Garden residences -  Resort for sale, rent and lease in Costa Rica Website Map
Spanish version of this website
Watch our video

Click to view larger picture picture

Click to view larger picture picture

ARCHIVE

Reports 2017

Reports 2016

Reports 2015

Reports 2014

Reports 2013

Reports 2012

Reports 2011

Reports 2010

Reports 2009

Reports 2008

Reports 2007

Reports 2007

Reports 2006

Reports 2005

Reports 2004

 

Residencias Los Jardines - Life & Times

ISSUE #645: Feb. 5-11, 2017

VACANCIES!

Brian Timmons, Newsletter Author
Brian Timmons

Dear friends,

When I started Residencias Los Jardines, I started writing a weekly newsletter -determined to tell all the good, bad, and the ugly. I knew some readers would be interested in the construction process. I expected others might be interested in the lifestyle of two people who had decided to live outside the box. For others, the adventures of Lita, the parrot and the cat took on an entertainment saga all its own.

Residencias Los Jardines is finished. We periodically have re-sales and rental availability. Some readers may be interested in this information.

Brian Timmons
Developer / Property manager
Residencias Los Jardines

Web: http://www.residenciaslosjardines.com
Emails: info@residenciaslosjardines.com
ResidenciasPropertyManagement@gmail.com

 
Featured
rentals & sales

Paradisus Condos / Rohrmoser
FOR SALE / RENT
Visit our website

Paradisus Condos - click to visit

Each of the units consists of two bedrooms / two bathrooms, and a large living/dining/kitchen area. The floor plan of each of these units has eliminated the optional "den / office" divider. The result is a larger area offering more flexible furniture arrangements while still maintaining the option of including an office area. At 105m2 plus two parking spots each and storage locker, they offer a great opportunity for someone seeking views, security, central location, and first class, all round living...

PRICE REDUCTION
Semi furnished unit: For sale: $235,000
Fully furnished unit: For sale: $245,000
Floor 12 -west view

FOR RENT
13th Fl / East view
furnished​
beginning Jan. 25
$1,400

 
Market activity
sales & rentals

Sales: Los Jardines: Units #106A, #114, #123 and #125

Rentals: Paradisus: For Rent: 13th Fl / East view / furnished​ / beginning Jan. 25 / $1,400
Los Jardines: Units #106C, #113, #114 and #123 are available for rent.

 
Residencias Los Jardines
property management, rentals & re-sales

FOR SALE
Unit #106A: $ 165,000 / See Unit
Unit #114: $ 199,000 / See Unit
Unit #123: $ 199,500 / See Unit
Unit #125: $ 135,000 / See Unit

FOR RENT
Unit #106C: $ 1,150 mo. / Immediately / See Unit
Unit #113: $ 1,150 mo. / Immediately / See Unit
Unit #114: $ 1,350 mo. / Available March 1 / See Unit
Unit #123: $ 1,450 mo. / Immediately / See Unit

For sale

UNIT #106A
FOR SALE
$165,000

Total Area (Sq Ft): 1250
Total area (Sq M): 120
Bedrooms: 2
Bathrooms: 2
Floor(s): 1
Type: Apartment
Furnished: Yes

This is a fully furnished 2-bedroom unit situated in a 2-story building, which has two units on the ground floor and two units on the 2nd. floor. Each unit is the same size (1,250sf) divided into 800 sf of interior space and 450 sf of covered front and back terraces. Units 106A and B are on the ground floor; Units 106 C and D are on the 2nd. Floor. The solid masonry demising wall (common wall) as well as the 5" concrete slab prevent sound transference.

UNIT #114
FOR SALE
$199,000

Total Area (Sq Ft): 1290
Total area (Sq M): 120
Bedrooms: 2
Bathrooms: 2
Floor(s): 1
Type: Semi-Attached
Furnished: Yes

This 2 bedroom/2bathroom,1,290 sf single floor end unit home includes a 150 sf front terrace plus parking for one car. This house is fully air conditioned and has recently been professionally decorated by international decorator Alcides Graffe and has undergone a complete renovation—new modern furniture, finishings, window coverings, and art work by Carlos Gambino. It is arguably the nicest furnished unit at Residencias Los Jardines and only steps from the pool

UNIT #123
FOR SALE
$199,500

Total Area (Sq Ft): 1516
Total area (Sq M): 140
Bedrooms: 2
Bathrooms: 2.5
Floor(s): 2 story
Type: Detached
Furnished: Yes

This two story, detached 1,423 sf home + parking for one car has two bedrooms, 2 ½ bathrooms and a 2nd floor covered terrace.
The open railed wrought iron cement stair case leads to the 2nd level where the master bedroom with en-suite master bathroom as well as 2nd bedroom and en-suite bathroom are located. Also accessed from the 2nd floor hallway is the covered terrace.
This is a very nicely furnished home with a good floor plan for those wanting two floors.

UNIT #125
FOR SALE
$135,000

Total Area (Sq Ft): 662
Total area (Sq M): 61
Bedrooms: 1
Bathrooms: 1
Floor(s): 2 floor
Type: Semi-Detached
Furnished: Yes

This 662 sf, + parking for one car and 33sf locker is a one bedroom home on the 2nd floor overlooking the large pool. It is ideal for a single person or couple—or investment property.

For rent

UNIT #106C
FOR RENT
$1,150 mo. / Immediately

Total Area (Sq Ft): 1250
Total area (Sq M): 120
Bedrooms: 2
Bathrooms: 2
Floor(s): 2
Type: 4-plex
Furnished: Yes

This is a fully furnished 2-bedroom unit situated in a 2-story building, which has two units on the ground floor and two units on the 2nd. floor. Each unit is the same size (1,250sf) divided into 800 sf of interior space and 450 sf of covered front and back terraces. Units 106A and B are on the ground floor; Units 106 C and D are on the 2nd. Floor. The solid masonry demising wall (common wall) as well as the 5” concrete slab prevent sound transference.

UNIT #113
FOR RENT
$1,150 mo. / Immediately

Total Area (Sq Ft): 1290
Total area (Sq M): 120
Bedrooms: 2
Bathrooms: 2
Floor(s): 1
Type: Semi-Attached
Furnished: Yes

This 1,290 sf single floor home includes a 300 sf front terrace plus parking for one car. It is attached on one side by a 6 inch cement demising (common) wall, which prevents sound transfer. The three other sides allow light, ventilation and garden views.

UNIT #114
FOR RENT
$1,350 mo. / Available March 1

Total Area (Sq Ft): 1290
Total area (Sq M): 120
Bedrooms: 2
Bathrooms: 2
Floor(s): 1
Type: Semi-Attached
Furnished: Yes

This 2 bedroom/2bathroom,1,290 sf single floor end unit home includes a 150 sf front terrace plus parking for one car. This house is fully air conditioned and has recently been professionally decorated by international decorator Alcides Graffe and has undergone a complete renovation—new modern furniture, finishings, window coverings, and art work by Carlos Gambino. It is arguably the nicest furnished unit at Residencias Los Jardines and only steps from the pool

UNIT #123
FOR RENT
$1,450 mo. / Immediately

Total Area (Sq Ft): 1516
Total area (Sq M): 140
Bedrooms: 2
Bathrooms: 2.5
Floor(s): 2 story
Type: Detached
Furnished: Yes

This two story, detached 1,423 sf home + parking for one car has two bedrooms, 2 ½ bathrooms and a 2nd floor covered terrace.

The open railed wrought iron cement stair case leads to the 2nd level where the master bedroom with en-suite master bathroom as well as 2nd bedroom and en-suite bathroom are located. Also accessed from the 2nd floor hallway is the covered terrace.

This is a very nicely furnished home with a good floor plan for those wanting two floors.

 
Our Lives

Weather: Windy and normal -volcanic ash seems to have abated.

Trophy House: still available... unreserved auction to be held Feb. 16 go to: http://www.theagencyre.com/for-sale/villa-paraiso-nicoya-peninsula-montezuma-costa-rica

Rentals: Two additional vacancies developed this week: one did a midnight exit... I expected this... he had troubles with a tica girlfriend and after he kicked her out for beating him up, she took most of his money so he had to leave... the unexpected one was a long term tenant moving to a cheaper unit.

I have not had any calls or viewings for several weeks. When I've asked, I am told that our rents are too high. Yes, our units are better but clients now are focused on price.

INS Suit: No further info... INS was given additional time to craft their response into a legal argument... when they respond, our lawyers will be notified of their deadline to submit a rebuttal... The dance continues.

 
News Items of the Week

Comments

1. Credit Downgrade: Fitch first now Moody's... "Pura Vida"

2. New Taxes: they aren't happening and it won't make a significant difference. The country simply has to change it's expensive spending habits....

3. Unemployment: Regardless of the number of new jobs, the rate seems to be about 10%... substantially higher for women

4. Rice: Import duties of 32% means that all Ticos are spending that much more on their rice and getting an inferior product... Interesting to note, that most of the imports are coming from S. Am. countries...

5. US Government and passport confiscations for outstanding taxes... not yet happening...

1. Moody’s announced the reduction of Costa Rica’s risk rating

Risk-rating agency Moody’s announced the reduction of Costa Rica’s risk rating. This is the second entity to do so this year, because Fitch was the first one to criticize the deterioration of the country’s public finances.

This is extremely worrying, although it is not surprising. We have been insistently warning against the lack of decision of the Legislative Assembly to advance the modernization of taxes on value added and on income, declared Fernando Rodríguez, interim minister of Finance.

Costa Rica receives a reduction in the risk rating because of the tax projects non-approval, which have been sent to the legislators since August 2015.

According to Rodríguez, since the moment that Costa Rica started to record higher fiscal deficits in 2010, successive administrations have intended, without success, to pass legislations to reduce deficits. During that period, almost none of the proposed laws was enacted as one, which is the result of political differences in the Legislative Assembly. Therefore, Moody’s believes that high deficits are likely to continue to increase the burden of public debt.

To the official, a downgrade means that the country becomes more risky for investors and that this may bring adjustments in the exchange rate and interest rates.

In addition, the minister explained that the increase in interest rates could hinder investment for companies, which would have an effect on growth and the level of employment:

That is why we have said, on several occasions, that the reform we have proposed brings benefits to the country and that it should be done as soon as possible, Faced with this situation, the Tax Office called on legislators to advance in the reading and approval of the plan proposed in recent weeks, with the aim of reforming the country’s main taxes prior to the 2018 election campaign. (crhoy.com)

2. Finance minister tells lawmakers new taxes are not the solution
By the A.M. Costa Rica staff

The finance minister told lawmakers Monday that proposed increases in taxes would not solve the country’s unsustainable financial problems but that new levies would give some breathing space for more permanent action.

The minister, Helio Fallas, who also is first vice president, released a chart that showed the estimated national debt by 2020 to be 61 percent of gross domestic product without new taxes. Public officials use this way of talking about debt because the colon is expected to change in value over time. Plus the use of this abstraction does not give the public the full impact of the situation.

Based on the exchange rate and the latest gross domestic product of about $54.14 billion, as estimated by the World Bank for 2015, the minister has suggested that the debt would be at least $33 billion in four years.

Fallas said that the country was committed to maintaining the estado social de derecho that the government has done for decades. That term means the Costa Rica version of socialism.

Fallas did not present any new ideas except increases in taxes, and estimated that if lawmakers adopted the latest proposal, the national debt would be 60.6 percent of domestic product in 2021. That is about $32.8 billion.

So the tax proposals would save about $1.2 billion over the next four years.

Fallas also noted correctly that the executive branch is ordered by law and the Constitution to spend about 95 percent of the budget. For example, he noted that education gets 8 percent of domestic product (about $4.3 billion) and there also is mandated spending for other agencies.

Current taxes were estimated to bring in about 13 percent of domestic product or about $7.3 billion. Under the proposed tax plan, the income to the government would be about 15 percent of domestic product in 2021. That would be about $8 billion.

Fallas also estimated that the external debt would decrease while more is picked up by investors within the country. That makes sense, because he also noted that international rating agencies are downgrading the country’s status.

The executive branch seeks a value-added tax to replace the current 13 percent sales tax. Originally, Fallas proposed a 15 percent value-added tax but last month dropped the percentage to 13 percent. The executive branch also seeks higher income tax rates.

Fallas was responding by letter to lawmakers who sought his estimates on how much money the new proposals would generate. President Luis Guillermo Solís has about 15 more months in office, and Fallas noted in his letter that a new administration might have to increase the value-added tax to 18 percent.

Despite the financial crisis, Solís has presented higher annual budgets and has been unable to make any major changes in expenses. A proposal to standardize public employee salaries was just withdrawn due to opposition.

Other proposals advanced in the past to save money, such as merging the national banks, also got nowhere.

3. Unemployment doesn’t budge

Few things seem to stay the same on Costa Rica’s financial landscape other than unemployment figures. Last year closed out with an unemployment rate of 9.5 percent compared to 9.6 percent in 2015. During the last quarter of 2016, the unemployment rate for women was nearly double that for men, 6.9 percent to 13.8 percent. (La Nación)

4. Rice agency continues push for official protection
By the A.M. Costa Rica staff

The world economy has not been kind to Costa Rican rice growers.

In 2010 there were 81,116 hectares being cultivated for rice. Today there are about 46,000 hectares, a reduction of about 40 percent.

In 2010 and 2011 there were 1,490 growers of which 1,194 were considered smaller producers. Now there are 522 small producers.

The statistics are what Minor Cruz, an executive with the Corporación Arrocera Nacional, presented to a legislative committee Tuesday. He was urging consideration for Costa Rican rice producers in the face of imports.

When the Central American Free Trade Treaty was being studied, rice growers were among the most vocal opponents.

They feared the lower-priced competition for the vast fields of the country to the north.

But now it seems that the bulk of the imports are comings from southern South America. Last year the country imported 55,283 tons of rice, about equal to production in Guanacaste, said Cruz. He was speaking to the Comisión Permanente de Asuntos Agropecuarios.

The Corporación Arrocera Nacional is a government agency that buys the rice from producers and maintains a market price.

Imports have to be approved. And there is a 32 percent import duty. Although this is good for rice producers, consumers fail to benefit from the free market.

Many of the country’s leaders are invested in the rice production business as well as sugar cane.

Cruz told lawmakers that the industry was in crisis, although it was unclear what kind of relief he was seeking. There was no indication what the former rice farmers were doing now with their land, although many certainly have suffered from the prolonged drought that just ended.

Lawmakers seem to be more aware of economic implications as they consider protective measures. And there are consumer lobbies to help them remember.

The Ministerio de Economia, Industría y Comercio last week rejected an appeal by the legislative committee to block rice imports. The committee most likely will try again.

The minister involved, Wélmer Ramos, just left that post because he is planning to run for the presidency on the Partido Acción Ciudadana ticket next year, and election rules prohibit sitting officials from running.

5. Reality of passport confiscations still some time off
By the A.M. Costa Rica staff

The U.S. State Department still is a long way from pulling passports of citizens with major tax debt.

The U.S. Internal Revenue Service said that it has not yet reported tax debt to the State Department but that it plans to start doing so early this year.

However, the advocacy group, American Citizen Abroad, said it still is waiting to see draft regulations so it can make comments. The organization says that it will voice concerns over how this policy could put Americans overseas at a serious disadvantage if they were to have their passports denied or revoked.

Under the current regulation, the State Department is supposed to deny passport renewal to anyone who has a reported debt of $50,000. The department also can cancel a passport or simply give a U.S. citizen just the right to return home.

According to the Internal Revenue Service it is supposed to notify a U.S. citizen when it certifies to the State Department that there is a substantial debt. In addition, the State Department must give those renewing passports 90 days to protest the designation.

That gives taxpayers the chance to protest any errors made by tax collectors before the application is denied.

Those who face the lost of a passport can file suit in tax court if they think the agencies have acted incorrectly.

For most expats a $50,000 tax debt may seem a lot, but the sale of real estate generating capital gains tax or even penalties and interest levied by the Internal Revenue Services can run up the amount.

 

FOR RENTAL OR SALES INFORMATION
ON ANY OF THE ABOVE, CONTACT:

Brian C. Timmons
Property Manager RLJ and Newsletter Author

Costa Rica:
Cell: (+506) 8305-3965
Land line: (+506) 2282-4142 Ext. 101

Canada:
VOIP: (+416) 461-2203

Web: http://www.residenciaslosjardines.com
Emails: info@residenciaslosjardines.com
ResidenciasPropertyManagement@gmail.com

 

Top

Contact phone numbers

Internet Phone:
Toronto: 416-461-2203

Costa Rica:
Cell: (506) 8305-3965
Land: (506) 282-4142 Ext. 101

NOTE: Toronto number is "local call" for people in the area code; calls from outside the area code will be billed at the normal rate from the caller's area code.