What country am I worth now?
I go on one leg and put here some specific points that are used to a property in Costa Rica can be evaluated. Currently, this practice tends toward the black magic from the base value of land in Costa Rica in the South Pacific has the right of the cliff with the rest of the world economy.
One of my colleagues in Costa Rica Real Estate has developed a very simple formula for the valuation of real estate: Take what paid for the land and add 25% per year, then you reduce this number to receive a 40% market price today. I found this technique to show ingenuity, is not accuracy so much for these (it would be a subject of much debate), but because he is actually a method to the country that sounds like you value found somewhere brought into the stadium .
The problem is that we do not know where the stadium is today.
We worked more with other real estate here in Costa Rica Southern Pacific region, we are moving towards a more active cooperation on real estate. One of our competitors are invited to look at some houses in Ojochal and we had to, as he asked, “What I’m hearing addressed home worth?”. He said: “You can use the market or in the right market, or lead the market.” To “follow the market would” recognize that others have their prices reduced and so you follow. “Be the market” in the road would remain above or below you, the market now to “lead the market sentiment,” shows that you expect the market to make their way and with new prices, the compelling nature of buyers, we now see, here in the area. In “update” of the market, this means abnormally low price do for a quick sale.
The problem
The old market has left us. He had his annual upward trend, and its summit, and then he just went, he left us standing here, doe-eyed, wondering what to do with the devil. How do you evaluate a property in which there is no structure comparable value in a world from scratch?
» Read more: Costa Rica Property Evaluation – The Black Art