Contracts & Deposits

ISSUE #161 Nov. 5-11, 2007



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 availabilty. 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.



We found a couple little errors and have fixed them. The programming for the search engine and the optional upgrades is proceeding.  We're still hoping for a launch of these figures by Nov. 12.  I haven't seen it yet.

To see which units/houses have been sold or reserved and which units/houses are still available, click here

Marketing & Sales

Our first ad came out in a glossy real estate magazine -- Costa Rica Real Estate & Tourism Guide. The ad was printed incorrectly -- the site plan on the ad was all distorted and messed up. We are very disappointed they did not catch this error prior to printing as this edition is to be distributed to a market we wanted to reach.  While we will get compensation, it will not replace the missed opportunity.

Our signs on four billboards along the freeway between Santa Ana and San Jose will be put up this week.  We've reserved the space for a year in each case.

We now have 21 reservations and are working to get the deposits in and contracts signed. Our deadline is Nov. 15. We have a waiting list of interested buyers who will be given the opportunity to pay the reservation deposit after Nov. 15 should any of the verbal commitments fall through. According to the information we are receiving, this is highly unlikely to happen.

Banking Arrangements

We are still talking to Scotiabank but we have also opened up a conversation with Banco Nacional.  We have heard from several sources that they are actively searching for our type of business. While I do not have any comparative data, it seems to me that we are having difficulty getting through to Scotiabank. It appears to be a tougher grind than it should. They certainly do not seem to want to give up anything easily. I tried opening a conversation with HSBC but they aren't knocking down my door so I am not pushing it. We will see what happens with Banco Nacional. 

Paul has been working with changing the method of payroll payment. Right now, it involves a lot of paperwork but in the longer run, it should be more efficient and much safer.


Site Plan Construction Application: The last minute changes have delayed this but until then, it is my understanding that all parties were ready. We now have to set a new date for this.

Construction Log

Architect: We have redesigned the entrance way to allow more space for the building and associated parking for lot 1. This area now works well. We also repositioned buildings and parking on lot 11. We had one building overlooking a not-very-nice near view. The current location of the building and the associated parking lot, is a much better solution. He and I are meeting at 7 a.m. on Monday to begin work on refining the floor plans for the Mayan Tower.

Surveyor:  He has plotted the entrance and the locations of building 1 and 11A&B. I haven't reviewed it yet as I'm in Nicaragua now.

Residencias Los Jardines

For Sale: Nothing available at the moment.

For Lease: Unit 109 is available Dec. 1, -- $1,600 mo.

One level, detached two bedroom, 2 bathroom with terrace. Lots and lots of beautiful built-in  wood cabinetry—wall-to-wall floor to ceiling display and entertainment center, office with granite topped desk, dining room severing / storage cabinet,   etc.  The "U" shaped kitchen has granite counters.  The great room (living room / office/dining/kitchen has a vaulted ceiling with direct and indirect lighting. Fully furnished – leather and granite—two queen sized beds, TV, wall decorations, full kitchen ready for cooking and entertaining.

Property Tax Reassessment
:   We should hear  the results around mid December.

Shareholders Meeting: This will be December 15, 2007. I'll be completing the documentation and readying the information necessary. What needs to be sent in advance will be—if I get it done and that is what I spent most of my time on in Granada.

Our Lives

We continued to experience a fair amount of rain. Almost every day for several hours and sometimes again at night.

Lita has been busy distributing brochures to whomever and is hopeful of making a sale. It will be nice for her if it happens. She wants to be involved rather than on the sidelines.

On Wednesday, we left for Granada, Nicaragua, and returned on Saturday. This time, we went with friends. Granada is the same interesting town, full of life, culture, and character. I saw a number of small construction / renovations projects underway. Some people have a positive assessment of the future. There were few tourists in town. Our hotel had only 4-5 rooms occupied out of 28. Now that we have stayed there so many times over the past several years, it's like old home coming.

I continue to fall behind on a number of things as all my time is focused on marketing. I spent much of my time in Granada on the computer trying to get caught up. This work has to do with preparation of documentation for the turnover meeting Dec. 15, 2007. Information has to be distributed in advance.

Brian, Lita, Hugo, irreverent Vicka, the pigeon toed parrot, and the newbies— Chico and Chica.

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