Working Through Chaos

ISSUE #733: Oct. 28 - Nov. 3, 2018


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


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

Distrito Cuatro / Guachipelín / Escazú
Price reduced: $ 99,000 to $ 90,000

about Distrito Cuatro

Rendering proposed
Distrito Cuatro - click to Download full PDF

Real de Santa María / Borreal de Heredia
$ 185,000 $175,000 (reduced)
Private financing available

See location on Google Maps

Real de Santa María / Borreal de Heredia

Download more pictures (8.35 Mb)

Market activity
sales & rentals

Sales: Los Jardines: Units #114 and #124


Paradisus: Nothing available

Los Jardines: Unit #106C

Residencias Los Jardines
property management, rentals & re-sales

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

Unit #106C: $ 950 mo. / Available immediately / See Unit

For sale

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.

For rent

UNIT #106C
$ 950 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.

Our Lives

Weather: Transitioning to dry season: Normally, November is a transitional month... rains back off and gradually more sunny days. The last few years, November has been pretty wet but we are beginning to see this transitioning happening... so maybe we will dry up.

What Happened This Week:

Heredia House: Heredia House: Looking good / looking lonely -one call... the showing was to someone who had no was a complete waste of time. Another call from signage... again, no money.

Gardening: We terminated one company of 4 people. They were unhappy with the termination / some yelling and screaming and the normal threats and in this case, insults... I am pretty used to it by now so don't loose much sleep. The second team consisting of a young guy (the main contact) and two older, experienced gardeners seem to be doing fine. We have scheduled them for virtually everyday until we get on top of the garden... This may be several weeks... after which we expect to got to maintenance mode... we will define that when we get there.

DistrictCuatro: I continued to show it... I have one Indian guy who wants to buy it for his parents... none of it makes any sense to me but as of now, he thinks it is going to happen. Regardless, I have had the rubble removed and will meet with the architect / engineer this afternoon to refine the drawings and settle a few things... size and location of septic system / electrical system / hot water heating sysem (gas / electric / demand?) and why type of kitchen stove / laundry outlet... location... and the kitchen design... and the roof extension for a covered terrace and pila... entrance walkway / landscaping, fencing, rain water drainage... all this has to be sorted out before the drawings are finalized and submitted. And I will continue to show it, for example, I have another showing at 4pm this afternoon.

INS suite: Yes, I sat at the big table this week... briefing with my lawyers on Monday followed by the deposition in front of three judges on Wednesday.

Briefing: my two lawyers and their aid... in their new location (this makes #5 in 3 years). I had to find it... I did... new building right across from my other lawyer... Getting past the first floor had it's problems... I didn't know the system and the receptionist didn't bother explaining it to me. After several false starts / frustration / I get the right floor... their name is not on any of the doors... wow!!!!!! ...the secretary doesn't know anything about a meeting nor does she recognize any names..mmme... she checks several logs... find's something scheduled for 3-5:30... I was told to be there at 2... I wait... it happens... A question comes up re. a translator... INS is suppose to pay for this... they had not... will they? don't know... I said do not let this be cancelled due to this issue... I was called the next day to bring $300... I did... getting into the office was now a different system..more frustration... I get one to give the $$ to... they trace someone down... I pay / get a receipt... and in the end, INS did, in fact, pay for the translator.

I do a dry run to the Chamber of Commerce Dispute Resolution Center. This is an organization which it used often. I never knew their location... it is in the middle of "spaghettiville"... without WAZE I never would never have found it.

For The deposition: The room consisted of three judges, two INS lawyers and two of my lawyers along with the translator. The Translator and I sat in the middle of the "U" facing the judges. I was instructed to not make eye contact with any of the lawyers... it also worked out that none of the judges made eye contact with me. INS lawyers asked 90 min. worth of questions / my lawyers asked only two. It seems that INS was interested in trying to establish my relationship with the borrowers and the players... Since I had never met them it was pretty easy for me to remember. INS wants everyone to believe there were non-arms length loans made for the purpose of defrauding them.They accused two of their own employees as being part of a scam. I don't know about any of that but I do know that at my end, it is very simple... and that is what I conveyed. We'll see... two of these cases have been ruled on... in both cases INS was ordered to pay principle and legal costs / in one case they were also ordered to pay interest. INS tried to make a criminal case -that caused a 2 year diversion and was thrown out for lack of evidence. What happens now? I wait... how long... I am told about a month... but even if I am awarded anything, I suspect that collecting is still going to be an issue. We'll see.

Tenancy Cancellation: Yes, I kicked out a deadbeat. Put all his belongings into storage, repaired the damage and cleaned the unit. He is collecting his belongings today and we will settled up what needs to be settled. For some reason, his life fell apart and he became persona non grata to me as a tenant... too many broken promises, too many late payments, too much drama... and I continue to wonder if he targeted me for a scam???

News Items of the Week

Below is a medley of comments / articles / opinions: This is contemporary CR...

CR Financial Chaos for the week:

Now it is getting more interesting, eh!
On Wednesday when the Monex closed at c625.95, the press reported it as around c620.64 when the numbers are very clear to see on the BCCR site. Tropical fake news, eh! SWOOSH! The Pres of BCCR, Rodrigo Cubero, was all over the news saying that the BCCR did not want to waste its reserves on defending the colon. He must have just dumped some $5 to 7 million in that afternoon.

On Thursday, the Animal Spirits, thinking Cubero had said the truth the night before, opened at c619. Then the BCCR hit them with $10 million a few minutes later. BAAM! The battle continued with the BCCR dumping another $24 plus million. BAAM, BANG, SQUAASH! With over 70% of the trade bucks for the day, the BCCR achieved a low of c605 EEECK but the Animal Spirits persisted and closed the session at c617. WHAAM!

On Friday, the open was c614, but that was the low for the day. Despite BCCR dumping another $5.1 million, the Animal Spirits hit a high of c624. BOOM! The close was c622.50. WHaam!

For the week, BCCR dumped $45.5 million or 61% out of a total of $74.4 million traded. YIIKES!!! Despite this, on a very slow week, the rate opened on Monday at c600.1 and closed the week at c622.50. BANGO!

It looks to me, a totally non FX person, that the BCCR guys overplayed their reserves heavy, heavy hand, and they were had, out thought, and out played by the Animal Spirits who have the wind at their back. WHACK!

According to La Nacion this morning, the buyers of USD were 'scared' (panicked???) Tico companies and individuals looking to protect themselves in a slow market.

Cubero of BCCR notes that the BCCR has used $1.6 BILLION protecting the colon in the last 6 months. THUNK!

So what will next week bring? ANd who are the Animal Spirits who are whipping the BCCR?

Between say mid November and early December, foreign companies, and some clever Tico companies, will have to bring in hundreds of million of USD to pay off the socialist parasite 13th month plus taxes, liquidations, bonuses etc...

So the USD, due over seasonal supply, will fall as the wolves from the Animal Spirits waylay and feed on hapless gringo cash flowing in. DROOL, Crunch! SLurp!

But, off setting this will be the crooked, selfish, lazy judges rejecting the Tax Package at end November in order to protect their overly generous fookin salary and pension packages. WHAM, BANG. FLASH! MUSHROOM CLOUD over the Central Valley.

The BCCR will try to stem the over overpressure waves with a billion or so USD from their $7 billion reserves. But it will not work. WOOONK

Combined with USD and colon bonds coming due, the Hen House Legislature failings, the Administration LOST, rating down grades, and a now unsolvable deficit, the Animal Spirits will pounce and drive the colon down.

The only questions is how far. c650, c670 or even c700 by New Years Day despite the seasonal flood of USD coming in.

Who are the Animal Spirits? Is there a Tropical Gorg Soros hiding in the jungle out there slithering in and out of the Monex to break the BCCR, or is this just market forces at work???

I guess it is indeed time to be fatalistic ...‘si Dios quiere’.. What else can the 'domesticated' populous do?

Have a nice day, dry season is nigh! Black Friday has started, so Thanksgiving and Christmas must be close.

Teachers: General Strike... 50% are still on strike... no repercussions to the strikers... still creating havoc on the streets when they can... the strikers actually gained nothing that I can see except fun time. The government is going to try to hold inflation to 4% in 2019 / ... they just granted a first half of the year wage increase of 3% to min wage rates... private sector and more for domestic workers. Many businesses do not have the slightest me... as to how to file electronic invoices (now required) and on what do we file... speaking with two very different tico, one foreigner who, like me, collects money for others) the money collected is on BEHALF of, not my or his money... how to reflect this??? and for us to send an electronic notice to the rightful owner in Switzerland, Germany, Canada, USA... and they have no clue... this is not going to work. If the government wanted more tax money, there are simpler ways to do it...


Brian C. Timmons
Property Manager RLJ and Newsletter Author

Costa Rica:
Cell: (+506) 8-455-59-35
Land line: (+506) 2282-4142 Ext. 101

VOIP: (+416) 461-2203


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