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Residencias Los Jardines - Life & Times

ISSUE #661: May 28-June 3, 2017

Exchange Rate Crazies!!!!!!

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​
$1,400

 

Escazú
FOR SALE: Agent says this is a Bargain...

$225,000
2700 sq ft house in best area Escazu
Owner finance at 8%

This is 3-4 bedroom house with garden and views with owner finance at 8% for balance of $200,000. 2 car garage with watchman directly in front of the house. Downpayment is $25,000

 
Market activity
sales & rentals

Sales: Los Jardines: Units #106A, #114, #123, #124 and #125

Rentals: Paradisus: 13th Fl / East view / furnished​ / $1,400 mo.
Los Jardines: Units #106C, #114, #106A, #106D, #112 and #123 are available for rent

Upcoming vacancies: Los Jardines: Unit #102 end of June / Unit #118 end of May

 
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 #124: $ 135,000 / See Unit
Unit #125: $ 135,000 / See Unit

FOR RENT
Unit #106A: $ 1,100 mo / Available Immediately / See Unit
Unit #106C: $ 1,150 mo / Available Immediately / See Unit [new]
Unit #106D: $ 1,250 mo / Available June 1st / See Unit
Unit #112: $ 1,250 mo / See Unit
Unit #114: $ 1,400 mo / Available Immediately / See Unit [new]
Unit #123: $ 1,450 mo / 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 #124
FOR SALE
$135,000

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

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

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 #106A
FOR RENT
$1,100 mo.
Available Immediately

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

Total Area (Sq Ft): 1250
Total area (Sq M): 120
Bedrooms: 2
Bathrooms: 2
Floor(s): 1
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 #106D
FOR RENT
$1,250 mo.
Available June 1st

Total Area (Sq Ft): 1227
Total area (Sq M): 113
Bedrooms: 1 + den (bedroom possible)
Bathrooms: 2
Floor(s): 2nd Floor
Type: apartment in 4 plex
Furnished: Yes

This 2nd story, 1,227 sf (113 m2 + one parking space) )is a georgous home with one of the best views at Los Jardines. The very large front covered terrace faces west and is suitable for entertaining; the off-bedroom covered terrace faces east for sun sets. This very tastefully furnished and fully equipped home offers a lifestyle envied by many. The owner offers financing if desired.

UNIT #112
FOR RENT
$1,250 mo.
Available Immediately

Total Area (Sq Ft): 1290
Total area (Sq M): 120
Bedrooms: 2
Bathrooms: 2
Floor(s): 1
Type: 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 two sides by a 6 inch cement demising (common) wall, which prevents sound transfer.

UNIT #114
FOR RENT
$1,400 mo.
Available Immediately

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.
Available 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: As you can see from the article below, it is WET!!!

Colon : Dollar Exchange rate:

As you can see from the article below, the Central Bank intervened and the rate drop immediately by about 13 points. This has dampened whatever non-existent market there may have been by scaring buyers who need financing... tico's earning in colones and needing mortgages or car loans, borrow in dollars... when the exchange rate changes like this so fast, they get very nervous.

Changing Plans: Corporate clients renting three units committed their people to the end of June. On May 31, when I invoiced them for June, they said they were actually leaving June 2... wow!!! we'll have sort that out...

 
News Items of the Week

Comments

1: It's WET, WET, WET... but no problems... Guanacaste has suffered short rainfall for several years so this may be the year to replenish the aquifers...

2. Colon : Dollar Exchange... yes, it dropped like a stone... when the bank intervened. For now, they are going to keep it under 600... personally, I think that might be the upper limit... the point the bank will intervene. We'll see...

1. Costa Rica nearing record rainfall for May

May will end with a rainfall surplus that beat all forecasts. Precipitation levels so far this month are close to breaking 15 years of rainfall records, the National Meteorological Institute (IMN) reported Monday.

IMN meteorologist Juan Diego Naranjo said in a report on Monday morning that May 2017 has been the wettest since May 2002. It already passed rainfall levels from May 2008, the year Costa Rica faced increased downpours due to the influence here of Tropical Storm Alma.

Cartago and Guanacaste are the provinces with the highest precipitation levels this month. Both already surpassed records from 2002, the IMN reported, and San José is ready to break those records as well. The IMN on Monday reported a total of 450 millimeters for the month in the capital; total rainfall there in May 2008 was 496 millimeters.

Thunderstorms during the current rainy season also are approaching a record for lightning, with a total — as of Friday — of just over 338,000 occurrences, according to the IMN.

The National Emergency Commission (CNE) reported that, as of Monday, there are 70 people who have been evacuated to shelters in Tilarán in Guanacaste, and in Coronado, north of San José. The CNE issued a Yellow — Preventive — Alert for Tilarán last week following landslides in various areas caused by an increase in rains from tropical waves number five and six of the year.

The seventh tropical wave is to blame for the heavy showers over most of Costa Rica at the time of publication of this article. The wave will continue influencing rainfall patterns for a few more days, the IMN said. Heavy showers on Monday afternoon flooded various streets and caused problems for motorists and pedestrians in San José and Heredia.

2. Dollar exchange rate down following Central Bank's intervention announcement

The Central Bank of Costa Rica (BCCR) will intervene in the foreign exchange market in order to curb the sustained hike in the exchange rate of the dollar. This week, that price reached a historic high of ₡600 in various private banks.

The bank confirmed in a news release on Thursday that it has approved a plan to intervene in the foreign exchange market with up to $1 billion over the next days.

Róger Madrigal, director of the BCCR’s Economic Division, said the recent behavior of the exchange rate “introduced risks for both price stability and the financial system.”

Bank officials, however, ruled out doing the intervention in a single day’s market session, as “it would be too aggressive,” Madrigal said.

Quick response

The BCCR announcement caused an immediate reaction with a ₡7.36 drop in the dollar price in its MONEX exchange, the market in which banks trade currency. The sale price of the dollar at the country’s banks fell ₡4 from ₡598.49 to ₡594.47. The average purchase price closed at ₡581.71.

Thursday also was the first day in May that the dollar exchange rate recorded a decrease, following sustained hikes throughout the month, and particularly this week.

So far this year the price of the U.S. dollar has risen by more than ₡30, representing a 5.7 percent dip of the colón, according to BCCR data.

In the past two weeks alone, the bank has sold $171 million in the exchange market in an attempt to stabilize the price.

Other measures

Central Bank officials at the press conference announced that, in addition to the intervention, they also approved a one-point increase in the monetary policy rate that the bank applies to banks’ transactions.

The increase aims to reduce the pressure on the foreign exchange market in order to stimulate more savings in colones.

“Raising yields in colones seeks to discourage investors from changing their bank savings into dollar savings,” Madrigal said.

He added that they expect these measures “will be enough for the market to realign with their estimated projections for this year.”

BCCR officials attribute recent sharp variations in the exchange rates to a spike in the number of investors looking to change their bank savings from colones to dollars. Other reasons include the lack of sufficient dollar availability at banks, the increase in commodity prices and recent hikes in interest rates of loans in dollars.

The Costa Rican Banking Association (ABC) showed its support for the measures and said in a news release that “approved adjustments were necessary to protect the stability of the local economy.”

ABC economic adviser Ronulfo Jiménez said that external conditions as well the country’s high fiscal deficit are the main problems driving recent increases in the exchange rate and in interest rates.

Jiménez noted that the spike in the demand for foreign currency originated mostly in people’s — and not in banks’— transactions.

“We can positively say that banks are not exerting pressure on the exchange rate of the dollar,” he said.

 

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.