Evolution!
ISSUE #336: Jan 3 - 8, 2011
2011-01-09
Evolution!
» NOTES
When I started Residencias Los Jardines, I started writing a weekly news letter —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 resales and rental availability. Some readers may be interested in this information.
More and more, the content will be dominated by events of our new project, "El Dorado" for short. While the future is always uncertain, I again aim to tell it like it happens —the good, the bad, and the ugly, and that is what follows.
In an effort to make the format more interesting and visually appealing and to field inquiries re. El Dorado, the news letter is now being distributed by Jan Kozak, Marketing Manager, Hacienda El Dorado. I will remain the author.
Brian C. Timmons, Author
Residencias Los Jardines/Hacienda El Dorado - Developer
E-mail: brian@eldoradocostarica.com
YOU CAN ALSO VIEW THE COMPLETE VERSION ONLINE AT:
https://www.eldoradocostarica.
» CONSTRUCTION LOG
Paul and I started separately to research the market based on current information. We're coming to three conclusions: (1) the business model we used at the outset won't now work and we need to develop a different model; (2) we need to provide more, lower priced units in order to appeal to the local market; and (3) we need to look at reducing our projected construction costs by streamlining our offerings. All these are doable.
(1) The original business model was based on the expectation that the project would be self financed from purchaser progress payments. September 2008 and it's aftermath translates into that not being feasible now. It's difficult to get commitments from purchasers when they can't see a shovel in the ground and be convinced that the project is really going to go ahead. We're looking for bank and equity financing and are working with a consulting company who specializes in this. The model is much like the traditional North American model we've used before. I've discussed our project and walked the land with the VP of the company we're looking at working with. We expect a proposal from them this week.
(2) We need to find opportunities to create homes in the $175,000 - $200,000 range. We can do it and probably in those areas where we currently show only $300K+ products. We know where; we'll figure out how to do the with the aid of the architect.
(3) By simple design changes, we can reduce our costs and re-thinking our operating model, we can achieve what we need to achieve. Our cost figures are probably still accurate. We may have to role back the price increase we instituted previously and will probably have to sacrifice some profit margin, but all the cost savings we need can be achieved.
» RESIDENCIAS LOS JARDINES
Now that the holidays are over, we're going to have to pick up the conversation-- which no one really wants to hear about -- to resolve some issues left unresolved from the General Shareholder's meeting in December.
Unit 106A: $155,000
Unit 106B: $169,000
Unit 107: $265,000
Unit 115: $205,000
Unit 125: $160,000
See Descriptions and photos below.
Rental Vacancies:
Unit 102: $1,750 (Unfurnished)
Unit #125 -- For Sale $160,000 - FURNISHED
Total Area (Sq Ft): 662
Total area (Sq M): 61
Bedrooms: 1
Bathrooms: 1
Floor(s): 2nd Floor
Type: Apartment
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.
Unit #106A -- For Sale $155,000 - FURNISHED (Leased at $1,000 pr month until January 2011)
Total Area (Sq Ft):1250Total area (Sq M):120
Bedrooms:2
Bathrooms:2.5
Floor(s):Ground Floor
Type:Apartment
Furnished:Yes
Unit #102 -- For Rent $1,750 UNFURNISHED
Total Area (Sq Ft): 1922Total area (Sq M): 117
Bedrooms: 2
Bathrooms: 2
Floor(s): Ground Floor
Type: Apartment
Furnished: Yes
This two bedroom, 1922 sf (177m2) + parking and bodega, single story home located in Residencias Los Jardines was completed 5 years ago and has been lived in by a single lady who has lovingly cared for and cleaned it twice a week. It is situated on the ground floor of a two storey, horizontal duplex. It is in PRISTINE condition. The vendor is the original owner.
» NEWS FROM COSTA RICA
January 09, 2011
Arizona "The Mecca For Prejudice And Bigotry."
We are miles and miles away from Arizona the United States, but the recent shootings of a Congresswoman, the death of a Federal Judge and 6 others has no border and it touches all of us.
Read
January 09, 2011
Freedom Of Expression Tops With Costa Ricans
The right to say what one thinks is the biggest advantage of living in a democracy such as Costa Rica, says 34% of the country's inhabitants.
Read
January 08, 2011
Costa Rica Builds Defense Around Isla Calero
The government of Laura Chinchilla has decided to begin erecting barriers at the mouths of the Colorado, Sarapiqui, and San Carlos rivers to prevent the possible entrance of Nicaraguan boats.
Read
January 08, 2011
Flu Vaccination Kicks Off Monday in Costa Rica
The flu vaccination campaign begins on Monday with the focus on the elderly and in two weeks children under 2 years of age.
Read
January 07, 2011
Costa Rica's Ruling Political Party Infighting Leads To Resignation of Legislator
Publicly reported and also published in the Spanish language newspapers, television and radio the infighting of the elected government has escalated and while on the surface seemingly a political bore, in reality this infighting will directly impact, at minimum, both our taxes as well as security! (Or lack of it)
Read
January 07, 2011
Costa Rica's Ruling Political Party Infighting Leads To Resignation of Legislator
Publicly reported and also published in the Spanish language newspapers, television and radio the infighting of the elected government has escalated and while on the surface seemingly a political bore, in reality this infighting will directly impact, at minimum, both our taxes as well as security! (Or lack of it)
Read
January 07, 2011
Is It Possible To Retire In Costa Rica On Social Security? By Christopher Howard*
The answer is yes and no, depending on your lifestyle and the amount of your monthly Social Security check.
Read
January 06, 2011
Although The Telecommunications Market Is Now Open in Costa Rica, It Will Continue Heavily Regulated
Tomorrow, Friday, January 7, is an pivotal day for Costa Rica's telecommunications sector, the day when after years of talk and discussions, two foreign operators will announce their offer and plan to compete with the state telecom in the cellular telephone market.
Read
January 06, 2011
Official Inflation In Costa Rica = 5.82% for 2010! Cost of Living “Priceless”
The official word is Costa Rica´s inflation rate came in just about on the high end of Banco Central´s forecast which was between 4% and 6%.
Read
January 05, 2011
Chinchilla Asks Obama and Clinton For Support With Nicaragua Conflict
Costa Rica's presidenta, Laura Chinchilla, confirmed she held talks last month, by telephone, with her U.S. counterpart, Barack Obama, and the Secretary of State, Hillary Clinton.
Read
January 04, 2011
Ministry Of Justice Robbed!?
Is There no Fear at All of Law Enforcement Anywhere in Costa Rica? When the Ministry of Justice gets robbed, we have hit bottom!
Read
January 03, 2011
Third Time is The Charm For New Traffic Law?
The third time is the charm, so the saying goes, as legislators begin the new year to approve reforms to the reforms of the Ley de Tránsito.
Read
January 03, 2011
Constitutional Court Rejects Appeal To Ban US Navy Ships in Costa Rica
A Constitutional Court ruling allows US navy ships to enter Costa Rican waters in a joint antidrug operations with the Costa Rican Coast Guard, under the Joint Maritime Agreement in effect since 1999.
Read
» OUR LIVES
WEATHER: -- The first part of the week was characterized by overcast and cool days and nights. The last couple days have returned to the normal December weather--warm and beautiful.
New Year's Eve: The period between Christmas and New Years is generally quiet in the Central Valley. This is the time of the mass exodus of Ticos to the beach areas. The streets of San Jose and area are easily drivable, only a few crazies--and there are those--. Most retail stores are open; governments are closed and not much really gets done. It's normally quite pleasant.
New Year's Eve sees a burst of private fireworks displays--while officially illegal, it's just another law that is not enforced. This year was no exception. From our balcony, we have an excellent 270 degree view. While there wasn't the normal small displays before midnight, at midnight, the sky went wild--all around us were fireworks, including a magnificent display by one of our owner / residents who hosted a party--more on that later. While all our guests retired before midnight, Lita and I managed to stay away and were well rewarded. many, really, really great displays, some very close, some more distant. It was incredible and Lita found herself screaming her excitement.
New Year's Eve Party: One of our owner / residents hosted a party. Nothing unusual about that...He had organized some belly dancers with flame dancing, had lots of candles around the pool (it was a great evening for this since there was no wind and the candles stayed lite) --- the whole event was very elegant, well executed and organized down to the clean up, guests well behaved and the music ceased after the fireworks . On Saturday morning, there was NO evidence of the party, the pool area returned to the condition it was before--which was good because our normal clean up guy was off duty.
New Beginnings--Construction: I learned that the 5 or so unfinished buildings of the Forum 2 will probably be built this year; the hotel planned for the complex is starting to get underway. This I fully expected as soon as the built space was absorbed; it has been so the developers, are looking at finishing off the complex.
The same developer also owns the large section of land around the MegaSuper mall in Santa Ana. I heard that a Forum 3 is planned for this location. If this happens, it could be a huge development. I doubt this will happen this year but if it does, it certainly enhances the desirability of Los Jardines and El Dorado -- lots of good jobs.
Brian, Lita, Hugo, irreverent Vicka, the pigeon toed parrot, and the newbies - Chico and Chica.
Brian C. Timmons, Newsletter Author
Residencias Los Jardines/Hacienda El Dorado - Developer
Cell: (+506) 8305-3965
E-mail: brian@eldoradocostarica.com
For inquiries about availability of residences at Hacienda El Dorado or Residencias Los Jardines, contact:
Jan Kozak, Marketing Manager
Residencias Los Jardines/Hacienda El Dorado
Web: www.eldoradocostarica.com
E-mail: info@eldoradocostarica.com
MSN: jan.kozak.jr@hotmail.com
Skype: jan.kozak.jr
Voicemail (Canada) (+1) 647-477-5825
Skype (US) (+1) 954 903 0830
Office (Costa Rica) (+506) 2215-6000
Cell (Costa Rica): (+506) 8707-9930 / (+506) 8345-8018
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