Costa Rica Global Association of Realtors (CRGAR)The Costa Rica MLS (CRMLS)

Founder/Partner:The Summerland Group

Vacation Rentals of Tamarindo Costa Rica Real Estate Store Summerland Property Management Costa Rica Welcome Centers

Executive Vice President:Proxio, Inc.

Do Your Dreams Fit?

Amy Seeks: Smith & Associates (Platinum Level Sponsor)

Ginger McQuigg: Prudential Tropical (Platinum Level Sponsor)

Charles Richardson, Elizabeth Vasti, Sabrina Cullen Coldwell Banker Residential Real Estate (Gold Level Sponsor)

Kelly Kepler: Engel & Volkers Clearwater Downtown (Bronze Level Sponsor)

Frank Hurley Real Estate (Bronze Level Sponsor)

Peggy Naruns: Northstar Realty (Reception Sponsor)

Florida Gulf Coast Tour Thank You Sponsors!

Costa Rica/Ready For You!OverviewToday, FutureGuanacaste ProvinceReal Estate, Realtors, ReferralsInvitation

Do Your Dreams Fit?

Costa Rica Today: LocationFlorida Gulf Coast Tour – Nov 2012

Central AmericaCosta Rica

Latitude: 9-10 N(Hawaii: 20N)

Longitude: 84-85 W(Chicago: 87W)

Weather from the EastNo HurricanesNo Tornadoes

Active VolcanoesSeismic Zone

50 Year Quake in Sept

Nicaragua Costa RicaSize of W. VirginiaPop – 5 million

Panama

Costa Rica

Costa Rica Today: Points of InterestFlorida Gulf Coast Tour – Nov 2012

Nicaragua Costa RicaSize of W. VirginiaPop – 5 million

Liberia (LIR)2nd Int’l Airport

Arenal VolcanoTop Tourist Attraction

TamarindoGuanacaste Gold Coast

LimonCaribbean Coast

San Jose (SJO)Capital,1.5 million

Manuel AntonioTop National Park(Visits)

Osa PeninsulaTop Natural Experience

Panama

Costa Rica

Costa Rica Today: Points of InterestFlorida Gulf Coast Tour – Nov 2012

History:

Costa Rica Today: HistoryFlorida Gulf Coast Tour – Nov 2012

History:No Ancient Empires

Independence from Spain by LetterSept 15, 1821

Democracy Since 1820’s“Paternalistic” Early History

Civil War – 1948Military Abolished

Continuous Period of Peace SinceReputation for Promoting:

Human Rights Environmental Awareness

DisarmamentA Tradition of Welcoming Everyone

Costa Rica Today: HistoryFlorida Gulf Coast Tour – Nov 2012

1st World Country

Costa Rica Today: Current AssessmentFlorida Gulf Coast Tour – Nov 2012

1st World Country

Economy: +3.5% growth rate,low inflation, diversifying, no mortgage crisis, free tradeEnergy: 80% renewable: wind, solar, hydroelectricEducation: 97% literacyHealth: national health with private pay options, top 4 in lifespan, “happiest place on Earth”Communication: fiber optic internet speeds, 3G cell serviceTourism: #1/#2 dest, last 2 years new records, airport improvementsStable Government

2nd/3rd World Infrastructure: Roads, Rail, Ports, Marinas

Improving!

China Helping!

Costa Rica Today: Current AssessmentFlorida Gulf Coast Tour – Nov 2012

Costa Rica/Ready For You!Overview

Directions for the FutureGuanacaste ProvinceReal Estate, Realtors, ReferralsInvitation

Costa Rica: Green

Ongoing Passion!- 27% Park/Protected- Farmers paid to watch trees (not cows) grow- Fastest way to get a cop: start cutting a tree

Carbon Neutral by 2021

No More Shark Finningor Exporting of Fins

Costa Rica Today: Priorities in NatureFlorida Gulf Coast Tour – Nov 2012

Costa Rica: Global Integration

Push 1st World Services, Global Trade- New $40 Million Liberia Airport- Free Trade Agreements- Intel: largest microchip plantin the world, #1 export earner Expanded- Baxter medical equipment- IBM Software Research Center- Plasma rocket engine- Call center country- Jet maintenance/upgrades

Costa Rica Today: Priorities in Trade, Hi-TechFlorida Gulf Coast Tour – Nov 2012

Costa Rica: BluePromote Medical Tourism - High quality services and care at low prices relative to the US

Dental, Vision, Cosmetic Surgery,Rehabilitation, Holistic Health

Work synergistically with travel industry, related personal and business services to offer “medical tourism packages”

Physicians in alliance with the government

Competition – SE Asia, India

Costa Rica Today: Medical TourismFlorida Gulf Coast Tour – Nov 2012

Costa Rica: BlueSample Procedures: - $CR / $USDentalTeeth Whitening - $250/$700Root Canal - $315/$800 Implant - $1000/$3000Veneers - $350/$1250 Porcelain Crowns - $350/$1050 BariatricGastric Band - $10,500/$30,000Plastic/Reconstructive SurgeryFacelift - $4,700/$12,000 Rhinoplasty - $2,500/$8,000Breast Augmentation - $2,700/$7,500Breast Lift - $3,800/$9,000Liposuction - $3,900/$8,000Tummy Tuck - $4,500/$10,000

Moving to M

ore Intensiv

e Procedures!

Tell Congress

to Allow M

EDICARE

to Reimburse

Outsi

de of the US!

Costa Rica Today: Medical TourismFlorida Gulf Coast Tour – Nov 2012

Costa Rica: Retirement National Policy:- Encourage 80 million baby boomers to come – Each one adds 4 permanent jobs to CR Immigration: Streamlined rules of residency: 6 MonthsHealth: public health system coverage $22 per month, drop Medicare Part BCost of Living: taxes, prop insurance, clothing, phone, local food, no heat for home,caretakers/aides Low Stress!

Costa Rica Today: RetirementFlorida Gulf Coast Tour – Nov 2012

Costa Rica: Education

Family/Childhood Experience K-12 (1-3 years) Public/Private Schools Bilingual Private Tuition - $2,500-$10,000/year

Intense Language Instruction 1- 24 weeks Multiple Locations

Professional Focus New – CRGAR Realtor Institutes CIPS – February 11-15, 2013

Costa Rica Today: Educational PrioritiesFlorida Gulf Coast Tour – Nov 2012

Costa Rica/Ready For You!OverviewDirections for the Future

Guanacaste ProvinceReal Estate, Realtors, ReferralsInvitation

Guanacaste Province

Flamingo

Las Catalinas

HermosaPapagayo

Nosara

Samara

Potrero

Tambor

Liberia

- Northwest Pacific Coast

New Liberia Airport Terminal

Costa Rica Today: Guanacaste OverviewFlorida Gulf Coast Tour – Nov 2012

Guanacaste Province

Flamingo

Las Catalinas

HermosaPapagayo

Nosara

Samara

Potrero

Tambor

Liberia

- Northwest Pacific Coast- Becoming an economic driver thanks to international airport, inbound visitor volume- Shifting from rural to resort, retirement, development, “California” of CR- Bi-lingual province resort areas dominated by English- 2 new private hospitals- New Global Destination -

New Liberia Airport Terminal


Guanacaste Province

Flamingo

Las Catalinas

HermosaPapagayo

Nosara

Samara

Potrero

Tambor

Liberia

- Northwest Pacific CoastCR’s Best Sunset Beaches

Beaches

Wide, World Class Surfing


Guanacaste Province

Flamingo

Las Catalinas

HermosaPapagayo

Nosara

Samara

Potrero

Tambor

Liberia

Beaches - Northwest Pacific CoastCR’s Best Sunset Beaches

Intimate, Tidal Pools, Surf


Guanacaste Province

Flamingo

Las Catalinas

HermosaPapagayo

Nosara

Samara

Potrero

Tambor

Liberia


Wide, World Class Surfing


Guanacaste Province

Flamingo

Las Catalinas

HermosaPapagayo

Nosara

Samara

Potrero

Tambor

Liberia


Possibly, Most Beautiful….


Guanacaste Province

Flamingo

Las Catalinas

HermosaPapagayo

Nosara

Samara

Potrero

Tambor

Liberia


2nd Place, after Conchal….


Guanacaste Province

Flamingo

Las Catalinas

HermosaPapagayo

Nosara

Samara

Potrero

Tambor

Liberia


Potrero - Best Kept Secret


Guanacaste Province

Flamingo

Las Catalinas

HermosaPapagayo

Nosara

Samara

Potrero

Tambor

Condominiums Near (Surfing) Beach – Tamarindo

Mid-Market Asking Prices: (furn)

1 bed/1 bath, 700SF, $95K-$175K2 bed/2 bath, 1100SF $150K-$275K3 bed/2 bath, 1600SF $245K-$400K

Real Estate

Costa Rica Today: Guanacaste Real EstateFlorida Gulf Coast Tour – Nov 2012

Guanacaste Province

Flamingo

Las Catalinas

HermosaPapagayo

Nosara

Samara

Potrero

Tambor

Ocean View Custom Homes – Flamingo

Asking Prices: (furn)

3 bed/3 bath small - $600,000 average - $950,000 photo - $2,975,000

Real Estate


Guanacaste Province

Flamingo

Las Catalinas

HermosaPapagayo

Nosara

Samara

Potrero

Tambor

Custom Estate Compounds – Tempate

Asking Price:(furn, 15 mins to beach)

3 bed/3 bath Designer pool200 Acres of land Registered wellOther buildings$995,000

Real Estate


Guanacaste Province

Flamingo

Las Catalinas

HermosaPapagayo

Nosara

Samara

Potrero

Tambor

Low-Rise Condos 3 Min to Beach– Potrero



Real Estate


Guanacaste Province

Flamingo

Las Catalinas

HermosaPapagayo

Nosara

Samara

Potrero

Tambor

High-Rise Ocean View Luxury Condos – Langosta



Real Estate


Guanacaste Province

Flamingo

Las Catalinas

HermosaPapagayo

Nosara

Samara

Potrero

Tambor

Ocean View Lots – Pacific Heights

Mid-Market Asking Prices:(with water, electricity available)

1-1/4 to 1-3/4 acres, $110K-$235K

Real Estate


Costa Rica/Ready For You!OverviewDirections for the FutureGuanacaste Province

Real Estate, Realtors, ReferralsInvitation

Costa Rica Real EstatePriced in US Dollars90% Sales Are CashForeign Investors may own 100% of assets – real estate, corporations (except some coastal property)Just One Signature!National Public Registry Unique ID for Every Property all legal conditions, titles, surveys, documents, meetings, etc. If not recorded in Spanish, it didn’t happen. All records online, except surveys.Due Diligence research contingencies, must be included in every offer, and checked by your attorney.Villas Casa Loma – Flamingo

Costa Rica Today: Aspects of OwnershipFlorida Gulf Coast Tour – Nov 2012

Costa Rica Real Estate Assets Are Owned with Corporations – limits future liability to the value of the asset, lower transfer taxes at saleNew vs. Existing Corporations – hidden liabilities, claims, suitsTransfer Taxes – Sell the shares vs. sell the asset – affects tax rate and value for property taxesEscrow – SUGEF, Stewart Title, Chicago TitleTitle Insurance – not required, unless lender involved, but can be wise investmentCasa del Suenos – Potrero


Costa Rica Real EstateProperty Taxes – 1/4 of 1% per year! In concession areas – negotiated feesProperty InsuranceSold by gov’t, all risks including earthquake, $600 per $100,000, no need for full value coverageCondos Are Special! Separate Condominium Law – strict, effectiveBy-laws must be available and recorded before closing. History of all prior association meetings should be available, as well

USE A REALTOR!USE A LAWYER!

Crystal Sands Beachfront Condo – Langosta


Costa Rica Realtors

No Legal Licensing of Realtors Boom – Taxi Drivers, Waiters, Surfers..80% of listings are open/non-exclusiveCrash – Cleaned up situation, but…..Licensing Law Unlikely NowNow – Rely on the AssociationsMembers accept/pay for rules, trainingNAR Relationships - Work together more willingly13% Professional Services TaxTo Work Legally:Must Be a Resident – Retired, Start a Business, Buy a Property Worth $200,000Register to Pay TaxesUse Immigration Consultant!

Costa Rica Today: RealtorsFlorida Gulf Coast Tour – Nov 2012

Costa Rica Realtors www.CRGAR.com

Formed in 2001 in Guanacaste Becoming National Organization – initial focus in Guanacaste, now bilingualOnly Association Requiring All: NAR Membership ICREA Membership Costa Rica MLS Participation Training Classes after AcceptanceAward Peer Credential: “CRGAR-Licensed Realtor”Support Community EducationFundraising Events: Golf Tournament and Party Weekend with Sponsor SupportRaising Global Profile

Costa Rica Today: GRGAR AssociationFlorida Gulf Coast Tour – Nov 2012

Costa Rica Realtors The Costa Rica MLS www.CostaRicaRealEstateMLS.com

Proxio Global Database Costa Rica favored by global investorsOnly CRMLS With All Being True: – All listings are 1) on Public Registry, 2) entered by only seller-authorized agent, 3) posted originally by a CRMLS user- All agent/users are 1) members of CRGAR, NAR, ICREA or linked to them, 2) agree to pay referrals – backed by CRGAR- The service is offered 1) on a non-profit basis by CRGAR, 2) without outside investors seeking profits from real estate sales or unrelated business activity

Costa Rica Today: Costa Rica MLSFlorida Gulf Coast Tour – Nov 2012

Costa Rica Referrals

Global Fee Practices - TypicalNegotiable from 25%-50% depending on your involvement, # of participantsGet Details in WritingCRGAR – standard form for Costa Rica, or use your ownIf you are having trouble getting paid CRGAR can do the most good for you with one of our own membersYou will have to pay taxes to CR15% is withheld on foreign (referral) payments. Unless you have another tax basis in Costa Rica, 15% must be withheld, and you need to send a proper invoice to the person/entity paying the referral fee.

Costa Rica Today: Realtor ReferralsFlorida Gulf Coast Tour – Nov 2012

Tamarindo, Costa Rica, February 11-15, 2013

Site of ClassesWalk from TamarindoAccommodations

Tamarindo

Langosta

Playa Grande

Main Surf BreakBeach

Instructor:David Wyant

Costa Rica Today: Invitation to VisitFlorida Gulf Coast Tour – Nov 2012

Costa Rica…..Welcoming You!

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