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Mid April 2008 Newsletter |
Today, in my early morning online work, I came across the following article: Filed Under: Nation News, Politics News NEW YORK (April 4) - More than 80 percent of Americans believe the country is headed in the wrong direction, the highest such number since the early 1990s, according to a new survey.
The CBS News-New York Times poll released Thursday showed 81 percent of respondents said they believed "things have pretty seriously gotten off on the wrong track." That was up from 69 percent a year ago, and 35 percent in early 2002. The survey comes as housing turmoil has rocked Wall Street amid an economic downturn. The economy has surpassed the war in Iraq as the dominating issue of the U.S. presidential race, and there is now nearly a national consensus that the United States faces significant problems, the poll found. A majority of Democrats and Republicans, men and women, residents of cities and rural areas, college graduates and those who finished only high school say the United States is headed in the wrong direction, according to the survey, which was published on The New York Times' Web site. Seventy-eight percent of respondents said the country was worse off than five years ago; just 4 percent said it was doing better. The newspaper said Americans are more dissatisfied with the country's direction than at any time since the poll's inception in the early 1990s. Only 21 percent of respondents said the overall economy was in good condition, the lowest such number since late 1992. Two in three people said they believed the economy was already in recession.
The poll also found that Americans blame government officials for the housing crisis more than banks or home buyers and other borrowers. Forty percent of respondents said regulators were mostly to blame, while 28 percent named lenders and 14 percent named borrowers. Americans favored help for people but not for financial institutions in assessing possible responses to the mortgage crisis. A clear majority said they did not want the government to lend a hand to banks, even if the measures would help limit the depth of a recession. Respondents were considerably more open to government help for homeowners at risk of foreclosure. Fifty-three percent said they believed the government should help those whose interest rates were rising, while 41 percent said they opposed such a move. The nationwide telephone survey of 1,368 adults was conducted from March 28 to April 2. The margin of sampling error was plus or minus 3 percentage points. Copyright 2008 The Associated Press. The information contained in the AP news report may not be published, broadcast, rewritten or otherwise distributed without the prior written authority of The Associated Press. This is more or less what I have been seeing and hearing for the last several months. And to give an idea how really pervasive these feelings are … I asked my father ( and this is the same man, who, 40 years ago , cut off his daughter’s , my sister’s, college tuition…for marching in a protest against the Vietnam War) what his feelings and thoughts were about the “state of the country”. And this is also a man who was decorated in World War Two and still stays in contact with his old Navy buddies…those that are still alive. I , by nature , am a contrarian investor and do not believe that the country is in as bad a shape as many make it out. However, investor sentiment is as bad as it ever has been and confidence in the government and the country’s infrastructure is at almost an all time low. Talks of another “great depression” are everywhere. But…as I have written …our business, strangely enough, is booming.
I get emails every week, generally after each newsletter , describing in great detail what a mess the States are in AND predicting with absolutely certainty that real estate in Costa Rica will be “in the toilet” within a short time, too…emails from San Francisco, Massachusetts, Florida, Palm Springs…all areas where real estate has been “decimated”. Come on down and see for yourselves. There ARE pockets where investors and others affected by the Stateside downturn are slowing and occasionally offerings are made on a “liquidation” basis. But not in the Central Valley and not in projects which have a niche following. Remember, more buyers than sellers equals rising prices …and buyers are flocking in from Canada, other countries and areas of the States not affected. In many ways, I wish it was slower, particularly in the area where we live as smaller and more rural, in my mind, is better. But, as we often say, “it is what it is.” Construction and change is everywhere in Grecia and Sarchi. Guanacaste and the resort area along some of the Pacific has slowed but it is CROWDED here. Land is becoming harder to find and we are moving a little further out. There are more “traffic jams” and downtown is much more crowded than when we first moved here. The reasons we moved to Grecia six years ago are being “discovered” by others living in areas such as Escazu and Santa Ana. …progress. You know that you are getting older when you start talking about the “old days” , especially when they were only six years ago. Pretty soon I will sound like “ the old farts in the park” as my wife calls the crew of MUCH older retired guys that do nothing but “hang out and complain.” I have had great responses to some of my comments in recent newsletters…thanks to Jeff for tips on where to find “american style” hot dogs in Costa Rica…and thanks to Bruno for the correction on the quotation that I mistakenly attributed to T.S. Eliot. I guess my English minor from 40 years ago is not having the impact is previously did. Last newsletter’s comments about our three developments, Las Brisas del Cielo, Ventanas San Mateo and Pueblo Escondido… i.e., the fact that these developments are the product of Rhonda and my blood, sweat, and tears produced great response. For those of you that missed it, it was pointed out that we may not have specified “well enough” that these developments were “ours” and that we stand behind them 100% AND what great values they were. And those of you that have visited or seen our home and commented on its uniqueness and great “feel” …please visit the renderings in both Ventanas and Playa Azul ( Pueblo Escondido ). Sales and commitments have started in earnest and visitors will begin arriving this week specifically for these properties. If you are seeking a great investment in a beach home , an ocean view home or a home in the mountains…it really doesn’t get any better! Road work is being started AND completed…gate construction starting…plants and landscaping starting and coinciding with the advent of rainy season… well being drilled in Ventanas…and water lines laid in Pueblo Escondido…construction of model homes should begin within 30 days. Visit the sites and see what we are talking about… www.lasbrisascostarica.com www.azul-costarica.com www.crventanas.com
A few more offerings:
2. Those of you that asked about the house midway between Naranjo and San Ramon for $42,500...we are working on getting inside pictures. 3. We have three more properties available in Bajamar…the last three sold in record time. This area is one that is “like Costa Rica was 50 years ago”. Prices range from low $30s to around $50,000. Walk to the beaches and enjoy seclusion. Each property is 2000 sm or half an acre and all utilities are right next to the property. If you have an interest, let me know quickly as Bajamar properties tend to move quickly. 4. 2-3 manzanas ( a manzana is 1.75 acres ) in San Isidro de Grecia. In a valley with absolutely stunning views of the mountains and gorgeous green valleys all the way into Grecia. Bordered by a larger river. Private. This would be great for a smaller development of 2-4 homes or a family compound. This is the lowest price property we have seen in San Isidro in four years…… only $25,000 per manzana.
5. 1000 sq.. meters, or 1/4 acre of hugely panoramic views in the mountains overlooking Grecia. Nearly 300 degrees of views. Owner forced to sell and pricing below competition. About 100 meters off of a public road...planted in coffee. Only $26,000
6. Two separate pieces of property in fantastic area of Naranjo…huge views of Naranjo and the Central Valley…one is 2000 sq. meters or half an acre…the other is 3500 sq. meters , amost an acre…both are directly off of a public road. Unbelievable views and we are predicting the same type of growth from Naranjo as Grecia has seen over the past five years. Gently sloping. $26,000 and 32,000. 7. “Rhonda’s cabina” is finally completed and up for sale. It is perfect for a single person…two level., two baths, two BR, huge deck…great landscaping…and secure…and of course…the proverbial HUUUUGGE views of the Central Valley. Convenient and perfectly built. Only $88,000
8. 3 ½ manzanas of gorgeous property in the hills above Grecia…planted in coffee with views to the Central Valley and the surrounding mountains…huge amounts of trees, cypress and fruit…this is a gorgeous property and a superb investment
It appears that the beginnings of rainy season has arrived. Sunday afternoon saw showers and rumblings most of the afternoon. Nice to relax. We are completing a garden with waterfall near our new home and have planted several larger trees on the drive in to the home. Rainy season will ensure that nearly everything will grow in the coming months. ( and for those of you not familiar with rainy season here…it does NOT rain all day…it typically rains only in the afternoon or early evening after starting out the day bright and sunny )
Hasta luego p.s. please note the changes in our telephone numbers:
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Still, the approval rating of President George W. Bush did not change since last summer, with 28 percent of respondents saying they approved of the job he was doing.
More and more are buying for the future OR for now…as protection , as an investment AND/OR as a future home.
I will be visiting my parents and daughter in the States from the 16th of April until the 22nd. I am assuming that everyone else will be working hard while I am away…but you know what they say about “ while the cat is away…”