A Good Earthquake & a Trip!

ISSUE #685: Nov. 12-18, 2017


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: https://www.residenciaslosjardines.com
Emails: info@residenciaslosjardines.com

rentals & sales

Paradisus Condos / Rohrmoser
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...

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

Market activity
sales & rentals

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


Paradisus: Nothing available

Los Jardines: Nothing available

Residencias Los Jardines
property management, rentals & re-sales

Unit #106A: $ 165,000 / See Unit
Unit #114: $ 199,000 / See Unit
Unit #124: $ 135,000 / See Unit

For sale

UNIT #106A
$ 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
$ 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 #124
$ 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.

Our Lives

Weather: The dry season... is not here yet... but it is definitely coming...

CR Banks earn their Scorn: Last week I wrote about my recent experience with Scotiabank. That was read by a long time friend of mine in Canada who forwarded it to a well placed Scotia Bank exec / friend of his... This won't result in any changes but it does give him some feedback which will be stuck in his mindset if issues arise at his level and in his domain. I haven't yet used my battle plan... I avoided all banks this past week.

Earthquake: On Sunday night around 8:45 we had a good, long -54 seconds-6.9- roller. Everything was moving. No damage. The epicenter was located near Parrita -not far as the crow flies-, in the ocean, near the surface. Not much damage in the country. Two deaths due to heart attack. Earlier that day on the Iraq-Iran border there was a 7.2 that caused lots of damage and deaths. One of the differences is that our construction is much better...

Playa Carrillo / Samara: We got away on Monday and returned on Thursday to our favorite beach... Carrillo... near Samara. We hadn't been for two years. We had no reservations... I knew there would be lots of space and I wanted to see if I could cut a deal from the posted rack rates and Internet listed prices. I had not been able to for the past several years. We have two favorite hotels -Guanamar and Leyenda. The Guanamar was closed and it's fate is uncertain. Tropical storm "Nate" was cited as the final nail in the coffin. They had struggled for years due to poor marketing... and bad business decisions as far as I was concerned... even when empty I couldn't cut a deal with them with their last rate being around $180... They simply priced themselves out of the market. The Leyenda had followed Guanamar's play book but I still wanted to try. Leyenda's rack rate for the room we wanted was $180... their Internet listed "deal" was $152... at the desk the price became $100. Great... I took the deal... They are maintaining their staff... same two guys... reception and waiter -and their standards... the place was nicely maintained. There were only 4 other people there. We will go back and be happy to.

Unfortunately, it rained all day of the two full days we had... we never did get to the beach... but we met with a person with whom I share a number of things... friends, previous employer, Toronto based earlier life, age, and hernia operation... we met, shared stories and vowed a future get together

We used the rainy time to catch up on the area... it is not doing well... many hotels are closed / for sale / poor state of maintenance of many buildings / the beach town of Samara is the same small beach town it was 15 years ago yet the prices being asked for RE is ridiculous in my opinion. Having said that, a beach front development I am familiar with now has 5 -- million dollar plus houses in it and two more are under construction.

While Carrillo is arguably the best beach in Guanacaste it is 4 hrs drive -now good road all the way- from San Jose and 2 hrs from Liberia... It is a chore to get there...


Los Jardines: It continues to improve... maintenance continues being done, we will get back to our original condition I am confident.

Foreclosed Property: I will obtain final control this week. The former owner has promised certain things which haven't materialized... I expect to issue the eviction notice and then????

INS Law Suit: The case sits in the Sala 3 (supreme court) trying to determine jurisdiction. Since CR doesn't have "class action" status suits, all 20 (?) of us have our own but similar suits. One of these was deemed to be able to be dealt with in the Chamber of Commerce Dispute Resolution Board... where we started... we will have to wait to see if others including mine are treated the same... but the operative word here is "wait"...

A busy week ahead. Last week saw a lull... that is why we were able to get away. This week is starting off with lots to do... sure glad I am retired.

News Items of the Week


1. Earthquake... Read all about it... a non-event but a reminder there are incredible forces lurking.

2. Condo Development: Just another one. What is not mentioned in the article which I think is a BIG reason for this company is to diversify it's holdings and get money out of Ecuador... it could be the next Venezuela.

1. Two dead in Costa Rica’s Earthquake Sunday Near Jacó, Puntarenas

The Ministry of Public Security (MSP) reported bringing in two people for treatment for heart problems following a 6.9 magnitude earthquake this evening, Sunday, November 12 at 8:28 p.m. south of Jacó off the Costa Rican central Pacific coast.

The individuals, who were from the Jacó vicinity, were rushed to the regional Puntarenas Hospital but were declared deceased shortly after being admitted.

Teresa Viales Navarro, 56, and José Alberto Segura Gutiérrez, 54, are the first reported mortal victims of this tremendous natural event.

The earthquake is reported to have lasted 54 seconds, and occurred at a depth of 1o kilometers.

The Costa Rican Electricity Institute (ICE) reported downed power lines and electric poles in the port town of Quepos, south of Jacó and bordering on Manuel Antonio National Park, and said some neighboring areas have no power due to damage to a transformer in Parrita.

The powerful earthquake caused some landslides along roads in the Jacó area, and some buildings in the San José area including the San Pedro Mall are being evaluated for structural damages.

Some 20 aftershocks occurred in the Jacó/Parrita/Esterillos area after the 8:28 mega shock; one as strong as 5.2 magnitude, and the aftershocks continue to occur as of 10:30 p.m.

2. Foreign Investors Plan More Residential Towers Near San José, Costa Rica’s La Sabana Park

The developer company, of Ecuadorian origin, chose Costa Rica thanks to its good economic reputation in Central America and because it is home to important multinational companies worldwide, which generates greater market confidence.

With an investment of US $ 45 million and the direct and indirect contracting of 200 people, the Furoinani Obras y Proyectos (FOP) real estate group starts operations in Costa Rica with its new Iconnia housing project, which will have two construction phases and the first of them will begin in next December.

The Iconnia complex consists of two residential towers and will be located in Sabana Norte, cataloged as the area of ​​greatest purchase interest for vertical developments. The construction of Tower A will begin in December and is expected to end in 2019 to make way for the erection of Tower B. It is estimated an investment of more than US $ 22 million for each building.

According to Galo García, International Business Manager of FOP, "part of our competitive advantage is the experience we have in developing housing, commercial, industrial and public projects. Therefore, our main consolidated competences throughout the history of the company are summarized in design, planning, project development and commercialization, all executed by highly qualified personnel, both inside and outside of Ecuador".

The election of Costa Rica as the first scale of expansion of the Ecuadorian group is due to factors such as its important and stable economic reputation in Central America, its legal security, high levels of education, strategic commercial allies, a market receptive to innovation, its abundant culture and tourist positioning.

Additionally, that Costa Rica is the regional headquarters of a large number of multinationals generated greater confidence in the internationalization plan of the brand.

"The decision to internationalize the brand comes with the clear vision of specifying an opportunity to diversify the portfolio and maximize profitability through projects that contribute to sustainability, to local architecture, projects that generate quality of life and that are part of the growth of the chosen destinations. Something fundamental to our expansion in Costa Rica is that we visualize a long-term strategy. Iconnia has a time horizon of between 4 to 5 years; however, we are already in the preparation and development phase of new real estate projects," García said.

Urban lovers

La Torre A will have 147 apartments, with areas from 48.7m² to 55.7m² of private area in one-bedroom apartments and, from 76.57m² to 96.35m² in apartments with 2 private rooms.

The housing development is aimed at urban lovers, people over 30 years old, with moderate payment capacity and who like a relaxed social life between family, couple, friends, sports, etc. And it stands out for its comfort, sophistication and quality, without leaving aside the feeling of personal well-being.

The Tower A project will have a heated pool, sports circuit, equipped gym, solarium, areas for Yoga, Tai Chi and meditation, green area or lounge, games room for children and adults, pet park, modules for Coworking, room for together, coffee break, among others.

With more than 50 years in the market, Furoiani Obras y Proyectos has established itself as one of the leading real estate companies in Ecuador, thanks to its more than US $ 500 million invested in projects and the construction of more than three million square meters, making inroads in the housing segments (+5000), residential projects (128) and commercial projects (54) in all geographical areas of the country.


Brian C. Timmons
Property Manager RLJ and Newsletter Author

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

VOIP: (+416) 461-2203

Web: https://www.residenciaslosjardines.com
Emails: info@residenciaslosjardines.com

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